Tying It Together: Massive, Pernicious Fraud, page 1
Pages:
ATS Members have flagged this thread 2 times
Topic started on 16-10-2009 @ 02:56 PM by Leo Strauss
Today's article by Karl Denninger expertly outlines the criminality of the finance and real estate industry. Deregulation and rampant greed are at the core, not to mention failing to learn from past mistakes. The real crash is coming.

The Market Ticker

The entire finance and real-estate "industry" is filled with massive, pernicious fraud, and we now have only one question remaining - will The Government do its lawful and mandated job, that of prosecuting the bad actors, or has it joined with the fraudsters, become one with them, and thus, declare itself as a gang of mobsters rather than a legitimate government? The latter, of course will beg only the question of what should be an ordinary American's response.

Let's start with what may be one of the most outrageous yet least-actionable examples: Alan Greenspan.

Alan Greenspan, the former Federal Reserve chairman, said Thursday that banking regulators should consider breaking up large financial institutions considered “too big to fail.”

Those banks have an implicit subsidy allowing them to borrow at lower cost because lenders believe the government will always back them up. That squeezes out competition and creates a danger to the financial system, Mr. Greenspan told the Council on Foreign Relations in New York, according to Bloomberg News.

This is the "former Fed President" who winked and nodded at what he knew was an unlawful merger of Citibank and Travelers, then personally advocated and lobbied for the passage of Gramm-Leach-Bliley - the law that not only tore down Glass-Steagall but retroactively made that merger legal.


[edit on 16-10-2009 by Leo Strauss]
Pages:     ^^TOP^^



USDA Forces Whole Foods To Accept Monsanto
  Posted 10 days ago with 99 member flags
Greece wipes out Citizens Debt!! Tells Bankers to suck it
  Posted 11 days ago with 78 member flags
The Collapse of The American Dream Explained in Animation
  Posted 18 days ago with 53 member flags
Obama on the verge of a deal with the banks
  Posted 16 days ago with 23 member flags
EU financial dictatorship agreed to by EU ministers last night
  Posted 18 days ago with 17 member flags
Bankers requesting that Greece become their debt slaves
  Posted 14 days ago with 15 member flags