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Why the Financial Industry is the Ultimate Liar’s Club

41 | By Shah Gilani

[Editor’s Note: We recently had Shah in our office to talk about the crisis in the Eurozone. His insight on the machinations of the central banks is as entertaining as it is enlightening. In Shah’s usual style, he reveals the Ponzi scheme they’ve got going. We’ll have this interview to you this afternoon. It’s worth looking for.]

Here’s a little bit of advice you can use to make money.

There’s big money in lying.

I’ll show you how it has worked for people like Beth Jacobson, who fell off the Wells Fargo “stagecoach from hell” after making millions pushing subprime mortgages there. And for Jamie Dimon, who I’d love to see get kicked off the JPMorgan gravy train, where he’s been lying for years, while making himself hundreds of millions, to ING Bank, who lied about doing business with Iran and Cuba to make millions in fees.

Here’s the thing.

When you know how the Matrix works, you can make money on the lies building up, and then make money on them being exposed for what they are.

First, let’s get back to our liars, because there’s a lot of humor in seeing them get caught in their lies…

One Woman’s Liar Loans

So, I’m reading this piece this morning in the Washington Post about Beth Jacobson. As I said, she used to work for Wells Fargo, peddling a lot of subprime mortgages, and now she’s calling them out on their “stagecoach from Hell” practices, ripping people off and everything.

And I’m flat-out laughing so hard that I actually start choking. I’m choking on the crap this woman is spewing, and on this garbage article that is so inane that it’s embarrassing as a piece of journalism, or whatever it’s supposed to be.

It makes me realize that, while I may be an annoying, in-your-face, no-holds-barred hammer at times, at least I take a stance for the truth.

In any case, Ms. Jacobson is now something of a whistleblower (though not really from the “inside” anymore, because she’s been out of Wells since 2007), on account of her claiming that the bank’s practice of targeting certain minorities and folks stupid enough to believe they were making millions – which they weren’t (and good thing they didn’t have to prove it by being talked into some high-interest no-document loans, against their better judgment) – and getting liar loans to buy houses they shouldn’t have dreamt about even at twice their actual incomes.

But, before she realized that Wells Fargo was a bad egg, harming all those innocents, this woman was the bank’s No. 1 salesperson (in the whole country, folks). She was selling, you guessed it, subprime mortgages. She was making a lot of money selling up to $50 million worth of liar loans and other toxic crap to her flock of innocents, year in and year out.

Then, strictly by pure chance, or God’s will – I’m never sure which is which sometimes – in 2007, right around the time that the subprime market hits a brick wall, poor little rich girl Beth is outed, I mean ousted, from Wells. Something to do with production; who knows for sure?

Now, though, the lies that she is foisting on the public are revolting.

She made millions soaking innocent homebuyers by placing them in high-fee (it’s all about the fees, folks; it’s always about the “what’s the best fee for me” deal, screw the Muppets) mortgages. As strange as this might sound, these are the same high-interest loans that these dumb (I mean innocent) homebuyers got saddled with. (You see, it’s the high interest rates that account for the high fees the salespeople are paid, or maybe it’s the other way around, either way… you get that, right?)

Then she decided to blow the whistle. Why? Oh, because her new job (she’s a self-employed, do-gooder, pay for services, for profit, you-know-what) is all about helping the same poor people she set up like bowling pins get their lives and foreclosed homes out of the gutter, for a fee… did I say that?

Now, let’s say you’re really good at lying. Then you get to run the liar’s lair.

That honor goes to Jamie Dimon.

The Leader of the Liar’s Club

Yesterday he lied through his teeth to the idiots and some strumpets whose campaigns he and his bank finance; yeah I’m talking about the liars in Congress. But this is not about them…

It’s about how Jamie lied about not knowing what risks the CIO was taking (he knew two years ago). He lied about their losses being a “tempest in a teapot.” And he is lying to the point that I’m going to vomit, when he says they were hedging and not prop trading.

All I’ll say about Jamie is that I used to respect him. Now I see him for what I had always hoped he was above being and doing.

If he is going to claw back some money from the JPM executives responsible for the lying and losses, he has to give back all his compensation, because he’s the leading liar at the liar’s club.

My point is this: The financial services industry starts on the ground floor, with individual liars lying for larger and larger fees for themselves. Then it moves up the chain to the lying executives, who overlook the liars below them to reap the large fees all their collective lies affords them. And it keeps going, all the way to the institutions themselves. (Not that they are not run by humans, they are, although sometimes it seems that the institutions themselves are built on concrete pillars lying in quicksand.)

And that’s makes the industry what it is… the ultimate liar’s club.

And as far as banks as institutions go, in 2009, Credit Suisse Group AG paid $536 million on account of a particular set of lies; in 2010, Barclays PLC paid $298 million on account of the same lies, Lloyds Banking Group PLC paid $350 million, and the winner and record holder of the highest “fine” for these same lies, with a total of $619 million, was just announced to be ING Bank, a unit of ING Groep NV.

What lies you ask? How about, in the case of ING Bank, “stripping” out transaction information that would have revealed that the bank was dealing with Iran and Cuba and channeling their money transfers through Manhattan channels (which most have to go through often enough). That is illegal, as in completely illegal, not on a regulatory level, but on a federal, trading-with-the-enemy level.

All of them did it anyway, for the fees, you know. All of them got caught, you know.
And all of them got away without being criminally prosecuted on account of them being offered “deferred prosecution agreements” also known as the liars’ labyrinth.

So, the moral of the story is… There’s money to be made lying, and there’s money to be made when the lies are laid bare. And you can have it both ways. That’s what this Matrix thing you’ve been seeing is about, and that’s what my Capital Wave Forecast folks have been doing for more than two years now.

I’m not lying.

Shah

41 Responses to Why the Financial Industry is the Ultimate Liar’s Club

  1. Dayton says:

    At a certain point in your life you fold your cards and back away from the table. For younger folks, we can only holp there’s a peaceful revolution that changes things.

    • Cindy says:

      Why have “we the people” (for whom the constitution was written) accepted our fate of all these financial tycoons have done. Are we that much in apathy that we say “nothing can be done!” Should we leave it to the responsibility of Congress? If you think about it congress is no better than the people they represent. If we don’t hold them accountable through the power of our numbers, we only have ourselves to blame. Assigning blame to them reduces our power. We have to take back Congress and America. Occupy should return with clear goals and purposes! In the meantime, what are we going to do. Just don’t do NOTHING, that is always the wrong answer. Write Washington D.C. write your state representatives, hold them accountable. We also must restore morals to Washington, until that happens we don’t have a prayer.

  2. Tex says:

    “Peaceful” revolutions accomplish nothing. The only things in life with any value are those worth fighting for. All else is worthless pablum.

    • Kevin Donnelly says:

      Financial Institutions are predators, licensed to lie, steal and cheat and corrupt all democracies. think otherwise at your peril!

  3. Roger Charlesworth says:

    Thank God for peeps like you. I have no direct involvement with the *rap you discuss, but it is good to know that there are those prepared to lay it all bare. What nags me however, is that the level of corruption is so deep, or high, whichever way you look at it, that there appears to be no-one of any clout that can amputate.Would Ron Paul be such a candidate?

  4. James Eberhardt says:

    Now it is becoming easier to understand why more and more Americans are shedding their US citizenship and escaping to (hopefully) less corrupt climes. Unfortunately, the everyday taxpaying citizen has no clue as to how and why this “glorious larceny” continues with “the most transparent Administration” in the White House.

    • Nightrider says:

      ….but at the risk of paying an exit tax and most likely a capital gains tax on profits over the next ten years (while being a citizen/resident of another country). That’s a FACTA for you!

    • sandra says:

      Good luck with blaming this administration when “the truth” is this was All DONE on GW”S watch with Greenspun’s help & the scrapping of the controls on these hyenas with the Glass-Stegall act. PLEASE be honest & put the blame where it belongs. This didn’t happen overnight. It was carefully orchestrated by all the participants. I just laugh when they get up on the witness stand & claim “they didn’t know.” It is truly amazing the level of pure, unadultered theivery that has been going on for years. I knew things were going rotten when my daughter called from Calif telling me about the rolling blackouts Calif was suffering through. I told her at the time that there was no shortage of supply & everyone there better start screaming at their politicians. Then I walked into the office & someone asked if I had bought Enron stock!! I just shook my head & told them if they had bought it, they’d better sell it fast it all was a sham concocked by the scumbags. The looks on their faces was priceless, but they thanked me later for being “right on.” And no I didn’t buy Facebook either!

      • Tom Carey says:

        It is obvious with the lack of prosecution of the thieves this administration as well as the last are complicit in the theft. Why anyone at this juncture would hope to affix blame when it is obvious Dems and Repubs are all on the same ship sailing in the same direction. We the fools ooops, the voters are deciding which side to stand on based on almost irrelevant social issues that continue to divide us when we should eliminate everyone of the politicians on both sides of the aisle for all this theft. A perfect example of the foolishness of affixing blame instead of prosecuting and jailing is the President who decided to rescind Glass Steagall. Our buddy Clinton, and that was the first domino set in place for the greed to run rampant.

  5. Palmudder says:

    Please talk more about the value of a Glass-Stegall type ‘separation of powers’, between banking, securities, mortgages (and insurance). Yesterday Jamie talked about how compartmentalized the functions are at JPM, regardless of it’s gargantuan appetitie for generating shareholder value. Not buying it… never did! But what is your view of the most efficient, and least corruptible, way to structure those actitivies?

    • Tom Carey says:

      Please excuse the simplistic answer I am about to propose. Banks for 70 years lobbied Presidents and congress for the opportunity to expand their business. Rescinding the Glass Steagall Act under Clinton gave banks the pathway to sell any financial instrument on the planet. Before they were limited to passbooks CDs and mortgages and some types of highly collateralized commercial loans. Banks have been notorious for being cheap on labor and loved the idea other folks could and would write additional mortgage business and then they could participate in the selling of the bundled little packages. In 6 years the amount of investment capital almost doubled on the world stage with the emergence of India, China and South America. They had money to invest and Wall Street showed them about the great investments of mortgages which had always been a great investment. There were other factors that have contributed to this meltdown but I think most people will tell you these 2 factors caused the opening of the proverbial Pandoras Box. To answer your question if we really wanted to tie up the banks we should put them under the same umbrella as before with Glass Steagall. Passbooks CDs and Mortgages and let them stay out of the marketplace. If you think back, banks did ok with this very simple business model. Hope this helps

  6. Dennis Bilyeu says:

    I am about to move all my banking activities from Chase to a small regional bank (Woodforest national). Are the smaller banks as bad?

    • Nightrider says:

      No, they are not necessarily bad, but make sure they are soundly and conservatively managed, none of this derivative and securitization business or
      high debt/loans to equity/deposit ratio and you will be okay Denny.

      • gerry goldman says:

        dennis, more. stop doing ANY business w/ big banks. they all lie and cheat and care nothing about small-medium accounts. get a credi card w/ someone other than the biggies. watch out for nickle and dimeing. they should not have been bailed WITHOUT STRINGS. see how grateful to the public they are?

    • gerry goldman says:

      good move dennis. i could have been with some of the big guys with what i used to have. for 10 years (after retirement) i’ve been with libertyville bank (wintrust) (chi suburbs) and totally satisfied with their renegotiated mortgages ( none of the big banks would touch them). look into their past and their customers for how they treat you. if you have a relationshp they get to know and trust you. they’re good people for the small-medium account.

  7. Bill C. says:

    Great article. I have been suspicious of the big bankers for years. That is why I only deal with my neighborhood community bank. I know some people think the corruption is so vast that it is useless to try to fight it. I say it is never useless to fight for the truth. The people have the ultimate weapon in the power of the vote if they would only use it and not buy into all the fear mongering by the politicians. There is a movement going on, all be it slow, but change for the better is coming. People are awakening to the reality of the banker’s shadow government control. Truth will win out over lies in the end. We must keep up the good fight, if for nothing more than leaving something good for our children to believe in and build on.

    • Tom Carey says:

      All very good thoughts, especially voting for candidates with a voting record you are comfortable with and if I might encourage you to write your politicians and I do mean write.

      This is the Formula Politicians Use.

      Email= 2 votes,
      Fax=2.5 to 3 votes
      Phone call 2.5 to 3 votes,
      Telegram= 4 votes
      A hand written letter even on a post card is worth 10 VOTES!!!!.
      I know, because I use to work in politics and it is one of their many secrets for keeping their finger on the pulse of the electorate whom they must respect a little if they want to stay in office.
      On a personal note vote out everyone who voted for NDAA.

  8. jrj90620 says:

    Maybe if Americans weren’t so entitled and actually learned something,before signing contracts,they wouldn’t be in trouble.Not to mention everyone getting greedy and on the housing mania,believing housing could never decline.The reason you have dishonest people in banking and in govt is because there are so many dishonest people in the populace.Everyone blaming everyone else isn’t the answer to our problems.

    • sandra says:

      I was was in Real Estate brokerage for years. I could count on one hand the number of people who actually read the contracts b4 signing them. One who did, & kept the attorneys waiting, was the district director of the IRS for No Fla!!! My stepson & wife signed a purchase contract & didn’t KNOW it had a 5 year ballon payment! My smarter son runs EVERY contract through me b4 signing. If it has too much garbage in it (lawyerese) I have him take it to a real estate attorney for clarification.

  9. Ben Zadegan says:

    You want to know the greatest rip-off of all? Do you, really?

    Look at any of your check books, any check book issued by a bank based within the 50 US states.

    You need to use a 15x magnifying glass to see that “the line” you’re signing your name on is not really a line.

    Use a 15x magnifying glass and you’ll find out that instead of a solid line, it is a fine print. It reads the phrase “authorized signature” and it repeats some 33 times, to the best I was able to count.

    That means every check everyone signs gets leveraged 33 times in the “market”, or as many times as the word “authorized signature” is repeated. Now, Shah was working in the market for so many long years. He ought to be able to tell us more about this. Right, Shah?

    Now, that’s not some run-of-the-mill banker doing this. It started ABOUT 100 YEARS AGO, when a particular piece of legislation was signed on 23rd of December, when most congressmen were leaving for their districts. History says that some had their luggage with them or waiting for them outside the doors of the Congress and, hence, did not even read the piece of legislature they were signing in full. Some signed because other colleagues told them it was an OK piece. So, not that I approve of what they did or continue doing, but Beth Jacobsen or Jamie Dimon are not the real culprit. They are just doing their portion within a fraudulent system established some 100 years ago.

    Shah, why don’t you enlighten us all? You said you “take an stand for the truth.” Well? Have you told your “Capital Wave Forecast folks”, subscribers and readers how they get screwed every time they sign a check? Have you? With your kind of experience, there’s no way you don’t know what I’m talking about. Question is, have you informed your fellow citizens? If no, why not?

    Finally, does the timing of getting a crucial piece of legislature ring the bell? December 23rd. Check out the date the ObamaCare was passed in Congress. They are absolutely correct when they say “history repeats itself.” However, the damage which the ObamaCare will do is nowhere near the damage done to US tax payer over the past 100 years as a result of the 1913 legislation which started this whole fraudulent “fractional reserve banking system.” As a matter of fact, the Supreme Court might repeal portions of the ObamaCare later this month! I sure hope so.

    • ROBERT says:

      I only count 13 times repeat with a 60 power microscope, but I don’t think it means anything except what it says.

      • Ben Zadegan says:

        Robert,

        A check is a financial instrument. If it is signed once, it is good for leveraging only once. Each check gets leveraged as many times as it has been signed. On the back, there’s another “line” and the fine print on that reads “ORIGINAL DOCUMENT”.

        As such, each check we write gets leveraged (borrowed against) as many times as the phrases “AUTHORIZED SIGNATURE” and “ORIGINAL DOCUMENT” are repeated. One signature by us is enough to activate the process.

        If you’re familiar with the concept of “fractional reserve banking system”, this whole discussion will make much more sense.

        Funny thing is, this is NOT a conspiracy or anything. If you get a chance, Google “Modern Money Mechanics” and you’ll find out that the literature is out there for the truth seeker. They just never bothered to inform us nor to seek our consent on using our signature so many times to make money by borrowing against it. Guess this is done on a “need to know basis”, as most other key facts in our society and the world at large.

        This signature thing is the big one. There are other “smaller’ things bank do without our consent and knowledge. Ask Shah to explain to us what “re-hypothecation” is and how banks use our deposits to make much more for themselves.

        In the process, under the watchful eyes of banking regulators (FDIC, SEC, CFTC, etc.) bankers, led by the Fed, have amassed the debt mountain taxpayers are liable for … http://www.brillig.org/debt_clock.

        How about close to the $1000 trillion outstanding debt within the global credit derivatives market? How did banks succeed in doing that? With legislation passed by the Congress. This mess (the derivatives market) was created in the US. How did Citibank turn in to Citigroup, one the world’s most powerful banks? How did the US Treasury who pushed this legislature ended up becoming the Citibank’s CEO, after Citibank turned in to a international banking giant?

        I recommend two movies: “Too Big to Fail” and “Margin Call.” Things started to make much more sense to me after I watched these.

        The list goes on and on and on. Shah is aware of all this and much more. I’ve been following his articles as much as I find time. I just don’t know why he does not inform his readers as much as he can.

  10. Gene Warneke says:

    Let’s include JP Morgan’s Blythe Masters to also be a master liar. Just before the Iksil story broke about his manipulation gone bad (massive position in theCDX.NA.IG.9), she appeared on CNBC to refute allegations that JP Morgan traders ever engaged in deliberatemanipulation of markets.

    I think it’s time for investors to also gang up on JP Morgan’s utter dominance of the paper silvermarket and their periodic engineered silver crashes with the cooperation of MF Global, the US Federal Reserve, the SEC and the CFTC. My guess is that JP Morgan consistently holds more than 90% of the total net commercial short position in the silver futures market. Iksil has provided for us the blueprint to also collapse JP Morgan’s alleged illegal and immoral massive short position in the silver futures market. Just take the opposite side of JP Morgan’s trade, but do it on a scale massive enough to take them out forever.

  11. Philip Evan Hope says:

    Is anyone out there familiar with why the Roman Republic finally dissolved into civil war, dictatorship, and ultimate collapse….Greed, Corruption, and Abuse of power…. by public officials and the supremely wealthy. Sound familiar. Like the Titanic steaming right on into the ‘ice field’ full-speed, because the guys at the helm figured they were unsinkable. What short-sighted stupidity… from guys with such good educations. Here is what I think is the simplest of mathematical explanations for predicting the future outcome of all of this greed and stupidity….If you milk the cow six times a day…it WILL die!!

  12. James says:

    Moses and his generation roamed the Sinai Desert for forty years until most of his generation passed on. God would not allow them to enter the promised land because of their bickering, selfishness, ungratefulness, negativity and downright corrupt minds, despite His presence, protection and care. It took the next generation of Israelites led by Joshua to enter the promised land and start on a new, clean slate to fulfill God’s promises.

    Likewise, our current generation of banksters must go. They must be pastured out and not be allowed to do any business in our financial system. They failed miserably. Where are our courts? Where are our Congressmen? Where is our President and where are our citizens?

    A good starting point to make our financial system work right is to remove our current crop of corrupt bankers. Next in line is our corrupt Congressmen, and on and on. America is a land of promise only if we citizens insist or demand having leaders of integrity.

    It is an old and tired cliche, but President John F. Kennedy had it right when he declared: “Ask not what you can do for yourselves, but ask what you can do for your country.” It is appropriate for these trying times, put country ahead of yourselves. This is a mantra America must adopt and embrace to save itself because the road ahead digging ourselves out of the deep federal deficits will be long and difficult.

    • Sally says:

      James’ comments make excellent points. However, I believe the JFK quote is “Ask not what your Country can do for you but ask what you can do for your Country.”

  13. Joe says:

    Telling it like it is again, Shah. The only banksters you forgot to mention in this article are those at UBS. The way they screwed me over during the meltdown makes for a sordid story itself. Suffice it to say, they managed to lose me more money than I was able to do on my own after selling me a product claimed to perform well especially during down markets. Liars all, and that’s taking a benevolent view.

  14. Pat says:

    Too bad we can’t just have lies like the one told by the winner of a “How hot is it?” contest on a radio station in (I think I’m not lying) Atlanta. The idea was to tell the funniest all tale about how hot it was that day, and the winner got a prize.

    The winner was an old farmer who called in to say it was so hot that all his hogs melted, the fat all ran out into the front yard, and now his potatos were coming up french fries.

  15. Bill says:

    Blame, Obama, blame, Bush(s), blame Clinton, Blame Reagan, blame congress, blame anybody other than us. GO look in a mirror people, we keep re-electing the same representatives and wonder why things are the way they are.

    Term limits? We have them, DO NOT VOTE FOR INCUMBENTS.

  16. michael trupei says:

    Shah! I am reading the comments above and they so right. First of all, we got to go back about 185 years, or revisit Andrew Jackson’s democracy, who was as 7th President of United States of America, de jure, (Not the United States of February 22, 1871 – United States de facto a/k/a Federal Corporation), closed the Federal Bank. Where he called them: snakes, vipers, rogues, snakes in the grass, thiefs, scoundrells and the like. (See U.S.A.History). Not until December 23, 2013, the Banksters, the JPM, Warburgs, et al., weaseled themselves back into the saddle for the purposes to reestablish their fraud, deceit and misrepresentation, en masse. In less than 20 years, on March 4th, 1933, they caused American people bankrupt. Whereby on that day,the FDR announced that the Government is bankrupt, defunct, insolvent, inter alia. This was/is the direct result of the Banksters, by the Banksters and for the Banksters, of course, with the help of the few Congressmen.. It was less appearant back then as it is today but the American people had elected their representatives, at least some of them, are not worthy of confidence. Also, the people back then were hungry, which is partly understandable at that time, they had to fetch the food to feed their families and themselves thus verly little time for politic was spent who they elected. (Remember – dipression, another conspiracy, within the conspiracy or in alternative an ongoing conspiracy, to say the least.)
    Aside from that, however, two weeks after the announcement of the bankruptcy by the FDR, Mr. Hitler responded stating: “Your money is worthless! From now on, every transaction shall be made in barter…!” I guess this response by the Fuehrer made the Banksters nervous, as they knew what will be like if Mr. Hitler in Europe and Mr. Henry Ford in America had took over the banking system. It would be similar to what the Andrew Jackson did 86 years earlier. Although the media portrays the history and/or the cause of the Second Worl War otherwise. It was the ongoing banking fraud, that was the main cause to go to war by and through a separate conspiracy to mislead the American people, so that Banksters would scam and practice their rip-offs with impunity, and with the help of the media, upon the people of the America as well as Canada ( Remember triangle: New York -Chicago – Toronto) and Europeans so as to establish their souvereignty over the both countries, continents and the world, thereby indenturing the people forever. President Kennedy, General Eisenhover, among many others, had said: “The Jew Frontier,” refering to the New World of Americas. For that, they killed him.
    As we speak, the only real solution to remedy the banking problem is perhaps another revolution. But before it comes to that, American people ought to learn how to read “Federal Register” published by the Congress on daily basis when the Congress is in session. And got to learn to speak up and/or object within the 180 days or prior to the Bill(s) is/are enacted, to their Representatives in Congress. If something in Federal Register goes against the Peoples interest or otherwise against the Constitution, the people must object thereto. If the objection is timely filed, and the Politicians failed to change their wrongdoings, than in the next election they must be thrown out of the Government. Simply put, they failed to serve the peoples wishes as they promised them, they would do, when so elected. Once those dishonest politicians are private citizens, they must be indicted accordingly for crimes committed while holding the office, irrespective to the statute of limitations, if any…. If this last part fails, then the only next step is to invoke the tool imbeded in the Second Amendment of the United States of America’s Constitution. Thus, and once again, it will be beginning from the beginning, and so be it! For the crimes commited by the Banksters, they shall immediately be indicted, arrested, tried, and if convicted, be sentenced to the maximum sentences allowable by the guidelines that are similarly enacted under the Drug Statutes – Title 21 U.S.C. Sec. 841, et seq.,(money factor) and/or allowable by law thereunder. As well as the mandatory return of all his/her/their ill goten assets, without filing any civil and/or criminal, forfeiture motions, as long as there is a nexus thereto, including the gold the Bankster stole 78 years ago from the people that likewise shall return to the American people – victims – “we the people!” And last but not least, re-enact and do so immediately “Glass Steagal Act”. Shah! your excellent input subject to the instant matter is hereby genuinely appreciated.

    Thanks again, and stay tight,

    Mike

    P.S. Shah, you must excuse my mistakes as I was unable to take time to edit and/or observe my sentence mechanics. I have other equally important matter in the pipeline elsewher and must also be completed on timely basis.

    Ciao, Mike

  17. "Sheila" says:

    I like this – people are beginning to wake up! The sleep is being rubbed from their eyes. Just don’t forget to face the future in whatever faith you have with full integrity and divine Love. It’ll see you through the coming tough times – Bon chance all of you. A well wisher from Aussie Downunder. Ours is just beginning here, the lies are just the same! In fact it’s the same conspiracy.

  18. Alexandra Chapman says:

    Shah,

    I love your “bolshie” way with words. It does cheer me up no end to see unambiguous language. I thought I was opinionated but you definitely are far far worse.

    Not sure that it’s the way to win friends and influence people though! Oh wait, I forgot – you don’t want to be friends with the Wall Street lot.

    A very senior banker said to me recently, the JP Morgan thing was a storm in a teacup and that Jamie Dimon was a “good guy”. I found that a depressing thought. Perhaps the loss is not large compared to the scale of their operations, but it does have a bad smell of market manipulation, which this time did not pay off as expected.

    I’d be interested in your thoughts on that …

    Alex

  19. Nightrider says:

    add John Corzine to the list. And a supplementary list of government bureaucrats responsible for this mess should include Bernanke and Geithner.

      • Steve says:

        Ahh, Sandra! I’ve been reviewing a screen play written by a progressive such as yourself. The plot is about Earth in the year of 4011 AD. Once again, the masters of money and power have enslaved the helpless masses; this time, by using a recently discovered high frequency device which somehow forces people to borrow money for things they can’t afford.

        The hero, a Mr. Kerrygore, rises to proclaim that the current demise of the masses is caused by a device now in the hands of the 1% invented by the G.W. Bush administration some 2010 years in the past.

        Now as preposterous as this seems, 4011AD gets closer everyday I read something which blames Bush for our current problems.

  20. ASHLEY GOODMAN says:

    How about JP Morgan and the Siver Scandal that took place in Britian? That was a notorious swindle that Mr Dimon and kin will get away with, nothwithstanding the law suit now pending. Our peerless leaders refrained from asking him about that dirty business. Did you know that the whistleblower and his wife were nearly killed by a hit man or so I have been told?

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