Forum Post: No More Laws for Bankers, No Anti-Trust Law, NO FTC, No RICO Laws for Incest BTW Federal Officials & Bankers
Posted 5 years ago on April 8, 2013, 12:05 p.m. EST by Middleaged
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No More Laws for Bankers, No Anti-Trust Law, NO FTC, No RICO Laws for Incest BTW Federal Officials & Bankers.
I guess Soros is a Banker, so maybe he is a terrorist. Bankers & the Banker Trust that Roosevelt fought against seem to have taken over the Economy of the US ... and probably Europe. The Banker Trust seems to be creating all kinds of Dollars out of control really ... and instead of investing it into small businesses (the core of the US Economy) ... they invest in derivatives causing a huge imbalance in the US Economy and the US Federal Budget.
Let's see what damage we have:
1) FTC was created specifically to deal with the Banker Trust (1914), but the authority of the FTC to deal with banks was taken away from the FTC.
2) 1995 the Private Securities Litigation Act prohibits Anti-Trust and RICO charges be leveled at banks in Lawsuits... probably as a result of the Arrests and Lawsuits aimed at Fraudulent Banks in the Savings & Loan Scandals through the 1990s which resulting in prosecutions of 4000 people.
3) 1999, Gramm-Leach-Bliley Act repealed the 1933 Glass-Steagall Act which seems to have created a Deregulation Banking Free For All and Gresham's Dynamic where there are incentives for fraud and high risk casino bets.
4) 2002 Campaign (Financing) Reform Act seems to have open the doors to even more soft money going into Washington campaigns.
5) Citizens United VS. Federal Elections Commission obviously codifies Corporations as People who can make unlimited gifts to Politicians in Supreme Court Ruling.
6) Obviously Banks are Corporations that can buy politicians and changes to Regulations at will ... after all they also occupy key government offices and agency positions in cozy relationships which could be termed "Incestuous".
7) Obviously the power of the Bank Trust is stronger today than in 1913 when the Clayton Act was Signed & Ratified. You can't hope to win in court against corporations unless you have millions of dollars behind you as funding.
-Sorry those are just the main reasons that Banks Terrify me.
8) FINRA, the private self regulating organization for Finance is really just a "Think Tank for Bankers".
9) SEC, OCC, FDIC, NCUA (to a lesser degree), and Federal reserve regulators probably don't have the money to Sue banks in Court in what could be 10 years per case ... but clearly they aren't doing their jobs.
10) FDIC Insurance was insufficient to cover deposits in the 2008 Financial Crisis ... so as Ellen Brown and Yves Smith seem to point out that Fees charged to Banks should be Raised to cover FDIC Insurance needs ... now that TBTF are bigger than ever depositors are at huge risk in the USA.
11) Federal Treasury Interest Trust Fund, Probably we need a bank tax for Wall Street Investment Banks that got 2008-2012 TARP & Bailout Money ... to set up a US Trust Fund to Pay for Federal Interest on Borrowing at the US Treasury.
-I'm lost on Immigration. Immigrants from Central America are just men and women who need money and want to help their families. On the other hand having open borders has always helped small and large businesses with larger profit margins and downward pressure on wages. It could be that open borders was corporate strategy to fight Unions. Unions have been called Communist or Socialist. And you have to talk about the Banana Wars to put cheap labor and corporate strategy in context.
-The only thing I know for sure about Immigration - is that there has always been an imbalance between wages and opportunity.