It is a global skimming off the top by the banksters. It is one of the myriad number of illegal, systemic thefts from your pocket to theirs. It helps to fund a world-wide slide down into neo-feudalism, and this, in its entirety, most definitely kills millions a year.

This is the financial mega-scandal of the century!!!!!

This should completely eradicate any and all lingering doubts that it is long past time that we bust up the banks!!!!

Let's get started by reinstating Glass-Steagull!

Unfortunately, the US, along the it's master, The City of London, is the very epicenter of the viper pit.

I've come to see Wall Street as a mere outpost of the CoL.

he put over 1,000 banksters in prison for the S&L savings debacle

Bill Black: Our System is So Flawed That Fraud is Mathematically Guaranteed

Bill Black is a former bank regulator who played a central role in prosecuting the corruption responsible for the S&L crisis of the late 1980s. He is one of America's top experts on financial fraud. And he laments that the US has descended into a type of crony capitalism that makes continued fraud a virtual certainty - while increasingly neutering the safeguards intended to prevent and punish such abuse.

In this extensive interview, Bill explains why financial fraud is the most damaging type of fraud and also the hardest to prosecute. He also details how, through crony capitalism, it has become much more prevalent in our markets and political system.

A warning: there's much revealed in this interview to make your blood boil. For example: the Office of Threat Supervision. In the aftermath of the S&L crisis, this office brought 3,000 administration enforcements actions (a.k.a. lawsuits) against identified perpetrators. In a number of cases, they clawed back the funds and profits that the convicted parties had fraudulently obtained.

Flash forward to the 2008 credit crisis, in which just the related household sector losses alone were over 70x greater than those seen during the entire S&L debacle. So how many criminal referrals did the same agency, the Office of Threat Supervision, make?

Zero.

Similar dismal action was taken by such other financial regulators as the Office of the Comptroller of the Currency, the Federal reserve and the FDIC.

Where is the accountability?, you may be asking. Or perhaps, how did we allow things to get this bad?

More re William K. Black's biography
http://en.wikipedia.org/wiki/William_K._Black

Signed agreement stating DoJ will not prosecute Barclay's criminally for LIBOR manipulation, LIEBORGATE








http://www.corporatecrimereporter.com/documents/Barclaysagreement.pdf


If that doesn't get your goat you an't paying attention.

What a fucking JOKE.

Holder the HERO!!!!!!!!!!!