Fascinating in every way.
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good watch… slow day john? lots of posts today
If this is anything like her views on the Swine Flu, Alfie is gonna lose his heart for sure.
Hee, hee.
As Alfie would say if he disagreed with her: “A nutbag of the first order.” Solid Bush the Elder political appointee in HUD before she went totally off the rails. Hmmmm. Do I really need a sound card?
Good stuff over all. Her “fraudulent” mortgages issue is tripe. There’s no way a mortgage broker or bank lending officer can know the “big picture” stuff like that.
#3 she is not referring to the local stooge, but the corporate bosses. Thus Goldman was huge into the Credit Default Swaps while selling bad paper which would result in huge CDS profits. Pretty good scheme.
John. Yes, I understand that… but that would be impossible to track and, in order to be fraudulent, the bosses would have to know the details of each mortgage. If the guy worked for a muffler shop instead of a software company it would be moot. Doesn’t hold up.
McCain could have picked her for VP – instead he pick Sarah…
She has a good argument, but takes it too far in saying the corporate moguls “deliberately imploded the US economy.” I do think our undoing is more innocent than that: simple greed explains it all. In the main all these actors mostly recognized is how rich they could personally get before the house of cards would collapse. How, when, with what impact the collapse would occur was not on their radar as it would interfere with how rich they could get.
This is what capitalism is. So far, no harm, no foul.
No, the real “evil” comes with the lack of regulatory review/alarm, the fraud of the rating agencies, the fraud of the zero income home loans cumulating in the no harm/no change bailouts.
Where were the haircuts that should have still bankrupted the weakest of the Banks AFTER bailouts to save the healthiest were given? Where are the loans and buyins if not nationalisation until paid back reorganizations? Where was the restructure or go bankrupt requirements?
And where still TODAY are the criminal prosecutions for all the FRAUD that obviously took place? Even a greedy CEO is allowed to be only so stupid. Its Obama’s “don’t rock the boat” personality on full display.
You know, crime unpunished is crime encouraged. THAT is the rot at rotten cultures. Sad to see it in full stink in the GOUSA.
Thanks John. Great video. I will be passing it around.
My iphone can’t view any of the YouTube videos posted on the site, since the new frame has been used. This wouldn’t be a problem if a link was posted, thank you.
[That's strange. My iPad shows the videos. I have OS 4.1.2 - ed.]
Fraudulent Inducement – Class action or ?
Now we know why, among other reasons, Supreme Court seats are so critical to control..
Good video. There have been way to many mergers within the banking industry. They should have never been allowed and many organizations should have been broken up during the last shake out.
If a financial institution is to big to fail the parts we made of it when we bail it out should not be.
How much faith can you put in the economic meanderings of a 9/11 Truther as she spouts on PrisonPlanet?
This lady needs to look up the definition of facism. She see corporate control…Facism is a governmental system led by a dictator having complete power, forcibly suppressing opposition and criticism, regimenting all industry, commerce, etc., and emphasizing an aggressive nationalism.
It doesn’t matter anyway, comrades. Socialism is the flavor of the day. Next will be government by by and for the Muslems; they have the population.
One thing is right…
ALL HAIL!
That dog don’t hunt.
The GATT comment at 26 mins. an extremely important key point that should scare us all – besides the obvious on the fiscal policies.
This is a really big thing to get onto a blog, but a few min in I’m very impressed.
Going by time: 06:00 ‘individual lenders and borrowers can use already existing local institutions to broker agreements that are more beneficial to all.’
Very true. The sheer scale and specialization in, sometimes marginally useful, trades is demonstrably not stable or beneficial to society. It would be better for more local institutions to spread not only the risk, but the burden of managing these agreements.
7-10m, and maybe further, TAPEWORM ECONOMY:
I agree with this in theory, but she is very dodgy on her timelines(around 10:00). The bank hookups happened in the “last 2 years, due to bad paper issued in the 1990′s.” That is a bogus, and obviously political reading of history.
The really criminal stuff in the mortgage industry really took off ’03-’04. I’m willing to shave that a year or two on either side for someone that knows more.
Sub-prime loans and the synthetic products they were put into didn’t last 10+ years. The whole issue was that these people couldn’t pay at at all, not that they got bumped from well paying jobs they had at the time the loans were issued.
By 15:00 this is turning into Republican drivel. I am getting disappointed.
My read on the 1990′s was that by paying down debt and dropping interest rates the fed/fed gov coerced big money to get out of the shallow end of the pool. Once big money caught the scent of unlimited returns in technology it jumped in with abandon. Several years later it realized why only the safest corp and gov’t bonds had been the plan for so many years.
17:00 “They encouraged them to take on this debt, while engineering the policies to ensure that their incomes would fall”
That’s crap. Freshman college students at expensive schools have always been the credit card companies top targets. You give them the money because you KNOW they can’t pay it back on time, but someone else will. It is like the mob, but legal.
I’m reminded of a scene in the classic movie “Sneakers”
Robert Redford asks ‘So you went to work for organized crime?’
Ben Kingsley replies ‘Don’t kid yourself, it isn’t that organized.’
19:00 ‘If I have a greater understanding of the global economy than you, and I sell you a deal that isn’t necessarily in your best interest based on future international capital/labor flows which could harm you, that is illegal.’
Good luck with that in court.
20:00-23:00
‘Two choices: automatically shutting off the flow of illegal drugs into this country or taking the proceeds of the illegal drugs out of the system and crashing the banking system.’
Crap. You can’t stop it because a significant minority of citizens choose to consume, and the profit margins for delivering those goods are astronomical. Since she is ostensibly talking about centralization and the power of decentralization this should be right in her wheelhouse. Big truth: you can’t stop a huge number of people who are determined to do something. She misses the point entirely.
#2 That’s Tea Party decentralization free market talking…odd you progressives think she is supporting statism.
28:00 ‘Controlling an important natural resource is helpful\necessary for maintaining a global benchmark currency…’
Obviously!
“…one of my questions is: is control of the food supply part of implementing a global digital currency?”
What the hell? That has nothing to do with anything that she has been talking about. Then it breaks for a second, like you should think on the cogent point she made.