These scumbags stole 1.2 million from their clients and it was legal! John Corzine, the guy Obama was about to make Treasury secretary is the one who did it! They are not supposed to trade their clients accounts. The clients thought there money was just sitting in an account like your checking account. MF Global literally took the client money out of their accounts and bought European sovereign credit default swaps which tanked so they went bankrupt. Normally if a brokerage firm goes bankrupt from their own proprietary trading, the clients money is still there because their accounts are separate from the brokerages own money they bet with. Put it this way. If you had 1.2 billion in paper cash in a safe deposit box with them, they would have broken the lock on it and taken the money to buy dogshit credit default swaps with. The system is so fucked now that this is legal!!!! The whole thing needs to be flushed down the toilet. We need to start over, but that won’t happen until those stupid fucks in America are totally broke. Then they will notice but they probably won’t even know who did it to them. The stupid fucks will blame the Iranians or something. The leadership of the United States is raping you! WAKE UP NUMBNUTS!!!!! THAT IS WHY YOUR ASS IS BLEEDING!!!! JOHN CORZINE, FORMER GOLDMAN SACHS CEO AND SENATOR AND GOVERNOR OF NEW JERSEY.
HERE IS WHAT JOE BIDEN THINKS OF JOHN CORZINE. HE CALLED HIM TO ASK WHAT HE SHOULD DO IN 2008. CORZINE SAID “FUCKUM UP IN THE ASS HARD! STEAL 16 TRILLION WHILE YOU HAVE THE CHANCE AND ANYONE NOTICES.” LISTEN TO THOSE DISGUSTING PIECES OF DOGSHIT CHEERING FOR HIM!
Corporate Feudalism. 147 companies, mainly banks, control 40% of the wealth of the world. The title is misleading. This is not capitalism but feudalism with fascism (corporatism as defined by Mussolini) mixed in, dominated by a banking cartel. These egg headed physics dorks are unable to think outside of the limited range given to them at MIT: that our corporate lords are capitalists. They are not capitalists but socialists. Risks are socialized onto you and rewards are privatized to them.
Bank of America is moving their worthless derivatives from their subsidiary Merrill Lynch into the BOA deposit bank. That means that when these derivatives go belly up, the counter parties to these will get paid with the deposits and the FDIC will have to pay the depositors. The FDIC in turn will have to be bailed out by the government because they won’t have enough money to pay the depositors. The government in turn doesn’t have the money to pay the FDIC so the Federal Reserve will have to print more money to buy more government bonds. This money printing will cause inflation.
So to sum it up, everyone that pays taxes in the United States will be paying the counter parties of Merrill Lynch and anyone who holds dollars will also be paying a tax (inflation) to pay for the federal reserve printing money to give the government, to give to the FDIC to give to the depositors, after their deposits have been used to pay the Merrill Lynch counter parties!