The Pirates of Manhattan II: Highway to Serfdom
By Barry James Dyke
In “The Pirates of Manhattan II: Highway to Serfdom” Barry James Dyke warns us that America is an empire in decline. We have an asset management industrial complex which controls the nation’s savings and credit for the enrichment of Wall Street, mutual fund companies, global asset managers, executive insiders and the media. You will discover:
– Congress no longer makes regulations. Lawmakers delegate financial regulation to regulators who are controlled by lobbyists. Through lobbying, General Electric, one of the country’s largest banks, is a poster child for corporate welfare and crony capitalism.
– The two key financial watchdogs for consumers, The Securities and Exchange Commission and Finra are impotent to correct any financial wrongdoing and imbedded in Wall Street finance.
– The media giants Bloomberg, CBS, Disney, News Corp., CNBC/NBC/Comcast, The Tribune Company, The Washington Post, NPR, PBS and Marketplace Money have a dysfunctional co-dependent relationship with the asset management industrial complex. Financial gurus SuzeOrman, Dave Ramsey and Jane Bryant Quinn are systematically misinforming Americans with inflated claims about mutual funds—the core investment for American’s 401(k)s and retirement savings.
– Elites in the America Empire (bankers, The Federal Reserve, government employees, highly compensated executives) do not speculate with their savings in mutual funds. The prefer guaranteed products backed by company balance sheets and life insurance companies.
– While inside executives accumulate vast fortunes with lavish pay packages, rank and file employees are being corralled into complex volatile mutual funds controlled by the asset management industrial complex. The author reports how Apple, Best Buy, Borg Warner, CBS, Cisco, Coca-Cola, Computer Sciences, COSTCO, Disney, Eastman Kodak, EMC, Ford Motor, Fortune Brands, Fluor, The Gap, Gannett, Goodyear, Honeywell, Humana, IBM, Kroger, McKesson, Medtronic, Microsoft, News Corp., New York Times, Nextera, Oracle, Parker-Hannifin, Pepsi, Raytheon, Rite Aid, Rockwell, SAIC, Stanley Tools, Target, Textron, Thermo Fisher Scientific, United Airlines, Valero, Waste Management, Wells Fargo, WellPoint, Whirlpool, Whole Foods and hundreds more have put their employees retirements at risk by steering their people into mutual funds without any guarantees.