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UG#732 - A Billion Here, A Billion There, Pretty Soon You're Talking Real Money

Robin Upton | 02.04.2016 00:24 | Analysis | History | Social Struggles | Sheffield | World

We look at a new topic on the show - one of the largest frauds committed in the USA in the 20th Century - and why it is that the looting of hundreds of billions of dollars has for the most part not only gone unpunished but uninvestigated. Our speaker is Pete Brewton, author of The Mafia, The CIA and George Bush.

ug732-hour1mix.mp3 - mp3 27M

ug732-hour2mix.mp3 - mp3 27M

This week's show combines two interviews from 1992. We hear episodes #483 and #484 of the classic independent media show, Alternative Views (which we last heard from in episode 695). The interviewee, Pete Brewton, gives a lot of details of what is generally agreed to be at least a 12-digit fraud (i.e. hundreds of billions of dollars). This was set up under the Reagan administration, made possible as a result of "deregulation" of Savings and Loan institutions, probably on the initiative of George H. W. Bush, who exercised control over the policy which transferred hundred of millions of dollars from law abiding US citizens to the criminal element. Our first hour is sourced from episode #483 of Alternative Views, detailing the mechanics of the S & L fraud, and the connections with some of the other criminal activities of what Oliver North referred to as "The Enterprise". After a musical interlude we proceed in Hour#2 with episode #484 (also from 1992) in which Pete Brewton explains how he first stumbled across the story, and gives some details of the difficulties he had getting it printed before the US Presidential election.

Music: The Billionaires are In The House by Billionaires for Bush

Thanks to Alternative Views for this episode's source material.

This episode rebroadcasts content from episode 621.

Robin Upton
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