The final countdown?

Apart from the central banks, Eurozone ministers will shortly unveil their own proposals to "save the Euro." It will probably be a "solution" which, in its essentials, is already well-worn. It can hardly be otherwise – it can hardly be innovative and imaginative - since it was promised for revelation in only "ten days" or, more precisely, at a summit ministerial meeting to be held on 9 December 2011.

Initially, the news from the central banks and from the Euro gentlemen was greeted enthusiastically.

The markets celebrated.

The resultant sudden sharp market volatility once more promised fortunes for professional traders; but it promised nothing to the poor and unemployed except more austerity and more misery in their everyday lives.

The market euphoria lasted twenty-four to forty-eight hours. The traders will continue to make money on the volatility of the markets even in between spikes. The banks will continue to enjoy the affection of the rich and powerful. The poor and unemployed will protest again. They will strike again. They will initiate movements for fairness and against austerity – once again.

Among them there won't be any euphoria. Not yet, in any event.

We have now received reports – probably more reliable than anything before – that the Fed made $7.7 trillion available to banks at giveaway interest rates in 2008.

It did nothing to resolve our financial or our real economic problems. It did yield $13 billion in profits to the major American banks; but it delivered even more misery to the ordinary homeowner and mortgagee, as well as to the skilled and unskilled man or woman looking for work. Indeed, everyone suffered more misery except those who were often the grossly greedy, incompetent and criminal bankers and their hangers-on.

Now we are again adding to the benefits for and bolstering the security of many of the unworthy at the cost of the unjustly deprived.

In defiance of the OWS and their supporters in the United States and around the world, we are, in virtual panic, doing what we have done before. Only this time, our leaders are implying, we will do it more thoroughly and with more devastating effects than ever,

This time the banks won't be required to do anything that won't make money for them at the highest level they can freely manage. They won't be called upon to help the small businessman and the small – or big – entrepreneur any more than they did in and after 2008. They will not be required to do anything to provide jobs for the jobless or aid for the impoverished. They will be expected to do no more than look after themselves – as regally as they can.

Governments will do nothing effective to control them. They are much too fearful of the banks to do anything to regulate the banks or, for the most part, other financial operators. Their nightmares do not seem to revolve around the irresponsible or criminal acts the banks might perform but rather around the horror that they might fail – go bust and leave us to find our solutions to our financial and economic problems without them.