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The Usual Suspects: The Masters of the Universe
"For what does it profit a man who gains the world and forfeits his soul?"
More than four years have passed since the “The Great American Bank Robbery” aka Financial Meltdown brought us to economic instability only overshadowed by the Great Depression.  What saved us from the plunge into financial Armageddon was the largest act of government interference into privately held financial institutions.  As we teetered on the edge of the abyss, the Masters of the Universe continued on with the great fraud - stealing, lying, denying and refusing to accept responsibility for their actions.  

The posturing and condescending attitude exhibited by these Masters of the Universe was so extreme, that one could only laugh.  To imply that mere mortals or the 99% were incapable of understanding the complexity of the market only served to further enrage an already angry public.  As Obama said, “I’m, the only one between you and the pitchforks”.  We, the mere mortals, certainly understand that if you put shit in a box, wrap it up real pretty, put a big elaborate bow on it, at the end of the day, it still is shit.

Let’s not delude ourselves, we know exactly what type of individuals we are dealing with.  They are devoid of character, lack conviction and if I were a believer, I would guess their moral compass points straight to hell. The magnitude of their arrogance left the public with no illusion about what motivated them.  Sheer greed, ambition and entitlement drove them to act with such recklessness, committing financial crimes of such great proportion that nations were almost destroyed. The world is still reeling the impact from their crimes.

Rather than punishing the architects of this fraud, they have been rewarded financially with taxpayers’ money.  While their victims became homeless and lost their hard earned savings, they were enlisted finding solutions to ensure “never again”.  The obscenity of the situation parallels the enlisting of con-men to prevent fraud.  

Hank Paulson, Tim Geithner, and Larry Summers, all card carrying members of the club.  In addition, they personally and directly metabolized the catalyst that set off a chain reaction leading to global economic failure. Robert Rubin, Alan Greenspan and Larry Summers, all attempted to use their extensive power to prevent Brooksley Born from instituting controls on the OTC derivative market in the late nineties.  Rather than be run out of town on a rail, or made to walk the plank, they were rewarded with positions of pervasive power. What galls me the most is to have someone like Lloyd Bankfein re-enact his own personal "Carrie" adolescent revenge plot on all he feels have mocked him; and as growing up I would surmise this was a common event, and then claim he is doing "God's work".

This leads me with no other conclusion than the government itself is as broken and dysfunctional as those who lead to the crisis itself.  This was not a mistake, lapse in judgment or miscalculation, but was implemented with intent, forethought, deliberation and premeditation.  I also can no longer excuse the actions or lack thereof, the President – Barack Obama.  The failure to lay criminal charges or secure convictions arising from the meltdown is not resultant of weak leadership, the obstructionist GOP nor the enormity and cost of prosecution.  It too is an intentional and premeditated act executed from the Oval Office with forethought and deliberation.  We speak of individual, corporate and state financial bankruptcy with increasing concern and fear, yet what we fail to realize is the entire political process already is morally bankrupt.

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Comment Preferences

  •  Tip Jar (21+ / 0-)

    Canadian mother of four, works at Canadian University, blogs and co-host of Blog Talk Radio's "Lies My Country Told Me" with co-host and love of my life, Fred Lemon.

    by mmayer on Sat Apr 06, 2013 at 09:54:31 PM PDT

  •  I will never forgive Paulson... (17+ / 0-)

    ...for his two page ransom note to Congress in September, 2008:

    Give us all your fucking money or we blow up the fucking economy, motherfuckers.
    Seriously, that's about all it was.

    And then the motherfuckers blew up the economy anyway.  

    Don't even get me talking about O's financial adviser appointments at the beginning of his first administration or I'll spit a tooth.

    "Mitt who? That's an odd name. Like an oven mitt, you mean? Oh, yeah, I've got one of those. Used it at the Atlas Society BBQ last summer when I was flipping ribs."

    by Richard Cranium on Sat Apr 06, 2013 at 10:03:16 PM PDT

  •  This is way above any President (8+ / 0-)

    In fact, in 2008, both Bush and Obama were totally clueless about what was about to happen -- or what to do about it when it did. They both maintained economic advisers who were members of the corrupt finance cartel. So will the next president; and the next. None of this originates in the Oval office.

    Other than the shallow blame, this is a pretty good description of the American financial sector, which operates at the federal level. There is nothing unconstitutional about it.

    I suppose if the US political system really worked at this level, the nation's leaders would be frank about it -- as the Prime Minister of Luxembourg, Jean-Claude Juncker was when he remarked:

    “We all know what to do, we just don’t know how to get re-elected after we’ve done it.”

    Denial is a drug.

    by Pluto on Sat Apr 06, 2013 at 11:42:01 PM PDT

  •  Too Big To Jail (12+ / 0-)

    It's not true.  Jailing one executive in a company, or even a dozen, does not take down the company.  There are plenty of honest brokers who could take their place.

    The excuse given to us is a lie.  It is just a flat out lie coming from the mouths of Lanny Breuer and Eric Holder.  

    These fraudsters can be prosecuted and others can take their place.  Banks can be split up into manageable sized banks.  All of this is possible and in fact the beginning of the solution to the problem.

    The problem right now, an even bigger problem than the criminal institutions is the criminal executive branch who refuse to enforce the law.

    "Justice is a commodity"

    by joanneleon on Sat Apr 06, 2013 at 11:42:53 PM PDT

    •  In fact, from the people that I have spoken with - (5+ / 0-)

      friends that work at these big companies - I have come to realize that many of these people with the really big bonuses do not have the role that many of us imagine.  These pampered little princes of Wall Street are indeed highly overrated.  

      Although there was a great deal of deregulation, I have believed all along that this crew could be prosecuted under RICO.  I think a conspiracy to defraud could be proven.  The best part - RICO comes with a big "clawback".

      It gets on my nerves, and you know how I am about my nerves...

      by ciganka on Sun Apr 07, 2013 at 05:35:15 AM PDT

      [ Parent ]

    •  Continental Illinois (0+ / 0-)

      The figures looked more or less human. And they were engaged in religion. You could tell by the knives (it's not murder if you do it for a god).” ― Terry Pratchett, Small Gods

      by Bozmo2 on Sun Apr 07, 2013 at 06:39:27 PM PDT

      [ Parent ]

  •  nmayer - I too think they should have (2+ / 0-)
    Recommended by:
    Shockwave, Don midwest

    been made to walk the plant.

    But I am not sure exactly what that means.

    "let's talk about that"

    by VClib on Sat Apr 06, 2013 at 11:48:31 PM PDT

  •  Bush was asleep at the wheel at best (4+ / 0-)

    Bush ‘Ignored Remarkably Prescient Warnings That Foretold The Financial Meltdown’

    “In hindsight, it was spot on,” but “people kind of looked at us regulators as old-fashioned,” said Jeffrey Brown, a former top official at the Office of Comptroller of the Currency. Indeed, the administration “trusted market forces and discounted the value of government intervention in the economy,” thus dismissing the proposed regulations.
    In September 2006, almost two years after regulators put forth the above list, the Bush administration finally got around to issuing its Guidance on Nontraditional Mortgages. However, the “guidance” was simply a list of suggestions and not a ban of worst practices.
    Yes Bush/Cheney did nothing to prevent the meltdown that many had foreseen.

    But were were the Dems?  Did any say anything in 2005, 2006, 2007?  Just asking.

    It seems that we are owned by a bunch of corrupt and greedy Wall Street types.  OWS was a beginning.  I don't see anything else as useful.

    Daily Kos an oasis of truth. Truth that leads to action.

    by Shockwave on Sun Apr 07, 2013 at 01:28:03 AM PDT

  •  the gift of the obama administration (4+ / 0-)
    Recommended by:
    native, vigilant meerkat, mmayer, ciganka

    Dems took control of the congress and the white house in 2008.  After 8 long years of Bush we were promised CHANGE.

    It didn't happen.  Making one thing very clear.

    "the entire political process already is morally bankrupt

    I don't see how anyone can fail to realize that at this point. I was blind to it during the Bush years thinking he was the problem. The Obama administration and democrats in the Senate woke me up to reality.  And while reality sucks in this case,  I prefer being aware of it to living in some delusional world where corporate owned democrats are the good guys and republicans are to blame for everything.  

    •  the gift of the obama administration (0+ / 0-)

      I was all about that hopey and changey thing, what a rude awakening.  I also prefer to live in reality, opposed to the dream world.  At some point, probably around NDAA legislation and the knowledge that he had tried to in 2009 push through similar legislation all while threatening to veto it, did it for me.  I came to the realization that Obama is much more dangerous than a Mitt.  He is very, very smart and he has the ability to connect with the people.  The result is another four years of Obama (not that i am advocating or even promoting Mitt).  It isn't the candidates that have to change, it is the populace that has to change.  We need to make them afraid of us again, I think they forgot.

      Canadian mother of four, works at Canadian University, blogs and co-host of Blog Talk Radio's "Lies My Country Told Me" with co-host and love of my life, Fred Lemon.

      by mmayer on Sun Apr 07, 2013 at 05:46:13 PM PDT

      [ Parent ]

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