s skippy the bush kangaroo: the banksters

skippy the bush kangaroo



Tuesday, June 26, 2012

the banksters

and how they are scamming our country out of its future.
...the defendants in the case – dominick carollo, steven goldberg and peter grimm – worked for ge capital, the finance arm of general electric. along with virtually every major bank and finance company on wall street – not just ge, but j.p. morgan chase, bank of america, ubs, lehman brothers, bear stearns, wachovia and more – these three wall street wiseguys spent the past decade taking part in a breathtakingly broad scheme to skim billions of dollars from the coffers of cities and small towns across america. the banks achieved this gigantic rip-off by secretly colluding to rig the public bids on municipal bonds, a business worth $3.7 trillion. by conspiring to lower the interest rates that towns earn on these investments, the banks systematically stole from schools, hospitals, libraries and nursing homes – from "virtually every state, district and territory in the united states," according to one settlement. and they did it so cleverly that the victims never even knew they were being ­cheated. no thumbs were broken, and nobody ended up in a landfill in new jersey, but money disappeared, lots and lots of it, and its manner of disappearance had a familiar name: organized crime.- matt taibbi over at rolling stone

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posted by Cookie Jill at 11:07 AM |

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