Posts Tagged ‘governments’

“Fight Against Stupidity And Bureaucracy”

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Now there’s a headline. Let’s repeat it…

Obama says Iraq’s government needs help!

Long live hypocrisy!

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Time for a Sunday Sermon I think!

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Iraqi flag

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I say hypocrisy for one simple reason, Obama  –  remember him, the man who was getting all the troops OUT of Iraq  –  wants to send them back in again because of the almighty mess that America, Britain and other western nations made blundering about in a country they didn’t understand.

It’s worse than that, of course, because Obama wants to send the troops back into Iraq to help stave off attacks by radical Islamists who have been making inroads in various parts of Iraq and are now threatening to close in on Baghdad itself.

This what he said, “I don’t rule out anything, because we do have a stake in making sure that these jihadists are not getting a permanent foothold in either Iraq or Syria.”

But hang on a minute.

There’s that stench of hypocrisy again.

Are these not the very same terrorists who Obama is supporting financially and with arms shipments in Syria?

They may have different names in different countries but these terrorists collectively want to establish an Islamic state in the region that surpasses national boundaries and governments. And from there, who knows?

It really is that simple. But it seems American foreign policy is in its usual state – completely confused, completely devoid of logic and good sense.

The mess that has been left behind in Iraq is catastrophic.

The country has more or less disintegrated politically and militarily, with Islamic militants capturing the country’s second-largest city this week after soldiers scattered, leaving their uniforms and weapons behind. So much for the $15 billion Washington (i.e., the American taxpayer) has already provided in training, weapons and equipment to the Iraqi government!

The result of this capitulation is that at least half a million ordinary citizens are understandably fleeing as the terrorists gain ground.

America’s ‘re-intervention’ will start with air strikes, possible using drones. But the chances of that doing anything more than temporarily halting the terrorists are slight. Next will come increased supplies of arms and equipment for the ‘official’ Iraqi forces. And then ‘advisors’ will be sent in  –  they’re probably already there, their presence will just be officially acknowledged.

There was a strong indication of what will come after that, when White House spokesman Jay Carney said. “We are not contemplating ground troops, I want to be clear about that.”

I have seldom seen a clearer admission that the White House is actively considering sending ground troops back into Iraq!

SoS Kerry has been wheeled out again to tell the world that the situation presently is not just a threat to Iraq, but to the United States and the rest of the world. We all know that John. What we also know  –  and what you don’t  –  is that more blundering about in a situation you do not understand, more young American live sacrificed for nothing, and more brave souls maimed for life to satisfy political whims won’t make things any better.

Will common sense ever prevail? Sadly I very much doubt it. The lack of understanding exhibited by the politicians seems to span all parties.

The lunatics are in charge of the asylum.

So there’s more stupidity on the way!

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Ethno-religious map of Iraq

Ethno-religious map of Iraq, courtesy of the Washington Post

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“Fight Against Stupidity And Bureaucracy”

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It’s Sunday so time for another Sunday Sermon.

There’s a famous quote from US President Abraham Lincoln that goes something like, “you can fool some of the people all of the time, and all of the people some of the time, but not all of the people all of the time”.

On the face of it Lincoln’s words seem rather clever and profound – and true. And so they are.

Up to a point.

But what Lincoln didn’t say (and he was a politician after all) is that you don’t have to fool ALL of the people ALL of the time.

What you have to do is fool them long enough to do what you need to do – for example, in the case of a politician, to get yourself elected.  

 

graph Miss Universe

Which brings me to statistics.

Because the best people in the world at playing with statistics are politicians and governments.

Some people believe everything they are told. Others call the figures governments produce ‘disingenuous’ which is being very kind. And some don’t believe a word or a number that they produce. (Take a wild guess at which camp I am in.)

Government statistical results are in effect lies. You can’t call them that – although I just did – because they can find figures to back up what they say, it’s just that they choose the figures that tell the story they want to promote and ignore all the rest that tell a different story.

For example, to get on to one of my favorite rant subjects, there is a thing which I am sure most of you have never heard of called the ‘Special Inspector General for the Troubled Asset Relief Program’ or ‘SIGTARP’ for short.

When the government is challenged about what is has been doing to bring to justice the banksters, who stole and recklessly gambled away our money, they can quote you a statistic or two saying that over the last few years, SIGTARP has put over 100 senior bank executives in jail, each of whom was convicted of stealing from taxpayers.

Although that fact is ‘technically’ or ‘statistically’ true, what they don’t tell you is that the people they have gone after and convicted are all small time crooks, guilty of small time frauds that are seldom above $1m or $1.5 million in value.

All the super crooks who embezzled hundreds of $ billions and almost brought down the entire financial system aren’t even being seriously pursued. More than six years into the SIGTARP investigations there are literally still hundreds of billions of outstanding ‘loans’, from banks including Citi, JP Morgan, Wells Fargo, and Bank of America.

They can quote figures all day long to try to mislead the people and make themselves look good, but a few small time crooks thrown in jail for stealing a million or two dollars here and there isn’t ever going to make much of a dent in the $ billions that were stolen. The politicians know that as well as anyone.

Perhaps Mark Twain’s “There are three kinds of lies: lies, damned lies, and statistics,” might have been a better quote!

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Many Happy Returns Webby!

Posted: May 10, 2014 in bankers, Business, Computers, Current Events
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“Fight Against Stupidity And Bureaucracy”

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World-Wide-Web

The World Wide Web, created by Sir Tim Berners-Lee, turned 25 years old this year, 2014.

There has never been anything like it before, certainly not as regards the impact it has made on society and the way we live our lives. Many of those changes are good, many are not so good and a few are downright annoying.

Here’s my take on some of them.

To concentrate on the good parts first, the one thing the www has done, for those who can use it effectively, is to give access to information that was previously only available to the elite few who managed to claw their way into the lofty heights of academia, or who worked in places where information was readily available. Now the same information is accessible at the touch of a button to anyone and everyone with a smart phone, tablet or computer.

Another benefit, in my view anyway, is that is has sent a massive wake-up call to telephone providers world wide, many of whom were fast asleep, content to rake in healthy profits from antiquated systems. No longer do we have to settle for slow and temperamental data transfer lines. Nowadays, particularly in the last few years, people are demanding systems that can cope with download streams in the gigabyte range. If you are old enough to remember the first modems you will know you wasted too much of your life trying to download at 12Kb/sec., sometimes less.

Freedom is also a welcome by-product of the World Wide Web.

The freedom to work in any country in the world, from virtually any country in the world is one big plus – it is for me anyhow. Another one I particularly like is the freedom to watch TV programs that I like, when I like, no longer tied to the schedules of some brainless bean-counter working for a broadcasting company. And the freedom to have your say on things as and when the mood takes you – they call that blogging don’t you know! – is also a great advantage to the ordinary person.

www words

As is the freedom to disseminate information across the globe instantly, as Mr Snowden ably demonstrated, although I would hazard a guess that the powers that be would not agree with me on that one.

Indeed, this is the one aspect of the www that really bothers big brother.

China for example is one country where access is controlled by the state. Coincidentally this year also marks the anniversary of the Tiananmen Square massacre, you’ll find articles about that if you do a search, but probably not in China. They get away with it because they are not a democracy and do not pretend to be one.

In other countries, like the good old Land Of The (Not So) Free (Anymore)), the powers still like to con their people into believing that they are living in a democratic nation and that the people have the power to vote for this or that. But think for a moment, when was the last time you got to vote on whether to start a war, or whether to give $billions of your money to the greedy banksters to pay themselves huge bonuses and gamble away the rest?

It is because they need to keep the pretence of democracy going, that they do not yet have the confidence to start overtly censoring the internet. But they do all they can to snoop on what people are reading, or writing, or looking at.

This is where the freedom the www and associated technology provides can also be a negative, when it is used by governments to surveil us and record every piece of data they can. If they were doing this selectively and targeting terrorists and criminals no one would be too worried. But they are doing it to all of us, guilty and innocent alike.

big brother is watching

They are also doing everything they can think of to impose taxes on internet commerce – of course they have to coz they’re stoney broke.

The www has revolutionized business practices and created all sorts of new commerce opportunities, Amazon perhaps being the best example of a company that has gone from nothing to a multi-billion dollar business in just a few years.

Communication and social interaction are also areas where the www has liberated the ordinary person – first with email and more recently with social media. In the near future expect to see social media expanding to become much more than individual platforms such as Facebook or Twitter. We are already seeing many new applications that are allowing people to communicate more widely, more easily and more often.

social media

Another negative is that the World Wide Web has unwittingly facilitated the proliferation of pornography and violence, and is teaching a generation of morons all the wrong things. Things that will ensure they become a burden on society, not an asset.

And it has also opened a whole new environment in which criminals can operate. Millions of dollars are being stolen every day through scams, confidence tricks and outright theft.

You could say (and I frequently do) that people dumb enough to fall for these scams deserve all they get, or all they lose, is perhaps a better way of putting it. You know, the idiots who believe they really have won a lottery they didn’t buy a ticket for, or who think that Dr Umbungo Watanga from Nigeria is being truthful when he tells them that someone they never heard of has left them $25 million and all they need to do is send all their personal details and a few thousand dollars to unlock the fortune that awaits them. There really is one born every minute it seems!

All that said, and twenty-five years on, the www is still in its infancy. We have come a long way in the past 25 years, but we have really only scratched the surface as regards what the web has the potential to do to further improve our daily lives.

Where the vision to develop the www will come from in anyone’s guess. The only thing we know for sure is that the initiative won’t come from governments or their bureaucratic servants, simply because the people we elect to those positions do not have the required intelligence.

So its up to you. If you have any great ideas you want to share, send me an email.

Sir Tim Berners-Lee

Sir Tim Berners-Lee, the man who created the World Wide Web.

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“Fight Against Stupidity And Bureaucracy”

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The Sunday Sermon

sermon

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Taxation is a perfect example of how the politicians and the bureaucrats have made things go haywire.

Such a monstrous collection of tax regulations has been accumulated over the years that even qualified accountants cannot properly decipher them.

There are allowances for this…. but not that…. except you can have it for that too…. but only if you do this first……

There are ‘eliminated items’ which may not be the same as ‘excluded items’, which is different from ‘excluded income’, not to be confused with ‘exempt income’, all of which you can have as deductions as long as everything has been ‘apportioned’ and/or ‘allocated’ according to the precise rules………  and on and on and on and on it goes.  

US Tax Code size

Just to give you an idea of the scale of the problem and to prove that I am not exaggerating in the slightest, the current US Tax Code is now well over 70,000 pages long. That’s about 185 times longer than it was in 1913, when the code was 400 pages and still far too long and complicated at that!

If you are an Apple or a Google or an Exxon and have a multi-billion dollar war chest you can buy the best professional experts and end up paying little or no tax at all. On the other hand if you are Joe Average you’ve got no chance!

irs-taxes-cartoon

Is there a better way?

I think so. For sure there isn’t a worse way!

It’s not a new idea, but as the system gets more and more complicated, it makes more and more sense to change it.

So why don’t we have a certain tax free allowance of $30,000 or $50,000 or whatever for annual exempt income, and pay 10 cents on every dollar we earn above that (or 10p a pound or 10 cents per euro) and leave it at that?

If that was the rule, and the only rule, everyone could do their tax returns easily, everything would be transparent, there wouldn’t be any complicated loopholes and no one would feel aggrieved because we are all being treated equally. And I think the governments would actually net a lot more revenue at a much reduced collection cost.

Too easy? Can’t be done like that?

That’s what the bureaucrats say, but as usual they are lying. They just don’t want their little empires reduced.

Of course it can be done the simple way. If fact although we don’t notice it, we see it done every day like that with sales tax. You buy something for a dollar and you pay your percentage of sales tax. (VAT they call it in Europe).

Easy. Simple. Everyone knows what they have to pay and why they have to pay it.

Sales-tax-calculator

It will never happen of course. Not while the bureaucrats remain in charge and the politicians are bought and paid for.

Not until the revolution – if there ever is another one.

American Revolution

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No Mo Town?

Posted: July 21, 2013 in Banks, Business, Crime, Current Events, Politics, Rants
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“Fight Against Stupidity And Bureaucracy”

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Here comes the Sunday Sermon folks!

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Before his first election victory the platform was one of “change” and “yes we can”, not very specific policies but the implication was that everything would get better under his administration, and people went for it.

Guess what?

“No he couldn’t” and “nothing changed”, not for the better anyhow.

Then last year during the re-election campaign he said, “We refuse to let Detroit go bankrupt”, and people went for it again.

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Guess what?

Detroit is bankrupt! Yes, last Thursday, Detroit became the largest U.S. city to declare bankruptcy, filing for Chapter 9 protection.

Are you seeing a trend here?

You should.

But it’s not all Obama’s fault. By no means. He’s just the latest in a long line of clueless politicians who made big promises and had no idea how to pay for them.

So how did it get this bad?

How did the city of Detroit that was once the powerhouse of America, and from whose industry came wealth creation that stimulated the entire economy, get to the stage of being bankrupt?

Sadly, what has happened to Detroit is the culmination of decades of political incompetence and graft and corruption.

For example, the most recent mayor, Kwame Kilpatrick, is currently facing charges of racketeering conspiracy, extortion, bribery, mail and wire fraud, filing false tax returns and income tax evasion, Quite a guy!

Kwame-Kilpatrick-Gangsta-HD-Wallpaper

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It is also the culmination of years of union’s self-serving greed that meant, for example, that every car Detroit manufactured had to be sold at a loss – if it were to sell any at all.

But the problem goes even deeper than that.

Detroit is just the latest example of political and economic stupidity that has been allowed to fester within many western nations. It is not just an American malaise. The very same thing has happened in other countries, like Britain.

And it has happened because American and British politicians got the idea that their countries were a bit better than everyone else’s.

That they could leave the blue collar stuff like steel-making, ship building, car assembly and everything else that created true wealth for a nation, to be done by other ‘inferior’ places such as Japan, Korea, Taiwan and more lately China.

They actively helped to destroy their own manufacturing base through lack of investment, over taxation, needless government interference and over-regulation, etc.

Worse than this, they thought they could replace real industries making real money, with ‘service’ industries.

They never figured out that the former is the foundation that means you can afford the luxury of the latter!

And guess what? They still haven’t!

So instead of making real money, greedy banksters were allowed to conjure imaginary money out of nowhere. Then they were allowed (and encouraged) to invest money that didn’t exist in products that weren’t real either! And of course they lost the money. 

And the governments were willing accomplices to this fraud. When they could’t balance their books they simply printed more money and used this imaginary wealth in their economic statistics reports to show everyone how well they were doing.

Detroit is just the latest and biggest example of what the policy of living well beyond your means….. means!

So is this the end for this once great city?

Absolutely not. In fact it might be the making of it. There are going to be tough times ahead, but getting rid of a crippling $20 billion debt, which their bankruptcy will do, at the very least makes a recovery a possibility.

The halcyon days may be gone and never to return because of the damage the politicians have done. But there will be better days ahead.

When you reach the bottom you may bounce around there for a while but eventually the only way is back up.

If the politicians let you, that is.

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The Uninformed Elect The Uninformed

Posted: July 14, 2013 in Current Events, Humour, Politics, Rants
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“Fight Against Stupidity And Bureaucracy”

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Another rant cunningly disguised as a Sunday Sermon.

Some people say we should be grateful we get told anything at all nowadays. We certainly can’t rely on our governments being honest with their people. In fact, as we have discovered recently, they would rather spy on us and gather secret dossiers on our activities. Much more reminiscent of Stalinist Russia than the Land Of The Free.

government hypocrisy and lies

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A big part of the problem is that in what passes for ‘democracy’ in Western nations, the people are told they have the power to elect whoever they think will be the best rulers, but they are not allowed the tools to do so effectively.

People are encouraged to vote party lines, rather than think about which candidate has the greatest ability.

ACME political poll - choose a party

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The Western media compounds the problem by drip feeding information to us on a “what THEY think WE need to know basis”. In doing so they censor and simplify, and more often than not sensationalize that information to the point of it being almost useless.

choice of candidates

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Naturally the politicians love it that way. An uninformed population makes uninformed decisions at election times, casting their votes for the candidate who has the nicest shirt or some other reason unrelated to political policy and philosophy.

That’s one of the reasons you got the government that is in power – so if you voted them in you did so without knowing all the facts – or maybe any of them! 

obama-agenda-in-one-cartoon1

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Not that there was much of an alternative. And it doesn’t matter what country you happen to live in either. Politicians worldwide, like bureaucrats, seem to be cut from the same cloth.

But that’s only part of the problem.

Bad enough that uninformed people make uninformed decisions and elect the wrong people. But worse is the fact that the people they elect are equally badly informed, their lack of knowledge becoming very clear quite quickly after they are elected.

Take America for example. Not the only culprit by any means, but the biggest one because of its size and the power and influence it wields throughout the world.

We all know that the economy is in a horrendous mess, with the administration seemingly clueless as to how to get us out of it. We’ve talked about that before and no doubt will do so again.

Obama economic advisors

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But if we were giving out grade marks for America, the ‘F’ minus with at least two exclamation marks would have to go to its understanding of foreign affairs. It’s not a case of ‘could do much better’ but more of a case of ‘couldn’t do much worse’.

Recent history is littered with foreign debacles. Vietnam, Somalia, Lebanon, Serbia, Iraq, Afghanistan, Libya, and now North Korea, Syria, and Iran are just some of the places where America, and sometimes its allies such as Britain, have tried to interfere only to make things far worse.

To the insult of causing the needless deaths and horrific injuries to the brave souls who put themselves in harm’s way because of these political idiots, they add the bigger insult of trying to excuse their foreign ‘crusades’ by lying to their own people.

Saddam Hussein used to be a ‘friend’, even being granted the Keys to the City of Detroit because of his charitable gifts. Then a few months later they made up blatant lies about his having developed weapons of mass destruction and he became the arch demon of the Middle East. Saddam was no saint that’s for sure, he was an evil man, but he had no weapons of mass destruction and he had nothing to do with Al Quaeda or the  9/11 attack, yet the US Administration went gung-ho to invade Iraq and take him out. Result – a bigger potential threat for the future.

cartoon-Iraq_10th_Anniversary

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All the years Col. Gadaffi was supporting terrorist attacks in Israel and Britain and Ireland he wasn’t touched, apart from the odd cruise missile sent his way more for publicity than any lasting affect it had on him or his country. Then when he became an ‘ally’ in the war against terror he was killed, leaving behind a country in a complete mess and opening the way for radical groups to take over. Result – a bigger potential threat for the future.

obamas-libya-mess

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You could say exactly the same thing for Egypt or Syria or almost anywhere else where noses have been stuck in where they aren’t wanted.

Far from winning friends and influencing people, it’s almost as if America’s leaders want to create enemies and store up trouble for the future. Either this is a deliberate covert policy or it is the result of chronic stupidity.

Whatever the reason, it is costing the country far too much, both in terms of lives and money. Our politicians need to be told to get a grip on things in their own country before interfering in foreign lands where they clearly do not understand the damaging consequences of their ill-advised actions.  

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“Fight Against Stupidity And Bureaucracy”

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It’s time for a Sunday Sermon!

cartoon-illustration-of-a-spy-wearing-a-hat-and-trenchcoat

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Whether we realize it or like it, the advent of the internet has changed all our lives. From power users like myself to just casual users, things are a lot different from how they used to be.

There are, of course, negatives like the increase of spam, fraud, pornography and so forth, but by and large the impact of the internet has been a positive one.

It has made finding information much quicker and easier.

It has given us better and cheaper communication possibilities such as Skype.

It has revolutionized shopping for millions of people.

And it has spawned new social interaction platforms such as Facebook, Twitter, Pinterest, Tumblr, and not forgetting blogging sites such as WordPress, allowing people to find groups and individuals all over the world with similar interests to their own.

But perhaps the greatest thing that the internet has achieved is to give freedom for ordinary people to say what they want to say and have that reach a much bigger audience than would have hitherto been possible without having to spend vast sums of money trying to do it.

Unfortunately, however, that freedom is the one thing that governments cannot tolerate. Hell bent on control, they see the freedom that the internet provides as a threat to their power. And slowly but relentlessly they are chipping away at that freedom.

In China there is no pretense or deceit. The government there controls the internet and that’s just how it is.

However in the West, as they always do, governments create smokescreens to hide their real objectives. They read our private emails and listen to our private phone calls in secret, only reluctantly admitting to it when they are exposed by a whistleblower such as Edward Snowden, last seen leaving Hong Kong and heading for Moscow.

edward-snowden

And even when they are exposed they can’t tell the truth about what they are doing and why they are doing it. Invariably the excuse trotted out is “security issues”, in other words, they are doing what we don’t want them to do and invading our privacy, for our own good! 

If governments expect the people to have confidence in them, then they in turn should show confidence in the people. That means doing their job properly and targeting people and groups that are a possible threat without treating everyone as a potential terrorist.

And it means being honest with their people. 

Will that happen?

Not a chance!

As I said earlier the game isn’t about what is good for the people, the game is about control of the people. And a big part of that control is ensuring that the herd shall not be heard – if they have anything important to say that the government doesn’t want us to know!

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“Fight Against Stupidity And Bureaucracy”

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Anyone who has been following this story that I posted about a few days ago, (here if you missed it), will know that the European Union bureaucrats made an attempt to steal the savings of the Cypriot people right out of their bank accounts.

With at least one eye on their chances of being re-elected, the Cypriot parliament rejected the proposal out of hand. The proper thing to do no doubt, but there is also no doubt that this will not be the end of it. Indeed the fallout continues.

Western governments are desperate because of the financial mess that they and their bankster accomplices have created. And desperate governments are known to take desperate measures to try to patch things up.

Look out for more attempts by these governments to steal your money, whether it be in the form of savings in the bank, government bonds, stocks or in pension plans. Nothing is safe from the clutches of these thieves.

The goings on in Cyprus has already proven their intent and alarm bells have begun to sound among those who are awake and paying attention. The bureaucrats’ attempted money grab has already sparked off suspicion and panic throughout Europe and elsewhere as to the amount of trust people can have in their governments.

Even among the financially stronger nations the trend is clear. In Germany, for example, a recent opinion poll showed that the majority of Germans do not trust their leader, Merkel’s, pronouncements that their money is safe in a bank.

Throughout Europe those who can are moving their money to offshore locations away from the thieving hands of their own governments. Big corporations, including US corporations, are doing the same. It has already happened in Ireland and Spain and France and, to a lesser extent, in the UK too.

What a sad commentary on how these stupid politicians and bureaucrats have mismanaged our affairs.

Will it hit America as well?

That depends just how stupid the political administration in Washington really is – which is perhaps a kind way of saying, please err on the side of caution if you are an American citizen.

The $ as a currency will probably be okay for a while, despite the humongous debt that Obama is piling up, but eventually it will become impossible to print their way out of trouble.

All those highly paid morons and herd followers called ‘money managers’ who work for the various funds that you entrust your savings and pensions to, and who do little more than buy up T-Bills with it, may find that their strategy is going to backfire. Like the banksters, however, they will still charge you a fee for looking after your money whether they invest it wisely or lose it all.

But whilst the bureaucrats will never be able to figure out how to run an economy – their, “take more and more taxes out of less and less income” strategy will never add up – eventually the penny will drop with the good citizens and they will waken up and realize they have been completely shafted by incompetent politicians and greedy banksters.

Then the brown stuff will hit the fan – big time – and people will get real mad. And then the powers that be will have no choice but to turn on their own citizens if they are to cling to power. Preparations for this started under Bush and now Obama has added even more legislation to make this possible.  

It is a rather bleak scenario, particularly for those who choose to ignore what is happening around them. But whether it happens in one year or another five, if the politicians and bureaucrats do not wise up – and their is little sign of them doing that especially when they have yet to realize how incompetent they are – it will happen.

So start to think seriously about your own circumstances and what you can do to protect what you have from thieving governments. Or just settle down and get another 40 winks assured in the knowledge that those in Washington, Brussels, London and Berlin know what they’re doing.

Cyprus ATM

Cyprus ATM

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“Fight Against Stupidity And Bureaucracy”

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origin of banksters

Time for another rant about the slime of creation, also known as the banksters.

This blog is about highlighting and fighting against stupidity and bureaucracy and there is no better example of this than the banking industry.

Their stupidity is only matched by their arrogance and their greed.

More than five years on from plunging the world into a financial catastrophe, and all of us into debt that will take generations to sort out, they are still at it!

And the governments are still faffing about, afraid to take on those who bribe them with “contributions” to their election campaigns.

banksters table

For example, the European parliament only reached a “tentative deal” last Wednesday evening to limit bankers’ bonuses at twice the value of their fixed pay. They call it “imposing the toughest limits on pay since the financial crisis”. Gimme strength!!! Of course, the deal, still has to be endorsed formally by governments and lawmakers (i.e., the bureaucrats), and is the result of 18 months of farting around (they call it negotiating).

It’s a start, but a poor and a slow one.

It shows how long it takes for a no-brainer to happen in heads that have no brains!

In timely manner, latest results last week came from Europe, namely the grandly named basket-case Royal Bank of Scotland Group, Lloyds Group, and Spain’s lesser sounding Bankia.

Already more than 80% owned by the British Government (i.e., taxpayers) who stupidly bailed out these idiots to the tune of almost $70 billion, RBoS have announced further losses of around $9 billion!

To make matters worse, $1.6 billion of that was to compensate clients wrongly sold insurance and interest-rate hedging products – which is a nice way of saying they have been caught fleecing their customers and now have to pay back money they cheated their clients out of in the first place.

They called it a “chastening year”.  

Meatime Lloyds chalked up further losses to the tune of more than $2 billion!

And the banksters aren’t any smarter in Spain either. Bankia also this week reported a net loss of €19.06 billion ($25.04 billion) for 2012, by far the largest in Spanish corporate history.

And you know what? Let’s add insult to injury.

These dumb-asses are looking for bonuses for their efforts.

Can you believe it?

banksters bonuses

If someone starts a business and it fails, no one gives them a bonus – they lose their business (usually because the banksters force them to close down).

Just how on earth have we allowed the banking industry to create a culture of stupidity to take hold and remain in place after such clear evidence that it is not working. It is completely absurd.

Hit your sales targets, make money for the company and yes sir you can have a bonus and well deserved. Cost the company $ billions and drive it to bankruptcy because of your incompetence and the only bonus you should get is early parole for good behavior.

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That’s Europe taken care of, can’t go without a word about the American banksters too.

Latest news is that they “have discovered” that they wrongfully foreclosed on more than 700 members of the military during the housing crisis and seized homes from about two dozen other borrowers who were current on their mortgage payments,

The banks, namely Bank of America, Citigroup, JPMorgan Chase and Wells Fargo, only found the foreclosures after regulators ordered them to examine mortgages as part of a multibillion-dollar federal settlement. Each bank “discovered” around 200 members of the military whose homes were wrongly foreclosed in 2009 and 2010.

So while military personnel are putting themselves in harm’s way to protect and defend the country, the slime in the banks are busy trying to illegally foreclose on their homes.

Incredible!

Not only do these foreclosures violate the Servicemembers Civil Relief Act, a federal law requiring banks to obtain court orders before foreclosing on active-duty members, but they violate every common law of decency.

The sooner governments come to their senses and put these banksters out of business the better and cleaner the country will be.

banksters wrecked the economy

***end rant***

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