Crimes Against Humanity – Wall Street Thugs And Toady Politicians Proudly State That TARP Is About To Turn A Profit

Timmy and Benny will never tell you any of this.  But if they cared about the American people, democracy and/or actually were competent enough to serve our country, they would never allow this to happen.   If this crisis has crystallized one thing for me, it’s that fraud and corruption is much more rampant than I ever could have imagined.  And I can imagine a lot.   Our leaderless society has resulted in the greatest moral injustices and criminal subversion of the rule of law that  this country has ever faced.

If the inspector general of TARP states that the bailout to Wall Street is going to costs as much as a $25 trillion dollars, and this crisis is likely to cost much more than that in soft as well as hard quantifiable costs, then how is TARP about to turn a profit?  It’s quite simple.  It isn’t.  And remarks of such are complete mischaracterizations of Wall Street’s massive fraud.   TARP profitability is simply ridiculous.

We have remarked of this countless times on the blog but a job is not a job is not a job.  A company is not a company is not a company.   There are jobs which add to the wealth of society and there are jobs that rely on the wealth of society.  Banking and finance relies on the wealth of society.  These businesses consume wealth.  They do not create wealth.  This is an economic fact not a point of view or opinion.   A job is not a job is not a job.  So, all of these obscene bonuses and Wall Street schemes are nothing more than schemes meant to defraud society and steal its wealth courtesy of pliant  Washington politicians. 

The fact that TARP is about to turn a profit means exactly what?  It means our banking system has taxed society into repaying TARP.  It means that money was gained through wealth transfer with the complicity of the Federal Reserve.   The evil Satan that is Wall Street continues to pillage our society into squalor. 

Where does Wall Street’s graft take place? 

• -It takes place through Wall Street bets against our state governments, our citizens, our communities and our schools through the use of confusing and complex financial instruments and the use of these to steal from and defraud society.
• -It takes place through the call for cuts to Social Security, cuts to special needs children, cuts to heating assistance to the elderly and endless other social cuts.   Our government cannot afford to pay the tax (borrowed debt) from Wall Street banksters while still guaranteeing social services. 
• -It takes place through corrupt rigging of financial markets where financial firms take special privilege to thieve other participants with opaque schemes.
• -It takes place through the Enron-style manipulation of commodities where people around the world are subject to Wall Street extorting their taxes by manipulating prices of basic foodstuffs, industrial and energy products
• -It takes  place through bets against Greece, Iceland and other countries that drive interest rates higher so banks can then extort higher borrowing costs after creating the very funding crises by manipulating complex interest rate products.
• -It takes place through mortgage fraud and preying on people who believe banks and government should be trusted when in fact they are setting citizens up for a con game fleecing.
• -It takes place through corrupt trade agreements lining the pockets of communists, corrupt puppet states, corporations and elites who thieve people living in  slave labor conditions financed by banksters.
• -It takes place through consumer credit that is granted at low teaser rates and then once people are indebted, raising fees, rates and terms to levels the mafia would envy.
• -It takes place through government welfare and bailouts that gives the perception of safety that then takes money out of community banks trying to service our society and moves it into firms that use our money to gamble for their personal gain.  
• -It takes place through the graft of societies money to kill economic vibrancy in the criminal mergers and acquisitions activities that steals from legitimate businesses and creates oligopolies across our entire economic spectrum and enslaves our society to corporatist thugs.
• -It takes place through endless wars and bribing corrupt governments around the globe to participate in Wall Street’s neoliberal “free market” con job where we, in conjunction with global fraudsters, rip off other societies and deny countless people economic opportunity just as happens here. 
• -It takes place through government backstops and financial welfare that allows all incompetent banksters to offer subsidized below market prices that steals deposits and legitimate business from community banks trying to serve our society.
• -It takes place through sending our society’s capital outside of the country while denying our citizens access to our own democratic economic rights.

And now after Wall Street has again stolen trillions of dollars from Americans and people around the globe, they want to increase their dividends to shareholders and demanding austerity from those they stole from.   Since when did our banking system, propped up by the citizens of this country, become more worried about paying a dividend to investors than paying a dividend to our society?     

All of this graft has to be accomplished under the propaganda of economic recovery.  Above are just some of the methods Wall Street rips people and society off so that TARP supposedly shows a profit – one of the greatest lies of our time.   Adolph Hitler would be proud. 

Today’s banking system is the greatest evil in the U.S. today.  It is defendable that our banking system is the greatest enabler of fraud and corruption around the world through its reserve currency status.  And its evil is only allowed to perpetuate through others who are in fact evil, be it the communist party in China or corrupt puppet governments in other countries who embrace the exportation of our society’s capital, (capital that Wall Street neither had the creativity to produce nor the rights of ownership.  They, in fact, stole it.) or a bought and paid for corrupt political class. 

All of these frauds and more take place in financial corporations that are given special government, business, legal and social privileges of keeping our wealth in safe keeping and protecting our economy.   They have done exactly the opposite.  These are not only acts of fraud and racketeering of mobsters,  I believe these are but part of a larger picture involving High Crimes and Misdemeanors. 

Our government, both political parties, and the Federal Reserve continues an environment of fraud where the chosen few incompetent criminals who caused the greatest economic catastrophe in history, continue their theft off of the backs of the working poor, unemployed and underemployed of our society.  

The entire system is based on fraud.  Were our banking system actually serving society, Wall Street would rebuild its balance sheet and repay TARP by funding capital formation.  But that is ridiculous.  Were that taking place we would never have a crisis in the first place. 

We need a public banking system out of reach of political liars that cannot be defrauded by Wall Street sociopaths.  A banking system which has a primary goal of democratic human development.   Wall Street serves absolutely no purpose to our economy or our democracy or to our citizens.  NONE.  And nothing proves this more than the theft of billions of dollars that con men and liars now cite as a success – the repayment of  TARP.