Monday, September 15, 2008

Lesson 101 for aspiring thieves, liars and con artists: Steal BIG

Lesson 101 for aspiring thieves, liars and con artists: Steal BIG. Forget knocking off that Quik Shop around the corner, all that will get you is a few bucks and 5-10 years hard time.

Instead, aim high and set your sights on looting a major banking concern, like Bear Sterns.

This article makes a solid case that Bear Stearns was looted from within, "... John makes the case that the Bear Stearns collapse was artificially created so that insiders could take large short positions in Bear Stearns stock prior and so that J.P. Morgan would in effect be paid $55 Billion of US tax payer money to shore up themselves and to buy Bear Stearns.

When all of this plundering was going on at Bear Stearns, we had the top Alpha Dog at BS, Alan Schwartz, saying this:

On March 12, 2008, Alan Schwartz CEO of BS was telling David Faber of CNBC that there was no problem with liquidity and that "We don't see any pressure on our liquidity, let alone a liquidity crisis."

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Most Americans have been brainwashed into thinking that those "mean and nasty Muzzies" are the main threat to American prosperity and security.

Sold to us by the same tribe that's behind this fleecing of the American public.

"OMG, Iran might have the bomb!!! OMG!!!" Kill them all, NOW and we'll be SAFE!!

But never forget the "little people."

Alan C. Greenberg, who headed Bear’s risk committee, is going to stay on at JPMorgan as vice chairman emeritus.Greenberg is being lauded that he gave $360,000 out of his reported hundreds of millions of dollars to some longtime Bear employees in the mailroom and elsewhere.

Gosh, what a guy, what a guy!!! Loot several hundred million from the recently deceased and let some of that "tinkle down" to the proletariat.

Here's another tip when sizing up your mark: Have an inside man, or in this case, men... and women, to help you walk away unscathed with billions of dollars.

If you want to know how Fannie Mae and Freddie Mac have survived scandal and crisis, consider this: Over the past decade, they have spent nearly $200 million on lobbying and campaign contributions.

There's plenty of opportunities out there, but you'd better hurry, all the choice spots at the feeding trough are disappearing fast!!!

Hurry, hurry, hurry, step right this way!!

Like the fed takeover of Fannie Mae and Freddie Mac, which will eventually cost taxpayers close to 5 TRILLION dollars.

The "Brain Trust" behind the Fannie Mae and Freddie Mac implosions, like Richard F. Syron of Freddie Mac, will walk away with multi-million dollars "golden parachutes."

From the NYT

The government’s planned takeover of Fannie Mae and Freddie Mac, expected to be announced as early as this weekend, came together hurriedly after advisers poring over the companies’ books for the Treasury Department concluded that Freddie’s accounting methods had overstated its capital cushion, according to regulatory officials briefed on the matter.

Overstated its capital cushion? In other words, they LIED and for that bit of perfidy, they're going to be rewarded with millions and millions of dollars of YOUR tax money.

How sweet it is.

By conservative estimates , Mudd, of Fannie Mae, and Syron, will leave with an additional $7.3 million and $6.3 million, respectively, as part of a severance package, according to an analysis by Paul Hodgson at the Corporate Library.

The new golden rule: Take the money and run

Another lesson for would be scam artists is to go after the elderly, as they are not long for this earth and are ripe for the picking.

Say you're on the board of a major pharmaceutical company and let's say for the purpose of this post, that company is Pfizer.

Another tale of reverse "Robin Hoodism." Steal from the poor and give to the mega-rich. No shock there. We’ve all noticed, especially the seniors among us, the continuing price climb of prescription drugs, not to mention the profit climb of the drug companies. The big drug makers like Pfizer are trying to justify the price increase by claiming some sort of industrywide decline in profits. Try telling that to someone caught in the Medicare donut holes (click here for more)

There’s certainly no decline in “golden parachutes” for CEOs. The Alliance for Retired Americans points out that last year two of Pfizer’s top execs retired with a sweet $56.8 million in combined compensation.

But at least seniors have a choice, and that choice is that they can either buy groceries or pay for those sky high drugs they need to function.

What a bitter pill to swallow, but thanks to our buds at Big Pharma, that pill is too expensive for many.

Next lesson on how to steal Big? There's 45 TRILLION dollars being slopped to the hogs, better get to the trough in a hurry.

For example, financial institutions worldwide have some $45 trillion in an exotic instrument called credit default swaps outstanding.

An outgrowth of the MBS, mortgage backed securities scam.

In the opening scene of "The Music Man," Professor Harold Hill (played by Robert Preston) is asked by a fellow traveling salesman, "Where you headed Friend?" Hill replies "Wherever the people are as green as the money, friend." In the story, Hill, a smooth, fast-talking gentlemen, descends on River City, Iowa, a place desperate for progress, nearly paralyzed with ennui. His trade: selling people things they don't need.

Plus, have a carnival barker to lure in and keep the gullible from walking away from the bait!!!

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