Sep 27, 2008

The Pyramids The Capunist are Building

There are "one million" millions in one trillion!!!
Now we are talking serious cake.

With the Meltdown on Wall Street.
[otherwise used only pertaining to Nuclear]

The Banks did what all Banks do. Aggressively,Make a Profit!

They Shorted the cash their customers gave them, then loaned out long term loans.[Mortgages]
Unfortunately, instead of lending $9 for every dollar on their books,which has long been accepted practice.
After de-regulating all common sense out of a true capitalism.They lent out $99 for every dollar the customer gave them in good faith.
Like a gambler at a roulette table the house always wins in the end....
But this is how the bank loses,
it loses your cash not its' own.

From Truthout.com
For example, in 2006, Goldman Sachs had a banner profit year and the average bonus for its 25,000 employees was $650,000. But most of this money was paid to those at the top, with key traders taking home $50 million. Everyone knew that such risk-taking would eventually lead to disaster when markets turned down, but they would not have to give back the big bonuses from the boom.

So when just 5% of the loans got in trouble, the banks cannot cover the loss, and do the Americian thing, go bankrupt, and start over.
We no longer have a Market Capitalism working within and for a Democracy in this Country.
With Globalization we have entities that have no respect or regard for the government or responsibility to anyone but the top tier of companies seeking power and money.

The End Justifies the Means to a larger profit.[Sound Familiar?]

Your basic crony capitalism that we use to see in Latin America, Africa and communist nation where the rulers and rule makers greatly favor the company's with biggest pocketbook
[ Chinese Milk products found in OREO filling cookies! Kidney Stones for All.].

Well the pyramid scam, that has so clogged up our In-boxes have come to roost on Wall Street.
Heads-They Win, Tails You Lose.
$700 billion up to $1.2 trillion.
The 7 Yr IRAQ War hasn't blown that kind of cake ,Yet.

It will take a plague to bring The Pharaohs down to their Knees...