Most bankers are crooks

[ultimatesens]

The banking regulations were put in place after the banking crash of 1929, specifically so that a banking collapse like this wouldn't happen again.

 

But memories are short and they were dismantled (deregulated by Thatcher) so that the banking institutions could make even more money in a free market economy.

 

Yes. They were dismantled in the U.K. and the U.S. too. I wouldn't call either of those free market economies, not by a long shot.

 

I still maintain my argument. That these regulations were there to protect the "economy" and the majority of the people from the largesses of greedy bankers. Also that the bankers and the politicians knew exactly what the effects of their removal would be.

 

The real criminal activity occured when, having been warned that the economy was seriously overheating, they not only failed to put the brakes on, but devised ever more complex and devious ways of exploiting it to their own ends to amass personal fortunes, knowing that not only would it devastate world economies, but they would be long gone when the sh*t hit the fan.

 

Apart from the lies, what I find so hard to accept is that instead of being put in prison they have been put in government...

 

You are quite right again when you say that they KNEW this would devastate world economies. That means they also KNEW that as a result of what they were doing...

 

Millions of people would be forced out of their homes,

Millions of people would lose their jobs.

Millions of people would lose there pensions.

Millions of people would no longer be able to afford basics like heating and fuel.

Millions of CHILDREN would be forced in to poverty.

Countless more human beings will starve to death than did before.

Countless numbers of people will commit suicide.

 

Paulson, Geitner, Greenspan, Bernanke, these are not stupid people. They understand their actions and the consequences they will have.

 

They simply don't care.

 

What kind of a man doesn't care about children being forced in to poverty?

 

The kind that now works for the government, that's who.

 

I understand why you might find that hard to accept but it's also a fact that we have to deal with.

[brianthedog]

For a start banks were lending more than 100% of deposits. That is basically a pyramid scheme and against all regulatory guidelines. When more than 100% of deposits is lent out then no reserve is created.

 

The failure to maintain adequate capital reserves is against Basel 1/ Basel 2

 

It is also illegal to run a pyramid scheme which is what many major banks were/are doing.

 

Which banks were doing this?

[Mecky]

The people outside the cathedral are making no difference what so ever to anything positive in relation to your concerns. Nothing is changing by them being there.

 

Public attitude to corporate greed is changing, if you hadn't noticed.

[I1L2T3]

Which banks were doing this?

 

In the UK Northern Rock lent out 300%+.

 

HBOS - 175%

 

Others like HSBC were very restrained in comparison.

 

The banks with the highest ratios hit trouble first and it's no accident NR was the first. Once no more money could be fed into it's pyramid scheme it collapsed.

 

Banks with much lower ratios were saveable. At massive cost though.

 

I'm shocked that nobody has gone to jail for it yet. But that will come at some point.

[bioduk]

oh dear, you're going to start talking about lizards next aren't you

 

You should open your eyes to whats going on in the world- I mean the real world, not your little BBC world where they'll have you beleive 911 was carried out by a man in a cave, Libya, Iraq and Afghan invasions and wars were just and all news is bad news. Educate yourself with the truth! There is a choice...

[bioduk]

oh dear, you're going to start talking about lizards next aren't you

 

Anna B.

 

Thank you for sharing with the community the information you have found regarding rampant banking fraud.

 

Please do not waste your time arguing with people like andyofborg. Clearly he has no interest in reading or learning anything.

 

When presented with an entire feature length film that lays out the evidence implicating bankers and prominent U.S. politicians were engaged in widespread fraud amongst other things, rather than watch the film, or do anything else to help humanity, andyofborg asks: "where's the evidence?" thus proving he hasn't even watched the film.

 

Yet of course andyofborg still has an opinion on it.

 

Certain people have no interest in learning about history or facts. Consequently these people look to us, like they where born yesterday. They try and have opinions about things because they think it makes them look intelligent and smart when they can argue with someone else who is well read and smart themselves.

 

To other people who have no interest in learning facts for themselves this can be quite convincing, but to anyone who is intelligent and worth talking to, they just look like idiots and simpletons.

 

It's VERY easy to take at face value the propaganda put forth by the very criminals that this film seeks to expose. It requires no creative thinking whatsoever and there are always plenty of people out there who will share your opinion because they too do not do any homework.

 

On the other hand exposing corruption is hard and very frightening. I applaud you for trying to do that.

 

I have quoted andyofborgs signature here to illustrate that in this particular case this person is also quite sick in the head. He clearly thinks it is acceptable and funny to request that people forcibly sterilise other human beings like they were dogs or some other kind of animal. With this statement (which Andy thinks is so funny it follows every post he makes) he is proving to the whole world that he has little if any conscience, he has no empathy or respect for other people and the sanctity of human life. He views humans like they are animals to be controlled by others (like him).

 

My suggestion is that you stop wasting your time trying to convince people like that. Share the information that you have with others but don't get dragged in to pointless arguments with idiots because that is distracting you from making a real difference. Ignore people like andyofborg.

 

More on topic...

 

I obviously agree most bankers are crooks.

 

I think it is clear to most people now that the system is hopelessly corrupt beyond repair. We cannot sit and wait for the bankers and politicians in charge to build us the fair and honest system. They are simply not going to do that. We have to make it for ourselves. If you really want to do something about banker corruption I suggest the following...

 

if you do know of any examples of fraud or corruption at your workplace then you should get evidence and expose it ASAP.

 

You should develop strong bonds with other people who share your opinion and start trading with them and working with them "off grid".

 

If you know any bankers or politicians (or people like andyofborg), refuse to do business with them. Don't cut their hair, mow their lawn or sell them groceries.

 

If you have time you might want to join with other people and protest outside bankers houses.

 

Quit your job and refuse to pay any tax.

 

Write to your M.P. and formally withdraw your consent to be governed.

 

If media companies are spewing propaganda or bile, turn off the T.V. and stop buying the papers. (all the best stuff can be found online anyway...

 

watch-movies-az DOT com/movie/inside_job_(2010) )

 

Also finally If you think quitting your job and withdrawing consent to be governed is taking things a little too far then simply google "national defence authorization act" and you will soon change your mind in a hurry.

 

All the best.

 

ULTIMATESENS

 

xxx

 

well said ultimasens!

[Cyclone]

After you've seen it, tell me if you'll ever believe David Cameron again. (Or most other politicians too.

 

They're scared stiff of what people will do if they realise the truth, they depend on you being uninformed muppits who believe everything you read in the Daily Mail.

 

It makes me so angry. No wonder people are rioting!

 

Way to get everyone on side, accuse anyone who doesn't agree with you of being an uninformed right wing muppet.

[Cyclone]

In the UK Northern Rock lent out 300%+.

 

HBOS - 175%

 

Others like HSBC were very restrained in comparison.

 

The banks with the highest ratios hit trouble first and it's no accident NR was the first. Once no more money could be fed into it's pyramid scheme it collapsed.

 

Banks with much lower ratios were saveable. At massive cost though.

 

I'm shocked that nobody has gone to jail for it yet. But that will come at some point.

 

The reason NR failed was that it used short term debt to lend out. When the short term loans needed repaying they'd borrow again to repay the original one. This was fine whilst the market was liquid and prices were low, but caused the failure as soon as the short term debt became difficult to get. It's not the quantity of what they lent, it's how they financed it that caused the problem.

[I1L2T3]

The reason NR failed was that it used short term debt to lend out. When the short term loans needed repaying they'd borrow again to repay the original one. This was fine whilst the market was liquid and prices were low, but caused the failure as soon as the short term debt became difficult to get. It's not the quantity of what they lent, it's how they financed it that caused the problem.

 

I think I've just about heard it all now.

 

You are suggesting it was perfectly reasonable to lend out 300%+ of deposits?

 

Banks are not supposed to lend out more than 100% minus whatever is needed for capital reserve requirements.

 

You described the cause of the pyramid scheme failure well though. All such schemes fail once there is no more money to be fed in.

[brianthedog]

In the UK Northern Rock lent out 300%+.

 

HBOS - 175%

 

Others like HSBC were very restrained in comparison.

 

The banks with the highest ratios hit trouble first and it's no accident NR was the first. Once no more money could be fed into it's pyramid scheme it collapsed.

 

Banks with much lower ratios were saveable. At massive cost though.

 

I'm shocked that nobody has gone to jail for it yet. But that will come at some point.

 

Interesting. Do you have anything to back this up?