Forum Post: Give em all a Madoff Makeover - From Riches to Rags to Prison. An open letter 7/31/2012

Sent this day 7/31/2012 An Open Letter Addressed to The President of the United States of America and to all of the currently seated members of Government and to all of the citizens of the USA to the people of the world and to all governments. Please Handle and deliver/share as you would a letter delivered by the USPS.

Mr. President and all currently seated members of Government and to all the citizens of the USA, to the governments and people of the world.

1st let me state that these letters I send to you I also send out on social media to all of the citizens of the USA to read as well - and I suppose it could be considered as open letters to the world also.

Anyway today's subject: Economic Meltdown Criminals of Wallstreet and International Trade Investment the WTO = The Investment Bankers.

Give em all a madoff makeover - from riches to rags to prison. I hear this a lot. And Why Not? I mean what makes these Investment Bankers any different than Mr. Ponzi Bernie Madoff? What makes them ( Investment Bankers ) different from the Execs at Enron - what makes AIG any different from say Enron's Auditor ( Accounting firm Arthur Andersen ) ?

Honestly(?) - nothing makes Madoff & Enron any different from JPMorgan Bank of America or any of the others involved in the current economic meltdown ( USA & World Wide ). The only difference perhaps would be size of the players ( criminals ) involved and the Size & Scope of the criminal activities and the incredible numbers of victims ( world wide ). In comparison to today's economic meltdown - Madoff & Enron were very small and wispy clouds briefly passing in front of the sun and casting a cool brief shadow. And Yet! Serious criminal proceedings came out of the Madoff and Enron scams. How long is Madoff slated to serve time(?) something like 150 years - Right? This and he was stripped of all of his assets. Um - this sounds crazy to everyone - The current economic criminals did not get into any trouble at all - to this very point in time - in fact they were given public money to make them whole and to give them multimillion dollar bonuses - along with that - some are in the current administration as advisers ( really? give them positions of power? ). World wide the only country that has gone after their Banking criminals ( entire ) is Iceland?

And you wonder why the world wide public is in unrest are protesting?

Government ( USA ) is doing nothing for the victims of these current economic crimes - Hundreds of Thousands are on the street homeless Millions unemployed. And the Government is doing nothing to help them. What has been offered in aid to this point in time has been like a spit in the ocean or like spiting at a raging forest fire. Basically the same as doing nothing.

Question : How many corpoRATists ( the new invisible party ) are there in office? We see many of the obvious ones and the majority of them seem to be doing a poor job of hiding under the republican banner - but there are also some of the same hiding under the democratic banner. This is more than obvious to all who have their eyes open.

Prove me wrong in this assertion - actually do some good work for the support of the people and the support of the environment.

Consider this letter that I have sent to you today as food for thought.

PS - Here is a novel idea!!! You apparently do not want to charge and prosecute the economic criminals!!! How about making the ARTIFICIAL people/corpoRATions/criminals PAY RESTITUTION???

Fun Fact; One of the MegaMonster's ( Citigroup ) former CEO is calling for the break-up of the Too Big To Fail.

"Break Up Big Banks, Says Mega-Bank Pioneer",

by Richard Davies.

It’s nothing less than a remarkable about-face. One of the architects of mega banking is now calling for the breakup of the world’s largest banks. Sandy Weill, formerly CEO of Citigroup, told CNBC : “What we should probably do is go and split up investment banking from banking, have banks be the deposit takers, have banks make commercial loans and real estate loans, have banks do something that’s not going to risk the taxpayer dollars, that’s not too big to fail.”

<http://www.youtube.com/watch?v=mZ_fvnN9P2Q>

In the late '90′s Weill was a global banking pioneer, building Citi into a financial supermarket. Now : “I am suggesting that they be broken up so that the taxpayer will never be at risk,” said Weill, adding his voice to a growing chorus of regulators, and financial experts.

“Our system has been hijacked and we need to change it,” says Neil Barofsky, former special inspector general in charge of oversight of TARP. Breaking up the banks, says Barofsky, “is widely accepted.” Barofsky, who makes his case in the new book, “Bailout,” claims “the only people who have not accepted this it seems like is the big banks themselves and the politicians they seem to affectively control in Washington.”

Another scandal at a large financial firm … Nomura Securities CEO Kenichi Watanabe has resigned in the wake of an insider trading scandal at Japan’s biggest investment bank. Watanabe announced his resignation at a press conference in Tokyo. Takumi Shibata, another top executive at the bank, has also resigned. Watanabe, 59, will be replaced by Koji Nagai, the president of Nomura Securities, which is part of the Nomura banking empire. Japan’s financial regulators are investigating Nomura Securities for leaking information to clients ahead of planned securities offerings by energy company Inpex, Mizuho Financial Group and Tokyo Electric Power Co. in 2010.

What has the corporate earnings season told us so far ? Europe is a big drag on profits and sales. That was clear from disappointing earnings at UPS. Dow Chemical, Ford and Apple have also blamed their less-than-stellar numbers on a decline in European demand. “The corporate alarm bells highlight how the miserable economic conditions in much of Europe are spilling onto the global stage,” reports The Wall Street Journal.

Another low for the US Treasury 10-year note. Now down to 1.39 percent, as many investors buy US Treasuries as a safe alternative to stocks. The collapsing yield has prompted a fresh wave of mortgage refinancing.

Shares of online games company Zynga plunged 40 percent in after-market trading after it cut its full year outlook.

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radix omnium malorum est cupiditas ...

~

by Richard Davies, Business Correspondent, ABC NEWS Radio.

[Article copied verbatim under "Fair Use" from : http://abcnews.go.com/blogs/business/2012/07/break-up-big-banks-says-mega-bank-pioneer-3/ ]

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http://www.barackobama.com/contact-us/ or email info2012@barackobama.com

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