Can Heads That Have No Brains Handle A No-Brainer?

“Fight Against Stupidity And Bureaucracy”

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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.

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?

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.

***end rant***

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Gosh, It’s A Two Post Sunday!

“Fight Against Stupidity And Bureaucracy”

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I haven’t had a rant for a while, so one is long overdue. Here it is.

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I’m sure hardly anybody noticed, but last week the bureaucrats in Washington effectively shut down the web site Intrade for US citizens. Intrade was the popular web site that any adult, including Americans, could use to wager on the future price of certain commodities, like gold or oil.

Effectively the bureaucrats have now made it illegal to solicit Americans to buy and sell commodity options contracts unless they are listed on an exchange registered with them or on one designated as legally exempt by them, and they have taken upon themselves the power to regulate nearly any commodity-related activity unless Congress provides a specific exemption.

Of course the politically well connected investment banks and hedge funds into which the great and the wealthy put their money can carry on as before speculating on the price of everything from pork bellies to platinum and manipulating gold, currency, oil and other markets. The recent MF Global scandal really puts that beyond reasonable doubt.

Intrade is just the latest move by the bureaucrats and the thought police to restrict the freedom of American citizens. Not so long ago it was the online gambling websites, then New Zealand based Megaupload was targeted, then banking in any offshore jurisdiction, now the Ireland based Intrade, and tomorrow, well, who knows.

Maybe the ever sensitive morons in the thought police will try to stop you reading blogs critical of their asinine bureaucracy? Oh, oh, gulp!

The way they are acting is nothing short of a complete perversion of the concept of a government with limited powers. But are the liberals, who should be in the forefront of upholding such principles, falling over themselves to defend the ordinary people?

Not likely.

If and when this type of interference happens in China or North Korea or somewhere similar, they are rushing to get on to their high horses to condemn and ridicule.

But back in Washington they are busy trying to create an inefficient and bureaucracy-ridden nanny state that they know will necessitate clamping down on individual choice and freedom, if it is to even stand a chance of making it look as if it is working.

To add insult to injury the bureaucrats make their usual claim that they are taking these steps for “your own protection”.

Why is it that the steps the bureaucrats take in the ”public interest” never seem to turn out to be in my interest or in the interest of anyone I know?

By the way, in case you are wondering, I have never used Intrade, it’s not my kind of thing and I don’t know enough about that field to speculate with any consistent degree of success.

But I would appreciate the freedom to make up my own mind on the subject, instead of having the faceless and less intelligent bureaucratic thought police dictate the decision for me.

We all know how successful the Volstead Act was at the beginning of the last century, but the bureaucrats learn nothing from their mistakes. And they never will, because their desire is not to do what is right or just or even sensible, their desire is to create an ever growing bureaucracy which they control.

Home of the brave? No doubt about that when you see the young people who are willingly putting themselves in harm’s way to help to defend the nation.

But land of the free? No siree, not no mo!

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Memorial Monday

Well, as I am sure you (particularly the folks in the good old US of A) are well aware, today is the last Monday in May, otherwise known as Memorial Day and the official start of summer. I hope you have been and are enjoying a long leisurely holiday weekend.

There are lots of blogs doing pieces on Memorial Day, so I’ll try to make this one slightly different.

Memorial Day was originally known as Decoration Day and was established after the American Civil War to commemorate the fallen Union soldiers.

Slight rant for a moment. I get irritated when I hear idiots talking about the US Civil War. The Civil War in America was fought between Union forces (made up of Americans) and Confederate forces (made up of Americans). This isn’t going to turn into a history lesson as to the why’s and the wherefore’s, but the point is that at the time of the civil war the States of America were anything but “united”. Use the term “American” please. End rant.

The chances are that you may already have seen Ken Burn’s fantastic documentary series called Civil War. When it first aired on PBS something like 40 million Americans tuned in and it has been distributed and shown on the BBC in the UK and in many other parts of the world since. If you haven’t watched it yet, I highly recommend that you do so. It is a gem of historical information, photography, narration, music – the whole thing is just wonderful.

Ken Burns Fabulous Civil War Series

 

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I have always been fascinated by the Civil War. I have visited numerous battle sites and know some people who have little museums and take part in re-enactments and so forth. Because it was fought in the mid 1800s and featured such well known historical figures as Abraham Lincoln and Robert E Lee the impression I had (for no logical reason, as sometimes happens) was that it was an event that happened a very long time ago. Then I discovered that the last Union veteran of the Civil War, Albert Woolson only died in 1956, not quite within my lifetime, but close enough to make me realize that this was not so long ago at all.

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So could it happen again?

In America I very much doubt it.

Civil Wars are part of the teething pains that most countries go through. They have happened in England, France, Spain, Portugal, China, Russia, Cuba, Korea, Vietnam, Mexico, Nicaragua, Honduras, El Salvador, and on and on; and they seem to be a constant phenomenon in one part of Africa or another.

There will probably be periods of increasing civil unrest in the US as the government ham fistedly tries to get itself out of the mess that it has caused by trying to steal more money from the ordinary people, but that’s a different thing. So I wouldn’t worry about it too much yet.

As for Memorial Day nowadays, it encompasses all Wars that American forces have been involved in, and it is a convenient marker to remind us of those who have willingly put their lives in harm’s way to protect us. The political decisions that lead to wars are not the fault of those sent to fight.

This weekend I have been remembering some of my friends who are no longer here. They are in a better place for sure, but they got there far, far too soon.

Soldier Reporting For Final Duty