Posted by: Lars Olavson
Comment: #1
Thu Nov 5, 2009 8:04 PM
So Professor Williams is fine with Goldman-Sachs selling securities they know are crap while simultaniously making a tenfold larger killing betting those securities will default. Or partner with Bernie Madoff and the other three big investment banks running a proprietary trading program on NASDAQ called PRIMEX which cost $26 million in fines after pocketing billions in profits. Corporations always agree to pay the paltry fines without admitting any guilt for the crimes they commit. Its a pattern befitting Government of, by and for the Corporation. The SEC is manned by people who take a huge cut in pay expecting to land lucrative parnerships with Wall Street's favorite Law Firms after turning a blind eye to Wall Street's crimes. Pensions and 401Ks have been looted systemically and they can't wait to do the same thing to Social Security.
And its AOK that the FED, Treasury and every major Wall Street firm except Bear-Stearns met secretly just before a naked short selling scam (counterfeiting stocks by failing to reconcile acccounts daily) collapsed that firm followed by a similar attack on Lehman Bros. All of this activity involves Government and Wall Street conspiring together against the common good and is timed to squeeze an extra $700 billion out of Congress at the end of Bush's term. Paulson engineered the largest scam in the history of mankind for the benefit of his former employer which enhanced his portfolio handsomely. It is highly likely that these bailouts have flowed to our foriegn creditors, who would otherwise have sued Goldman-Sachs, Merrill-Lynch, Morgan-Stanley and Smith Barny into oblivion, after cutting off all furher lending. No one in Government or Wall Street wants the public to know this. We are not in a business cyclic recession. We are in a planned demolition whose primary targets have been poor and elderly neighborhoods. ProfessorWilliams is right in that our Government has failed to do its job, but how do you stop criminal Corporations? Do you dole out fines that encourage more of the same or fix the regulatory structure in such a manner that these profitable suspect games, so destructive to economic prosperity, are stopped? Do we have any three strikes you're out laws against Corporations? We don't, but we need them and only Government is big enough to stop them. Instead, what we have is Government of, by and for the Corporation. Not what our founding fathers had in mind, but the logical conclusion to the corrupting influence of big money on American politics. Both parties have betrayed Democracy in order to have enough money to run lame campaign commercials. The system is broken and the primary cause is Wall Street and their phoney perpetual free market propaganda campaign. No other country practices it.
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