Playing With Statistics

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

“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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Are The Banksters Guilty Of Treason Against The Nation?

“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 lied.

 

The banksters lied to us
The banksters lied to us

 

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.

Banksters - the best we have???
Banksters – the best we have???

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.

 

Banksters Motto: Greed Before Country
Banksters Motto: Greed Before Country

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.

Enjoy!

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A view from Britain

 

A view from Ireland

 

 The best government money can buy

 

Understanding The Financial Crisis–For Kids and Grownups