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Everyone remembers the heyday of gangster America.  Murder Inc. and the trail of dead goombas that came to represent Organized Crime in the USA, headed by guys with names like “Lucky” Luciano and “Bugsy” Siegel..

Willie Sutton famously quipped “That’s where the money is!” when he was asked why he robbed banks.  Another saying to come down over the years is “The best way to rob a bank is to own it” and evidently our gangsters took that advice to heart.  Now, criminals with names like Bugsy Blankfein and Legs Dimon have moved out of the shadowy world of loan sharking and went legit.

This is what has happened to throw such a monkey wrench into the daily operation of this country.  Think NYC corruption nation wide.

William Black, who sent the fraudsters to jail when they did this with the Savings and Loans in the 1980s was right then and he is right still.

The Best Way to Rob a Bank is still to Own One: a Postscript

Posted on October 8, 2012 by Devin Smith | 2 Comments

By William K. Black

The central questions for a theorist are whether his theory showed strong explanatory power and to what extent it proved useful in diverse settings. A distinguished economist, Dr. Jayati Ghosh, has addressed those questions in an article in which she was explaining to Indian readers that a large fraud, Satyam, was not the product of unique defects in Indian regulation.

But the truth is that instances like Satyam are neither new nor unique to India. Similar — and even more extreme — cases of corporate malfeasance abounded in the past decade, across all the major capitalist economies, especially in the US. And these were not aberrations, rather typical features of deregulated capitalist markets.

Furthermore, there is also quite detailed knowledge about the nature of such criminal tendencies within what are supposedly orderly capitalist markets. Four years ago, at a conference in New Delhi, the American academic William Black spoke of how financial crime is pervasive under capitalism. He knew what he was talking about: as an interesting combination of lawyer, criminologist and economist, he recently authored a best-selling book on the role of organised financial crime within big businesses.

This book — The Best Way to Rob a Bank Is to Own One: How corporate executives and politicians looted the S&L industry — is a brilliant exposé of the savings and loan scandal in the US in the early 1980s. It received rave reviews, with the Nobel prize-winning economist George Akerlof calling it a modern classic and praise came from all quarters including the then chairman of the US federal reserve, Paul Volcker.

via The Best Way to Rob a Bank is still to Own One: a Postscript – New Economic Perspectives.

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In all the verbal confetti being thrown around considering the revelation that American citizen’s phone”meta-data” is being recorded it is important to remember this from 1 month ago:

 

Regardless of their claims about “meta-data” they are recording the actual conversations as well.  I have wondered on many stories these last few years how newspaper reports could offer transcripts of phone calls after the fact.  This explains how.  Calls are not being listened to in real time, but if they want to “get” someone they can pick through all their calls, texts, and emails until they find something to “investigate”.

Just one more stick added to the camel’s back.  How much can he bear?

 

This guy wrote an excellence article drawing together the pieces to explain how we are being destroyed financially.  This system is not Humanist, it’s not Capitalist and it certainly isn’t Democracy.    As I have tried to tell anyone that will listen for 20 years now it is Neo-Feudalism, with CEOs, “Officials” and Cops replacing the Kings, Dukes and Knights.  We need to keep going forward rather than regressing back to and ugly time in our history.

Great Job Michael!

 

http://investmentwatchblog.com/top-1-own-39-of-all-global-wealth-hoarding-soars-as-we-hurtle-toward-economic-oblivion/

Top 1% Own 39% Of All Global Wealth: Hoarding Soars As We Hurtle Toward Economic OblivionMay 31st, 201337 4 0 0 51

By Michael

According to a study that was just released by Boston Consulting Group, the wealthiest one percent now own39 percent of all the wealth in the world. Meanwhile, the bottom 50 percent only own1 percent of all the wealth in the world combined. The global financial system has been designed to funnel wealth to the very top, and the gap between the wealthy and the poor continues to expand at a frightening pace. The global elite continue to hoard wealth and heap together enormous mountains of treasure in these troubled days even though the economic suffering around the planet continues to grow.

So exactly how have the global elite accumulated so much wealth? Well, one of the primary ways is through the use of debt. As I have written about previously, there is about 190 trillion dollars of debt in the world but global GDP is only about 70 trillion dollars. Our debt-based global financial system systematically transfers wealth from us and our governments into the hands of the global elite. And of course the gigantic banks and corporations that the elite control are constantly gobbling up everything of value that they can find: natural resources, profitable small businesses, real estate, politicians, etc. Money, power, ownership and control are becoming very, very tightly concentrated at the top of the food chain, and that is a very dangerous thing for humanity.

When too much money and power gets into too few hands, it almost always results in tyranny.What will eventually happen when the global elite have ALL the wealth?Will the rest of us work as serfs in a system that they have iron-fisted control over?And what if they decide that they don’t really need billions of people working for them? Will they decide to implement population control measures in order to reduce the number of “useless eaters”? It is already happening in China and other highly centralized societies.

When all of the economic rewards of a society go to a very small handful of people, it tends to be very destabilizing. We have seen this again and again throughout history.When people have everything taken away from them and they have nothing left to lose, they tend to become very desperate. And right now we are rapidly hurtling toward a time of great global instability. Anger and frustration are growing all over the globe, and the rate at which the gap between the wealthy and the poor is widening seems to be accelerating.

Just check out these numbers…

-The wealthiest 1 percent of the global population now owns 39 percent of all the wealth on the planet.

-According to a report that was released last summer, the global elite have up to 32 TRILLION dollars stashed in offshore banks around the planet.

-According to a study conducted by Credit Suisse, the bottom two-thirds of the global population owns just 3.3% of all the wealth.

-A study by the World Institute for Development Economics Research discovered that the bottom half of the world population ownsapproximately 1 percent of all global wealth.

-It is estimated that the entire continent of Africa only ownsapproximately 1 percent of the total wealth of the world.

-Approximately 1 billion people throughout the world go to bed hungry each night.

-If you can believe it, more than 3 billion people currently live on less than 2 dollar a day.

 

My fellow Americans, we need to wake up to what is being done to us.  These types of stories bombard us every day.  The Germans would riot today, not tomorrow, if they attempted to treat their people as the United States treats its’ citizens!

Published on Wednesday, May 29, 2013 by Common Dreams

German Official Warns of Immediate ‘Revolution’ if EU Adopts US Model

German Finance Minister Wolfgang Schäuble urges adherence to Europe’s welfare model

– Andrea Germanos, staff writer

Europe must not drop its welfare model in favor of US standards or it will spark a revolution “not tomorrow but the same day,” Germany’s Finance Minister warned on Tuesday.

Speaking at a conference in Paris, Wolfgang Schäuble was joined by other German, French and Italian ministers in issuing warning calls over the soaring unemployment plaguing nearly six million European youths, and that threatens an “entire generation of people” and risks losing “the battle for Europe’s unity.”

Warning of “catastrophe,” Schäuble said, “We need to be more successful in our fight against youth unemployment; otherwise, we will lose the battle for Europe’s unity.”

Reuters reports:

While Germany insists on the importance of budget consolidation, Schaeuble spoke of the need to preserve Europe’s welfare model.

If U.S. welfare standards were introduced in Europe, “we would have revolution, not tomorrow, but on the very same day,” Schaeuble told a conference in Paris.

via German Official Warns of Immediate ‘Revolution’ if EU Adopts US Model | Common Dreams.

Next thing I see is an article about  the top “earners” of the planet, ie the Genetic Lottery winners, are not only killing us with disease and despair, they are also slaughtering us financially:

The World’s Richest 8% Earn Half of All Planetary Income

http://www.alternet.org/news-amp-politics/richest-8-earn-50-earths-incomesThe lead research economist at the World Bank, Branko Milanovic, will be reporting soon, in the journal Global Policy, the first calculation of global income-inequality, and he has found that the top 8% of global earners are drawing 50% of all of this planet’s income. He notes: “Global inequality is much greater than inequality within any individual country,” because the stark inequality between countries adds to the inequality within any one of them, and because most people live in extremely poor countries, largely the nations within three thousand miles of the Equator, where it’s already too hot, even without the global warming that scientists say will heat the world much more from now on.

For example, the World Bank’s list of “GDP per capita (current US$)” shows that in 2011 this annual-income figure ranged from $231 in Democratic Republic of Congo at the Equator, to $171,465 in Monaco within Europe. The second-poorest and second-richest countries respectively were $271 in Burundi at the Equator, and $114,232 in Luxembourg within Europe. For comparisons, the U.S. was $48,112, and China was $5,445. Those few examples indicate how widely per-capita income ranges between nations, and how more heat means more poverty.

Wealth-inequality is always far higher than income-inequality, and therefore a reasonable estimate of personal wealth throughout the world would probably be somewhere on the order of the wealthiest 1% of people owning roughly half of all personal assets. These individuals might be considered the current aristocracy, insofar as their economic clout is about equal to that of all of the remaining 99% of the world’s population.

Milanovich says: “Among the global top 1 per cent, we find the richest 12 per cent of Americans, … and between 3 and 6 per cent of the richest Britons, Japanese, Germans and French. It is a ‘club’ that is still overwhelmingly composed of the ‘old rich’,” who pass on to their children (tax-free in the many countries that have no estate-taxes) the fortunes that they have accumulated, and who help set them up in businesses of their own – often after having sent them first to the most prestigious universities (many in the United States), where those children meet and make friends of others who are similarly situated as themselves.”

Folks, it’s time to wake up and start paying attention.  As our founders stated, the price of Liberty is eternal vigilance.

Aleksandr Solzhenitsyn > Quotes > Quotable Quote

Aleksandr Solzhenitsyn

“And how we burned in the camps later, thinking: What would things have been like if every Security operative, when he went out at night to make an arrest, had been uncertain whether he would return alive and had to say good-bye to his family? Or if, during periods of mass arrests, as for example in Leningrad, when they arrested a quarter of the entire city, people had not simply sat there in their lairs, paling with terror at every bang of the downstairs door and at every step on the staircase, but had understood they had nothing left to lose and had boldly set up in the downstairs hall an ambush of half a dozen people with axes, hammers, pokers, or whatever else was at hand?… The Organs would very quickly have suffered a shortage of officers and transport and, notwithstanding all of Stalin’s thirst, the cursed machine would have ground to a halt! If…if…We didn’t love freedom enough. And even more – we had no awareness of the real situation…. We purely and simply deserved everything that happened afterward.”

― Aleksandr Solzhenitsyn

via Quote by Aleksandr I. Solzhenitsyn : And how we burned in the camps later, thinking:….