Of naked swindles, bear raids, and criminality in high places…!
ByOctober 23, 2009
I thought I had researched the root cause concerning the implosion of our capital markets last year quite thoroughly until a friend of mine passed on a link published in Rolling Stone on October 14, 2009. The eight page article by Matt Taibbi caused my blood to turn to icewater upon reading it. It is a story of nine days that changed the world and the destiny of the United States forever.
It’s an eight page read and I realize many folks will not take the time to both read and digest the material, but for those that do trade the markets like myself and others of the same persuasion the implications of this criminal activity on the part of a few players; ie., Goldman Sachs, Morgan Stanley et al. along with former Goldman CEO Hank Paulson and Timothy Geithner a protege’ of notorious John Thain, The Merrill Lynch chief who paid out billions in bonuses after the state spent billions bailing out his firm, both appointed to Treasury Secretary, the Fed’s complicity, along with both past and present Presidents will leave one both hushed and terrified at the same time.
http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle/1
Why terrified? Because post reading the article you’ll realize even your stock portfolio your dividend payments your perceptions of how the stock market is operated, the controls and oversight that should be in effect are minimally excercised if at all.
The U.S. is in effect a “Potemkin Village” held up by promissory paper backed by nothing other than hot air pumped out by scamsters from stock brokerages, bond traders, bankers of all stripes and levels, including the currency in your wallet; ie., counterfeiters and liars all…!
The following links provide profiles on both SOT’s Paulson and Geithner to allow readers to connect the dots and to provide a window into the common denominator between these two players who along with the Federal Reserve have virtually destablized our entire monetary paradigm in relation to crushing deficits, engineered inflation and overall destablization of the capital markets regardless of their claims to the contrary.
http://en.wikipedia.org/wiki/Henry_Paulson
http://en.wikipedia.org/wiki/Timothy_Geithner
Evidently Goldman Sachs and Morgan Stanley now own the the casino known as the United States of America albeit a crooked one.
Carl Nemo **==
5 Responses to Of naked swindles, bear raids, and criminality in high places…!
griff
October 24, 2009 at 8:17 am
As George Carlin once said, “it’s a big club – and you ain’t in it.”
I’ve never played in the stock markets because I knew early on that the game was rigged.
We’re being looted over and over and over again to the tune of trillions of dollars. This ridiculous healthcare debate was timed to take the immense pressure and public focus off the thieves on Wall Street and their enablers in Washington.
We’ve taken the bait and devoured it graciously.
“Every new regulation concerning commerce or revenue; or in any manner affecting the value of the different species of property, presents a new harvest to those who watch the change and can trace its consequences; a harvest reared not by themselves but by the toils and cares of the great body of their fellow citizens.” – James Madison
Carl Nemo
October 24, 2009 at 12:57 pm
Thanks Griff for your feedback and Madison quote. I save all your historical quotes to my quote archive of which I have hundreds.
The real tragedy behind this article is that Wall Street, center banks and mega-insurers have gone “hog wild” with evidently no one monitoring their activity.
A few weeks ago the SEC arrested a billionaire from Sri Lanka and some other guys for insider trading. The touted illicit gain was “pocket change”; ie., 25 million which probably only buys lunch and the tip in some NYC bistro… / : |
My main concern is the blowout concerning reconciliation between stock issued by a corporation and the phantom shares so readily created out of thin air to facilitate naked short selling. I’ve sold options on both commodities and stocks in my time, including naked plays, but peasants like myself are required to carry hefty margin accounts. You might sell the stock short but you can’t get your mitts on the money until you close out your position or at least it’s showing a paper gain by a fairly wide margin even then only having access to a fairly small amount of the hoped for gain when the position is closed out. This evidently doesn’t apply to these guys; ie, Goldman Sachs, Morgan Stanley et al.
I’m not a broker, but just a private investor that feels a major trust has been broken and seemingly no one at the top even gives a sh*t. This destruction of Bear Stearns, Lehmann et al. derivative players linked to them represents criminality that could only exist with the complicity of both appointed and elected officials along with failed regulatory bodies.
Most of the 16 plus million people out of work can link their grief back to this banking center debacle referenced in this blogpost. Credit dried up as a function of this money game and the money loaned by our government to these institutions is still not trickling down to the ordinary citizen.
The mere fact this President stepped into office and appointed the very knaves who were involved with this to key positions and proceeded to push for even more bailout money courtesy of the U.S. tax debtor tells me he’s one uv’em.
Carl Nemo **==
Sandra Price
October 24, 2009 at 10:48 am
Thank you Carl…Your above links have been printed for further reading when I get home. Do you have your own website so I can ask questions?
Carl Nemo
October 24, 2009 at 1:00 pm
Hi Sandra Price,
No I do not maintain a website although I’ve moderated a number of them over time.
Feel free to ask questions within the body of this blogpost if you care to do so.
Thanks for your feedback.
Carl Nemo **==
Warren
October 24, 2009 at 3:31 pm
Remember Martha Stewart?
(Fox News, March 8, 2004)
She got significant jail time for what amounts to a trivial offense. Compare that to the villains who brought down Bear and Lehman. Billions of dollars. And trading records could conclusively prove serious infractions of SEC rules. Nobody will even look into it.
Amazing.
—W—