Tuesday, March 19, 2013

Wouldn't It Be Loverly: Big Bank Justice

This Gives New Meaning To "Bank Robbery"
The American people inhabit a nation that has been held hostage by an inability to apply accountability to the "Too Big To Jail" Plutocracy.

The Plutocracy that sits on top of several governments in the west, the Plutocracy that dictates economic policy through a form of legalized extortion.

They have the power to move massive amounts of money in and out of banks as well as in and out of nations, and they also have massive buying power.

Their wars in Afghanistan, Libya, and Iraq flushed them with money from their military sector businesses, and the oil flows that were seized in Iraq and Libya add more cash into their coffers.

Criminal greed on steroids being what it is, they wanted more from the 99%, more from the poor, so they went after what they called entitlements and what the 99% calls Social Security Insurance which they paid for all their working lives.

So the inane "sequester" episode, composed of the privatization of plunder along with the making public of the Plutocracy's gambling debt at the Wall Street Casino, set them back.

All the "we are bankrupt" talk took a chunk out of their military munitions cash flow, so now we have a new mantra for the neoCon robopunks to mouth incessantly:
"House Speaker John Boehner broke from some Republicans on Sunday when he agreed with President Obama and other Democrats who say the country does not have an immediate debt crisis.
His comments were backed up by fellow House Republican Paul Ryan, chairman of the House Budget Committee."
(Fox News, emphasis added). This propaganda babble will soon morph into "so now we can reinstate those tax cuts for the 1%, and reinstate the military budget that has doubled since about 2000."

The wimpy DOJ section on bankster fraud, led by the itsy bitsy Holder of a Big Heart, is not going after the Plunder Barons because they are "just too big to fail."

But just now the U.S. Supreme Court has in essence said that private individuals can go after them because they are just too big for their britches:
Goldman Sachs Group Inc suffered a defeat on Monday as the U.S. Supreme Court let stand a decision forcing it to defend against claims it misled investors about mortgage securities that lost value during the 2008 financial crisis.

Without comment, the court refused to consider Goldman's appeal of a September 2012 decision by the 2nd U.S. Circuit Court of Appeals in New York. Goldman shares sank more than 2 percent.

That court let the NECA-IBEW Health & Welfare Fund, which owned some mortgage-backed certificates underwritten by Goldman, sue on behalf of investors in certificates it did not own, but which were backed by mortgages from the same lenders.

Goldman and other banks have faced thousands of lawsuits by investors seeking to recoup losses on mortgage securities. The bank has said that letting the 2nd Circuit decision stand could cost Wall Street tens of billions of dollars.
(No Supreme Plunder Relief). Thank you courts, in this case, for once staying on the side of the people -- for whom the U.S. Constitution was written.

And thanks to Senator Warren:
"I agree with Elizabeth Warren 100 percent that it’s a real problem," he said.

He also sided with Warren against those banks and others who suggest that having gigantic banks is not really a problem at all.

"Too Big To Fail was a major source of the crisis," he added a little later, "and we will not have successfully responded to the crisis if we do not address that successfully."
(Bernanke & Warren Agree). It is politically significant that the Fed Chair agrees, so let's go get them gang, because itsy bitsy Holder is afraid to.

Related posts/series: The Graphs Of The Age Of Plunder - 3, Bush II Eradicated The Robber Barons - 4, You Labour In Vain & Get Plundered.

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