]]> position:absolute;

Arm Yourself With The Weapons of Mass Education

"What good fortune for those in power that the people do not think." --Adolf Hitler

Did you know the CIA Commits Over 100,000 Serious Terrorist Crimes Per Year? Read the Entire Congressional report]   [hole.gif]

The Zionists represent the most dangerous thing that the human race has ever faced, and unless we begin to find ways to drive these bestial savages back into oblivion, then we are ALL doomed.

The Jewish Peril is real

The "Forgery" (Protocols of the Learned Elders of Zion) is master-plan for vast restructuring of society, creation of a new oligarchy and subjugation of millions.

Part 1


Part 2



US military spreading death

Wednesday, 12 August 2009

A Fraud That Makes Madoff Look Small Time

Since Bernard L. Madoff was handcuffed and taken from his office by FBI agents, we have been made well aware of the nature of Ponzi schemes, fraudulent investment opportunities that pay off early participants with money from newcomers, not from returns on legitimate stock or bond holdings. Mr. Madoff, once a highly respected member of the Wall Street establishment, has admitted to defrauding investors of as much as $50 billion in such a manner. When asked by the agents who arrested him if he could explain what he'd done, he reportedly said, "There is no innocent explanation."

According to the man who may be the leading expert on banking fraud, there is also no innocent explanation for the events leading to the current economic crisis. Last week on his PBS show, Bill Moyers interviewed William K. Black, the senior regulator during the savings and loan scandal in the late 1980s. Mr. Black, who wrote a book based on his experiences and called it The Best Way to Rob a Bank is to Own One, said the fraud and deceit that resulted in the world banking system's dire distress makes Bernie Madoff look like a piker. In fact, says Mr. Black, who is the former director of the Institute for Fraud Prevention, what we have experienced was caused by "calculated dishonesty" on the part of corporate CEOs, aided and abetted by politicians and regulators who tore down the barriers to financial shenanigans - perhaps the most important example being the repeal of the Great Depression-inspired Glass-Steagall Act that separated commercial banking from investment banking. This cleared the stage for the fraudulent investments that made a lot of people very, very rich in what we can now see was an immense Ponzi scheme, many times the size and scope of the scam pulled off by Mr. Madoff.

Consider that one company, the now-defunct IndyMac - which specialized in making liar's loans - in a single year (2006) sold $80 billion of these toxic things to other companies. IndyMac lost more money than all the lending institutions involved in the S&L crisis of the 1980s. And those at the helm of this firm and the others we've heard so much about - A.I.G., Merrill Lynch, Lehman Brothers, etc. - knew what they were doing. Mr. Black believes they dealt in investment instruments they knew were created fraudulently. More



Post a Comment

Subscribe to Post Comments [Atom]

Links to this post:

Create a Link

<< Home

Disclaimer and Fair use