williambanzai7's picture


I know all of you are hysterically excited as I am that the government has found a way to crack insider trading abuses by a big fat obnoxious hedge fund fat cat. I am also sure you are with me when I say that I am not going to join the parade celebrating the demise of this evil hedge fund witch. 

Yesterday's conviction will be touted as evidence that the government is really serious about fighting fraud on Wall Street.

Bull Shit!

We all know that Madoff, Rajaratnum and Lee Farkas the mortgage spinning psychopath can hardly be casted as the terminal financial virus that afflicts the central nervous system our economy.

As slimy and detestable as those three microbes are, they are peripheral. They not the killer beasts. 

What was true the day before yesterday, remains trues today, not a single one of the perpetrators responsible for causing Greenspan's "great tsunami" of subprime fraud has been indicted, let alone convicted.

I thought about this last night, and prepared this illustration using Thomas Nast's famous Fat Cats. 

I kept it very simple. You can see the basic message. See the FED in the background. Obscenely cheap fiat money led to voracious yield chasing free-for-all. Yes, Madoff swindled his gullible yield chasing clients. Yes Rajanutjob pushed his insider trading envelope in his desperate thirst to deliver some kind of Alpha to his sophisticated moron clients.

But fatso in the middle took systemic fraud to a whole new exponentially high extreme. Until he gets nailed, nothing gets fixed. It only gets worse.

I could go on, but I won't. 

I hope you will show this illustration to your family and friends as they are all subjected to today's expected dose of Wall Street/MSM propaganda spin.


"The two great lessons to draw from this epidemic of fraud is that if you don't look for it, you don't find it and that wherever you look, you do find it."

William K. Black







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falak pema's picture

"sorry we are corrupt" but that's how the cookie crumbles since 5000 years.

nah's picture


Smiddywesson's picture


Send Honeybunny after those bastards

falak pema's picture

with what your Remington type writer?

Hacked Economy's picture

Sorry, but I just don't see the intellectual value in just about anything William puts out there.  Photoshop skills?...perhaps...but nothing else to see here, as usual.  Move along, move along.

Last time I disagreed with William's point of view, he threw a tantrum and called me a douchebag.  Wonder what will happen this time?

williambanzai7's picture

You must have an awfully busy time leaving comments and messages everywhere letting everyone know what you don't like.

If you don't like what's in the window just walk past the store dopey.

velobabe's picture

i junked you. you are the bullshitter here. i don't think i have read in the last year or so, william going on a tantrum. it is not in his DNA, trust me. you are just jeolous of his various talents, and he can fill up a page with many different visualizes so he can reach a larger audience, likes of me, who is totally clueless to all things financial. so until i can see and visualize your story on something that would be appropriate on zerohedge. you are a loser i am sure. listen photoshopchopping is another skill, but you should see his photography taken all over the world. this person is a professional, and probably famous in his real world. unlike you probably aren't, me neither†

Hacked Economy's picture

Please refer to William's comment #1080646
 made to me on March 21.


"I sure as hell is glad someone done took care of this here cattle before I got here."  W


Ladies and Gentlemen--Douche Bag of the Week!

Not in his DNA, you say?  If you read the full thread, you'll see that I was having some good fun, and knew I was going to get junked.  No big deal...I allowed myself to be the punching bag that day and let others have their own fun at my expense.  But William apparently didn't like the fact that someone didn't appreciate his article (if you can call a bunch of photos an article) the way he wanted to be appreciated, so he reverted to schoolboy name-calling.  Very much beneath the dignity of a "professional" you make him out to be.

Your own response shows you to be of the same cloth.  No maturity, no professional fiber...nothing befitting of a true adult.  Oh well.  I can take the heat.  Can you??

Obviously not.

velobabe's picture

heat you say? you don't even make me sweat. that says a lot about me. why do you even comes to these posts, if you aren't interested in the content, only to put them down? my mother told me if you can't say something nice to someone in regards to what they are stating or writing then shut the fuck up^

williambanzai7's picture

Now that you've been here for 9 weeks and 2 days you still have not changed.

velobabe's picture

"The two great lessons to draw from this epidemic of fraud is that if you don't look for it, you don't find it and that wherever you look, you do find it."

William K. Black

banzai, i am glad you put this quote in from this most wonderful american man. he has such a soft voice, and his pitch is so calming. he should get more air time, so people like me that are clueless can hear the truth from a person, and try to understand. i looked at all my loan docs, after i read this advice on the blog living lies. he stated to first start with the HUD closing doc. then use it sorta like an opening introductory to a short novel, some thing like that. i could identify all the fraud but couldn't get an attorney to act upon these hard facts of fraud, occurring to me. we are so fcked†

sgt_doom's picture

Unfortunately, velobabe, the problem with Mr. Black, whom I am not criticizing here, is that like so many other honest and rational people, he is ripositing against one of those thousands points of confusion, instead of fully absorbing the big picture -- which you sound like you get!

R.T. Naylor, the Canadian social economist, took issue with Mr. Black, because Black was just stating that the SEC is corrupt when, as Prof. Naylor correctly pointed out, the entire system is absolutely corrupt, i.e., America is a completely fraud-based society today.

Wherever one looks, there be corruption!  And I would say it hasn't always been that way, more like concentrated pockets of corruption, but today far too many Americans are beset by a fraudster mindset, when they read in the Corporate Non-media everyday that "everybody's doing it" -- etc., etc.

Is there anyone in middle and senior management in the Dept. of the Treasury who hasn't once worked for Goldman Sachs?

Has Obama appointed anyone (or Bush, or Clinton, or Bush, or Reagan, or Carter, or Nixon) who isn't a bankster, Wall Street lobbyist, pharmaceutical industry lobbyist, etc.?

Is every ostensibly "progressive" organization out really for the people, or just another scamming stealth outfit for the rich (Free Press -- -- comes immediately to mind, supported by the Benton Foundation, and frequently citing the Benton Foundation's agenda as the "news" -- that's where you'll find the partners and attorneys from the super-rightwing law firm that successfully defended Rupert Murdoch's Fox News, in several separate legal cases, when they fictionalized their "news."  (Today, ergo, it is now "legal" to fictionalize the "news" in Amerika!)

Also, at Benton one will find one or more of the architects of Clinton's Telecommunications Act, the final consolidation legislation to give full control to the corporations.

(1963 -- over 600 companies controlled the media.  2011 -- offically, only 5 companies control the bulk of the so-called media, but those 5 corporations are so financially-interlocked, and involved with the same structured finance loans from the same two banks, that for all intents and purposes, only two, or one, corporation really controls the so-called media in Amerika!)

And, in 1988, there were 46 Primary Dealers (the upper level of the powers-that-be in the world of central banking, i.e., the Fed), while today there are just 16 Primary Dealers.

The end game of the Great Consolidation is simply one world corporation, me thinks!

And Amerika?  Simply the target of one single colossal leveraged buyout.

sgt_doom's recommended reading list:

The Rich and Super-Rich, by Ferdinand Lundberg

The Predator State, by James K. Galbraith

Treasure Islands, by Nicholas Shaxson

Trade, Development and Foreign Debt, by Michael Hudson

Wall Street Capitalism: A Theory of the Bondholding Class, by E. Ray Canterbery

The Road Through 2012: Revolution or World War III, by David DeGraw

Brothers: The Hidden History of the Kennedy Years, by David Talbot

Death of the Liberal Class, by Chris Hedges


Dark Age Ahead, by Jane Jacobs

The Handmaid's Tale, by Margaret Atwood (fiction, but extremely pertinent to our times) 


velobabe's picture

well thank you very much for your in depth reply. i still like mr black and his truth telling about the corruption. i don't do book reading very good. i recognize some of the authors in your list, i am sure i would enjoy reading these books, especially mr hedges. but you enjoy the rest of the day sarg :- >

citta vritti's picture

Interesting interview 20110510 on NY1 w/ ex D.C. schools chief Michelle Rhee

As background to why teachers’ union there agreed to some merit review, she explained that 92% of eighth graders there were below grade level in math or english or you name it, while "95% of the adults in the system” thought they (the adults) were doing a good job.

Heaven help us. I do hope these are just unexpected consequences and not policy (shades of slave owners outlawing literacy for slaves), though Idiocracy is looking more and more like the outcome. 

SoNH80's picture

D.C. is the apex, the acme, the quintessence of what is going wrong in America.  They spend more per pupil than any other jursidiction in America, and yet the roofs of the schools leak, and the TEACHERS are often functionally illiterate.  I urge all Zero Hedgers to spend a month in Metro D.C., watch the T.V., read the papers, travel the streets on foot and in a car, and weep for our future.  The corruption at all levels, from Bernanke's office down to the street corner crackhead, is obscene beyond belief.  And again, lack of FRN's is NOT the problem.  Everything else is.

breezer1's picture

"you're only as honest as you can afford to be". Lenny Bruce. RIP.

nmewn's picture

I would add...without government debt issuance, the Fed could not feed the bonfire of ethics.

And on the subject of ethics, lets not forget the ex-Goldman board member who fed Raj info and all the rest who still do so. Without them there can be no insider trading.

The rot is deep.

Cognitive Dissonance's picture

I brought my fishing waders just in case it comes up to my waist. But anything deeper and I'm in big trouble.

nmewn's picture

LOL!...good one.

Edit: As an aside, we all know Raj is gonna jump bail right?...20 mill against a billionaire facing some serious jail time is the equation under consideration here...G5 all gassed up Raj, where to?

Pretty pathetic.

Cognitive Dissonance's picture

The great thing about small private jets is that there are so many ways around passport control.....including little out of the way airports that are happy to accept the $100 landing fee in cash.

"What G5? I didn't see no G5. I was taking a nap with Joe in the control tower."

SoNH80's picture

Ecuador, Bolivia, etc. etc. take your pick.  Ecuador officially doesn't give a shit about who crosses its borders, and I hear that they have a warm climate.

Cognitive Dissonance's picture

Particularly if you're bringing lots of money to spend.

Justice is regularly blinded by money in large quantities. My only hope is that America soon becomes enough of a banana republic that we can attract some of those escapees back to our shores. I can just see the marketing campaign now.

Repatriating the bad guys is good for Amerika. :>)

SoNH80's picture

Sort of like how London is the playground for the Russian oligarchs that bought Soviet gov't. enterprises for pennies on the ruble.. (Oh, here old comrade, buy this refinery for $250,000 in borrowed money....).  I can see it now, "Come home to Westchester County!  Our serfs are eager to please, and your hydrofoil can dock along the absurdly polluted Hudson!" lol

chunga's picture

Three down -- ten thousand to go.

Duuude's picture


Ah wanna see tha Squid an tha Lizard ascrewin



Coldfire's picture

A composite of TRuTh CLoWn BLaNkFeIN riding LuGuBriOuS HoG BlAnKfEiN would be a peak experience.

Moe Howard's picture

We need a plastic version of the sorry sign to put in TBTF bank windows.