Rana Foroohar, in Rewiring the Banker Brain, says that “A culture shift is still needed to reconnect finance with the real economy.”
Foroohar writes “the best minds on Wall Street still spend the majority of their time figuring out new and smarter ways to game the system…finance is still disconnected from the real economy, which is one reason that the regulation battle rages on.”
However if you think the witless and gutless Congress is going to rat on their pals and really start to regulate these crooks, you are living in a dream world. This is attested, for example, by former comments made by former Minnesota governor Tim Pawlenty, who said the new rules would make “it harder for banks to lend and keep the economic recovery going.” Pity the poor bankers, unwilling to help keep the economy going for the rest of us, but it would bite into their personal one.
The author continues “there’s no reason to think that regulation would create a change, when the culture of banks still supports profit-making for it’s own sake, and doesn’t connect the dots between customers, personal behavior, and compensation.” A survey of those who actually work in the field came back saying “29% believed that financial services professionals may actually need to engage in illegal or unethical behavior to be successful.”
“The major banks simply don’t want to do small lending, even though it would spur the economy. It’s simply a very low profit area for them.” Bankers do not want capitalism via startups and small business anymore, they believe in the socialism of the banking communes.
Bankers are the problem and certainly not the solution for the causes of economic crises, maldistribution of income, laundering of money for drug lords and war lords, and financial mayhem in general.
Bankers and Wall Street traders rip off billions of currency for their own personal greedy gains, charge exhorbitant fees to the “little people” who put their money in to their trust and then turn around and make obscene profits off these same little people.
HSBC paid a huge fine of $1.92 billion “to Settle Money-Laundering Charges”
According to the authorities, “the banking giant transferred billions of dollars for nations under United States sanctions, enabled Mexican drug cartels to launder tainted money through the American financial system, and worked closely with Saudi Arabian banks linked to terrorist organizations.”
First of all why aren’t the entire group of managers of HSBC locked up forever for this laundering? While Obama is sending drones out, why not a few on the heads of the Saudi family? It seems that everywhere I look these fundamentalist terrorists are always looked over even though they are one of the largest bank rollers of terrorist organisations in the world. Why is that Mr Obama? Do you suppose oil has anything to do with it? After all none of the alleged 9/11 perpetrators were Iraqis, they were Saudis. bin Laden was a Saudi. Get it through your heads folks, the Saudis are not the friends of “truth, justice and the American way.” If there ever was a case for regime change, Saudi is the best example.
- Bank of Credit and Commerce International: billions, drug trafficking money, mid-1980s.
- Bank of New York: $7 billion USD, late 1990s
- HSBC: money-laundering hundreds of millions of dollars for drug traffickers, terrorists, throughout the 2000s.
- Liberty Reserve: laundered $6 billion.
- Nauru: $70 billion USD, late 1990s
- Sani Abacha: $2–5 billion USD laundered through banks in the UK, Luxembourg, Jersey (Channel Islands), and Switzerland
- Standard Chartered: laundered hundreds of billions of dollars for Iran, hid 60,000 transactions worth $250 billion
Citigroup is another den of thieves who eventually were bailed out by the United States government.
The US government looked the other way while these thieves took your money and then the government took your taxes to keep them afloat, thereby allowing these “banksters” to keep their inflated offices. Why not execute a few of them without trial? Obama the Bomber has no reluctance about ordering drones to kill alleged terrorists, so why not a few of these white bankers who help terroritst with their bankrolls so he can really top off his day and actually do some good for a change?
George Carlin gave us a solution to this problem which I think is one of the best I have come across yet — “public executions of the fucking bankers.” As he says “Drug dealers aren’t afraid to die but the bankers who launder the drug money are!” HSBC for instance is just one glaring example among others.
Under normal circumstances I am against capital punishment but I gotta agree with George, if the government wimps (aka Congress) on Capitol Hill were honest, they would aggressively exercise the death penalty against those “white collar” punks who rob families of billions of their life savings or retirement accounts through bad investment schemes. The bankers and Wall Street moguls ruin more lives, kill more people and steal more money from the American public every minute than all the “Saturday night special” holdups combined.
Carlin says one form of execution could be something the “Jews and Christians of American can really appreciate–Crucifixion” which is “a method of deliberately slow and painful execution in which the condemned person is tied or nailed to a large wooden cross and left to hang.”
He says the executions should be done live during the half times of Monday Night Football games. Carlin claims if you nail one “white fucking banker” to a cross every week, you will see the drug traffic slow down “pretty fucking quick.”
Carlin then goes farther and says the country could really liven up capital punishment a bit. He said if it were marketed right it might even raise enough money to “balance the stupid fucking budget.” If you did year-round capital punishment you could ask for sponsors, such as Marlboro cigarettes or Dow Chemical, after all they shouldn’t mind the idea of killing people. The networks might start with beheadings, slow motion and instant replay, the audience would probably go wild. Look at the public reactions when Saddam Hussein and Osama bin Laden were executed. Imagine the glee if it were bankers?
All George Carlin is advocating is a difference in degree. Burning at the stake for example would get audiences “fired up,” (pun intended) and Carlin suggests the sponsor could be a charcoal company. Boiling in oil, “good, wholesome, family entertainment sponsored by Crisco.”
Perhaps they could rapid-fire a bunch of bankers in succession off a catapult into a brick wall. That would really make for a slow-motion instant replay that only Americans could enjoy.
A friend of mine agrees whole-heartedly, he wrote “Capitol punishment for bankers doesn’t go far enough. If a corporation has the rights of a person, which it does, it should have the responsibilities of a person, and should be punished as a person. Capital punishment for these corporations is what’s needed. Shut them down, destroy their corporate charter and distribute their assets to the public. That’s in addition to driving all the executives who do not face capitol punishment into the desert there to dwell with their generations. That would damn sure clean up the acts of other corporations.”
People blanche at or are disgusted by these suggestions, yet, as George reminds us, “the blood is already on our hands.” The US state and federal governments murder people every day; through “capital punishment” or executions virtually every Texas governor seems to love to sign those papers and of course, Obama the Bomber is always at his video console using his drones straight to another execution without trial.
Long live capital punishment–for bankers!