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If MF Global had owed Goldman & JPM money on counterparty derivative bets, you can sure as hell bet that MF Global would have been bailed out a la AIG style (i.e. 180% on the dollar).
yep. this might even be a ploy to get the average joe to BEG for bank bailouts in the future (since OBVIOUSLY the bailout can now be seen as benefitting Main St as much as Wall St).
they are such scum I put NOTHING past them
WTF, no CLASS ACTION yet?!
This piece of shit says the type of things you would expect from some one who looks like:
Schmiegal + Crack Head + Aids/Cancer Patient + Crypt Kepper + Rat + Skeletor = Gary Gensler!
Banks, brokers, and financial "innovators" can be lumped into one class: Crooks.
White-collar-criminality is the new norm. Corzine needs to go to prison. Gensler needs an ass woopin'.
An example of "Freedom to Decide Who Fails"
Exactly. White collar crime also presents a unique opportunity for one group - OWS.
This is the point that should be their rallying cry. Everybody can agree that criminals on Wall Street should go to jail. Focus on that, and the movement could really build momentum.
Plus, if they start by demanding Corzine be prosecuted, they can distance themselves from Obama and the professional left and establish themselves as a movement of the people, independent of party bickering.
So right you are. But what of the FED PONZI?
Can you say; Counter Party Risk? See how money, created out of thin air has exploded the worlds financial sector and, it can disappear as if it never existed: Evaporation of Wealth on a Vast Scale: How $Millions - Trillions Can Disappear
When it comes to financial terrorism, waged against the people, the President has abdicated his Constitutional Oath and that is an act of Treason.
See: HOUSING: To Solve The Problem You Have To Force Very Large Banks To Recognize Loses
THE FED’S DEBT SLAVERY ECONOMIC MODEL is the genesis of funding for the elite money power. Such power concentrated in the hands of so few is the most pernicious corrupting force, for which all others follow.
See: END THE FED: THE FIRST STEP IN RESTORING OUR CONSTITUTIONAL REPUBLIC
- Inflection Point
It does bear repeating.
The 7 easy steps to controlling the world without doing any physical, mental or any other kind of work (let's call it, oh, I don't know - The Red Shield Method):
1) Buy off/bribe/blackmail/extort/destroy any lawmaker/politician/military officer who poses a risk of thwarting your plans. *Very important first step.
2) Create fiat using nothing more than an computer/ledger entry, backed by nothing of inherent value, that has legal recognition, and in fact, is a monopoly currency with no legally recognized alternatives.
3) Circulate such fiat via loaning it out, charging interest upon it.
4) Successfully get nations (war is a fantastic motivator to borrow), business entities and individuals (food is a great motivator) to borrow said worthless fiat that was conjured from thin air, and pay interest, pledging their real, inherently valuable assets in exchange for said worthless fiat (i.e. meaning that their real, inherently valuable assets can be taken if the conditions that make it impossible for them to repay the worthless fiat are [intentionally] induced).
5) Set the rate of interest payable on the loans of fiat that was conjured from thin air, solely at their discretion.
6) Supply more of such fiat, or withdraw fiat, to/from the system, at their discretion, bringing about inflation or deflation.
7) During times of large scale loan defaults, on the repayment of the fiat that they conjured from thin air, backed by nothing of inherent value, seize the most valuable assets that exist on the planet, many of which mankind depends on for its very survival.
Actually, I am wondering if this wasn't a "collateral squeeze" by GS or JPM. "Separate accounts be damned, this is a collateral call, pay up asshole."
Smells like it, doesn't it? There are no exchanges for this shit, and no solvent bankers left who can actually parse these trades, so where did the "margin" call come from?
Umm, MFG does in fact owe JPM money, and a lot of it, on an unsecured line of credit. Did you even read the bankruptcy filing?
And to Tyler's original article, the CFTC and the SEC do not have the "freedom to jail", as they are only able to assess civil penalties; all criminal charges have to be brought by the DOJ, by law. Which, typically, involves extensive investigatory work, followed by an indictment, and then a trial, typically by jury, etc., because, you know, of all the Bill of Rights innocent-until-proven-guilty stuff.
Honestly, all the rhetoric around here would be a lot more compelling if there was a demonstration of even the slightest familiarity with the workings of the law.
Sorry Bud you can be indicted and arrested immediately at a crime scene. The news should have broke by Corzine being lead away in handcuffs. Now get back to CNBC where you belong.
That's true. JPM is owed the most at 1.2 bn. The question then is how much toxic Euro bond crap did they buy up from the big players? How do the two compare?
Call me a cynic but I'm doubtful that Corzine ends up anywhere but on the beach looking good, feeling good.
"Freedom to Bail. Freedom to Fuck Up. Freedom to Bonus."
Freedom's just another word for no one left to accuse.
"Life, liberty, and the pursuit of failure." The new American slogan.
BTW, upon hearing this news, the Average American...oh, who am I kidding here, right?
The Average American has been rendered thoughtless by years of Kardashian and Idol overload.
The continued fascist takeover of the world may proceed accordingly.
when your working three part time jobs, seven days a week at the employers scheduled discretion, and your partner juggling between getting the kids off to school, and/or back home to be fed - doesn't give one much time to follow the news,... especially when a roof over your head and food on the table are at maximum survival mode today
And to all the Goldmanites still employed at God's Shrine, its called the 'Freedom to receive bail'
you have to apply the 'Madoff rule' to situations like this. You have to steal tens of billions to be jailed. Look @ Mozilla.. dude's still well tanned and free.
So if you're going to risk. risk tens of billions. That's the lesson learned by big money.
So in other words .... the market is lawless. Only works when they need it to.
It is just too hard to trace down all the money and gather evidence against the guilty parties. Give CFTC a break. They arent up to the task.
Their federal regulator watchdog jobs are just too HARD to actually perform! But theyll keep the lavish pay, 'above the law' status all the same since their jobs are so 'important' and all.
gensler is a bankster; some say a "rothschild" cabal agent
quite the dog & pony show he's been staging for the last few years
way to bich-slap him, tyler!!!
Then they should send their fat paychecks and bennies to me.
I get that.. but if they need a break than what does that mean? are they not up to the task, is the task undoable .. what? They have a mandate to protect the public interest what break do they need.
They don't need a break, when you know that YOU are going back to the gvt backstopped "private" sector you don't burn those bridges.
As long as you rotate the same scum in and out they will always find it too tough a job.
They are stacking chips to use on the outside.
simple and in your face.
I tend to agree. What profession gets a break? None that is professional.
Gensler should be IN JAIL , the scum.
Do somethng you idiot twat.
We know there is FREEDOM TO FAIL, you and the other clueless shills demonstrate that every day.
What a clown show.
Hell is far too good for this kind of person.
I hereby sentence him to New Jersey. Camden, New Jersey.
there seems to be no limit to the spin these soulless motherfuckers will sink to in order to preserve their own kind.
fuck the pitchforks, break out the guillotine.
Agreed - to watch the pom pom wavers at CNBC makes me physically ill.
They are ATTACKING Sean Egan of Egan Jones for their downgrade. Are you f'ing serious? THEY ARE DOING THEIR JOB you dumb f'ers!!
If people were going to jail for this stuff - it would stop happening - simple as that.
Waterboarding all around!
"Mr. Gensler first spotted a potential shortfall late last week, personally calling MF Global’s attorney to alert the firm. But it was not until around 2 a.m. Monday morning that the firm fully recognized the magnitude of the missing money."
I'm seeing so many stories about the 2 a.m. discovery of the "missing money" (aka the stolen money) that I'm starting to think that it was standard operating procedure to comingle client money with frim money, and all these stories are an intentional plant; just my opinion.
It is just about the only way these firms have ANY money.
"I'm starting to think that it was standard operating procedure to comingle client money with frim money"
I think Vinny McCrudden put it best...
"...and that fucking corrupt fucking midget [G.G.]"
So who's freedom becomes trampled in the TBTFs? Rhetorical.
HOT chicks... screw corzine - http://hedge.ly/gFWVSm
One reason I now search for your avatar, nice.
very nice, full-hipped woman. +100
Wow. Thank you.
expect Obama to promptly make the pubic circuit
expect Obama to promptly make the pubic circuit
I would love to punch Gensler in the dick
... that would be anywhere north of the shoulder
the Goldman cockroaches are everywhere.......EXTERMINATE !
This fucknut misses the point. The freedom to fail is obvious everywhere, it is the having to "suffer the consequences of the law and your actions" part that isn't working numbnuts. Get the god damn guilotines out already.
Crash the fucking system already so we can find out exactly what the value of everyone's labor is.
Isn't Gensler the corrupt POS that allows PM manipulation ? Like he is a beacon of Truth or something
Does anyone know where Corzine is? Has anyone seen him? Has that self-important bastard left the country or is he going to allow the authorities to arrest him?
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