Bill Black: Cities Face Catastrophe; Finance a Cancer on Real Economy has the article Bill Black: Cities Face Catastrophe; Finance a Cancer on Real Economy.

As part of its management of the current economic crisis, the Federal Reserve will spend approximately 750 billion dollars to prop up the corporate bond market. It’s also buying junk bonds, exchange traded funds and even directly buying into the stock market.

Who’s managing all this for the Fed? BlackRock, of course, the massive asset manager to know more about the extent of BlackRock power and the tremendous concentration of ownership that’s taken place, read my article on the site titled, Three Investment Banks Control More Wealth than the GDP of China, and Threaten our Existence.

None of this is in the center of popular discussion. This is going to be the biggest disaster we have seen in hundreds of years. Long after this people will wonder why we couldn’t have seen this coming. The answer is that we don’t want to hear about this or see it. It is too horrible to contemplate. There are things we can do to prevent this disaster, but it is easier to pretend it isn’t going to happen.

By the way, I am glad to see that Paul Jay is back at it after the coup at The Real News Network. Paul Jay took with him the Real out of the Real News Network when they threw him out.

Along with the above article there is a podcast Paul Jay on Law and Disorder. This concerns the deeper issues behind out current problems.

This embedded recording stops at a little over 18 minutes.

This link goes out to about 22 minutes, but neither of them are the whole interview.

The whole 27 minute interview is in the article Sacrificing Workers Lives is Back to Work Plan – Paul Jay

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