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Looting Main Street

 
GlassPearls
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User ID: 613866
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04/06/2010 09:23 AM
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Looting Main Street
[link to www.blacklistednews.com]

"How the nation's biggest banks are ripping off American cities with the same predatory deals that brought down Greece

...

In a complete subversion of free-market principles, they take no risk, score deals based on political influence rather than competition, keep consumers in the dark — and walk away with big money. "It's not high finance," says Taylor, the former bond regulator. "It's low finance." And even if the regulators manage to catch up with them billions of dollars later, the banks just pay a small fine and move on to the next scam. This isn't capitalism. It's nomadic thievery."
Winningjob

User ID: 385114
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04/06/2010 09:24 AM
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Re: Looting Main Street



[link to video.godlikeproductions.com]

Last Edited by Winningjob on 04/06/2010 09:25 AM
snarkModerator
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04/08/2010 04:53 PM

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Re: Looting Main Street
Matt Taibbi nails it again.

Read the whole article in Rolling Stone...

[link to www.rollingstone.com]
T For Texas, T For Tennessee!


The virtue of courage is a prerequisite for the practice of all other virtues, because otherwise one is virtuous only when virtue has no cost. There are times when something needs to be done, and yet we know that if we step up and do this needful thing, we will pay a heavy personal price. -C.S. Lewis
Anonymous Coward
User ID: 937708
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04/08/2010 04:58 PM
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Re: Looting Main Street
Really GLP?

Thread: Looting Main Street

wtf

rant
theGrandSmithWizard

User ID: 937873
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04/08/2010 05:05 PM
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Re: Looting Main Street
on the other side of the coin:
[link to pajamasmedia.com]

burnit

Matt Taibbi nails it again.

Read the whole article in Rolling Stone...

[link to www.rollingstone.com]
 Quoting: snark

We get the powers over us that we've earned collectively. Humanity, as a whole, is self-interested, shallow, ignorant, violent and immoral; small wonder, therefore, that our leaders (secret or otherwise) reflect that. You want better leaders, become better people.
Southern Biker

User ID: 938011
United States
04/08/2010 05:06 PM
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Re: Looting Main Street
bump
Pay no attention to the man behind the curtain.(Wizard of Oz).
Anonymous Coward
User ID: 916883
United States
04/08/2010 05:09 PM
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Re: Looting Main Street
[link to www.blacklistednews.com]

"How the nation's biggest banks are ripping off American cities with the same predatory deals that brought down Greece

...

In a complete subversion of free-market principles, they take no risk, score deals based on political influence rather than competition, keep consumers in the dark — and walk away with big money. "It's not high finance," says Taylor, the former bond regulator. "It's low finance." And even if the regulators manage to catch up with them billions of dollars later, the banks just pay a small fine and move on to the next scam. This isn't capitalism. It's nomadic thievery."

 Quoting: GlassPearls



No surprise here - Wall Street is the biggest band of thieves and thugs in the world. And supported by the government.

Corporate Fascism is here to stay unless we manage to get rid of all the Republicans and Democrats.

Of course free elections are also a thing of the past now that DIEbold owns all the electronic voting machines...
Anonymous Coward
User ID: 894431
United States
04/08/2010 05:12 PM
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Re: Looting Main Street
 Quoting: Winningjob

Love that song!
Anonymous Coward
User ID: 701285
United States
04/08/2010 05:14 PM
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Re: Looting Main Street
"What happened here in Jefferson County would turn out to be the perfect metaphor for the peculiar alchemy of modern oligarchical capitalism: A mob of corrupt local officials and morally absent financiers got together to build a giant device that converted human shit into billions of dollars of profit for Wall Street"

lol
Returner
User ID: 997
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04/08/2010 05:15 PM
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Re: Looting Main Street
Matt is dead on with his reporting.

And it won't change a damned thing.

They just got done buttfucking us, and before we even get our pants pulled back up they're at it again.
DEATH BY 1'000 CUTS

User ID: 937744
Mexico
04/08/2010 05:23 PM
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Re: Looting Main Street
Its the same fucking families thieving everywhere across the universe: ZIONOIST ROTHCHILDS and their minions, the Rockerfellers, and other Bilderbergers to avoid the names of the Royal Family of England to be tarnished.

5a

How deep is the rabbit hole?
Call a spade, a spade. It's the only way the Zionist NWO can be defeated. Stop lying. Do not accept any lies, rather, expose them.

This idea that people native to the Southwest are considered illegal aliens in their ancestral lands is indicative of a general inability on the part of White Europeans to be honest with themselves or anyone else. It reminds me of when Bush was calling Iraqis resisting the American occupation as insurgents. It's a Zionist thing, really, turning the truth around in such a pretzel it's hard to determine.

These people are Americans, just like you, fucking worthless inbred incestuous Rednecks, who rally against their quest for the American dream of prosperity.
I've live here in this same house for 20 years, I've had to endure and finally run out several Redneck White-trash families from the house next door by making life unbearable for them. They literally through beer bottles over the fence, their children shit tore down the fence and in my yard, begged for food and drinks, and even stole from my refigerator. I did not find peace with my neighbors until a family of Mexicans bought the house, and although they don't speak english well , they certainly have been much better nieghbors.
The bottom line is it's the same people rallying against Mexicans that love to hate Indians, Palestinians and anyone else unlucky enough to not be the same color as them and go to the same bullshit church, anyone who happens to be successfully competing with them for the same slice of americana. I say if you think you can't compete with a Mexican, who happens to be American the last time I looked at a fucking globe, get the fuck out. Quit fucking whining. You can't do a goddamned thing about it anyway, there are simply too many Americans who happen not to have been born in the United States. Borders are NOT permanent.
aVian

User ID: 903212
United States
04/08/2010 05:32 PM
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Re: Looting Main Street
we decided today to not pay our commercial mortgage.


we will try to short sell and negotiate debt settlement

we have the cash

the banks have the note

we have the leverage

my home is safe

lets play ball
"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."
- Frédéric Bastiat

food, water, ammo, weapons, battery back up solar, hand well pump, wood stove and 1 year of food...oh yeah PM's too...good luck
Anonymous Coward
User ID: 896034
United States
04/08/2010 05:37 PM
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Re: Looting Main Street
we decided today to not pay our commercial mortgage.


we will try to short sell and negotiate debt settlement

we have the cash

the banks have the note

we have the leverage

my home is safe

lets play ball
 Quoting: aVian

good luck! i got no respect for these theiving banking families.
Anonymous Coward
User ID: 938048
United States
04/08/2010 05:45 PM
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Re: Looting Main Street
No surprise here - Wall Street is the biggest band of thieves and thugs in the world. And supported by the government.

Corporate Fascism is here to stay unless we manage to get rid of all the Republicans and Democrats.

Of course free elections are also a thing of the past now that DIEbold owns all the electronic voting machines...
 Quoting: Anonymous Coward 916883


Actually, I'd keep about half the Repubs- the ones who voted FOR us and AGAINST the Wall Street bailouts, even under Bush!

It took a LOT of integrity and guts to cast those votes when every f*cking Democrat and half the rest of the Repubs were voting for Bailouts.

When the Government goes rogue against you, you better keep the few honest ones who are on your side!

If you have a Repub rep., CHECK HOW THEY VOTED on all the Bailouts since '07.

If they voted against them- KEEP THAT REP!!

If you've got a Dem rep., vote the bastard out. Kaptur and Defazio are the only ones who voted for you. The rest are Wall Street Pigs.
Matrix
User ID: 934654
Australia
04/08/2010 05:47 PM
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Re: Looting Main Street
Banking and finance has become like gambling; the creditor/debtor takes all the risks and the house always wins! Idol1
Anonymous Coward
User ID: 875582
United States
04/08/2010 05:53 PM
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Re: Looting Main Street
Actually, I'd keep about half the Repubs- the ones who voted FOR us and AGAINST the Wall Street bailouts, even under Bush!

It took a LOT of integrity and guts to cast those votes when every f*cking Democrat and half the rest of the Repubs were voting for Bailouts.

When the Government goes rogue against you, you better keep the few honest ones who are on your side!

If you have a Repub rep., CHECK HOW THEY VOTED on all the Bailouts since '07.

If they voted against them- KEEP THAT REP!!

If you've got a Dem rep., vote the bastard out. Kaptur and Defazio are the only ones who voted for you. The rest are Wall Street Pigs.
 Quoting: Anonymous Coward 938048


There are members of both parties who voted no...

Heroic US Congressmen Who Voted NO To 'Bailout'
[link to www.seektress.com]
Anonymous Coward
User ID: 938069
United States
04/08/2010 06:05 PM
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Re: Looting Main Street


[link to video.godlikeproductions.com]

Government Bailouts

[link to www.youtube.com]
Don Francesco of Madrid
User ID: 938074
United States
04/08/2010 06:09 PM
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Re: Looting Main Street
Just bought another ounce of gold. And built a raised garden.
And practicing with my rifle.
Anonymous Coward
User ID: 938121
United States
04/08/2010 06:55 PM
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Re: Looting Main Street
Here's the thing with the whole Jefferson county Alabama sewer bond debacle......

Everyone is focused on the Second part of the story-the interest rate swap. But the most important piece is the First part of the story - just why did they get interested in the swap in the first place? Because they were being bancrupted by an order of the US federal court and environmental regulations.

Jefferson county For Jefferson County, had been ordered by a federal court to make significant upgrades to their sewer system to comply with environmental standards. As a result, there has been a 3-fold increase in sewer rates over the last 10 years. In fact, the sewer system became highly leveraged in an attempt to spread out construction costs over time, which in turn would prevent the pain (and political embarrassment) of even larger rate increases.

So they had this huge mountain of floating rate debt, courtesy if the Feds.

THAT is why they are in trouble. The Swap is the least of their worries. The big problem is the mountain of debt the swap is written against.

And, as usual, it is the long arm of the Federal government that is the real culprit.
Anonymous Coward
User ID: 938121
United States
04/08/2010 06:55 PM
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Re: Looting Main Street
Here's the thing with the whole Jefferson county Alabama sewer bond debacle......

Everyone is focused on the Second part of the story-the interest rate swap. But the most important piece is the First part of the story - just why did they get interested in the swap in the first place? Because they were being bancrupted by an order of the US federal court and environmental regulations.

Jefferson county For Jefferson County, had been ordered by a federal court to make significant upgrades to their sewer system to comply with environmental standards. As a result, there has been a 3-fold increase in sewer rates over the last 10 years. In fact, the sewer system became highly leveraged in an attempt to spread out construction costs over time, which in turn would prevent the pain (and political embarrassment) of even larger rate increases.

So they had this huge mountain of floating rate debt, courtesy if the Feds.

THAT is why they are in trouble. The Swap is the least of their worries. The big problem is the mountain of debt the swap is written against.

And, as usual, it is the long arm of the Federal government that is the real culprit.
Anonymous Coward
User ID: 937887
United States
04/08/2010 07:08 PM
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Re: Looting Main Street
whats wrong that the fed prints up trillions upon trillions and gives it to thier friends the insider big banksters. And then holds countrys liable for payment. Whats wrong with that.
GlassPearls  (OP)

User ID: 613866
United States
04/08/2010 07:26 PM
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Re: Looting Main Street
 Quoting: Anonymous Coward 937708

Sorry. I routinely do a keyword search before I post an article and I did not recall seeing you had posted it earlier. Could be a function of the search engine, not sure.
But I at least do check first.
Anonymous Coward
User ID: 792499
United States
04/08/2010 07:33 PM
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Re: Looting Main Street
And, as usual, it is the long arm of the Federal government that is the real culprit.
 Quoting: Anonymous Coward 938121

Corporatocracy...
The banksters run the gov't.
GlassPearls  (OP)

User ID: 613866
United States
04/08/2010 07:45 PM
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Re: Looting Main Street
And, as usual, it is the long arm of the Federal government that is the real culprit.

Corporatocracy...
The banksters run the gov't.
 Quoting: Anonymous Coward 792499

Ever wonder how? Why that is?

Check out this thread: Thread: The US Constitution DOES NOT APPLY to you!

In that thread, I posted a link to a PDF that lays out the how and why quite well.

If you've never been exposed to this material, it will shock and offend you. Or at least, should.
snarkModerator
Forum Administrator

User ID: 790439
United States
04/08/2010 08:44 PM

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Re: Looting Main Street
Here's the thing with the whole Jefferson county Alabama sewer bond debacle......

Everyone is focused on the Second part of the story-the interest rate swap. But the most important piece is the First part of the story - just why did they get interested in the swap in the first place? Because they were being bancrupted by an order of the US federal court and environmental regulations.

Jefferson county For Jefferson County, had been ordered by a federal court to make significant upgrades to their sewer system to comply with environmental standards. As a result, there has been a 3-fold increase in sewer rates over the last 10 years. In fact, the sewer system became highly leveraged in an attempt to spread out construction costs over time, which in turn would prevent the pain (and political embarrassment) of even larger rate increases.

So they had this huge mountain of floating rate debt, courtesy if the Feds.

THAT is why they are in trouble. The Swap is the least of their worries. The big problem is the mountain of debt the swap is written against.

And, as usual, it is the long arm of the Federal government that is the real culprit.
 Quoting: Anonymous Coward 938121

+1000000000000000
Read the article about the insane sewer system they were forced to build.
T For Texas, T For Tennessee!


The virtue of courage is a prerequisite for the practice of all other virtues, because otherwise one is virtuous only when virtue has no cost. There are times when something needs to be done, and yet we know that if we step up and do this needful thing, we will pay a heavy personal price. -C.S. Lewis
Anonymous Coward
User ID: 937887
United States
04/08/2010 08:53 PM
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Re: Looting Main Street
And, as usual, it is the long arm of the Federal government that is the real culprit.

Corporatocracy...
The banksters run the gov't.

Ever wonder how? Why that is?

Check out this thread: Thread: The US Constitution DOES NOT APPLY to you!

In that thread, I posted a link to a PDF that lays out the how and why quite well.

If you've never been exposed to this material, it will shock and offend you. Or at least, should.
 Quoting: GlassPearls


Just my guess without reading the pdf file. But the bankstsers get control by buying politicans and then contructing a system of govemrent and rules where they control everything.
Anonymous Coward
User ID: 937887
United States
04/08/2010 08:54 PM
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Re: Looting Main Street
And, as usual, it is the long arm of the Federal government that is the real culprit.

Corporatocracy...
The banksters run the gov't.

Ever wonder how? Why that is?

Check out this thread: Thread: The US Constitution DOES NOT APPLY to you!

In that thread, I posted a link to a PDF that lays out the how and why quite well.

If you've never been exposed to this material, it will shock and offend you. Or at least, should.


Just my guess without reading the pdf file. But the bankstsers get control by buying politicans and then contructing a system of govemrent and rules where they control everything.
 Quoting: Anonymous Coward 937887


First thing you've got to do though is buy off the media.

The first thing your supposed to do if you take over a country or whatever is take over the media systems to relay your information on the sheeple.
Seamus

User ID: 854278
United States
04/08/2010 10:14 PM
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Re: Looting Main Street
Actually, I'd keep about half the Repubs- the ones who voted FOR us and AGAINST the Wall Street bailouts, even under Bush!

It took a LOT of integrity and guts to cast those votes when every f*cking Democrat and half the rest of the Repubs were voting for Bailouts.

When the Government goes rogue against you, you better keep the few honest ones who are on your side!

If you have a Repub rep., CHECK HOW THEY VOTED on all the Bailouts since '07.

If they voted against them- KEEP THAT REP!!

If you've got a Dem rep., vote the bastard out. Kaptur and Defazio are the only ones who voted for you. The rest are Wall Street Pigs.


There are members of both parties who voted no...

Heroic US Congressmen Who Voted NO To 'Bailout'
[link to www.seektress.com]

 Quoting: Anonymous Coward 875582



This is a good reference, but this is only ONE bailout bill (the first, I think; the one that was Georgie's gift to the banksters). Check if these same politicians had the guts to vote NO on B HObama's bailouts. If they voted Yes on one, they are no good. And I noticed some of these democrats on this list above voted YES on Obama care. Dirty deeds.....
'When Plunder becomes a way of life for a group of men,
they create for themselves, in the course of time,
a legal system that authorizes it and a moral code that glorifies it.'
Frederic Bastiat, 'The Law'
1850

++++++++++++++++++++++++++
"The business of the journalists is to destroy the truth, to lie outright, to pervert, to vilify, to fawn at the feet of mammon, and to sell his country and his race for his daily bread. You know it and I know it, and what folly is this toasting an independent press? We are the tools and vassals of rich men behind the scenes. We are the jumping jacks, they pull the strings and we dance. Our talents, our possibilities and our lives are all the property of other men. We are intellectual prostitutes."
JohnSwinton, 1830-1901, Former chief-of-staff New York Times
++++++++++++++++++++++++++

"The bold effort the present bank has made to control the Government, the distress it has wantonly produced ... are but premonitions of the fate that awaits the American People should they be deluded into a perpetuation of this institution (The Bank of the United States), or the establishment of another like it." Andrew Jackson (December 2, 1834)
GlassPearls  (OP)

User ID: 613866
United States
04/08/2010 11:50 PM
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Re: Looting Main Street
Just my guess without reading the pdf file. But the bankstsers get control by buying politicans and then contructing a system of govemrent and rules where they control everything.
 Quoting: Anonymous Coward 937887

It's not the 'what', which you just described, rather the 'how'.
Anonymous Coward
User ID: 932587
United States
04/09/2010 12:09 AM
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Re: Looting Main Street
we decided today to not pay our commercial mortgage.


we will try to short sell and negotiate debt settlement

we have the cash

the banks have the note

we have the leverage

my home is safe

lets play ball
 Quoting: aVian

those ticks will die without blood. dont give it to them!
Texas Uncensored

User ID: 938209
United States
04/09/2010 12:31 AM
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Re: Looting Main Street
Whoa.......Great article. Very savvy. Nailed it.





GLP