Banksters Lie — And Nobody Goes To Prison

No, really?

The partial transcripts, published in the Irish Independent newspaper, appeared to show the bank’s then head of capital markets, John Bowe, admitting that Anglo had deliberately hoodwinked the government over the size of the bailout required.

Speaking to Peter Fitzgerald, Anglo’s former head of retail banking, Mr Bowe appears to describe how the bank cynically lured the government into a €7bn rescue in full knowledge that the sum would be nowhere near enough to save the lender. The thinking, he suggested, was that once Dublin had been “pulled in”, it would have no choice but to keep picking up the tab.

Ah, the old “in for a penny” trick — first we get you “invested” in the fraud, then we tell you that unless you back the entire thing and swallow that you’re going to find your money was lost.

Oh, and the amount?  More than four times the amount originally claimed.

There’s a difference between being wrong and being intentionally deceptive so as to screw people — in this case, screw all the people of a given nation by effectively scamming the government.

The problem we, along with Ireland and the rest of the world have, in that this sort of behavior is supposed to lead to indictments and prosecution, not bonuses and stock options.  But it doesn’t; the banks have gone from lending capital provided by investors and shareholders to being able to force taxpayers to fund anything they wish when their bets turn out badly, keeping the profits and shoving the losses up the butt of the common citizen.

This is not just fascism at its worst as it also destroys the tax base and ultimately your economy’s ability to grow.  As the people’s purchasing power is trashed via this sort of tactic they lose the ability to get ahead and all that remains is borrowing tomorrow’s earnings for today’s wants and needs.  Eventually that collapses as well amid the demands for lower and lower “capital” (really credit) cost to maintain the ponzi scheme.

It is this end-point we are now facing on a global basis, with Europe in unremitting recession and the United States right behind it, unable to post up positive economic growth.  The reason for this is simple — innovation has been destroyed, leaving ever-larger percentages of the population able only to go on the dole in some form or fashion as the return of savings and investment is reduced to zero.

Now let’s step back a bit — given this history do you believe that the banks are solvent now and that their derivative positions, along with the rest of their book, is properly valued?

Neither do I.

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4closureFraud.org

Comments
3 Responses to “Banksters Lie — And Nobody Goes To Prison”
  1. Rob Harrington says:

    3rd annual Independence Day Reminder of “Lawful” Property Confiscation in America

    - Independence Day?

    Posted by Rob Harrington July 4, 2010 at 7:00am

    July 4th, 2010 —

    Today, I will remember my father who passed away so recently. He was a retired officer of the United States Air Force. A fervent defender of the Constitution and of fact and law, and an avid student of History, this highly decorated, honest man devoted his entire life to preserving our noble freedoms.

    Last Memorial day in Washington D.C., as my mother and I visited Arlington National Cemetary where he is to be buried with full military honors, 100,000′s of Vietnam veterans were also visting D.C. for “Rolling Thunder” to also pay their respects to fallen brothers and sisters of the Vietnam War. This was the same War my father earned a Bronze Star among many other decorations for valor and dedication while risking his own personal safety and life.

    It was that Sunday I picked out a book in his vast historical library to begin a read for the long, sad trip home back to Florida. Florida is where I have been fighting fraud and for property rights for several long, frustrating years. The book I chose was written about the Vietnam War entitled “The War of the Innocents,” by Charles Bracelen Flood. Published in 1970, Mr Flood foresaw the main reason WHY the South Vietnamese and the U.S. would EVENTUALLY LOSE the war against the Communist Viet Cong. The ex-Army, Harvard graduate keenly observed that the poor Vietnamese peasant farmers were CONSTANTLY having their PROPERTIES SEIZED ILLEGALLY BY A CORRUPT GOVERNMENT AND THEIR CORRUPT, WEALTHY BUSINESS PARTNERS.

    The constant harrassment, removal, and dislocation of the poor, peasant farmers and their families contributed greatly to the lack of support of their corrupt Saigon Government, and indeed the lack of responsibility of its own soldiers and citizens to fight effectively against the Communists.

    In 2010, even an 8 year old being removed from their home due to a questionable foreclosure could draw the same conclusion regarding a corrupt system that aids and abets illegal and fraudulent harrassment, removal and dislocation of too many families who’s unalienable rights are being denied. Today, I will remember the millions of Americans who were defrauded by the Banks and are now being removed from their homes by the very governments who were supposed to protect them. Their protections are DENIED almost daily by the very consumer laws that are NOT being enforced nor upheld.

    IF FACT AND LAW ARE NOT BEING UPHELD IN THE COUNTRY WHO HAS SHED THE MOST BLOOD FIGHTING COMMUNISM AND FASCISM IN THE HISTORY OF MANKIND, WHAT DOES THAT REVEAL ABOUT THE NATURE OF THOSE WHO SWEAR A HOLY OATH TO DEFEND AND PRESERVE THE CONSTITUTION OF THE UNITED STATES OF AMERICA AND OTHER LAWS– AND DO NOT?

    Tomorrow, I begin researching “Fraud on the Courts” on forged complaints and so-called “supporting” documents made by so-called “officers of the court” in yet another legal battle on a case already dismissed once before.

    Today, on the morning of the 4th of July, I will miss my father terribly. Today, I weep in utter despair as I write this message to whoever cares to read it. I sincerely question that his whole life was dedicated to being deceived by a collosal lie?

    On July 4th, 2010, this is NOT a happy day for me. Is this really Independence Day in foreclosureland?

    -Rob Harrington

    Co-Founder / National WAMU Homeowners Support Group

    crharrington@cox.net

  2. Sue Em says:

    Glad to read about it here. The story is huge in Europe (especially Germany). People are outraged at the tapes that were released where the banksters chuckle and laugh about being bailed out and making up number by pulling them out of their arse. Even Chancellor Merkel found them despicable. But even there – no one in jail.

  3. J. Alonzo says:

    Americans or shall I The Sheeple have already gotten use to this way of justice. Nothing happens to the Banksters. So whats new? We all already know this. Just like foreclosure judges
    all work for the banks with the exception of a few.

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