and nothing will be done but a mock trial and slap on the wrists and laws to hide the corruption from the people...
we have seen the enemy, and they are us.
any old timers remember where that quote came from?
t
This is Matt Taibbi of Rollingstone. The odds of his being correct about anything concerning markets is about 3 billion to 1.
Excellent story. Worth the read. Here is an interesting statement from the story:
The bad news didn’t stop with swaps and interest rates. In March, it also came out that two regulators – the CFTC here in the U.S. and the Madrid-based International Organization of Securities Commissions – were spurred by the Libor revelations to investigate the possibility of collusive manipulation of gold and silver prices.
even better:
“But the biggest shock came out of a federal courtroom at the end of March – though if you follow these matters closely, it may not have been so shocking at all – when a landmark class-action civil lawsuit against the banks for Libor-related offenses was dismissed. In that case, a federal judge accepted the banker-defendants’ incredible argument: If cities and towns and other investors lost money because of Libor manipulation, that was their own fault for ever thinking the banks were competing in the first place.
“A farce,” was one antitrust lawyer’s response to the eyebrow-raising dismissal.”
For a Navy lieutenant and former officer (Chris Dorner) to go beserk and kill only law enforcement personnel over grievances knowing full well the consequences tells us something is VERY, VERY wrong with the LAPD and more than likely with every major police department (and many smaller ones) in the United States. However, the DOJ does NOTHING to look into the problem. All the news about that just died. A couple of whack jobs blow people up in Boston and the entire city, mostly unarmed, is shut down. What would happen if a REAL team of guys instead of wannabees wanted to cause problems across the nation? The entire economy would come to a standstill.
The markets are completely rigged. As someone so aptly posted here, there is a "total disconnect from reality".
Gold and silver prices are completely manipulated.
Gun and ammunition markets are being manipulated to enrich the producers of same and fit the agenda of those who would disarm and enslave us. Suddenly, criminals aren't the issue, law-abiding citizens who buy guns and ammo are.
We do not live in a representative democracy at all and haven't for years. It has been for years an oligarchy whose members are yet to be identified. By the actions of certain members of Congress lately, it's obvious party has nothing to do with decisions or philosophy of governing at all.
The media, which should be looking in to some of this only reports what those in power want it to report. Most all who deviate from the approved line face persecution or perhaps other consequences.
Most organized religion is a total manipulation to serve the interests of the people who run those religions. The truth has been manipulated and turned into a lie where homosexuality and abortion are acceptable, and evil people are the figureheads of religious groups. A few small churches still exist with members trying to follow the Bible, but very few. Almost all morality has been thrown out the window with business opposing homosexuality marked for destruction by the powers that be.
The Bible so clearly warns nations and people about rejecting God, but as usual, almost no one pays heed. The hand is definitely writing a message on the wall...
Mene Mene Tekel Upharsin
They actually did do this. Amoral twerps, every last one of them, and someone should have called out the LIBOR system for a sham years ago. I had no idea that very little money if any was actually changing hands in those “fixings” (a term that takes on a double meaning now in hindsight, as in “the fix is in”)
ONE THING TO REMEMBER THOUGH!!! They were always putting in LOW prices, so for the homeowners and other borrowers with LIBOR-linked liabilities, these actions BENEFITED THEM and LOWERED the rates they would pay on those days. The losers were bondholders with LIBOR-linked assets.
Read the whole article. The poor Democrat-controlled cities and states have been swindled by big fat cat bankers! The Democrat-controlled big cities are broke because of the Republicans! Detroit is screwed up because of Bush! The Democrat mayors and city councils, who have nothing but love for their citizens, were really trying to do the best thing. It was the evil bankers that forced them to be stupid, greedy and criminal. What a bunch of bulls**t.
I won’t read the whole article because I despise Taibbi, but I will say that the markets are rigged in my opinion and basically the wolves run the hen house.
After the 2008 crash, it was apparent that the corruption is deeply entrenched throughout all the watchdog agencies, ratings agencies etc. As it stands, there is no rule of law and no market punishment for failure - EVER. The entire system is a sham hanging by a thread and propped up by corrupt governments including our Chicago thugocracy.
“The people who cast the votes decide nothing. The people who count the votes decide everything. ..
It is individuals that do rigging. Who are the people doing it? Names! Pictures! It is NOT BANKS that manipulate they are abstract entities managed by people by and through which they act.
btr
Matt Taibbi is so sloppy in his reporting you really can’t believe anything he writes. He’s consumed by a hatred of capitalism and wants to discredit it, which leads him to misrepresent the facts. Far better if someone objective would write about this — someone whose ability to be factual can be trusted. Failing that, all we have here is a diatribe.
Taibbi has done some good work (it seems to me) but what is it about the left and their hatred of people who simply disagree with them? For example it's finally knownNYTIMES CONFIRMS: MASSIVE FRAUD AT USDA IN PIGFORD; BREITBART VINDICATED
.. and here's Taibbi the morning following Breitbart's death
Andrew Breitbart: Death of a Douche
Matt Taibbi: So Andrew Breitbart is dead. Here’s what I have to say to that, and I’m sure Breitbart himself would have respected this reaction: Good! F*** him. I couldn’t be happier that he’s dead.