It's all an illusion folks - we've all been duped by the greatest magicians (aka con men) in the world:
The New York Federal Reserve on Friday released documents showing it knew banks were manipulating a key interest rate more than four years ago.
The documents, which date back to 2007, show that the Fed was fully aware that banks were lying about their borrowing costs when setting Libor, and chose to take no action against them.
The documents will likely feed growing concerns about whether the New York Fed, its former chief Timothy Geithner and other market watchdogs did everything they could to stop the manipulation. The documents also raise more questions about whether the New York Fed and other regulators were too cozy with the banks involved, looking the other way in order to spare the banks too much pain at a time when the financial crisis was still brewing.
http://www.huffingtonpost.com/2012/07/13/new-york-fed-libor-documents_n_1671524.html
I don't know what kind of or how much more evidence is required to prove any further that the moneyed elites in this country do not give a rat's fucking ass about America and the American people. Concepts such as fairness, integrity, justice, and honesty are less than mere words to the 1% crowd -- to them, those concepts represent weakness and weakness equates to losing and losing equates to loser - and losers are to be derided and made irrelevant.
This LIBOR rate rigging scandal, to the world economies, is a volcanic eruption just waiting to let loose. And when it does -- grab your guns, your food and head to the hills people. These evil sons of bitches have been playing cheater's Monopoly with the world's economies and other people's money and the whole house of cards is about to come tumbling down.
The Gadfly has a vested interest in this LIBOR crap as the Gadfly's home mortgage is tied to that interest rate. So basically, if what is coming out in the press is accurate, the rate rigging that has been going on has cost the Gadfly an additional $1200 to $2500 per year on his mortgage payments for the past 8 years. In turn, the people who were doing the rate rigging were criminally raking in millions and billions in unearned gains.
The Gadfly does not take kindly to having money stolen from him - especially by people who are already obscenely wealthy to begin with. Therefore the Gadfly has come up with a surefire solution to this obviously out of control problem.
The only thing that is going to stop these serial criminals on Wall Street and in the banking and financial services sector from - EVER! - doing this shit again is immediately arrest every single fucking one of them suspected of being involved in this criminal activity that has devastated the lives of millions of people around the world, give them fair and speedy trials, and when those who were knowingly involved are fairly convicted, they are then to be given fair and speedy deaths by firing squad -- and that punishment it is to be aired on national television in every country on the planet. Once that unpleasant piece of business is taken care of - it's time to nationalize every single bank and financial institution in this country, ban all corporate money from national elections, and have a small once a year, progressive tax, to publicly finance all national U.S. elections. Any wealthy elites or corporate leeches who are caught attempting to circumvent the public financing of elections law, if convicted, gets an automatic 20 years sentence at hard labor with NO possibility of parole. That's how you clean up the sewage pit that is American politics and corporate corruption. How do I know this? If you even have to ask me that question, you are shit-4-brains clueless and it's best that you just go sit back down in your LaZ-Boy lounge chair and keep watching Dancing With the Stars while stuffing McDonald's fries and Big Macs down your gullet. Oh - and lest I forget - if you truly believe that a "successful businessman" like Willard Mitt Romney is going to give one god damned shit about your sorry poor and/or middle-class ass, and save this country, you deserve whatever economic pain is coming your way - if he wins in November - not one single tear shall I shed for thee at the knowledge of your self-inflicted suffering.
----TFG
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