MOST IMPORTANT: Ability To Control Protesting?
Two short articles in the 9-25-10, LA Times business section.
When I connect the two articles along with the reading of the book “The Big Short” by Michael Lewis, it makes me think escape rules are being set so corruption scam architects / politicians don’t get caught in the Fannie and Freddie subprime mortgage *CDO scam.
First LA Times article is from the Associated Press
A federal judge said Friday that she planned to approve the government’s $75 -”million ” settlement with Citigroup Inc., over charges that Citigroup “misled investors” about “billions” in potential losses from subprime mortgages. (SEC attorneys said the commission would have to approve the changes.) Google SED attorney for the answer then do .....?
“The Big Short” (Hard-back first edition) p. 86. Starting in 2005 Citigroup liked the risk of subprime mortgage loans, and kept them on their books. P. 59, The loans where structured to go bad.
“Big Short” p. 72, 73. (Hard-back first edition)
*Goldman Sachs created a security so complex that it would remain forever misunderstood by investors an rating agencies. And the Media.
P 73, "One example is the synthetic subprime mortgage bond, backed CDO, or collateralized debt obligation. Like the credit default swap, the CDO had been 'invented' to redistribute the risk of corporate and government bond defaults and was now being 'rejiggered' to disguise the risk of subprime mortgage loans."
The $75 million settlement informs U.S. banks that they need not open their books to the IRS because that would expose to much information about other U.S. banking operations. Example: “cross marketing operations” world wide. Google the settlement and find out for yourself.
It’s easy to see why the people in Europe are revolting against their governments when they see how they got scamed by CDO’s and CDS’s, Credit Default Swaps p. 65 & 66.
Possible example: Subprime mortgages risky triple-B-rated bonds where seen/derivatived (changed in a contract) as triple-A-rated and then able to be accepted by Deutsche Bank because Xu, p. 66.
Can Europeans understand, “Collateralize Debt Obligation when considering lost retirement money? I know the U.S. Media Can't. Lost retirement because the Bankers world wide are able to remove their legal obligations by saying under oath, “We could not understand the contracts we agree on.”
So now new world wide rules are made but the same stupid excuse is acceptable? Acceptable because no jail time is given for being stupid. It looks like the best thing our world wide educated leaders can do is control the protesters.
Second LA Times article, also from the business section, is about Taxes.
The IRS “scaled back” a new requirement that large corporations disclose on their tax returns whether they are taking tax breaks that “might be unacceptable” to the government.
It sounds to me like the new scaled back requirement permits large corporations to create their own tax loop holes and again use stupid for not understanding Collateralize tax Obligations.
I’m stupid too so it seems to me that the IRS “scale back” is really an IRS “kick-back” because the Bankers did NOT blow the whistle on the politicians who help create the rules for the International Swaps and Derivatives Association. Only rules where created not laws, thus no jail time if only rules are broken.
The same politicians, two of them being Dodd & Frank, who now have created the future regulatory weak rules again? Then over-seen by the banking regulators in the U.S. and world wide!! Example p. 48 & 49. “International Swaps and Derivatives Associations (ISDA) would formalize the terms of new securities (bonds) with help from the big Wall Street firms / politicians who would run the world wide markets.
And if enough citizens protest peacefully about the bond market they might get a slight kick in the ass. But if the protesters get to specific with the blame by giving names and details of bonds real value then they will get extra ass kicking time.
I know I’ve been there. One full year Milan Penitentiary, Michigan, early 1980’s. My FBI # 9309J1. Naturally the FBI had to produce lies of another sort to get me in a federal prison. It happen 30 year ago but you don’t forget when the government you where willing to die for in Vietnam, lied in court to a corrupt Federal Judge. The one year of Penitentiary ass kicking was done by U.S. Wisconsin Congressmen Sencenbrener Jr., his father who was then Wis. State DA and I think FBI Agent Robert Mueller who is now Director of the FBI.
Carl G. Mueller, Nam 68