Punishing Wall Street Institutions Instead of People : The New Yorker

http://m.newyorker.com/online/blogs/currency/2014/07/punish-the-executives-not-just-the-banks.html

When Alan Greenspan remarked on the decision to bailout rather than allow a financial company to fail and suffer bankruptcy, he knew the very foundation of capitalism was being seriously compromised.

Former  Chairman Greenspan described the free market tampering decision as “morally hazardous”. Little did he understand the effect would lead to tens of millions suffering. Trust shaken to its very core worldwide.

That a new U.S. Attorney General would become the first in history to openly declare moral hazard accelerated to moral failure was now protected. Jealously guarded via his “too big to be prosecuted” fiats, that set an elite group of individuals on a pedestal so far above rule of law and moral decency, as to become beyond the reach of the long arm of the law. Into a stratosphere of “untouchables”.

A new breed of gods holding life and death in their very hands, and conquering democracy to bend knees to these rulers of fate and finance. Alan Greenspan clearly did not envision such tyranny. Not only without criminal justice law applied, free also of clawbacking or disgorging the new rulers of pillaged spoils of an economic and unjust war.

      ** Consider this excerpt**

“Set aside the question of criminal prosecution. They haven’t even been forced to give up their bonuses or the salaries they got as a reward for putting together these ridiculous, and often corrupt, deals. They’ve been able to keep gains that were, by any measure , ill-gotten.”

In other words despite horrid losses of national and individual wealth, the victors did not suffer a scratch on their untouchable hides.

Mere wrist slaps some have used to describe it, as with chagrin admit there was no slap at all. Only an air slap that never connected, as the actors howled in faux pain to their peers. Playing the victims, as living the victors. Laughing all the way to the bank, without remorse for the blood, sweat, and tears of their victims.

The outrage cooled to apathy then at last a sad resignation inwardly. Because outwardly the national face saving mask of denial, refuses yet to admit defeat by so few with feet of clay.

Though this article, for a brief moment, dares to peek and share with their readers the view.

Well done by The New Yorker Magazine.

– Barbara Cochlin

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Enough Is Enough WHITE-COLLAR CRIMINALS: THEY LIE THEY CHEAT THEY STEAL AND THEY’VE BEEN GETTING AWAY WITH IT FOR TOO LONG – March 18, 2002

http://archive.fortune.com/magazines/fortune/fortune_archive/2002/03/18/319921/index.htm

This was published over 12 years ago. March of 2002 clearly defined Both the Problem AND The Solution.

Apparently, Enough was NOT Enough. 3,000 *more* families in Detroit having their water cut off. Every week!

People suicided in an epidemic of anguish over losing their retirement, homes, businesses.

And still our Government pursues the ***You Fraud ‘Em, We Fine You & Soak Taxpayers for 85 Billion a Month Scam***

Maybe tapered to 65 billion, who cares 500 more people a day in (1) one town alone can’t flush a toilet.

Or hoardes of former middle class are sleeping in their cars? So long as CEO’s can slink off with 83 million (stocks were so low probably trippled by now) just fine $10 million & stick the shareholders with their bill.

Toss a few million at charity & abracadabra they are clean hands.

Toss a few firebrand speeches villifying your political opponents & the masses rush to embrace, pay big bucks to hear more, wait in line hours to get a glimpse.

How utterly pathetic. From the war of 1998 when seniors were ripped off & the bankers did their own pic of capture (using Iwo Jima theme) in a revolting display of monomaniac victory celebration.
To right on through daily headlines, the honeymoon seems not to have slacked a bit.

Beyond public displays of affection, it is an even greater lust for bigger frauds, bigger fines, bigger burdens on the captives.

The silent coup, never was quiet. Only those in a position to prevent and later stop, chose selective memories. Willfull blindness. Purposely & profitably deaf.

Am I just being negative, trying to throw cold water of pessimism on our “recovery”?

No. I believe the road to prosperity and true freedom, real justice, and the end to this artificially created civil unrest and poverty is about as positive a road one could aim for.

For that, it is going to take a whole lot of people deserting the war of lies. And uniting to not save democracy, as the post study below states, that’s already gone. Replaced by oligarchy.

Now it’s time for the truth. Time to hold miscreants accountable.

Then again, maybe Enough is still Not Enough. We can’t fix a toxic mess by denying how it happened.

We can’t fix it, by denying it did happen. We can’t fix it by name calling, fighting, and hating each other more than we love our families futures that are on the line if we don’t get a grip.

Fraud & Fine doesn’t work. Fraud & Jail does. We need a chilling effect on this Bonfire of Vanity. Before we all get the water shut off, throw some cold water on these filthy pirates & throw em in the brigg.

      Anything less is collusion.
Mull that one over your Bourbon or latte. When IS enough already?

     When your beloved pet is
put down because you can’t afford your own groceries and rescue shelters are closed because can’t afford the water? When people jump the fences & kill for your well?

Not going to happen in America right? Go in the wrong zip code after dark. It already is happening.

  Because Enough is Not Enough.
                           Still.

– Barbara Cochlin

Risky Business: How the OCC Dropped the Ball

http://www.gpo.gov/fdsys/pkg/CHRG-106hhrg58493/html/CHRG-106hhrg58493.htm

” If an Op. Sub. is defrauding hundreds of elderly people and your rating is satisfactory, what do you have to do to get a bad grade?” ~1999 Question to OCC

“Enough is Enough. Send Them to Jail.” ~ Fortune Magazine Cover, March 2002. Article by Clifton Leaf.

“…banks are operating without meaningful law or enforcement.”
~2005 Letter to OCC

“And what will we tell them? Oops. Sorry. My bad. It’s Just sausage politics.” April 21st, 2006 Article published in Sebring News-Sun & Highlands Today

By 2006, Nobody would believe me that our economy was teetering on the edge. That it was brewing since the War of 1998, and without quick action, we would have a lot of explaining to do to our next generation.

When I wrote “Oops? Sausage Politics”, people asked me “What in the H E Double L were you talking about? Corporations running the Country, spying on boring citizens and a Government putting toxic stuff in Politics that is going to make the next generation outraged? You are so full of BS!!! Shut up already, I’m doing better than any generation and the kids are going to have it made in the shade!”

“Just put it in a drawer someplace. When the money storm hits you, don’t say I didn’t warn you to be prepared” I answered, not real happy I had to do it.

Up to that point, I had only written three letters to the editor in my life. The first I don’t remember why. The second filled up my answering machine, lit up in messages with positive words of encouragement and thanks from complete strangers. The third was about an attack article that the reporter said he wasn’t going to do a battle of wits with me because I was unarmed.

Not that I had to defend against that, probably agreed even, but I needed it clear I was not in any way disrespecting law enforcement.

So media controversy is not something I had or have interest in. It is just I had a nine year study in progress, and if my article helped one person save their hard earned assets I had to try.

Shortly after, Sheriff busted up a *house jacking ring* that as I recall was about 31 properties. Did I help screaming “The sky is falling!” like Chicken Little, or just “threw” my “life with so much potential” away as some well meaning or just mean people enjoy pointing out?

I don’t care. Sometimes, just going along to get along is as evil as the bad guys. My career and life plan, didn’t have a section on what to do if a few crazy bankers pull a coup and capture the country. Sorry, it just really wasn’t on my radar screen in 1997. Apparently, from the above hearing it wasn’t on the OCC’s either if they were accused of dropping the ball in the first quarter.

But dang….still fumbling 6 years later & refuse to let second string states in your game?

They do know a lot of people died or ended up on the streets over this, right?

True perhaps, but a lot of other people got mansions, yachts, and private jets over it so I guess the whole thing balanced out.

Winner takes all I guess in this game. Why do I just feel that the current recovery is more like the “eye” of the $$$ hurricane? Maybe, because the “forecasters” were wrong before. Or lied before.

After all, if all those big shots have been innocent of wrongdoing and it was just a case of “Sh$t Happens”, then Sh$t Can Happen Again. Anytime. Anyplace. And for No Reason.

I rather believe, the Reason, is pretty well crystal clearly discussed in the 1999 transcript.

– Barbara Cochlin