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"I Am Putting Everything In Goldman Sachs Because These Guys Can Do Whatever The Hell They Want"

Tyler Durden's picture




 

When we first covered the Carmen Segarra lawsuit alleging the capture of the NY Fed by Goldman Sachs back in October 2013, we didn't have much hope for justice to get done. We said that "while her allegations may be non-definitive, and her wrongful termination suit is ultimately dropped, there is hope this opens up an inquiry into the close relationship between Goldman and the NY Fed. Alas, since the judicial branch is also under the control of the two abovementioned entities, we very much doubt it."

Sure enough, the lawsuit was dropped (and no inquiry was opened) but not before it became clear that the very judge in charge of the case, U.S. District Judge Ronnie Abrams, was herself conflicted, after it was revealed that her husband, Greg Andres, a partner at Davis Polk & Wardwell, was representing Goldman in an advisory capacity. Curiously, before she assumed her current office in March 2013, back in 2008 Abrams returned to Davis Polk herself as Special Counsel for Pro Bono. She had previously worked at the firm from 1994 to 1998. For the full, and quite amazing, story of how the "Judge" steamrolled Segarra's objections reads this Reuters piece.

As a result of this fiasco, some wondered just how far do Goldman's tentacles stretch not only at the money-printing (i.e., NY Fed) level, not only at the legislative level (see "With Cantor Down, Which Other Politicians Has Goldman Invested In?"), but at the judicial as well.

And then, on Friday, the Segarra case against the Federal Reserve branch of Goldman Sachs got a second wind, when as a result of another disclosure, ProPublica revealed "How Goldman Controls The New York Fed in 47.5 Hours Of "The Secret Goldman Sachs Tapes." That is to say, nothing new was revealed per se, because as anyone who has read this website for the past 6 years knows just how vast Goldman's network is not only at the Fed, but in that all important other continent too, Europe.

Sadly, just like a year ago, so this time too, we are reluctant to say anything will change. In fact, there is too much at stake, for Goldman to drop the reins and disassociate from the NY Fed: for pete's sake, the president of the NY Fed is a former Goldman employee - does it get any more conflicted than that?!

But, wait, Goldman will do penance by "prohibiting its bankers from buying stocks"... the horror. Luckily at least purchasing politicians and Fed presidents is still perfectly allowed.

In fact, what has become clear to everyone is that aside from yet another dog and pony show (led by, you guessed, it the head dog and ponier herself, Elizabeth Warren), not only will nothing change, but in fact the best way to take advantage of a broken, corrupt, sinking system, is to join it. And the best summary of just that sentiment was released over the weekend by Nanex' Eric Hunsader as follows:

Curious what made up Eric's mind? Then fast forward to minute 24 to hear what it sounds like when a top Fed official "questions" Goldman Sachs:

 

But before we put this topic to bed, here is Raúl Ilargi Meijer explaining why "The US Has No Banking Regulation, And It Doesn’t Want Any"

* * *

It is, let’s say, exceedingly peculiar to begin with that a government – in this case the American one, but that’s just one example - in name of its people tasks a private institution with regulating not just any sector of its economy, but the richest and most politically powerful sector in the nation. Which also happens to be at least one of the major forces behind its latest, and ongoing, economical crisis.

That there is a very transparent, plain for everyone to see, over-sized revolving door between the regulator and the corporations in the sector only makes the government’s choice for the Fed as regulator even more peculiar. Or, as it turns out, more logical. But it is still preposterous: regulating the financial sector is a mere illusion kept alive through lip service. Put differently: the American government doesn’t regulate the banks. They effectively regulate themselves. Which inevitably means there is no regulation.

The newly found attention for ProPublica writer Jake Bernstein’s series of articles, which date back almost one whole year, about the experiences of former Fed regulator Carmen Segarra, and the audio files she collected while trying to do her job, leaves no question about this.

What’s going on is abundantly clear, because it is so simple. The intention of the New York Fed as an organization is not to properly regulate, but only to generate an appearance – or illusion – of proper regulation. That is to say, Goldman will accept regulation only up to the point where it would cut into either the company’s profits or its political wherewithal.

What the ‘Segarra Files’ point out is that the New York Fed plays the game exactly the way Goldman wants it played. Ergo: there is no actual regulation taking place, and Goldman will comply only with those requests from the New York Fed that it feels like complying with.

In the articles, the term ‘regulatory capture’ pops up, which means – individual – regulators are ‘co-opted’ by the banks they – are supposed to – regulate. But the capture runs much larger and wider. It’s not about individuals, it’s a watertight and foolproof system wide capture.

The government picks a – private – regulator which has close ties to the banks. The government knows this. It also knows this means that its chosen regulator will always defer to the banks. And when individual regulators refuse to comply with the system, they are thrown out.

In one of the cases Segarra was involved in during her stint at the Fed, the Kinder Morgan-El Paso takeover deal, Goldman advises one party, has substantial stock holdings in the other, and appoints a lead counsel who personally has $340,000 in stock involved. Conflict of interest? Goldman says no, and the Fed complies (defers).

The lawsuit Segarra filed against the NY Fed and three of its executives was thrown out on technicalities by a judge whose husband was legal counsel for Goldman in the exact same case. No conflict of interest, the judge herself decides.

This is not regulation, it’s a sick and perverted joke played on the American people, which it has been paying for it through the nose for years, and will for many years to come. Sure, Elizabeth Warren picks it up now and wants hearings on the topic in Congress, but she’s a year late (it’s been known since at least December 2013 that Segarra has audio recordings) and moreover, it was Congress itself that made the NY Fed the regulator of Wall Street. Warren has as much chance of getting anywhere as Segarra did (or does, she’s appealing the case).

The story: In October 2011, Carmen Segarra was hired by New York Fed to be embedded at Goldman as a risk specialist, and in particular to investigate to what degree the company complied with a 2008 Fed Supervision and Regulation Letter, known as SR 08-08, which focuses on the requirement for firms like Goldman, engaged in many different activities, to have company-wide programs to manage business risks, in particular conflict-of-interest. Some people at Goldman admitted it did not have such a company-wide policy as of November 2011. Others, though, said it did.

Let’s take it from there with quotes from the 5 articles Bernstein wrote on the topic over the past year. To listen to the Segarra files, please go to The Secret Recordings of Carmen Segarra at This American Life.

One last thing: Jake Bernstein’s work is of high quality, but I can’t really figure why he says things such as the audio files show: “a New York Fed that is at times reluctant to push hard against Goldman and struggling to define its authority”. Through his work, and the files, it should be clear that just ain’t so. Both the Fed’s policy and authority are crystal clear and ironclad.

 

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Sun, 09/28/2014 - 20:26 | 5265778 Peter Pan
Peter Pan's picture
"These Guys Can Do Whatever The Hell They Want"

Including with the money you give them.

Sun, 09/28/2014 - 20:25 | 5265779 Government need...
Government needs you to pay taxes's picture

Why would you invest in GS if they can do anything they want, particularly swindling muppets?  Just wait.  The tape where GS execs talk about ripping the eyes out of GS muppet shareholders will be coming out eventually.  C'mon man.  These investment banks suck down 40-60% of revenue into a line item that includes salaries and bonus accruals.  Those Greenwich and Easthampton estates aren't paid for by employee stock sales.  They are paid for by shareholders.  The thieves recognize they can take enough in bonuses that equity value is gravy for their grandkids' retirement.

Sun, 09/28/2014 - 20:27 | 5265781 StupidEarthlings
StupidEarthlings's picture

Tldr.

You guys gotta be more direct and to the point..this is the internet age..jeez.

Someone got the minutes? 

Mon, 09/29/2014 - 12:39 | 5267217 quikwit
quikwit's picture

Here you go: NY Fed is GS' bitch.

Sun, 09/28/2014 - 20:30 | 5265787 PaperBear
PaperBear's picture

Until no one buys what they are selling.

Sun, 09/28/2014 - 20:32 | 5265789 Miss Expectations
Miss Expectations's picture

Remember Tim "I've Never Been A Regulator" Geithner? (17 seconds):

http://www.youtube.com/watch?v=mvVEw1nSx_8

Sun, 09/28/2014 - 20:42 | 5265797 One of We
One of We's picture

I wonder what  Mr. Jim Traficant would have to say about the revelations in these recordings?

What the fuck is the FBI so busy with that they can't investigate the fraud and raconteering that is obvious to anyone?

Why does the congress keep funding an agency that is either an accomplice or incompetent?  

Shame on you....shame on you....

Sun, 09/28/2014 - 21:22 | 5265871 daedon
daedon's picture

Because in reality, it is the fed that regulates congress.

Sun, 09/28/2014 - 22:17 | 5265974 Ban KKiller
Ban KKiller's picture

Playbook.

Sun, 09/28/2014 - 20:44 | 5265802 Barnaby
Barnaby's picture

"And whatever you do, don't invest in American Funds tomorrow because they're poison. Poison!" ~ new pres of PIMCO.

Sun, 09/28/2014 - 20:47 | 5265807 The Fonz...befo...
The Fonz...before shark jump's picture

You need at least $1 billion (shoot that might be to low) to get top shelf (never lose a penny rig trade) advisory services at GS

Everything below that number gets transferred to the "muppet" division....

Sun, 09/28/2014 - 20:48 | 5265809 Boubou
Boubou's picture

It's a disease. Every day I read about outrageous corruption,deception and crime in every department and institution - every facet of our lives- and while it makes me literally sick , there is nothing - nothing  we can do. So am I a masochist? Is there a 12 step program?

Sun, 09/28/2014 - 21:17 | 5265863 Oldwood
Oldwood's picture

This is what they hoped when waited for. For the corruption to be so systemic that it would be suicide to eliminate it. The blatency of it proves this to me.

Sun, 09/28/2014 - 21:39 | 5265899 Government need...
Government needs you to pay taxes's picture

There are some examples of farmers acting against tyranny. . .

Mon, 09/29/2014 - 00:09 | 5266082 One of We
One of We's picture

Become more self sufficient, withdraw, and let the cancer burn itself out.  

Cancer isn't cured with targeted attacks of chemo and radiation but by repairing the body so it can defeat the cancer.

Same with a shitty corrupt government as far as I can see.  We need to repair the roots of the tree of liberty.....

Sun, 09/28/2014 - 20:50 | 5265812 TulsaTime
TulsaTime's picture

And we are all SHOCKED, SHOCKED I SAY, to discover that there is any expectation of law observance on the part of major financial institutions of this country.  Next thing you know, you will tell me that these organizations influence government decision making related to enforcement and market operations.  Perhaps you would have us believe they influence forgegn policy as well!  HA HA, a resounding laugh at your expense....

Sun, 09/28/2014 - 20:57 | 5265815 Bay of Pigs
Bay of Pigs's picture

These tapes are the smoking gun and the real deal. Everything we ever thought about GS, the NYFED and corrupt regulators is now conspiracy fact.

Where the fuck is the FBI?

Sun, 09/28/2014 - 21:05 | 5265849 insanelysane
insanelysane's picture

The FBI is concerned about YOU!  (not the bankster elites)

Sun, 09/28/2014 - 21:20 | 5265868 Oldwood
Oldwood's picture

We are the threat to illusion that they are dependent on.

Sun, 09/28/2014 - 20:58 | 5265827 kchrisc
kchrisc's picture

They can do what ever they want until the guillotines show up.

An American, not US subject.

Sun, 09/28/2014 - 21:04 | 5265840 lasvegaspersona
lasvegaspersona's picture

It is not 'a giant afraid of its own power' as Carmen says...it is a failure to understand that the Feds main, numero uno, sole and only purpose is to protect the dollar. Derivatives are the tools and the bigs banks are the mechanism they use. The banks can do very little wrong because the things they do that seem so wrong are simply wrong. As long as we have the dollar we will have banks doing things that just seem wrong....and they are...but will never be called on them.

Sun, 09/28/2014 - 21:14 | 5265861 lasvegaspersona
lasvegaspersona's picture

btw

congrats to ATC...good job!

Sun, 09/28/2014 - 21:24 | 5265877 MollyHacker
MollyHacker's picture

Sun, 09/28/2014 - 21:26 | 5265880 Infinite QE
Infinite QE's picture

TFJ

Sun, 09/28/2014 - 21:53 | 5265928 tarabel
tarabel's picture

That's a big 14/88 there, weekend nazi guy.

Sun, 09/28/2014 - 21:30 | 5265885 Wahooo
Wahooo's picture

It finally dawned on me. Why did al Qaeda hit the GS headquarters or even the NY Fed if they were so bent on taking down our economy and making a clear and bold statement?

Mon, 09/29/2014 - 01:36 | 5266155 The9thDoctor
The9thDoctor's picture

It's moar effective to take out a white elephant with a 10-day old insurance policy taken out on it.

sark

Sun, 09/28/2014 - 21:36 | 5265898 tradewithdave
tradewithdave's picture

Going all in... The Himpton Doctrine

http://tradewithdave.com/?p=22023

Sun, 09/28/2014 - 21:39 | 5265904 Downtoolong
Downtoolong's picture

What the ‘Segarra Files’ point out is that the New York Fed plays the game exactly the way Goldman wants it played.

Including moving the line of debate so far off center that it becomes meaningless, regardless of the outcome.

Note how the real problems of concern to Segarra were ridiculously steered and distilled by her bosses into an argument over whether a hodge-podge of written statements buried in various Goldman documents could collectively be labeled a conflict of interest policy. No one was even discussing the actual content of those statements or what they might allow or disallow Goldman to do. No one was concerned whether those statements had been violated in the actual case heard by the courts. Those issues weren’t even open for debate. Pathetic.

Sun, 09/28/2014 - 21:42 | 5265913 FlSapo
FlSapo's picture

Go Long on Shitgums.

Sun, 09/28/2014 - 22:14 | 5265968 Ban KKiller
Ban KKiller's picture

Doubleplus good.

Mon, 09/29/2014 - 15:43 | 5268041 WmMcK
WmMcK's picture

Or doubleplus ungood? --I never can get that straight.

Sun, 09/28/2014 - 21:43 | 5265914 FlSapo
FlSapo's picture

Go Long on Shitgums.

Sun, 09/28/2014 - 21:55 | 5265932 Yen Cross
Yen Cross's picture

  Long Goldmansachs braided rope.

  Lined with the blood of small babies and shards of glass...

Mon, 09/29/2014 - 05:43 | 5266266 SubjectivObject
SubjectivObject's picture

... the blood of Ebola babies ...

Just let 'em wear the shard impregnated rope tightly, wait for Nature to take it's course.  Even the corpse will be untouchable, left to rot for all to see.  [found out recently that previous English kings used to do similar public hang-and-rot with their upstart nobles .... tradition] 

Sun, 09/28/2014 - 22:00 | 5265941 Son of Loki
Son of Loki's picture

Being Above The Law must be very comforting.

Sun, 09/28/2014 - 22:44 | 5266014 Radical Marijuana
Radical Marijuana's picture

Not necessarily, Son of Loki. Those who destroy the rule of law tend to eventually discover that they have created and fed a monster which they cannot control. Having to pay mercenaries to enforce one's own "rule of law" can become very problematic, since those mercenaries are also discovering that they too are above the law.

The banksters have degenerated from being the top predators towards becoming parasites. Their monetary system has become a metastasizing cancer that threatens to kill its host, and drive it all through severe social storms at the same time. After any such collapse into chaos, it is not clear what would emerge out of that new situation.

From a plausible science fiction perspective, it is like imagining what would happen to the society that went underground to survive in trillion dollar bunkers, during an out of control world war. The society in those underground bunkers would become a pressure cooker of social change.

I would suggest that it is only comforting to above the rule of law during the initial phases of that process, but NOT so nice during the later phases. In my view, the banksters are destroying themselves too when their enforced frauds destroy the social contracts and political habits that made the previous systems of the rule of law possible. Perhaps a new rule of law could finally emerge. However, that would not be limited by any previous presumptions regarding what was possible, after people finally adapted to face their new real situations.

Mon, 09/29/2014 - 00:32 | 5266111 Otrader
Otrader's picture

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

Sun, 09/28/2014 - 22:06 | 5265952 robnume
robnume's picture

Reinstate Glass-Steagall and abolish the Feral Reseve Act of 1913.

Sun, 09/28/2014 - 22:45 | 5266017 Radical Marijuana
Radical Marijuana's picture

Of course, I agree, robnume, except that proposal is suggesting something which is now too little, too late, and too trivial to matter all that much anymore.

Sun, 09/28/2014 - 22:10 | 5265960 shuckster
shuckster's picture

AIG owed GS a ton of money. AIG was a major insurer (in 2007 it was the largest company of the market at $500B+ market cap). AIG wrote insurance (options) particularly put options, that GS bought. When those options hit strike, they ballon in value. At expiration, that payout must be made, usually about 10,000% of the price of the option at sale. AIG couldn't afford to pay out, but GS wanted their money, yesterday. Instead of eating the losses, they pressed the Gov to bail out AIG. Bear Stearns, who was a primary Goldman competitor, was not so lucky. They were, like Lehman (who was the 2nd largest IB after Goldman), not in a position to demand a bailout. Goldman effectively, and completely legally, ate everyone's lunch. AIG however, couldn't be allowed to go bankrupt or those options would've been worth zero. The bailouts, in other words, served exclusively those who were on Goldman's good side or owed Goldman money

Mon, 09/29/2014 - 00:27 | 5266109 Otrader
Otrader's picture

I wish every American understood this.   The fucktard GSCO and others would not be in business.  And, the Fed would be under scrutiny.

The media was silent and still quiet about what happened. 

 

 

Sun, 09/28/2014 - 22:09 | 5265961 shuckster
shuckster's picture

AIG owed GS a ton of money. AIG was a major insurer (in 2007 it was the largest company of the market at $500B+ market cap). AIG wrote insurance (options) particularly put options, that GS bought. When those options hit strike, they ballon in value. At expiration, that payout must be made, usually about 10,000% of the price of the option at sale. AIG couldn't afford to pay out, but GS wanted their money, yesterday. Instead of eating the losses, they pressed the Gov to bail out AIG. Bear Stearns, who was a primary Goldman competitor, was not so lucky. They were, like Lehman (who was the 2nd largest IB after Goldman), not in a position to demand a bailout. Goldman effectively, and completely legally, ate everyone's lunch. AIG however, couldn't be allowed to go bankrupt or those options would've been worth zero. The bailouts, in other words, served exclusively those who were on Goldman's good side or owed Goldman money

Sun, 09/28/2014 - 22:27 | 5265988 besnook
besnook's picture

are you kidding? what is the surprise? the fed is a private entity is owned by the member banks. goldmansuchs is the biggest member bank. the new york fed is just a branch of the fed. as an owner, goldmansuchs has some say in the way it does business. despite whatever weak promises made to .gov about regulation(look at the size of the sec budget and the other .gov bank regulatory acronyms) the banks are, as greenspan admitted, above the law.

the fed is the greatest con in human history.

Mon, 09/29/2014 - 01:40 | 5266156 Wild Theories
Wild Theories's picture

yes, how do you slap the wrist of your major shareholder? you don't

how do you let Lehmans collapse when they were also a shareholder of the FED? because they were a minor shareholder, and given the situation at the time when everyone was in the shits, a minor shareholder is worth sacrificing to save other bigger shareholders

Sun, 09/28/2014 - 22:27 | 5265992 firstdivision
firstdivision's picture

Again, nothing is going to change til shit gets violent; history is the track record. Until that moment occurs, I'm just going to keep prepping to protect myself and family.

Sun, 09/28/2014 - 22:29 | 5265993 the grateful un...
the grateful unemployed's picture

how much different is this than the creation of the fed in 13, because JP Morgan was setting interest rates, and the government thought that was not in the interests of a free market. then JP Morgan tried to save the stock market during the crash of 29, and lost a bundle. now a century later Goldman is the preeminent banker, only because the Fed bailed them (AIG) out during 2008, rather than allow the process of creative destruction (Alan Greenspan) to clear out the weak hands. now Goldman in a position to own the stock market, it requires some cooperation, through other institutions, via shorting and derivatives. they could monkey hammer stocks to nothing and it would only be a zero sum trade for them. of course they would destroy whats left of the free economy, and the pension funds, but on the other side is obama, bernanke, yellen, and a whole host of crooks and idiots. very tempting. JP Morgan thought about saving the stock market, (and idea which never should have gotten off the drafting board) GS will think about saving the economy (the bond market) and the country by overthrowing the current financial deficit spending statists in DC. and if they try like JPM in 29, they might fail and end up a lot poorer for it. will they?

Sun, 09/28/2014 - 22:37 | 5266007 Ban KKiller
Ban KKiller's picture

There will come a time when violence and revolution will be a willing choice. I see a dedicated group who strike at seventy five targets at once. Nice, soft, fluffy targets all pink and rosied cheecked fatness. Ha! Army will do the deed led by a zealot. You heard it here first. Army v. Banksters.

Don't call me, I'll be busy.

 

 

Mon, 09/29/2014 - 00:23 | 5266105 Otrader
Mon, 09/29/2014 - 00:44 | 5266117 Global Observer
Global Observer's picture

Armies expect to get paid. Who can they expect to pay them once they finish the banksters off?

Sun, 09/28/2014 - 22:40 | 5266011 Joebloinvestor
Joebloinvestor's picture

They broke up Ma Bell for less shit then this.

Mon, 09/29/2014 - 03:23 | 5266229 SAT 800
SAT 800's picture

The only reason they do anything is political opportunism. they polled a good voter response to "protecting" the people from the predatory monopoly phone co. Bingo. The amount of "shit" is completely meaningless.

Sun, 09/28/2014 - 22:52 | 5266019 Kina
Kina's picture

The only way GS can be dealt with is if there is a major war and Israel and  the US get obliterated.... and that can only happen with a hot war.

 

Global excision, radiation and chemotherapy to remove the metastasized Goldman Sachs cancer. Unfortunately it also means killing off most of the host. Unless a silver bullet chemo can be found...

 

Too bad these Islamic radical ter*8ists didn't decide to just focus on global banksters... I mean guys, thats were the worlds real troubles come from.

Mon, 09/29/2014 - 00:20 | 5266099 Otrader
Otrader's picture

Too bad these Islamic radical ter*8ists didn't decide to just focus on global banksters... I mean guys, thats were the worlds real troubles come from.

 

May be their 'advisors' are pointing them in the wrong direction. Like ISIS killing other muzzies instead of going after Israel.

Mon, 09/29/2014 - 01:13 | 5266135 joego1
joego1's picture

Could happen, they don't like usuary.

Sun, 09/28/2014 - 22:55 | 5266022 Duffy
Duffy's picture

Peter Sutherland sure doesn't look Irish.  Or even English.

 

Any chance he's a crypto Jew?  Like Jamie Dimon, or Rupert Murdoch?

 

Goldman isn't just above the law theft - it is part of international, organized Jewry.

Sun, 09/28/2014 - 23:01 | 5266028 Falconsixone
Falconsixone's picture

Goldthieves, Enron, Globodyne whatever it takes. Drone strike'em if you can find'em.

Mon, 09/29/2014 - 00:03 | 5266074 Jorgen
Jorgen's picture

Lithuania is not in the Eurozone. Estonia and Latvia are. Sheesh, what's wrong with the geography education in the U.S.?

Mon, 09/29/2014 - 00:06 | 5266079 Joebloinvestor
Joebloinvestor's picture

Declare them an international criminal organization.

I wonder if they would throw some higher ups under the bus to save the scheme.

This just keeps reinforcing the idea that bankers are criminals that answer to no one.

Mon, 09/29/2014 - 00:17 | 5266095 jmaloy5365
jmaloy5365's picture

Take up arms against "your" government, considering its not yours.

Mon, 09/29/2014 - 00:19 | 5266100 devo
devo's picture

There's a reason Buffet made it one of his largest holdings.

Mon, 09/29/2014 - 03:25 | 5266231 SAT 800
SAT 800's picture

He got a very special deal; it's not one of his largest holdings.

Mon, 09/29/2014 - 01:25 | 5266142 TheObsoleteMan
TheObsoleteMan's picture

I came to the conclusion years ago that Chase and Goldman were the two main players at the Fed and Treasury Department. Collectively, their influence is enormous.

Mon, 09/29/2014 - 05:25 | 5266262 Comte d'herblay
Comte d'herblay's picture

Exactly except I would substitute the word Control for Influence.

Mon, 09/29/2014 - 05:25 | 5266263 Comte d'herblay
Comte d'herblay's picture

.

Mon, 09/29/2014 - 02:38 | 5266203 cooperbry
cooperbry's picture

Why I read ZH?  It is for articles like this.

Mon, 09/29/2014 - 05:55 | 5266272 Sandmann
Mon, 09/29/2014 - 06:04 | 5266275 Sandmann
Sandmann's picture

The Pecora Commission 1932 showed Americans all they needed to know about Banks but the third-rate, junk education system Americans developed after 1950 means noone remembers what happened the day before yesterday and collective memory has been erased.

Instead of educated and informed citizens you have pigs running around for more stimulation before slaughter. It is bizarre how easily control of the US Republic fell into the corrupt hands og Oligarch cliques especially in the 1950s onwards.

It starts to look as if atomic war is pre-programmed....we are now in the build up phase of nuclear rearmament and if we survive until Obama is tossed - maybe, perhaps, hardly likely, the US will elect a President with some sense..............so with their track record to date, simply prepare for nuclear war and choose a nice suburb for your last days

 

Mon, 09/29/2014 - 09:16 | 5266535 silverer
silverer's picture

First, Nixon pulling the gold out from behind our currency.  Next, Bill Clinton signing a bill to repeal Glass-Steagal Act of 1933, which was the law that kept Wall St. and banks from gambling with depositor's money.  Now, we have a totally compromised justice system, and it's getting worse.  It's the "every man for himself" rule now in effect.

Mon, 09/29/2014 - 12:38 | 5267059 Frankly Speaking
Frankly Speaking's picture

This article is a waste of time. A fantasy conjuring some redress for collusion between the fed and the banking system. For fucks sake, the fed was created in secret to represent the private banking interests. What the fuck does this author not understand about that?

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