“Fight Against Stupidity And Bureaucracy”
“Treason doth never prosper: what’s the reason?
Why if it prosper, none dare call it treason.”
Ovid / Sir John Harrington
When I first though about this subject for a post on my blog, I had America mainly in my mind, I suppose because that is where the rot started to show. But when I though about it a little more I quickly realized that the same charge could equally be brought against the banksters in the United Kingdom, Ireland, Spain, France and in fact the entire European Union.
They took money that was not theirs, that was placed in trust with them for safe and responsible stewardship, and they gambled it and lost it.
Then they used their influence on stupid politicians to steal the honest taxpayer’s money to fill up their coffers again. They were apparently too big to fail – what an utter load of nonsense!
They promised when they were stealing OUR money that they would use it to make loans to businesses and thereby stimulate and reactivate the economy that they themselves had brought to a standstill when they lost OUR original cash in stupid and foolhardy deals that no one with any brains or any sense of responsibility to their clients would have dared to go near.
They took OUR money for the second time and kept it for themselves. A lot of it went on bonuses, sometimes in the tens of millions of dollars. A reward to themselves for staggering incompetence.
In any other industry, if you were so bad at your job as to bankrupt your company, you would not only be fired but stand a good chance of being charged with fraud or negligence or something. But if you are a bankster and have successfully sold the lie that you are “too big to fail”, then you get away with it. It doesn’t hurt if you have a few politicians in your pocket either!
And, apart from paying yourself huge bonuses for losing OUR money the first time, what do you do with the proceeds of stealing OUR money the second time? Well, of course, first you give yourself another big pay rise, and then you gamble again and lose even more of OUR money.
Remember the J P Morgan $2billion loss – er, make that a $9billion loss would you. Just as Hillary Clinton “mis-spoke” when she lied to the public, J P Morgan “mis-counted” the first time they declared the extent of their incompetence! We probably have not heard the truth yet.
And President Obama has the gall to tell the world that these morons and liars are “the best we have”! Seriously? Do you really expect the people to believe that? I don’t think so. I certainly hope not.
But the J P Morgan $2billion loss turning out to be a $9billion loss is just the tip of a colossal iceberg. This one is a hell of a lot bigger than the one that sank the Titanic – it’s threatening to sink entire countries.
The public and even the various governments have not been made aware of the full extent of the catastrophic losses these idiots (remember the best we have) have made. All the big banks, whether in the US, or Britain, or Spain or France or wherever are furiously cooking their books and have been for the last five years. Their companies are insolvent, they are bankrupt, but they are hiding the truth from everyone.
This is fraud.
In fact, because of the power that they have, and the impact their stupidity inevitably has on the entire national economy, what they have done and are continuing to do is commit treason.
In a country run by Joe Stalin or Saddam Hussein (perhaps proving that not everyone is all bad all of the time) these treacherous banksters would have been put up against a wall and shot. That may be a bit extreme for us, but at the very least they should lose their jobs, have their stashes of personal wealth confiscated, and be thrown into jail. If it was good enough for a thief like ponzi king, Madoff, it should be good enough for thieves like them.
End rant, cue a few videos on the subject.
A view from Britain
A view from Ireland
The best government money can buy
Understanding The Financial Crisis–For Kids and Grownups