I have long suspected that the Major bank along with Wall St. in this country were running a rigged game and with their ability to hide what they were truly doing by bribing politicians and inventing clever financial schemes that take a classroom full of Harvard MBA's and numerous supercomputers months to figure out, I guess thought that they would never be exposed.
A recent federal court case USA vs Carollo ruined their party. Matt Taibbi at Rolling Stone has an excellent article on this case and I strongly suggest that you read what happened and learn how the Big Banks have been screwing us for some time. This is not a Left vs Right case both parties are implicit in it and it really needs to be addressed. Here is the link.
This is just the tip of the iceberg. Most of us understand that Wall St is crooked and that they control our Fed Politicians. But, the apathy runs deep with American voters who simply don't want to be bothered with these type of distractions. Just look at the two candidates running for President. The people will get the government they deserve!
I would like to invest some of my money in the Stock Market, thought about buying some stock in Apache last week. But, I don't trust the people working on Wall St to be honest and know that it is manipulated and one can not beat the insider trading unless one is an insider.
But USA v. Carollo marks the first time we actually got incontrovertible evidence that Wall Street has moved into this cartel-type brand of criminality. It also offered a disgusting glimpse into the enabling and grossly cynical role played by politicians, who took Super Bowl tickets and bribe-stuffed envelopes to look the other way while gangsters raided the public kitty. And though the punishments that were ultimately handed down in the trial – minor convictions of three bit players – felt deeply unsatisfying, it was still a watershed moment in the ongoing story of America's gradual awakening to the realities of financial corruption.
Well said. Unfortunately your right when you said it was the tip of the iceberg. Our politicians and the media are engaged in cover up that is really not a cover-up because it is in plain site. The politicians refuse to answer truthfully when asked about these tough questions and the media cowardly defers to them anytime the pols complain they weren't treated fairly in an interview. Were stepping over dollars to get to pennies, time to address the real issues.
"Get busted for welfare fraud even once in America, and good luck getting so much as a food stamp ever again. Get caught rigging interest rates in 50 states, and the government goes right on handing you billions of dollars in public contracts." Matt Taibbi
"Unlike the Mafia, though, they were smart enough to do their dirt without anyone noticing for a very long time, which is what defense counsel in this case were talking about when they argued that towns and cities "were not harmed" by the rigged bids. No harm, to them, means no visible harm, i.e., that what taxpayers didn't know couldn't hurt them. This is logical thinking, to the sociopath – like saying it's not infidelity if your wife never finds out. But we did find out, and the scale of betrayal unveiled in Carollo was epic. It was like finding out your husband didn't just cheat, but had a frequent-flier account with every brothel in North America for the past 10 years. At least now we know how bad it was." Matt Taibbi
06-25-2012, 11:06 PM
heard today 15 demo and 13 repubs. change their portfolios 166 times in 3 days..so what does that tell ya..