Posts under ‘Corruption’

Were not talking about minor rule violations here or a handful of isolated incidents. This is willful, widespread, systematic serious felony criminal activity, yet no one goes to jail.

12.8 Trillion to bail out the financial sector, no accountability, no rule of law. As the Federal Reserve and the Treasury squander our tax dollars on bankster bonuses while the rest of us live the results of their malfeasance, bankruptcy, foreclosure, unemployment and food stamps.

The result will be that markets don’t recover which means the economy wont recover as we pursue an extend and pretend strategy just like the Japanese.

Never have so few, done so little, and made so much, while screwing so many. “On the Forbes list of rich people, you will find hedge fund managers in droves, but no one who made his money as a hedge fund client.”

A detailed look of the banks deliberate promotion of the sub-prime lending fraud and other credit bubble blowing strategies that ultimately precipitated the housing crash and financial crisis we have today.

A discussion of the roles played by the Federal Reserve, Congress, the banking sector and others in the current crises. Essentially they new it would end badly yet deliberately promoted and fostered it.

What we got was a 27.2% plunge in existing home sales to the lowest figure since 1999, when the NAR started keeping records, as sales hit 3.83 million units annualized. A record drop to a record low as months supply hit a record high of 12.5.

Perhaps Mr. Cuomo should look into that as well because just like the AIG deal, their both dirty and quite probably involved the breaking of more than a few laws.

I think they overplayed their hand this time, just like 1929, hubris breed’s contempt. The societal backlash then was significant and it will be yet again because when somebody loses their job, house, car, savings, pension and concept of fairness and equality as they understood it, they have nothing left to loose.

How does it go, “no justice, no peace”. The demonstration in Watsonville earlier this week at the Chase bank is an expression of the public’s frustration with a lack of justice as the banksters collect their bonuses while John and Jane Doe collects food stamps, unemployment and foreclosure notices.