Sunday, April 28, 2013

The Fix is in

BRT has talked often about the Fed and how it games the system for Wall Street while us rube take the hit. The old term, "Privatize the profits, socialize the losses." rules when bailouts at our expense became the norm in 2008, a policy that continues to this day though the corporate controlled press never talks about it... ever, save for Matt Tiabbi, a guy who knows the drill and has been right on since, it seems, from the beginning of time. To that end, I give you Everything is Rigged, The biggest Price Fixing Scandal Ever.

What's truly amazing about this piece is that the data used to drive ICAP and LIBOR is not vetted and the trivial bribes the geeks take in gaming the system is absolutely astounding.

David Stockman's right about the corruption permeating every aspect of finance. BRT disagrees about gold being the solution to our financial woes but not on his premise we are in trouble thanks to the malfeasance of government, the Fed and Wall Street banks but we already knew about this because the power elite has been doing this kind of business since the beginning of time, only now, the web shows us how this chicanery is done. 

Any questions?

Addendum: The book's a very good read. Very entertaining without question. 

Addendum II: Click here for another MT piece, this time on foreclosures. Guaranteed to make one feel even better about the Fed, governance and WS Greed.

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