The Crime of the Century!

The crime of the century continues. It is like no other crime because it involves not the typical T.V. style crooks seen by genius masterminds planning to steal the most valuable and priceless items, such as the Hope diamond, or precious original U.S. documents stored under glass, lock, key, and armed guards. But, an even greater crime performed by the President of the United States. This is a crime executed by the Bush Crime Family, yet planned and designed by the richest 400 or so (Forbes list) persons in the United States and around the world.

It is hard to believe there are such criminals, but they do exist. The crime is to take taxpayer’s money straight out of the Treasury and have it infuse the top 9 to 20 banks, not only in the United States, but around the world, in the form of a bail-out.

These very wealthy banksters and top-tier stakeholders, such as those controlling the most powerful hedge funds, have their hands deep inside the President of the United States making him move on their behalf. Bush, then, has his hands deep inside Paulson and Bernanke operating their every move on behalf of the “puppeteers”, or, one might call them “financial raptors”.

These raptors have instructed the government to purchase “toothless” shares in their financial institutions without public transparency or open exposure to the actual collateral exchanged, or held, for the bail-out packages. It is all secretive. No transparency. No identification of the collateral or of its true value. It is all done by design because the collateral is worth-less garbage securities, and uncollectable credit default swaps.

These financial institutions are floating in the liquidity made available through the hard work of taxpayers, as they toss off from their balance sheets toxic derivatives and securities into the sinking lifeboats of the U.S. government. Their reason for all of this is their ultimate crime-a crime by government design.

The purpose is to become even richer at the expense of mounting foreclosures and unemployment, as working Americans become victims of a mounting recession, or likely, a depression. The plan for these ultra-rich financial raptors is to take the paper wealth they are receiving and build fatter, and more solvent balance sheets, even though they greedily gambled bets mounting to massive losses while raking in huge salaries, and benefits as their stockholders took nose dives in portfolio loss-pits.

Also, they have taken $250 billion of bail-out money to pay themselves bonuses, salary increases, and payouts to primary stockholders. The Federal Reserve has handed out another $2 trillion in emergency loans in the form of secretive give-aways to banks and financial institutions, and are not willing to reveal who the recipients are of such extraordinary sums of OUR money. This sounds like Tony Soprano standing in a dark, out-of-the-way warehouse waving in a van filled with cash to be distributed to his loyal "friends" working on behalf of his cause. This is how the Bush Crime Family works. Bush is giving a bail-out pardon to all those loyal to his "cause". 

The financial institution’s bankers, then create new securitized investment vehicles through their hedge funds filled with ultra-rich greedsters and fraudsters that have been burning down the economic house we all live in, in order to buy up the remaining hard assets still standing in the country during a time when our own paper wealth smolders in the ashes of a chard economy.

They will buy up bankrupt or near bankrupt companies, corporations, service enterprises, and community infrastructure facilities unable to fund their own operations because their local communities are teetering on insolvency, such as water treatment plants, toll roads, and electric generation facilities, and much, much more in order to actually own and control the industrial and service sectors, turning public into private infrastructure, while transforming what is left standing into their own wealth-generating engines!

It all began 30 years ago, and was minted into a finely crafted machine when the Future Commodities Modernization Act of 1999 was casted for them. This allowed banks to become financial investment institutions, and, in reverse, financial investment institutions to become banks. They morphed into full-service lending operations specializing in debt creation. Debt all of a sudden became the new wealth. It is called a “fiat currency” system. Also, private financial institutions were exempted from regulatory supervision. It was actually made illegal to do so. This put into play the rise of the laizzez-faire, greedy free-marketeering made available by Alan Greenspan through his power at the Federal Reserve and influence at the Treasury to make cheap money available to his neo-liberal, banksta pals. A money-making, unregulated, super-leveraged, fraudulently rated, casino-like frenzy was given a go-ahead.

The financial bubble broke and spilled all over us throughout these last 8 years. There was the tech bubble, then the housing bubble, and ending with the financial bubble. The Bubble Boy President and His Bubble Making Machine. Whatever has not been out-sourced and moved off-shore, will be bought up through taxpayer (and foreign borrowed) dollars, reinforced by cheap government interest rates, yet not earned the old fashioned way through hard work, but by sitting at a computer terminal or around a nicely polished mahogany conference desk for mere pennies on the dollar.

This is the crime of the century. President-elect Obama has been quiet about any outrage about this. He has been silent regarding this deliberately planned theft upon the nation. His game-board-pieces include Jim Leach, involved in the deregulation legislation, and other capitulators to this crime. Obama MUST fix this raging wild fire of a disaster the right way, otherwise, a depression will sweep over us.

He needs to very quickly act once he takes office to blockade this theft upon the nation.

First, he must stop the economic bleeding in order to have capital for quickly improving the economy. This is a code red emergency! Many have said he must close the 600 or so military bases around the world. Obama MUST end the $12 billion per month being pumped into the wars in Iraq and Afghanistan on January 21, 2009, and not 16 or so months later. That will be too late for US. Then, in order to allow Americans to feel they can move between jobs, and create start-ups, would be to end health care insurance company predatory practices, and put America on a universal health care system.

Also, he must drastically reduce the enormous (1/3 of our yearly government budget) Pentagon-war machine spending; raise taxes on the top-tier income earners; penalized corporations that have moved off-shore for cheap labor and practices, and reward those who return those jobs to OUR own workers; penalize nation-states and countries that value their currencies artificially low in order to sell their stuff cheap to us when they are actually showing trade surpluses, budget surpluses, and a growing GDP.

If Obama does not move immediately to implement these fast-acting initiatives and policies, then kiss a visible recovery within the next 16-24 months, if not longer, good-bye, and, very likely watch a depression sweep over this nation, while the ultra-rich financial raptors prey upon the hard assets of the country for themselves, whereby they will, ultimately, control wages, benefits, and employment rates for generations to come.

We have to ask, did these financial raptors know all along that the financial bubble would result in the crash of the nation’s assets? Did they know that their issuance of free-flowing cheap credit, in various configurations, accompanied by compounded interest payments that took the form of home loans, car loans, municipal loans, student loans, and business loans through credit lines, consumer paper, and long term debt would, eventually, collapse leaving a pile of distressed hard assets to pick through and carry to their nest of winnings? The signs were there: zero savings rate, the world’s biggest debtor nation with no surpluses having to borrow from the world’s surplus nations to feed our consumption habits, and speculation occurring everywhere, from homes, to toxic derivatives molded out of mortgage and other instruments of debt, to commodities, to leveraged buy-outs.

Did they stack the deck knowing that the house of cards would fall, and they, the raptors, with billions and billions of dollars in their personal portfolios, would eventually, fly off with cheap prizes? If so, they could not do it without the government handing them the rule book to re-write and the Treasury’s cash register open to pilfer, as well as the doormen to make it all accessible. So far, this has been the crime of the century. Now the question to ask is, “Is Obama on their side or our side of this crime scene?”

Thanks for reading,  jerry

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Louise Yamada, Smith Barney, Technical Research Advisor, economic forecast