There has been rampant fraud in the USA in connection with housing loans. Through derivatives and securitization it spread around the world. Through the bailouts it spread to every single taxpayer and potential payer. By potential payer, I don’t just mean your kids. I mean don’t just mean your grandchildren. I mean your great grandchildren.
If governments do not default the debt or destroy it, together with much of civil society, through inflation then we will be paying for it for generations.
The magnitude of the fraud is apparent from this slide show.
- Repairing the Damage of “Fraud as a Business Model” Presentation by Janet Tavakoli. Hat tip Market ticker
If you prefer videos then William Black on control fraud is hard to beat:
Bank of America Corp. stock fell Tuesday afternoon on speculation that it might be the target of a WikiLeaks document release early next year.
Moves against Assange resulted in a share price rise:
BofA has seen a big rally since the jailing of WikiLeaks founder Julian Assange as concerns about a possible document dump targeting the bank have eased a bit.
Such movement in a major companies share price. Don’t accept any claims from the establishment or the financial vested interests that they did not know. They did. William Black has been making clear for years, yes years, that there is rampant fraud.
Our capitalist system will not work properly if the law is not enforced. Criminals need to be prosecuted. No matter how well connected they are. No matter how much they have donated to political campaigns. It is about the survival of society as we know it. It’s about stopping the imposition of a global police state.
Get angry people. Get active. Don’t let them get away with it.