You might recall a recent article I wrote called
"Madoff in Perspective" where I point out that the real Ponzi scheme is being ignored - that orchestrated by the financial industry. I also make mention of this intentional fraud in America's Financial Apocalypse 2009 Update a few months earlier...
"What Madoff did was nowhere near as fraudulent as what the banking and mortgage executives did. Yet, he has become the latest scapegoat in this cycling pattern of booms and busts orchestrated by the Federal Reserve, Washington and Wall Street. Hopefully by now you're starting to figure out how the media is using every chance they get to deflect blame from the real villains; their Wall Street sponsors. But remember, Madoff's charade had absolutely nothing to do with this crisis.
So the question begs to be answered…when will we see Fuld (Lehman Brothers), Thain (Merrill Lynch), Killinger (Washington Mutual), O'Neal (Merrill Lynch), Prince (Citigroup), Cayne (Bear Stearns), Schwartz (Bear Stearns), Dimon (JP Morgan), Blankfein (Goldman Sachs), Thompson (Wachovia), Raines (Fannie Mae), Paulson (former U.S. Treasury), Greenspan (former Fed Chairman), Cox (former SEC Chairman), and hundreds if not thousands of others responsible for this mess in handcuffs?
Don't hold your breath. It didn't happen after the S&L Crisis or the dotcom meltdown. And it's not going to happen now. Hopefully, you know how the game is played. They'll pick out a few scapegoats; minor players, as a way to appease naïve Americans. This is the way it works. This is the sad reality of America . It's the American Dream for the rich and powerful, and the American Nightmare for everyone else. If you're a true American, you'll contact your congressmen and demand they be brought to justice. If they get enough calls, they'll feel the pressure to file charges. That's how it works. The media knows this. That's why they've done everything but stir the pot."
Tigers Never Change Their Stripes
"Don't forget, these men cleared billions of dollars in bonuses by fudging financial statements while packaging trillions of dollars of fraudulent loans into securities. This was money taken from shareholders who were lied to, and investors who bought these toxic securities. It was a twist on the classic pump-and-dump scheme.
In this case, CEOs pumped up revenues using outrageous assumptions, while hiding liabilities. Then they collected their bonuses – millions of shares of company stock at inflated prices; prices they inflated. Then they dumped these shares in the open market; to you and to your retirement plan.
They did this for several years. Over the past four years alone, the financial industry paid out over $100 billion in bonuses to executives. Despite record losses of over $1.5 trillion from the banks alone (with at least another $2 trillion to go), most executives and all of the grunts that serve them have walked away with every penny. It was theft, plain and simple. Yet, there have been no claw backs. Where do you figure that money came from? It came from your pockets. It was the biggest heist in world history. These guys are directly responsible for destroying the world economy.
Not only will they walk away unscathed, they'll walk away wealthier than before, strengthening the precedent that white collar crime pays in America, as long as you work for big corporations; corporations with cozy relationships with Washington. Without the fear of prosecution, CEOs will continue these scams over and over.
Even if you don't have any money in the stock market (no 401k, IRA, pension or any other retirement plan, and 529 plan), these ridiculous payouts still came from you because this crisis caused the Fed to smash rates to record lows. And this will eventually destroy the buying power of the dollar. In the meantime, banks are paying practically no interest on your savings.
Still, they aren't finished with you. They've taken your tax dollars and made sure to collect more bonuses while raising fees for bank accounts and credit cards. The banks are screwing you every way possible; you, the innocent victim. You should expect them to devise new ways to screw you. Tigers never change their stripes."
Throughout this debacle, I have made accusations against the executives of the major financial institutions, claiming they intentionally made bad loans and sold them off to naive investors. They did this of course to boost earnings, which automatically boosted their bonuses.
Let me reiterate. The executives of every single large financial institution (as well as some medium-sized ones) engaged in shareholder and securities fraud. And due to the response from Washington, one could argue that our political leaders are guilty of taxpayer fraud.
Connect the dots. Washington has passed out trillions of taxpayer dollars as an attempt to undo the fraud they created. This means they have provided taxpayer funds for criminal activities. Meanwhile, not one single executive from the financial industry involved in the real Ponzi scheme has faced charges. Even the SEC has stayed away. Folks, these activities are sufficient to start a revolutionary war. You certainly won't hear anyone on TV mention this because the media is filled with lying bastards and incompetent idiots.
Until today, I thought I was the only one making the accusation that the financial industry intentionally designed this real estate and banking fraud to fill their greedy motives. And of course the Federal Reserve was in on this scam.
But this morning I came across a video from the Bill Moyers Show, featuring an interview with Professor William K. Black. Professor Black was one of the instrumental investigators during the S&L crisis. And he has been very outspoken about the current crisis. While nothing he has said is news to me, it's likely to be news to the masses because they have been brainwashed by the mainstream media. Because Black has some mainstream exposure, I want to salute his honesty because he is the ONLY expert who has not been censored for speaking the truth.
What price will Black pay for his honesty? In America, you are promoted to high positions for doing the wrong thing, as long as it is the right thing for the company. The same is true for Washington. Our politicians get elected because they are funded by lobbyist groups representing corporations.
The question I have is how long before Black receives backlash from Washington and others. We already saw Elliot Spitzer's fate.
Now before you prove to me how the media brainwashed you, I want you to understand that Spitzer was taken out because he was doing the job the FBI and SEC refused to do. The media helped remove Spitzer by blowing his prostitute drama out of proportion. This made him appear as a "bad" person. Do you remember how the media hounded this issue for weeks, as if it was some huge deal. Apparently, the media made it into a huge deal; huge enough to pressure him to resign.
If every politician who met with prostitutes was forced to resign, we wouldn't have many elected officials. Excuse me, but I will personally pay for prostitutes for any politicians who goes after Wall Street crooks. It would be a very cheap price to pay.
Now Andrew Cuomo, New York State Attorney General is going after the banking executives. I am wondering when he will be framed.
Let me be clear. Black and Cuomo are in grave danger because they are doing the right thing. They are going after the biggest criminals in the world. The financial industry executives have committed crimes that are worthy of placing them on the FBI's Most Wanted list. Yet, people do not realize this because the media dictates what people deem as real issues. Hopefully by now you understand how dangerous America's media industry has become.
I want to warn you about that anyone you read or see on TV speaking about this Ponzi scheme who does not label it as such and who does not demand the villains be sent to prison. They are covering up the truth and you should denounce them. Better yet, just get rid of your television set and stop reading the newspapers.
You may not know this, but in 2008, I was questioned by Federal agents after the FDIC became worried that I would expose the details of the massive banking fraud I had uncovered. Specifically, I know for a fact that Washington Mutual was not only NOT insolvent, but several banks illegally shorted the stock in order to intentionally cause its demise, knowing that one of them would get the assets for essentially nothing. Finally, there was massive insider trading with WaMu stock. I summarized these findings in a 30-page formal report submitted to the SEC in October 2008. It will be made available to subscribers.
I plan to go public with the details of my encounters with the Feds, FDIC and OTS in the future.
UPDATE: August 20, 2012: By late 2010/early 2011, we determined that William Black is not who he represents himself to be. We have specific details pertaining to this conclusion. In short, Black is serving as a sounding board for those angry that no Wall Street executives have been indicted, all while he sits from the sidelines determining key investigators of committees that are supposed to investigate securities fraud, but have been designed to fail.
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