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Old 07-11-2008, 08:27 AM
indago indago is offline
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A few years back I wrote an article for The Constitutionalist entitled PREDATORS. Following is an excerpt from the article:
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William Greider, in his book Secrets of the Temple, a work that considers how the Federal Reserve Corporation "runs the country", related how "corporate raiders" are financed by the Federal Reserve Corporation. He wrote about how:

"T. Boone Pickens goes after Unocal. Carl Icahn raids Uniroyal. Capital Cities swallow ABC and General Electric grabs RCA. Ivan Boesky becomes a household name. Instead of the noble function of capital formation, investment bankers were preoccupied by this game of sharks. The stories of high-stakes combat over corporate ownership were no longer exciting once they became commonplace. While corporate raiders talked righteously about defending stockholders against slothful corporate managers, the fundamental force that motivated most of these "deals" was a direct result of the changed economic world the Fed had created — real assets languished and financial assets soared. The aim of the corporate manipulations was to extract capital invested in a company's less profitable real assets, its factories and buildings, so the wealth could be redeployed in the financial assets that offered much higher returns. This was accomplished partly by cannibalizing a company, selling off various parts and taking the cash, and by putting the company deeper into debt — borrowing now against future earnings. Though the techniques differed, the process of recapitalization under way in the eighties was in essence no different from the financial manipulations by J. P. Morgan and his contemporaries early in the century or the speculative stock-market games that financiers played in the 1920's. Nearly every player profited immediately, from the stockholders who got a higher price for their shares to the investment bankers who collected handsome fees for brokering the deals. The potential losers were mostly in the future — when the weakened corporation, saddled with more debt than it could sustain, failed."

He wrote that the larger corporations are not allowed to fail; the Federal Reserve Corporation would not let them fail. "The risk would be born by others, including U.S. taxpayers." Some of these predators have had their hand slapped by the federal government, fined a few million dollars, spent a few months in "summer camp", and then allowed to go free to enjoy millions left untouched that they had pilfered from the various communities through their "junk bond" deals. Our history has recorded the devastations that they have created; homeless people; jobless people; foreclosures; and etc.; while they play their monopoly games, for real.
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