Tag Archives: racketeering

Stacy Summary:  They say we get the politicans we deserve; do we also get the banking system we deserve?   The second link to Tyler Durden’s piece picks up on Max’s theme that the banks with the collusion of the Fed & Treasury have been running a racket and should be charged under RICO.

• Treasury document called $40 billion AIG investment ‘highly speculative’

• Racketeering 101:  Bailed out banks threaten systemic collapse if Fed discloses information

In a nutshell – the banks want their complete opacity cake and eat it too, or else, the racket goes, the transparency that will somehow promote massive rumor mongering will again destroy capitalism. In the meantime, the Ken Lewises of the world can continue touting how stable their businesses are based on optimistic future projections, while implicitly, they continue to survive merely thanks to the cash granted them by you, taxpayers.