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If one of the little people commit a crime, like rob a bank, or perhaps blow up a few people, then people are up in arms about bringing them to justice.
But, if you own a bank or two and some politicians and commit criminals acts that effect the whole nation of people, they get off free to do it again and again. Where are the pitchforks and angry citizens demanding justice upon these financial terrorists?
When a few powerful people get together to rig the markets in their favor, no-one seems to have a problem. Any mention of many of the people of this nation getting together to make decisions at the national level like the above cockroaches do, gets frowned upon as socialism or some other insulting name.
GREAT article. Eye-opening.
You called it----bankers are financial terrorists. They nearly brought America and the entire world to its knees with the collapse and recession, and they continue to manipulate interest rates and the markets on an unfathomable level. As the article said, the interest-rate swaps that they are manipulating are a massive $379 trillion market, about 100 times the size of the United States federal budget.
It's unbelievable how people heap abuse on all the supposed welfare recipients who are "gaming the system." The bankers ARE the system, it's THEIR game, they're playing it with OUR money, and regular people aren't even allowed on the playing field!
"This is from an exchange between a trader and a Libor submitter at the Royal Bank of Scotland:
SWISS FRANC TRADER: can u put 6m swiss libor in low pls?...
PRIMARY SUBMITTER: Whats it worth
SWSISS FRANC TRADER: ive got some sushi rolls from yesterday?...
PRIMARY SUBMITTER: ok low 6m, just for u
SWISS FRANC TRADER: wooooooohooooooo. . . thatd be awesome
Screwing around with world interest rates that affect billions of people in exchange for day-old sushi – it's hard to imagine an image that better captures the moral insanity of the modern financial-services sector."
Michael Hausfeld of Hausfeld LLP, one of the lead lawyers for the plaintiffs in the Libor suit:
"It's now evident that there is a ubiquitous culture among the banks to collude and cheat their customers as many times as they can in as many forms as they can conceive," he said. "And that's not just surmising. This is just based upon what they've been caught at."
"From gold to gas to swaps to interest rates, prices all over the world are dependent upon little private cabals of cigar-chomping insiders we're forced to trust."
There were Movements that pre-dated Occupy planned that sought to expose the same type of corruption.
If Americans truly need to come together on an issue, its the financial future of our country. It IS the most important topic in the country.
I honestly think its too late for the bankers and politicians in bed with them. There's Americans who've been on to them for years and I finally think there's enough support in this country to overthrow the corrupt ones.
I honestly think its too late for the bankers and politicians in bed with them. There's Americans who've been on to them for years and I finally think there's enough support in this country to overthrow the corrupt ones.
I still think we have a long way to go before that happens. If we start seeing a million people in the streets ready to fight if they have to, then change might just happen. As for the Tea Party and the Occupy Movement, the media was very effective in helping to squash both groups.
There were Movements that pre-dated Occupy planned that sought to expose the same type of corruption.
If Americans truly need to come together on an issue, its the financial future of our country. It IS the most important topic in the country.
I honestly think its too late for the bankers and politicians in bed with them. There's Americans who've been on to them for years and I finally think there's enough support in this country to overthrow the corrupt ones.
Politicians are not only in bed with the bankers, they are often the very same people! "More than half of the lobbyists working for the finance, insurance, and real estate sector areex-government officials -- in many cases, onetime lawmakers and staffers who helped write laws that deregulated the industry.
"The finance, insurance and real estate (FIRE) sector combined to spend $6.8 billion on federal lobbying and campaign contributions from 1998 through 2011, according to the Center for Responsive Politics' examination of public records. That's $1 billion more than any other sector spent on Washington."
We're learning now that the banks evicted people "in error" in over 30% of the cases during the housing crisis. Houses sit vacant now while hundreds of thousands of recent grads can't afford housing.
Hmm. Wonder why the market's not working in that scenario.
If people think capitalism is what we have they're not up to speed. We have cronyism, self interest, greed, and manipulation.
I'd rather have better food, better cars, more innovation, better medicine, better business..., then whatever we have now. Our inefficient state and federal governments tax and debt us to death just to pay for more incompetency. What we need to better efficiency in our government and officials working in the best interest of working Americans.
Politicians are not only in bed with the bankers, they are often the very same people! "More than half of the lobbyists working for the finance, insurance, and real estate sector areex-government officials -- in many cases, onetime lawmakers and staffers who helped write laws that deregulated the industry.
"The finance, insurance and real estate (FIRE) sector combined to spend $6.8 billion on federal lobbying and campaign contributions from 1998 through 2011, according to the Center for Responsive Politics' examination of public records. That's $1 billion more than any other sector spent on Washington."
The merging of government and corporate powers...smells like Fascism to me.
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