Max,this was excerpted from a long interview, and Mr. Klein got the gist correct.
“This is the Biggest Fraud in the History of the Capital Markets”
Washington Post (blog) – October 8, 2010
Interview by Ezra Klein
UPDATE: Karl Denninger: “The Nothingburger Defense Gets Destroyed”
and jimmy no involved, no rook here,
prease tell stacy she rook good in de gold wideo
“This is the Biggest Fraud in the History of the Capital Markets”
is linking natural resources and labor to petrdollar warfare in 1963
http://gasroot.com
dis is de anthem for de future ousted to come bankers, thank you coldplay
I used to rule the world
Seas would rise when I gave the word
Now in the morning I sleep alone
Sweep the streets I used to own
I used to roll the dice
Feel the fear in my enemy’s eyes
Listen as the crowd would sing
“Now the old king is dead! Long live the king!”
One minute I held the key
Next the walls were closed on me
And I discovered that my castles stand
Upon pillars of salt and pillars of sand
I hear Jerusalem bells a ringing
Roman Cavalry choirs are singing
Be my mirror, my sword and shield
My missionaries in a foreign field
For some reason I can’t explain
Once you go there was never
Never an honest word
And that was when I ruled the world
It was the wicked and wild wind
Blew down the doors to let me in
Shattered windows and the sound of drums
People couldn’t believe what I’d become
Revolutionaries wait
For my head on a silver plate
Just a puppet on a lonely string
Oh who would ever want to be king?
I hear Jerusalem bells a ringing
Roman Cavalry choirs are singing
Be my mirror, my sword and shield
My missionaries in a foreign field
For some reason I can’t explain
I know Saint Peter won’t call my name
Never an honest word
But that was when I ruled the world
Combine this with Chris Whalen’s recent analysis, and what you have is real financial armegeddon on the horizon. There’s no way that bailing out the banks can be justified politically if they fail again after paying themselves billions of dollars in bonuses WHILE defrauding the courts to throw average Americans out on the streets. The Frank-Dodd resolution authority will have to be employed to finally break up TBTF banks.
A link to Whalen’s presentation:
http://www.aei.org/docLib/Whalen.pdf
Second, a link to Denniger’s post of Whalen’s interview on CNBC today (starting at 7:10 of the embedded video)
http://market-ticker.org/akcs-www?post=168606
No no no. It’s capital RACKETS not markets. RACKETS.
Even bigger than the Treasury bond scam that is going on right now?
End the FED!
the real fraud is that slaves own nothing, that’s what slavery means SO WHAT IS THE PROBLEM?
go back to sleep and enjoy the ride
William Black for chief prosecutor.
Janet Tavakoli as deputy chief prosecutor.
Ron Paul, Dennis Kucinich, and Alan Grayson as the oversight committee.
If they get convictions on Dimon and Blankfein, the republic stands a chance. If they don’t, you can kiss it good-bye. (Notice I said, “stands a chance.” I know fiat money and the Fed are in charge, and it’s a sham. But shouldn’t we give them a shot?)
California Class Action litigation against Bank of America and Countrywide
http://storage.denninger.net/CA-Class.pdf