“(CorbettReport) – April 17th, 2011 – The mainstream finally gets around to asking why no banksters have been jailed for the 2008 meltdown; the G20 moves on its aim of establishing a world financial order; and the puppets-in-chief admit it’s all about regime change in Libya.”
In year 2008, the banks were on the verge of all going out of business. In 2008, the bankers lost on the big bets that they made with other people’s money. They had to be rescued by the Federal Reserve’s action of injecting more than a trillion dollars into the financial system. In 2009, the bankers won on the big bets that they made using other people’s money (thanks to the Federal Reserve). In 2009, the bankers rewarded themselves with billions of dollars in bonuses based on their performance in 2009. If their bonuses had been tied to the average performance of their banks over the two years (2008: near bankruptcy, and 2009: recovery thanks to the Fed rescue), then they would not be getting any bonuses.
The bonus system awards gambling wins to the bankers and gambling losses to the taxpayers. This bonus system is still in place and is one of the big reasons that the financial system could fail again. The bankers could have resolved this themselves before the government proposed new rules, but they wanted to have another big payday. The prospect of getting a big payday makes people blind to risks: Blind to the risks of a financial meltdown, blind to the risk that the government would set the rules if the bankers didn’t reform themselves.
Central bankers are crooks, stealing all our savings, our pensions, making them worthless with negative interest rates, to bail out the biggest bunch of crooks in the history of the world and all their spenders like drunken politician masters. Bankers love inflation because it is easier to steal (oops, make money) off of us working people. Too bad they cant go out and earn an honest living like the rest of us have to.
The bankers know the recovery is manufactured and they also know that reform is on the way. When government’s pull back liquidity and programs the economy will seek it’s true bottom; the banker’s will therefore look like ‘profits.’