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Old 02-18-2011, 11:02 PM
 
Location: Wisconsin
25,577 posts, read 56,570,103 times
Reputation: 23400

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NYT did a whole series about this corruption called - The Reckoning. Fascinating reading.

The Reckoning - Series - The New York Times

They are all in bed with each other and have got off scot free while the country is in a total ditch. Massive unemployment, foreclosures, lives ruined. And these birds are unscathed and fly high.

I've been saying for years, these individuals should be prosecuted and all their assets confiscated. But Goldman Sachs - it all goes back to Goldman Sachs - Paulson an alumni. The good ole boys club.

And Masters of The Universe, they remain.
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Old 02-18-2011, 11:04 PM
 
Location: South Jordan, Utah
8,182 posts, read 9,233,648 times
Reputation: 3632
They can't jail them when they are working or were working in the White House. Bush and Obama were and are loaded with former Wall Street and financial execs.

Regulations don't work, they are too big, written by lawyers and full of loopholes or create unintended consequences. The simple solution is one get ride of fractional reserve banking, debt backed currency and reform corporate charters. If corporate charters were limited in their scope, did not provide limited liability for owners and executives, they would be a lot easier to watch and very few would take the risks the do.

Last edited by hilgi; 02-18-2011 at 11:14 PM..
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Old 02-18-2011, 11:10 PM
 
8,104 posts, read 3,972,047 times
Reputation: 3070
Quote:
Originally Posted by Ariadne22 View Post
NYT did a whole series about this corruption called - The Reckoning. Fascinating reading.

The Reckoning - Series - The New York Times

They are all in bed with each other and have got off scot free while the country is in a total ditch. Massive unemployment, foreclosures, lives ruined. And these birds are unscathed and fly high.

I've been saying for years, these individuals should be prosecuted and all their assets confiscated. But Goldman Sachs - it all goes back to Goldman Sachs - Paulson an alumni. The good ole boys club.

And Masters of The Universe, they remain.

Thanks for the link.

There is a tonnage of detail there for me to read.
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Old 02-18-2011, 11:13 PM
 
Location: Wisconsin
25,577 posts, read 56,570,103 times
Reputation: 23400
Quote:
Originally Posted by J746NEW View Post
Thanks for the link.

There is a tonnage of detail there for me to read.
Oh, yes. It'll keep you going for a few days.
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Old 02-18-2011, 11:29 PM
 
Location: Wisconsin
25,577 posts, read 56,570,103 times
Reputation: 23400
Forgot to add - IT WILL HAPPEN AGAIN. So, watch your investments, people. There are NO controls. These guys are playing just about as fast and loose as they always have.

Simon Johnson:

Derivatives Industry Report Collapses « The Baseline Scenario

Also, search for his interview on Washington Journal on C-Span about a year ago.

Or, Frontline report. Brooksley Bourne predicted this was coming and she was fired.

I paid a lot of attention to this issue for quite a while. But it got too depressing. And when I heard Johnson say a year ago that it will happen, again, I pretty much gave up following it. We are all pawns.
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Old 02-18-2011, 11:47 PM
 
Location: Homer Alaska
1,055 posts, read 1,874,752 times
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And meanwhile, the powers that be have all of us so at each others throats that the American people are not rising up and DEMANDING that something be done. Divide and conquere.
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Old 02-18-2011, 11:53 PM
 
3,264 posts, read 5,600,155 times
Reputation: 1395
Quote:
The systematic lack of regulation has left even the country's top regulators frustrated. Lynn Turner, a former chief accountant for the SEC, laughs darkly at the idea that the criminal justice system is broken when it comes to Wall Street. "I think you've got a wrong assumption - that we even have a law-enforcement agency when it comes to Wall Street," he says.
But the SEC wants more money. Hmm.

Pls check your direct message box
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Old 02-19-2011, 12:11 AM
 
8,104 posts, read 3,972,047 times
Reputation: 3070
Quote:
Originally Posted by Ariadne22 View Post
Forgot to add - IT WILL HAPPEN AGAIN. So, watch your investments, people. There are NO controls. These guys are playing just about as fast and loose as they always have.

Simon Johnson:

Derivatives Industry Report Collapses « The Baseline Scenario

Also, search for his interview on Washington Journal on C-Span about a year ago.

Or, Frontline report. Brooksley Bourne predicted this was coming and she was fired.

I paid a lot of attention to this issue for quite a while. But it got too depressing. And when I heard Johnson say a year ago that it will happen, again, I pretty much gave up following it. We are all pawns.
Yea, I watched the frontline segment where Brooksley Born by herself tried to take on Summers, Reuben and Greenspan to regulate derivatives in 1998.

Brooksley is a real American Hero for trying to do what was best for the country, while those three had 13 banksters backing them, threatening economic damage if she was successful.


Quote:
"I walk into Brooksley'**s office ; the blood has drained from her face," says Michael Greenberge**r, a former top official at the CFTC who worked closely with Born. "She's hanging up the telephone; she says to me: 'That was Treasury Secretary] Larry Summers. He says, "You're going to cause worst financial crisis [He says he has] 13 bankers in his office who informed him of this. Stop, right away.
They knew dam well back then the damage they were causing but could care less.
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Old 02-19-2011, 12:20 AM
 
8,104 posts, read 3,972,047 times
Reputation: 3070
Unfortunately, the corruption is systematic and has been going on longer than we realize. Everything is hidden from the public view, or they hope people are not watching and researching this stuff.

Through their psychological games, they would rather program people to be good consumers and patriots to back their plans, and divide them via democrat and republican ideologies. They all serve the same masters.

This clip from youtube is rather simplistic but explains it alot.




http://www.youtube.com/watch?v=n7Fzm1hEiDQ
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Old 02-19-2011, 01:10 AM
 
3,264 posts, read 5,600,155 times
Reputation: 1395
Quote:
Originally Posted by J746NEW View Post
omg that graphic at 1:50 looks like the entire globe is one big 'times square'

good video

one thing america has going for it is unparalleled magnetism. people still flock here like moths to a flame. this magnetism has kept us afloat for decades but the glamour's wearing thin as people are starting to see the underbelly
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