Goldman Sucks on 60 Minutes

Sometimes it takes popular comedians to inform Americans of the twisted reality:

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Goldman Sucks and the banking elite are at the heart of the greatest Ponzi scheme fraud and theft in human history: the private banking industry.

Now the government has sacrificed the full faith and credit of the United States of America to perpetuate the con while the American people, i.e., the taxpayers responsible for the impossible tab to come, have sat idly by, too busy entertaining themselves to death.

This will not last IMHO, but I imagine the Evil One will get to us before the evildoers on Wall Street are brought to justice under American law. Of course, some might conclude the coming war on world capitalism by the forces of world communism is the historical form justice is taking based upon God's law. The West, knee-deep in sin, avarice and material excess, opted not to see the conflict coming (as so "incentivised") and thereby made it happen.

I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs. - Thomas Jefferson

Them's fightin' words!

President Obama effectively declared war on Wall Street's reckless greed this morning:



This sent the stock market into a tailspin, particularly the share prices of big banks and Goldman Sachs in particularly:



As it has been, Wall Street has been raking in record earnings and fat bonuses by effectively gambling with the money of depositors and taxpayers. When their risky bets went sour after the housing market turned down, the big banks were too big to fail, so taxpayers had to bail them out to the tune of $2.5 trillion. In the wake of that bailout, and after accounting standards were twisted to keep the banking system technically solvent, Wall Street had a banner year in 2009 for which they are now rewarding themselves around $150 billion in bonuses. That this whole Ponzi scheme is one of the most unprecedented crimes in American history is a profound understatement.

Well, President Obama, to his credit, has decided to put his foot down by invoking, rather aptly, what he dubbed the "Volcker Rule". Consequently, the robber barons on Wall Street are bound to chop off the President's foot and tank the stock market thereby harming the effective savings of millions of Americans who have placed blind trust in the most untrustworthy sorts. The President's announcement today was like declaring an end to the largest Ponzi scheme in human history.