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Guest Post: Psychopathic Economics 101

Tyler Durden's picture




 

Submitted by D. Sherman Okst of Psychopathic Economics 101

Psychopathic Economics 101

Psychopaths flew financial weapons of mass destruction (derivatives) into the twin towers of our economy, the housing market and the stock market.  Ten trillion dollars of wealth imploded in a cloud of dust.

Ninety-nine percent of the economic experts – financial planners, economists, economic professors, brokers, and investors – missed the largest bubble in history as well as the systemic risk that the bubble posed.

The National Board of Economic Research (NBER) (who is responsible for declaring a recession) was 9 months late calling the worst recession since the Great Depression.

How Economics Were Hijacked 

I advocate that the larger story here isn’t derivatives or the Financial Crisis of “2008,” but instead how economics has been secretly hijacked.

When I began researching for the book I’m writing I had a premise: “Corporatocracy” had replaced capitalism.  That is true, but I realized the more important underlying fundamental was how corporatocracy came about.  Corporatocracy grew out of souless corporations being given human status even though their sole purpose was creating wealth for the shareholders.  Corporations themselves became uncaring individuals – many of them run by uncaring individuals.  Psychopaths to be blunt.

Research I conducted revealed why and how psychopaths captured economics, how this catastrophe was missed and what the ramifications will be.  For more on corporatocracy please read “Why We Are Totally Finished.”  There is also a super documentary called “The Corporation” which can be viewed off my blog Psychopathic Economics.

“Semiopaths” & Psychopaths

Psychopaths aren’t limited to seemingly nice people who invite you over for dinner, then cut you into pieces and serve your fresh innards on a plate.  The World Health Organization has a “Personality Diagnostic Checklist” that is used in conjunction with this work.  You’ll recognize it by the check marks.

Psychopaths used the following five weapons to take control of our global economy:

  1. Political Economic Capture.
  2. Scholarly Economic Capture.
  3. Statistical Economic Capture.
  4. Mainstream Media Economic Capture.
  5. Regulatory Economic Capture.

All but one of these, Regulatory Economic Capture, are new terms that I’ve identified.

Political Economic Capture 

Both parties have been captured.  Blaming each other’s party or swapping parties isn’t a solution because there is only one party and that is the ultra elite party.  If you can’t rob clients of 3 billion dollars or steal 10 trillion dollars (and counting) from taxpayers you aren’t in the party – you are instead their food.

“Give me control over a nation’s currency and I don’t care who makes the laws”~Mayer Amschel Rothschild. 

This didn’t happen yesterday.  Watching this video you can see the former Chief Executive Officer of Merrill Lynch telling President Reagan to “Speed it up, and Ronnie responds, “Oh, okay.”

JP Morgan Chase & Company have their former executive in Donald Regan’s old position now, Bill Daley runs the White House today.

Political Economic Capture isn’t “just” limited to controlling presidents.  Brooksley Born headed up the Commodity Futures Trading Commission [CFTC] and warned of derivatives posing a risk to our economy back in the 1990s.  Greenspan, Summers, Rubin and Congress were dispatched to muzzle her as if she were a rabid dog.  You can watch the movie “The Warning” here.

Our 535 flag burning, constitution shredding congressmen and women aren’t public representatives – they are psychopaths (Ron Paul, his kid and a handful of other good eggs excluded).

They have voted in a separate set of laws.  Plutocracy allows them to do what you and I would be jailed for doing.  Being a legislator today is a get out of jail and get rich card. Congress isn’t a place to serve the public, it isn’t where you go to honor your country – it is where you go to earn wealth 150% faster than the American that serves you while you screw them.  All the while the congressman and congresswomen serve their evil psychopath master.

(Please click on book cover to hear audio interview for sources below.)

When Visa didn’t want its fees suppressed, Psychopath Pelosi was given a 5 million IPO “opportunity” for her dirty work.

The FBIs budget is regulated by the very people they won’t investigate rendering them useless.

Psychopath Kerry put off legislation that would adversely impact the price of his Frannie and Feddie’s stock, affording him time to dump his stock at a higher price to some mark who didn’t know what he knew.

Peter Schweizer wrote the book “Throw Them All Out” and in this super audio he and Jim Puplava detail how the “permanent political class enriches itself at the expense of the rest of us.”

In the United Banana Republic of America, if you’re a really powerful ex-senator and current elitist you can rob your clients of $3,000,000,000 and not go to jail or even be investigated.  All you have to do is bribe the president puppet with a $35,000 plate fundraiser and the mega banksters lawyers will take over the courtroom and argue with those trying to protect the clients who got screwed.

So when believe Ann Barnhardt  says, “You have to get your heads around this.  You have to get your heads around the fact that there are truly evil people in the world who do not give a crap about anyone or anything except themselves, their own personal wealth and their own personal power.  They would sell their grandmother to the Nazis for a nickel without hesitation if they thought they could get away with it.”

Watch James Koutoulas Co-Founder of Commodity Customer Coalition for MF Glaobal expalin how JP Morgan’s lawyers run the show.

Scholarly Economic Capture

About 70% of American families owned homes.  Two additional things needed to be done in order to sell junk mortgages as investments.  This wasn’t just junk, it was junk with a ticking time bomb rate reset sold to people with anything but stellar credit.  One, the criminals had to hijack scholars to get them to say good things about these financial WMDs.  Two, they needed to have their crony rating agencies falsely rate them Triple A.

Not only were the mortgages pure crap, but they had names like NINJA (No Income, No No Asset, No Job), No Docs (No Documentation) and Liar Loans. With 30% of loans during a given year of the boom being subprine these psychopaths destroyed your home’s value.

So scholars of the once best business schools were hired for chump change.  In return for $124,000 they wrote papers praising derivatives.  Perfume on horse manure.

Psychopath Diagnostic Checklist.

? Callous unconcern for the feelings of others.

? Incapacity for maintaining enduring relationships.

? Reckless disregard for the safety of others.

? Deceitfulness, repeated lying and conning others for profit.

? Incapacity to experience guilt.

Later when things didn’t work out for derivatives one of the “scholars” changed the name of the report he authored from “Financial Stability in Iceland” to “Financial Instability in Iceland.”

When caught on camera the psychopath just lies again to your face. “Typo” the psycho.

 As Ann Barnhardt says in this amazing audio interview with Jim Puplava: “You have to start acknowledging these people for what they are, and that is: Moral degenerates, basically sociopaths and psychopaths. Meaning they don’t feel any sympathy or empathy for other human beings.”

“They will lie to your face, they’ll look in the camera with this tremendous earnestness and lie with fork tongues through their teeth in order to advance their wealth and power.”

 This is the school where I was born.  The school where kids go into massive debt to be educated by psychopaths.  The school where parents unload massive amounts of their wealth to send their children to, for what they think is a super education.  No wonder we have #Occupy Wall Street.

? Deceitfulness, repeated lying and conning others for profit.

? Incapacity to experience guilt.

By far, Scholarly Economic Capture is the most dangerous economic capture, because future economist are being taught a lie – by liars.  Current economists read the lies these “scholars” spew and perpetuate them by not thinking for themselves.

Just because someone teaches at an Ivy League school doesn’t make them a scholar.  Psychopath Ben S. Bernanke is proof of that.

Listen to him here and then read the FY2005 FOMC minutes below.  They knew housing was in a bubble and were laughing at it.

If our military is going to capture Americans without trials and do whatever with them for being terrorists one could only wish that this would be their starting point.  But it wont be.

“–I offer one more piece of evidence that I think almost surely suggests that the end is near in this sector. While channel surfing the other night, to the annoyance of my otherwise very patient wife, I came across a new television series on the Discovery Channel entitled “Flip That House.” [Laughter] As far as I could tell, the gist of the show was that with some spackling, a few strategically placed azaleas, and access to a bank, you too could tap into the great real estate wealth machine. It was enough to put even the most ardent believer in market efficiency into existential crisis. [Laughter]~David Stockton, Dec. 13, 2005, economist and Fed comedian.

Statistical Economic Capture 

Our statistics are a joke.  Sadly we’re the brunt of it.  Our government budget and statistics make Enron look like choir boys.  The statistics have been tweaked by ‘semiopath” politicians many times over decades to make him look good.  The current result is that unemployment is reported at 8.x% or 9.x% when in fact it is at a depressionary level of 23.9%.  GDP is baked, off by trillions.  Inflation is over 10% and reported at 2-3%.

These politicians didn’t just lie to us about stains on blue dresses or office burglaries.  No, they ingrained their lies into our current economic statistics and we have few economic professors who catch this.

Our current politicians gain from 40 year old lies.

Mainstream Media Economic Capture 

If you want any decent economic news cancel your cable and turn off your TV.  My blog Psychopathic Economics lists the best sources for real economic news that anyone could ever wish for.  The media outlets are owned by the mega corporations, their reporters are, at best, repeaters.

Here we have my favorite reporter – just because I love the way she says “Dawler” talking about our dollar being superior to gold.

Video after the jump (scroll to the 13:50 point).

In any event, don’t bank on CNBS to bring you economic news, they didn’t in 2008, they won’t in 2011 or 2012.  They don’t even bother to correct gross lies spewed by Psychopath Ben Bernanke – housing prices have declined on a nationwide basis during the first Great Depression.

“I guess I am a Great Depression buff, the way some people are Civil War buffs. I don’t know why there aren’t more Depression buffs.~Ben S. Bernanke

? Callous unconcern for the feelings of others.

? Incapacity for maintaining enduring relationships.

? Reckless disregard for the safety of others.

? Deceitfulness, repeated lying and conning others for profit.

? Incapacity to experience guilt.

 Regulatory Economic Capture 

Ann’s words of incompetence ring loud and clear when we consider Regulatory Economic Capture.  The SEC is the poster child for ineptness.  Many senior level employees earning between $99,356 and $220,000 a year had amassed collections of pornography on our dollar.  So much porn that some filled up their computer hard drives and resorted to filling boxes of DVDs and CDs to store their troves of porn.

The CFTC head isn’t of the Brooksley Born fiber.  No, he is a derivative of the gang of those whose CEO proclaims to be Doing God’s work.

? Callous unconcern for the feelings of others.

? Incapacity for maintaining enduring relationships.

? Reckless disregard for the safety of others.

? Deceitfulness, repeated lying and conning others for profit.

? Incapacity to experience guilt.

Is anyone really surprised 7,000 clients who were robbed blind by MF Global?

Regulatory Capture isn’t limited to just economics.  Our inept Environmental Protection Agency [EPA] is allowing toxic carcinogens to pollute our world and create earthquakes with “fracking”.  Watch Gasland.  If you live on the east coast you might want to consider earthquake insurance.

And we have regulatory capture in our food supply chain.  Amazing how a country built on farming can be taken over by Regulatory Economic Capture.

Farmageddon Interview.

Reifications & Hapless Policy Makers 

The greatest irony and tragicomedy isn’t found in fiction books, plays or movies, it’s written by hapless policy makers and read later in current events or in history books.

A relevant, illustrative example: “I guess I am a Great Depression buff, the way some people are Civil War buffs.  I don’t know why there aren’t more Depression buffs.  The Depression was an incredibly dramatic episode-an era of stock market crashes, bread lines, bank runs, and wild currency speculation, with the storm clouds of war gathering ominously in the background all the while.  Fascinating, and often tragic, characters abound during this period, from hapless policy makers trying to make sense of events for which their experience had not prepared them to ordinary people coping heroically with the effects of the economic catastrophe [emphasis added, mine].”

That quote was authored by Ben S. Bernanke, the current chairman of the Federal Reserve Board.  It is from the preface of his book, “Essays on the Great Depression.”

Unemployment levels are another depressionary indicator.  Some 207 pages later in the book Bernanke lists the unemployment level during the first Great Depression at 20.9%.

There will be more depression buffs.  The only caveat being: They’ll be Second Great Depression buffs.  Everything Bernanke mentions in his preface we have going on today.  Ben S. Bernanke will go down in history as the biggest psychopathic hapless policy maker ever.

Irony.

Tragicomedy.

Welcome to the Second Great Depression.  Reality awaits.

 

Bank Runs

Currency Wars

My faith in the 5G’s remains strong:  G(*religious edit for my agnostic friends)d, Gold, Guns, Grub & the Government will screw it up.

Or as Ann colorfully says: “Your going to have to get away from paper and into physical commodities, the real deal.”  “…physical commodities.  And the rule of thumb is: If you can stand in front of it with an assault rifle and physically protect it, then it is real, it’s a real commodity.  That includes food, that includes water, that includes long guns and ammunition…gold and silver…”

Her audio is by far the best interview I’ve ever heard.  I highly encourage you to listen to it!  When it comes to not mincing words, calling a psychopath a psychopath and a crook a crook she’s got the biggest guns.

In a world where evil is sold as good, wrong is sold as right and injustice is sold as justice (to paraphrase John G. Hartung) we need more Barnhardt’s and journalists like Puplava.

 

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Sun, 12/04/2011 - 21:48 | 1945426 economics1996
economics1996's picture

World meltdown theme song.  Thanks Kyle Bass.

http://usa-wethepeople.com/2011/12/world-meltdown-theme-song/

 

Sun, 12/04/2011 - 22:05 | 1945483 trav7777
trav7777's picture

The Congressman didn't make the trades, but they just told someone who told their financial advisor.

That's how it works.  I have a business relationship (not voluntary) with someone who did a stretch in Federal prison for bribery; these people were in the business of putting money into the pockets of these fuckers.  There is a TON of shit going on in DC and it's crooked as shit and the reported wealth of these assholes is just the tip of the iceberg.

Mon, 12/05/2011 - 01:22 | 1945850 MurderNeverWasLove
MurderNeverWasLove's picture

All I want for Christmas is for the ZH folks to occupy the official occupy forum for a spell: http://occupywallst.org/forum/

If for no other reason, entertainment purposes.

Mon, 12/05/2011 - 02:12 | 1945893 Lednbrass
Lednbrass's picture

Out of curiousity I admit I had to take a look.

What a stunning display of stupidity and flat out insanity, if this is indeed the OWS crowd they are even bigger ignoramuses then I had feared.

Sun, 12/04/2011 - 21:48 | 1945427 Careless Whisper
Careless Whisper's picture

The Careless Whisper Sunday Update & Connect The Dots

 

US Gov Openly Admits Laundering Cartel Drug Money

http://www.nytimes.com/2011/12/04/world/americas/us-drug-agents-launder-...

FLASHBACK: WellsFargoWachovia Admits Laundering $378 Billion (with a B) In Drug Money

http://www.bloomberg.com/news/2010-06-29/banks-financing-mexico-s-drug-c...

FLASHBACK VIDEO: Geraldo Rivera Interviews Marines Protecting Poppy Crop

http://www.youtube.com/watch?v=aj-b3pB6M7s

Nevada Attorney General Refuses To Arrest Pair Charged With 200 Felony Counts In Robo-Signing Bank Fraud; Key Witness Found Dead, No Suicide Note

http://www.lvrj.com/news/notary-found-dead-in-lv-home-was-key-witness-in...

Grandma With Defribrillator Furious At TSA Lies

http://www.nydailynews.com/news/lenore-zimmerman-outraged-tsa-denies-str...

NY Real Estate Developers Award "Public Servant Of The Year"; Police Commish Ray Kelly

http://therealdeal.com/newyork/articles/44139?pic=347884

Latest Poll; Ron Paul In Second Place Ahead Of Mitt Romney, Fat Pig Wife Cheater Still Leads

http://www.thestatecolumn.com/articles/ron-paul-pulls-ahead-of-mitt-romn...

Ft Lauderdale Cop Accused Of Dealing Drugs While In Uniform; Isolated Incident, Not Related To Two From Last Month

http://www.sun-sentinel.com/news/broward/fort-lauderdale/fl-fort-lauderd...

Misunderstanding; GM Refuses To Buy Back Chevy Volts, Meant To Say "Will Consider"

http://www.leftlanenews.com/gm-akerson-misinterpreted-no-large-scale-vol... 

42nd Street Going Retro Under Bloomberg; Street Drug Dealers & Prostitutes Return

http://www.nypost.com/p/news/local/gloom_service_thugs_bring_fear_back_1...

VIDEO: MRI Of Female Brain During Orgasm

http://www.thevisualmd.com/videos/result/female_orgasm_in_brodmann_brain...

PHOTO OF THE DAY; Can You Identify The "Color Of The Day" That Plain Clothes NYC Cops Wore Yesterday?

http://www.nydailynews.com/news/crown-heights-maintenance-worker-saved-c...

VIDEO: Fat Pig Wife Cheater Candidate Has Economic Plan; Let Poor Kids Mop The Floors & Clean Your Bathroom

http://www.youtube.com/watch?v=vc7byJV0jVY#t=1m19s

HOLIDAY SEASON VIDEO OF THE DAY; (It's Not As Easy As It Looks)

http://www.youtube.com/watch?v=OZqz94ODz18

VIDEO: New Cadillac CTS-V Supercharged 556 hp Comes With Extra Big Air Bags (warning; may not be suitable for office)

http://www.youtube.com/watch?v=xFUv7rQaFvw

Mon, 12/05/2011 - 07:27 | 1946089 jeff montanye
jeff montanye's picture

yeah i came here hot and heavy to link to the dea money laundering story too.  see it has already been cited twice.  boy that ron paul is so outside serious political discourse what with his legalize drugs stuff.  crazy talk.  we need the war on drugs like we need the war on terror like we need the war on whistleblowers like we need the war on anyone who suggests bank bondholders should get anything less than every cent back of their hopelessly poor investment:  http://www.nytimes.com/reuters/2011/12/05/world/europe/news-us-ecb-orpha...

oh but collaborate in stealing a billion dollars of segregated customer funds and then bill them $900 an hour for the pleasure of watching you do it.  yes that seems about right.

Sun, 12/04/2011 - 22:09 | 1945503 trav7777
trav7777's picture

NAFTA was ABOUT laundering drug money.

There were 10s of billions in the few years after the treaty that showed up in border banks that was unaccounted for.

If you watch border wars on TV, you'll see that they use ultrasound density measurement devices and routinely find TONS of paper cash going into Mexico.  The drugs come this way.

As for 42nd street, well, diversity and the homeless live there and we all know that homeless people just need a house to be just like civilized SWPLs.  So the police look the other way.  WTF do we want to do, arrest more blacks?  DATS RAYCISS ain't it?

Mon, 12/05/2011 - 13:06 | 1947002 BigJim
BigJim's picture

How about  we just legalize drugs and let adults do what they want with their own bodies?

Sun, 12/04/2011 - 22:35 | 1945568 DaveyJones
DaveyJones's picture

Nice list. Ruppert did some work in this area. Afghanistan is about making pipeline and keeping a drug line     

Mon, 12/05/2011 - 07:39 | 1946103 jeff montanye
jeff montanye's picture

it is indeed a nice list.  note too that the nyt (finally) has an article on the explosion at the iranian missile site.  http://www.nytimes.com/2011/12/05/world/middleeast/blast-leveling-base-s...

when even the nyt has to cite, essentially, the international zionist conspiracy (also known as the israel/u.s. tag team) as the cause, one can see the salubrious effects of this crazy blog and its ilk. 

Sun, 12/04/2011 - 23:13 | 1945644 mailll
mailll's picture

No. Money has been printed for hundreds of years.  This is the magic bullet that they use. As far as I know, the (money) printing press is still in service.  And it will continue to be in service to their advantage.

Sun, 12/04/2011 - 23:40 | 1945698 In Fed We Trust
In Fed We Trust's picture

If the goal of 911 was the occupation of the Arab world
Then what was the primary reason for the crash/meltdown would
Occupation of your home as evidence by the Feds purchase of Freddie and Fannie Mae. A perfect hedge against the inflation they are creating.
The fed is now the biggest landlord in the US.

Mon, 12/05/2011 - 00:15 | 1945751 In Fed We Trust
In Fed We Trust's picture

If the goal of 911 was the occupation of the Arab world
Then what was the primary reason for the crash/meltdown would
Occupation of your home as evidence by the Feds purchase of Freddie and Fannie Mae. A perfect hedge against the inflation they are creating.
The fed is now the biggest landlord in the US.

Sun, 12/04/2011 - 22:44 | 1945404 slewie the pi-rat
slewie the pi-rat's picture

leftovers + trolls = bye-bye from slewie!

 

Sun, 12/04/2011 - 23:50 | 1945710 In Fed We Trust
In Fed We Trust's picture

Tyler, with all the knowkedge you have and with all the reporting you have done, i am surprised that you have not written a book yet.

Maybe thats the strategy, to drown us in the daily bullshit of it all, one article at a time.

And the thing to focus on the concept that derviative holders have legal precedent over stock and bond holders.

Mon, 12/05/2011 - 05:56 | 1946039 bank guy in Brussels
bank guy in Brussels's picture

The age of books is basically over. Books are 'cold', web journalism is 'hot' and live and much more effective.

Just look at what's happening with Karl Denninger with his web Market Ticker column, and his 'Leverage' book that just came out. Denninger is a popular web columnist (though he takes a lot of story ideas from ZeroHedge, often without attribution), but the book, well .... you can buy half-price used copies already, three weeks after it's out. Though I think it is up to approximately number 25,000 or so down from the top, on the 'best-seller' list.

The future of books is more a niche thing, the kind of book you want to keep and go back to again, for example, picture books connected with history or places or beautiful objects or a hobby you have.

When Tyler does a book, it will perhaps be a book of financially-related jokes and humour that you can go back to, and have a laugh again.

 

 

Mon, 12/05/2011 - 04:22 | 1945992 Vic Vinegar
Vic Vinegar's picture

leftovers + trolls = bye-bye from slewie!

 

  1. leftovers - ZH covers the news better than any place around but what is really new?  We all know the direction this train is headed.
  2. trolls - look at it as a good thing.  Reading the comments section here used to take many hours, as there were long and rich discussions.  Now it's easier to skim the comments and find the voices worth hearing.  It's been a real time-saver!
  3. bye-bye - I trust it is just for tonight.  You'd be a much better ombusdman than that slew ZH designated as ombusdman about a year or so ago.  Many of us here like HL Mencken...that shouldn't automatically qualify us to moderate this site.  slewie would be a better choice than most anyone here.

Speaking of trolling and HL Mencken:

HL Mencken: A newspaper is a device for making the ignorant more ignorant and the crazy crazier.

Katy Perry: Firework http://www.youtube.com/watch?v=QGJuMBdaqIw&ob=av2e

Sun, 12/04/2011 - 21:42 | 1945410 Michael
Michael's picture

TPTB did exactly as I wanted them to do for me in order to guarantee their own self destruction. It was necessary to go this route with the final solution, in order to fix a completely broken system. Complete and total worldwide economic collapse solves everything.

Sun, 12/04/2011 - 23:26 | 1945672 Matt
Matt's picture

You don't think there is a chance some of the plutocrats will emerge from the collapse with even more wealth and power?

Sun, 12/04/2011 - 21:51 | 1945422 dumpster
dumpster's picture

need more Barnhardt’s and journalists like Puplava.

 

we have many warnings sinclair chapman Dines GATA ron Paul the list could be extended al long as a person arms and legs put together what we need is more right thinking people less inclined to believe the sh...t

 how about more folks less willing to swollow the paviolivan call for the gruel bowl.

t brain washed.... still believing in the terror threat ,

still excepting hook line and sinker the 9=11 narrative,

 the gingrich horse manure, the last election when the group stupid cried as obama was elected,  when they keep voting in the same tired old politicians

Sun, 12/04/2011 - 21:47 | 1945424 Bill D. Cat
Bill D. Cat's picture

Is it too much to ask for a chick in a bikini if you're gonna take a picture of a pink gun ?

Sun, 12/04/2011 - 21:55 | 1945444 i love cholas
i love cholas's picture

at least she has fuck me pumps on

Sun, 12/04/2011 - 21:49 | 1945429 Everyman
Everyman's picture

Is NOW the time we get to "shoot back"?

Sun, 12/04/2011 - 21:58 | 1945457 TuffsNotEnuff
TuffsNotEnuff's picture

Is "we" meant to be you, me, and Martha Coakley ???

No question about it, they are thieves.

State of Massachusetts filing on the Big Five TBTF scamsters.

http://www.mass.gov/ago/docs/press/ag-complaint-national-banks.pdf

and this one hits the back side of it - pension fraud, etc.

http://graphics8.nytimes.com/2010/07/10/business/complaint.pdf

Read every word of them.

In total they stole $7.3-trillion. Between the mortgage frauds and the pension-and-investment frauds.

Sun, 12/04/2011 - 23:32 | 1945682 flattrader
flattrader's picture

This aired this evening...

http://www.cbsnews.com/8301-18560_162-57336042/prosecuting-wall-street/

...though the title of the double segment should have been "Not Prosecuting Wall Street."

It's been three years since the financial crisis crippled the American economy, and much to the consternation of the general public and the demonstrators on Wall Street, there has not been a single prosecution of a high-ranking Wall Street executive or major financial firm even though fraud and financial misrepresentations played a significant role in the meltdown. We wanted to know why, so nine months ago we began looking for cases that might have prosecutorial merit. Tonight you'll hear about two of them. We begin with a woman named Eileen Foster, a senior executive at Countrywide Financial, one of the epicenters of the crisis.

Read the transcript or watch the two segments.  Though Steve Kroft ties desperately to point the Department of Justice in the right direction, providing the name of a whistleblower from Countrywide who repeatedly warned management re: fraud and would not be bought off by Bankster of America the DOJ bastard just mouth platitudes and looks the other way.

Mon, 12/05/2011 - 00:15 | 1945752 cosmictrainwreck
cosmictrainwreck's picture

THANKS - I was gonna bring that up, simply with the following post: "BTW....did anybody get a load of that USELESS, DOUCHEBAG, PUSSY, CONDESCENDING PRICK PATHETIC EXCUSE FOR A "prosecutor/investigator" on 60 Minutes? That's what we got....25-year career be-a-good-biy and rise thru the ranks to_______ [namely, the classical un-stoppable "promoted to level of incompetence" syndrome] Just shoot me

Mon, 12/05/2011 - 08:47 | 1946169 flattrader
flattrader's picture

What was amusing was that the DOJ prick pretended like he never heard of woman who was fired from CW/BOA...which was odd, since she had a major whistleblow suit against BOA and WON $1M.  You'd think he'd pay attention to those filings and decisions....and be knocking on her door since she was a former fraud coordinator/manager for CW.

I almost laughed out loud when he said he'd be happy to talk to anyone who had knowledge of wrong doing.

Mon, 12/05/2011 - 01:17 | 1945843 Tuffmug
Tuffmug's picture

Proves the author's point that the political, legal, and economic systems  now  psychopath captured.  Now even if media exposes something, the psycopaths in control will do nothing to correct it.

Sun, 12/04/2011 - 21:53 | 1945433 Freddie
Freddie's picture

Hope & Change bitchez.  I am buying junk silver, brass, lead and beans.

Sun, 12/04/2011 - 21:53 | 1945436 Caviar Emptor
Caviar Emptor's picture

 

 I disagree, Trinity. I think that the Matrix can be more real than this world.

If you want any decent economic news cancel your cable and turn off your TV.

Sun, 12/04/2011 - 22:07 | 1945496 Freddie
Freddie's picture

People who watch TV are retards as they support the elites with their viewership.

Mon, 12/05/2011 - 00:00 | 1945729 Gidas19
Gidas19's picture

I disagree, because I was watching CNBC today and they told me not to listen to people iike you...

Sun, 12/04/2011 - 21:54 | 1945439 nmewn
nmewn's picture

Peter Schweizer wrote the book “Throw Them All Out” and in this super audio he and Jim Puplava detail how the “permanent political class enriches itself at the expense of the rest of us.”

In the United Banana Republic of America, if you’re a really powerful ex-senator and current elitist you can rob your clients of $3,000,000,000 and not go to jail or even be investigated.  All you have to do is bribe the president puppet with a $35,000 plate fundraiser and the mega banksters lawyers will take over the courtroom and argue with those trying to protect the clients who got screwed."

Highly recommend this book...as well as Morgenson-Rosners "Reckless Endangerment".

Sun, 12/04/2011 - 22:04 | 1945480 TuffsNotEnuff
TuffsNotEnuff's picture

The total is $7,300,000,000,000.

$1.6-trillion for bogus subpriimes.

$0.5-trillion for bogus prime-rate mortgages.

$5.2-trillion for CDO pension/investment fraud and the "synthetic ownership" misuse to hide bribery-driven-"AAA" based CDS scams.

The $3-billion scams are lunch money for these gangsters

Btw: google - florence cioffi vehicular manslaughter - if you really want to tempt nausea..

Sun, 12/04/2011 - 21:54 | 1945440 TuffsNotEnuff
TuffsNotEnuff's picture

They are thieves.

Faking the Sarbanes-Oxley reports is in there, too. Along with forging the mortgage papers and selling the "Abacus Class" shit-paper frauds.

They are thieves.

Tell me the CITI whores weren't physically intimidated by Angelo "It's me!" Mozilo.

Any system can be turned bad. American financial capitalism did it in spades.

 

Sun, 12/04/2011 - 22:02 | 1945470 Jack Burton
Jack Burton's picture

It's guys like this that will be the first to be carted away to a secret CIA torture prison in Poland and held for life with no access to the criminal justice system. The Government has it's masters to serve and trouble makers who rain on the 1%'s parade must be made to pay the ultimate price.

Come on, we live in the free country of America, we are free, the economic system is a free and fair market place open to all who want to work hard and create jobs and prosper. It is people like the writer who hate us for our freedoms and thus try and bad mouth the leaders of the free world and the obviously free and prosperous job creators who run American business.  The system is of, by and for the people. We maintain a military to fend off the haters of our freedoms. Our secret services work to prevent freedom haters from attacking the system that provides freedom and justice for all. The way some people talk, you would think that evil forces had highjacked the constitution and the democratic justice system and the free market.

 

Sun, 12/04/2011 - 22:52 | 1945608 akak
akak's picture

War is Peace

Freedom is Slavery

Ignorance is Strength

 

And, I would add:

 

Obama leads the USA

Fair and open American Elections

Fox News

 

Sun, 12/04/2011 - 23:47 | 1945707 Dburn
Dburn's picture

You need to put snark in there, for us dumb-asses who might think your fucking serious.

Mon, 12/05/2011 - 00:15 | 1945747 Tuffmug
Tuffmug's picture

Either you forgot to add SARC ON/ to your post or you have outted yourself as one of the psychopaths.

Sun, 12/04/2011 - 22:07 | 1945494 williambanzai7
williambanzai7's picture

Congress is working on passing a connect the dots law. If you connect to many dots, you can be incarcerated indefinitely with citizenship revoked.

Mon, 12/05/2011 - 00:02 | 1945730 Gidas19
Gidas19's picture

Can they revoke the citizenship that I dont have?

Mon, 12/05/2011 - 13:16 | 1947040 BigJim
BigJim's picture

They'd never revoke citizenship - that would mean no more taxation!

Sun, 12/04/2011 - 22:12 | 1945510 apberusdisvet
apberusdisvet's picture

The NRA should put out a memo to all members that "if they come without a warrant, shoot first and worry about the consequences later".  If enough signed on to this, maybe the psycho-sociopaths would have 2nd thoughts.  Or maybe not.

Sun, 12/04/2011 - 22:17 | 1945529 Freddie
Freddie's picture

Sadly the NRA back a lot of Democrats last election.  Not that Repubs are not much better but their leader is not an Islamic.  Gun Owners of America is better than the NRA.

Mon, 12/05/2011 - 10:16 | 1946329 Lednbrass
Lednbrass's picture

While GOA may be better, NRA shouldnt become an organization that only backs the repubs- that would be stupid.  They are a one trick pony  (2nd amendment) and have been effective that way, refusing to back dems who are pro-gun ownership would be short sighted and stupid.

Sun, 12/04/2011 - 22:13 | 1945518 economics1996
economics1996's picture

Dr. Sherman this crap has been going on since the early 20th century.  Write about the fraud in economic text books like I do and cut the self righteous crap.  If you expose the fraud taught to college students at least you are doing something productive.  Tyler should ask me to write a post about fiction taught to our students creating mounds of intellectual shit like Obama running the country into the ash heap of history.

Then again I am just another fucking red neck with too much education for my own good.

http://usa-wethepeople.com/2011/07/usa-university-economic-propaganda-exposed/

Shit like this I wrote about.  Just another dumb red neck.

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

Sun, 12/04/2011 - 22:28 | 1945553 rambler6421
rambler6421's picture

tyler durden found this article on financial sense.

Sun, 12/04/2011 - 22:48 | 1945602 economics1996
economics1996's picture

Tyler needs to ask me for my shit.

Sun, 12/04/2011 - 22:36 | 1945572 jmc8888
jmc8888's picture

Rand Paul is a fascist (but most are).  Ron Paul is still a monetarist, and thus is capable of the same bullshit the Keynesians are, but in the Oligarchical Austrian sophistry way.   A different set of bullshit, is still bullshit.  That said, everyone else looks worse.  Ron needs an education that Austrian monetarism is not what our founding fathers created.  It's antithetical to it, just like Keynesian-ism.

Other than that, this article is quite good.

 

Impeach Obama

Glass-Steagall

American Credit System

 

Sun, 12/04/2011 - 22:45 | 1945592 Richard Chesler
Richard Chesler's picture

According to primary psycopathy researcher Robert Hare, one percent of the US population are psycopaths.

NO SHIT!

 

Sun, 12/04/2011 - 22:54 | 1945610 akak
akak's picture

Run along now, Lyndon LaDouche.

 

PS: Isn't that batshit insane egomaniacal fucker ever going to die?

Sun, 12/04/2011 - 22:39 | 1945585 Teddy Turner
Sun, 12/04/2011 - 22:48 | 1945603 In Fed We Trust
In Fed We Trust's picture

At least they didn't blame it on a group of Arabs welding box cutters.

Sun, 12/04/2011 - 23:16 | 1945649 mailll
mailll's picture

The lack of belief in God is destroying this world.  But in the end, God will save it.

Sun, 12/04/2011 - 23:53 | 1945716 malek
malek's picture

Highest props to Ann Barnhardt!

Sun, 12/04/2011 - 23:58 | 1945725 niccolo and donkey
niccolo and donkey's picture

Barnhardt is garbage.  She's only upset that her people aren't in power and she tows the nonsensical War on Terror line.

Mon, 12/05/2011 - 00:45 | 1945791 Max Fischer
Max Fischer's picture

 

 

Rothko rules!

Max Fischer, Civis Mundi

Mon, 12/05/2011 - 00:14 | 1945739 SMC
SMC's picture

TPTB have put themselves in the corral leading to the slaughterhouse (they have slit their own throats). Soon their fiat "money" will no longer be accepted for goods and services by those who can supply basic needs.

A house does not know what it's value is, it provides shelter and comfort regardless of it's market price.

Farm land does not know what it's value is, with a little effort it provides the means to grow and for your livestock to graze regardless of it's market price.

Soon it will not matter if a carpetbagger has 1 Million, 1 Billion, or 1 Trillion dollars, or euros, etc... they are worthless except to pay taxes (which is how I expect to see more and more crooks seizing real property over the near term). The final death rattle of local, state, and national governments in their present form will be insane taxation and failure to respect the rule of law. Once the currency has lost all value their agents will have to resort to acquiring their basic needs by force which will result in civil war.

With approximately 2/3 of our national oil usage going towards agricultural production, preparation, storage, inspection, transportation, etc... and approximately 2/3 of our oil imported - a major breakdown in the national sustenance chain could be expected to be shortly after runaway inflation leading to the refusal of oil importers to accept dollars (except at the point of a gun... bribes, or threat of a US bombing campaign, etc...) so one might expect the government crooks to starve.... except for those 5 million+ FEMA meals... well they won't last forever and with the government track record will probably get lost! ROFL!!

If the government had allowed free market principles to work and not bail out wall street a few years ago, there might have been some hope. Now we have an managerial epidemic of high risk - don't worry about the down side, privatized gains expecting socialized losses. Expected life span of this plan? Not very long.

How the majority of the US population expects to survive in their cities and sub divisions when the cost of transportation in their fiat currency is 100+ times current levels, their wages not keeping up, and they discover that they can not buy a gallon of milk or a dozen eggs at any price in their currency or gold for that matter (sorry guys but when push comes to shove, gold is just not that valuable to us when we're busy machining and welding spare parts for our existing equipment, refining vegetable oil, making methanol, or digging out grandpa's ox yoke!, etc...), maybe BigAg will want the gold but they are going to have a very hard time with storage and transportation of their products. ROFL!!!

Thinking about it - that would really suck for the person trading the gold they have been acquiring over the past few decads being traded away an ounce or half-ounce at a time for a dozen eggs here, few gallons of clean water, a broiler, etc... but when your thirsty and hungry....

To some of us the worldwide financial mess and criminal government buffoonery is just a side show. The bottom line is that we are going to go the way rabbits do when they exhaust all the food in an geographic area and just can't figure out to stop breeding and/or migrate elsewhere, with our current technology 7 Billion+ people is only supportable with readily available liquid energy - as liquid energy becomes scarce - so will people. Eventually equilibrium will be reached and I hope the lessons learned from this era will guide the future stewards of our little "spaceship Earth".

Survival will not be a problem for those who are willing to continuously learn and adapt, work hard, not panic when they starve a little from time to time, stay focused on what is important, stay independent, and are willing to help others defend their property.

Mon, 12/05/2011 - 01:59 | 1945900 Lednbrass
Lednbrass's picture

What do you base the "2/3 of oil usage toward agricultural production etc." on?

Mon, 12/05/2011 - 11:11 | 1946531 SMC
SMC's picture

The concept that really opened my eyes was although we can accurately account for direct production oil related dependencies (fuel, lubricants, fertilizer, heating, local transportation, etc...), and have directionally correct estimates of various indirect dependencies such as commercial transportation, processing, packaging, storage, consumer transportation, storage and preparation, waste disposal, as well as the insanity of debt financed government subsidies (another slit your own throat consideration) – was that we were only considering the supply vector of the system.

An important component of the demand vector is the oil dependency of the jobs (labor) performed by consumers in order to purchase the foods and ethanol they consume.

Farmers and ranchers are not going to produce for “free” although TPTB may think they have that all taken care of with their debt financed subsidies in a soon to be worthless fiat currency... hmm... maybe BigAg will save the day! ROFL!!!

Become as independent as you can.  Intellect is no substitute for ability.

References:  http://www.ers.usda.gov/Publications/ERR94/ plus considerations from

http://www.sustainabletable.org/issues/energy/ , http://www.fromthewilderness.com/free/ww3/100303_eating_oil.html , 

http://www.chrismartenson.com/,  http://www.dieoff.com/ ,

http://rogerpielkejr.blogspot.com/2011/03/maybe-if-we-dont-mention-it-no-one-will.html ,

http://www.slate.com/articles/news_and_politics/hey_wait_a_minute/2005/07/corn_dog.html .

 

Mon, 12/05/2011 - 00:19 | 1945759 mephisto808
mephisto808's picture

"So when believe Ann Barnhardt  says, "

Spell check your sh*t before you publish it dude... come on. Lazy. 

Mon, 12/05/2011 - 00:51 | 1945801 Grand Supercycle
Grand Supercycle's picture

SP500 bull vs bear battle maintains bearish bias after Friday price action and more downside expected.

My long term indicators have continued to warn of US Dollar strength and EURO weakness and these signals have increased since 2009. The overdue dollar rally should be substantial.

http://stockmarket618.wordpress.com

Mon, 12/05/2011 - 01:26 | 1945861 HungrySeagull
HungrySeagull's picture

What you are experiencing is the hang time prior to the great fall.

 

Such massive imaginary market that dwarfs a Neutron star in mass takes a while to obey gravity and drop.

Mon, 12/05/2011 - 02:34 | 1945926 navy62802
navy62802's picture

When this mother finally blows, it's going to be historic and there are going to be countless millions of people who are woefully unprepared mentally, financially and physically.

Mon, 12/05/2011 - 07:04 | 1946073 honestann
honestann's picture

What is most sad is that only about 0.01% of people have habituated their mental processes to regularly see and recognize spades as spades.  They are people who trust their own experiences beyond all else, and trust their own careful, honest, curious, reflective mental processes above anything they've ever read or heard from others (while remaining on watch for legitimate evidence).

Example.  When I was a little kid (6~8) I got hooked on astronomy and other physical sciences, and went through a period of reading just about any sci-fi short story I could find.  In 1968 (at age 8) I wrote a sci-fi movie script in which the USA officially became the USSA in the year 2026.  I didn't identify in the story when the USA became the USSA in fact, but the premise was, it had already happened to a large degree by 1968.

Everyone, and I do mean everyone, thought I was completely off my rocker.  They all thought they were living in the land of the free and the home of the brave, and they had individual rights that the government protected.  When I asked how "freedom" was compatible with "the draft" and fighting wars that had not been declared, they waved their hands around, raised their voices several notches, called me names, and ran away as quickly as possible.  It was clear that nothing significant was restraining the predators then, and that smarter predators always identify and take over any "institution" that holds power.  The evidence for this understanding was available to every average 6~8 year old, yet seemlingly nobody else was willing to be honest with themselves (always the ultimate "sin" in my view).

Needless to say, I drew the correct inferrence - that people are completely and utterly intellectually corrupt and insane... on principle.  Or as I would say today, more like "willingly habituated".  They had been encouraged and trained to habituate their brains to accept overt, massive contradictions... and never to focus on them, never to question them, never ask about them, never wonder about them.  They destroyed their own brains, or more precisely, allowed others to destroy their brains.

I don't agree with the religious noise this Ann character utters.  But otherwise she is just about the first person willing to say what I say, in roughly similar ways to how I say it.  I guess most people simply cannot bring themselves to admit how utterly wrong they've been about "authority" their entire lives.  Strangely, Ann apparently fails in this "authority worship" category on other topics, since apparently she believes in a fictional "ultimate authority" to which we and reality are and must be overt slaves.  That's a crack in her otherwise clear sight and understanding of the nature of the predators-that-be and predator-class (my terms, not hers).  But congrats for calling a spade a spade Ann.  Is there something about those of us called "Ann"?  Hmmmm.  Very strange coincidence.

In case anyone remains foggy about what's going on, all the "captures" described in the article are simply components of the fundamental capture happening.  That is, the human predators of this world have captured the producers.  This has been the fundamental story of mankind from the beginning, and shall remain the fundamental story of mankind until they predators are eliminated.  And if they are not eliminated soon, the producers shall be mostly eliminated and the few remaining producers who are massive sheep will become utterly complete overt slaves (even more than today).  What is worst, modern technologies make it quite feasible for the predators to assure earth becomes a permanent slave planet.  If the producers do not start treating predators in the way predators need to be treated, it will soon be game over for mankind.  So this is your last chance, producers.  Set your phasers on vaporize and begin the hunt.  Otherwise the game will soon be over.  And so will you.

Mon, 12/05/2011 - 09:31 | 1946217 Apocalicious
Apocalicious's picture

Morlocks and Eloi...

Mon, 12/05/2011 - 10:44 | 1946442 Shizzmoney
Shizzmoney's picture

Ann makes great points, but man is she a crazy bitch!

Good piece here.  Another set of proof why we are just so fucked.

"If you have selfish, ignorant people....you are gonna have selfish, ignorant leaders" - George Carlin

Mon, 12/05/2011 - 11:03 | 1946512 Gauthijm
Gauthijm's picture

Superb analysis

How can anyone disagree with most, if not all of this.

These are intelligent people, even though the actions they take are so unbelievably stupid that I always wondered.

but this explains it more, an agenda at work , and some ineptness.

 

I will follow this blog now, that's for sure

 

On other related notes, is Ann married ? I think I have just found my soul mate, she is awesome; pretty, brainy, tough and she and I love our guns & gold :)

match made in heaven!

take care all!

JMG

 

Mon, 12/05/2011 - 11:18 | 1946553 Nostradumbass
Nostradumbass's picture

Great article.

Accessing the Reagan video link crashed my computer though...

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