Forum Post: Today's Modern Money - Banking - Investments - Economy. An open letter 7/30/2012

Sent this day 7/30/2012 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: Today's Modern Money - Banking - Investments - Economy.

Smoke and mirrors

Bits

Bytes

Mega Bytes

Giga Bytes

Tera Bytes

Well then problem solved - everyone should be credited - AND - SHAZAM - The Meltdown never happened. Easy Peasy - Hey?

Food for thought concerning the above comment:

"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.

~

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/ ]

---

OH & BTW : Ya know? I am actually starting to hear some of this stuff being talked about and not on the internet either. Could the proverbial fecal matter be about to hit the swiftly rotating blades of karma?

The opening paragraph of the "Break Up Big Banks, Says Mega-Bank Pioneer", by Richard Davies Article makes me think of Glass-Stegal.

I wonder if those resigned in disgrace Japanese big shots will commit sepuku - they would have in the old days for such a loss of face.

It is funny though - all of the people in the industry are only now considering what everyone but them seemed to know years ago.

It is also funny too that those in the USA Financial Investment Industry who caused the meltdown have not been charged or prosecuted - not even for Fraud and Collusion to Commit Fraud. Huh. Other Countries ( Iceland for 1 ) are not being so naive. Funny Here instead of Prosecution they are rewarded and even given places of power in the current administration.

PS - On the escalating violence in this country : I think a living wage for all - along with the end of usury practices - and the end of outsourcing jobs so that people can be employed and the elimination of false value/inflation - would all do much to reducing violence and people snapping and becoming nutters. Yes the drug prohibition coupled with the fact of making tons of money from the illegal business and not being able to support yourself let alone a family with legal employment - if you can find it - and there you go - much gun violence defending turf expanding turf and trying to discourage the law from locking you up.

---

If you would like to contact the President:

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

You can also make contact here:

http://www.whitehouse.gov/contact/submit-questions-and-comments