This page has been archived and commenting is disabled.

Guest Post: Too Big To Fail Or Too Stupid To Stop - Screw Banks/Not People

Tyler Durden's picture




 

Submitted by Nomi Prins

Too Big To Fail Or Too Stupid To Stop - Screw Banks/Not People

This morning, amidst news of Moodys
cutting Greece's debt rating to Caa1, I came across a phrase I wish I'd
thought of first, reading through a friend's morning commentary. The
phrase? "Too Stupid to Stop". 

According to Bill Blain, Senior Director
at Newedge in London, and self-professed Euro skeptic, "'Too Stupid to
Stop' is based on politicians behaving as rational maximisers of their
electoral objectives." He was referring to the real reason behind all
the bank-demanded bailout loans for austerity measures throughout
Europe.

In the United States, that mantra can be
extended to include appointed officials, like Treasury Secretary, Tim
Geithner (still not admitting our record debt increase came directly
from the $4 trillion worth of Treasury issuance and other forms of
assistance extended to our banking system since late 2008, as we endure
his stomach-churning 'show-begging' to the GOP for a debt cap raise) and
Fed Chairman, Ben Bernanke (ditto). It also, of course, applies to
congress people whose political survival depends on corporate and bank
contributions and financial support, the ones that believe the
Dodd-Frank bill changes anything.

Rather than considering how governments
have systematically done, and continue to do, the wrong (as in immoral,
unfair, and uneconomically sound) thing by trying to preserve banks, any
politicians possessing the ability to think independently (an oxymoron,
I know) should be asking themselves instead, how clever they could be
about closing them down. Take a cue from Iceland.

But, the 'Too Stupid to Stop" behavior, prevents this from occurring. 

Bill and I used to work together at Bear
Stearns in London during the 1990s, before the Euro came into being.
Then, arguments in favor of its inception were more about how it would
lead to a 'much-needed' consolidation of political-economic control,
rather than an engendering of widespread economic well-being to more
European citizens, which didn't even enter the realm of political
discussion.

Fifteen years, marked by global currency
crises, a US recession caused by energy and telecommunications fraud, a
bank fostered global Depression, and a persistent strategy to guage
citizens to pay for the sins of bankers, later -  nothing has changed.

What Greece should do is default. Not as
a sign of economic weakness, but as a sign of protective strength
befitting the notion of Democracy that the country is credited for
having brought to the world. Default as an act of much-needed financial
defiance and independence from the insatiability of banks.

Last year, Greece's bailout was
fashioned in order to make foreign banks and their investors 'whole' on
their investments in Greece. It had zero to do with strengthening
Greece's local economy or its citizens' financial futures. Indeed, it
was designed to further trash the Greek economy, to chain the country to
untenable loan conditions that required selling assets at discount
prices to pay off new and old debt, while callously condemning its
population to decreased average wages and increased unemployment rates,
particularly amongst the nation's youth.

Rather than telling those banks that
were out the money - THEY HAD RISKED to begin with, to take the
free-market, s**t happens, hit, all sorts of austerity measures were
attached to the $157 billion bailout loan. They hurt citizens
immediately in terms of reducing pension and other social-economic
benefits, and hurt them ad infinitum by forcing ongoing fire sales of
their national assets which resulted in job losses. The same banks on
the hook for lending money to Greece during Phase 1 of the massive
global leveraged bet gone wrong, demanded repayment for their risk
(otherwise their investors would be upset). Now, they have a greater
opportunity to scrounge (read: extract fees) for new deals via brokering
European and global firms swooping in for fresh kill, amidst the
remains of Greece's assets, such as communication and energy
infrastructure.

And yet, rather than say - screw you -
to the ECB and the IMF, and all the mega-banking conglomerates that
signed off and received fees on deals and debt gone wrong, rather than
say - you know what? - we owe a debt to OUR CITIZENS, not the banks that
bet against them, and we don't like the terms of this arrangement,
Greek politicians are saying - screw you citizens. Again.

Greece is set to present a brand new austerity plan on Friday calling
for a FASTER pace of privatization, and more tax hikes on its citizens -
just to be able to pay off bondholders and the risk incurred by
international banks. This won't end well. If Greece does get a second
bailout package, everyone will discover that absent a strategy to revive
the local economy, the package will incur further pain, and at some
point there won't be any national infrastructure left to sell, and
unemployment will skyrocket further. A few bondholders will be happy
temporarily because they DON'T CARE whether Greece succeeds or the ECB
and IMF keeps creating debt to prop debt (like we do here in the US as a
matter of economic policy), same difference. A few banks won't have to
write down their losses for the same reason, and a few global
corporations will have bought some more assets at rock-bottom prices in a
country whose citizens won't be able to afford the payments that will
be counted upon to price the related securitization deals. And Greece
will be screwed even more.

The better plan would be to disband the
Too Stupid to Stop mentality. Screw the banks. Sadly, it's a
self-fullfilling downward spiral of incompetence - in Greece, Ireland,
Portgual, Spain, Italy, and the United States where the Fed is gearing
up for some verison of QE3 in the wake, ironically, of
Euro-pay-the-banks, indenture-the-citizens, chaos.  

I have a feeling meanwhile, there will be a lot more Greeks protesting in the streets come Friday.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 06/02/2011 - 16:13 | 1333766 Rodent Freikorps
Rodent Freikorps's picture

It won't stop until people stop taking paper for oil.

Thu, 06/02/2011 - 16:22 | 1333809 Weisbrot
Weisbrot's picture

 

banks would be stupid not to stop

and politicians would have to be honest to stop the banks

too corrupt to stop = most politicians

 

 

Thu, 06/02/2011 - 17:04 | 1333960 chumbawamba
chumbawamba's picture

Thus once again confirming that neocon zionists are complete fucking idiots.

Nobody takes paper for oil.  They take gold.  Arabs aren't stupid.  But zionist neocons are.

I am Chumbawamba.

Thu, 06/02/2011 - 18:00 | 1334075 Rodent Freikorps
Rodent Freikorps's picture

Other than appealing to the anti-Israel lobby, how did such a brain dead fuck like you gain so many fan boys?

You are a fucking moron.

Birds of a feather...bitch.

Thu, 06/02/2011 - 18:43 | 1334219 chumbawamba
chumbawamba's picture

Oh, wow, nice comeback.  Did you get help with that one?

Thu, 06/02/2011 - 19:09 | 1334283 Rodent Freikorps
Rodent Freikorps's picture

Yeah, your sister suggested the birds part.

Thu, 06/02/2011 - 20:01 | 1334403 Doña K
Doña K's picture

Saudis actually sell dollars and are buying water as they are running out. They need 25 or more desal plants in the next few years alone or they are dead in the water "pun intended."

The US of A can turn a blind eye to Iran and there will be no more Saudi Arabia. With the left over dollars, they are buying treasuries.

Thu, 06/02/2011 - 20:15 | 1334433 chumbawamba
chumbawamba's picture

Yes, right after she finished dominating and humiliating you.  Just as you like it.

Yeah, that's right, it doesn't all stay in that little room with your diaper on, bitch. 

I am Chumbwamba.

Thu, 06/02/2011 - 20:44 | 1334479 eatthebanksters
eatthebanksters's picture

You are a pathetic individual who espouses bigotry and hate while hiding behind the walls of anonymity.  If you truly believed what you espouse and had any inner strength and character you would not need to engage others with infantile behavior and derogatory comments. 

BTW, chumbawumba is what comes out of my ass when I'm sick...

Thu, 06/02/2011 - 20:53 | 1334497 Rodent Freikorps
Rodent Freikorps's picture

Hey, I'm on a budget, she only charges $40/hr and she takes it in the ass. You'd hit it too, if you weren't so creepy, she'd vomit from the thought.

Thu, 06/02/2011 - 19:07 | 1334275 bankruptcylawyer
bankruptcylawyer's picture

i used to think you were just another troll, and i generally ignore anti-semitic trash that tries to play itself off as anti-zionist.

 

next thing assholes like you will start blaming the jews for wall street's problems and lead a crusade against them just because a few of the big names do happen to be jewish. this is precisely why the jews created israel, and had a friend in america to do so. because once upon a time sixty years ago, this country actually fought against fascists.

Thu, 06/02/2011 - 20:38 | 1334469 Kayman
Kayman's picture

bankruptcylawyer

I totally agree that the anti-jewish rant does not help the discussion, but I have always had to wonder about the wisdom of setting up a Jewish state on such a small plot of land surrounded by hostile neighbors.

If the U.S. continues to rot, who will become Israel's benefactor?  Just a question.

Thu, 06/02/2011 - 20:59 | 1334506 Rodent Freikorps
Rodent Freikorps's picture

Mr. Neutron.

Why would anyone think Israel is as stupid as the US?

Thu, 06/02/2011 - 16:13 | 1333783 samsara
samsara's picture

It won't stop until people stop taking paper for oil.

It will stop when the flow of Oil drops by 20% over the next 10 years.

 

 

Thu, 06/02/2011 - 16:15 | 1333792 The Count
The Count's picture

You did not realize that we will start a war with any country that stops using Dollars for oil?

Thu, 06/02/2011 - 18:30 | 1334180 Cleanclog
Cleanclog's picture

At a conference recently, I heard a well respected researcher suggest that oil is becoming like new interest rates - especiallly in the ZIRP manipulated world.

Fri, 06/03/2011 - 00:07 | 1334841 Urban Redneck
Urban Redneck's picture

So when does the US invade China & the USSR?

I forgot- they are already at war with the US dollar.

Thu, 06/02/2011 - 19:07 | 1334274 1100-TACTICAL-12
1100-TACTICAL-12's picture

The oil will not stop fracking flowing, only potable water will...

Thu, 06/02/2011 - 16:13 | 1333784 russwinter
russwinter's picture

Chief Joseph Tars 'N Feathers Serial Bubbler Janet Yellen

 

http://americansresistance.blogspot.com/2011/06/chief-joseph-tars-n-feathers-serial.html

Thu, 06/02/2011 - 16:13 | 1333785 equity_momo
equity_momo's picture

Its all over bar the shouting. Doesnt really matter what the politicians do. Let them kick cans or otherwise, the end result is the same (and as much as i would like to think it will be better seeing the banks eat their losses , it probably wont be)  

All paths lead to zero.   Enjoy.

Thu, 06/02/2011 - 17:26 | 1334033 chumbawamba
chumbawamba's picture

Get the clips loaded.  The fun starts soon.

I am Chumbawamba.

Thu, 06/02/2011 - 19:25 | 1334328 Hugh G Rection
Hugh G Rection's picture

Never store a fully loaded mag, it weakens the spring.

 

I always put 28 in my 30rd mags.

Thu, 06/02/2011 - 20:58 | 1334505 uraniuman
uraniuman's picture

7 / 10 - plenty

Thu, 06/02/2011 - 16:13 | 1333786 TorchFire
TorchFire's picture

Dark Harbor


Where has she gone

with her lamp held high

beckoning outcasts who would live free or die?

 

There, in the east!

What? She stands as if caged...

her eyes remain steady yet her heart's disengaged

 

Once revered by the nation

(those who would not be ruled)

but her people grew weaker and now they are fooled

 

“Liberty!” they greet her

for they seem well acquainted

but she views them as strangers, with her wisdom untainted

 

While yet in her youth

the year nineteen thirteen

she was tied to an altar by hands so unclean

 

As freedoms were stolen

from that day to this

her children sat idle and did not resist

 

Now forced into shadows

for one hundred years

she stands in the harbor imprisoned by fears

 

She waits for the hour

for her torch reignited

by the courage of people from a nation united

 

When truth is revealed

from the flame in her eyes

those who once chained her will see their demise

 

And the elegant lady

once more we'll defend

and her principled nation will rise once again

 

© TorchFire 2011

 

Thu, 06/02/2011 - 16:19 | 1333806 illyia
illyia's picture

Very nice.

Put it to music.

Thu, 06/02/2011 - 17:15 | 1333984 suldog
suldog's picture

+100

Thu, 06/02/2011 - 17:28 | 1334042 chumbawamba
chumbawamba's picture

As one poet to another, that was brilliant.

I am Chumbawamba.

Thu, 06/02/2011 - 19:11 | 1334280 1100-TACTICAL-12
1100-TACTICAL-12's picture

Em, A, Em, A, A7, D SOLO Em ...... 

Thu, 06/02/2011 - 19:32 | 1334353 TorchFire
TorchFire's picture

I authorize your continued efforts and eagerly await the mp3 or youtube link! ;)

Thu, 06/02/2011 - 16:17 | 1333790 buzzsaw99
buzzsaw99's picture

the gods of finance are not pleased.

Thu, 06/02/2011 - 16:19 | 1333807 YesWeKahn
YesWeKahn's picture

I don't think there is any stupidity involved. This is a pure corruption and fraud. Unfortunately Bernanke becomes the weapon for some criminals. And there is no accountability for Bernanke who is a big liar and spin master.

Thu, 06/02/2011 - 16:28 | 1333834 aheady
aheady's picture

Agree. All by design.

Thu, 06/02/2011 - 18:18 | 1334159 Antarctico
Antarctico's picture

I don't think there is any stupidity involved. This is a pure corruption and fraud.

Indeed, this is not about stupidity it is pure and simple evil -- sociopaths doing what they do taken to an ultimate extreme.  I imagine that after all the simple folk of the world have been ground for their last bit of marrow, the owners of the millstones will return to the old medieval ways and start fighting amongst themselves for the scraps that remain. Unfortunately, by then few of us will still be around to enjoy the irony.

I don't know, perhaps I am just in a foul mood from the over saturation of recent bad news.  After all, tomorrow is another day.

Thu, 06/02/2011 - 16:23 | 1333808 The Count
The Count's picture

 

Who else in the forum has come to the conclusion that almost all our problems like immigration, sovereign debt, trade imbalance can ultimately be traced back to our ponzi scheme financial system and the guys who run it, the int. investment banks?

 

 

 

 

Thu, 06/02/2011 - 16:22 | 1333810 docmac324
docmac324's picture

Yeah, what he said.

Thu, 06/02/2011 - 16:25 | 1333823 Miles Kendig
Miles Kendig's picture

Nomi, it's incompetent because its designed to be this way.  The fact that so much is premised upon the insane concept of riskless risk, and the power of its purveyors speaks volumes about the current state of affairs.

Thu, 06/02/2011 - 16:31 | 1333844 Gubbmint Cheese
Gubbmint Cheese's picture

Miles! Welcome back!

Thu, 06/02/2011 - 16:51 | 1333914 Miles Kendig
Miles Kendig's picture

Good to see yaz!!  Lots going on, that's fo sho

Thu, 06/02/2011 - 16:30 | 1333839 SilverDoctors
SilverDoctors's picture

Ah but if we screw banks, not people, how can the banksters justify the 10 digit salaries and as many islands as they have girlfriends?

http://www.silverdoctors.com/

Thu, 06/02/2011 - 16:27 | 1333841 Gubbmint Cheese
Gubbmint Cheese's picture

Poems?

I can do that.

The crisis in Greece will be ceasing,

on Friday through ECB greasing

the market will cheer,

celebrating with beer,

at the greek citizen's absolute fleecing.

 

Thu, 06/02/2011 - 18:43 | 1334210 Hugh G Rection
Hugh G Rection's picture

Stalking through the chambers of the Federal Reserve

Ready to deal out what the swine deserve

 

A fully loaded betamag inside his M4

55 grains of justice cut banksters to the floor

 

Alas a bearded villain appears in the hall

Blood soaked marble results in his fall.

 

A quick burst to the waistline rips open his guts

A single shot to the forehead and its goodnight to the putz

Thu, 06/02/2011 - 19:59 | 1334408 Vic Vinegar
Vic Vinegar's picture

C’mon now.  Really?

Thu, 06/02/2011 - 20:17 | 1334436 Hugh G Rection
Hugh G Rection's picture

too much?

Thu, 06/02/2011 - 20:25 | 1334449 Rodent Freikorps
Rodent Freikorps's picture

Didn't sound very splodey. I give it a B+

Thu, 06/02/2011 - 20:40 | 1334466 Hugh G Rection
Hugh G Rection's picture

B's get degrees

Thu, 06/02/2011 - 16:32 | 1333847 jkruffin
jkruffin's picture

So, once Greece is kicked down the road with more bailouts, who is next up on the agenda immediately after? Are we back on Spain then? Italy? Ireland? Portugal back in the lead?  How in the world do you keep bailing out entire countries like the ECB has, and their currency not tank into the toilet, just to keep US stocks propped up?  This has to be the largest ponzi scheme ever run on the world.

Thu, 06/02/2011 - 16:42 | 1333880 CompassionateFascist
CompassionateFascist's picture

Actually, it's Germany bailing EU....still doing penance for WWII and the Jew-thing. It'll stop when enough people in Germany have had enough guilt. In America, when silver crosses 70, and the dollar drops below 70. Then, it - and all else - will stop like a down elevator hitting the basement.

Thu, 06/02/2011 - 19:14 | 1334291 willien1derland
willien1derland's picture

Interspersed with bouts of 'Yentervention' by the BoJ, 'Springtime' in Arabia, Fiat Floods in the U.S., & periods of Chinese Debt Shuffling...

Thu, 06/02/2011 - 16:31 | 1333855 The trend is yo...
The trend is your friend's picture

the only way the austerity bs stops is if the politicians are more scared of the welfare of  their lives then they are of the TBTF's heroin.  A few key people will need to be hung so the greek politicians have the balls to say F%^& You to the banks

Thu, 06/02/2011 - 17:14 | 1333979 chinaguy
chinaguy's picture

The ONLY way the rape by the TBTFs & the IBs will ever stop is if there are any adverse consequences to their actions. That will NEVER happen within the present Legal system...which is owned by them.

With apologies to Marla; someone one needs to take a dozen of these fuckers out so their replacements will think twice before they knowing destroy the lives of the "little people". Enough is enough.

Thu, 06/02/2011 - 18:10 | 1334136 Confuchius
Confuchius's picture

If you recall, this was, in the Third Reich, referred to as:"Liquidation".

Thu, 06/02/2011 - 21:06 | 1334525 chinaguy
chinaguy's picture

If you recall, the Third Reich was not much of a friend to "the little people". Idiot

Thu, 06/02/2011 - 16:38 | 1333865 vocational tainee
vocational tainee's picture

Why do we always concentrate on central europe? Is the Us and Great briton any different?

Thu, 06/02/2011 - 17:05 | 1333966 LFMayor
LFMayor's picture

Might have something to do with those wars last century.  You know, the ones that took a couple of 7, 8, 9 years and about 110 million deaths or so to shut down.

Thu, 06/02/2011 - 18:13 | 1334142 Confuchius
Confuchius's picture

And, how many years have your mercenaries been in Iraq / Afghanistan assassinating innocent civilians by the millions?

Thu, 06/02/2011 - 20:50 | 1334490 Kayman
Kayman's picture

 Confuchius

Er... unlike China where they assinate their own innocent civilians.

Thu, 06/02/2011 - 16:52 | 1333909 SMG
SMG's picture

That's a good picture.  But it is all about Luciferian symbols: eye of Horus, horned owl hand sign, the Federal reserve.  Nothing Jewish about it.   The right people must be blamed if there is to be real change after the collapse.

Thu, 06/02/2011 - 16:42 | 1333877 alfred b.
alfred b.'s picture

 

   @ Silver Drs.

 That's just it, as far as the banksters are concerned and with CONgress in their pocket:  It's too lucrative to pass up !!

 

No way that they'll give that away...unless we cut their access to washington.

 

 

Thu, 06/02/2011 - 16:44 | 1333881 I_ate_the_crow
I_ate_the_crow's picture

Excellent anti-bankster rant. However:

Sadly, it's a self-fullfilling downward spiral of diabolically planned evil made to look like incompetence.

 

 

Thu, 06/02/2011 - 16:46 | 1333889 nasdaq99
nasdaq99's picture

they're not stupid.  they have an agenda and they are too driven to stop.

 

I think if the EU completes the takeover of Greece then the die is cast for the takeover of all of europe.  they too are too driven to stop.  they have waited patiently for Greece Ireland and Portugal to bury themselves in debt.  once they have taken over those three, theywill take rates up and break Spain & Italy and own them too.  

 

to me it's very scary.

Thu, 06/02/2011 - 16:43 | 1333892 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Today's 2% flash crash in crude was stupid.

Thu, 06/02/2011 - 16:49 | 1333900 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

And gold's was too.  Since Bernanke has studied so much I wonder if he has ever taken the time to learn what happens when you lease all of a Central Bank's gold at once.

Thu, 06/02/2011 - 18:15 | 1334147 Confuchius
Confuchius's picture

Lease? Steal! There is a slight difference.

Thu, 06/02/2011 - 19:22 | 1334320 SwingForce
SwingForce's picture

And TLT

Thu, 06/02/2011 - 20:57 | 1334501 Kayman
Kayman's picture

 Bernanke has studied so much

Sadly Ben missed the courses on Common Sense, 'rithmatic, and morality. 

Thu, 06/02/2011 - 16:59 | 1333942 tip e. canoe
tip e. canoe's picture

mob rules bitches

Thu, 06/02/2011 - 16:52 | 1333919 css1971
css1971's picture

Incompetence?

 

These people don't get where they are by being incompetent. They are trying to look incompetent in order to avoid the firing squad.

Thu, 06/02/2011 - 17:00 | 1333930 docj
docj's picture

Take a cue from Iceland.

The best advice precisely nobody in the world will take.

Thu, 06/02/2011 - 17:01 | 1333939 nah
nah's picture

the bankers are like kings... carving privilege from society

Thu, 06/02/2011 - 17:02 | 1333940 Canucklehead
Canucklehead's picture

...Indirectly related but slightly off topic...

I was wondering how this healthcare cost research related to Europe, or other parts of the world:

http://www.ncbi.nlm.nih.gov/pmc/articles/PMC1361028/pdf/hesr_00248.pdf

http://www.medicaid.state.al.us/documents/Program-LTC/LTC%20Committee/health%20care%20boomers.pdf

http://crr.bc.edu/images/stories/Working_Papers/wp_2010-1.pdf

http://www.ahrq.gov/research/ria19/expendria.pdf

These research papers point to a cost structure that is going to get "adjusted" going forward in an austere environment.

For example,

• Five percent of the population accounts for almost half (49 percent) of total health care expenses.
• The 15 most expensive health conditions account for 44 percent of total health care expenses.
• Patients with multiple chronic conditions cost up to seven times as much as patients with only one chronic condition.

Thu, 06/02/2011 - 17:23 | 1334011 topcallingtroll
topcallingtroll's picture

The maximization of political self interest does explain our current predicament.

Harm the productive classes ( the minority) by saddling them with high taxes and debt so that senior bondholders are made whole and a majority of the people are promised more benefits than they pay in taxes is a winning political strategy

Thu, 06/02/2011 - 17:23 | 1334012 DNB-sore
DNB-sore's picture

I knew a knuckehead but is was a Harley Davidson. Nice vintage bike going 100mph in 1947-48 standard issue

Don't like your post, its just asign of the time. Please do not implicate the killing of the weakest

Thu, 06/02/2011 - 17:28 | 1334043 DNB-sore
DNB-sore's picture

meant i do not like your comment

Thu, 06/02/2011 - 17:29 | 1334044 FreeNewEnergy
FreeNewEnergy's picture

Good stuff Canuklehead, and precisely why I have never purchased health insurance in my 57 years.

Five percent of the population accounts for almost half (49 percent) of total health care expenses.

Yep, like I always said, if I get cancer, I expect to die. Why can't everyone else just see this for what it is: vanity, selfishness and an inability to take death as the natural outcome from living.

Accepting death as inevitable makes living much more robust and enjoyable.

Thu, 06/02/2011 - 17:49 | 1334084 Rodent Freikorps
Rodent Freikorps's picture

Spoken like someone who has never watched their death approach. Live and learn.

Thu, 06/02/2011 - 17:59 | 1334112 hardcleareye
hardcleareye's picture

Or someone who never had a sick kid in the hospital!!! 

Thu, 06/02/2011 - 18:46 | 1334217 Rodent Freikorps
Rodent Freikorps's picture

No shit. Even deals with the devil are on the table in that circumstance.

Fri, 06/03/2011 - 11:36 | 1336081 cranky-old-geezer
cranky-old-geezer's picture

I just love comments like this. 

Politicians selling their soul to the bankster mafia is wrong, but selling your soul to the pharma mafia is ok.

How many others here on ZH would do that?

Governments going way in debt to the banker mafia is wrong, but people going way in debt to pharma mafia is ok.

Hospitals are fronts of the pharma drug trade.  Doctors are street-level pushers. 

It's all nice and legal.  That's the only difference.

People even buy expensive insurance for it.

If curing is the measure of performance, modern medicine has a horrible performance record.  Pretty close to zero.

Treating doesn't count.  Controlling doesn't count.  "Remission" doesn't count.

Curing is all that counts, and they pretty much fail at curing.

If Obamacare required doctors and hospitals to cure to get paid, doctors would go out of business, hospitals would go out of business, the pharma mafia would lose their fronts and street-level pushers, and the whole thing would collapse.

It sounds a little hypocritical to bash the bankster mafia while declaring you'd gladly sell out to the pharma mafia.

Junk away.  Truth hurts doesn't it.

Thu, 06/02/2011 - 17:55 | 1334102 slewie the pi-rat
slewie the pi-rat's picture

+++ nomi prins.  the political will is styooopifried!  

Thu, 06/02/2011 - 17:58 | 1334110 AldoHux_IV
AldoHux_IV's picture

Too stupid to stop-- I like it!

Hang 'em high Greek people, hang 'em high. Take your country back.

Thu, 06/02/2011 - 19:33 | 1334310 SwingForce
SwingForce's picture

Nomi, loved your book IT TAKES A PILLAGE. Hank's middle name should be TREASON. I remember the olden days when men would rob banks, not when banks would rob men. Thank you, somebody somewhere will wake up and protect what's left of themselves. It will never end, otherwise. People are too stupid to stop THEM.

Thu, 06/02/2011 - 19:50 | 1334389 Crack-up Boom
Crack-up Boom's picture

Boy, if you're a "fan" of Hank's, steer clear of Too Big to Fail (HBO).  He is the selfless martyr saving the country from the politicians.  Ugh. 

Thu, 06/02/2011 - 21:03 | 1334517 Kayman
Kayman's picture

 Crack-up Boom

Too Big to Fail (HBO)

Yeah, what a piece of shit that was.  Kind of missed the point that Hank and his ilk caused the problem, and saddled the American middle class with a lost generation.

Thu, 06/02/2011 - 20:13 | 1334429 gametracker
gametracker's picture

I remember the olden days when men would rob banks, not when banks would rob men.

awesome

Thu, 06/02/2011 - 21:09 | 1334535 Kayman
Kayman's picture

Banks always robbed men. Now it is out in the open. They do it in your face, tell you that you deserved to be robbed, pay themselves bonuses for their clever criminality, and then tell you to go fuck yourself.

Fri, 06/03/2011 - 06:15 | 1335056 ak_khanna
ak_khanna's picture

The vast majority of the population is suffering due to the following activities for which the corporate and the banksters funded government is to blame :

Not breaking up the too big to fail banks who were the root cause of the credit crises.

Not even changing the management of the banks or companies before showering them trillions of dollars as bailouts to continue doing activities which caused the crises.

Not even a single banker is charged for fraud or criminal activities despite ample proof available.

Fining the banks millions of dollars for crimes in which they earned billions of dollars.

Lack of initiative to reinstall Glass Stegall act which prevented the bankers to use others money to manipulate stock, currency and commodity markets.

Not spending money on improvemen­­t of infrastruc­­ture of the country which would have created millions of jobs instantly.

Not stopping speculator­­s from increasing the price of essential commoditie­­s such as oil to over $100 per barrel which is causing the rest of the population to be pushed below the poverty line.

Manipulati­­ng data to give the illusion of low inflation and economic recovery so that the incompeten­­cy of the government is hidden from public view.

http://www­.marketora­cle.co.uk/­Article245­81.html

Fri, 06/03/2011 - 11:41 | 1336190 cranky-old-geezer
cranky-old-geezer's picture

Too OWNED to stop.

TOTS

You saw it here first.

Do NOT follow this link or you will be banned from the site!