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I Won't Invest Another Penny Until the Criminals Who Caused the Financial Crisis Are Safely in Jail

George Washington's picture




 

Washington’s Blog

Here's an idea for a bumper sticker:

I Won't Invest Another Penny Until the Criminals Who Caused the Financial Crisis Are Safely in Jail

Can you imagine how much pressure would be put on the government to start real prosecutions if a million of us put that on our cars and elsewhere?

Wake people up, and show that we have leverage ... put it on your car, flyers, posters and freeway blogs.

And reader Jeff came up with another good slogan:

Austerity and prosecution for the bankers.
Austerity for the government including the military.
Then we can talk about austerity for the rest of us.

 

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Sat, 12/11/2010 - 08:35 | 797924 Salinger
Salinger's picture

...

Fri, 12/10/2010 - 22:41 | 797893 Salinger
Salinger's picture

more good news

Dutch authorities said they arrested a 16-year-old boy suspected of being involved in attacks on the websites of MasterCard and Visa that were allegedly mounted by sympathizers of document-leaking website WikiLeaks....Dutch police believe he is part of a larger group of WikiLeaks sympathizers

http://online.wsj.com/article/SB1000142405274870472080457600972363269198...

 

 

Fri, 12/10/2010 - 22:39 | 797889 Salinger
Salinger's picture

good news gw

 

NEW YORK — A former Goldman Sachs programmer has been convicted of stealing secret computer code that enables high-speed trading.

A federal jury in Manhattan convicted Sergey Aleynikov of North Caldwell, N.J., on Friday.

Prosecutors had called it "a case about theft and greed." They asked after the verdict that Aleynikov wear an electronic bracelet until sentencing.

 

http://online.wsj.com/article/AP8192305b26f84e2590530e4747e88e7f.html

 

on second thought....

Fri, 12/10/2010 - 13:15 | 795946 Don Levit
Don Levit's picture

Folks:

I have most of my money invested with Northern Trust.

Instead of investing in the stock market, I have decided to pull all the money out in the next couple of months and invest in annuities that mirror the S&P.

If it goes up 10%, I could get 80% of the return.

If it goes down, I lose nothing, and start from a lower base to, hopefully, rise the next year.

I also am guaranteed 3%.

Has anyone dealt with these annuities before?

What has been your experience?

Also, if I do this am I still cooperating with all you guys, or am I still part of the "enemy?"

Don Levit

Fri, 12/10/2010 - 17:12 | 796975 RockyRacoon
RockyRacoon's picture

I hope a knowledgeable person gets you an answer to that question, Don.  I don't know since that's not my area, but I'm interested to hear the ramifications of the plan.  As long as you are a willing participant you'll be a welcome asset at ZH in my opinion.

Fri, 12/10/2010 - 13:09 | 795919 triplenegative
triplenegative's picture

Re: engineering vs MBAing. Depends when you got that Ivy-League MBA, too: every fad has its day, given enough liquidity. As an only punch cards only/no personal computers female MBA ('81) attending the same lower-Manhattan B-school from which that unfortunate patsy Richard Grasso graduated, we were taught to be wary of ridiculous abstractions. Curriculum probably was the same in Ivy schools in late 1970s? Common sense was stressed: our professors were hard-knocks moderate successes, full of practical advice. The sociopathic, quant/Scholes/money-machine stuff brought back the only enduring model: shirtsleeves to shirtsleeves in three generations. Producers in shirtsleeves keep their net gain in their vests. 

Fri, 12/10/2010 - 12:45 | 795791 Panafrican Funk...
Panafrican Funktron Robot's picture

Just to further comment on the ways to reduce our "economic footprint", consider that the three prongs of environmentalism are reduce, recycle, and reuse.  Note further that "reduce" and "reuse" are rarely talked about because they cause people to buy less shit.  Yet, these actions have a far, far greater positive environmental impact.  As an added bonus, you're starving the beast that is the corps that sent your livelihoods overseas, cut your pay and benefits, increased your hours and workload, and expect you to shut up and be happy about it, and also the loan sharks such as BAC, C, JPM, WF, etc. that act as the parasites they are, sowing social disorder and destruction in order to live in opulance. 

Let me break it down even more simply here.  Consider a typical football game, such as the one I attended last night.  I managed to luck out on getting some club level seats.  I hadn't actually been on the club level before.  It's really way the fuck nicer than any of the other seats.  Heated indoor lobbies, fancy ass buffets, they serve better beer, even the popcorn is better.  But these people, the ultra-rich, they look down on the club level people.  I don't even know what the hell they get.

The thing about this is that these are not people that work any harder than you do.  Get this through your head if it's not already there.  The hard work = better pay model, is simply complete fucking bullshit.  These people in the club level are the same stupid fucking jerks you experience in the upper deck, they just make more money than you.

I realize this is rambling incoherence, but I have to go to a corporate Christmas party now, and pretend to enjoy it.  Tacky sweater contest is the special event.  And people wonder why the suicide rate is higher around this time.  Between this and the Black Friday videos featuring people trampling eachother to get a toy (child or adult), is enough to just send a person into extreme mental distress over what the fuck we're all doing here.

Fri, 12/10/2010 - 12:43 | 795786 gkm
gkm's picture

This is perhaps the stupidest thing I have ever read.  Do you think holding Federal Reserve zero coupons (i.e. dollars) is a smart idea?  Good luck with that.

Fri, 12/10/2010 - 12:23 | 795669 SheepDog-One
SheepDog-One's picture

Ive been saying it ever since Paulson and his ass-puppet Kashkari rammed their multi trillion heist thru the incompetent and totaly corrupt clowngress, 'Not another penny put within these clowns reach until hundreds of arrests and incarcerations are complete'.

I see no progress on that at all.

Fri, 12/10/2010 - 12:22 | 795664 Miss America
Miss America's picture

Does this mean you will be no longer contributing to your 401k/pension???  (and also transferring all your current 401k/pension funds to a MMKT???)

This people...  is the constant floor that "we the people" keep placing on this ponzi pyramid.  This dumb money flows and flows and flows.  IT keeps coming every week, and combined with bailouts, M2M accounting and leverage...  The financial elite will keep laughing their way to the bank.

 

All the best, Miss America

Fri, 12/10/2010 - 12:38 | 795754 rich_maverick
rich_maverick's picture

Given the company contribution, and the fact that I know how to squeeze extra returns from my cash there, I don't want to get rid of my 401k completely.  But, also knowing that one day in the near future, they will simply "confiscate my 401k", or force me to invest in US bonds "for my own good", I would rather find ways to take some of this money off the table.  Ironically, currently my 401k portfolio is my riskiest portfolio, simply because I know I will likely never see it, so I can afford to get aggressive.  My plan allows me to buy stocks and ETFs directly.  Now that I've made some serious money there, I'm trying to figure out how to unload some of my winnings without having to quit my job.

Fri, 12/10/2010 - 12:21 | 795661 rich_maverick
rich_maverick's picture

I've already been doing this.  Been draining my bank accounts, CDs, and even stocks since 2008.  Moved this mostly to PMs and cash on hand.  I still have a sizeable amount in the SYSTEM.  But, some of this is in CDs.  So, just waiting for them to mature, and taking them out.

I do have a sizable 401k (invested in PSLV, CEF, GDXJ, amongst others).  How can I sell if I'm still employed?  I want to take most of this out and don't know how.  My plan says I have to quit or loose my job because I can do anything with the plan.  Any advice?

 

Fri, 12/10/2010 - 12:21 | 795660 old.frt
old.frt's picture

I won't be happy until the clawback begins in earnest.

Let's see these people wearing orange jumpsuits picking up aluminum cans off the shoulders of the freeways of America.

They deserve nothing less.

 

 

Fri, 12/10/2010 - 12:16 | 795628 DeltaDawn
DeltaDawn's picture

My spouse is not on-board (scared shitless) like I am.  He won't sell company stock or do anything with his 401k.  Must be his Ivy League MBA keeping him from thinking straight. Anyone else have a spouse who thinks they have gone off the deep end? I have several other female friends who are having a hard time convincing their husbands that it is gonna be bad.

Fri, 12/10/2010 - 14:16 | 796198 -Michelle-
-Michelle-'s picture

I had a hard time convincing my husband at first.  I just started slow and appealed to his nature (i.e. "Gee honey, don't you think you need another gun and some more ammo?")  Slowly, slowly, I gave him more and more info on the Ponzi and the benefits of having a good stockpile of things we need.

That was back in February/March of this year.  Yesterday, over dinner, he started ticking off all of the progress we've made and asked me to put together a list of the places where I got our supplies so that he can pass it on to some of his guys at work who are of the same mindset.

It takes a while to clear the veil from one's eyes.  I think us ladies may have an easier time of it because it's more natural for us to be gatherers.  Just be patient, calm, and consistent.  He'll get there.

Fri, 12/10/2010 - 13:48 | 796092 Trifecta Man
Trifecta Man's picture

Assuming he has some intelligence with an MBA, show him this web page.  http://www.usdebtclock.org/

Ask him, if he was running the country, how would he plan to pay off the $125K of average debt that taxpayers owe on the US government national debt.  Point him to the figure near the top of the screen.

Ask him, if he was running the country, how would he plan to pay for the $1 million of average liabilty that taxpayers need to meet to pay off the US unfunded liabilties.  Point to the figure near the bottom of the screen.

Look at the total amount of debt that everyone in the US owes.  Ask him what plan does he have to come up with the $671K of average total debt per family now owed.  Point to the figure near the middle of the screen.

If he has any money skills at all, he should be perplexed by these problems.  Then tell him that is why he needs to diversify away from dollar bills into real assets (not debt).

Fri, 12/10/2010 - 12:41 | 795767 Monday1929
Monday1929's picture

If they don't see it now, they won't see it until it is too late. And if they do see it, they will put their (your) money into something "safe", like municipal bonds, which will blow up soon. Insist on protecting your 1/2.

Fri, 12/10/2010 - 12:30 | 795705 rich_maverick
rich_maverick's picture

Having one of those Ivy League MBAs, it amazes me just how naive many of my fellow MBAs are.  I think the difference is that I'm also an engineer and don't buy into the simple line equations (excel line regressions) and simple curve diagrams they like to push on people.  My engineering education conflicts with my MBA education.  One of the things engineering thought me is that in control system modeling, models don't work in the real world.  There are simply too many variables.  Furthermore, the more complex the system you try to model is, the less valid the model is.  Modeling the world economy is like modeling the weather.  Yet, the guys on Wall Street don't quite understand all the forces involved.  As such, they will never understand the dynamics and the risks.  So, their accuracy will be worse than that of the weathermen (which often don't get it right either).

Fri, 12/10/2010 - 12:08 | 795596 bubba1231
bubba1231's picture

 

GW and his supporters don't believe that OBL committed 9/11.  How is someone with these beliefs allowed to post here.  He has zero credibility and has taken a massive $hit on the graves of those who died and their families

Fri, 12/10/2010 - 17:17 | 796999 RockyRacoon
RockyRacoon's picture

Yo, Bubba.  I think they spiked your kool-aid to make it go down a bit easier.

Fri, 12/10/2010 - 12:32 | 795712 Panafrican Funk...
Panafrican Funktron Robot's picture

Speaking as someone who lost his brother in that attack, kindly shut the fuck up and realize that many of our families are calling for the same things GW is.  When even the likes of Chuck Grassley are calling for the investigation to reopen, and for Sibel Edmonds to finally get to publically state the truth, it's not hard to figure out who has "zero credibility" in this conversation.

Our family deserves the truth, the real truth, and nothing but the truth.

Fri, 12/10/2010 - 12:05 | 795576 Crispy
Crispy's picture

I work in the biz and the only investments I hold are long dated CD`s with variable rates in case rates fly and physical PM`s to protect me on the other side. 50/50 ratio.

Fri, 12/10/2010 - 11:43 | 795500 iDealMeat
iDealMeat's picture

You are in control.  Cut your consumption in 1/2..  When everyone finally does it will kill the beast.

Fri, 12/10/2010 - 11:58 | 795544 Cognitive Dissonance
Cognitive Dissonance's picture

Won't even take that much. The Ponzi depends upon the exponential function. Just slowing the rate of growth will have an enormous effect. 

Fri, 12/10/2010 - 11:40 | 795490 Ras Bongo
Ras Bongo's picture

If you do that you may get arrested for being a domestic terrorist

Fri, 12/10/2010 - 11:39 | 795488 QevolveQ
QevolveQ's picture

GW, I think there is one way to do this. People are not going to put signs on their cars. It needs to be a much more silent protest than that. The one method I've seen that I believe has a chance is the Move Your Money project: http://moveyourmoney.info/

If we as a people want to truly punish the banking cartel, protest the Fed policies, and stand up for our rights and freedom we need to move all of our assets and our debts away from the large money center banks. If you have checking, savings, investment, credit cards, student loans, or any other accounts at banks in the cartel start planning how you will move your business. This will take time for some as you can't necessarily move a debt account right away. But asset accounts are easy.

 

Go open a new checking account now! The website above has an easy search tool, you can enter your zip code to find local community banks and credit unions. We have the right to decide where we want to do business. And as a whole we have a lot of power...if enough people move their money, the cartel will be crippled. Even states are getting in on it now, realizing they are getting ripped off left and right by these bid rigging whores. Get started today folks!

Fri, 12/10/2010 - 11:32 | 795462 kaiserhoff
kaiserhoff's picture

Too long and too limited, George. Try this.

MY ENEMY = THE STATE!

Fri, 12/10/2010 - 11:27 | 795440 jc125d
jc125d's picture

Quomodo facta est meretrix civitas fidelis, plena judicii? justitia habitavit in ea, nunc autem homicidæ. Argentum tuum versum est in scoriam; vinum tuum mistum est aqua. Principes tui infideles, socii furum. Omnes diligunt munera, sequuntur retributiones. Pupillo non judicant, et causa viduæ non ingreditur ad illos.

Fri, 12/10/2010 - 12:02 | 795561 SilverRhino
SilverRhino's picture

argentarias crucifigerent

Fri, 12/10/2010 - 11:26 | 795437 bernorange
bernorange's picture

Who is John Galt?

Fri, 12/10/2010 - 11:23 | 795424 Smiley
Smiley's picture

Already drained the brokerage account.  401k gets fully vested in a couple months; that's getting shut down to.  Fuck the fees; I'm out of the stock market for good.  I've canned my plans to open some ROTH IRA's to:  I just have this 1000% positive feeling that my investments will get HFT'd to death or congress will pass some sort of tax law declaring ROTH IRA's taxable upon withdrawal.  I have ZERO CONFIDENCE in the current US financial investment system as a whole.

I'm gonna keep stacking PM's.  Any foreign countries offering incentives to lure pissed off Americans to relocate?  I am very receptive to the idea of getting out of America.  Hell, this is first year since I turned 18 that I didn't vote.  I don't believe in the dream, the game, or the people anymore.  95% of this country's people don't even know what money really is or where it comes from, and you want me to invest here?  Fuck DC, Wall Street, and the publicly educated sheep always Bahing for handouts; disgusting little leeches, all of em.

Fri, 12/10/2010 - 12:01 | 795418 cowdiddly
cowdiddly's picture

I went one step further and will rarely buy anything from any Corporation (FUCK EM ALL) only basic food items (I grow or raise most). I try to buy it used from a person. Everything I need has already been mass produced by the billions. Bonus, I dont pay a dime in sales taxes, automatic (% savings. My phone internet and utilities I must use but am working on those. Told my cell phone, TV and credit card companies  to pound sand and buy my diesel in tiny amounts helps me plan my trips and keeps their storage tanks full to evaporate not mine. Even bought a junk car of the same model I drive to cannibalize parts off and my car will last longer than their oil reserves or until it fuel becomes to high to afford . Sold my stocks in 2008 Dow 10800, Dow today? LMFAO. Down to 4 monthly bills and love the lack of stress and simplicity. I guess you could say Im deleveraging not only debt but TOTAL CONSUMERISM. Pass your fat bonus and buy a politician  with that bitch and stick it up your I-HOLE

Fri, 12/10/2010 - 12:05 | 795578 Panafrican Funk...
Panafrican Funktron Robot's picture

I'm with you there, wife is on board as well, she does all our clothes shopping at Goodwill.  Mind you, not even the main store - she shops at the outlet, where you pay by the pound.

Fri, 12/10/2010 - 13:08 | 795894 cowdiddly
cowdiddly's picture

My main purchases this year.

  1/2 beef from a local., used steel traps, used reloading equipment, some old penn fishing reels,a few seed a sack full of silver dollars.   I guess its that damn boyscout coming out in me you know that always be prepared thingy. I call it my SHTF stash.. LOL

Fri, 12/10/2010 - 11:22 | 795416 f16hoser
f16hoser's picture

Pulled 30% of my retirement funds. Why you ask? Simple really: 1) Todays dollars will always be worth more than tomorrows dollars and 2) I like Silver Bullion. I'm addicted actually....

 

Nuff Said

Fri, 12/10/2010 - 11:36 | 795475 kaiserhoff
kaiserhoff's picture

Addiction is not always a bad thing.  Consider sex, Bordeaux wine, ZH...

Fri, 12/10/2010 - 11:21 | 795414 Trifecta Man
Trifecta Man's picture

Makes no sense to me.  'Splain it Lucy.

Fri, 12/10/2010 - 11:13 | 795387 Widowmaker
Widowmaker's picture

There is no room for both the rule of law and monetary policy that is not rigged.

... citizen, step over here so we can scan your crotch for change you can believe in.

Fri, 12/10/2010 - 11:12 | 795379 Waterfallsparkles
Waterfallsparkles's picture

Tell Bankers were to go.  Straight to Jail.  Do not pass go, do not collect $200.

Fri, 12/10/2010 - 11:09 | 795372 aleph0
aleph0's picture

That has been my motto since ca. 2006.

Since then .. everything in physical gold and silver.

 

Put them all on an desert island ...and let them "work to survive" for a change.

Or maybe that's being too kind ?

Fri, 12/10/2010 - 11:09 | 795371 Mr. Regression
Mr. Regression's picture

Sockeye, I too sold off all of my equity investments in early january 2010.  Not out of some sense of morality, rather because I could not (and still cannot) make any sense of the behavior of our equity markets.  This is after 30 years of stock market investing.

Reggie Middleton made an astute observation when he said something like "I'm not an optimist or a pessimist.....I'm a realist.".

I don't think that you need to stuff your money in a mattress though.  I still invest in short term corporates and hold a substantial position in GNMA's (which, by the way I'm watching very carefuly).  There are credit unions out there where you can park cash and get at least a little return.  Then of course there are the gold and silver folks if you're so inclined.

I'm not one of the bar the door and pass the ammunition guys.  That said it seems to me that we're well on our way to real class warfare.  It will be OK for awhile but I cannot see any way out for our country.  We lack the political will and the populace overall lacks the will as well.

Ugly..........and scary.

M. R.

Fri, 12/10/2010 - 11:00 | 795343 Bartanist
Bartanist's picture

Amen

Fri, 12/10/2010 - 11:08 | 795342 Waterfallsparkles
Waterfallsparkles's picture

Give Bankers Free Food and Shelter, In Jail, Not Bailouts.

Fri, 12/10/2010 - 10:53 | 795332 Revolution_star...
Revolution_starts_now's picture

Cut the parasites out, go as self sufficient as possible. Get out of the TBTF's, They need us, we do nlt need them. Don't do business with a multi national. They are all criminals.

I don't know if any of you will make it, but I am checking out. Invest? there is no such thing anymore, when they steal your savings with ZIRP, they remove any safe way to make money. So don't even bother.

I built a pond for fish and am gathering the animals for food, chickens pigs.

Screw this government and the banks that own it. I don't need them and will avoid them with my dollars every chance I get. Think I will raise my dependents on my W2 and just quit filing taxes.

 

I don't want nothing to do with this government, the multi national corporations, or these banks much less what used to be a "market".

FU Bernank

Fri, 12/10/2010 - 12:49 | 795769 cowdiddly
cowdiddly's picture

"We grow good ole tomaters and our own smoke too, ain't to many things these ole boys can;t do"  

"You can't stomp us out and you can't make us run, good old boys raised on shotguns"

 

"I'd like to spit some Beechnut in that dudes eye, and shoot him with my old .45"

 just can't quit humming this song lately.

                Hank Jr.

Fri, 12/10/2010 - 12:01 | 795550 RockyRacoon
RockyRacoon's picture

I'm basically with you.  Living should be at this level under any circumstances just for one's own sanity.

However, I'd like to know why it's necessary that the regular folks go back to the agrarian society level just because we've been screwed by a bunch of greedy bastards?

Their standard of living increases to the detriment of the majority of the people.

Fri, 12/10/2010 - 11:56 | 795539 QevolveQ
QevolveQ's picture

You have the right idea. This is exactly what everyone needs to do to make our voices heard...move ALL of your business away from the large money center banks now! If you need help finding a community bank or credit union, check out this site: http://moveyourmoney.info/  -- They have a great search tool. As for debts, do whatever you can to settle and stop paying the greedy bastards interest. If you have to stop paying for a couple months to get them to negotiate your rate lower, do it! Take no prisoners. These thieving scumbags would eat your grandmother for breakfast, stand up & show them you are f'ing pissed and not going to take it! Demand! Believe!

Fri, 12/10/2010 - 11:44 | 795505 littlebuddy
littlebuddy's picture

goddamn right.

distance from the system as much as possible, as much as can be managed, whatever it takes else it takes you down with it when it finally tanks.

Fri, 12/10/2010 - 10:53 | 795329 Sockeye
Sockeye's picture

I am already doing what you suggest here but I'm starting to feel pretty foolish with my cash position. I don't know if I can bear the scorn of family and friends much longer. It is my experience that not too many people seem willing to put their money where their mouth is when it comes to protesting bankster fraud.

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