Toxic & Destructive Culture Motivated by Greed.

Discussion in 'Economy' started by Neubarth, Mar 17, 2012.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    When that Goldman Sachs Executive quit the company and said he was quitting because they had created a "Toxic & Destructive Culture Motivated by Greed." he was not just talking for the sake of talking.

    The fact remains that our Major Banks have been engaged in Destructive Practices in investments because they know that the US and the world will bail them out if their insane derivative BETS to ensure their foolish investments FAIL.

    We did it before in the Savings and Loan Crisis when I was a young man and we did it in the last year of the Dubya Administration (Bush Jr.) in 2008. The Big Bankers do not give a damn because no matter what they do, they get their multi Million Dollar Bonuses for turning instant profits with grossly immoral schemes.

    I have pointed out the Mortgage Crisis. Most of the Republiscams in that idiotic Rape of the Country (They Scamed our Republic) try to make people think that the bad loans were pushed upon them by the Government in order to get more Blacks and Hispanics (Minorities) into home ownership. That was a blatant lie. The overwhelming Tidal Wave of mortgages that had to be foreclosed on were for Whites (People of European Ethnic Descent).

    Why? Simple! In 2003 the banks realized that as long as they could offload the mortgage on somebody else, they could "pretend that the home buyer was a good risk." They would "pretend" because they would not even check to see if the home buyer had a job. They did not do background checks on millions of home buyers. The Banks would write the mortgage and take their INSTANT PROFITS (Points and fees that amounted to thousands of Dollars up front to the bank) and then sell the loan to Fanny and Freddy and have nothing to worry about. They made their instant profit and then additional profit when they sold the loan to Fanny and Freddy and they were free of risk. If they did not do that, they bundled the mortgages and sold them as investments to unsuspecting retirement funds (State Funds, County Funds, City Funds, Corporate Funds) and other investment institutions.

    They made certain they had All the profit but None of the risk. Meanwhile their executives were paid Millions in bonuses (Billions in the aggregate!)

    Knowing that "All that BAD Paper" in the economy would cause an economic collapse, many of the banks took out derivative bets that the economy was going to collapse, which it did in 2007 - 2008 (The last year and a half of the horribly corrupt Dubya Administration.)

    The economic collapse was planned by the Corrupt Big Bankers, many of whom own whole islands in the Caribbean other hide-away locations that they can run away to. They believe that the Corrupt Government Judicial System (CGJS) will not prosecute them for their criminal behavior and multi Trillion Dollar Rape of this country. After all, the system has always had the Rich Bankers and Rich Industrialists and Rich Judges all scratching each others' backs.
     
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  2. Neubarth
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    Neubarth At the Ballpark July 30th

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    That former GS employee had either found religion and wanted to amend his ways, OR he was just burned out on all of the corruption that runs rampant during every Republican Administration.
     
  3. Neubarth
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    Neubarth At the Ballpark July 30th

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    Republican = corruption
     
  4. daveman
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    daveman Diamond Member

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    Have you ever noticed that when someone condemns greed, he wants free stuff that others earned and he didn't?

    I have.
     
  5. Truthmatters
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    greed is not good.

    No matter how much you love it
     
  6. Truthmatters
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    Truthmatters BANNED

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    Those who attempt to raise greed to some level of honor are not good people
     
  7. MikeK
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    MikeK Gold Member

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    Of course you're right. But while the activities (CDOs) described in the OP certainly were motivated by degenerate greed they collectively represent a massive, well organized and methodical crime against the American People. A crime so brazen even a moderately efficient prosecutor could establish a solid criminal case against the participants in this criminal scheme (and others).

    As for those who would evade prosecution by expatriating to The Bahamas, etc., if the Congress were not so thoroughly corrupted it would be no problem to indict in absentia, legislate the necessary laws, and to apply firm pressure to those nations that might resist our efforts to extradite and deal with those criminals who looted our treasury and thus recover much of what they stole.

    But, as is becoming more obvious, the bankers and Wall Street manipulators are only half the problem. Because they could not have managed the schemes without the aid of corrupt government officials (including presidents) who eliminated regulations which prevented such maneuvers and enacted laws to enable them.

    Unfortunately, nothing short of a radical political revolution will result in the kind of action needed to recover our losses and punish those who are responsible for them.
     
    Last edited: Mar 17, 2012
  8. daveman
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    daveman Diamond Member

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    Didn't you hear? They already declared the Worker's Revolution.

    Eight guys showed up. Then they went back to the unemployment office.
     
  9. Truthmatters
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    you will never convince the American people that greed should rule our country
     
  10. daveman
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    daveman Diamond Member

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    I feel no obligation to defend an idea I haven't endorsed.
     
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