The state of the kleptocracy
Barry Ritholtz provides a useful summary of the crimes committed by the financial sector, complete with links and sources:
Some say it will end in fire (inflation), others in ice (deflation). But either way, it will end.
In the meantime, be sure to start a corporation and hire yourself before committing any crimes. Then fire yourself, and tell the police that you are no longer with the company when they come to investigate. They will then turn the matter over to the appropriate regulatory agency, which will fine the corporation about five percent of the profit you made from your illegal acts. This is what passes for criminal justice in America circa 2012.
Laundering money for drug cartels. See this, this, this and this (indeed, drug dealers kept the banking system afloat during the depths of the 2008 financial crisis)If it is not eminently clear that there is no rule of law whatsoever in the USA, this should suffice to prove it. It should come as no surprise that financial crime and corruption are on the upswing, as it has become increasingly obvious, even to those who don't pay any attention to the financial sector, that the entire system is a criminal enterprise run by short-sighted financial gangsters. However, since they're fast running out of other people's cows to milk, as exhibited by the fact that less than one-third of the people who owe $1 trillion in school loans are repaying anything, the whole structure appears to be rapidly approaching collapse.
Laundering money for terrorists
Engaging in mafia-style big-rigging fraud against local governments.
Shaving money off of virtually every pension transaction they handled over the course of decades, stealing collectively billions of dollars from pensions worldwide.
Charging “storage fees” to store gold bullion … without even buying or storing any gold . And raiding allocated gold accounts
Committing massive and pervasive fraud both when they initiated mortgage loans and when they foreclosed on them.
Some say it will end in fire (inflation), others in ice (deflation). But either way, it will end.
In the meantime, be sure to start a corporation and hire yourself before committing any crimes. Then fire yourself, and tell the police that you are no longer with the company when they come to investigate. They will then turn the matter over to the appropriate regulatory agency, which will fine the corporation about five percent of the profit you made from your illegal acts. This is what passes for criminal justice in America circa 2012.
56 Comments:
Speaking of fire and ice, when is the first installment of the great redneck vs euro fag money supply debate?
Of course there is a rule of law. Unless you went to Harvard.
We've gone on long enough demanding justice. It is time for the people to exact it themselves. How funny would it be to put a couple of these bankers' heads on pikes outside their suburban mansions?
I want to go there and follow the links but I'm afraid my blood
pressure might take me down. Will go there, of course, when I need a good measure of anger.
lol July 19, 2012 12:52 PM
How funny would it be to put a couple of these bankers' heads on pikes outside their suburban mansions?
Funny? No. Not really funny. These bankers kids and spouses probably are as unaware of the theft as most of America.
But, likely? I think so. Because being a banker is like being in the mob. If the police (people) don't get to you first, then the mob (other bankers) will.
What is funny is that on many websites, junior Banksters are defending the fraud and theft. Saying "If you don't let us do this, the world as you know it will end".
Threats like that work with the ruling class, but most people eventualy start wondering if that wouldn't be a good result.
Phase one, collect underpants...phase three, profit!
But, Vox, Willard and Limpbutt have assured us the corporations are people too.
So, is it possible for an entity which is conferred personhood status, do immoral acts. Or can only people commit immoral acts.
And is theft really immoral?
farmer Tom
But, Vox, Willard and Limpbutt have assured us the corporations are people too.
The secularists scoff the Old Testament concept of the scapegoat, yet they come up with the exact same concept themselves.
I find the student loan problem the most fascinating as the societal repercussions of taking out this non-expungeable debt go way beyond bank balance sheets.
The federal muscle includes garnishing wages (up to 15%), intercepting your tax refunds and, if it gets that far, siphoning off some of your social security once you’ve retired.
A generation is delaying their entire lives due to this debt. It's going to be messy. Perhaps their best hope now is during the fire or ice they get written off with the rest.
"Engaging in mafia-style big-rigging fraud against local governments."
Shirley you must be joking ...;)
'Fraud: Why the Great Recession'
http://player.vimeo.com/video/45687897
The US vs. Carollo case should make every American grab a pitchfork and a torch.
But it won't.
"Funny? No. Not really funny."
Uhh, yes, yes it is. If tomorrow morning people woke up and read that overnight a bunch of bankers' heads had been put up on pikes as a warning to others, most people would probably say, it's about time. Indeed, you may even find a great many of them laughing all the way to the bank. TO BURN THEM DOWN.
And there is no reason to assume their spouses and children are "innocent." In many cases the spouses are also part of the banking mafia, or they work as part of the conspiracy in the regulatory agencies, and their spoiled children are nothing but parasites living off of the stolen money.
If you are waiting for the police to arrest this scum, don't hold your breath. They own our government. Police work for them.
Those who dream that the proles, zeks and helots will somehow wake up in sufficient numbers to actually mount parboiled banksta heads on stakes are delusional. The idiocracy has absolutely no clue. Their faces go completely blank when you try to tell them about it. One would be more successful informing a dog. When their listing party barge finally goes over the falls, those left alive will go after the relatively few folks smart enough to have prepared for the inevitable in a zombie apocalypse on steroids. The bankstas and their clans will be long gone by that time - safely ensconced in a new place like China to soften up their next flock of 'marks'.
Really, this is has gotten to the point of not being surprising at all. As another commenter said "Stick meet dead horse." At this point we are just writing it down as we go for the next generations for when they say "Why?"
I am awaiting the great awakening that Vox will have where he stops trying to open people's eyes with logic and facts and starts preaching the Gospel. Really, there is hope for nothing else. The Gospel is the STARTING point for understanding and wisdom and much more valuable in the times to come... "The Lord is my Helper and I shall not fear what man shall do to me!"
There are those of us who see, and we appreciate the posts because then we know we are not alone.
@ LOL Do you really think we cannot tell you are just a provocator? Please, how boring!
@ Lysander
"Shirley you must be joking ...;)"
I am not joking and don't call me Shirley! LOVED that movie :)
@ Gen Kong
"safely ensconced in a new place like China to soften up their next flock of 'marks'."
Weirdest thing, I was watching that House Hunter show and they are showing people house hunting in China (from America). Who on earth would want to live in China..........oh.....
Joseph Farrah is on AJ today (I usually don't listen but this post made me check and see what he has up there). Kind of the nail in the coffin for me, now I know I don't buy what AJ and Coast to Coast are selling.
The Gospel is the STARTING point for understanding and wisdom and much more valuable in the times to come...
Yes, the one thing we don't get to do, is act all shocked and surprised that our money was taken. We were warned in advance.
Luk 12:33 "Sell your possessions, and give alms; provide yourselves with purses that do not grow old, with a treasure in the heavens that does not fail, where no thief approaches and no moth destroys."
Now the thief has approached, and the earthly treasure is gone. How very unsurprising.
"Do you really think we cannot tell you are just a provocator?"
Uh oh, you got me. Now you've blown my cover. I'll have to go report back to my superiors in the FBI and at Citi that they need to send in a different agent.
Even though they are understaffed and outgunned, thank God the cops are around to take down these bankers.
Oops. Typo. I didn't mean bankers. I meant Fred Willard.
Good thing they are keeping the streets safe from people who aren't in the streets....
I barely have 2 nickles to rub together right now, but at least I wont burn in hell for this kind of blatant disregard for God and His justice.
sincerely
cheddarman
I would like all and sundry to notice this sentence from Ritholtz:
"Cheating homeowners by gaming laws meant to protect people from unfair foreclosure".
Notice the phrase, "...by gaming laws".
"Where money is prized, virtue is despised." ~ Socrates
That is Econ 101.
And then notice Ritholtz's own name for his blog "Financial WAR Reports". Yes, Johnny, econonics is war--How I can be rich overnight and take from all around me. That is econ 101.
Yes, dad gummit, we need more laissez faire capitalism alright. We need to stop those pesky regulations.
But how can you have regulations when every swinging d*** out there is "gaming the system"?!
Yes, Johnny, Economics is a science ---- of skulldudgery!
lol July 19, 2012 1:29 PM
"Funny? No. Not really funny."
Uhh, yes, yes it is. If tomorrow morning people woke up and read that overnight a bunch of bankers' heads had been put up on pikes as a warning to others, most people would probably say, it's about time. Indeed, you may even find a great many of them laughing all the way to the bank. TO BURN THEM DOWN.
Ahh ... I see that you aren't really aware of reality. Yes, I'm sure many people will think the deserved it, and they likely do. But see a head on a pike in a movie isn't quite the same as seeing it in real life. And talking about burning a bank down, isn't quite the same as doing it.
Unless of course, you are a member of a particular club that you're not supposed to talk about. Are you snow flake?
Agreed.
We are in post American times, times of lawless surreality.
(Is it after the banker receivership is complete the UN gun treaty will follow to end the 2nd amendment.)
On AJ: Farah said that years ago he used to run around with B. Dorn and that ilk, worries a great murderous purge awaits patriots and wonders what will happen to America. I was surprised too hear him again on AJ. Rush is talking about O'romney and how voting works and that we must vote b/c the current admin is so bad.
If the right thinks installing pro-war Condi version 2.0 is going to win an erection from repubs who bought the neocon lies have another thing coming. Collapse, endless unemployment and mass gov't dependence. Putin will silence Condi's credentialism in one second.
No, no. There will be no deaths or jail for them. They will triumph.
In the meantime, be sure to start a corporation and hire yourself before committing any crimes. Then fire yourself, and tell the police that you are no longer with the company when they come to investigate. They will then turn the matter over to the appropriate regulatory agency, which will fine the corporation about five percent of the profit you made from your illegal acts. This is what passes for criminal justice in America circa 2012.
How sound is this advice? I'm not kidding. In a nation with so many twisted laws that everyone is technically a criminal, how much potential heat can one deflect with this or other strategies?
I seem to remember hearing about a book which described techniques for protecting yourself and your assets from various threats such as divorce, civil suits, and at least some government investigations and actions, but I didn't buy it at the time. The more corruption, stupidity, and laws I see in America, the more I wish I had.
I'm sorry people. This is NOT about "Banking". Banking is an institution.
It is the PEOPLE stupid!
Who fill the Banking industry? PEOPLE.
Where do these banks hire from?
MIT, Harvard, Columbia, Princeton, Yale, Oxford, etc!
What is ingrained in them as a child and from the media?
THEIR PARENTS. What do their Parents tell them?
Go to College---Make a ton of money! This comes from their parents! All the banking elite come from the monied elite who go to expensive colleges--to what--make more money. It is all about the money! Colleges feed this frenzy!
Shoot the bankers? Who taught the bankers to act the way they do? Parents and Academia. The Media teaches that the only thing worthwhile is being Rich!
There's regulation, and then there's regulation.
There's the blatant theft of trillions of dollars. THAT kind of regulation has about three low-level, cubicle drones assigned to investigate it, and seems to take just years and years, with no real results. "Gee, regulation is hard", says Federal Regulator Barbie.
Then there's the OTHER kind of regulation. Joe Strip Club Owner, out in East Nowhere, Montana, fails to provide access ramps to the stage for any possible wheelchair-bound pole-dancers, and within twenty four hours, the OSHA swat team breaks down the door to his house at three AM, and shoots him nine times in the back, while he was "resisting arrest." "Its for the children", says Federal Regulator Barbie.
DT: "How sound is this advice? I'm not kidding. In a nation with so many twisted laws that everyone is technically a criminal, how much potential heat can one deflect with this or other strategies?"
Not sound at all. It was rhetorical, tongue-in-cheek. The fact that DoJ has steadfastly refused to prosecute big name corporate executives doesn't mean they'll not come after Joe Shmoe with a vengeance. C.f., Martha Stewart.
Unless you have connections, don't count on hiding behind the corporate wall.
"I seem to remember hearing about a book which described techniques for protecting yourself and your assets from various threats such as divorce, civil suits, and at least some government investigations and actions, but I didn't buy it at the time."
That's another matter, entirely. Yes, there are ways to legally protect your assets -- including through establishment of LLCs, corporations, trusts, etc. -- that can provide a certain amount of civil liability. But they will not provide you any immunity from criminal liability.
That should be that can provide a certain amount of immunity from civil liability....
DT muses: How sound is this advice? I'm not kidding. In a nation with so many twisted laws that everyone is technically a criminal, how much potential heat can one deflect with this or other strategies?
Fuggetaboudit, DT. Only those who are members of the outfit get away with this type of lawlessness. Any prole, zek or helot who attempts something along those lines will be indicted and prosecuted with full force. Unless your last name is Blankfein, Bernanke, Soros, Zuckerberg, or something similar you will be in jail before you even get started - serving as 'woman' to some 400-lb thug named Latavius Shaniquavous.
...For I was envious of the arrogant
As I saw the prosperity of the wicked...
Behold, these are the wicked;
And always at ease, they have increased in wealth...
It was troublesome in my sight
Until I came into the sanctuary of God;
Then I perceived their end.
Surely you set them in slippery places;
You cast them down to destruction.
How they are destroyed in a moment!
They are utterly swept away by sudden terrors!
Psalm 73
They will get their reward, and it will be far more just than we could ever bestow upon them.
"But see a head on a pike in a movie isn't quite the same as seeing it in real life."
You're right. It would be much more satisfying to see their heads impaled on one of the stakes in their white picket fence.
Let me remind you all that I hazard the guess that all the people involved in these shennanigans have business degrees and STUDIED ECONOMICS in College!
All of them have!
You mean to tell me that despite an education in economics---they still engaged in stuff that will cause economic collapse?
Come one, someone, tell me this ain't true! Tell me that economics is a science--and that everybody learns this science in College!
Or is it all magic? Is this why Ben Bernake waves his magic wand, this scholar of the Great Depression?
"Uh oh, you got me. Now you've blown my cover. I'll have to go report back to my superiors in the FBI and at Citi that they need to send in a different agent."
That's what you get for sleeping through the conference call this morning with AJ. Right before bathroom and puppy kicking break; he said for us to quit using heads on a pike, the people are on to it.
Vox, Farah actually said (AJ's show) that if Obama was re-elected he (Farah) would be killed. He wasn't joking.
I'll email you the clip if you want it.
He said he didn't like Romney, but he won't kill you. I chit you not.
> Tell me that economics is a science...
Economics as a science could fairly well be compared to alchemy.
A good list. But Barry Ritholtz has one big problem - the government can do no wrong. According to him, the people who take oaths of allegiance to the nation and its constitution bear no responsibility for the housing crisis, only those evil-doers on Wall Street. So I am very skeptical of anything he says.
This is what passes for criminal justice in America circa 2012
no, that's what passes for criminal justice FOR THE WEALTHY AND POWERFUL
be very certain that criminal justsis for low-income american men is quite different
a good piece
The general consensus on the BC/Documents issue is that we have a fraud as POTUS. An incident of paradigm shifting proportions is culminating in the Strait of Hormuz. There exists, a group of retired generals who have had about enough. A legal scholar has proposed a scenario that could come to pass even more so, between now and the end of the year, more acutely than any previous perceived period in our history. Remember, in the end, and history proves, Lenin and Mao were right. "When one walks in the cold shadow of Nemesis, hubris is not enough of a cloak." In the meantime, Nibiru (Wormwood) and the 26,000 year planetary alignment approaches...
"The secularists scoff the Old Testament concept of the scapegoat, yet they come up with the exact same concept themselves"
oh theyve improved it substantially (WWI and WWII, JFK, RFK, MLK, branch davidians, it's endless, unfortunately)
the banksters are types of modern pirates (but not in the goofy, lovable cinematic sense!)
they largely descend (often via transgenerational kinships) from the various East India Trading Companies (opium etc)
these psychotic kleptos are not new in human cultures
the psuedo-religious Templars (worshipping goddess, not God) began international banking practices and networks, and the current rotten crop are their foul and pathetic get
this is one reason that in recent years the Templars et al have gotten a makeover in popular culture -- one cannot alter the public mind directly on such an issue (i.e., the banksters = good) but one can alter the collective subtly thru popular culture, and let the effect seep down gradually, and without overt coercion
cheers
I am awaiting the great awakening that Vox will have where he stops trying to open people's eyes with logic and facts and starts preaching the Gospel. Really, there is hope for nothing else. The Gospel is the STARTING point for understanding and wisdom and much more valuable in the times to come... "The Lord is my Helper and I shall not fear what man shall do to me!"
couldnt have convinced me of any of that 20 years ago, but i've gotten an education since
God is still with us (but not US), Christ is at the doorway, and the bible still points the way outta babylon
thanks for that comment
Laughing... did you get that Templar nonsense from Dan Brown?
The Templars were murdered and their wealth confiscated.
Interesting that the author of the aforementioned first link, has a Ph.D in criminal justice. That a secular astrophysicist calls Nibiru (Sumerian) -- Nemesis. Too much synchronicity here. I don't believe in coincidences... (Neither did Obi-Wan Kenobi, or the Jedi/Jesuit Order) [1]
---------------
[1] There apparently are good Jesuits. (i.e. Pat Buchanan, Gen. Peter Pace [2], Ron Paul, Lew Rockwell, Michael Scheuer, Steve Pieczenik, et al) [3]
[2] My belief is that Pace is part of those "generals" Evansen mentions. [4]
[3] One does not need to be necessarily RCC to be S.J. trained. (i.e. the Clintons)
[4] Yes, Pace is RCC.
[5] We are just hitting the "tip" of the iceberg here. Do you really want to know the Whole Truth?
@Godfrey July 19, 2012 8:09 PM
Not all of them. What you were taught in Sunday School. Time to graduate to Adult Bible Class. Need to do more homework. Brown is merely an AP, promulgating half-truths, in exchange for fame and fortune. Truth is out there. You just need to seek it.
Yes, the one thing we don't get to do, is act all shocked and surprised that our money was taken. We were warned in advance.
Luk 12:33 "Sell your possessions, and give alms; provide yourselves with purses that do not grow old, with a treasure in the heavens that does not fail, where no thief approaches and no moth destroys."
Now the thief has approached, and the earthly treasure is gone. How very unsurprising.
True enough...the observation that spiritual wealth is fare more important that $$ kind is of course on-target.
It is important though to note that this particular Bible verse was directed toward the rich man for whom wealth was an obstacle to salvation and was not a general commandment to sell all your stuff.
This is similar to the issue of the plucking out of the eye or the chopping off of the hand, the core issue here (which is what I interpret your post as having to do with) is to put things in perspective and remember that earthly wealth is fleeting and that in this fallen world the bad guy often wins, and temporal lucre along with it.
It is amazing how little (well one really) human nature has changed. Men still sell their eternal souls chasing temporary wealth. MPAI and all that but still it is pretty depressing...
lol July 19, 2012 12:52 PM
We've gone on long enough demanding justice. It is time for the people to exact it themselves. How funny would it be to put a couple of these bankers' heads on pikes outside their suburban mansions?
You a government troll, boy? All het up for action, looking for validation of your extremist views so you can check off one more blog for your underwriters to put on a list?
You guys are so unsubtle. I went to a concert at a university once,(in the sixties) and there were two guys there who looked like they were from a fifties surf club.
Spot the narc was ruined forever.
lol July 19, 2012 3:37 PM
"But see a head on a pike in a movie isn't quite the same as seeing it in real life."
You're right. It would be much more satisfying to see their heads impaled on one of the stakes in their white picket fence.
Go tell your handler you been busted, bitch.
"lol" handle........seriously?
...For I was envious of the arrogant
As I saw the prosperity of the wicked...
Behold, these are the wicked;
And always at ease, they have increased in wealth...
It was troublesome in my sight
Until I came into the sanctuary of God;
Then I perceived their end.
Surely you set them in slippery places;
You cast them down to destruction.
How they are destroyed in a moment!
They are utterly swept away by sudden terrors!
Psalm 73
They will get their reward, and it will be far more just than we could ever bestow upon them.
Amen.
Josh July 19, 2012 12:50 PM
Speaking of fire and ice, when is the first installment of the great redneck vs euro fag money supply debate?
I literally LOLed at this. Plus, I'm looking forward to that debate too.
Per aintitcool.com, As for Branagh's role in the plot [of the new Jack Ryan flick], his goal is to collapse the American economy by bottoming out the value of the U.S. dollar.
I'm taking this to mean that the PTB, AKA YKW, are expecting deflation.
Time to move. Maybe to Italy.
Verse of the Day
"Habakkuk 2:6-10 (New American Standard Bible)
6 Will not all of these take up a taunt-song against him,
Even mockery and insinuations against him
And say, 'Woe to him who increases what is not his--
For how long--
And makes himself rich with loans?'
7 "Will not your creditors rise up suddenly,
And those who collect from you awaken?
Indeed, you will become plunder for them.
8 "Because you have looted many nations,
All the remainder of the peoples will loot you--
Because of human bloodshed and violence done to the land,
To the town and all its inhabitants.
9 "Woe to him who gets evil gain for his house
To put his nest on high,
To be delivered from the hand of calamity!
10 "You have devised a shameful thing for your house
By cutting off many peoples;
So you are sinning against yourself.
"
Laughing... did you get that Templar nonsense from Dan Brown?
dan brown is a stooge, a coward, and a goddess-grovelling liar
The Templars were murdered and their wealth confiscated.
where do you get your history? out of hollywood moovies?
that was just one incident, and the activities of the templars by no means ended with one incident
they regrouped quickly, and they are the banksters, and always have been
next time, study a little history BEFORE commenting
Just watched part of the HSBC hearings on CSPAN.
If this were a movie then right after the evil banker admits peeling all the 'Hecho in Iran' labels off the packets of unmarked bills the cops would have handcuffed him and read him his rights. Roll credits.
Unaccountably , instead, Levin called for a recess and thanked the bankers for the candor.
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