Tag: Wall Street scum

HEROES & WHORES

With the new Netflix documentary about the Madoff fraud out, I thought reposting my take on the Wall Street scumbags who perpetuated this fraud and the corrupt losers at the SEC who turned a blind eye, would be worthwhile. Written 5 years ago.

“Certainly one of the most important things I learned is that numbers can be deceiving. There is a logic to mathematics, but there is also the underlying human element that must be considered. Numbers can’t lie, but the people who create those numbers can and do. As so many people have learned, forgetting to include human nature in an equation can be devastating.” ― Harry Markopolos, No One Would Listen

Harry Markopolos: The man who hunted Madoff - Feb. 25, 2010

The quote I used from Harry Markopolos’ No One Would Listen book about the Bernie Madoff ponzi scheme in my last article triggered a bittersweet recollection. For me, the experience captured the true nature of our warped financial markets, a culture  glorifying wealthy arrogant criminal assholes, while ignoring or ridiculing honest, hard working, highly intelligent truth tellers.

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QUOTES OF THE DAY

“If we set aside the supervisory class and professionals on payrolls, the great underclass is composed of many no better off, with the rest worse off during 10 yrs of so-called ‘recovery.’ Wage growth for non-supervisory workers is getting worse, not better, when adjusted for inflation.”

Harald Malmgren

“They [the Banks] are less leveraged but have larger balance sheets. The risk is in the gross, not the net. When times are calm, no capital is needed. When panic begins, no amount of capital is enough.”

Jim Rickards

“And the banks – hard to believe in a time when we’re facing a banking crisis that many of the banks created – are still the most powerful lobby on Capitol Hill. And they frankly own the place.”

Dick Durbin

“Remember when nurses, caregivers, teachers and students crashed the stock market, wiped out banks, took billions in bonuses and paid no tax? No, me neither.”

Fuad Alakbarov

“In economics, it is often professionally better to be associated with highly respectable error than uncertainly established truth. Wealth is the relentless enemy of understanding.”

John Kenneth Galbraith

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Ten Years After the Crash, We’ve Learned Nothing

Guest Post by Matt Taibbi

NEW YORK - SEPTEMBER 16: Traders work on of the floor of the New York Stock Exchange (NYSE) September 16, 2008 in New York City. The Federal Open Market Committee (FOMC) met today and announced they will hold the federal funds rate at 2.0 percent, despite the recent turmoil among investment banks on Wall Street. U.S. stocks were mixed following yesterday's Dow Jones Industrial Average plunge of 4.4% or 504 points, being the worst single day loss since the terrorist attacks of September 2001. (Photo by Spencer Platt/Getty Images)

Ten years ago, on Saturday, September 13th, 2008, the world was about to end.

The New York Federal Reserve was a zoo. Imagine NASA headquarters on the day a giant asteroid careens into the atmosphere. That was the New York Fed: all hands on deck, peak human panic.

The crowd included future Treasury Secretary Timothy Geithner, then-Treasury Secretary (and former Goldman Sachs CEO) Hank Paulson, the representatives of multiple regulatory offices, and the CEOs of virtually every major bank in New York, each toting armies of bean counters and bankers.

The asteroid metaphor fit. In the twin collapses of top-five investment bank Lehman Brothers and insurance giant AIG, Wall Street saw a civilization-imperiling ball of debt hurtling its way.

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THIS DAY IN HISTORY – A Wall Street scheme is hatched – 1982

Via History.com

Martin Siegel meets Ivan Boesky at the Harvard Club in New York City to discuss his mounting financial pressures. Arbitrageur Boesky offered Siegel, a mergers-and-acquisitions executive at Kidder, Peabody & Co., a job, but Siegel, who was looking for some kind of consulting arrangement, declined. Boesky then suggested that if Siegel would supply him with early inside information on upcoming mergers there would be something in it for him.

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WHAT THE HELL IS GOING ON? (PART THREE)

In Part One and Part Two of this article I revealed how the Deep State’s fake data and fake news propaganda machine can be overcome by opening your eyes, observing reality, understanding how Fed created inflation has destroyed our lives, and why the election of Trump was the initial deplorable pushback to Deep State evil.

“The notion that a radical is one who hates his country is naïve and usually idiotic. He is, more likely, one who likes his country more than the rest of us, and is thus more disturbed than the rest of us when he sees it debauched. He is not a bad citizen turning to crime; he is a good citizen driven to despair.” – H.L. Mencken

“This new regime will enthrone itself for the duration of the Crisis. Regardless of its ideology, that new leadership will assert public authority and demand private sacrifice. Regardless of its ideology, that new leadership will assert public authority and demand private sacrifice. Where leaders had once been inclined to alleviate societal pressures, they will now aggravate them to command the nation’s attention. The regeneracy will be solidly under way.” – The Fourth Turning – Strauss & Howe

We are now seven weeks into the Trump presidency and it seems like seven years with amount of incidents that have occurred before and since his inauguration. When in doubt, Trump’s brain dead, hyperventilating with hate, opponents either blame the Russians or declare him Hitler. The histrionics displayed by the low IQ hypocritical Hollywood elite, corrupt Democratic politicians, fake news liberal media and Soros paid left wing radical terrorists over the last two months has been disgraceful, revolting, childish, and dangerous.

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