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Vietnam shows us all how to deal with Banksters = Death Sentence.
According to the BBC, the former head of a major Vietnamese bank has been sentenced to death for his role in a fraud case involving illegal loans. Nguyen Xuan Son, who served as general director of OceanBank, was convicted of embezzlement, abuse of power and economic mismanagement. Bank founder, tycoon Ha Van Tham, and dozens of other banking officials are also on trial, accused of lending violations.
An outcome such as this in America remains impossible. We actually admire people like Jamie Dimon and Lloyd Blankfein. Those two Con-Men and Criminals are our idols. Theft will continue unabated in America until there is nothing left to steal.
Iceland practically hung their Banksters that caused their economic collapse from the rafters. (See Michael Moore's film: "Where To Invade Next?" for his interviews w/officials in Iceland.) Here in the US, we do bail-outs. We pay them to keep on keepin' on.
Vietnam shows us all how to deal with Banksters = Death Sentence.
According to the BBC, the former head of a major Vietnamese bank has been sentenced to death for his role in a fraud case involving illegal loans. Nguyen Xuan Son, who served as general director of OceanBank, was convicted of embezzlement, abuse of power and economic mismanagement. Bank founder, tycoon Ha Van Tham, and dozens of other banking officials are also on trial, accused of lending violations.
An outcome such as this in America remains impossible. We actually admire people like Jamie Dimon and Lloyd Blankfein. Those two Con-Men and Criminals are our idols. Theft will continue unabated in America until there is nothing left to steal.
After we're done with the bankers, let's go after all those folks who over extended themselves and bought stuff (houses, cars, etc.) they couldn't afford. They're just as guilty as the bankers. Financial irresponsibility will continue unabated in America until people start realizing the evil bankers/corporations/politicians are only part of the problem. Financially irresponsible people and folks who scam government public assistance programs are equally bad.
Vietnam shows us all how to deal with Banksters = Death Sentence.
According to the BBC, the former head of a major Vietnamese bank has been sentenced to death for his role in a fraud case involving illegal loans. Nguyen Xuan Son, who served as general director of OceanBank, was convicted of embezzlement, abuse of power and economic mismanagement. Bank founder, tycoon Ha Van Tham, and dozens of other banking officials are also on trial, accused of lending violations.
An outcome such as this in America remains impossible. We actually admire people like Jamie Dimon and Lloyd Blankfein. Those two Con-Men and Criminals are our idols. Theft will continue unabated in America until there is nothing left to steal.
It's funny. While the wallstreeters bear a lot of the responsibility, I never hear about calling for the heads of the people who gave the loans or (especially) the people who took loans they knew they couldn't afford.
The ones that create the policies lobbyists pass off to their puppet politicians are to blame.
These same entities say they are entitled to the lions share of the wealth because they take all the risks and yet when the chips are down want to pass the blame on people below them.
After we're done with the bankers, let's go after all those folks who over extended themselves and bought stuff (houses, cars, etc.) they couldn't afford. They're just as guilty as the bankers. Financial irresponsibility will continue unabated in America until people start realizing the evil bankers/corporations/politicians are only part of the problem. Financially irresponsible people and folks who scam government public assistance programs are equally bad.
Why do they get paid so much if they do not want to take responsibility for the risks they took?
Iceland practically hung their Banksters that caused their economic collapse from the rafters. (See Michael Moore's film: "Where To Invade Next?" for his interviews w/officials in Iceland.) Here in the US, we do bail-outs. We pay them to keep on keepin' on.
Ruth4Truth, the rich get rich by cheating and stealing. We should not forget this. Money is not the root of all evil; but the love of money is the root of all evil. It was obscene to watch Wall Street Banks and Financial Institutions being given billions of taxpayer money back in 2008 by their pal Hank Paulson from the U.S. Treasury (who is supposed to be serving the American public), while salaries rise and huge bonuses are paid to the very people who engineered their own companies’ bankruptcies. In fact, this is worse than obscene; it is criminal. The 1920’s in America had their Robber Barons. The rescued bankers, mortgage brokers, financiers and insurance men in 2008 – the worst and the greediest on Wall Street, and their cronies in government – should be all in prison now instead of enjoying the government welfare banquet.
Wall Street Banks were facing major collapse in 2008, as almost all banks careened toward default, insolvency, bankruptcy. The American Ruling Class was also going to have problems: Morgan-Stanley would be going; Goldman-Sachs would essentially be castrated; and, without massive intervention from their former boss, Henry Paulson (who made over $400 million dollars from Goldman-Sachs stock options before joining George Bush’s government), who essentially robbed American taxpayers to try save his friends on Wall Street, Goldman-Sachs would have vanished.
Quote:
What is the difference between a Banker and a Mafioso?
The Banker is the Mafioso at the end of his career.
The Mafioso is the Banker at the beginning of his career
I didn't hit a million until I was almost 50. Did I think I missed the boat because a few of my investment banker friends were making a million a year? Occasionally I did have those thoughts, but mostly I thought I was the luckiest guy in the world - I had an easy job (not a burnout job like the I-bankers), a beautiful wife, and I was finally a millionaire! I also kept going to work.
You've saved enough to buy a condo so you can move out of your parents' house - why don't you do it already. With 25-30% down, borrowing terms and requirements are much easier than with small down payments.
Once again, please refer to my Oakland real estate suggestion - and if you don't like Oakland, there must be other places....
I prefer to call these people financial terrorists
Look at the havoc the too big to fail did to this nation
From 2001-PRESENT we needed to raise rates and discourage debt. 2001 was the year when Growth Season or the Business Cycle ended. Real Economic Expansion ended in 2001. This is very important to understand!!!
Then we needed to destroy debt we accrued during the normal Growth Season that ended in 2001; and this is usually done (and SHOULD be done) by higher interest rates. The economy CANNOT grow during its NON-GROWTH season. Why lower rates in a NON-GROWTH season -- to protect asset prices. BUT protecting asset prices, protecting the last season of inflation (or Growth -- they are the same thing) is silly BECAUSE it does not decrease debt, it increases it. The goal of the NON-GROWTH season needs to be to bring prices down and to eliminate debt, so that the next Growth Season will be met by consumers with little or no debt AND affordable prices, an economy with flexibility to expand. Too much debt and prices that are too high makes an economy rigid.
What do we need? How are we going to destroy a huge mountain of debt today (much greater than in 2001) without higher interest rates? AND higher taxes on the rich, to help pay down our government debt.
Greenspan and Bernanke (and Yellen) only delayed the pain they did not eliminate it. I hope there is small percentage of healthy American individuals who can still understand what I'm saying here. The Fed only managed to delay the pain, to delay DEFLATION. BUT, you can't just avoid DEFLATION becuase it is painful.
The FED showed us we can steal money from the future to keep spending today. But that is lack of wisdom, and the fruit of GREED. A lack of understanding. Now, after all this administrative theft of future tax receipts to spend today, we are NOT ready for an economic expansion: we have SKY HIGH DEBT and sky high ASSET PRICES, the opposite of where we should be today.
The Lord gives and the Lord takes away. If you are uncomfrotable with the word "Lord" you can substitue "the Laws of Nature". Unless we raise interest rates, unless we allow Deflation and Depression to do it;s job of massive debt destruction we will NEVER experience any real economic growth, NEVER!!!!!!!!!!!!!!!!!!
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