Tag: Too Big To Control

ROADMAP FOR CREATING A BANK RUN

It’s these banks that benefit from regional banks going bust. JP Morgan is getting handed all the assets of First Republic, while the taxpayers eat the losses. Those top 4 banks were insolvent in March 2009 and should have been liquidated. Instead, the FASB was forced by Bernanke and Geithner to change the accounting rules and let these criminal banks decide their worthless mortgage securities were really worth 100 cents on the dollar. Your $700 billion TARP funds went directly into the pockets of Dimon and the rest of these criminal bankers. Anyone doing business with these banks is contributing to the downfall of America and slitting their own throats.

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THE ROAD TO PERDITION IS PAVED WITH EVIL INTENTIONS – A FINAL RECKONING

In Part 1 of this article I pointed out how we have allowed ourselves to be cowed by authoritarian “experts” who have proven to be nothing but incompetent and wrong every step of the way, while the financiers have used the crisis once again to pillage the citizens as they did in 2008/2009.

The absurdity of shutting down this country based on academic death models that make economist and climatologist models look highly accurate in comparison, can be seen in the ludicrousness of the following chart. And realize we did this on purpose because of a virus that will kill .018% of the U.S. population. And most of those deaths will occur in several highly dense urban enclaves, with the rest of the country barely affected.

By shutting down the country the government has crushed virtually every business in the country and putting tens of millions out of work, with resulting crash in tax revenues at the Federal, State and Local level. At the same time, Trump and everyone in Congress have become Bernie Sanders socialists, except most of it is corporate socialism. The deficit was already on track to top $1.2 trillion, but with the $2.2 trillion stimulus package, and more to come, the deficit this year and next will approach $3 trillion.

“It has been more profitable for us to bind together in the wrong direction than to be alone in the right one. Those who have followed the assertive idiot rather than the introspective wise person have passed us some of their genes. This is apparent from a social pathology: psychopaths rally followers.” ― Nassim Nicholas Taleb, The Black Swan: The Impact of the Highly Improbable

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WHAT KEEPS THEM UP AT NIGHT

“Government has coddled, accepted, and ignored white collar crime for too long. It is time the nation woke up and realized that it’s not the armed robbers or drug dealers who cause the most economic harm, it’s the white collar criminals living in the most expensive homes who have the most impressive resumes who harm us the most. They steal our pensions, bankrupt our companies, and destroy thousands of jobs, ruining countless lives.” – Harry Markopolos, Madoff Whistleblower

Image result for bank ceos in front of congress

The tenth anniversary of the Wall Street created financial catastrophe brought back some bittersweet memories this week. I wrote my first articles during the summer/fall of 2008 for Seeking Alpha. They included: Is The U.S Banking System Safe? (Aug 2008), The Great Consumer Crash of 2009 (Aug 2008), Looming Financial Catastrophe: A Real Inconvenient Truth (Aug 2008), Is Wachovia the Worst Run Bank in America (Sept 2008), The U.S. on the Precipice (Sept 2008), On Board the U.S.S. Titanic (Sept 2008), Our Coming Depression (Oct 2008), among others. I was pumping out 5,000 word articles every 2 or 3 days.

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EVEN TOO BIGGER TO FAIL

When something becomes so big its failure would cause systematic financial collapse, do you make it smaller or do you let it become even bigger? In 1990, the five biggest U.S. banks held less than 10% of industry assets. At the end of 2017, the top 5 held more than 40% of all deposits.

The ruling oligarchs allowed Wall Street banks to become far too big by 2008. The result was global financial catastrophe caused by these Wall Street banks and their puppets at the Federal Reserve. They should have been liquidated and their assets distributed to smaller banks who had not committed the fraud of the century.

Instead, the Obama administration, in conspiracy with the Wall Street cabal, not only bailed out these motherfuckers but allowed them to become bigger and more powerful than ever before. Do you think this will end well for the common person in this country?

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Only Ten Year After the Last Financial Crisis the Banks Are At It Again

Guest Post by Jesse

“If at times his [Andrew Jackson’s] passionate devotion to this cause of the average citizen lent an amazing zeal to his thoughts, to his speech and to his actions, the people loved him for it the more. They realized the intensity of the attacks made by his enemies, by those who, thrust from power and position, pursued him with relentless hatred. The beneficiaries of the abuses to which he put an end pursued him with all the violence that political passions can generate. But the people of his day were not deceived. They loved him for the enemies he had made.

Backed not only by his party but by thousands who had belonged to other parties or belonged to no party at all, Andrew Jackson was compelled to fight every inch of the way for the ideals and the policies of the Democratic Republic which was his ideal.

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