They're Doing It Again (BIG Surprise!) Wall Street is again using insurance guarantees to turn difficult-to-rate credit exposure into highly rated securities.
Posted by freedomforall 5 days, 3 hours ago to Business
Wall Street's every "innovation" since 1913 is to obscure their goal: to steal from all their customers.
Never punish crimes and you get more crimes.
They are much more dangerous to liberty and civil society than Iran.
Nuke Wall Street.
Excerpt:
"Once again, Wall Street is not eliminating risk. It is relocating it, obscuring it and reducing the amount of capital held against it. And once again, the entire arrangement is encouraged by the understanding that the Federal Reserve will respond to a sufficiently large accident with emergency lending, asset purchases, liquidity facilities and whatever alphabet soup is necessary to keep asset prices from discovering consequences.
This is the lesson Wall Street learned from 2008: not that leverage and opacity are dangerous, but that they should be spread widely enough to qualify for federal protection.
Make a reckless bet by yourself and you go bankrupt. Make the same bet through enough banks, insurers, pensions and retirement accounts and you become systemically important."
Never punish crimes and you get more crimes.
They are much more dangerous to liberty and civil society than Iran.
Nuke Wall Street.
Excerpt:
"Once again, Wall Street is not eliminating risk. It is relocating it, obscuring it and reducing the amount of capital held against it. And once again, the entire arrangement is encouraged by the understanding that the Federal Reserve will respond to a sufficiently large accident with emergency lending, asset purchases, liquidity facilities and whatever alphabet soup is necessary to keep asset prices from discovering consequences.
This is the lesson Wall Street learned from 2008: not that leverage and opacity are dangerous, but that they should be spread widely enough to qualify for federal protection.
Make a reckless bet by yourself and you go bankrupt. Make the same bet through enough banks, insurers, pensions and retirement accounts and you become systemically important."
If our government (and when) never used them, we would never get into this kind of debt.
When the currency is magically created with debt.
A Debt becomes an Asset.
Inflation becomes GOOD, as it bails out the banks, punishes savers, and forces them into the stock market.
The stock market goes up, in general, because of INFLATION (or reduction in value of the dollar). Owning stocks becomes one of the few ways to hedge inflation.
Then the corruption sets in. Then you cannot punish the corrupt, because they are at the TOP.
I believe we have crossed the chasm on fraud. Someone said that 10% of our GDP is pure fraud. And if they got rid of it, we would never recover. That should scare people, that someone could SPEAK THOSE WORDS OUT LOUD without fear of tar and feathering...
We are so feeble of a people, that we need the maggots eating our flesh, because SOME of their eating is eating the cancer that would kill us faster...
That gambles with our money and when they invariably lose, are bailed out with our money again! SPIT
The solution is to make honesty more profitable/popular and white collar (and politically-based) crime punished much more severely, e.g., impalement on the national mall for all prospective criminals to see.
Application of criminal conspiracy and treason statutes against Wall St and the banking cartel would be a good start.
Commit a Gun Crime, you get stripped of ALL GUNS.
Commit a FINANCIAL Crime. You get stripped of your finances. All of them.
We already know how to create deterrents. Ask the IRS. Interest, Plenalties AND the payment. With the first 2 compounding.
How about Triple Damages for some crimes.
Those crimes are much more rare.
The PUNISHMENT for Laundering Money should be 100% of the money laundered. Then you go to the people that laundered the money, and get 100% from them.
Finally, create a government competitor. Pay 50% in tax and the federal government will give you a receipt. Clean your money here, we could use the tax income. (And the DOJ could use the leads, LOL)
Oh, and if they paid their family, the clawbacks go through to ALL of their family members... It would no longer pay to be a Biden.
I will also repeat. If it is a CRIME for normal citizens. Then ELECTED Officials should have all sentences MULTIPLED by a factor based on how HIGH UP they are in government.
Notice how big Trumps fines were for Boldfaced Lies!
Prevent the spread of genetic sociopaths to future generations.
(Of course, the evidence must be indisputable.)
Or better yet, the sequel:
Call It Conspiracy. Allen/Abraham 1982
That's Wall Street and politics. Crime after crime with no punishment.