Blog 32

All this talk about bonuses for disgraced top executives is a smokescreen to cover the real issue. The amount of money paid out to this small elite group is a pittance, less than a pittance in comparison to the amount of money these people have diverted into the pockets of the bankers over the years. That these pittances come from the taxpayers is also not worthy of mention. All the money the banks divert into their bloated coffers comes from the taxpayers and it is vast, and I mean VAST. Executive bonuses? Mere petty cash.

The banks did nothing illegal, human nature being what it is makes the rapist rape and the greedy seek to hoodwink the gullible out of their hard earned money, and if this can be done within the law, then the sky is the limit. The real blame lies with Governments for first not understanding the ramifications of the increase in efficiency the banks acquired through the electronification of the financial system and secondly, for doing nothing about it.

Credit [no pun] to the banks for keeping what they have been up to hidden for so long, not only from the public but from politicians. No one ever questioned why this group of 'non-wealth creation' people live so well, how the banks can afford such large television advertising campaigns offering their 'freshly printed funny money' when the real wealth creation companies can barely afford to pay the very workers that create the real wealth let alone spend millions on TV advertising campaigns.

That wealth creation institutions the like of Chrysler Motors should be teetering on the edge of oblivion as a result of the antics of the Bankers is a bigger crime against humanity than anything Hitler, Mao Ze Dong, Josef Stalin and Pol Pot could have thought up, even working in unison.

Barack Obama is right when he said in an aside, most of the financial chicanery that has come to light is ironically within current laws. So, to be 'fair' we have to let this less than savory bunch get away with the morally suspect robbery they've been involved in up to now.

Until now society has just not cared enough to do anything about it, and I am not so sure that the kick in the soft underbelly that the banks administered to the gullible public in 2009 is enough to force Governments to consider any drastic reforms to the financial system this time round.

Advances in electronic dealing, money supply etc have created a whole new ball game, it's time to analyze and understand the whole financial system and then decide what new laws are required to make sure that that element of society that can do nothing [the bankers] to support themselves other than to 'leech' off the real wealth creators, are kept in check.

We're not talking about the abolition of capitalism here, just a few rules that should have been in place long before now that reduce the 'leech mob' numbers down a level that the real wealth creators and the system in general can support.