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Wrath of McGrath Blog General Hey Greece! Beware Goldman Sachs Bearing Gifts!
Wrath of McGrath Blog General Hey Greece! Beware Goldman Sachs Bearing Gifts!
Hey Greece! Beware Goldman Sachs Bearing Gifts!
Written by Jim McGrath Tuesday, 02 March 2010 14:43
Wall Street and Big Bank USA, after putting the U.S. economy into a coma, now threaten to bring down the oldest democracy in the world -- Greece. Wall Street + Big Bank USA have roared through the U.S. economy like a runaway locomotive, leaving incalculable economic damage in its wake. After saying NO to loans for the American people, YES to "mega-buck" bonuses for themselves from U.S. "bailout" funds, and "bailing out" on economic recovery for the American people, Big Bank USA set its sights overseas. It has now helped undermine Greece, the cradle of Western civilization, founder of the democratic tradition, and linchpin partner in NATO and in the Western alliance. Where does it end? Who's next? Ireland? Spain? Portugal? Italy? France? Britain? China? Russia? The possibilities are endless.
ENOUGH ALREADY!
"LESS BAIL, MORE JAIL"
WE SAY GIVE IT BACK!*
AND ARE WE NOT ALL BECOMING GREECE, WITH BANKERS' GIFTS TO RUIN US LIKE SUBPRIME VICTIMS, FOR GOLDMAN, ET. AL. PROFIT...LIKE WE PUT AWAY AL CAPONE, SO WE MUST GOLDMAN AND THEIR CONFRERES IN FINANCIAL CRIME! (READ ON...)
Well, we see how Goldman Sachs, and all these corporations, can help hide government debt for a price and make an immoral killing on it. Like a junkie and drug dealer, with the first hit free. Setting them up, by offering to hide their debts, a sure bet it would ruin Greece's financial standing, in order to short them and make a billion. For a good brief summary of this game, see The Business Insider at: http://www.businessinsider.com/goldman-sachs-shorted-greek-debt-after-it-arranged-those-shady-swaps-2010-2
Sounds like a rerun, where have we seen this picture before? RIGHT AT HOME IN OUR OWN (SUBPRIME) HOUSING MARKET, GOLDMAN SELLING TOXIC MORTGAGE SECURITIES AND SHORTING THE MARKET, KNOWING THEIR VALUE TO BE ONLY JUNK. AH, BUT IT'S ONLY HEDGING RIGHT? THERE OUGHT TO BE A LAW, IS WHAT WE HAVE BEEN SAYING FOR THE PAST FEW YEARS.
However, finance lobbyists are currently making sure that no effective legislation come out of committee, via their conduits (Shelby and the other Republicans) on the Banking Committee, luring Dodd to water down any legislation that would really protect us from the harmful financial practices that have grown up from the Reagan Revolution. SO THE BANKERS CAN CONTINUE, UNREPENTANT AND EVEN WORSE THAN BEFORE. THE STORY IS REPEATING ITSELF IN DANGEROUS, SHORT CHAPTERS UNTO THE ULTIMATE TRAGIC ENDING -- first the crisis, then propping them up, not taking effective action to break them up or rein them in, with resultant aggrandizement of ever increasing profits and bonuses, all with government help, ALL TO CONTINUE THESE AND WORSE PRACTICES FOR PROFIT, CREATING A MUCH WORSE VICIOUS AND HARMFUL CYCLE! THIS SAME SORT OF SCENARIO IS BEING PLAYED OUT OVER AND OVER EVERYWHERE....WE WILL SEE ITS REPETITION AND GROWTH ALL OVER THE GLOBE AS THE BEAST GROWS BEYOND TOO BIG TO FAIL, BECOMING TOO BIG TO DO ANYTHING ABOUT, AND ULTIMATELY, TOO BIG NOT TO UTTERLY RUIN AND DEVOUR US.
THERE MUST BE SOMETHING THAT WILL REIN THEM IN, THAT IS ILLEGAL IN THESE OR RELATED PRACTICES, AND IT IS HIGH TIME FOR ACTION, AND TO PROSECUTE THEM FOR OUR OWN SAFETY. LIKE AL CAPONE, who they couldn't pin bootlegging or other organized crime activities on, SURELY WE CAN GET GOLDMAN AND THEIR FELLOW FIDUCIARY CRIMINALS ON ANCILLARY GROUNDS OF LAW BREAKING. WHY? TO PUT A STOP TO OUR TOTAL RUIN.
IT'S NOT ILLEGAL BUT DOES THAT MAKE IT MORAL OR SAFE? OR UNDANGEROUS TO OUR FINANCIAL RUIN? LIKE GETTING SOMEONE ADDICTED TO A POWERFUL DRUG BEFORE IT BECOMES ILLEGAL. THAT IS THE NAME OF THEIR GAME, AND WE MUST OUTLAW THE DRUG AND THE DEALERS. WE MUST DEMAND AN END TO THIS TYPE OF BEHAVIOR, AND MAKE THESE FINANCIAL INSTRUMENTS OF OUR MASS DESTRUCTION ILLEGAL.
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