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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Come On Obama, Stick Them In The Slamma!

“Fight Against Stupidity And Bureaucracy”

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Around this time last month I wrote a post about the explosion of sub-prime credit for people seeking automobile loans they couldn’t afford. Here’s a link if you missed it – click here. 

They say that if you don’t learn from what happened in the past you are doomed to repeat it. And it is clear the banksters have learned nothing, mainly because the government was not man enough to teach them a lesson when they almost brought the country to its knees. Their greed was excused and rewarded, not punished in any meaningful and lasting way.

So now we have the auto loans credit explosion, which is another mini sub-prime disaster in the making. And again it is being egged on by the stupidity and greed of Wall Street who just can’t pass on the chance to reap big profits from those people silly enough to take their high interest loans.

This time, however, it turns out some of the people in positions of power are beginning to recognize that this is becoming a big problem.

The regulators and prosecutors are starting to worry about the level of lending abuses. Not only that but they are also recognizing the similarities with the home loans fiasco that eventually resulted in the financial crisis.

The Consumer Financial Protection Bureau has recently fined subprime auto lender First Investors Financial Services Group Inc. $2.75 million for knowingly providing inaccurate information to credit reporting agencies for at least three years. It was a “computer error” don’t you know, and, of course, they paid the fine but without admitting any liability – perish the thought!

It should come as no surprise that First Investors Financial Services Group is owned by a prominent New York private equity firm.

And like the mortgage sub-prime fraud, the banksters and other money men are not only screwing the people who take out the loans, but once again they are re-packaging them up as “good investments” for their richer clients too.

A United States attorney in Manhattan, has already begun an investigation into whether lenders have sold questionable auto-loan investments to investors, and has sent subpoenas to General Motors Financial and Santander Consumer USA, to try to find out whether the lenders fully disclosed to investors the creditworthiness of borrowers whose loans made up the complicated securities.

Last time they got away with it. Will this time be any different? You have a lot more faith in the system than me if you think it will. All that is happening so far is tokenism. They need a lot more than a slap on the wrist.

In China or Vietnam and some other locations banksters committing fraud are stood up against a wall a shot. That’s maybe a little harsh, but at the very least some serious jail time is in order.

The fact is the banksters are doing it again because they think that they can get away with it again. And if they get away with it this time, then they’ll do it yet again in the future. All the time racking up fortunes for themselves and leaving the other poor sods, who didn’t know any better than to take out their loans or buy their toxic investments, a lot poorer.

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Pierre-Joseph Proudhon – What It Means To Be Governed.

“Fight Against Stupidity And Bureaucracy”

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I had intended to indulge myself today with a bit of a Sunday Sermon about the increasing intrusiveness of government.

But then I found a quote from a Frenchman named Pierre-Joseph Proudhon and I decided to let him use my pulpit on this occasion.

He didn’t know about the “En ess a” snoopers who have been listening to our phone calls, reading our emails, and spying on the leaders of nations that are supposed to be friends and allies of the United States, because he was speaking about what it means to be governed more than two hundred years ago.

Nevertheless, his words ring eerily true.

Nothing, it seems, has changed.

In fact today’s technology has made things far worse.

This is what he had to say all those years ago….

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To be governed is to be

watched over,

inspected,

spied on,

directed,

legislated at,

regulated,

docketed,

indoctrinated,

preached at,

controlled,

assessed,

weighed,

censored,

(and) ordered about,

by men who have neither the right, nor the knowledge, nor the virtue.

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To be governed is to be at every operation, at every transaction,

noted,

registered,

enrolled,

taxed,

stamped,

measured,

numbered,

assessed,

licensed,

authorized,

admonished,

forbidden,

reformed,

corrected,

(and) punished.

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It is, under the pretext of public utility, and in the name of the general interest, to be

placed under contribution,

trained,

ransomed,

exploited,

monopolized,

extorted,

squeezed,

mystified,

(and) robbed;

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Then, at the slightest resistance, the first word of complaint, to be

repressed,

fined,

despised,

harassed,

tracked,

abused,

clubbed,

disarmed,

choked,

imprisoned,

judged,

condemned,

shot,

deported,

sacrificed,

sold,

betrayed;

and, to crown all,

mocked,

ridiculed,

outraged,

(and) dishonoured.

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That is government; that is its justice; that is its morality.

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The man knew what he was talking about.

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Pierre-Joseph Proudhon, (1809 – 1865) was a French politician, the founder of Mutualist philosophy, an economist and a libertarian socialist. He was the first person to declare himself an anarchist and is among its most influential theorists. He is considered by many to be the “father of anarchism”. He became a member of the French Parliament after the revolution of 1848, whereupon and thereafter he referred to himself as a federalist.

(Bio source http://en.wikipedia.org/wiki/Pierre-Joseph_Proudhon )

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Stupid Politicians And Bureaucrats Make What? Yes, That’s Right – Stupid Laws, Part Three

“Fight Against Stupidity And Bureaucracy”

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Today we have the third of my three-part series highlighting some of the stupid laws that have been made by the stupid politicians and bureaucrats that we have allowed into positions of power.

So here are some more of the lesser known laws that govern the good citizens in the United States (listed by state alphabetically, part 1 covered A to L, part 2 covered the M’s and N’s, this week it’s O to W.).

Enjoy (or cringe, perhaps).

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OHIO

• Women are prohibited from wearing patent leather shoes in public. (I hope that’s no reflection on them.)
• It is illegal to fish for whales on Sunday. (And immoral any other day.)
• It is illegal to get a fish drunk. (Would Sir like some water with that?)
• The Ohio driver’s education manual states that you must honk the horn whenever you pass another car. (But I want to ‘beep’.)
• If one loses their pet tiger, they must notify the authorities within one hour. (That’s greeeaaaatttttt!)

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OKLAHOMA

• It is illegal for the owner of a bar to allow anyone inside to pretend to have sex with a buffalo. (And the real thing is okay???)
• Dogs must have a permit signed by the mayor in order to congregate in groups of three or more on private property.
• It is illegal to have the hind legs of farm animals in your boots. (That reminds me of a joke about…… no, better not.)
• People who make “ugly faces” at dogs may be fined and/or jailed. (What happens if you just have a ugly face to begin with?)
• Cars must be tethered outside of public buildings.
• Oral sex is a misdemeanor and is punishable by one year in jail and a $2,500 fine. (Well, blow me, that’s expensive!)
• It is illegal to conceal the birth of a child that would be a bastard. (But you never know how they are going to turn out until they get a bit older???)

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OREGON

• Babies may not be carried on the running boards of a car. (That’s okay, you need both hands to hang on to the car anyhow.)
• It is illegal to whisper “dirty” things in your lover’s ear during sex. (So where do you whisper them?)
• Ice cream may not be eaten on Sundays. (Ridiculous!)
• It is illegal to buy or sell marijuana, but it is legal to smoke it on your own property. (To pot with that!!)
• You cannot eat a doughnut and walk backwards on a city street. (Well, maybe YOU can’t, but….)
• Juggling is strictly prohibited without a license. (And quite difficult even with one.)
• It is a crime to publicly scrape clean a skeleton in a cemetery. (And let’s make no bones about it.)

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PENNSYLVANIA

• It is illegal to sleep on top of a refrigerator outdoors. (This is another one of those ‘how many people were doing this that a law was needed against it’ kind of things.)
• Any motorist driving along a country road at night must stop every mile and send up a rocket signal, wait 10 minutes for the road to be cleared of livestock, and continue.
• A special cleaning ordinance bans housewives from hiding dirt and dust under a rug in a dwelling. (Ya hear that one ladies?)
• In Harrisburg it is against the law to wear lead nipple shields. (I bet Superman goes there – a lot!)
• You may not sing in the bathtub.
• You may not catch a fish by any body part except the mouth. (I don’t think I could catch a fish with my mouth.)

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RHODE ISLAND

• No one may bite off another’s leg. (Ears, noses, arms, etc., are okay?)
• Any marriage where either of the parties is an idiot or lunatic is null and void. (I’m saying nothing.)
• One must make a loud noise before passing a car on the left. (Can do!)
• The penalty for biting off another’s limb is twenty years in jail, but only if it was intentional. (Whoops, sorry, there’s your leg back. I didn’t mean it.)
• It is illegal to wear transparent clothing. (Clearly!)
• You may not sell toothpaste and a toothbrush to the same customer on a Sunday.

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SOUTH CAROLINA

• It is considered an offense to get a tattoo. (I just consider it stupid.)
• Horses may not be kept in bathtubs. (I guess there’s no room, what with all the donkeys in there.)
• It is perfectly legal to beat your wife on the court house steps on Sundays.
• It is a capital offense to inadvertently kill someone while attempting suicide. (You mean if you are attempting suicide or you can’t kill the person who is attempting suicide?)

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SOUTH DAKOTA

• It is illegal to lie down and fall asleep in a cheese factory. (But is there a law about cutting the cheese?)
• If three or more Indians are walking down the street together, they can be considered a war party and fired upon.
• In Huron it is an offence to cause static. (Shocking law that one.)
• Otherwise illegal explosives can be set off in sunflower fields.

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TENNESSEE

• It is a crime to share your Netflix password in Tennessee. (Is it okay in English?)
• It is illegal to use a lasso to catch a fish. (And very difficult.)
• “Crimes against nature” are prohibited.
• Skunks may not be carried into the state. (Yeah, let the little stinkers walk.)

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TEXAS

• It is illegal to take more than three sips of beer at a time while standing. (What sort of a guy ‘sips’ beer? Come on!)
• Up to a felony charge can be levied for promoting the use of, or owning more than six dildos.
• It is illegal to milk another person’s cow. (Is that a double entendre?)
• The entire Encyclopedia Britannica is banned in Texas because it contains a formula for making beer at home.
• In Dallas it is illegal to possess realistic dildos.

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UTAH

• It is illegal not to drink milk.
• It is illegal to detonate any nuclear weapon.
• Birds have the right of way on all highways.
• In Salt Lake County an official milkman is limited to casual contact with his customers. (What’s all this about milk in Utah?)
• A husband is responsible for every criminal act committed by his wife while she is in his presence.
• No one may have sex in the back of an ambulance if it is responding to an emergency call. (So turn the sirens off??)
• It is illegal to cause a catastrophe. (So are these laws not breaking this law?)

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VERMONT

• Women must obtain written permission from their husbands to wear false teeth. (By gum!)
• At one time it was illegal to tie a giraffe to a telephone pole.
• All residents shall bathe every Saturday night.

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VIRGINIA

• Not only is it illegal to have sex with the lights on, one may not have sex in any position other than missionary. (Just how did the people who thought this one up think that they were going to enforce it?)
• It is illegal to tickle women. (You just said that, see above!)
• A man may face 60 days in jail for patting a woman’s derriere. (How long for a good slap?)
• Women must wear a corsette after sundown and be in the company of male chaperone.

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WASHINGTON

• The harassing of Bigfoot, Sasquatch or other undiscovered subspecies is a felony punishable by a fine and/or imprisonment. (Do tell how exactly do you harass an ‘undiscovered’ species? Wouldn’t you have to discover it first, and once discovered it is no longer ‘undiscovered’ and therefore can be harassed?)
• All lollipops are banned. (This law really sucks.)
• People may not buy a mattress on Sunday.
• In Washington it is a misdemeanor to sell poison without a license.
• In Seattle possessing an electro-magnetic wave generator is a crime.
• It is illegal to pretend that one’s parents are rich. (Can you pretend that they are poor?)
• You may not carry a concealed weapon that is over six feet in length. (And where would you be able to conceal it anyway?)

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WEST VIRGINIA

• It is legal for a male to have sex with an animal as long as it does not exceed 40 lbs. (And I would imagine dangerous if it does!)
• It is illegal to snooze on a train.
• One may not walk a lion, tiger or leopard, even on a leash.
• Firemen may not whistle or flirt at any woman passing a firehouse.

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WISCONSIN

• Condoms were considered an obscene article and had to be hidden behind the pharmacist’s counter.
• At one time, margarine was illegal.
• It is illegal to kiss on a train.
• It is illegal to cut a woman’s hair. (People from Brazil please take special note.)
• The government may not prohibit manual flushed urinals. (That’s handy.)
• Cheddar cheese must be “highly pleasing”.
• Followers of the Ho-Chunk religion may hunt deer without a license.
• It is illegal to produce baby Swiss cheese without well-developed eyes. (Otherwise how could you see what you were doing… Duh!!)

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WYOMING

• If one is drunk in a mine, he or she could land in jail for up to a year. (Prospects aren’t good then?)
• It is illegal for women to stand within five feet of a bar while drinking. (Iron or wooden?)
• You may not take a picture of a rabbit from January to April without an official permit. (That really bugs me.)
• It is illegal to charge for the use of a toilet. (No sh**!)

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When Your Bank Gives You A Load Of Sh1t, Just Give It Right Back To Them!

“Fight Against Stupidity And Bureaucracy”

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It isn’t often that there is the opportunity to report a victory of the common man over the banksters. But a few years ago one did happen when a 71-year-old British farmer, from Northumberland, won a £300,000 settlement from his bank after what he described as years of frustration and pain.

Although the bank settled, shortly before the case went to the British High Court, the farmer, Mr David Cannon, said he still felt as though he had not got justice. “They could give me every penny on the planet, but it still couldn’t put it right. It’s taken 10 years away from me. To them it’s monopoly money, but to me it’s all I’ll get.”

His problem was with the National Westminster Bank plc, and began in May 1990. It centered on £70,000 which Mr Cannon claimed went missing somewhere between his own account, his son’s personal and business accounts and an account belonging to his son’s business partner.

He is convinced the money had disappeared gradually during “dozens and dozens” of transfers between the accounts. Naturally the NatWest Bank always strongly denied that the money went astray.

The legal proceedings started way back in 1991, and the Cannons were forced to sell their 300-strong herd of prize-winning Ayrshire cows to fund their case. Mr Cannon said: “It was heart-breaking having to sell the herd, and soon I, and especially my wife, had problems with our health.”

After four-and-a-half years of deadlock with the legal proceedings Mr Cannon decided enough was enough. He borrowed a muck-spreader and chugged into Newcastle-upon-Tyne on his tractor.

In a little over two minutes, he blasted four tons of slurry over NatWest’s Mosley Street branch.

Phew!!!

Stonemasons spent two weeks clearing up and Mr Cannon was fined £2,000. But undeterred, a year later, he subjected the bank’s Ponteland branch to the same exterior decoration.

He really was giving them shit!

Still the dispute dragged on, until December 1998, by which time Mr Cannon had lost patience once again. This time he blocked the door of the Grey Street branch of the bank with his tractor.

Ten months later he returned to the Ponteland branch, baffling staff by measuring the entrance. The next day he forced the doors open with his tractor and barricaded himself inside, nailing fence rails across the doorway. This bank job cost him another £600.

His final fling occurred the following June 12, when he dumped a five-ton load of shit on the doorstep of the Ponteland branch and returned to his farm – pursued by police. Amazingly, he managed to reload and chugged back to the bank, where he made a second five-ton deposit. A low-speed chase ensued, the police puncturing the 10mph tractor’s tyres with a ‘stinger’.

Mr Cannon was charged with criminal damage, dangerous driving, driving without an excise licence and failing to stop for a police officer. He was given a 60-day suspended sentence and ordered to pay £845.60 compensation plus £250 costs.

Mr Cannon, a former bare-knuckle boxer, said: “But fortunately it was in my nature to fight them. Breeding cattle was my life.”

The bank, NatWest issued a token 63-word statement which denied any admission of liability. They refused to add to it when questioned by reporters.

Simon Pitkeathley of the British Bankers’ Association, says angry customers would do better to follow the conventional complaints procedure or move your account elsewhere, said: “Mr Cannon’s behaviour obviously can’t be condoned.”

But I liked it. Good one Mr C.

The big question is, by awarding £300,000 to a man who has taken direct action, has the bank set a dangerous precedent for those distressed customers contemplating direct action? Wouldn’t it be great if they were in for loads more shi……I mean, bother?

 

Farmer David Cannon giving his bank some shit