A just penalty for bankers

moneypile2 I have been thinking of bankers. I admit, I have thought ill of them most of my life. All bankers are not bad. There are good men among thieves.

But the bankers at the top of the financial world have caused too much misery and death in this country. I am short on love and compassion for them. Many a poor soul, some innocent of any crime, have been strapped to a gurney while the law stabs its needle into their arms, men, some condemned and executed for heinous crimes, but who have been responsible for far less pain and far fewer deaths than these world bankers have caused.

We are at fault, of course. We have fallen into the belief that those who have money must be respected and trusted. We have delivered our lives and well being to them. They have betrayed us. The culture on Wall Street practices the idea that profit is morality. It is all right to steal, to gouge, to throw poor people out in the street in the cold of winter if it promotes profit. On the other hand it is moral to tell people they must buy certain cars and homes and TVs if they wish to be acceptable, even if they cannot afford it, even if they must become financial slaves to pay off the banks.

Consumerism, which at the moment is being touted by the money cartel as necessary to save the nation, is another word for slavery. We suffer only a different master. The black slave of old at least knew his master’s face. Black slavery was cruel beyond understanding. But the master was a living, recognizable being, wicked as he was, who did not hide his identity from the slave.

The slave masters today are the banks. They are faceless corporations who exercise their mammoth powers against ordinary citizens, sit in plush offices, fly in private jets and exercise their dominion over whole nations. The people they injure and kill by their profit decisions are as faceless to them as they are to their victims. Their victims are mere numbers on endless pages, victims who are now asked to save the bankers.

I am not for the death penalty, even for bankers. But if I were to choose a punishment against those who have exercised their evil power of profit over our injured and dying citizens, it would be that these bankers might drown in the tears they have wrought in pursuit of their insatiable, wicked greed.

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44 responses to “A just penalty for bankers

  1. AIG is not even a bank, it is a hedge fund connected to a commercial gambling operation, on credit default swaps, and the Fed is pouring over $ 160 billion of tax payer money into this RICO machine
    The Fed is a partner in crime with msster criminals, who are literally taking America down.

  2. How does America get duped by the bankers? How does a “financial crises” serve as a vehicle to bankrupt the country and turn America into a country dependent on their government?

    It’s actually pretty easy but you have to go back a few decades to UNDERSTAND how it’s done. Even Jerry Spence has been conned by that “mystery.”

    I’d LOVE to see the look on Vince Bugliosi’s face when he finds out the US Government made him look like an absolute fool. I’d love it even more if Jerry Spence explains it to him. The rest of the story is even better than the YOUTUBE video.

    Until you figure out how it’s done, the bankers will continue to rob us all blind.

  3. I’m with you Gerry. I don’t like banks. The frightening thing is that with every passing day there are fewer of them to dislike.

    I am lucky, I guess. As we witness the relentless wave of foreclosures and the collapse of the American Dream, this past week I had the experience of making the final mortgage payment on my home. It wasn’t easy. Even though I have made every single payment to “Megabank” and on time since the inception of the loan, I was informed in a terse letter that the final payment would be handled differently. I could not use a personal check. I couldn’t even pay off the mortgage at one of the numerous “Megabank” facilities located throughout the Chicagoland area. Instead I had to send certified funds to “Megabank’s” payoff department in another state. I also was warned that if the slightest mistake were to be made, my payment would be returned to me “and interest would continue to accrue.”

    All of this kind of surprised me. As a customer with assets, or at least one big one, I thought that “Megabank” would use this occasion to be nice and solicit me for more business. Instead I was told me to dance to their drummer one more time or face the consequences. And so I danced. But now “Megabank” can collapse for all that I care. I’m not coming back.

    When I started to practice law over thirty years ago, Illinois had a usury statute. Today I wonder if new attorneys are even familiar with the concept. It all amounted to this: there were limits on the amount of interest that could be charged on any loan. A violation of this law was derogatorily referred to as “loan sharking.” And so when the usury laws went away, the banks went into the loan sharking business. But as the banks ultimately found out, loan sharking only works when the victims can afford to pay.

    It is hard to feel much sympathy watching one’s loan shark starve to death. Nonetheless, the government has stepped in and declared that the predator must live. And so now the victims must donate blood for compulsory transfusions.

    It seems that debt has become the new American prison with the bars going up as soon as a child reaches majority. In order to go to college, a student will take out a loan and with that the process is underway. Today, in America, ownership seems only to exist on a theoretical plane. Instead success is defined by climbing up as close as one can to zero.

    Debt reminds me of a game I played as a small child. I would put a block on the floor and then a block on top of that block, then a third and a fourth. I would then pile the blocks up higher and higher to make a tower. But no matter how much care I took in arranging the blocks, eventually the whole tower would come tumbling down. And so it is with debt.

    I like our new President Obama and I only wish him well. That being said, I don’t know how he or anybody else can keep this plane in the air. These so-called bailouts seem illusory to me. As far as I can tell, it’s just a new tower of blocks.

  4. Re my prior comment, please note that “Megabank” was not the actual name of my lender but merely a generic term I used to indicate that the lender was quite large in size.

  5. Well, if there were not banks to dole out money, then more Mt Resort real estate would take a bath, as sales would stop, and Teton house sales(and prices) would drop as much as some high subprime areas.(the next shoe to fall)
    Face it, some high end rollers are now looking at net value holdings 60 % less than they were(AKA taking a bath) , but 6 months ago.
    All banks are not the same.
    Investment banks, and hedge funds were not regulated.
    So, what did the morons at the FED( you know, Geithner the tax cheat, who runs the Treasury DEPT ) do ? They forced solvent banks to merge with crooked operations(cooked books) like Merrill Lynch, to then endanger many banks, and seem to be playing games to endanger all commerce in America( that maintain jobs—millions of jobs, as unemployment #’s are sky-rocketing). Well if profit is such a dirty word, how come there are so many rich lawyers like Edwards, and other P I buddies of Gerry ?
    Apparently, they do not barter trade in whiskey, and beads, and deal in money, and they surely must not be living in flinty run down trailers ! But, when a small number of Merrill Lynch executives skimmed off billions, before, that Investment bank went bellyup, that is the poster child for the troubles that have befallen America. But where are the cops( D. A), FBI, SEC, DOJ etc to make those
    sharks accountable ?
    Where– MIA, missing in action.
    But, Madoff’s wife may keep millions, and some super mil $$$ townhouse, since she is so unaware of all the Madoff follies(so the deal in the wind is in the works), just like Imelda Marcos, and her passion for shoes.(and NY real estate launderings)
    Do banks hold a gun to people’s heads, and order one to take out a big loan, or cement boot-city ?
    This broad-brush on banks, and money is most interesting, maybe Pravada, and Putin is what some would rather have run the commercial affairs, but is that really America, the USA some spilled their blood for on battle fields.
    Well, maybe not some from Wyo( Aspen Pines in the Tetons), they had better things to do, like get 5 draft exemptions.

  6. Your thoughts remind me of the last two verses of Woody Guthrie’s song, Pretty Boy Floyd:

    Yes, as through this world I’ve wandered
    I’ve seen lots of funny men;
    Some will rob you with a six-gun,
    And some with a fountain pen.

    And as through your life you travel,
    Yes, as through your life you roam,
    You won’t never see an outlaw
    Drive a family from their home.

  7. I tried to post yesterday concerning HOW lies are told, how the most obscene in our society steal from all of us. As Gerry pointed out, the bankers head the list of those who deceive all of us. To UNDERSTAND you have to comprehend how huge lies are told and believed by the masses, the best example is from decades ago. Gerry Spence was involved and bought into the “lie” just like Vince Bugliosi did, in fact, we all did.

    Look at the solution to the biggest “mystery” in history. As you ponder if this could really be true, factor in that the odds are well over a million to one that what is I show is correct. If you want to bet that it couldn’t be this simple, I’ll be glad to take your money.

    It’s a SECRET, not a MYSTERY. And the lies told to keep it a SECRET dwarf anything you can imagine.

  8. Banking is not a religion.
    The root of all evil is the absence of money.
    Most lawyers won’t give you the time of day, if they can’t angle to see you as a giant ATM.
    Lawyers, especially P I lawyer’s are obsessed with money, big houses, all the trappings of consumer city.
    You are examined as a spread sheet from the time a file # is put on you as a living person.

  9. Well, the central bank, the Fed, has ” In God We Trust” on one side of the cash, and on the flip side”
    ” This note is legal tender, for all debts, public and private”, with the inscription on all paper cash, Federal Reserve Note”.
    Now, Tim Geithner, will sign all cash notes in the O Admin.
    He is messing with your savings, whether you know it or not, that is no longer some secret of any money changers ” temple”.

  10. Let, me put it to you another way, What happened to the value of German’s money, before Hilter rose to power..?
    Surely, that lesson in history, does not escape you, as we wade into banking, and “bank notes”
    Trouble — big trouble– is upon us.

  11. In response to Ramon, I’d say that you may not believe banking is a religion, but I’m sure the bankers who earn their salaries hawking debt for a living (you know, the offering of those nasty little plastic things called credit cards with their usurious interest rates) privately disagree with you. Even if they don’t have the honesty to admit it publicly.

  12. Mr Spence:

    I am not sure why I can’t hypertext an article for you to look at–here.(some tab in presto..like Charleston)
    But, if you go to googles, and put in AIG, where taxpayers dollars go to die in the New York Times by Gretchen Morgenson, I challenge you, and(or) any of the very bright lawyers who visit this board, to tell us taxpayers, how the dumping of over $ 160 billion(so far) was even constitutional(under the U S constitution), and I challenge any U S Senator to come on this board and explain so, too,—explain so to the U S taxpayers.
    Does the U S Constituion require some London based operation of AIG that insured derivatives, and default swaps as to gambling as to even foreign banks(counter parties), to be hooked into mad power( D. C) so as to make the U S taxpayers the suckers of last resort.(AKA put under banner, BAILOUTS)
    I challenge any sane person, who is honest, and sincere, and pays U S taxes, to explain that to the U S taxpayers on this board.
    Simply, the U S Senate(Congress) has made the USA and its taxpayers the sucker of last resort.
    That is not banking, it is not regulated banking, it
    is the biggest shakedown in world history of a rigged game, making the U S taxpayers targets.
    Will any Senator come on this board and defend his vote, defend the swindles pulled by AIG , where AIG is rewarded for swindles, to make the U S taxpayers, the suckers of last resort.
    Now, the Fed is making it secret where all the billions went—off shore.
    This AIG stuff is not banking, it is the most massive holdup, shakedown, and sell out in the history of the world, and I urge you Mr Spence to take this challenge to see if even one U S Senator will address the U S taxpaying public—here. Or, will they be too busy trolling for PAC money for God knows only who.
    This AIG stuff has revolution to overthrow the U S Constitution by gutless, spinless Senators written all over it, and they hide from the public, unable to address fundamental questions that go to the heart of the
    Nation–under a U S Constitution.

    • Congress, unfortunately or fortunately (depending on who you talk to), has broad power to tax and then spend for a variety of purposes in a variety of ways. It all originates from Art. I, Sec. 8 of the U.S. Constitution: “The Congress shall have power to lay and collect taxes, duties, imposts and excises, to pay the debts and provide for the common defense and general welfare of the United States; but all duties, imposts and excises shall be uniform throughout the United States; To borrow money on the credit of the United States; To regulate commerce with foreign nations, and among the several states, and with the Indian tribes; . . .”

      So whether corporate welfare or individual welfare, the federal legislature has the authority to spend for “the general welfare” subject to none too many constitutional provisions.

  13. Just penalty: Is AIG crying its eyes out, when
    $ 160 billion was dumped in its coffers.
    It is laughing on its way to the London Pubs, and the Swiss number accounts, and it is like they are dumb founded that such abetting of corruption is found right in the halls of Congress, who sells America out, at every turn.
    AIG = overthrowing of
    U S Constitution

  14. Please note: http://www.drudge.com/news/118540/tpm-understanding-aig-and-money
    THE FED is using gimmicks just like Enron did, to feed taxpayer billions to AIG, as a shell entity to European operators, dealing in
    deriviative swaps.
    The Fed is not acting as a central banker, it is operating like Enron-Ponzi

  15. Hi Susan:
    Having had my credit card rate boosted to over 25 % with no notice, because I was late on 2 payments, I am hard pressed to take exception to your salient observations.
    However, what demoniation/ religion am I dealing with.
    Usury has had a long opposition from many religions.
    What Senator is the King of getting Credit card PAC $$. ?
    he is now Joe the VP.
    I tend to agree with your comments Susan, except
    greed is not the link to
    religion, is it..?
    Unless money is the new God in some suites..

  16. And, the irony, Susan, is I made a donation to Obama on a credit card, little did I know he would call “change”getting on the AIG, stick it to America program.
    Are political Parties religions, too ?
    The new blue robes of sacremental power,
    BA is the credit card company that soaks me,
    is its President like the Pope..?I need to switch credit card companies, go to a new temple.

  17. Not sure if, Susan, belongs to the church of any credit card companies, but most adults fill those pews.
    One can be late by a day, and if late 5 months later on a monthly payment, the rates are jacked up to over
    2x what used to be illegal
    usury rates.
    Deleware is where some big credit shark operators had sway over Biden( Joey
    the mouth)
    He calls himself a trial attorney for civil rights.
    Try finding in lexis etc, one civil rights trial he every had for Bobby average citizen worker, there are none , he was the loan sharks best pal.
    So, Susan. The biggest snicker has got to that of
    smirking Joe.
    think he will come on here
    to address the AIG matters. ?

  18. Loan shops follow the golden rules.
    They got the gold. Make the rules. You dance to their music, as do all those D C Con-gressmen.

  19. The pit falls of credit cards are many: To wit:
    http://moneycentral.msn.com/content/Banking/creditcardsmarts
    But, they are big profit centers for banks.
    Also, the credit card companies have a powerful lobby machines, with millions to hand out real big cash loads in the PAC rings, to rig the card practices, when it comes to credit card operations:
    http://www.commondreams.org/headlines01/0313-02.htm
    However, carrying around cash(bills with Old President PICS) on them is not the way of commerce, that plastic is the grease of commerce.
    Surely, most lawyers here are into cards, and don’t carry around big wads of cash, and besides it makes such a convenient way for big corporate law firms to run expense ledgers on their corporate clients, it all goes hand and glove.
    Political operations now use credit cards, just put it on plastic, and even the Government Departments use credit cards.
    Plastic fantastic, it is the American way. Don’t you get about 2 or 3 applications in the mail, per week, from such outfits as Capital One, trying to hook you ?
    It is so in sync with surges, splurges, and stimulants, to keep the rat race spinning on the tread mills.

  20. AHH money a favorite of all of us. Who does not want or need some. Who will say “no more for me thank you”? How can we live without it. How many can buy a car or house without the banks help. I wonder is all bankers are evil. I do not think so. I am reminded of the movie Its a Wonderful Life with Jimmy Stewart. There are those bankers who look at that movie and say I want to be like that just like there are those lawyers who watch To Kill an Mocking Bird and say I want to be like that. Come to think of it how many lawyers lined their pockets with the banks money to say ” this is how we set this deal up to be lawful”. (humm fieger)
    Or how many lawyers now feed on the litigation of bankruptcy and foreclosure.
    Most love money when they have it and hate it when they owe it. It is a necessary thing — and with it banks. What would we have in place of banks? And they may be mindless heartless things but those things are operated by people and some of those people are lawyers who by what they do provide as much as they can for their own families. SO where does that leave us? If maybe as Mr Spence has done here is to call out the greed maybe other generations will say don’t be like that.
    But a fellow who was nailed up on a cross about 2000 years ago was unable to do so. See John 2:13 and Mathew 21:12. And he didn’t just write about it he physically threw the money changers and traders out and turned over their tables .

  21. We moved a lot when I was a boy and everywhere we moved one of the first things my father was to meet the local banker. Dad started many small businesses to support his family that included three hungry sons. He would borrow a few thousand dollars and we were off and running trying out his latests dreams.

    Bankers where Good News before the government got involved with their business but poor bankers that cannot make a profit should be allowed to die.

    Who is John Galt?

  22. To Ramon,

    The statement you made about attorneys only caring about the money they make, I wonder if you really know anything about the attorneys who work in public defender’s offices, for little pay, while representing the poor who cannot afford an attorney. Do you cast them in the same light as in your post above? What about the attorney who has a staff of excellent professionals, a team that is accomplished enough to even the playing field against the government and it’s unlimited resources in a criminal case. Should that lawyer not be paid for his work and the work of his team? I will agree that there are lawyers who could care less about their clients and are simply going through the motions, there are bad apples in every profession. But if you want to throw a blanket over all attorneys and call them money hungry whores then you might want to call into the trenches where many of them toil against the government while fighting for a man’s freedom and good name.

  23. I deposed a banker once. I was not overwhelmed.

    Q. So you just cut him a $700,000.00 check before the title search came back?

    A. Yes.

    Q. What did you do a thing like that for?

    A. I don’t know.

  24. I agree with Mark G. and Mr. Spence. There are “bad apples” in every profession, but that is certainly not a reason for condemning the legal profession as a whole. I have a great deal of respect for Mr. Spence and all trial attorneys who fight like hell for their clients in both criminal and civil cases. Our country’s biggest problem; there aren’t nearly enough of them.

  25. Gerry,
    As a TLC alumni (07′), I would like to thank you for not labeling all bankers as the heartless evil bastards many of them are. Some of them are easily as bad (or worse) as the “ambulance chasers” image that we attorney’s fight. My wife, Maggie, who has been taken down with the entire “Stanford” case, is a genuine and loving woman who cares for her clients more than most doctors and lawyers I know. The brokers she supervises were emotionally destroyed when Stanford collapsed under what may be a government backed overreaching into the foreign accounts of American citizens and account holders internationally. No one knows the truth yet. I have seen strong men cry, and they were bawling. She is a good woman, and, inside the industry, there are many “cogs” that are just as disgusted with the economic situation as you are.

    At the same time, you hit the nail on the head. Worshiping greed, profit and society’s definition of “success” has led us on a dangerous path towards international instability for the benefit of a miniscule minority of super rich. I am not a terribly religious man (I like “spiritual” instead), but worshiping false idols is a sin in pretty much all faiths. I do hope the new administration and regulators (with whom I have many agreements and disagreements) simply look at our situation from the common man’s perspective. What we need is ethical and open reform of our markets combined with effective, yet limited, regulations that protect the less sophisticated and uninformed from the predators our market creates out of necessity. Keep up your voice as we need experienced speakers to advocate for common sense.
    Joshua Schiffer

  26. Pingback: Banksters and Broke-sters « FiegerTime - Geoffrey Fieger’s Blog

  27. Bankers attorney’s are the ones who tapped into the Fed, the subject is not some kid charged with stealing a box of tuna fish from Sam’s Club.
    why did Mark get up on his
    high horse to do a diversion from the subject as some bankers, play the Nation as suckers.
    Some bar back scratch Club.

  28. Certainly a P.D., or a D.A., or a US Atty should be paid, and paid a good living wage, as a professional, and commended if he/ she does his job well , and is dedicated to such important work. They help to hold the bonds of our society, together.
    But, how did we come to the point in America that one company can extract
    $ 160 billion out of the U S taxpayers hide, and the Chairman(ex) of that company expressed utter hate for American lawyers, who represent average U S citizens ?
    Who are the lawyers for AIG, what ticket are(were) they milking, who are their NY facilitators, who is the NY Insurance Commissioner, who used to work in Spitzer’s NY AG office, who is the GOP operative who set up Spitizer(hooker- sting), to put a leash on him as to not going full bore agaisnt AIG ?
    These and many other questions go to the essence of how a company like AIG did not operate in the public interest, but has done as much damage(much more) to America than 9-11 crashes(WTC).
    How come it was allowed to operate in such a dangerous fashion to America ? Some in high places don’t care for America to know the answers to those questions.
    The truth will not be below the surface, forever.
    This is not a case of some welfare cheat, in a pink Chevy in Detroit, clipping food stamp coupons
    This goes to one corporate operating out of London(AIG swaps, derivatve section), who had friends in high places, who has done so much damage to the very fiber, and very fabric and into the core of America. Some will work over time to seek to put a cap on the truth, to divert you, to confuse you, to mislead you.
    Bernie Madoff was a small
    time crook, compared to what AIG did, and how it broke into the U. S vaults, gratis of the U S Congress.
    Why would the FED want to be a partner with the biggest criminal enterprise in the world ?
    That is the 64 G question–as they say.

  29. Meg, if you had read back a bit further, Mark G. was responding to “Ramon” who attacked the entire legal profession because he took offense to bankers being justly criticized. At least, that’s the way I read it. Last time I checked, my reading skills were working fairly well.

  30. To Ramon and Rubino:
    No, I don’t belong to any “church of the credit card companies.” In fact, I stopped using them over five years ago, for the chief reasons you cited, the banks’ usurious interest rates, and what I felt are their openly abusive practices. I find it much easier and more pleasant to do without them. My debIT card can act as a credit card when I request it, so I don’t find using a credit card necessary anymore. I hope that will clear things up.

  31. BIG HOG MAN:
    The continuing story of the Hanky Panky gang.
    Hanky Greenberg(AIG ex Chairman–Mr SWAP) the man who hates, American plaintiff’s lawyers, and who waged that crusade in the press.
    And, Hanky Panky, Hank Paulson, the ex Sec of Treasury for the U S Treasury.
    Hanky Paulson had a $ 20 billion conflict of interest.

    Read about it, here:

    http://blackstarnews.com/?c=125&a=5456

    The Wall Street Journal, or Barney Frank don’t really care to level with the American public.

  32. Susan:
    i hope you read the piece noted by David, and the Georgia exit group(who was arrested, even noted Doc K), since you are touting the excellence of your decoding other’s views on lawyers, bankers, and dogs(on thin ice). Because you have read the mind of bankers on religion, that must give your special powers to read in things, to add the unstated. Ok. Truly, a remarkable skill.
    The assertions of the particular persons will stand as they were stated by them. But, thanks for your usual keen interpretations. As to credit card companies, who process matters for banks) if one pays the bills on time, those usury rates can be avoided. But, people get busy, and get caught up in that web, and often have no clue of the add on fees, they get stuck with. As to bankers’ attorneys, let me ask you a question Susan since you seem to be really up on this:
    AIG got $80 billion(with a B), doled out by the FED, run by Ex CEO GOP operative, and the Fed took 80 % of the assets(of AIG).
    Now, most ordinary citizens, would figure that if the FED had doled out $ 100 billion, it would have gotten 100 % of the AIG assets.
    But, no; later the Fed doles out another 4 x times $ 20 billion(again with a B), and it seems no accounting, no list of how the billions were laundered.
    I just wish, a list of all who ran this AIG thing –by name etc–could be put up(on ever BLAWG in AMERICA) for the American people to carefully examine things.
    You, and me, have to pay our bills, we may have different POVs, we meet our civic responsibilities, but these( SECRET CLUB) of people tapping in for billions with no accountability is causing a lot of people(taxpaying citizens) to question how things are so out of control in D. C. And, who are the big corporate law firms for the AIG funnel operations ?
    Do any care ? Any lexis, searches, any record searches, I bet you reading skills there Susan, could really open some eyes.

  33. I have a card for my son, he uses it for lunch money, etc.( H S) Every time I add to it( a balance), some fee is taken out, 2 % on the credit balance(or something like that).
    I don’t care to have him carry around much cash. I know, Susan, you, and me, or most Americans, have to watch every dollar, each month we have to gadge some budget.
    But, no, in the wonder world of D. C vast billions are doled out to some SHELL entites, passed(stealth like funneled) to others, and no accountability—at all–to Congress, the people, taxpayers.
    We are entitled to a full accounting, and and I hope people will demand Congress do so— soon, very soon.

  34. I know this person(who may be typical of many) who goes to an ATM, with a creidt card to get $ 200/ per month. The ATM bank company takes out a 2 % fee, then she puts the $200 in some plastic card for her kid, for lunch money, and necessities, and that card(not a credit but a quasi debit card) takes out another 2 %.( GREEN DOT)
    Then, she is late on paying her credit card, so then( V card) it jacks up her repayment rate to 28 %.
    So, on the poor woman’s seeking to provide her teenage kid with spending money, on that $ 200,(gasoline, lunch money etc) she has been caught in a tread mill of about 34 %.
    Then, that adds up every month, as she falls futher behind. All along the plastic chain, is a spiraling cascade of fees.
    It hits the most vulnerable in society.
    People who get caught in that plastic spider web are already short on cash to get by, even though they may work 1 or 2 jobs(at explotation wages), and have kids, and a family to support.
    I don’t know what the solution is, but sometimes maybe just figuring out how to avoid getting entrapped in a plastic jungle is advisable.
    Unfortuntely, just putting a piece of plastic in a machine, to get desperately needed cash is a situation of those in dire need in this society, in what might best be described as a rat race, where more plastic turns up the tread mill to a speed that people never get off of. Congress has allowed credit card companies to jack up rates to the worst form of usury possible, & do so with inadquate notice, and fee adding abuses.
    It has done this while traffiing in vast billions for the credit default swap club, with no accountability. Mr Spence is correct, there is a new form of slavery in America, but who will free the slaves( citizens) this time around ? It won’t be the ones who can tap the FED for trillions to add on to your back(your childerns) more vast debt loads, as if placing debt on your back is the new
    agenda of the elite, the powerful, and the absolutely corrupt(those who control the levers of government).
    Go to a drug store some time, or a Target, every day, you can see some poor mother loading her kids debit(green) card, as she has to rush off to some 2nd job, that pays an awful salary, as she falls futher behind on her slavery usury rates, which was set up by the Congress of the USA(for its big PAC donors), the plastic industry, loan sharks at large.

  35. Let me set the over view on Sucker Economics(SE) 101:
    CDS–or credit default swaps are a form of insurance that reckless lenders take out to seek to insure they will be paid back.
    So, if they are really reckless in lending they look to CDS games.(hedges to cover their toxic lending bets)
    CDO— collateralize debt obligations are the bundling of flakey loans in the form of securites, that big investment banks sold all over, like Lehman Bros, and Bear Sterns that went bellyup.
    Ok, so who was the underwriter of the toxic CDS paper, this shell game called AIG, whose ex CEO is now suing AIG as a fraudster.(the company he ran—as a toxic sewer of paper)
    AIG, could not pay the counterparties, lenders.
    Those were the big fish like Citigroup, JP-Morgan, and the biggest shark, Goldman Sachs.
    So, enter, Hank Paulson(ex CEO of Goldman S, a big GOP operator), who was the Bush Secretary of the Treasury, who rigs things, despite a glaring conflict of interest to bail out AIG on its sleasy CDS paper.(so big mula could flow to Goldman S… )
    So, what is the upshot,
    Uncle Sammy is made the sucker of last resort.
    Bush Admin sucker economics.
    But, the O Admin is in the grips of this new form of sucker economics(SE), too.
    Too bad, people could not run up thier plastic credit card to the limit, take out some plastic card credit default swap insurance policy, and when a default happens, then the card is paid off, and the bill is sent to the U S Treasury Dept(and some dupe in D. C issues a bailout bill, called the American Sucker shell game of smoke and mirrors, called a Congressional Bill.
    Isn’t it wonderful, all the games played in the
    REPUBLIC OF DEBT( AKA, D. C by the Potomac.
    Meanwhile, millions are laid off from work at some companies around the Nation, and the music plays on.
    Who devised this new form of sucker economics—dare I say corporate lawyers for the Credit Swap Crap dice roller industry in conjunction with MBA’s from the Ivy League spread sheet clubs: QUANTS. Why Larry Sommers, the ex head of Harvard, was yapping how dumb woman are at math, as he now is the new big E-Con guy for the O Admin, and the head of SE—
    sucker econmics programs in D. C.
    Never mind, that millions of people are hooked on paying usury rates on plastic, SE–sucker economics depends on making most people in America suckers, so debt can be placed on thier backs, and that of their kids, and grand kids, by the D. C Harvard elite, and the Ivy lawyer Clubs.
    Larry Summers came out,(his manifesto): woman are dumb at math, he must know that poor mothers hooked on credit cards are just some group for him, and his Club to game the system, with its manipulating the levers of power.

  36. I like bankers. They have given America someone to hate a deride more than lawyers. You can’t buy that kind of stuff.

  37. Yes, AIG lawyers were strapped to the bonsus gurney, and injected with millions in bonsus, hard cash,
    and we must assume they are innocent, because their is such a protection service by the white collar bar, marching in bootstep with the political class, and their mouth pieces.
    Just more lawyers putting up more shields for the Bar club cliques to rape the nation.

  38. Suspicious Patriot

    What I find interesting about the whole crisis is, that you never hear the names Rothschild or Rockefeller.

    In furtherance of that, you certainly never hear any discussion of the Not-Federal Reserve, how it came into existence and whether or not it or the income tax laws, which support the Private-for-profit, Has-no-reserve bank, are even legal.

    I find it all very interesting that no one in the media discusses this private-for-profit, unratified, institution and the fact that we don’t know who owns “the bank”, who it’s directors and stock holders are, how much money they make every year etc.

    To the best of my knowledge, there has been no audit of this private-for-profit institution’s books. We quite literally are in debt to a private institution, our lender, and we know nothing about the people from whom we are borrowing the money.

    Why? What are they so ashamed of that they and our media, which, you just know they, the “bank” own, don’t want to talk about or have discussed?

    On the face of it, one begins to draw the conclusion that it is all part of a fixed game; one in which “the people” are being had, by the dealer and the grifters who help him run the scam.

    Jefferson and Lincoln warned us of these banksters; the proof truly does seem to be self-evident.

    If we end up in a depression. If we lose the nation, our sovereignty, the constitution…it will not be by accident; it will have been by design.

    This is not about bonuses…this is not about bail outs…this is about whether or not this was a criminal attack – a financial 911!

    The evidence, the paper trail, all points very directly to this being an “inside job”; the purpose of which, obviously, is to destroy America as a nation.

    If this is the case, as Eliot Spitzer seems to have suggested in his WP Op-Ed piece of Feb. 14 08…Predatory Lender’s Partners in Crime…the question should be, not will the stimulus package work, or what happened to the TARP money, but rather – Who To Arrest and Who’s Property and Assets we should be seizing.

    The owners of this private bank, the fed, the owners of these mortgage house, hedge funds…they knew what they were doing and now it’s time to pay!

    End the Fed!

    Arrest the banksters.

    Restore the Constitution.

    Return to the Gold Standard.

    Print our own money – again.

    The Economic Collapse Was an Inside Job!

  39. You want to get deep into this, S. P.
    But, Louis did:

    He gets into the Federal Reserve Act, and 1913, etc.
    when ever Louis speaks, he is blasted as being an anti-S.(like he has no rights to speak out, as an American).
    Now, many don’t object to your concerns.
    Look, 1913, was right before World War I.
    Woodrow Wilson was a sell out, as Louis points out. See the U- tube on Louis.
    My father was drafted into World War One(I), yes inscripted, and the blood of his American brothers gives us, a right to point this out.
    So, why is it when Louis speaks out, it so uspets the Banker Clubs.
    And, by the way, I am not freighten, as an anglo.
    Louis speaks out.
    See the U-tube.
    Is history repeating itself,
    it is indeed curious how past currents, are playing with your—Americans sons, and daughters— life.

  40. U.S.A…….of The Bankers, By the Bankers and For the Bankers.

    http://www.prisonplanet.com/two-faced-geithner-assures-cfr-puppet-masters-hes-open-to-global-currency.html

    http://dailybail.com/home/nobel-laureate-dr-joseph-stiglitz-says-the-geithner-plan-amo.html

    http://www.prisonplanet.com/geithner-readies-latest-bankster-debt-slavery-plan.html

    I love the smell of corporate fascism in the morning………….time to get out the KY, grab your ankles and hold on tight.

    http://www.rollingstone.com/politics/story/26793903/the_big_takeover/1

    I wonder if they will spread their pandemic with vaccines or chem trails……I am thinking vaccines as that way the Global Elite don’t have to worry about drift and their loved ones getting it. Baxter thought they could get away with releasing this in eastern Europe earlier this month and got caught red-handed trying to distribute weapon grade Bird Flu.

    http://www.prisonplanet.com/accidental-contamination-of-vaccine-with-live-avian-flu-virus-virtually-impossible.html

    http://www.naturalnews.com/025760.html

    http://www.globalresearch.ca/index.php?context=viewArticle&code=ENG20080814&articleId=9833

    The Nazi’s running this country are ready to impliment their world population reduction program. They are already getting the mass graves ready and preparing local officials:

    http://www.prisonplanet.com/military-industrial-complex-prepares-mass-graves-for-us-citizens.html

    http://www.dailynewscaster.com/2009/02/11/inside-source-reveals-fema-dhs-prepairing-for-mass-graves-and-martial-law-near-chicago/

    DON’T TAKE THEIR VACCINES; DON’T GO TO THEIR FEMA CAMPS, RESIST TRYANNY!!!!

    LIVE FREE OR DIE!!!!!

  41. Why the bankers just need a penalty.

  42. America has an obsession with big bang, shock and awe, Star-Buck gadgets, MX Missiles.
    Not that Dick Cheney would be the moving high political honcho to sitck the MX Missile in silos in Wyo, wasting vast billions, so his wife could get on the board of the big Buck DOD Contractor, but doing insanely expensive things is almost a political porky fad in Wyoming.
    The MX was not even manafactured in WYO, some case of rotten pork, to advacne Cheney’s Party status in CA.
    Gerry got into this in some of his great posts:

    Please take a look at the
    following from one who worked in the health care field:
    http://www.nytimes.com/2009/08/17/opinion/17dooling.html?_r=1&bl&ex=1250654400&en=896e8475da33a334&ei=5087

    And, look, Dick Cheney has had a medical clinic following him around covering hs every tick, since around his mid 30′s.
    He has consumed vast millions in medical care(on your dime, the GOV)
    Yet, he would not give the time of day to dying kids of mothers on minumin wages.
    It is called misallocation of resources.
    And, it is a growing problem in America, and it is only getting worst as the so called health care debate rages, as Palin, and Limbaugh, and GOP Senators are playing games—with your life, and that of your family.

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