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The Farce Must Go On: Senate Suddenly Furious With Eric Holder For Allowing Banks To Become "Too Big To Jail"

Tyler Durden's picture




 

Or what happens when Wall Street Muppet A is vewy, vewy angwy with Wall Street Muppet B and desperately needs a ratings boost.

* * *

Straight from the best Senate Wall Street taxpayer bailout money and Fed excess reserves (by way of deficit monetization) can buy:

Sens. Brown, Grassley Press Justice Department On "Too Big To Jail"

Senators Question Whether “Too Big to Fail” Status of Some Wall Street Megabanks Undermines Government’s Ability to Prosecute Large Financial Institutions, Impose Appropriate Penalties

Tuesday, January 29, 2013

WASHINGTON, D.C. – U.S. Sens. Sherrod Brown (D-OH) and Chuck Grassley (R-IA) sent a letter today to U.S. Attorney General Eric Holder questioning whether the “too big to fail” status of certain Wall Street megabanks undermines the ability of the federal government to prosecute wrongdoing and impose appropriate penalties.  They also requested that the Justice Department disclose the identities of parties with whom prosecutors consult about the appropriate level of penalties for financial institutions.

“Wall Street megabanks aren’t just too big to fail, they’re increasingly too big to jail,” Brown said. “Already, the nation’s six largest megabanks enjoy what amounts to taxpayer-funded guarantee by virtue of their size, making it harder for regional and community banks to compete. Now, these megabanks may also enjoy some impunity when they violate the law by laundering money or illegally foreclosing on homeowners.  Wall Street should pay the full price of its wrongdoing, not pass the costs along to taxpayers.”

“The best deterrent to crime is to put people in prison,” Grassley said.  “That includes those at powerful banks and corporations.  Unfortunately, we’ve seen little willingness to charge these individuals criminally.  The public deserves an explanation of how the Justice Department arrives at these decisions.”

Brown, who chairs the Senate Banking Subcommittee on Financial Institutions and Consumer Protection, is the author the Safe, Accountable, Fair & Efficient (SAFE) Banking Act, legislation that would prevent any one financial institution from becoming so large and overleveraged that its collapse could put our economy on the brink of collapse or trigger the need for a federal bailout. He also passed legislation with Sen. David Vitter (R-LA) to requiring the Government Accountability Office to study how banks with assets of $500 billion or more benefit from the belief that the government would not let them fail in a crisis.

As Ranking Member of the Judiciary Committee, Grassley has been critical of the Justice Department’s decisions against holding people criminally accountable in financial cases.  He called the Justice Department’s decision to forego any criminal prosecution of HSBC officials involved in that money laundering scandal inexcusable.  And he has questioned the Justice Department about the number of mortgage fraud cases brought forward, revealing a failure to bring significant criminal cases against any of the major banks or financial institutions that have faced civil actions for various frauds. Grassley is the author of the Fraud Enforcement Recovery Act, signed into law in 2009, that was designed to ramp up the government’s response to the crisis and ensure that prosecutors and investigators had the tools needed to combat fraud.

The full text of the letter from Brown and Grassley to Holder can be found below.

January 29, 2013
The Honorable Eric H. Holder, Jr.   
United States Attorney General
U.S. Department of Justice
950 Pennsylvania Avenue, N.W.
Washington, D.C. 20530

 

Dear Attorney General Holder:

 

The large number of private and government lawsuits since the global financial crisis continues to undermine public confidence in our financial markets.  This confidence can only be restored by demonstrating that there are consistent rules in place that provide accountability for wrongdoing and deter financial predators.

 

Unfortunately, many of the settlements between large financial institutions and the federal government involve penalties that are disproportionately low, both in relation to the profits which resulted from those wrongful actions as well as in relation to the costs imposed upon consumers, investors, and the market.

 

The nature of these settlements has fostered concerns that “too big to fail” Wall Street banks enjoy a favored status, in statute and in enforcement policy.  This perception undermines the public’s confidence in our institutions and in the principal that the law is applied equally in all cases.

 

On settling with Swiss Bank UBS for Libor manipulation, for example, you said, “[t]he impact on the stability of the financial markets around the world is something we take into consideration.  We reach out to experts outside of the Justice Department to talk about what are the consequences of actions that we might take, what would be the impact of those actions if we want to make particular prosecutive decisions or determinations with regard to a particular institution.”

 

In an interview with Frontline, outgoing Assistant Attorney General Lanny Breuer defended the Department of Justice’s inability to prosecute large financial institutions by saying, “but in any given case, I think I and prosecutors around the country, being responsible, should speak to regulators, should speak to experts, because if I bring a case against institution, and as a result of bringing that case, there’s some huge economic effect — if it creates a ripple effect so that suddenly, counterparties and other financial institutions or other companies that had nothing to do with this are affected badly — it’s a factor we need to know and understand.”

 

These statements raise important questions about the Justice Department’s prosecutorial philosophy.  In order to explore the Justice Department’s treatment of potential criminal activity by large financial institutions, please answer the following questions and provide the following information:

 

1. Has the Justice Department designated certain institutions whose failure could jeopardize the stability of the financial markets and are thus, “too big to jail”?  If so, please name them.

 

2. Has the Justice Department ever failed to bring a prosecution against an institution due to concern that their failure could jeopardize financial markets?

 

3. Are there any entities the Justice Department has entered into settlements with, in which the amount of the settlement reflected a concern that markets could be impacted by such a settlement?  If so, for which entities?

 

4. Please provide the names of all outside experts consulted by the Justice Department in making prosecutorial decisions regarding financial institutions with over $1 billion in assets.

 

5. Please provide any compensation contracts for these individuals.

 

6. How did DOJ ensure that these experts provided unconflicted and unbiased advice to DOJ?

 

Our markets will only function efficiently if participants believe that all laws will be enforced consistently, and that violators will be punished to the fullest extent of the law.  There should not be one set of rules that apply to Wall Street and another set for the rest of us.

 

Thank you for your cooperation and attention in this matter.  We would appreciate a response by February 8, 2013.  If you have any questions, please do not hesitate to contact Graham Steele for Senator Brown at (202) 224-2315 or Chris Lucas for Ranking Member Grassley at (202) 224-5225.

 

Sincerely,

Sherrod Brown                                                  Charles E. Grassley

Chairman                                                        Ranking Member

Banking Committee,                                          Judiciary Committee

Subcommittee on Financial Institutions

and Consumer Protection

 

Don't make the muppets angry. You won't like them when they're angry.

 

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Tue, 01/29/2013 - 19:50 | 3196852 buzzsaw99
buzzsaw99's picture

Dog and pony show.

Tue, 01/29/2013 - 19:55 | 3196876 Tsar Pointless
Tsar Pointless's picture

Ooh! Ooh! Can I have the pony when the show is over?

Tue, 01/29/2013 - 20:03 | 3196909 centerline
centerline's picture

At least when the show is over we can eat the pony.  I'll bring the BBQ sauce.

Tue, 01/29/2013 - 20:11 | 3196932 IridiumRebel
IridiumRebel's picture

Whopper! Flame broiled horse!

Tue, 01/29/2013 - 20:19 | 3196973 Unprepared
Unprepared's picture

Yeah, each eat their favorite animal*

 

*that would be said animals' genitalia for you Hold'er.

Tue, 01/29/2013 - 19:55 | 3196854 Albertarocks
Albertarocks's picture

"U.S. Sens. Sherrod Brown (D-OH) and Chuck Grassley (R-IA) sent a letter today to U.S. Attorney General Eric Holder questioning whether the “too big to fail” status of certain Wall Street megabanks undermines the ability of the federal government to prosecute wrongdoing and impose appropriate penalties."

THEY HAD TO ASK?  HOW OLD ARE THEY...6?  Jesus Christ gentlemen, step up to freaking plate and lay a beating on somebody already.

Tue, 01/29/2013 - 22:59 | 3196919 buzzsaw99
buzzsaw99's picture

The senator for the law firms and the senator for the uh, insurance companies, and um bankers, want to know how this shit happened. :whatever:

Tue, 01/29/2013 - 20:21 | 3196977 NoDebt
NoDebt's picture

Well said.

Won't happen, of course, but still well said.

Kind of talk I recall coming out of my own mouth before I started taking my government-recommended crazy pill every day.  It doesn't hurt any more since I started taking them.

 

Tue, 01/29/2013 - 19:51 | 3196857 jomama
jomama's picture

LOLOLOLOLOLOLOLOL

luckily for (them), most americans really are that stupid.

Tue, 01/29/2013 - 19:51 | 3196858 TrustWho
TrustWho's picture

Blind Justice is the theory that law should be viewed objectively with the determination of innocence or guilt made without bias or prejudice. It is the idea behind the United States Supreme Court motto “Equal Justice Under Law” and is symbolized by the blindfolded statue of Lady Justice which is the symbol of the judiciary.

I do not believe Attorney General Holder cares about Blind Justice, so Fuck you bernanke, dimon, loydfein etc too!

Tue, 01/29/2013 - 20:13 | 3196944 NotApplicable
NotApplicable's picture

Nope, he's obviously peeking.

Wed, 01/30/2013 - 07:03 | 3198094 css1971
css1971's picture

Jeez, all he did was take the blindfold off so Justice could see better.

Tue, 01/29/2013 - 19:53 | 3196866 joego1
joego1's picture

Bark bark bark......

Tue, 01/29/2013 - 19:55 | 3196873 f16hoser
f16hoser's picture

Honestly, I forgot we had a Senate. Representatives and Judicial branch too , for that matter. Lock and Load gentleman. DHS and the Chinks are coming.

Tue, 01/29/2013 - 19:55 | 3196874 Cult of Criminality
Cult of Criminality's picture

And Eric,about that fast and furious thing...

Was fast and furious refering to, how to cover up the documented case of you giving weapons to murderers?.Seems nothing has come of it .

What about the law applying to you and the administration for accelerating the crimes in America and worldwide?

If none of you pussies that stand behind your armed guards and towers are comfortable in this republic, why do you not go to North Korea or Venzuela,Cuba .Why stay where you are not wanted and not happy. You should be in prison yourself.

Tue, 01/29/2013 - 23:48 | 3197680 Curiously_Crazy
Curiously_Crazy's picture

North Korea, Venzuela and Cuba have entry requirements ;)

Tue, 01/29/2013 - 19:56 | 3196878 dick cheneys ghost
dick cheneys ghost's picture

''I always wanted to be a Banker''

Tue, 01/29/2013 - 19:57 | 3196883 jplotinus
jplotinus's picture

Better late than never, perhaps?
Better little than nothing at all, maybe?

Chances are, if anything is to happen, it'll be because the people do it themselves.

Tue, 01/29/2013 - 20:16 | 3196952 NotApplicable
NotApplicable's picture

With that Hopium quiver in your voice, you sound like the type that would whitewash the fence for poor ol' Tom Sawyer.

Just sayin.

Tue, 01/29/2013 - 19:59 | 3196887 orangegeek
orangegeek's picture

The solution is to replace Bernanke with Bernie Madoff.

 

We'll finally get some consistent and predictable results.

Tue, 01/29/2013 - 19:59 | 3196892 booboo
booboo's picture

Dear Senators: In response to your letter, may I remind you that Our Fuhrer Heir Obama can place your names on a kill list tonight and you will cease to exist by morning, I suggest you step back away from your demands or I will be forced to place you and your families names on the Kill List.

Always at your service, (what ever church they may hold it at)

Field Marshall Holder

Tue, 01/29/2013 - 21:45 | 3197288 Vendetta
Vendetta's picture

they're all on the same team, they just play opposing teams when the camera's and microphones are on.

Tue, 01/29/2013 - 22:34 | 3197464 hooligan2009
hooligan2009's picture

Drone on (to your head!)

Tue, 01/29/2013 - 20:03 | 3196899 IridiumRebel
IridiumRebel's picture

"The large number of private and government lawsuits since the global financial crisis continues to undermine public confidence in our financial markets."

Nobody believes this market. People are scared of it. I am. I am going for tangible assets. They can pretend and extend and fuck unicorns til purple skittles shit out their ass......
Everyone knows its all rigged and is staying out of this charade. It makes everything seem fake. The media, the policy makers and money changers are untrustworthy schmucks. I hope everyone turns on them. The market will have its day. Why do you think they are conducting chopper dropper exercises in LA/MIA/HOU? They knows that when these people wake up, THEY ARE GONNA BE FUCKING PISSED. Me? I'll be in the country with the family or worse comes to worse LEAVING.

Tue, 01/29/2013 - 20:22 | 3196987 Rusty Shorts
Rusty Shorts's picture

- speaking of chopper dropper, I saw, umm, at night....no lights, umm nevermind...and I'm nowhere near any of those places..

Tue, 01/29/2013 - 20:30 | 3197015 Rusty Shorts
Rusty Shorts's picture

Ok, I'm not believeing this shit, they just came over again...WTF??? I'm way out in the sticks here.

Tue, 01/29/2013 - 20:51 | 3197081 IridiumRebel
IridiumRebel's picture

I don't wanna show my hand, but short of a nuclear explosion on the farm, we will make it.

Long Horses

Tue, 01/29/2013 - 20:02 | 3196904 Dr. Engali
Dr. Engali's picture

Sounds like they are edging closer to nationalizing the banks to me. Too big to fail? To big to prosecute? Well then our only resort is to nationalize them and put our " pure as the wind driven snow" friends in charge.

Tue, 01/29/2013 - 20:02 | 3196905 Cult of Criminality
Cult of Criminality's picture

Mayor Bloomberg

You can get the fuck out of here too along with your Ilk and Minions.

Tue, 01/29/2013 - 22:32 | 3197455 nmewn
nmewn's picture

Here's a good one on our favorite midget dictator Bloomie...

"In the video, Bloomberg is seen surrounded by security. Mattera approaches Bloomberg and asks, “In the spirit of gun control, will you disarm your entire security team?”

 

Bloomberg’s reply: “Uh, you, we’ll get right back to you.”

 

“Why can you defend yourself but not the majority of Americans?” Mattera asks as the mayor walks away. “Look at the team of security you’ve got. And you’re an advocate for gun control?”

 

The video then cuts to Mattera walking further down the street when one of the men guarding Bloomberg, identified as Officer Stockton NYPD, stops Mattera and asks to see his photo ID.

 

Mattera complies before asking, “Is this standard procedure for the press? Wait, wait, wait, it’s standard procedure to be questioning members of the press?

 

The officer reaches inside his jacket and grabs a pen, as if to write down the journalist’s name. “You’re going to write it down now?” asks Mattera. “Oh, no, sorry,” says Officer Stockton."

http://www.breitbart.com/Big-Journalism/2013/01/28/EXCLUSIVE-Journalist-Accosted-By-Security-Over-Mayor-Bloomberg-Gun-Control-Question

When the First & Second Amendments collide ;-)

Tue, 01/29/2013 - 20:04 | 3196910 Goldilocks
Tue, 01/29/2013 - 20:04 | 3196914 XitSam
XitSam's picture

I'm shocked. Shocked. To find that gambling is going on in here.

Your winnings, sir.

Oh, thank you very much.

Tue, 01/29/2013 - 20:07 | 3196915 Cult of Criminality
Cult of Criminality's picture

Honor.... among ..thieves is what it means to them.

Tue, 01/29/2013 - 20:09 | 3196925 The Heart
The Heart's picture

Shucks.

Clicked on the article and alas, no muppets judges cartoon scene to watch.

Might have been far more entertaining than all the real puppet people shows.

Om Shalom.:.

 

Tue, 01/29/2013 - 20:24 | 3196990 MrSteve
MrSteve's picture

Just envision the Federal Eagle saying "Hrrruummph- NO!" and you get the flavor of the whole charade. Where have these small-s senate clowns been since 2007 ? Not representing the voters, that's for sure.

Tue, 01/29/2013 - 20:12 | 3196940 q99x2
q99x2's picture

Holder got promoted into that position because of his cover-up of Oklahoma City. Its a gang of thugs in DC and what they are doing is dangerous to everyone including the elite because even with total control over the population once the system becomes unstable there is no certainty as to the outcome. The DC people must also be feeling the fear being brought on by the banksters. When the society goes down this path no one is safe.

Tue, 01/29/2013 - 20:21 | 3196979 NotApplicable
NotApplicable's picture

While control is never absolutle, they ensure certainty of outcome by eliminating sustainable/feasible alternatives. This is accomplished by breaking things the way they like, before it has the chance to collapse on its own.

And if it doesn't work? Why there's always more stuff to break to create further obfuscating distractions.

Tue, 01/29/2013 - 20:12 | 3196941 ebworthen
ebworthen's picture

This from the CLOWNS who voted for the Bailouts, N.D.A.A., and the Fiscal Cliff "deal".

Un-fucking-repentent lying scumbag sacks of shit.

Hey boys!  Jon Corzine?

Worms.

Tue, 01/29/2013 - 20:13 | 3196943 spinone
spinone's picture

Fucking HA!  The only reason anyone would bring this up in the Senate is because its a sure thing it won't happen.

 

Honorable Senator my ass.

Tue, 01/29/2013 - 22:12 | 3197388 MayIMommaDogFac...
MayIMommaDogFace2theBananaPatch's picture

My-Ass

I think the senator capitalizes and hyphenates his odd last name.

Wed, 01/30/2013 - 15:18 | 3199708 Clashfan
Clashfan's picture

I thought MyAss was a corporation or person involved in the Enron scandal?

Tue, 01/29/2013 - 23:29 | 3197632 Ms. Erable
Ms. Erable's picture

You talkin' 'bout the same boatload-of-assclowns Senate that just confirmed JFK (John Fucking Kerry, not the other one) as SecState?

Partial hangings and evisceration for the lot, I say!

Tue, 01/29/2013 - 20:16 | 3196957 Rusty Shorts
Rusty Shorts's picture

The silent Stock Market Crash of 2000 - 2006;

 

..the U.S. dollar from 2000-2006 to the euro $0.75 to $1.60, the U.S. dollar crashed from 2000-2006 oil from $10 to $160, gold from $245 to $1200. The greatest wealth loses in world history > as U.S. Military coup happened. FACT, FACT, FACT. - Kevin Blanch

Tue, 01/29/2013 - 20:23 | 3196989 NotApplicable
NotApplicable's picture

Wait... exactly when did the military coup replace the bankster's Coup of 1913?

I'm not seeing it.

Tue, 01/29/2013 - 20:32 | 3197018 Rusty Shorts
Rusty Shorts's picture

Ask this guy, I was quoting him...

 

http://www.youtube.com/watch?v=iXFS0cuOYpg

Tue, 01/29/2013 - 20:16 | 3196958 Bunga Bunga
Bunga Bunga's picture

They will grill some officials on the hill, so that sheeples think, juctice works when it doesn't.

Tue, 01/29/2013 - 20:18 | 3196967 IamtheREALmario
IamtheREALmario's picture

Maybe it is just another ruse... or

Maybe the Congress Critters are starting to realize that they are an endangered species and that the money they have been accepting to make their life easier is just bait fattening them up for slaughter.... just as the money the Federal government gives the states and special projects, which is too attractive to pass up (but costs the banks and Federal government absolutely nothing because they print the stuff) is designed to make them dependent slaves with a debt they can never repay (it is designed to be).

There are alway those who sell out their people for personal gain. However, I believe that when it is time, their lifestyle choice will not benefit them. They know too much and have too much support for a dictator to keep them around.

Myabe it is too late to stem the misallocated flow of free fiat and to start reconstructing the productive capacity and rightful government of the country ... I do not know.

Tue, 01/29/2013 - 20:18 | 3196968 Seasmoke
Seasmoke's picture

What does Eric Holder even do ? And why does it always look like he is looking at 2 people at the same time ?

Tue, 01/29/2013 - 20:24 | 3196992 IamtheREALmario
IamtheREALmario's picture

To me it always looks as if Holder feels shame for the job he feels that he is forced to do. He looks like a trapped animal.

Tue, 01/29/2013 - 20:25 | 3196999 Unprepared
Unprepared's picture

The other advantage of a chameleon is camouflage. Anybody seen Colin Powell?

Tue, 01/29/2013 - 23:58 | 3197701 CoolBeans
CoolBeans's picture

Now THAT was funny.

Tue, 01/29/2013 - 20:22 | 3196976 IamtheREALmario
IamtheREALmario's picture

Maybe impeaching Holder is the solution....

... if he will not start prosecuting clear criminals, such as Corzine and go after the banking syndicate with criminal charges.

Holder's duty to the country and its people should not be optional.

Tue, 01/29/2013 - 20:27 | 3197002 NotApplicable
NotApplicable's picture

There are no such things as political solutions, only political problems.

Please step away from the Hopium.

Tue, 01/29/2013 - 20:36 | 3197040 IamtheREALmario
IamtheREALmario's picture

Well then maybe Obummer will give up Holder to Congress in a deal which solidifies his control over them.

Tue, 01/29/2013 - 21:19 | 3197197 bunnyswanson
bunnyswanson's picture

More likely, these politicians do not want history to record them as sitting silent with the banker's dick up their ass while they fleece the entire nation to the point of collapse. 

This moment will be recorded in a 4 sentence paragraph and then they will be vindicated (after all information is erased from internet stating otherwise).

 

Tue, 01/29/2013 - 20:21 | 3196980 azengrcat
azengrcat's picture

Must be long AAPL and running low on Bollinger.

Tue, 01/29/2013 - 20:23 | 3196988 freon guy
freon guy's picture

Anonymous threatening the DOJ to make reforms..  Aaron Swartz's father making statements how bankers ruining the country get off scott free.  Coincidence? 

Tue, 01/29/2013 - 20:24 | 3196995 NotApplicable
NotApplicable's picture

So... you're saying that CIA psyops are underway in an effort to lockdown the net?

Check.

Tue, 01/29/2013 - 20:30 | 3197016 French touche
French touche's picture

A.EINSTEIN said : American have never known civilization they are passed directly from barbarism to decadence - I always thought he was wrong but now I'm starting to have serious doubts

Wed, 01/30/2013 - 02:04 | 3197925 Ropingdown
Ropingdown's picture

And what did Albert think of the Germans?  Was that decadence they passed to?  Did he even do any good physics after the age of thirty?  Was he a decent husband and father?  Who cares what Albert though, outside of his early excellent papers in Physics?

Tue, 01/29/2013 - 20:33 | 3197020 loveyajimbo
loveyajimbo's picture

Well, this idiot is the Chairman, yes???  How about some referrals for prosecution??  How about starting with Fast and furious, sue to unseal the dirt and nullify the kenyan dictator's exec order... Blankfein and Abacus, Dimon and the silver manipulation... for starters... but you will have to jail the corrupt Gensler and Schapiro too...

Tue, 01/29/2013 - 20:33 | 3197025 Benjamin Glutton
Benjamin Glutton's picture

send the Senators a free subscription to Zero Hedge...better yet let's all pitch in a few bucks and PAY them to read some useful news.

Tue, 01/29/2013 - 20:34 | 3197027 knowless
knowless's picture

no see cause, monopolies are totally fine economically tbtf was enouhg to enforce that concept. tbtj is just like, redundant and stuff, psish. what are you even talking about? jeez, shutup.

Tue, 01/29/2013 - 20:36 | 3197037 Atomizer
Atomizer's picture

Let’s start with the basics

CEO of JPMorgan says you don’t need to know how banking works

 

Now we can move to the $155 million in humanitarian efforts with Syria.

http://www.undispatch.com/usa-pledges-155-million-to-syrian-humanitarian-efforts

 

All is so noble until this bit surfaces… LOL

Saudi Arabia Sent Death Row Inmates to Fight in Syria in Lieu of Execution

http://www.aina.org/news/20130120160624.htm

 

The MSM must start spinning more gun shootings to avoid the taxpayer money trail exposure.

Tue, 01/29/2013 - 21:36 | 3197258 ziggy59
ziggy59's picture

U.S. 'backed plan to launch chemical weapon attack on Syria and blame it on Assad's regime'
Leaked emails from defense contractor refers to chemical weapons saying 'the idea is approved by Washington'
Obama issued warning to Syrian president Bashar al-Assad last month that use of chemical warfare was 'totally unacceptable'

http://www.dailymail.co.uk/news/article-2270219/U-S-planned-launch-chemi...

Tue, 01/29/2013 - 20:40 | 3197048 Room 101
Room 101's picture

The Senate doing it's rendition of Capt. Renault.

Tue, 01/29/2013 - 21:09 | 3197157 Atomizer
Atomizer's picture

Anyone with a higher IQ can see the Edward Bernays test bed on conforming under peer pressure acceptance. Let’s use Apple iPhone conformance as a recent example.

 

Captain Kangaroo (Attack of the Ping Pong Balls 10-27-1976)

Elvis Presley (You're So Square) Baby I Don't Care - 1957 < --- All lemming must be hip & jump on board to purchase the latest cool item, or you’re a SQUARE!

 

Edward Bernays – Century of Self

Tue, 01/29/2013 - 20:44 | 3197056 ebworthen
ebworthen's picture

Imagine if the Founding Fathers had decided to just send a letter to King George asking him to please be nicer in his Kingly duties.

Tue, 01/29/2013 - 21:27 | 3197230 Vendetta
Vendetta's picture

essentially that is what the DoJ has done with the corrupt and fraud ridden financial sector.

Tue, 01/29/2013 - 20:44 | 3197057 giorgioorwell
giorgioorwell's picture

Eric Holder is alive?

Tue, 01/29/2013 - 22:15 | 3197398 yogibear
yogibear's picture

 The useless POS only comes in for special appearances. 

Tue, 01/29/2013 - 20:44 | 3197063 Westcoastliberal
Westcoastliberal's picture

What the hell!  It takes a "Frontline" documentary to wake these guys up?  Where were they 5 years ago when all this shit started going down? I want to see (Place) Holder's answers.

Wed, 01/30/2013 - 10:36 | 3198590 kwality
kwality's picture

They were at the beginning of the SOL.  They want to whip people up now so that they are demanding that the banks fail, and thus have an excuse for depression to come.   

Tue, 01/29/2013 - 20:52 | 3197080 monad
monad's picture

The Honorable Eric Hachetman Holder, fall guy for hire. Will take blame for food.

 

Tue, 01/29/2013 - 21:15 | 3197185 smartstrike
smartstrike's picture

I vote for plane accident, but I'll settle for heart attack in a jacuzzi.

Tue, 01/29/2013 - 22:20 | 3197412 ljag
ljag's picture

I like the "baby harp seal" approach

Tue, 01/29/2013 - 20:55 | 3197096 Freedumb
Freedumb's picture

The constant harping on about criminal penalties serving as the most effective deterrent is bullshit, and that would be the case even if each individual banking scandal resulted in numerous imprisonments. Though admittedly, criminal penalties would be more effective as a deterrent if more people would actually go to jail. But invariably these criminal penalties have only resulted in a few suckers (a/k/a the fall guys) doing a few years in jail -- suckers who probably didn't really matter to their respective organizations anyway. The real power brokers in financial institutions are more than capable of isolating themselves enough from the daily operations of their firms to make it nearly impossible to establish an evidence trail leading back to them. Though there should be more imprisonments, no doubt.

The real way to deter abusive/fraudulent/criminal activity in the financial sector is (1) imposing penalties which are at the very least equal to whatever the actual damage caused was and preferably more (all these bankers care about is their money, hit them where it hurts), (2) scrapping any notion of refusing to impose any penalty that would jeopardize the ability of the guilty firm's ability to remain a going concern (if they're only not bankrupt because, e.g., they have been financing embargoed countries and defrauding seniors, why the hell would we still give consideration to whether a fine would bankrupt them?) , (3) rolling back the ridiculous "whistleblower" concessions which seem to cut everyone's fines down to a pittance except for the very last institution to fess up, and (4) more funding for regulatory bodies, though I am terrified at what our defunct regulators would do with more money given how incompetent they are, so I say this with reservations.

Tue, 01/29/2013 - 21:12 | 3197170 Absinthe Minded
Absinthe Minded's picture

Another bullshit false flag. Who's insider trading now that they're trying to stir shit up and hide?

Tue, 01/29/2013 - 21:25 | 3197218 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Prison terms even if only at club fed along with permanent ban from working in the industry are far more effective than fines. Monetary fines are an absolute joke when you are in the TBTF club like Goldman Sachs and JP Morgan. Govt. fines them, the Federal Reserve is just going to backstop the money with the printers anyways with net zero effect to the banks. It is a sideways monetization of debt for the Treasury.

 

 

Tue, 01/29/2013 - 22:22 | 3197423 AllWorkedUp
AllWorkedUp's picture

"more funding for regulatory bodies, though I am terrified at what our defunct regulators would do with more money given how incompetent they are, so I say this with reservations."

 You're kidding right? More money always works so well, just ask the education system. How about firing the fucks that are working there right now and cutting their budgets. Giving jobs to people intent on prosecuting.

Tue, 01/29/2013 - 22:37 | 3197473 Freedumb
Freedumb's picture

I completely agree that it'd be ridiculous to give the SEC et al more funding in the current state they're in. I guess what I was trying to say was in the context of going up against TBTF banks who, in the face of massive fines, would presumably be willing to spend tens of millions in legal fees burying the regulators in documents, motions and an unending series of expert witness testimony. Regardless of anything you do in trying to fix this system you're going to need to drop a ton of cash on hiring enough lawyers / expert witnesses if you want to do an adequate job litigating against the banks. Fixing our justice system is a whole different can of worms....

And re your comment Dewey, yeah the track record suggests the Fed will just backstop all the TBTF banks in the face of regulatory action so if that is how things will be going forward then I agree fines are pointless. I'm saying that we need more fines that completely put banks out of business though, which many of them should have been given the amounts of money involved in much of the illicit activity that has been continually going on. Wouldn't you agree that signaling a willingness to put banks into bankruptcy via aggressive fines would work as a better deterrent than jailing people?

Wed, 01/30/2013 - 01:50 | 3197916 Tall Tom
Tall Tom's picture

Really what can a law deter? Nothing.

 

When I drive and break the Speed Limit, which I do, I am not thinking about the fine if I am caught. I am thinking about getting to my destination. It does not matter to me if I am driving 10 mph over the limit or 20 mph. I do not even bother to watch my speed. If I am caught I pay the fine as it is a cost of doing business.

 

I guess that I am psychopathic when it comes to speeding because I do that and have absolutely no remorse.

 

However if I hurt someone else then I will lose sleep...a lot of sleep. If I were to steal I do not think that I can live with myself. Killing another??? I would rather commit suicide unless it were justified by self defense or in defense of another.

 

Laws provide PENALTIES for being caught violating them...NOTHING MORE...NOTHING LESS. Laws and penalties do not prevent or deter behavior. They provide PENALTIES...IDEALLY JUST.

 

These bankers will ruin others and look at it as if they were speeding. They have no remorse. Nothing will prevent it. But we can certainly remove them from society so that they are not able to do it again. That is what will be just.

Tue, 01/29/2013 - 21:10 | 3197160 rsnoble
rsnoble's picture

No, angry muppets aren't good. Just ask Iraq, Libya, Iran, Syria, Afghanistan, Pakistan, numerous fucking places I can't spell or pronounce, China, N korea and now the entire fucking African continent.

These bastards have a one track mind and we are nothing more than an annoyance.  Just ask mr. dumbquestions Mccain.  That fucking POS should've been left in the jungle.

Tue, 01/29/2013 - 21:11 | 3197166 smartstrike
smartstrike's picture

4. Please provide the names of all outside experts consulted by the Justice Department in making prosecutorial decisions regarding financial institutions with over $1 billion in assets.

 

1. Hank Paulson

        ---tanks are going to roll in the street, so give me $700 billion

2. Angelo Mozilo

       ---the subprime crisis is now over, CFC will make a profit in 3Q 2008; I recommend that you buy CFC stock

3. Bob Fuld, Jr

      ----we got more liquidity, so no worries; our credit lines are vast and untapped

4. Bill Clinton

    ....how's that Glass-Steagall working out, I told ya don't need it

 

 

 

 

 

Tue, 01/29/2013 - 21:25 | 3197174 Cabreado
Cabreado's picture

Brown's been around for a while...
Grassely's been around forever.
Must be slow at the keyboard, eh?

False leadership always behaves the same...

and now, the Self-Serving are in Fear mode.

And most pathetic...
while what they fear most is Exposure,
when in Fear mode, they expose themselves.

Tue, 01/29/2013 - 21:13 | 3197181 GoBadgers
GoBadgers's picture

Even if DOJ attempted to go after the bankers, what difference does it make?

Wed, 01/30/2013 - 01:55 | 3197921 Tall Tom
Tall Tom's picture

The New Justice. "Really at this point what difference does it make?" --Hillarity Clinton

Tue, 01/29/2013 - 21:18 | 3197193 mt paul
mt paul's picture

they might as well

have added to the list..

who killed Kennedy 

and who blew up the towers..

Tue, 01/29/2013 - 21:18 | 3197196 Powder
Powder's picture

I am sorry, I can't read passed the Honorable Eric H. Holder part without.. puking..  

Tue, 01/29/2013 - 21:26 | 3197227 TNTARG
TNTARG's picture

They've just realized that? How clever!

Tue, 01/29/2013 - 21:33 | 3197248 Vendetta
Vendetta's picture

yep.  Our esteemed 'lawmakers' are "on  top of it" September 2008 wasn't too long ago was it?  They are undoubtedly running the statutute of limitations clock out and looking forward to their payoffs when they slide out of office.

Tue, 01/29/2013 - 21:47 | 3197295 TNTARG
TNTARG's picture

Let's send them some movie. They were so busy!

Hilarious.

Tue, 01/29/2013 - 21:26 | 3197228 Crummy
Crummy's picture

It's a bit like watching twin sisters fight over the same man.

Tue, 01/29/2013 - 21:31 | 3197243 Cosimo de Medici
Cosimo de Medici's picture

My buddy at the Post Office steamed open Holder's reply and photocopied it.  Here's the body of the letter:

"I've been bending over backwards investigating, and I take some offense that you imply otherwise.  In fact, I've been investigating myself.  And DAMN, I'm looking good!  The suits?  Brioni.  And don't blame me, they were empty when I got them.  Took a while to get them tailored properly, but that's why the President's term runs four years.  The shirts were more of a problem, but I finally found these Stefano Ricci ones.  Nice, huh?  Like the piping on the collar?  See the "HEH, AG" stitched onto the sleeve?  Bitchin, no?  Truth be known---hey, I'm under oath, right---the most intractable problem has been the hair. You'd think that with a population more than 90% African American, DC would have a stylist who knows how to do a brother's doo, but you'd be mistaken.  I finally found this Vietnamese women in Bailey's Crossroads...well, she wasn't here officially, but a man in my position, and me being an Honorable man and all, I helped push through that Green Card thing and I can tell you we've another proud American on the books.  You guys need a trim?  She does ears and noses, too, and I'm guessing at your age that can be a issue.  Now what's this too big to jail thing?  We need new doors on the cells or something?  Like on airplanes where really fat people can't eat or drink the whole flight because they can't slip in the door of the toilet if the need for the needful arises?  Well, yes, rectumifying that problem has taken a lot of my time.  And we're going to look at that football helmet issue, too, now that the President has made banning football one of his top priorities.  He's got two daughters, you know.  But talking about too big to jail, you ever see some of those offensive lineman?  I'm always kiddin' Michelle that it takes guys like that to make her butt look reasonable.  Oh, she hates that.  So about this bank thing, I'm scheduled for a lunch and massage with my buddy Jamie next week Tuesday.  I'll ask him about it and what should be done.  Guy's got all the answers.  Hey, you like my hair this way?"

Wed, 01/30/2013 - 15:30 | 3199793 Clashfan
Clashfan's picture

Oh yeah, Cosimo, another 911 truth denier who threatens to report ZH posters to DHS.

Tue, 01/29/2013 - 21:36 | 3197257 Atomizer
Atomizer's picture

Commonly, failure in financial growth and a bottle of Milk of Magnesia sits next to a Central Planner lying repeater’s network computer. Deception has caught up. Now their presence being filtered down to MSM is being questioned. Old tricks have been exposed, watching tweaked versions no longer becomes effective.

Tue, 01/29/2013 - 21:37 | 3197263 ZeroAvatar
ZeroAvatar's picture

"...........one set of rules for Wall Street, and ________________ for the Restuvus!"

Tue, 01/29/2013 - 21:43 | 3197283 Acidtest Dummy
Acidtest Dummy's picture

"Why do we always come here? I guess we'll never know. It's like some kind of torture -- to have to watch the show." Stadler and Waldorf's song.

Tue, 01/29/2013 - 21:47 | 3197297 NoelConfidence
NoelConfidence's picture

It's just the Pots again, calling the kettle black.

 

Tue, 01/29/2013 - 22:57 | 3197526 mt paul
mt paul's picture

long kettles

Tue, 01/29/2013 - 21:49 | 3197301 ziggy59
Tue, 01/29/2013 - 21:48 | 3197302 Vendetta
Vendetta's picture

this letter will certainly make the crickets get louder at the DOJ.

Tue, 01/29/2013 - 22:19 | 3197356 earleflorida
earleflorida's picture

"The Depressions 'Pecora Commision'... hung em, all high and dry!!!

http://en.wikipedia.org/wiki/Pecora_Commission

*The bankster, bete`noire el'grande nemesis!

*Definition: Fearless! 

Tue, 01/29/2013 - 22:07 | 3197371 BullyBearish
BullyBearish's picture

Three words boys..."STATuTE of LIMItATIONS"

 

The clock is ticking...

Wed, 01/30/2013 - 10:00 | 3198413 Dewey Cheatum Howe
Dewey Cheatum Howe's picture

And I suspect so is the safety on some people's weapons if these guys are not held acountable.

Tue, 01/29/2013 - 22:08 | 3197373 yogibear
yogibear's picture

Eric Holder would fit right in with Chicago Politics (Obama's political grooming crowd). Occasionally or never show up in his office.

Just a token placeholder, do-nothing, useless Attorney General.

Absent political place Holder collecting a paycheck for doing nothing.  

Tue, 01/29/2013 - 22:22 | 3197424 TraderTimm
TraderTimm's picture

Want to starve the banks? I think you know how. Just need to get that sovereign currency needle out of your arm. Cmon, it won't hurt after the 48 hours of withdrawal.

https://en.bitcoin.it/wiki/Main_Page

Wed, 01/30/2013 - 02:08 | 3197926 Tall Tom
Tall Tom's picture

Why starve them when you can overdose them?

 

A coordinated Deposit/Withdrawal of funds attack from many depositors will send Fractional Reserve Requirements through the roof. The Banks will have signals that they are sitting upon a large amounts of deposits which, of course, they do not have. The distortions of a coordinated attack will send shudders throughout the entire Banking Sector. Of course that would be an act of Economic Terrorism. What makes you think that Foreign Central Banks, like the Bank of China, are not thinking about doing this?

Tue, 01/29/2013 - 22:30 | 3197449 ekm
ekm's picture

I'll tell you how this works. It happens all the time in post communist eastern europe or in China it happens openly everyday.

 

A group of politicians get together with some "businessmen" and come up with a business. After they steal as much as they can, the 2nd step is to erase all traces of the crime.

However, there are victims screaming for blood. 

 

No problem. Stick it to one or two or three low end collaborators. Then call the senators to start investigating.

 

This is where we are right now. The big thieves think they've erases all traces and the few little fish will go to jail.

It never changes, never, ever, ever.

 

However, there are cases when one hits a very stubborn prosecutor and all hell breaks loose. It happens rarely, but it happens.

Tue, 01/29/2013 - 22:29 | 3197451 Atomizer
Atomizer's picture

Many DNA members have woken up. ObamaCare will use DNA forensics to determine your medical classification. Free medical participation will depend on your DNA sequencing. Those with lower government modeling threat will receive hospital services first. Others will prevail by having to pay a high risk premium to seek medical care. Save this post. It will become truth. 

My job is to help you see the future plans. Take it or leave it, just giving you heads up! 


The Obama unemployment union reclassification job creation plan comes in parallel. He plans to collapse the free market and drive everyone to go back to seek unionized education under the falsehood of central planning goals. The government will decide your carbon tax pay grade and monetary advancement.

Tue, 01/29/2013 - 22:31 | 3197456 lizzy36
lizzy36's picture

Ask Geithner.

He was admant NO prosecutions. Wouldn't be good for confidence.

Then again if one goes after the biggest banks and the executives one has to go after the TBTF regulators, including but not limited to TIM GEITHNER.

SO perhaps many in power were not interested in "prosecution" because they themselves would have been subject to it.

Tue, 01/29/2013 - 22:39 | 3197476 Atomizer
Atomizer's picture

Nice to hear from you Lizzy36

 

Have a peek, the fake monetary paper creators have the shits.

Propaganda (1928)

Tue, 01/29/2013 - 23:03 | 3197552 ekm
ekm's picture

Incorrect.

The order not to prosecute can come only from the president.

 

The problem with that is that the victims keep calling for blood. Obama thought that with Eric Schneiderman the victims would be content, but not happening since the housing sector is not getting any better.

 

He's got to blame somebody, so next step would be to find a famous prosecutor that has no clue about finance like Mary Jo White who will go after small fish.

John Gotti is one thing, big finance is a totally different thing. It's way out of her league.

Tue, 01/29/2013 - 23:28 | 3197628 MrBoompi
MrBoompi's picture

Obama calls the shots? Now that's some funny shit!

Tue, 01/29/2013 - 23:37 | 3197656 ekm
ekm's picture

Let me repeat this for the Nth time.
Legally, the president calls the shots.
There are muppeteers behind him, but they have no legal power to issue orders like that.

Wed, 01/30/2013 - 02:16 | 3197931 Tall Tom
Tall Tom's picture

I am sorry but it is Goldman Sachs, through Geithner, who tells the President what to do.

Tue, 01/29/2013 - 22:38 | 3197477 killallthefiat
killallthefiat's picture

These are not the insolvent governments that you are looking for.

Tue, 01/29/2013 - 23:01 | 3197541 hooligan2009
hooligan2009's picture

they didn't make that

yes we can!

they are not spartacus

Tue, 01/29/2013 - 22:51 | 3197510 mt paul
mt paul's picture

hmmm...

 

Jan 27 (Reuters) - Bank of America has begun moving $50 billion of derivatives out of its Irish-based operations into its British subsidiary, The Financial Times reported on its website on Sunday

Tue, 01/29/2013 - 23:01 | 3197531 hooligan2009
hooligan2009's picture

http://www.ft.com/cms/s/0/bfa85380-68a4-11e2-8c20-00144feab49a.html#axzz...

apparently Ireland doesn't want a TBTF bank to drag down its economy....again...maybe they don't think BofA is going to be around for much longer.

and don't forget that the true cost of the bail-out of TBTF is not restricted to taxpayer money handed over, because BofA won't be paying taxes any time soon


According to its most recent disclosures, the bank is sitting on more than $8bn of so-called deferred tax assets in the UK, against which it can offset profits to reduce or eliminate its corporate tax bill.

Wed, 01/30/2013 - 01:10 | 3197847 syntaxterror
syntaxterror's picture

How do you "move a derivative"?

Wed, 01/30/2013 - 02:20 | 3197935 Tall Tom
Tall Tom's picture

Close an account an reopen it elsewhere.

Tue, 01/29/2013 - 23:08 | 3197516 hooligan2009
hooligan2009's picture

ponders....maybe just maybe...there are enough good men and women of conscience at the SEC, FTC, DoJ, ATF, FBI, CIA, DA's, auditors, lawyers etc who are just a whisker away from wanting to each blow their own very, very large whistles and "out" the failings of the system in bringing those engaged in criminal acts to justice.

there are now tens of millions of people affected from mortgagees, to those paying insurance, to those forced out of work by offshore outsourcing and failure to repatriate taxable profits held overseas by each of the major corporations, to those not getting needed drugs and surgery because of tax transfers to banks, to savers punished with low rates in an experiment with no measure of success or duration. not to mention families without sons and daughters, brothers and sisters because of wars fought in back of beyondville.

ZH can act as a prompter/suggestion box, but what we need is a Wikileaks box that people can trust will a) not get back to them (no reprisals), b) will take them seriously, and c) is easily accessible.

 

final thought, women should not be front line combat troops, because men would, generally, not get raped when captured and there are always, always SNAFU's involving large scale military operations. men should not have to shield women so that women can fight.

Tue, 01/29/2013 - 22:56 | 3197521 10PastMidnight
10PastMidnight's picture

That's exactly what I wanted to hear from the Senators many months and months ago, did they look back in the playbook to pull this one out of their asses? It's as if they have people perusing the countryside and the online forums looking for the answers to "what the people want to hear" this week.

 

Oh and Fuck Y............ ah hell it doesn't even make me smile anylonger.

Tue, 01/29/2013 - 22:57 | 3197528 MrBoompi
MrBoompi's picture

Dear Senators Brown and Grassley,

Fuck off.

Yours truly,
Eric Holder, Jamie Dimon, Lloyd Blankfein, Ben Bernanke, John Stumpf, Brian Moynihan, and Michael Corbat

Tue, 01/29/2013 - 23:03 | 3197540 JR
JR's picture

Ain’t nobody too big too jail. It’s just that the jailers are too little to jail ‘em. Well, then, if Congress ain’t big enough, the market is!

Straight talk from Ron Paul:

 “Without an intellectual awakening, the turning point will be driven by economic law. A dollar crisis will bring the current out-of-control system to its knees.

"If it’s not accepted that big government, fiat money, ignoring liberty, central economic planning, welfarism, and warfarism caused our crisis we can expect a continuous and dangerous march toward corporatism and even fascism with even more loss of our liberties. Prosperity for a large middle class though will become an abstract dream.

“This continuous move is no different from what we have seen in how our financial crisis of 2008 was handled. Congress first directed, with bipartisan support, bailouts for the wealthy. Then it was the Federal Reserve with its endless quantitative easing. If at first it doesn’t succeed try again; QE1, QE2, and QE3 and with no results we try QE indefinitely—that is until it fails.

“There’s a cost to all of this and let me assure you delaying the payment is no longer an option. The rules of the market will extract its pound of flesh…and it won’t be pretty.”

End the Fed before the Fed and its too-big-to-jail owners end U.S.prosperity and sovereignty.

Tue, 01/29/2013 - 23:02 | 3197543 digalert
digalert's picture

And now you angry spineless senators, what are you going to do when Holder says f***you and throws your little proposal in the round file? Just wondering.

Tue, 01/29/2013 - 23:13 | 3197589 Sigep0612
Sigep0612's picture

Com'on the US has more problems than a can of worms on the opening day of fishing season.    It's simply too late.  US deficit projected to be $17.5T by the end of this year and we're shouting down the bankers?   So if we round up Dimon, Geither, Paulson, Bernake and threw them in jail....then what.  Would we stand back with our hands on our hips and say.."See we showed them."   The resolution to the problems that plague the US is not something the US population (and the world) is willing to accept...a lower standard of living, fewer entitlements and higher taxes.   

It's only a matter of time folks.  How long do you think people will tolerate this false prosperity.  This uncertainy? 

 Eventually, the global slate will be wiped clean and then and only then will we be able to retrieve common sense and confidence.       

Tue, 01/29/2013 - 23:24 | 3197617 Diablo
Diablo's picture

you can have them pay a few billion in civial penalties

OR

you can persue criminal charges which instanly causes a bank to cease to exist....and leads to the collapse of the banking system. (imagine what would happen if citibank was charged criminally?)

catch 22, bitchez.

 

Tue, 01/29/2013 - 23:33 | 3197643 MrBoompi
MrBoompi's picture

So nationalize the goddamn criminal enterprises and jail all of the crooked bastards. If we don't have the balls to do that we can't expect anything but a total collapse anyway.

What would happen if Citibank was charged criminally? I guess we are too hopelessly terrorized to find out.

Tue, 01/29/2013 - 23:26 | 3197624 vincent
vincent's picture
par·a·site

[par-uh-sahyt]

noun

1.
an organism that lives on or in an organism of another species, known as the host, from the body of which it obtains nutriment. 2.
a person who receives support, advantage, or the like, from another or others without giving any useful or proper return, as one who lives on the hospitality of others. If it walks like a duck, quacks like a duck..
Tue, 01/29/2013 - 23:29 | 3197634 sodbuster
sodbuster's picture

Holder is NOT the top law enforcement or prosecutor in the nation. He is more like a mob lawyer. He is there to ENSURE that no one is prosecuted and to diffuse any and all legal actions against the Insiders. He runs interference for them. These people have no moral compass whatsoever. Criticism runs off them like water off a duck. They don't even try and hide any longer. The USSA has become just another "pimple on the buttocks of the world", two- bit third world country, run by a Marxist wanna- be dictator.

Tue, 01/29/2013 - 23:35 | 3197651 MrBoompi
MrBoompi's picture

Exactly the whole fucking executive branch and most of congress are paid to protect these thieves Don't look for justice anytime soon.

Tue, 01/29/2013 - 23:31 | 3197636 logicalman
logicalman's picture

Laws are a (very bad) joke if encorced selectively.

If it's illegal for me it's illegal for you. Simple.

Let's look at printing money.

 

Tue, 01/29/2013 - 23:54 | 3197694 overmedicatedun...
overmedicatedundersexed's picture

they wrote a letter , now that's huge, maybe name calling comes next..they all voted for the bail outs the tarps and kept quiet when bernake told them to mind their own business time and time again..what brought this letter out, perhaps many of us taxunits have done what i did and quit the dem/ gop and registered libitarian or indie. after the debt limit boner give away. my only hope is the gop dies quickly for the lies they have fed so called conservates year in and year out.

Wed, 01/30/2013 - 00:36 | 3197776 Zigs
Zigs's picture

Day late and a dollar short.  Make that $16 trillion, short.

Wed, 01/30/2013 - 00:44 | 3197795 Atomizer
Atomizer's picture


The Obama administration has created and appointed upwards of 40 czars - 2009

 

2012 List Obama Czars 

Faces, the fear in pushing the agenda while dodging geolocation identification. NGO’s continuing to sponsor or cancel rapid propaganda missions. How does one form the mind in bending the spoon.. /sarc

 

[We are not going to give you more technology to exploit, your derivatives market will bend your financial spoon in a negative effect]. Welcome to your own concocted New World Order Twist of fucked up losses. Blows a kiss to my 2.0 cunts.. Thank you!

 

Tag, your it.. This isn’t a fucking joke.. Watching the demise will become entertainment.  

 

Wed, 01/30/2013 - 00:53 | 3197810 cherry picker
cherry picker's picture

Isn't it Patrick Henry who said, "Give me liberty or give me death?"

He was considered a hero, right?

Liberty is only possible if there is justice.

We see both eroding today and Patrick Henry is probably considered an "extremist" by the politically correct.

 

Wed, 01/30/2013 - 01:08 | 3197841 syntaxterror
syntaxterror's picture

I thought the Fed Chairman was tasked with regulating the banks. No?

Wed, 01/30/2013 - 01:36 | 3197897 lakecity55
lakecity55's picture

So, according to the picture with this article, our reps are actually muppets.

Now I know what's wrong.

Wed, 01/30/2013 - 02:22 | 3197937 Lord Of Finance
Lord Of Finance's picture

Lets get on with the 'show trial'!

 

    and coming in his first "real" term as comrade in chief, all Austrian economics schooled and influenced individuals will be rounded up and loaded onto Amtrac trains en route to Chicago to be "re-educated".

 

 

                                             ALL ABOARD!!!!!!!!!!!!

Wed, 01/30/2013 - 04:03 | 3198013 The Heart
The Heart's picture

"Lets get on with the 'show trial'!"

Okie dokie, here come da judges with some REAL just-us entertainment first.:

www.youtube.com/watch?v=SK6TVqbsKVk

 

Wed, 01/30/2013 - 03:50 | 3197998 poldark
poldark's picture

The banks and the large corporations ARE the government. They are responsible for redistributing wealth around the world.

World government policy will be discussed at the Bilderberg meeting in Germany later this year. Most of the people who were at Davos will be there. The Davos meeting is a very expensive social event. The Bilderberg meeting will be the business meeting.

 

Whatever its early mission, the Group is now “a shadow world government….threaten(ing) to take away our right to direct our own destinies (by creating) a disturbing reality” very much harming the public’s welfare. In short, Bilderbergers want to supplant individual nation-state sovereignty with an all-powerful global government, corporate controlled, and check-mated by militarized enforcement.

“Imagine a private club where presidents, prime ministers, international bankers and generals rub shoulders, where gracious royal chaperones ensure everyone gets along, and where the people running the wars, markets, and Europe (and America) say what they never dare say in public.”

Early in its history, Bilderbergers decided “to create an ‘Aristocracy of purpose’ between Europe and the United States (to reach consensus to rule the world on matters of) policy, economics, and (overall) strategy.” NATO was essential for their plans – to ensure “perpetual war (and) nuclear blackmail” to be used as necessary. Then proceed to loot the planet, achieve fabulous wealth and power, and crush all challengers to keep it.

Along with military dominance, controlling the world’s money is crucial for with it comes absolute control as the powerful 19th century Rothschild family understood. As the patriarch Amschel Rothschild once said: “Give me control of a nation’s money and I care not who makes its laws.”

Bilderbergers comprise the world’s most exclusive club. No one buys their way in. Only the Group’s Steering Committee decides whom to invite, and in all cases participants are adherents to One World Order governance run by top power elites.

 

Wed, 01/30/2013 - 04:20 | 3198023 amanfromMars
amanfromMars's picture

Bilderbergers comprise the world’s most exclusive club. No one buys their way in. Only the Group’s Steering Committee decides whom to invite, and in all cases participants are adherents to One World Order governance run by top power elites. .... Wed, 01/30/2013 - 02:50 | 3197998 new poldark

Seems to me like Bilderbergers are in dire straits need of novel searching virtual machine algorithms/metadatabased source intelligence for advanced trading platforms and plan phorms, poldark. And any and all omissions and epic failures to provide what is future needed and presently available, is proof positive of new blood required in the Group’s Steering Committee ........ or future intelligence wasting IT resources if considering them suitable future global players without their being able to provide what is needed for what is needed to that and to those who can contract and promise to deliver it ..... with ITs Creative Command and Cyber Control of Computers and Communications/C42 Systems of Quantum Communication Control .... AI@ITsWork.?!

I Kid U Not.

Wed, 01/30/2013 - 09:14 | 3198235 Zwelgje
Zwelgje's picture

Their algo's sure misread 'Syria'. The subjects there don't seem to respond on the 'incentives' as expected.

Wed, 01/30/2013 - 05:56 | 3198062 Sandmann
Sandmann's picture

Fascism was the attempt to marry the politics of the masses with the hereditary rights of the classes as monarchy was destroyed in WW1. The Platonic Republic was the post-WW2 method of building EU and other Institutions immune from democracy so the Oligarchs could rule in the "name of The People" and now we simply have Oligarchy.

Wed, 01/30/2013 - 03:46 | 3198000 amanfromMars
amanfromMars's picture

Good Morning, Zero Hedge

Wanna trip down the rabbit hole?  Wanna see what is in store and in storage and steerage?

Posted by amanfromMars on 01/29/13 10:47 PM …. sharing an inconvenient truth on http://www.thedailybell.com/28631/Ron-Paul-US-Action-in-Mali-is-Another-Undeclared-War
.
Here and below is something to realise is not untrue and would warrant a headline ...."US Inaction on Wall Street and Fed Feeds Leads Another Undeclared War in and on Washington"
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<quote> "Boy, did it perk up some ears at 195 Broadway," says Hopper. It wasn't even that 350,000 fraudulent calls was that big a number. Rather, it was the fact that there was really nothing that could be . done about it, at least not at once. "It was immediately recognized that if such fraud could be committed with impunity, losses of staggering proportions would ensue," Caming said. ''At that time we recognized -- and we can say this more confidently in public in retrospect -- that we had no immediate defense. This was a breakthrough almost equivalent to the advent of gunpowder, where the hordes of Genghis Khan faced problems of a new sort, or the advent of the cannon."
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The initial plan with Greenstar was simple: Wait. Watch. Listen. Gather statistics. Tell no one. Most important, don't do anything that would give it away. "There was no prosecution during those first couple of years," Hopper says. "It was so the bad guys would not be aware of the fact that they're being measured." It was only later, Hopper says. that AT&T decided to switch from measurement to prosecution. Even then! Hopper said, "The presence of Greenstar would not be divulged and that evidence gathered to support toll fraud prosecutions would be gathered by other means." Instead, Hopper relates, Greenstar would be used to alert Bell security agents to possible fraud. The security agents would then use other means, such as taps and recordings, to get the evidence needed to convict. "Greenstar bird-dogging it would not be brought out," says Hopper. "It was just simply a toll fraud investigation brought about by unusual signaling and you would not talk about the fact that there was a Greenstar device. That was the ground rule as I understood it. Any court testimony that I ever gave, I never talked about any of that." As another telephone company official put it, "If it ever were necessary to reveal the existence of this equipment in order to prosecute a toll fraud case, [AT&T] would simply decline to prosecute.""  ….. http://cryptome.org/2013/01/att-greenstar-spy.htm </quote>
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That extract from "EXPLODING THE PHONE The Untold Story of the Teenagers and Outlaws Who Hacked Ma Bell" …  PHIL LAPSLEY [Grove Press New York] has a carbon copy clone of itself in the too-big-to-fail model of fraud and insider trading/simply complex common electronic theft which has banking and politicians running for cover and seeking the protection of bought courts of selective justice and distracting media tales of new destructive ventures and warring land grabs in foreign lands/emerging states of intelligence.
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And have you any idea of the size of the mountain of undeniable evidence secret intelligence services have collected and processed to be able to prove beyond a shadow of any doubt, the guilt of leaders? Methinks not, but it is surprising and would stagger you, but for the virtual machinery involved is it as nothing and it just keeps on giving.

Now what do you imagine/think you can do about it/IT? Or do you realise nothing, and accept diddly squat, and therefore are y'all practically impotent and pathetically ignorant too of your current situation and present existence, which is a virtual reality play controlled by virtual machines and searching algorithms ?

"Two things are infinite: the universe and human stupidity; and I'm not even sure about the universe."~~ Albert Einstein (1879-1955)

"Error is better than apathy. Error can be corrected in time to change the outcome. Apathy is seldom corrected until it is too late." – G. Edward Griffin

 

Wed, 01/30/2013 - 04:16 | 3198022 poldark
poldark's picture

Trilateralist Zbigniew Brzezinski (TC’s co-founder) wrote in his Between Two Ages – America’s Role in the Technotronic Era:

“people, governments and economies of all nations must serve the needs of multinational banks and corporations. (The Constitution is) inadequate….the old framework of international politics, with their sphere of influence….the fiction of sovereignty….is clearly no longer compatible with reality….”

http://www.globalresearch.ca/the-true-story-of-the-bilderberg-group-and-...

Wed, 01/30/2013 - 04:52 | 3198034 GNWT
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