Charles Rangel does the censor tango

[loosecannon]

In the US corruption is business as usual. We have just institutionalized it whereas in Greece it is a sprawling black market and in MX they murder mayors in their homes.

 

[iamwhatiseem]

In the US corruption is business as usual. We have just institutionalized it whereas in Greece it is a sprawling black market and in MX they murder mayors in their homes.

Well if they pass a national sales tax here we may also see a growing black market.

 

[iamwhatiseem]

Actually..in terms of corruption, the United States fares pretty well when you compare it to nations around the world.

are you friggin kidding? I would say the exact opposite. Our government is a criminal enterprise at the representative level, and the biggest criminals in history are bailed out when they fraudulently crash the world's economy.

I would say that valued in dollars half the corruption in the the world is in the US.

You don't get much done without bribes in the rest of the world. Seriously.

You might have a case with Western Europe (which I still think is more corrupt)..but in the rest of the world..corruption is business as usual.

Corruption is business as usual in America too.
That is, if you are truly wealthy and well connected.
The entire American financial system, housing industry, investment companies etc. etc. are absolutely and unapologetically corrupt.

Let's just take one example - and it is a whopper.

Banks loaned money to people who couldn't possibly pay them back long term, in fact mortgage loans were tailor-made to have short-term payments that were affordable knowing that there was a very large chance the buyer would default later.
But they had nothing to fear. Because before that happened they knew they could sell the loans which would in-turn be mixed in with other assets and sold as investment vehicles to....wait for it...primarily 401k plans.

All of this was legal. In fact, the government was well involved in the whole scheme.

That is just one example of the many examples of the fleecing of America buy the government and by the largest financial institutions.

 

[Sallow]

are you friggin kidding? I would say the exact opposite. Our government is a criminal enterprise at the representative level, and the biggest criminals in history are bailed out when they fraudulently crash the world's economy.

I would say that valued in dollars half the corruption in the the world is in the US.

You don't get much done without bribes in the rest of the world. Seriously.

You might have a case with Western Europe (which I still think is more corrupt)..but in the rest of the world..corruption is business as usual.

Corruption is business as usual in America too.
That is, if you are truly wealthy and well connected.
The entire American financial system, housing industry, investment companies etc. etc. are absolutely and unapologetically corrupt.

Let's just take one example - and it is a whopper.

Banks loaned money to people who couldn't possibly pay them back long term, in fact mortgage loans were tailor-made to have short-term payments that were affordable knowing that there was a very large chance the buyer would default later.
But they had nothing to fear. Because before that happened they knew they could sell the loans which would in-turn be mixed in with other assets and sold as investment vehicles to....wait for it...primarily 401k plans.

All of this was legal. In fact, the government was well involved in the whole scheme.

That is just one example of the many examples of the fleecing of America buy the government and by the largest financial institutions.

Well aware of all of this..I work in the financial industry. Most of the reason that Glass-Steagall act was repealed was to keep up with German and Chinese banks, involved in very much the same practices. And heck..forget Swiss banks..

And I am not saying corruption does not exist in the United States..it does. But in terms of degree..this country has much less corruption then found in other parts of the world.

 

[Revere]

You don't get much done without bribes in the rest of the world. Seriously.

You might have a case with Western Europe (which I still think is more corrupt)..but in the rest of the world..corruption is business as usual.

Corruption is business as usual in America too.
That is, if you are truly wealthy and well connected.
The entire American financial system, housing industry, investment companies etc. etc. are absolutely and unapologetically corrupt.

Let's just take one example - and it is a whopper.

Banks loaned money to people who couldn't possibly pay them back long term, in fact mortgage loans were tailor-made to have short-term payments that were affordable knowing that there was a very large chance the buyer would default later.
But they had nothing to fear. Because before that happened they knew they could sell the loans which would in-turn be mixed in with other assets and sold as investment vehicles to....wait for it...primarily 401k plans.

All of this was legal. In fact, the government was well involved in the whole scheme.

That is just one example of the many examples of the fleecing of America buy the government and by the largest financial institutions.

Well aware of all of this..I work in the financial industry. Most of the reason that Glass-Steagall act was repealed was to keep up with German and Chinese banks, involved in very much the same practices. And heck..forget Swiss banks..

And I am not saying corruption does not exist in the United States..it does. But in terms of degree..this country has much less corruption then found in other parts of the world.

Were German and Chinese banks ordered to give mortgages to people they knew could not pay them back, like American banks were?

 

[hortysir]

Did he say a curse word?
Did he run around naked?

Why is he being censored?

 

[loosecannon]

And I am not saying corruption does not exist in the United States..it does. But in terms of degree..this country has much less corruption then found in other parts of the world.

But that just isn't true! Here in the US corruption is flooding from the halls of the Capitol building and is conducted on an industrial scale throughout the financial industry, energy, tobacco, insurance and other industries. Hell our own military gives away literally billions in bribes and then can't account for the cash trucked in by the pallet load.

$9 billion in cash unaccounted for in Iraq alone.

 

[loosecannon]

Corruption is business as usual in America too.
That is, if you are truly wealthy and well connected.
The entire American financial system, housing industry, investment companies etc. etc. are absolutely and unapologetically corrupt.

Let's just take one example - and it is a whopper.

Banks loaned money to people who couldn't possibly pay them back long term, in fact mortgage loans were tailor-made to have short-term payments that were affordable knowing that there was a very large chance the buyer would default later.
But they had nothing to fear. Because before that happened they knew they could sell the loans which would in-turn be mixed in with other assets and sold as investment vehicles to....wait for it...primarily 401k plans.

All of this was legal. In fact, the government was well involved in the whole scheme.

That is just one example of the many examples of the fleecing of America buy the government and by the largest financial institutions.

Well aware of all of this..I work in the financial industry. Most of the reason that Glass-Steagall act was repealed was to keep up with German and Chinese banks, involved in very much the same practices. And heck..forget Swiss banks..

And I am not saying corruption does not exist in the United States..it does. But in terms of degree..this country has much less corruption then found in other parts of the world.

Were German and Chinese banks ordered to give mortgages to people they knew could not pay them back, like American banks were?

That's the wrong question but the answer is no. Were German and Swiss and Japanese and Chinese banks selling the world's financial centers securities that everybody inside the US knew were fraudulent and bogus?

The US committed global securities fraud on a scale that breaks all world records for fraud. We stole trillions of dollars from the international investment community.

More than all the petty corruption in the world combined.

 

[Revere]

Well aware of all of this..I work in the financial industry. Most of the reason that Glass-Steagall act was repealed was to keep up with German and Chinese banks, involved in very much the same practices. And heck..forget Swiss banks..

And I am not saying corruption does not exist in the United States..it does. But in terms of degree..this country has much less corruption then found in other parts of the world.

Were German and Chinese banks ordered to give mortgages to people they knew could not pay them back, like American banks were?

That's the wrong question but the answer is no. Were German and Swiss and Japanese and Chinese banks selling the world's financial centers securities that everybody inside the US knew were fraudulent and bogus?

The US committed global securities fraud on a scale that breaks all world records for fraud. We stole trillions of dollars from the international investment community.

More than all the petty corruption in the world combined.

Under the nose of, and with the blessing of, the US government, who had a vested interest in propping up worthless mortgage backed securities. It ordered banks to make the mortgages. What the hell was it going to do after that?

 

[loosecannon]

Were German and Chinese banks ordered to give mortgages to people they knew could not pay them back, like American banks were?

That's the wrong question but the answer is no. Were German and Swiss and Japanese and Chinese banks selling the world's financial centers securities that everybody inside the US knew were fraudulent and bogus?

The US committed global securities fraud on a scale that breaks all world records for fraud. We stole trillions of dollars from the international investment community.

More than all the petty corruption in the world combined.

Under the nose of, and with the blessing of, the US government, who had a vested interest in propping up worthless mortgage backed securities. It ordered banks to make the mortgages. What the hell was it going to do after that?

It lended subtle support for deterioration of lending standards and it guaranteed the results. It's an embarrassment to our nation. Both parties were fully culpable. We should punish them with obsolescence.

 

[hortysir]

OOoohhh!!!!


You meant "censured"

:duh:

 

[editec]

Power corrupts.

Charlie, like many before him, and still more to come, got sloppy and abused his power to the point that even that den of wink and nod theives couldn't countenance it.

He's damned lucky that he isn't going to the slammers.

But then that could be said for many who as yet have not been caught.