The Wall St. Conspiracy

some of the Wall St. conspirators

 

Why is it that no one is calling the world-wide, economic meltdown what it is, a conspiracy? I am sadly aware of the Left’s fear of being labeled “conspiracy nuts” or “too soft on terrorism” (which replaced the old ‘too soft on communism”) & as it’s becoming ever more clear, the so-called Democratic party, are de facto co-conspirators. As has been recently revealed on Democracy Now!, more than 240 members of Congress are millionaires or multi-millionaires. And it doesn’t take a rocket scientist to realize who these senators & representatives are loyal to & who they protect. But what I can’t figure out, for the life of me, is why the American public isn’t calling for the corporate robber barons & their political lap dogs’ heads on a platter? No matter how ill-educated or uninformed the citizenry may be, it’s so outrageous & glaringly apparent that they are screwing us all so royally, and humanity may never recover?

how the corporate cockroaches see us i.e. rats in a maze

Let’s see, we are suppose to believe that Wall St.’s major banks, investment houses, mortgage lenders, credit rating agencies, & the federal agencies charged with the responsibility of overseeing or regulating these institutions, were all just asleep on the job & once again, it was just a few ‘rotten apples?’ Give me a break! There had to be collusion and conspiracy for a crime wave this spectacular to have gone on for as long as it did. The interconnections & interdependence of these institutions is too elaborate or intricate for those at the top to not know what was going on. I am reminded of when Reagan was finally forced to testify regarding his part in the Iran/Contra Scandal and he was asked something like 270 questions and approximately, 245 times his answers were “uh, I don’t recall,” “I can’t remember,” “I can’t recollect,” etc. And speaking of forgetting, don’t forget that it was primarily Reagan’s doing that unleashed the wave of deregulation which led to the Savings & Loan Scandal and the current economic melee. Yes, Reagan that darling of the rich & rapacious, cold-hearted class.

Pursuing this further, Reagan made a career out of scaring us with “the commies are coming, the commies are coming,” and he even dubbed it “the speech.” He gave this speech for over twenty years as a spokesman for G.E., you know, that corporation that “brings good things to light.” And G.E. was one of the largest producers of nuclear energy & waste in the U.S. In addition, G.E. owned NBC and silenced critics of Reagan and the Reptile class e.g. Phil Donahue, CBS & Sixty Minutes, etc. I know this may be a lot to take in & that some of you who read this will label & write me off as a conspiracy nut also. But I don’t care. I’ve grown use to it because I have been mocked & ignored for most of my adult life. How is one suppose to condense thirty years worth of serious pursuit of the facts into a few brief paragraphs the average person can comprehend and believe? No, my friend, it’s not the communists nor the terrorists that we need to be afraid of, it’s those titans of finance we glorify in the media as exemplars of wisdom & success who are the greatest danger facing the world.

the courageous & honest, Brooksley Born

Consider the fate of just three among many, who spent their careers trying to warn Congress & the American public of major crimes & calamity approaching. For instance, John O’Neill, who was the F.B.I.’s top, counter-terrorism expert tried repeatedly to warn his superiors in the F.B.I., including the director himself, of an impending terrorist attack & that it would probably occur in New York City & be of colossal proportions. His reward? He was ignored, demoted, & given a Mickey Mouse position and he became so disgusted with the cowardice & corruption within the F.B.I. that he quit and took a job as head of security for the World Trade Center and died on that infamous day.

Or what about Brooksley Born, who testified before Congress 17 times about the coming financial disaster we are currently experiencing. Her thank you? She had her power taken away from her. The old boys club (the financial/economic wizards of Wall St. & the federal government, smashed her i.e. destroyed her reputation & credibility.

the good old days of the Great Depression, could be coming again?

And lastly, a gentleman who worked in the top office of the Pentagon that deals with overseeing its budget (unfortunately, I can’t recall his name right now) who testified before Congress for over 20 years regarding the scams by “Defense” contractors, corporations, & their accomplices in the Pentagon and the federal government and he too, was ignored. The unmitigated gall or audacity of these thieves in high places is truly astounding? They have no shame and no conscience obviously. How they can stand up on their hind legs and cry, no, we can’t afford to provide health care for the American public after we were forced, against our will, to save their asses, is beyond me? They were given billions supposedly to stimulate the economy by making loans available for small businesses and working people but refused to do so & they now stand up on their hind legs and snidely tell us that where the money went & how it was spent, is none of our business? They are like a person who borrows money from a friend but claims he can’t pay his friend back even though his friend is now out of work, on food stamps, & has lost his home. And they boast of their record profits & personal bonuses? Just how much longer is the public going to keep its head buried in the sand & say, I’m not interested in politics and not be as mad as hell and do something about it?

Ken Lay, I wish all the Super Bankers & their political lapdogs were also treated this way

Yes, my fellow victims, we are suppose to accept that this was all just an unfortunate set of circumstances & coincidences, not a conspiracy. Lest you think that I’m laying this all at the feet of the Republicans, no, not at all. It was under Clinton that the Glass-Steagall Act was repealed and opened the floodgates of this current wave of robbery. The Glass-Steagall Act was established after the Great Depression to prevent a recurrence of the corrupt practices that caused the Depression. And the corporate “businessmen,” have waged a steady campaign ever since the introduction of Glass-Steagall, to wipe it out and every last vestige of F.D.R.’s “New Deal.” Mind you, they haven’t been secretive about their desire to undo the “New Deal,” Lyndon Johnson’s “Great Society,” in fact every single program set up to help the poor, the working class, & the middle class. It’s only “common sense” that the government provide subsidies, tax havens, federal dollars for research & development, the infrastructure for businesses to use & profit from but as soon as a corporation starts profiting from that government assistance, the profits become privatized. These are the glorious wonders of capitalism and the “free market.” Us “conspiracy nuts” on the Left are communist sympathizers or socialists—just one rung down from communists—when we demand that we be given safe working conditions, a living wage, social security, health coverage, decent public schools, and that our jobs not be shipped overseas so the corporate bastards can be given further tax incentives and greater profits.

Moreover, can you recall that preceding wave of corruption and greed exemplified by ENRON, World Com, etc. near the beginning of President “Dubya” Bush’s term in office? ENRON’s chief, Ken Lay, let Georgie use his private jet to fly around the country as he was campaigning for the presidency but as soon as “Kenny boy” (Bush’s affection nickname for Ken Lay) came tumbling down from grace & power, Bush claimed to barely know him. What about our current president, whom I voted for, hoping & praying that against all odds, he actually intended to honor his mantra of ‘change?’ Obama has betrayed us consistently since taking his oath of office & the most damning evidence of his betrayal of the American public is the fact that he appointed the very same bank robbers who led this looting of the federal treasury and the public’s private savings & investments e.g. Geitner, Summers, Bernanke, etc. Talk about putting the foxes in charge of the hen house!

It occurred to me this morning as I was formulating my thoughts for this essay that, these ‘wizards of Wall St.,’ differ little from the warlords of Afghanistan whom our tax dollars support in their drug trade & terrorism of the Afghan people. Our warlords wear $2,000 suits though. And our warlords threaten the entire planet whereas the Afghan warlords threaten only Afghanistan. Without a doubt, you’re going to think what I say next clearly proves I’m out in la-la land but check it out for yourself if you think me full of crap. Look up what’s been dubbed “Full Spectrum Dominance.” And an author by the name of Bruce Gagnon. Talk about a horror movie! In brief, our warlords are launching rockets & satellites into space with large quantities of plutonium & trying to erect a so-called ‘missile defense system,’ which will be equipped with lasers capable of threatening every nation on earth. Their goal is nothing less than the control of the galaxy or universe. They want to mine the other planets for valuable resources. Isn’t it interesting that the U.S. is so adamant about other nations possessing nuclear weapons but it’s okay if we own the world’s largest stockpile of them? And they neglect to inform us that all it would take, is for one tiny piece of the thousands of pieces of space debris (old satellites, etc. that have decayed & circle the earth) to hit one of these rockets as they fly into space and cause them to explode, releasing a dose of plutonium lethal enough to be fatal to every human on earth! I know, “don’t worry, be happy!” Hear no evil, see no evil, speak no evil. Just ignore these inconvenient facts & purchase that new, big screen, flat screen, HD television and amuse yourself to death.

 

One minor problem though my friend, for a rapidly expanding proportion of Americans, the latest electronic gadgets & toys are only a dream. The overwhelming majority of Americans are struggling to keep their heads above water by paying their mortgages, their rent, their health insurance premiums & deductibles, their auto insurance, their utilities, their ever increasing food costs, etc. Gone is the dream for most families of sending their children to college, enjoying a comfortable retirement and maybe even doing a little traveling. I believe that the majority of Americans, like myself, live in a perpetual state of fear that we may get some terrible disease or form of cancer and wind up losing our homes, our life savings and everything we own and find ourselves living in the gutters like so many of our soldiers who make up the invisible homeless haunting our cities.

 

Moreover, the financial elite, you know, those captains of the new industry, the financial “services” industry which makes up approximately 40% of our economy, have long ago realized that thanks to wonderful deals like NAFTA, that President Clinton proudly signed, has moved the market for what few things we still manufacture in America to emerging economies like China, India, & Brazil. Check out the song by James McMurty “We Can’t Make it Here Anymore.” Yes indeed, the Wall St. wizards who just made a few innocent “mistakes” like Jamie Dimon, the CEO of JP Morgan, who oops? lost his bank $9 trillion and counting yet President Obama proclaims that Jamie is a brilliant financial expert and when recently Dimon was called to testify before Congress, he wasn’t required to take the oath to tell the truth and the overwhelming majority of congressmen basically competed for kissing his ass. How can they call this testimony and why did they allow him to not swear an oath like mostly everybody else is required to do? Could it be that the financial elite, like their co0conspirators, the politicians, are above the law that they are so fond of reminding us is the bedrock of America’s strength & stability?

 

the smiling fox, Jamie Dimon, guarding the hen-house

Yeah, we’re about as stable as George Clooney was in the movie, “The Perfect Storm,” and speaking of which, Clooney must have hit his head pretty hard while filming that movie because he just threw a dinner party to raise funds for Obama’s reelection at $40,000 a plate? The major reason our economy and the world’s economy is so unstable is because the Wall St. speculators, bankers, hedge fund managers, etc. have been given carte blanche to speculate with our bank deposits, pension funds, etc. and when they lose their speculations (bets), they don’t pay up, we do. They manipulate our currency, our interest rates, our food prices, our energy prices, in short, they manipulate just about everything affecting our lives and the quality of our living. When Jamie Dimon “testified” before the first Congressional committee, the losses at JP Morgan/Chase were reported at $2 billion but gee, two weeks later the losses had risen to $9 billion and they’re still climbing. Oh well? That’s business! Nope, clearly no conspiracy here, just a string of bad luck which could’ve happened to anybody and poor Jamie shouldn’t be held accountable. Of course, it helps when you are your own boss i.e. he is CEO, chairman, & president of JP Morgan Chase and oh yeah, he was appointed the Director of the Board of Directors of the New York Federal Reserve Bank.

 

I wrote the bulk of this essay several months ago and my intention this morning was to wind it up for publication but the more research I do, the more intriguing it becomes. I am truly astounded at the gall, the lack of shame, and the extent of the greed on the part of the 1%. And I’m sure that those corporate cockroaches aren’t the least bit worried because they know they can count on the apathy, general level of ignorance (to simply not know something), and how much intellectual energy & perseverance it would require for the public to connect the dots. And since they (the powers that be) own the handful of media conglomerates as well as the FCC (Federal Communications Commission), they have little to fear but I at least take satisfaction in knowing that I have at least a glimmer of understanding or seeing the big picture. Nevertheless, my words are only read by a handful of friends and I must remain a lone voice in the wilderness, dismissed & mocked as a malcontent by many I come into contact with. This isn’t a pity party but a sad reality. Okay, I have more to connect here.

 

another Wall St. wizard, Timothy Geithner, uh? I don’t know what happened?

You might wonder why I mentioned that Jamie Dimon is also Director of the Board of Directors of the New York Federal Reserve Bank, and to be honest with you, I didn’t know what the role of the New York Federal Reserve Bank was until a few minutes ago when I did a Dogpile search (I prefer it over Google). And this is why it’s such a blatant conflict of interest for Jamie Dimon who just lost his bank anywhere from $4 billion to $9 billion, to also be director of the New York Federal Reserve Bank, the most influential member of the 12 federal reserve banks across America, these banks play a leadership role in monetary policy, they supervise and regulate the financial institutions and the payment system.

 

As I have argued ever since President Obama took office and appointed Summers, Geithner, & Bernanke to his cabinet, Obama is a brazen liar and his mantra of “Change” while he campaigned for the presidency was a public relations coup. Obama appointed Dimon to the head of the New York Federal Reserve Bank and this is the final nail in Obama’s coffin which will follow him in his legacy as the first Black man to be elected president of the United States. He had a great opportunity to show all the racists that a Black man could rise to the highest office in the land and be a moral exemplar of all that is good about America but instead, he has shown that it doesn’t matter whether you are white, black, brown, yellow, red, etc., power corrupts. It’s a sad day and perhaps it was just naive of me and millions of other Americans who believed that we at last had a chance to take back the America we were taught about in our public schools. By the way, Timothy Geithner, Obama’s other butt-buddy, was president of the New York Federal Reserve Bank from 2003-2009, another coincidence, nope, no conspiracies here. Talk about putting the foxes in charge of the hen-house?

NYPD, security guards for the Wall St. cockroaches, against true democracy, freedom of speech, etc.

To return to the subject of Jamie Dimon, here’s another coincidence, Dimon “donated” $4.6 million dollars to the NYPD and a few days later, the NYPD led the Occupy Wall St. movement to believe a march across the Brooklyn Bridge to Chase Manhattan Plaza was okay and when the protestors got to the middle of the bridge, over 700 of them were arrested. And a few weeks later, the NYPD evicted the Occupy Wall St. movement from Zucati Park where they had peacefully camped for several weeks. Nah, no conspiracies here either. By the way, what do you bet that Dimon’s “donation” to the NYPD was tax deductible? And speaking of taxes, here’s another coincidence, not a conspiracy, many of the largest, most profitable corporations in America, not only don’t pay any taxes, they actually get tax rebates in the millions & billions, yes, Billions! http://www.progress.org/corp12.htm Again, no conspiracy here, nope, these corporate crocodiles proclaim their loyalty to America as we subsidize them, especially those poor oil companies and they not only get out of paying any taxes, but in addition receive tax rebates? Only in America where if you’re big enough and can buy some politicians off with your lobbyist, you get to write the laws regarding your business and you can even write off the expense of hiring the lobbyist. Just good old fashioned, standard business practices. Jamie Dimon made $23 million last year as he lost his bank several billion dollars and he was named CEO of the year for 2011. I kid you not. I heard it said many years ago that if there were a nuclear war, only the cockroaches would survive. You can bet the corporate cockroaches have their bunkers all picked out and stocked with fine cigars and champagne and that would be a fitting life for them i.e. to live out the rest of their days in a dark, hole in the ground with no one left to oppress and no oceans, forests, or mountains to enjoy. Sorry, I indulge myself in fantasies of revenge now and then, it’s the only way to keep my sanity.

Eisenhower tried to warn us but we have been asleep at the wheel and that’s why we’re where we are at now

Wall St. represents all that is wrong with business in America and the world in general. I just wonder how much longer the American public is going to put up with it? President Eisenhower tried to warn us about this amalgamation of power, decades ago but still we waste trillions of dollars on the “Defense budget” do you recall that it used to be more honestly called the War Dept.? Let’s review briefly, the politicians make up lies for why we need to invade another country, their lackeys in the media spread the lies, we send our sons, daughters, husbands, wives, fathers and mothers to go fight in the wars that make corporations like Halliburton filthy rich and when the financial elite make mistakes we are forced to bail them out but when we are laid off from our jobs they tell us to pull ourselves up by our own bootstraps? How am I doing? Sound about right?

the venerable Howard Zinn, rest in peace dear brother!

I hope this isn’t too overwhelming for you, my reader, and I don’t mean to be all doom & gloom because there are good people out there fighting the good fight and trying to wake us up and to organize people. Bottom line, as Howard Zinn pointed out, they, the 1% only have the power they do because we allow them to have it. If we unite, we are far more powerful than they are. But first and foremost we need to inform ourselves and everyone we know so we can take back what is rightfully ours, not theirs. Elliot Spitzer for example, he went after them with a vengeance and he scared the Hell out of them and because he was doing real damage to the crooks in high places, they destroyed him by exposing his human fallibility of lust for women. Personally,  I don’t give a damn about a person’s sexual proclivities as long as they are doing a good job like Spitzer was. In fact, I bet you every single CEO of Forbes Top 500 corporations, pays for prostitutes but are we told about their romps in the hay or are they ever fired for it or do people stop buying their products because of it? Hell no! Ralph Nader has been fighting against corporate corruption his whole life but what has it gotten him? Even the so-called liberals/progressives attacked Nader and since they can’t nail him for sexual misconduct, they labeled him a spoiler and an egotist.

a real fighter & he scared the Hell out of Wall St but they brought him down with their dirty politics as they always do

Elizabeth Warren, http://www.cbsnews.com/8301-503544_162-20110042-503544.html , a brilliant law professor at Harvard known for her high ethical standards, is fighting the good fight. She came up with the idea for a “Consumer Financial Watchdog Agency” after the financial power elite wrecked the world economy and drove the world to the brink of economic collapse but as usual, Obama the spineless and the cowardly & craven Democratic party bowed down to the Republicans and didn’t appoint her to head this agency but put in someone who is a good team player i.e. coward.

Elizabeth Warren, champion of the people!

Robert Scheer, a reporter’s reporter

Furthermore, there was another brave woman who tried to warn us about the housing bubble and the sham of sub-prime lending and credit default swaps, derivatives, etc. Her name is Brooksley Born. http://www.pbs.org/wgbh/pages/frontline/warning/interviews/born.html and what was her reward for trying to look out for us, the peons, she was ignored, marginalized, and trashed by the old boys club of the corporate cockroaches. I’m inserting URLs to make it easy for you to check out/verify what I’m saying and in the hopes that you too, will help spread the word and thereby empower our fellow citizens in this rapidly fading democracy. If you’d really like to get a much fuller/deeper understanding of how the slime balls brought us the second Great Depression—they keep calling it a Recession in the hopes that we won’t panic and get Mad as Hell and possibly hold the criminal class responsible—read an excellent book by Robert Scheer called “The Great American Stickup; How Reagan Republicans & Clinton Democrats Enriched Wall St. While Mugging Main St.. I read this book with great interest and made many notes in the margins & blank pages for further reference. He tells Brooksley Born’s story in great detail and helps to simplify the complex legal maneuvers made by the politicians & Wall St. worms. When looking for something to share with you about Robert Scheer, I stumbled upon this article which clearly ties in with this essay http://www.huffingtonpost.com/robert-scheer/crime-of-the-century_b_1653321.html Yep, just another fortunate set of circumstances for the banksters, who are so smart and deserve the millions and billions they make. Here’s a few figures for you that I found in a couple of hours of searching the web; America’s national deficit as of June 2012 is $15.85 trillion or 103% of current dollar GDP, our GDP (Gross Domestic Product) is $15 trillion, & the real/true total of the Wall St. bailout is $14.4 trillion and counting. http://www.motherjones.com/politics/2010/01/real-size-bailout-treasury-fed and add to this the just revealed story by Robert Scheer (see above) and I don’t know about you but as for me, I’d love to see every one of these hideous, hyenas of high-finance and banking sentenced to life in the worst prison in America. It was a conspiracy for Halliburton to be awarded the lion’s share of the “rebuilding” contracts in Iraq because Cheney owned over 400,000 shares of Halliburton stocks and Cheney was one of the key architects behind the series of lies that were made up to serve as the pretext/rationale for us to first blow the Hell out of Iraq’s infrastructure and then award sweetheart contracts to corrupt corporations like Halliburton & Blackwater Mercenaries. Of course, Halliburton did a half-assed job of “rebuilding” and stole millions and lost millions by accident but is still doing business and only got a hand slap for their crimes and fraud.

 

If you still believe in the free market crap and the trickle-down theory of economics that started with Reagan and has allowed the filthy swine to bankrupt our nation and drive us to ruin and humiliation, here are a few more fun facts for you to chew on:  the services sector of our economy is 67.8 % of our GDP and the industrial sector is 20.5% of our GDP. Note: the “financial services” makes up 40% of that “services sector.” And our manufacturing is shrinking rapidly thanks to treaties like NAFTA. JP Morgan Chase has over 10,000 law suits filed against it. Among the ten largest employers in America is Walmart (rabidly anti-union & they show their employees how to apply for food stamps & other government assistance programs), the U.S. Postal Service which is under attack because it’s unionized, IBM, UPS, McDonalds (source of many of those jobs Obama brags about having added, and note a study conducted over the course of several years shows that McDonalds burgers don’t decompose i.e. they don’t decay and break down like real food does so what do you think they’re doing for your body?), Target (another anti-union company), Kruger, Home Depot, G.E. (Reagan’s benefactor and creator of nuclear reactors like the ones in Fukashima, Japan and pays no taxes but gets millions & billions back in tax rebates and is subsidized by taxpayers), and Sears, which I believe is about to file for bankruptcy? Kind of warms your heart doesn’t it? More like heartburn. These vicious vermin are playing Russian roulette with our lives and it’s up to us to arm ourselves with knowledge of how they’ve done it and to spread the knowledge and inspire our fellow countrymen to fight the power!

 

There is an old book called None Dare Call It Treason, well, I do and I call it a diabolical conspiracy against humanity designed to turn back the clock of history to the Dark Ages, the days of feudalism where the lords ruled over the serfs and peasants and the people begged for scraps from the masters’ tables like dogs!

Nomi Prins, former Wall St. insider, very bright gal & another champion of the people

References

http://www.huffingtonpost.com/2012/05/17/timothy-geithner-jamie-dimon_n_1525812.html

http://finance.yahoo.com/news/bernanke-congress-fix-dimon-ny-165155961.html

http://www.theatlantic.com/magazine/archive/2009/05/the-quiet-coup/7364/

http://www.vanityfair.com/politics/2012/05/joseph-stiglitz-the-price-on-inequality

http://www.rollingstone.com/politics/news/the-people-vs-goldman-sachs-20110511

Addendum

Since this is such a huge subject, I feel that I should attempt to be a bit more clear in my reasoning. First of all, here is a dictionary definition of conspiracy (a secret plan by a group to do something unlawful or harmful.) In order for their to be a conspiracy, you must have at least two people colluding (come to an understanding or conspire together). I believe that even the most skeptical observer would have to admit that for the sheer scale of the worldwide economic collapse, there had to be collusion between the banks, the mortgage companies involved such as Freddie Mac & Fannie Mae and the credit rating agencies that gave the subprime loans their triple A ratings.

     Well my friend, as I started digging deeper into this morass known as the global economic meltdown of 2008, I got sucked in to such a web of deceit regarding our economy and what we’ve been told by the corporate media and the politicians that I am truly dumbfounded at their hubris. And again, at the risk of sounding like an alarmist and conspiracy nut, I’m going to speak my mind and heart on this matter because quite literally, the whole world’s economy is at stake here. I learned something very simple many years ago but it’s important to bring it up here, the closest we can come to the truth about any subject is to first check out the credentials, if any, of the person whom you want to check out because you want to verify the validity/credibility of what that person is saying/writing. And secondly, you must do your homework and see what other “experts” in the particular field have to say about the person. That’s it in a nutshell. I am definitely no economist but sometimes, being an outsider gives you a fresh perspective and allows you to think more outside the box because of your naivete. A few days ago, I rented & watched the HBO film “Too Big to Fail” about the U.S. role in the global economic meltdown of 2008 and it was mentioned a few times that the other “Super Banks” complained to Hank Paulson who was then the U.S. Secretary of the Treasury and was basically calling the shots, that they wanted the same deal that Jamie Dimon & JP Morgan Chase got. And then I saw the very recent “testimony” of Dimon before the Senate Banking Committee and how deferential the senators were to him and I got to wondering why Dimon was so special or powerful so I did a little research and came across this rather startling article by Ellen Brown, Why the Senate Won’t Touch Jamie DimonHere’s a clip from the film “Too Big to Fail to possibly pique your interest?

  and

here’s a snippet of Jamie Dimon being grilled by one of the few senators (from my home state of Oregon by the way) who had the balls to put Mr. Hot Shit in his place and dared to speak truth at power.

Sorry for digressing again, it’s difficult to keep on track because I keep on gathering more information and I’m also trying to not bore you to death and this is such a complex web filled with financial jargon purposely designed to keep the average citizen in the dark. I am learning as I go and trying to translate it for you to the best of my ability. Senator Merkley was very inspiring in his standing up to Dimon and reminding him that he wasn’t in control, though you wouldn’t have known it by the groveling of the other senators. Jamie Dimon’s bank, JP Morgan Chase, is the largest political contributor to the senators on the Senate Banking Committee so it’s clear that most of the other senators are paid for like high class hookers. No, I should say, low class hookers.

wouldn’t you just love to slap that smug smile off his face?

 

Let’s return to Ms. Ellen Brown’s mind-boggling article Why the Senate Won’t Touch Jamie Dimon http://www.thepeoplesvoice.org/TPV3/Voices.php/2012/06/21/why-the-senate-won-t-touch-jamie-dimon-j Here are the most pertinent & shocking revelations by Ms. Brown in my opinion: “Interest rate swaps are now over 80% of the massive derivatives market & JP Morgan Chase holds about $57.5 trillion dollars of them.” “Dimon sat on the board of the New York Federal Reserve Bank when it lent $55 billion dollars to JP Morgan Chase in 2008 to buy Bear Stearns for pennies on the dollar.” “Dimon then owned 3,000,000 shares of JP Morgan Chase stock, that sort of conflict of interest is a felony.” “There is evidence that JP Morgan Chase losses are not just $3 billion dollars but $30 billion dollars or more and that JP Morgan Chase is actually bankrupt.” That about says it all, the largest bank in America and its CEO, chairman, & president all in one, Jamie Dimon, the smug, smirking king of the robber barons, could wreck the entire American economy if his crimes were made public and he was held accountable. Why? Because all the other financial institutions that are currently propped-up with the guarantee of the federal treasury backing them, would fall like dominos because of the intricate interconnections and a loss of faith in our banking system would cause such a run on the banks that it would make the first Great Depression (originally called the Republican Depression) look like a walk in the park. You may be tempted to just dismiss my concerns as yet another alarmist or fear monger like many of those nut cases who believe in a vast Illuminatti conspiracy, a vast Jewish cabal of bankers, the Trilateral Commission, etc. but I tread very carefully when I use the term “conspiracy” because I know the usual reaction is to reject it out of hand. But again, the Right-wingnuts scream conspiracy daily on FOX News and because they spew it out daily, they are rarely questioned or called on it. I simply ask you to consider/reflect on the recent revelations regarding Wall St.’s criminal activity and I have a bit more evidence to share with you as well. But for now, we know that the “housing bubble” was allowed to go on for years due to the collusion between the Super Banks, the federal & private mortgage giants like Fannie Mae & Freddie Mac, the S.E.C.’s cowardice, incompetence, & collusion, the world’s largest insurance agency, A.I.G., the credit rating agencies collusion, the hedge fund managers, etc.

 

Furthermore, the details are just beginning to leak out about the Libor scandal (Libor is the lending or interest rate that banks charge in their massive transactions of $3 trillion dollars or more, I believe? And as Robert Scheer points out in a recent article he wrote, this scandal will make Enron and other scandals pale in comparison: http://www.truthdig.com/report/item/crime_of_the_century_20120706/  The Libor scandal could affect or be as great as several hundred trillion dollars! Stop and think, that’s the entire economy of the world. Can you possibly still think these are all simple matters of coincidence? I wanted some clarification on how A.I.G. fit into this malevolent morass of money & fraud on such a colossal scale and I found this article by Elliot Spitzer: http://www.slate.com/articles/news_and_politics/the_best_policy/2009/03/the_real_aig_scandal.html  This reveals yet again of how Wall St. and “our” government have deceived by claiming that the bailout we were forced to give Wall St. was $800 billion dollars when in fact, it was more like $15 trillion dollars as Nomi Prins and others have proved.

 

Moreover, here’s even more evidence of their conspiracies and corruption as shown in a recent Rolling Stone article by Matt Taibbi, whose been on Wall St.’s ass like stink on shit for quite some time now: http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620 Again, I am including these links to make it easy for you to do your own reading and come to your own conclusions. But to my mind, there is absolutely no way in Hell that this is merely a series of inadvertent mistakes and again, I’m not claiming there was one vast, all encompassing conspiracy but rather, a plethora of conspiracies that make it clear as a bell that we must unite and stand up on our hind legs and scream to the rafters, “I’m as Mad as Hell and I’m not going to take it anymore!

 

Here are some of the points that I feel are important in Matt Taibbi’s recent article comparing Wall St. to the Mafia: Oh yeah, before I forget it, note that in the recent revelations due to the investigation of Barclays’Bank in England regarding the manipulation of the Libor rates, the bank’s president said “But everybody is doing it?” And in the case of the three defendants who worked for G.E. Capital, the finance arm of General Electric, they too were only doing what had become standard practice among all the major banks in America (JP Morgan Chase, Bank of America, UBS, Lehman Brothers, Bear Stearns, Wachovia, and more. This in no way excuses their actions and crimes but reveals just how thoroughly corrupt and rotten to the core our banking and financial institutions have become because they were allowed to by the politicians running our government. Bear in mind that G.E. has paid no taxes many years and has even received tax refunds of millions & sometimes billions of dollars even though they receive huge subsidies from the government just like JP Morgan Chase and etc. And don’t forget that the director of the brilliant film Inside Job, won an Oscar for it a few years back and in his acceptance speech he pointed out that none of the  corporate executives responsible for the collapse of the U.S. economy have been tried for their crimes or gone to jail. Matt Taibbi “The banks achieved this gigantic rip-off by secretly colluding to rig the public bids on municipal bonds, a business worth $3.7 trillion. By conspiring to lower the interest rates that towns earn on these investments, the banks systematically stole from schools, hospitals, libraries and nursing homes—from ‘virtually every single state, district and territory in the United States…” Just open a newspaper or listen to the news and almost daily we hear of yet another town or city forced to declare bankruptcy, we clearly have already been turned into a feudal fiefdom where our only value is in servicing the lords of Wall St. I’m going to leave Taibbi’s excellent article because this essay is just going on for perhaps far too long.

 

But I can’t leave altogether yet without sharing a bit more evidence in my argument for the existence of a Wall St. conspiracy. For a glimpse into just how symbiotic or parasitic the Wall St. and Congress conspiracy is, check out this link http://www.cbsnews.com/8301-31727_162-20001981-10391695.html Note, it was former Goldman Sachs CEO, Hank Paulson, who as U.S. Treasury Secretary, choreographed the bail-out for the Super Banks, “Too Big to Fail” as shown in the film by the same name and Goldman Sachs, clearly a co-conspirator in these crimes against the American public, definitely benefitted from Paulson’s interventions. Here is Nobel prize-winning economist, Paul Krugman’s take on our precarious economic situation:

and here is what former vice-president & chief economist with the World Bank and Nobel Prize winner has to say:

In conclusion, I feel that it would be very instructive to share with you my reader, a part of American history that I’m sure many, if not most, Americans, have no idea of i.e. the Wall St. conspiracy that resulted in a failed coup attempt right here in America in 1934. Here is a brief overview: the plan was to get Major General Smedley Butler U.S.M.C., to lead an army of 500,000 pissed-off veterans from WWI who couldn’t find work, were homeless, hungry, and mad as Hell at the U.S. government for not treating them fairly after they’d sacrificed in war for America. Well, the Wall St. conspirators thought Major General Butler was their guy because he had done their dirty work for most of his career in the Marine Corps but they were wrong. Here is a quote from Major General Butler that revealed his awakening so-to-speak:

 

“I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents.”
― Smedley D. ButlerWar is a Racket: The Antiwar Classic by America’s Most Decorated Soldier  

 

As I said, the Wall St. conspirators grossly miscalculated the Major General and he kept his mouth shut until he learned the identity of those wealthy financiers plotting to overthrow Franklin D. Roosevelt. They called themselves the American Liberty League and it was headed by the DuPont and JP Morgan cartels and had major support from Andrew Mellon Associates, Pew (Sun Oil), Rockefeller Associates, E.F. Hutton Associates, U.S. Steel, General Motors, Chase, Standard Oil, and Goodyear Tires. Money was funneled thru Senator Prescott Bush (Georgie “Dubya” Bush’s grand-daddy) led Union Banking Corporation and the Prescott Bush led– Brown Brothers Harriman, to the league. Yep, what a forgiving land of opportunity America is, Brown Brothers Harriman is the largest private bank in America and two other of its notable members are George H.W. Bush and Alan Greenspan. It might also be worth noting that not a single conspirator was ever charged with treason or called to testify, hey, just like Jamie Dimon not being required to swear an oath when he recently “testified” before the Senate Banking Committee? Maybe they didn’t want to expose him to possible future charges of perjury like Lloyd Blankfein who is under threat of prosecution for perjury regarding his testimony before Congress a couple of years ago? Did you notice that JP Morgan was listed as not only one of the conspirators but a major force behind the organization of the league? Yep, the Morgan family has a long history of greed and corruption. In the Civil War, the original JP Morgan bought up thousands of defective rifles for $3 apiece and sold them to the government for $17 apiece. Yes, good old fashioned business sense. One last note, during the film “Too Big to Fail,” the term moral hazard was mentioned a couple of times and lastly, right near the very end of the film. I first heard this term when watching a PBS documentary on the Wall St. crisis and I feel it’s a good place to end on. Here is a brief video clip to help make the term “moral hazard” a bit more understandable:


What do you think, do you believe that Wall St. has learned its lesson and won’t commit any more Morally Hazardous acts? Have they been sufficiently punished, Hell, have they really been punished at all? What little regulations we have left are weak to totally ineffective and as long as we, the people, continue to let them and the politicians get away with their thievery, we will continue on our downward spiral until there is nothing left to protect.I came across this video clip which may also help to summarize what went so horribly wrong with Wall St.?

And sorry, I couldn’t resist

You know, our brilliant leaders have been waging their so-called “War on Drugs” for decades and its proven to be just another example of their stupidity and has only created the largest, per capita prison population on Earth but I just had an idea, since Wall St.’s addiction is gambling, but with other peoples’ money, not theirs, why don’t we declare a War on Wall St.’s Gambling with our lives, our economy, and our world? These conspiracies were obviously the result of unbridled greed but they were allowed to happen and to flourish because of the general conspiracy of silence on both the experts in government’s part and the conspiracy of silence on our part as citizens! Will you join with me in speaking out against it?

 

P.S.  Sorry, couldn’t let you get away with out a few important points that Matt Taibbi made in his recent article The Scam Wall Street Learned From the Mafia

1) “Organized crime learned their lessons from John D. Rockefeller,” Spitzer (Elliot) explains. “It’s much more efficient to control a market and boost the price 10 percent that it is to run a loan-sharking business on the street, where you actually have to use a baseball bat and collect every week.”….”The urge to become a monopolist,” he says, “is as old as capitalism.”

2)”The extreme youth of some of the conspirators was an obvious subtext of the trial, underscoring the fact that far more senior executives from bigger banks like Chase and Bank of America had been permitted by the government to evade testifying.” (note in Jamie Dimon’s recent “testimony” re: his loss of several billion dollars, he wasn’t required to swear an oath before “testifying”—my observation)

3)”So a mere $10,000 bribe to a politician—a couple of Super Bowl tickets and a limo—scored CDR a total of $665,000 of the public’s money. If you want to know why Wall Street has been enjoying record profits, here’s your answer: Corruption is a business model that brings in $66 for every dollar you invest.”

4)”To grasp the full insanity of these revelations, one must step back and consider all this information together: the bribes, yes, but also the industrywide, anti-competitive bid-rigging scheme. It turns into a kind of unbroken Mobius strip of corruption—the banks pay middlemen to rig auctions, the middlemen bribe politicians to win business, then the politicians choose the middlemen to run the auctions, leading right back to the banks bribing the middlemen to rig the bids.”

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