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The deal was announced quietly, just before the holidays, almost like the government was hoping people were too busy hanging stockings by the fireplace to notice. Flooring politicians, lawyers and investigators all over the world, the U.S. Justice Department granted a total walk to executives of the British-based bank HSBC for the largest drug-and-terrorism money-laundering case ever. Yes, they issued a fine – $1.9 billion, or about five weeks' profit – but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses.
Bank of America torched dozens of institutional investors with billions in worthless loans, repeatedly refused to abide by contractual obligations to buy them back, evaded hundreds of millions in local fees and taxes, pushed tens of thousands of people into foreclosure using phony documents, ignored multiple court orders to stop its illegal robo-signing, and exploited President Obama's signature mortgage-relief program. The bank fixed the bids on bonds for schools and cities and utilities all over America, and even conspired to try to game the game itself – by fixing global interest rates!
Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and, most infamously thanks to a recent high-profile scandal, aluminum. And they're doing it not just here but abroad as well.
I mean, yelling about it on the internet, seems to work as a pacifier, but, what's it do?
forming an alternative political "Cake" party to platform a position and candidates for reform, now, that could very well do something.
That's a great idea. I think the original Occupy Wall Street could have been a great base for that party even at a global level. So hypothtically speaking what do you think needs to be done to begin something like that?
Actually the guillotine might make a perfect icon for such a party figuratively speaking. It would sure put the bankers on notice.
reply to post by AliceBleachWhite
That is brilliant. I love it.
The Cake party. Run on a platform of rooting out corruption. (Isn't funny how no one talks about that in their campaign adds or debates?)
By no means am I agitating for the employment of old Doctor Joseph Ignace Guillotin's ever popularly employed invention from the French Revolution, but, employing such as a symbol, as a message, as a warning, in forming an alternative political "Cake" party to platform a position and candidates for reform, now, that could very well do something.