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Finance as a conspiracy of insurgent terrorists

Tony Wikrent's picture

From comments at a story at Naked Capitalism on the most recent legal breakthrough in the battle against foreclosure fraud:

The SEC Acts of 1933-34 specifically deal with conspiracy to commit securities fraud. Salaries of SEC employees are trivial with respect to the amounts of money involved by conspirators. Small wonder that the SEC looks the other way to the extent it does.

If you look at the banking/economic history of the last 30 years as an insurgency, there are striking similarities:

1. cell-networks that maintain secrecy => individual frauds linked by key individuals (Lewis Raineri, Robert Rubin, Madoff?)

2. terrorism used to foster insecurity among the population and drive them to the movement for protection (psy-ops and orgs to get the public to move their savings to skimmable accounts like money market funds and 401ks)

3. multifaceted attempts to cultivate support in the general population, often by undermining the new regime (convince the public they can retire wealthily while creating a shadow banking system handle the funds) see number 2

4. attacks against the government (infiltrate enforcement agency (SEC) (Treas)(FRB) to divert/prevent investigation or provide intel to facilitate covert operations

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