Thursday, May 21, 2015

Yes, We've Learned Our Lesson.

       Do you remember way back when Wall Street Banks helped provide Americans with the deepest Recession since the Great Depression? Remember how after an extended period a number of banks were determined to be too big to fail? And do you remember when these TBTF banks were fined and made to promise not to do anything like that again? And do you remember how those banks assured us they had learned their lesson and shouldn't be forced to obey stricter rules?
       Well they found a way to stick it to us again. The IMF, International Monetary Fund, has found these TBTF Wall Street banks involved in manipulating the values of a number of national currencies in trades. Now the average person says, "so what?" And to the average person, it just doesn't sound like it makes a difference in their day to day experience.
       But higher up the food chain it makes a difference to multi-national corporations and traders, even retirement funds. These Wall Street racketeers are skimming off the top. Think they're not involved in criminal activities? Hey, most of them have pleaded guilty to criminal activities charges and are paying fines almost as much as the profits they made on these deals last year alone.
       Regulators have now included more strict rules, but the banks have negotiated some loopholes in the new regulations to allow them to continue to, to do what? My guess is to allow them to continue business as usual. Another point of interest is that nobody has been charged with any crimes. Do you find that interesting? I find it a business as usual.
       Can you imagine if you pulled a stunt like that? The IRS, the Trade Commission, IMF and about a dozen other agencies would scoop you up and haul you off to Gitmo or some similar place. There you would remain while your family would be stripped of every dollar you ever earned, all you furniture, home, car, even your old shoes you use for gardening. Then you'd be released in some place like Bangladesh never to be heard from again until your grandson tries on a new pair of sneaks to find a message from you that says "Help, I'm being held against my will."

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