Iceland Booms As The World Struggles

[kalm]

After thinking and reading on this a little more, the takeaway is that banks, like water and electric utilities are obviously really important...but they're nothing more than just that...utilities. There is nothing truly innovative for the benefit of mankind that they are evermore going to create. Anything beyond their basic purpose is a shell game/scam/casino apparatus. They serve no further purpose and in a perfect world would be brutally treated as such.

[Chizzang]

After thinking and reading on this a little more, the takeaway is that banks, like water and electric utilities are obviously really important...but they're nothing more than just that...utilities. There is nothing truly innovative for the benefit of mankind that they are evermore going to create. Anything beyond their basic purpose is a shell game/scam/casino apparatus. They serve no further purpose and in a perfect world would be brutally treated as such.

Agreed,
But we're too tangled up in it now
Our last 10 presidents have been completely beholden to "The Street" and "The Fed"
Funny thing: The gig is up too - a huge percentage of Americans know the whole thing is a fraud - yet - shy of toppling the entire system, hangings in the street, riots and complete mayhem whilst burning the whole thing to the ground - it ain't changing ...

It's the old:
We know it's fraudulent - you know it's fraudulent - everybody knows it's fraudulent
So what are you going to do about it... (answer) Nothing

So we all PRETEND we don't know
Literally Congress and our Presidents act like Nothing is wrong

[Ivytalk]

After thinking and reading on this a little more, the takeaway is that banks, like water and electric utilities are obviously really important...but they're nothing more than just that...utilities. There is nothing truly innovative for the benefit of mankind that they are evermore going to create. Anything beyond their basic purpose is a shell game/scam/casino apparatus. They serve no further purpose and in a perfect world would be brutally treated as such.

Agreed,
But we're too tangled up in it now
Our last 10 presidents have been completely beholden to "The Street" and "The Fed"
Funny thing: The gig is up too - a huge percentage of Americans know the whole thing is a fraud - yet - shy of toppling the entire system, hangings in the street, riots and complete mayhem whilst burning the whole thing to the ground - it ain't changing ...

It's the old:
We know it's fraudulent - you know it's fraudulent - everybody knows it's fraudulent
So what are you going to do about it... (answer) Nothing

So we all PRETEND we don't know
Literally Congress and our Presidents act like Nothing is wrong

Last 10 presidents? That just takes us back to LBJ or so. Presidents have been wrestling with banks and banking since at least the days of Andy Jackson.

[kalm]

After thinking and reading on this a little more, the takeaway is that banks, like water and electric utilities are obviously really important...but they're nothing more than just that...utilities. There is nothing truly innovative for the benefit of mankind that they are evermore going to create. Anything beyond their basic purpose is a shell game/scam/casino apparatus. They serve no further purpose and in a perfect world would be brutally treated as such.

Agreed,
But we're too tangled up in it now
Our last 10 presidents have been completely beholden to "The Street" and "The Fed"
Funny thing: The gig is up too - a huge percentage of Americans know the whole thing is a fraud - yet - shy of toppling the entire system, hangings in the street, riots and complete mayhem whilst burning the whole thing to the ground - it ain't changing ...

It's the old:
We know it's fraudulent - you know it's fraudulent - everybody knows it's fraudulent
So what are you going to do about it... (answer) Nothing

So we all PRETEND we don't know
Literally Congress and our Presidents act like Nothing is wrong

Not entirely true - especially if you're the size of Iceland...or Kentucky...or Vermont. Come to think of it, I'm pretty sure Sweden went after the banksters during their collapse and Reagan prosecuted 1000's involved in the S&L crisis.

[GannonFan]

Agreed,
But we're too tangled up in it now
Our last 10 presidents have been completely beholden to "The Street" and "The Fed"
Funny thing: The gig is up too - a huge percentage of Americans know the whole thing is a fraud - yet - shy of toppling the entire system, hangings in the street, riots and complete mayhem whilst burning the whole thing to the ground - it ain't changing ...

It's the old:
We know it's fraudulent - you know it's fraudulent - everybody knows it's fraudulent
So what are you going to do about it... (answer) Nothing

So we all PRETEND we don't know
Literally Congress and our Presidents act like Nothing is wrong

Last 10 presidents? That just takes us back to LBJ or so. Presidents have been wrestling with banks and banking since at least the days of Andy Jackson.

Even older than that - banks were one of the original things that got Hamilton and Jefferson into conflict with each other.

[GannonFan]

Didn't Iceland also put some of the banksters and a few government officials on trial as well?

Actual question here - how did those go? I can find little press on anyone from Iceland being arrested for criminal acts associated with the financial collapse, and of the two guys I could find, at least one had the charges dropped and he was able to countersue his accusers. This wasn't the S&L scandal where people in large numbers really did break the law. Some people certainly were breaking the law - many more were simply part of a system that went bad for a whole host of reasons. I'd like it if things were criminal - I think that's easier to fix. Unfortunately, that wasn't the case this time around.

[AZGrizFan]

Didn't Iceland also put some of the banksters and a few government officials on trial as well?

Actual question here - how did those go? I can find little press on anyone from Iceland being arrested for criminal acts associated with the financial collapse, and of the two guys I could find, at least one had the charges dropped and he was able to countersue his accusers. This wasn't the S&L scandal where people in large numbers really did break the law. Some people certainly were breaking the law - many more were simply part of a system that went bad for a whole host of reasons. I'd like it if things were criminal - I think that's easier to fix. Unfortunately, that wasn't the case this time around.

I'd like it if bankruptcy were criminal...then bankers wouldn't have to conduct business the way they do because people can so easily run up their debt and then bail. SOMEBODY ends up holding the bag on all those BK's, people...and it ain't the federal government. It's that friendly corner bank or credit union that just got boned up the ass without any lubricant by the millions and millions filing easy BK every seven years.

Debtor's prison. That's the ticket.

[Ibanez]

Actual question here - how did those go? I can find little press on anyone from Iceland being arrested for criminal acts associated with the financial collapse, and of the two guys I could find, at least one had the charges dropped and he was able to countersue his accusers. This wasn't the S&L scandal where people in large numbers really did break the law. Some people certainly were breaking the law - many more were simply part of a system that went bad for a whole host of reasons. I'd like it if things were criminal - I think that's easier to fix. Unfortunately, that wasn't the case this time around.

I'd like it if bankruptcy were criminal...then bankers wouldn't have to conduct business the way they do because people can so easily run up their debt and then bail. SOMEBODY ends up holding the bag on all those BK's, people...and it ain't the federal government. It's that friendly corner bank or credit union that just got boned up the ass without any lubricant by the millions and millions filing easy BK every seven years.

Debtor's prison. That's the ticket.

"easy" bk? There isn't anything easy about it.

What was smart were those Ivy League law graduates that filed for bankruptcy and got out of having to pay back thier student loans. Of course, because of them, student loans are no longer cleared in bankruptcy. At least, that's my understanding.