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Posts Archive

August, 2017

Not the briar patch, Brer Trump!

March, 2017

A Serious Case of the DTs

January, 2017

The American Yeltsin
Sunlight Through Troubled Times
Beyond Zealots and Cold-War Warriors

December, 2016

A Vandal at the Gates of Rome

October, 2016

Are you conscious?

September, 2016

Brave New World?

August, 2016

Stop, for a moment.

July, 2016

Rupert's Coup

March, 2016

Between a Shill and a Hard Case

July, 2015

Swimming in a sea of sugar

June, 2015

Information Rich, Attention Poor
Nerds need to get out more ...

March, 2015

There is a homunculus at the end of the garden path

October, 2014

Determination, not dreams
Welcome Home
Addicted to GDP
Irony?Karma? - take your pick

August, 2014

History? Whose story?
Marketing Ebola

July, 2014

As above, so below

December, 2013

A time for tolerance

November, 2013

Thinking out of the xBox
The old ones are the best ones ...
Welcome to the Gulag

October, 2013

A timely response to spying

September, 2013

Obedience and the Machine
Ban the bible?
Fracticide - don't do it.

July, 2013

Serfing, USUK

June, 2013

Deafened by gossip

May, 2013

Who needs words...?

April, 2013

Why would they stop?
It must be true

March, 2013

Beyond belief

February, 2013

RBS: doing Fine, not Time
Pillars tumbling down
Trouble with models
A matter of perspective

January, 2013

Royal Promo
Boiling the Lance
Boson Brains Rule

November, 2012

Burning symbols

October, 2012

Charles and Jimmy's little secret
Beach bums and Magi
A Reality Check
Happy Birthday

August, 2012

A journey through riotous times

July, 2012

Caring for life
Not everyone for Tennis?
A banker lie? Unthinkable!

June, 2012

A cynical ploy
Collateral damage for The United States of Europe
Will you walk into my parlour?
Beams and motes
From one Jubilee to another

May, 2012

Perturbations
A crazy idea
The course of time
Sorry, Harry

April, 2012

Cracks in the Rear-View Mirror
A keeper of sheeple
Principled Policing
Say goodbye to Betty
Lessons learned
Causality and good news
Manufactured irrelevance
Corporate responsibility

March, 2012

Poppycock - without question
Who's pushing your buttons?
Investigate the Blair-Murdoch Conspiracy

February, 2012

In Praise of The Seven Liberal Arts
The real story
When giving is taking
Giving it all away

November, 2011

Poking a hornets nest
Wealth of Nations poured away
Squeaky and the Paedophile Prince
Boiling frogs
Death of an industry
Change blindness
What a world ...

October, 2011

Gifts
Pictures and words
Screeching to a halt.
Taxing noise

September, 2011

Hand over your money
Breeding psychopaths
Mr Fox, is the hen house safe?
A ludicrous Conspiracy Theory
Can you believe your eyes?
Getting eye contact
Partners in Crime

July, 2011

It was the Wettins 'wot won it'

May, 2011

Kevin
Heir apparently

April, 2011

Putting Emergencies in Context
Underground networks travelling First Class

March, 2011

Be careful what you ask for
Water - a tale of two countries
Newspeak
Here we go again ...
Wake up!!!

February, 2011

Priorities
The right stuff
Revolution! ... and yet, and yet.
Follow the money
Shh - don't tell the children
Does the MoD have a Cunning Plan?

January, 2011

Met Office caught in winter weather whitewash
Read between the lines
The new parable of Noah
Banking on People

November, 2010

Wettins don't say sorry
It's just not fair ...
Remember, remember ...

October, 2010

Kindness sees no crime
Pundits in the frame
Killer drones target the middle class
A tale of two Charlies

September, 2010

A failure to discriminate ...
Good Grief
A rent-boy's rent-boy

August, 2010

Size psycho-fancy
Baiting a Wikid Trap?

July, 2010

... at the gates of Rome
Monday musings

June, 2010

Guilty - but not charged
Psychopaths at the door

May, 2010

ConDemned to the Shock Doctor
Driven by metaphor
Guns and Banksters
Death of Old Conker

April, 2010

Bankster at bay ...
Nuke Iceland?
Smokescreen

March, 2010

It's how you say it ...
Bullying Manner
Quelle surprise!
Iceland - showing the way.

February, 2010

Small steps to a far place
Seeds of silence

January, 2010

Liar
So who needs people?
Late and censored
Freedom for life

December, 2009

Patterns
Testament
Boy-friendly!

October, 2009

Fools served by Zombies
Webs
BBC dogs that didn't bark ...

September, 2009

Taken Hostage

August, 2009

Have a good weekend ...
High Frequency Trading ...
Money money money
Fit for a politician

July, 2009

Inside clouds

June, 2009

Fond thoughts of Tony Blair ...
A good day ...
Midnight musing

May, 2009

aaah diddums
Zal may ...

April, 2009

Echos of a dark past
Sharks in the Shadows
Worlds Apart

January, 2009

Money Matters
Killing History
Magic

December, 2008

Home improvements
Get the Picture?

November, 2008

Barak - the movie

October, 2008

Won't get fooled again
Bankers, all of them!

September, 2008

And The Winner is ...
Light relief
A Financial 9/11
That's Lucky!
On this day

August, 2008

Mark My Words

July, 2008

The Management Myth
Sense Making Questions

June, 2008

Beware this Griffin
42 Day Folly
A Tortured Silence

May, 2008

A new Dawn needed
Is Justin Webb A Neo-Con?
The Puppy, the Mountain and the Fascists

April, 2008

Attention Pays

March, 2008

Fat Cats and Pork Pies
Fed up Darling?
Swearing - it's just not British!

October, 2007

TsarkoMania

Partners in Crime   September 4, 2011

In 2008 George Bush famously explained that the financial crisis came about because “Wall Street got drunk“. Today a close ally of the UK chancellor, George Osborne, has a different explanation – “Too much testosterone“.

But we don’t need to rely on politicians, lets look at the data found in a 2010 report by Professor Murdock of the Loyola University Chicago School of Law. The report shows that:

Fraudulent inducement. Banks sold sophisticated, negative-amortization loan mortgages to people who they knew could neither understand the terms nor make the repayments. 87% could not identify the cost of the loan and 30% could not identify a balloon payment. The Banks knowingly pushed so-called ‘pick and pay loans’. A tiny percentage of the recipients were opportunists – the vast majority were (and are still) victims.

Fraudulent selling. Mortgage Brokers received both higher fees and an extra kick-back from the lender when they sold sub-prime mortgages. There is clear evidence of Brokers persuading people who would qualify for a conventional loan to take a sub-prime instead. In Florida 10,000 convicted criminals work in the mortgage industry. Brokers have been found to falsify documentation and transactions, taking home millions.

Fraudulent derivatives. The banks took these very risky loans (which they knew would fail) and packaged them up as triple AAA rated derivatives. They knew they were junk, but they lied to their clients. They gathered bad loans together with the occasional good one and created an exponential Ponzi scheme of Collateralised Debt Obligations and Credit Default Swaps.

Fraudulent ratings. The banks induced the various Rating Agencies to classify all these very risky derivatives as rock solid, gold-plated triple-AAA rated investments. The rating agencies did it because a) they were paid to by the banks and b) they received an on-going fee for the life of the derivative.

Fraudulent foreclosure. When the inevitable housing collapse arrived the Banks fraudulently foreclosed on millions of people, using fraudulent techniques like ‘Robo-Signing‘.

Fraudulent banks. They are not really banks, they are really criminal sydicates who use the banking facade to cover their illegal activities. For example, one of the biggest US banks, Wachovia, was recently found to have laundered billions of dollars in the drugs trade.

The criminal racketeering and fraud perpetuated by the financial industry is clear – there is massive, incontrovertible evidence for anyone who cares to look. Just spend a few minutes on the internet and you will find the evidence from all kinds of reputable sources. Why do we (and our politicians) not look?

According to Catherine Austin Fitts, the Assistant Secretary of Housing in the Bush Senior administration, the answer is simple – physical violence. Is it just that or is there more?

The references above relate to the USA, but are true of financial services around the globe – driven by fear and greed. These criminal activities are not restrained to banks but are to be found in all large corporations. Our economies are built on fraud and other criminality.

In the UK the Financial Service sector accounts for 10% of GDP, in the US in 2010 financial companies accounted for 28.7% of all corporate profits. Without fraud our economies would collapse.

Maybe that is why we do not look. We live in a criminal dependency, afraid to look too closely at what is really going on – in a hole that we do not know how to get out of.

By our silence we are partners in crime.


Posted by Nicholas Moore    2:45:13 PM
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