You are hereForums / ADS Forums / Open Threads / How our Bankster robbed us.

How our Bankster robbed us.


“The Best Way to Rob a Bank Is to Own One." - Bill Moyers - Video

... Liars loans ... Ninja Loans: No income verification, no job verification, no asset verification. ...

...Our financial system became a Ponzi scheme ... No oversight ...

.... the way that you do it is to make really bad loans, because they pay better. Then you grow extremely rapidly, in other words, you're a Ponzi-like scheme. And the third thing you do is we call it leverage. That just means borrowing a lot of money, and the combination creates a situation where you have guaranteed record profits in the early years. That makes you rich, through the bonuses that modern executive compensation has produced. It also makes it inevitable that there's going to be a disaster down the road. ...

 http://www.pbs.org/moyers/journal/04032009/watch.html

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

How the (bank bailout) Scam Works. - Collateralized debt obligations (CDOs)

http://informationclearinghouse.info/article22306.htm

http://www.youtube.com/watch?v=XjoJ9UF2hqg

CDOs were sold worldwide. Rated as highly secure investments by Wall-street swindlers. Poorly understood by foreigners. No oversight. - Result: Many foreigners were shafted royally.

Billions of US dollars are afloat worldwide. Just pieces of paper without backing.

The Quiet Coup. By Simon Johnson. The Atlantic Magazine. (Snips)

How bankers took power, and how they're impeding recovery.

... In a primitive political system, power is transmitted through violence, or the threat of violence: military coups, private militias, and so on. In a less primitive system more typical of emerging markets, power is transmitted via money: bribes, kickbacks, and offshore bank accounts. ...

... The oligarchy and the government policies that aided it did not alone cause the financial crisis that exploded last year. Many other factors contributed, including excessive borrowing by households and lax lending standards out on the fringes of the financial world. But major commercial and investment banks—and the hedge funds that ran alongside them—were the big beneficiaries of the twin housing and equity-market bubbles of this decade, their profits fed by an ever-increasing volume of transactions founded on a relatively small base of actual physical assets. Each time a loan was sold, packaged, securitized, and resold, banks took their transaction fees, and the hedge funds buying those securities reaped ever-larger fees as their holdings grew.

Because everyone was getting richer, and the health of the national economy depended so heavily on growth in real estate and finance, no one in Washington had any incentive to question what was going on. ...

... What we face now could, in fact, be worse than the Great Depression—because the world is now so much more interconnected and because the banking sector is now so big. We face a synchronized downturn in almost all countries, a weakening of confidence among individuals and firms, and major problems for government finances. If our leadership wakes up to the potential consequences, we may yet see dramatic action on the banking system and a breaking of the old elite. Let us hope it is not then too late.

http://www.theatlantic.com/doc/200905/imf-advice

Financial illiteracy got us into this economic mess.

It’s not the weak housing market, rising unemployment, inflation, fallout from the subprime mortgage fiasco, declining home prices, stock market volatility or geopolitical unrest in the Middle East. They are symptoms of the “spending crisis” in America. They are symptoms of the real issue: We are a country of financially illiterate people. ...

http://www.ajc.com/services/content/printedition/2009/04/08/loseyed0408....

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
 

Creating Money out of debt.. - (Video lecture) (Multiplier: $1,100 >>> ~ $100,000)

http://video.google.pl/videoplay?docid=-1887591866262119830

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Informed Activist

Support WarIsACrime



Donate.








Tweet your Congress critters here.


Advertise on this site!




Facebook      Twitter





Our Stores:























Movie Memorabilia.



The log-in box below is only for bloggers. Nobody else will be able to log in because we have not figured out how to stop voluminous spam ruining the site. If you would like us to have the resources to figure that out please donate. If you would like to receive occasional emails please sign up. If you would like to be a blogger here please send your resume.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.