LARGE CORPORATIONS ARE LOOTING
By Lester Shepherd at Dec 06, 2009
How many in our town are aware that private owners of public water utilities like AIG, a.k.a. the Socialist Bailout King, charge 50% more for services than public utilities and pocket the difference as profits?
When you hear the term “free market”, you can bet that fraud and greed are either coming or have already arrived. It gives huge companies an “invisible” hand to do just about anything to make a profit at the expense of regular individuals. Federal regulations limit water utility profits to 10% but these are pesky rules that companies easily subvert by shuffling their income around “investing” in side businesses. Regulations mean nothing to these cheesy crumbs. They are smart, devious, modern day bandits that are insatiable for money, power, mansions and jets.
People talk about the efficiency of private enterprise. This is a joke with “too big to fail” companies. The one thing, they have become very efficient at, is making obscene profits. In the case of AIG, when they took over Utilities, Inc., they announced, in the summer of 2008 an upgrade of the billing system that included a 50.8% increase in rates. Immediately, a slew of late fee charges also hit the struggling locals of Middlesboro and Clinton, Ky. This was a tactic just like the bailed out banks used when they began tricking people out of fees.
Residents of both communities had been getting their water bills like clockwork for as long as anyone could remember, but confusion and disorder set in as soon as A.I.G. rolled out a new pirate billing system. Monthly statements started coming late or didn't come for months at a time. People were double-billed and double-penalized for bills that never arrived. This is called efficiency? No. It is called stealing.
One thing is certain: AIG's takeover of Utilities, Inc. shows that the citizens of Middlesboro and Clinton, Ky. were treated like lazy good-for-nothings by the bailed-out thieves, who prey upon the most vulnerable Americans like they are 15th century barons soaking peasants.
Unless we wake up soon to stop the corporate destruction of our society and the purchase of our Representatives and Senators, there will continue to be much wailing and gnashing of teeth. Until then, the vast majority of Americans will snore blissfully away.
At the same time the big banks have written America off and are concentrating their efforts on Asia. They know our nation will soon become a low wage, 3rd world country. After all, the CEO’s of our corrupted corporations have shipped most manufacturing jobs to Communist China, never to return, unless, we accept the low wages they demand in order to secure the outrageous profits that support their flagrant life styles.
Not only are the large corporations taking advantage of us, the in cahoots Federal Reserve system, after the bailout, is now allowing the Banks to borrow trillions, that is 1,000 Billion dollars, at zero (0%) percent interest. The swine then use these funds (over and above the bailout money) to purchase treasury bills from the government that pay interest instead of lending the monies to individuals and small businesses and, as a consequence, are registering record profits. This is pure evil. Chairman Ben Bernanke was recently asked by a committee of Congress to disclose which banks are receiving these favors. The high and mighty one refused!
When are we going to wake up and realize the few, who are destroying our society?