Whistleblowers!! Ex-Goldman Sachs Banker and IMF Chief Economist Spell Out The Scam | |
ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/26/2009 10:57 PM Report Abusive Post Report Copyright Violation | From: John Talbott To: Simon Johnson Subject: Taking Back the Country Simon, I think you and I and most economists suffer from an antiquated belief that if we can just figure out exactly what went wrong, policymakers will beat a path to our door to ask our help in enacting necessary reforms. Unfortunately, the world no longer works that way. Our corrupted government, our criminal businesses and banking institutions, lobbyists, special interests, and the corporate controlled media are not interested in fixing this problem. They are making trillions of dollars through a vast scheme that transfers wealth from ordinary American taxpayers and consumers to their corrupt coffers. You are right that if big business thought about it, they should support efforts at restricting lobbying so that growth-oriented government policies could be implemented without the influence of corrupting special interests. But each lobbying corporation is also its own special interest, and so such internal reform is impossible. The million-dollar question is: Why haven't ordinary Americans reacted more passionately and angrily in taking real action to end this systemic abuse? A decade ago, I wrote my first book on the corrupting influence of big business lobbying on our government and concluded at the time that average Americans would not focus on the issue until they had suffered real pain. I concluded that you can't defuse a bomb in America until after it has gone off. But now the bomb has exploded. Forty million Americans are unemployed, millions have lost their homes, and most have taken a very substantial hit to their incomes, retirement savings and wealth. Why aren't Americans in the streets protesting this corrupt, enormously damaging criminal enterprise? I have traveled enough around America to realize that even though the current situation is enormously complex and not all Americans can describe exactly how the CDO market works, almost without exception every American can relate to you his frustration with how corrupt this government is and how unjust corporate lobbying and special influence in Washington has become. They get it. As a matter of fact, some of my high school-educated friends from my home state of Kentucky understand it a lot better than my Harvard-educated friends from Wall Street. So I don't think the current challenge is figuring out exactly what caused the crisis. Focusing on what caused this episode will lead to narrow regulatory reform that reminds me that we all now take off our shoes at airports because one crazy fellow had the idea of putting a bomb in his heel. So while reform is needed in subprime mortgages, securitization, derivatives, and even in the magnitude of our financial institutions, none of these get at the fundamental problem: The people of this country are no longer making the rules by which they wish to live. If subprime mortgages hadn't blown up, some other area of highly leveraged bank lending would have eventually imploded. Even if the banking industry hadn't crashed, some other sector of the corrupt business/government criminal enterprise would have. Maybe the ice shelf of Greenland would have collapsed into the North Atlantic, maybe we would have run out of oil, maybe Microsoft's monopoly position in operating systems would have led to a worldwide computer virus shutdown, maybe poor consumer safety standards with China would have led to a global disease epidemic. The point is that when corporations make the rules, the results are not always good for the inhabitants of the planet. So we don't have to decide today exactly what the reforms will be -- we just need to get corporate America out of our government so that the people can deliberate and make these reform decisions themselves without undue influence from bankers and corporations. But there are two huge impediments to accomplishing this. This is not a traditional economics problem, it is an organizing problem or a collective action problem. People know the system is rigged and broken and unjust, but they feel as if there is very little that any one of them can do to effect much change. The organizing task is further complicated by the fact that our media, including television networks, cable TV, radio, newspapers, and magazine and book publishing, are almost all sponsored, owned and controlled by big corporations. The only hope is the Internet, over which big business has tried but to date failed to successfully exert its dominance. The Internet will prove to be both a source of unbiased news and information as well as the communication tool concerned citizens can utilize to fight back against big government, big business and big media. What has to happen to get this movement started? First, I think people need to see that there is a channel being constructed that has the potential to be effective in directing their anger into real positive reform and change. I am in the process of beginning just such an organization and encourage people who are interested in fighting back against the system and against corporate lobbyists and special interests to contact me at my e-mail address, johntalbs (at) hotmail (dot) com. Next, people have to believe that if they invest their time in such an effort they have the potential of winning. In this case, this is rather straightforward and easy to explain. If we are successful in organizing 5 million to 10 million Americans who want to see real change about how business is conducted in Washington, then by definition, we will have not only substantial political and voting power, but more important, the beginnings of a real consumer movement that could easily boycott the products and services of the worst corporate lobbyers in our government. And this is where the magic of the Internet comes in. No one person could organize a 10 million person database in his lifetime. But Obama was able to accomplish it in less than two years. How? We don't have his money. Instead, we create our own Ponzi scheme. We create the ultimate chain letter. I e-mail 30 of my friends who each e-mail 30 of their friends and so on and so on. If only four cycles of people pass on the info we end up contacting 25 million Americans. We ask people to give us their e-mails and then contact them when we want to boycott a new offender. It is time for Americans to realize that things are not going to improve until they get involved. It will take time. But the economy is not going to improve until we straighten out our corrupt system. Do you have anything more important that you are working on than this? The survival of liberal democratic society in the world. Thanks for a great exchange of ideas. And best of luck in your future research and work. John From: Simon Johnson To: John Talbott Subject: Re: Taking Back the Country John: I admire your energy and focus in trying to mobilize a broader cross section of people against the big banks in particular and the way our political-financial system operates in general. I'm sure this is worthwhile and not at all a waste of time. Any efforts you or others put into educating people -- or enabling people to better educate themselves -- will surely pay off over time. However, my sense of the political cycle around these issues is perhaps a bit different from yours. On the first round -- the crisis, immediate policy response and first-round "reform" efforts -- the big bankers have definitely won. You were right when you argued way back that it would take a crisis before anyone really understood that we have a problem. But even so, most people still do not fully understand what has happened to them over the past 12 months -- and why their future taxes will be so much higher. I spend quite a lot of time talking to relatively well-informed people. After an hour or so of intense discussion and argument, I would say that most people see much more clearly just what the big banks got away with, although they do not necessarily agree with the idea of stricter regulatory controls on those banks. Left to their own devices, or just relying on the usual sources, I'm not sure how clear any of this is to most people. And I worry that e-mailing friends doesn't necessarily engage people at the necessary level. You need repeated reinforcement of the key themes -- and a lot of back and forth with people you trust -- to really change minds on something this big. Or, as you say, you need to see it again and again, and perhaps you need to worry about the consequences for your own well-being. If the big banks could just lie low for a while, I honestly think they would get away with everything -- the backlash would fade, and we'd be setting ourselves up for another massive crisis down the road. Fortunately (in a sense), the banks cannot back off from their most egregious behavior. Perhaps this is in their DNA; definitely it is in their organizational culture and how they see the world -- the people who run the biggest financial institutions really think they are the masters of the universe and are proceeding on that basis. Their profits, their wages, their bonuses, and their behavior have begun to antagonize people greatly. Already, some of my contacts who are close to the administration wince at the latest news from the financial sector, be it the bonuses that were paid last year to senior people who oversaw major mistakes (some of whom are now rewarded with senior policy roles!) or the blatant bragging about political influence that some CEOs are now making public. And even if some sensible people at these banks would like to rein in employee compensation to more moderate and reasonable levels, they have a problem. If you lower the wages for your people, another bank -- perhaps one based in Europe -- will hire them away with a crazy package. The rat race, across companies and between people, means that this can only be curtailed through regulation. But the survivor banks are so strong politically that they will defeat all meaningful regulation for compensation. This very success makes them more vulnerable to further criticism and backlash. I'm not saying that the banks will simply commit political suicide. Nothing is ever so simple. But they will likely undermine themselves with Congress and eventually even with the administration. The midterm elections in 2010 and the presidential election in 2012 could well be very much about restricting the power of the big banks. American democracy does not get on well with overweening unelected individuals who pretend to great power. Andrew Jackson saw off Nicolas Biddle in the 1830s. Teddy Roosevelt stood up to -- and eventually towered over -- even J.P. Morgan at the beginning of the 20th century. And FDR remade everything in the 1930s. As I said before, I'm optimistic that President Obama can do the same. The challenge to democracy is palpable and growing. The fact that two -- and only two -- big banks came through the crisis unscathed is a perfect symbol of the problem. In the past, part of the myth of Wall Street was that it was competitive, that many could enter the industry, and that its political power was not too concentrated. This myth, among many, has now exploded. We see the power for what it is. Mainstream media increasingly picks up the story line. And still the big banks cannot step back and curtail their most troubling activities. Keep explaining and let the big banks provide the supportive evidence you need. Best wishes, Simon I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
Frigg Stuyvesant User ID: 621289 United States 07/26/2009 11:00 PM Report Abusive Post Report Copyright Violation | |
ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/26/2009 11:01 PM Report Abusive Post Report Copyright Violation | From: John Talbott To: Simon Johnson Subject: Complexity With No Purpose Simon, You make some very good points [in your first e-mail]. Let me try to address some of them, and in so doing extend this e-mail exchange into a conversation about the real reforms needed. Don't worry, this isn't over yet. We haven't missed our chance to enact real reform. There isn't going to be any big recovery until we address these fundamental issues. Given the debt overhang, the banks' general unwillingness to lend, the lack of transparency and trust in the markets, the possible change in people's desire for increased status-seeking through crazy borrowing and crazy consumption, a substantial decline in immigration and population growth, and the fast approaching retirement of the baby boomers, I don't see the American economy growing in real terms for years, if not decades, into the future. The real risk is that the economy will continue to suffer, unemployment will increase, and discontent will grow to the point that the Republicans stage a comeback. It may sound far-fetched now, but I can tell you: There is enormous anger out there about government spending, the increased debt, the bailouts and the fact that Washington is still taking orders from special interests. This is not the change people signed on for. You are right -- this is much bigger than Bernie Madoff and his friends stealing billions from investors. Because the banks lobbied to change the law before they acted, their actions are technically legal. But paying elected representatives money to change laws so that you can violate them seems to me to be at the heart of what criminal activity is all about. But you are right, because the laws were changed, criminal prosecutors in the states are not going to be very effective in bringing effective prosecutions, especially given that federal enforcement agencies like the FBI and the SEC [Securities and Exchange Commission] are collecting so little useful evidence and pursuing so few leads. It is a real question how a country can stop corruption once corruption reaches its legislature, since the legislature is the place where we would expect reform legislation to be enacted. I believe this is one of the reasons why the poorest countries of the world have remained poor for centuries. As we have seen here in the U.S., once you lose control of your legislature, accomplishing real reform is a much bigger problem. Prosecuting attorneys are not going to be much help, judges and the court system have their hands tied by corrupt legislation, and well-meaning presidents face ostracism inside the Beltway if they openly oppose Congress, lobbyists and corporate special interests. I believe pressure for reform has to come directly from the people. And I believe that Washington is so corrupt that attempts to bring reform through the vote will be ineffectual. The two parties have too much of a lock on power while incumbents have too much money (and they have gerrymandered their districts to the point that their losing is near impossible). Congress' approval rating of 14 percent and congressional incumbents' 98.4 percent success rate at re-election fully describes the problem of attempting reform through the vote. That is why I am starting an effort to organize Americans who are angry with the power of corporate special interests to take back their country by putting pressure not on the corrupt Congress, but on the source of their funding: our biggest banks and corporations. Follow the money. [Anyone interested in further information can contact Talbott at johntalbs (at) hotmail (dot) com.] The task is getting Americans organized, because once organized we hold the ultimate trump card. It is we Americans who make these corporations what they are today by buying their products and services. Any threat to not buy the products of big government lobbyists would certainly get their attention. I honestly believe it is also in the interest of our biggest corporations to stop influencing our government, because until they do, so our country is not going to be seeing any real economic growth. Banksters, greedy healthcare companies, a weak education system, unnecessary wars and a bankrupt government trying to fund its retirees' costs are not conducive to economic growth, and the corporations should come to realize this. This is a classic collective-action problem where each corporation cheats and steals a little, but the overall effect is to strangle the economy and prevent a truly prosperous future. Of course, the real reforms that need to be accomplished, once we get corporations out of Washington and politics, include limiting the leverage of banks and prohibiting them from risky activities -- principal trading for their own account, derivatives trading, and many other investment banking activities -- and assuring complete transparency of all of their positions. We also need to strengthen the board supervision of management by getting managers, including the CEO and his cronies, out of the boardroom and replacing them with real shareholder representatives. We don't need to limit compensation, but we need to make sure that it is structured so that toxic waste cannot be left behind by a poorly thought-out bonus system. But there are bigger reforms that are also needed. We need to downsize all corporations, especially the banks. We need to make sure they are not too big to fail. This downsizing will not hurt investors, as they will get two new smaller company shares of equal worth for every big old company share they held. We need to shut down the credit default swap (CDS) market, because extensive trading of default risk makes everyone too interconnected to fail. I know the CDS market was created to limit risk through hedging, but it has done just the opposite. It has made all firms so interconnected that one cannot fail without bringing them all down. This violates the first rule of capitalism -- that firms must be allowed to fail -- and therefore it needs to be stopped completely. The only analogy I can think of to demonstrate how crazy this market has become is to go back in history to the early days of risk sharing when well-capitalized institutions on shore offered insurance against the loss of a ship at sea. The CDS market, if it were operating back then, would have allowed ships at sea themselves to guarantee the fate of other ships at sea, with very small boats such as hedge funds somehow insuring the return of very large merchant ships. The whole mess would have become so interconnected that one ship's sinking would have bankrupted everybody. People today seem to think that just because two people want to trade something, it must be good. Because the CDS market is big, it must be useful, goes the argument. It gets at the belief system that you suggested people have adopted: that markets are inherently good. Maybe always efficient, but not always good. There are some things like company default risk that shouldn't be traded. In the past people wanted to buy and sell slaves, child pornography, women's bodies, or weapons of mass destruction, or to offer payments to elected government representatives and bribes to international governments and competitors. Just because a market can develop does not mean the functioning of that market is good for society. Markets cannot self-reflect. That is what humans do. Only we can decide if a particular market is doing more harm than good. I would extend my reforms to include shutting down most derivatives trading. If used properly, it can be an effective hedging tool, but since its introduction it has made investment analysis moot, as no one actually knows what risks you are buying when you buy the stock of a company or bank actively engaged in derivatives. You may be bullish on gold prices, so you buy a gold mining stock -- only to find out that the company has in fact hedged its gold exposure so effectively through derivatives that it makes money only if gold prices decline, not increase. Similarly, I would shut down the hedge fund industry. They are nothing more than enablers for these banks and companies like AIG to concoct schemes to avoid regulation or increase risk. Basic investment theory says you can't beat the markets, so I will bet that the hedge funds that are claiming to do so are doing it illegally through insider trading and market manipulation of individual stocks and asset prices. Don't take my word for it. Let's have the government tap the phones and check the e-mails of the hedge funds for a six-month period on a confidential basis and see what happens to their reported outsized profitability and trading brilliance. John From: Simon Johnson To: John Talbott Subject: Re: Complexity With No Purpose John: Thanks for your follow-up note. I take your point that there should be a great deal of popular anger -- there is certainly plenty of reason for ordinary voters to be upset. But I'm not so sure this will be manifested anytime soon; for most people, what has happened is a bit abstract and rather too confusing. On top of this, the big banks have done a great job of muddying the waters. Their message gets through to many: Everyone is to blame and no one is responsible for the crisis, so let's go back to some version of business as usual. I actually agree there will be change, but I would suggest three other ways in which this will be manifested. First, the financial sector has become so bloated that going back to any version of "business as usual" is inherently difficult. Even ardent supporters of the financial sector think that much of its supposed growth since the mid-1990s is likely to evaporate. And there is no one who thinks that finance can continue to expand its already high share of our national economy. In our bubble/boom, we overbuilt, just like Japan overbuilt in the 1980s. Japan added excessive commercial real estate and too much manufacturing capacity; it took more than a decade to work off that overhang and the associated corporate debt. We overbuilt residential real estate to some degree, but mostly we overbuilt financial services. That overhang could disappear fast -- buildings decay over time, but financial services are just people sitting in front of computers. Turn off the perceived business model and there's nothing left -- except perhaps too much office space in former financial centers. Of course, it is possible that this aggregate contraction will come in terms of exits by smaller players in the financial markets, rather than downsizing the biggest banks. This would be ironic and also dangerous -- the real problem we face is from the banks and other financial firms that are "too big to fail" because they are so large relative to the financial system. If the biggest banks end up increasing their political and economic market share, this would not be good. In this context, my second potential mechanism will be important. As you suggest, much of what passes for "financial innovation" is actually various ways to rip off customers. The biggest, most "sophisticated" banks have become very good at getting people to overpay. Resistance to this kind of overpayment is growing. The existing level of fees, implicit and explicit, for all kinds of financial services has moved from irksome to completely unacceptable. Disappointed customers and rising competitive pressures are forcing these fees down. All of finance will be affected, but the biggest hit should be on the banks that are more about "rent extraction" than actually intermediating money from savers to borrowers. The big banks are definitely in this line of fire. You're going to see some aggressive new entrants, undermining all manner of previously effective cartels, at the same time as fewer transactions and lower fees. Third, there is great frustration and mounting anger among other members of our business elite. What the big banks have gotten away with is absolutely not in the interest of "real economy" entrepreneurs and the venture capital that backs them financially. It's also not in the interest of small and medium-sized banks who find themselves under increasing pressure -- particularly as commercial real estate goes bad -- but who are small enough and politically unconnected enough to fail. And the executives who run large nonfinancial corporations are beginning to figure out how badly they got clobbered and by whom. They are worried about the budget deficit, about the issue of money, and -- most of all -- about their future taxes. All of these worries are completely appropriate. And they understand very clearly who is responsible: the biggest of the big banks. Why does this matter? These business elites wield great influence, partly behind the scenes. They are increasingly articulating to their contacts in the administration and on Capitol Hill that "too big to fail" is no longer acceptable. I hear more and more, including from influential people in the financial sector, that there needs to be some sort of "tax" (speaking loosely) on size in finance. There is a growing consensus that if you are big enough to jeopardize the financial system and to require a future bailout, you should pay for that privilege. The payment can be in terms of higher capital requirements or something else. There are many ways to make this work -- as Deng Xiaoping said, "It doesn't matter if the cat is black or white, as long as it catches mice." The cult of size within the financial sector is over. Overall, I may be more optimistic than you about change for Big Finance being on the way. But I'm probably less positive about where this ends up more broadly for society. You have a long list of reforms throughout society, and while we can argue the details, I'm broadly sympathetic to many of your points. These mechanisms for imposing change on Big Finance, however, would do little to move things forward on a broader front. That needs a more comprehensive national leadership push. Personally, I have not given up on President Obama -- I think much of his strategic agenda makes sense and many of his tactics are sensible, but the banking crisis is still an Achilles' heel. If he can get past that, and put the big banks back in their (smaller) boxes, I'm optimistic that he will have the opportunity to push over time for more extensive reforms. And if not him, who? Thanks, Simon I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
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ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/26/2009 11:21 PM Report Abusive Post Report Copyright Violation | That`s too much reading, can`t you summerise it? Quoting: Anonymous Coward 731418*sigh* Global Banking insiders (formerly employed by the Global Banks) explain that their cohorts stole 40 trillion dollars intentionally with the aid of our politicians. *sigh again* I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
Anonymous Coward User ID: 735508 United States 07/26/2009 11:26 PM Report Abusive Post Report Copyright Violation | Once again, is there anything we can do. I continue to hear suggestions for an audit of the Fed, but what does that do? How does that get the money back from GS? What can we do about stolen money? Is there no laws to use to put someone in jail? Is there no jail big enough? |
Anonymous Coward User ID: 662552 Mexico 07/26/2009 11:26 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 662552 Mexico 07/26/2009 11:28 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 735316 United States 07/26/2009 11:31 PM Report Abusive Post Report Copyright Violation | That`s too much reading, can`t you summerise it? A very windy way of saying...WE STOLE YOUR MONEY AND THERE IS NOT A DAMN THING YOU CAN DO ABOUT IT. Then they graciously warn us that until we kick out the predatory lenders, aka london and wall street banksters, this country will never get back on it's feet again. Also they don't think anyone will be able to be prosecuted for the derivatives fraud and theft of the bailout money. But they are worried about getting away scott free with that much american wealth. :5: |
mothra User ID: 722115 United States 07/26/2009 11:32 PM Report Abusive Post Report Copyright Violation | |
ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/26/2009 11:43 PM Report Abusive Post Report Copyright Violation | Please explain 1, 2 and 3 things we can do to stop the rape. Quoting: mothra 722115Amurka won't even vote out the incumbent scourge. Amurka likes being raped. Evidently we do........... I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
Anonymous Coward User ID: 684422 United States 07/26/2009 11:51 PM Report Abusive Post Report Copyright Violation | You have the protection racket courtesy of Al Qaeda, the base, CIA database that is. You have the mob on Wall street clipping the taxpayer for $24 trillion. You have apparently politicians in cahoots with a human organ black market infrastructure run by Jewish Rabbis. You have the president bowing and scrapoing before local cops. Jeez Louise. |
Anonymous Coward User ID: 735316 United States 07/26/2009 11:51 PM Report Abusive Post Report Copyright Violation | 1). Outlaw campaign contributions by corporations. 2). Kick out the federal reserve and set up American banking system. With banks that will lend to meet community needs. 3). Enact laws that stimulate small and medium businesses that make up 70% of the jobs in America. 4). Lower taxes. This will get consumer spending going which is the engine of American growth. Obozo being a marxist will never agree to any of the above. He thinks the new American Cuba's where it's at. |
Anonymous Coward User ID: 575967 United States 07/26/2009 11:52 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 703996 United States 07/26/2009 11:58 PM Report Abusive Post Report Copyright Violation | The supreme court never said corporations had equal rights to US citizens. This notion was fraudulently added to a supreme court case (Santa Clara County v. Southern Pacific Railroad Company, 118 U.S. 394 (1886))headnote. Read Thomm Hartmann's book Unequal Protection. See the image of the letter written by Supreme Court Chief Justice Morrison Remick Waite to court reporter J.C. Bancroft Davis (ex railroad CEO) informing Davis that it didn't really matter whether or not he included a comment about the arguments before the court that corporations were persons "as we avoided meeting the constitutional questions in the decision." [link to www.de-fact-o.com] This single fraud is the foundation of all that is wrong with the country today. Without the FRAUDULENT PRESUMPTION that corporations have equal standing with US citizens, corporations could not control things the way they do today, and America would be as it should be, a much different place. Think of the lobbyists who would be out of a job ! |
dabrute User ID: 663873 United States 07/27/2009 12:05 AM Report Abusive Post Report Copyright Violation | This is what really makes me sick.. "Two: There has been no criminal investigation to date, so evidence supporting criminality has not been uncovered -- no one is looking for it. Liberals hate to think that Obama, led by Geithner and Summers, is part of a grand cover-up scheme, but that is exactly what is going on. How else can you explain the lack of criminal investigations? Why isn't the FBI breaking down the doors of the commercial and investment banks and grabbing computers so as to preserve incendiary e-mails that will most definitely implicate executives? Why are managements that caused this still in their jobs and still receiving bonuses? Are the bonuses paid to the folks at AIG that caused its collapse nothing more than hush money? How can the rating agencies still be in business? Why don't we make one arrest and lean on the bankster to see if he will fold like the cheap suit that he is and name other conspirators? The FBI spends more time investigating $2,000 drug buys than they have to date investigating the biggest heist in the history of the world: $40 trillion, that's trillion with a T, that's 40 million bags each containing $1 million." We should be boiling the tar and plucking the chickens!! The breath of Putin ass lickers smells just as bad as the breath of Biden ass lickers |
LIMITED HANGOUT ALERT User ID: 652370 United States 07/27/2009 12:10 AM Report Abusive Post Report Copyright Violation | This is not what it appears. It is a well crafted, subtle piece of expert propaganda fom the PERPS. The Rothschilds are behind the looting of the planet and 9/11 was planned in LONDON. Beware what you what you read and keep a sharp eye out for ANY sign of the NWO agenda being peddled along with "whistleblower" stuff. |
Anonymous Coward User ID: 679335 United States 07/27/2009 12:11 AM Report Abusive Post Report Copyright Violation | That`s too much reading, can`t you summerise it? Quoting: ScrumpTheTexan*sigh* Global Banking insiders (formerly employed by the Global Banks) explain that their cohorts stole 40 trillion dollars intentionally with the aid of our politicians. *sigh again* They don't mention that control of the MSM has contained the reactions. There are no journalists digging into the problem and informing the public. The public only knows what it's told. This is how they have controlled the FED boondoggle all these years. Maybe there never was a free press. This country will not ever recover unless 1. Lobyists are eliminated 2. The Press becomes free again. Don't hold your breath. You CAN fool most of the people MOST of the time. We're fucked. Your Senators and Congressmen don't give a flying fuck what you think. |
ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/27/2009 12:11 AM Report Abusive Post Report Copyright Violation | This is what really makes me sick.. Quoting: dabrute"Two: There has been no criminal investigation to date, so evidence supporting criminality has not been uncovered -- no one is looking for it. Liberals hate to think that Obama, led by Geithner and Summers, is part of a grand cover-up scheme, but that is exactly what is going on. How else can you explain the lack of criminal investigations? Why isn't the FBI breaking down the doors of the commercial and investment banks and grabbing computers so as to preserve incendiary e-mails that will most definitely implicate executives? Why are managements that caused this still in their jobs and still receiving bonuses? Are the bonuses paid to the folks at AIG that caused its collapse nothing more than hush money? How can the rating agencies still be in business? Why don't we make one arrest and lean on the bankster to see if he will fold like the cheap suit that he is and name other conspirators? The FBI spends more time investigating $2,000 drug buys than they have to date investigating the biggest heist in the history of the world: $40 trillion, that's trillion with a T, that's 40 million bags each containing $1 million." We should be boiling the tar and plucking the chickens!! ....nooses over the tree limbs...hundreds of nooses I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
same poster User ID: 652370 United States 07/27/2009 12:12 AM Report Abusive Post Report Copyright Violation | Uh, there are some serious red flags of propganda in this article, OP. Sure he's telling us what we ALREADY know - what Ron Paul has warned about for years; what Peter Schiff, Max Keiser and others have been all over, for years, BUT....... The author of the article very conveniently leaves out the central driving force - EUROPE. He lays the blame on the US, as though it's anywhere near the top of the bankster/politico mafia power structure. On top of that, he slips in the British agendas of "global warming" and the takeover of American's health care. Quoting: LIMITED HANGOUT ALERT 652370This is not what it appears. It is a well crafted, subtle piece of expert propaganda fom the PERPS. The Rothschilds are behind the looting of the planet and 9/11 was planned in LONDON. Beware what you what you read and keep a sharp eye out for ANY sign of the NWO agenda being peddled along with "whistleblower" stuff. And, Obama works for Britain, not the US. |
Anonymous Coward User ID: 679335 United States 07/27/2009 12:14 AM Report Abusive Post Report Copyright Violation | This is what really makes me sick.. Quoting: dabrute"Two: There has been no criminal investigation to date, so evidence supporting criminality has not been uncovered -- no one is looking for it. Liberals hate to think that Obama, led by Geithner and Summers, is part of a grand cover-up scheme, but that is exactly what is going on. How else can you explain the lack of criminal investigations? Why isn't the FBI breaking down the doors of the commercial and investment banks and grabbing computers so as to preserve incendiary e-mails that will most definitely implicate executives? Why are managements that caused this still in their jobs and still receiving bonuses? Are the bonuses paid to the folks at AIG that caused its collapse nothing more than hush money? How can the rating agencies still be in business? Why don't we make one arrest and lean on the bankster to see if he will fold like the cheap suit that he is and name other conspirators? The FBI spends more time investigating $2,000 drug buys than they have to date investigating the biggest heist in the history of the world: $40 trillion, that's trillion with a T, that's 40 million bags each containing $1 million." We should be boiling the tar and plucking the chickens!! I don't remember the FBI solving 911. I don't remember that they tried. Nobody is going to investigate this. People on the inside already know, and they don't want you to know. |
ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/27/2009 12:15 AM Report Abusive Post Report Copyright Violation | Uh, there are some serious red flags of propganda in this article, OP. Sure he's telling us what we ALREADY know - what Ron Paul has warned about for years; what Peter Schiff, Max Keiser and others have been all over, for years, BUT....... The author of the article very conveniently leaves out the central driving force - EUROPE. He lays the blame on the US, as though it's anywhere near the top of the bankster/politico mafia power structure. On top of that, he slips in the British agendas of "global warming" and the takeover of American's health care. Quoting: LIMITED HANGOUT ALERT 652370This is not what it appears. It is a well crafted, subtle piece of expert propaganda fom the PERPS. The Rothschilds are behind the looting of the planet and 9/11 was planned in LONDON. Beware what you what you read and keep a sharp eye out for ANY sign of the NWO agenda being peddled along with "whistleblower" stuff. So much of this stuff that's going on is only a means to an end. A single world currency. Just like "Audit The Fed", which would be great if it didn't have an ulterior motive. Sure, The Fed is corrupt. Sure the Global Banking system is corrupt. But the only reason TPTB are tearing these down (and so publicly) is that they already have something much worse waiting in the wings to replace it all. Last Edited by ScrumpTheTexan on 07/27/2009 12:16 AM I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
Anonymous Coward User ID: 510267 United States 07/27/2009 12:15 AM Report Abusive Post Report Copyright Violation | Uh, there are some serious red flags of propganda in this article, OP. Sure he's telling us what we ALREADY know - what Ron Paul has warned about for years; what Peter Schiff, Max Keiser and others have been all over, for years, BUT....... The author of the article very conveniently leaves out the central driving force - EUROPE. He lays the blame on the US, as though it's anywhere near the top of the bankster/politico mafia power structure. On top of that, he slips in the British agendas of "global warming" and the takeover of American's health care. Quoting: LIMITED HANGOUT ALERT 652370This is not what it appears. It is a well crafted, subtle piece of expert propaganda fom the PERPS. The Rothschilds are behind the looting of the planet and 9/11 was planned in LONDON. Beware what you what you read and keep a sharp eye out for ANY sign of the NWO agenda being peddled along with "whistleblower" stuff. Good insight. Once again, we are told what to believe. This is how it happened: According to Goldman and the IMF. |
ScrumpTheTexan (OP) Forum Administrator User ID: 735504 United States 07/27/2009 12:24 AM Report Abusive Post Report Copyright Violation | Thanks for the pin, Mods I am a Christian. Christian does not equal doormat or pushover "I Have Sworn upon the Altar of God... Eternal Hostility against every form of Tyranny over the mind of man." -Thomas Jefferson, Sep. 23, 1800 The Election of Donald John Trump: [link to www.godlikeproductions.com] For previous Newsletters, click 'Scrump's News Letters' @ [link to www.godlikeproductions.com] |
dabrute User ID: 663873 United States 07/27/2009 12:24 AM Report Abusive Post Report Copyright Violation | This is what really makes me sick.. Quoting: Anonymous Coward 679335"Two: There has been no criminal investigation to date, so evidence supporting criminality has not been uncovered -- no one is looking for it. Liberals hate to think that Obama, led by Geithner and Summers, is part of a grand cover-up scheme, but that is exactly what is going on. How else can you explain the lack of criminal investigations? Why isn't the FBI breaking down the doors of the commercial and investment banks and grabbing computers so as to preserve incendiary e-mails that will most definitely implicate executives? Why are managements that caused this still in their jobs and still receiving bonuses? Are the bonuses paid to the folks at AIG that caused its collapse nothing more than hush money? How can the rating agencies still be in business? Why don't we make one arrest and lean on the bankster to see if he will fold like the cheap suit that he is and name other conspirators? The FBI spends more time investigating $2,000 drug buys than they have to date investigating the biggest heist in the history of the world: $40 trillion, that's trillion with a T, that's 40 million bags each containing $1 million." We should be boiling the tar and plucking the chickens!! I don't remember the FBI solving 911. I don't remember that they tried. Nobody is going to investigate this. People on the inside already know, and they don't want you to know. You may not remember it but the FBI claims it to be "our largest investigation EVER" [link to www.fbi.gov] The breath of Putin ass lickers smells just as bad as the breath of Biden ass lickers |
Anonymous Coward User ID: 422489 United States 07/27/2009 12:26 AM Report Abusive Post Report Copyright Violation | Uh, there are some serious red flags of propganda in this article, OP. Sure he's telling us what we ALREADY know - what Ron Paul has warned about for years; what Peter Schiff, Max Keiser and others have been all over, for years, BUT....... The author of the article very conveniently leaves out the central driving force - EUROPE. He lays the blame on the US, as though it's anywhere near the top of the bankster/politico mafia power structure. On top of that, he slips in the British agendas of "global warming" and the takeover of American's health care. Quoting: ScrumpTheTexanThis is not what it appears. It is a well crafted, subtle piece of expert propaganda fom the PERPS. The Rothschilds are behind the looting of the planet and 9/11 was planned in LONDON. Beware what you what you read and keep a sharp eye out for ANY sign of the NWO agenda being peddled along with "whistleblower" stuff. So much of this stuff that's going on is only a means to an end. A single world currency. Just like "Audit The Fed", which would be great if it didn't have an ulterior motive. Sure, The Fed is corrupt. Sure the Global Banking system is corrupt. But the only reason TPTB are tearing these down (and so publicly) is that they already have something much worse waiting in the wings to replace it all. |
Anonymous Coward User ID: 699679 United States 07/27/2009 12:28 AM Report Abusive Post Report Copyright Violation | "Liberals hate to think that Obama, led by Geithner and Summers, is part of a grand cover-up scheme, but that is exactly what is going on. How else can you explain the lack of criminal investigations?" Yup. That's exactly how it is. It's the only thing that explains why Obama would hire to extremely incompetent people to run the country. |