Monday, June 25, 2012

Global Cess Pool of Serial Liars & Banking Stooges

 In a remake of an Abbott and Costello movie, Wednesday last week you had Spanish Finance Minister Cristobal Montoro "saying Spain won't need assistance "because it does not need to be rescued". Today you get Economy Minister Luis de Guindos on bended knee asking for a bailout. But wait, it gets better. According to Spanish Foreign Minister Jose Manuel Garcia-Margallo:

"The question of whether the money will go directly to the banks or to the state is still open," 

Re-read that line again. I'll wait for you.

Lovely, send the money directly to the financial terrorists who created the mess. Banker stooge extraordinaire Garcia-Margallo indicated:

"Spain would seek the longest period possible for repayment and the lowest interest rate".

Really now. Nice move. Thy master commands and thy errand boy responds. Pathetic.

Remember when Portugal didn't need a bailout and PM Socrates denied over and over again they didn't until finally one day he did.

Or how about Luxembourg PM Jean-Claude Juncker's famous line;

 "When it becomes serious, you have to lie," 

Sure you do. So who after all this bullS%^# who would believe an assembled cast of characters like this, yet alone trade on anything they say? Why, the products of prestigious MBA schools the world over that's who course! Yes that smart money, 2+2=6 crowd that brought you Enron, MCI Worldcom, repo 105. SIV's (structured investment vehicles) toxic, Liar/NINJA, roboclosures, heck the list is endless. loans that not only were foisted upon pension plans in every corner of the planet but were, still love this one, re-hypothecated over and over again. If it all weren't so tragically sad I would be rolling on the floor laughing right now.

You just gotta had those Ivy league genius credit, when they create a scam they do it thorough. Sell you toxic shit. borrow it, claiming it is in such demand, pledge it as collateral to yet another imbecile, use proceeds to seed yet ever more toxic paper. Rinse repeat. I mean, who comes up with this shit, not some bucket shop operators from JT Marlin out of Jersey our Bernie Madoff who was content to simply run your basic Ponzi 101 racket but rather those sought after graduates of the worlds most prestigious universities, that's who!

Might I suggest the time has come for global banking crime syndicate, along with their representative stooges in government, to simply drop all pretences and simply to walk in and take the money and dare anyone to stop them. My guess is their grovelling, bought and paid for stooges in government would carry the heavy suitcases full of cash out for them.  I know this sounds defeatist and apathetic but the vast majority of the population is so Prozac'd, Ambien'd, Khardashian'd & Idol'd up they wouldn't know the difference.

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