Welcome to the Gallery – a place where you'll find hope and strength through the healing power of art and the universal reach of technology –
a place where you can
Connect, Create, and Thrive!
Interested in partnering with us?
Click here to find out how!
Displaying (1) Comments | Comment on this piece | Report objectionable art
David Losh- here's a rant from over on TickerForum about the banks. What a great way to start out Monday morning! There is/was a trilpe looting that occurred1) Bankers and brokers put people into debt and took their commissions. Most of this lending was fraudulent. That commission money is gone, and it's in the trillions if you include the billions that get made during bullchocolate corporate mergers and takeovers. That was looting operation number one, enriching the banks and brokers. The middle and lower class who are defaulting on their houses? Everything they invested in that house basically ends up in the pockets of the perpetrators of looting operation #1, massive movement of money into the hands of those who already have plenty, from those who barely have enough.2) The Banks, flush with capital, pay their employees, shareholders and board members from the loot pot. Goldman Sachs paid out 18 billion in bonuses. AIG, who knows. That's looting operation #2: launder the ill gotten gains into salaries and bonuses quickly, scatter it to the winds so it's almost impossible to recover. There is so much malfeasance here such as AIG restoring Goldman Sachs 12 billion of Credit Default Swaps at face value, money that technically didn't come to Goldman from the TARP, so doesn't have to be repaid. Nice move. Of course AIG will go under and all 180 billion funded by the taxpayer will be lost. You don't hear about AIG paying back any TARP funds do you? Hundreds of billions taken from taxpayers, right into the pockets of the already wealthiest people on Earth.3) With the loot safely stashed, the banks hold onto SOME of the bad deals they made, oops. These mortgages go sour. Wells Fargo, and BofA each have 800 billion face value or so of mortgages, nowhere near worth that much at market value. They are losing billions in value each month and the Federal Reserve and Federal Government are propping up these assets, especially the stocks of the banks so the people in the know can dump their positions before the real crash occurs. That's looting operation #3. Taxpayer money keeping the criminals and con artists in business.So the Fed and the Government can proclaim all they want that inflation isn't a problem, but what is happening is biflation, one sector of the population is getting a LOT more money, while the other, much larger part, is losing money. It's disgusting but it's so abstract that not enough people are angered by it. Someone added later that step 4 was to have the wealthy come back after the depression had set in and buy ALL the valuable assets for pennies on the dollar. They may be on to something As a side note, I read over the weekend that GoldmanSachs is getting ready to pay out record bonuses. It seems they had a great first quarter.. Have a great day! Rate this comment: 0 0
By: | Jul 21, 2012 | Report Comment
squaretocircleshrinking
mzabor
There are 365 pieces of art in this thread
