They Got Away With It AGAIN!

“Fight Against Stupidity And Bureaucracy”

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Last week several of the ‘BIG’ banks – you remember, the ones that are too big to let go bust – were fined in the region of $5.7 billion for illegal manipulation of the currency markets.

The usual suspects were included, J P Morgan, Citibank, Barclays  and RBS all pleading guilty – but only after they were sure what the medicine they would be getting would be.

It’s a huge amount of money, there’s no denying that. And losing it will make the banksters hurt a bit. But only a bit.

And that’s the problem.

Yet again the United States government has failed to bring these criminals to justice after more of their deliberate fraud and theft.

In other words, they let them get away with it AGAIN!

Now, if I walk into a branch of, for example, Citibank and try to steal the money that their customers have deposited with them for safe-keeping, I would be videoed, photographed, and if I was lucky enough to get out of the premises, pursued by the police and even the FBI for as long as it took to capture me.

And I couldn’t have any complaints because that’s the way it should be. Thieves should be sought out, captured and after due process thrown into jail.

However, if I am a bankster, have good government contacts, and ply money and favors to those in government, then I am treated very differently.

I can embark on insider trading (which is essentially what the banksters were doing when they were illegally manipulating the currency markets), I can sell loans to people that clearly can’t afford them, then take their houses away or sell on their debt wrapped up in a ‘AAA’ bundle to my richer customers, and after all that steal even more of the money my customers have entrusted to me by awarding myself and my collaborators big bonuses that none of us have earned or are entitled to.

In this scenario am I pursued by the police and FBI?

Nope.

Am I thrown in jail to be the bitch of Skull-cracker Jones or Scarface Smith?

Nope.

Will I have to personally pay back the money I stole?

Nope, again.

So what will happen to me if I am a bankster?

At worst I will get a slap on the wrist and told not to do it again. Even though recent history has proved that this is no deterrent and I will do it again at the first opportunity I get.

And, of course, I don’t have to personally pay the government’s fine no matter how big it may be. Instead my company has to cough up on my behalf.

Not that the company is much bothered either because when it runs out of money it goes back to the government which hands it back at least the value of the fine and usually much, much more.

Think this system is fair?

Neither do I.

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Okay America, How long Are You Going To Take This BS?

“Fight Against Stupidity And Bureaucracy”

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A few days ago I had a bit of a rant against the banksters. You’d have thought that would have done me for a while but there’s more, prompted by yet more procrastination and what can only be called undiluted BS from high government officials.

This time the main culprit is Attorney General Eric Holder, who Wednesday last testified before the Senate Judiciary Committee.

He told them that he is concerned that some institutions have become so massive and influential that bringing criminal charges against them could imperil the financial system and the broader economy.

Where have we heard that one before?

It’s just his version of the “too big to jail” bollocks that we have been hearing from these gutless government wonders for the past five years.

And unfortunately he isn’t alone in this cowardice. A growing number of lawmakers have effectively suggested the same thing.

Home of the brave? Not as far as these bureaucrats are concerned. They would much rather throw the weight of their bureaucracy against small businesses struggling to stay afloat in the economic storms created by the banksters than tackle the real problem, i.e. the banksters themselves.

On the brighter side, if there is one, Holder’s comments and those of his conspirators should bolster an increasingly vocal group of politicians who argue the nation’s biggest banks have become too large and need to be curbed.

Among this group are Sens. Chuck Grassley (R-Iowa) and Sherrod Brown (D-Ohio) who pressed Holder on the issue in a letter sent in February, airing their disappointment that no major criminal charges had been filed against banks or their employees in the wake of the financial crisis.

Also Sen. Elizabeth Warren (D-Mass.) blasted financial regulators during a separate hearing for failing to bring any major financial institutions to trial since the meltdown.

Of course when questioned by Sen. Grassley, Attorney General Holder tried to slither out of answering the issue by saying that, “The concern that you have raised is one that I, frankly, share.”

However, he then quickly added that ultimately the best deterrent would be if they could bring charges against individuals instead of companies, BUT that all of the bad behavior on Wall Street leading up to the crisis may not necessarily have been criminal and that his criminal team has been “as aggressive as they could be.”

In other words, too big to jail yet again. And the government, still afraid to act, continues to pretend to do something while actually doing nothing.

Pathetic!

So over to you America.

You elect these cronies and cowards, or the people who appoint them.

When are you going to demand they act in YOUR best interests and not in the best interests of the banksters?

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