Friday, November 14, 2014

Truth or Dare

Nice to see Matt Taibbi back from his dalliance with the Inter-nuts. Its what I call the Silicon Valley megarich who are trying to disrupt everything by re-inventing the wheel. Their new obsession is the "zine" or new online newspaper to encourage millennials  to read and stuff. Well they don't. And it explains a great deal. Unless you can put salient relevant information in 120 words or less, a photo or a text don't bother.

 This generations idea of wealth information is not a metaphor but an actual fact of import.  Try explaining the idea of middle class to this group they equate it with poor.  And poor to them is equal to homeless.  I finally gave up on that one yesterday.  There are some discussions not worth having and the irony is was to people of color and the front page of our Seattle Times discussed the income inequity issue as it pertains to people of color and the immense wealth growth in the area. They still did not get it.  As that would require reading a paper written on 6th grade level.  And this was an AP History class.  So you can see that Houston, we have a problem.

 But to be fair the Gen X that preceded them is not much better. Boomers still read and I am asked constantly by them "where did you get that" about my New York Times. Sadly they seem confused by home delivery but more is the issue of cost which has seriously affected my generation. Well I  don't own a car, home, or anything of value (does debt count as ownership)so the indulgence of cable tv and news is my one luxury.

And his return came during a time when the price fixing, currency scheming "settlement"  with the banks was announced. Other than Barclay's which excused themselves from this to clearly cover their own asses, shows once again we we will never really know the truth and the extent of the corruption and malfeasance committed.

This was of course also during the week that the sacrificial lamb Matt Martoma was ordered to jail while his appeal is ongoing. Welcome to the great unwashed club Mr. Matroma as we too cannot avoid the slammer while awaiting appeal so why should you. Of course his boss, Steve Cohen, goes on with life as usual managing his billions.

There is never ending scandal du jour with banks and their utter collective shrug as they go on with their lives and business as usual.

I would go on with the shenanigans that continue with GM and their knowledge about their killer autos, yes that is a pun, but that is another post for another time. No one should be a footnote in legal documents when it comes to this. But this case is not just a matter regarding GM as more and more auto makers are suddenly being revealed with hiding their defects.

My personal favorite this week however, was another discovery that people whose debts have been eradicated by bankruptcy have found out that they are still hostage to the banks who demand payment to clear their credit. Funny I thought bankruptcy did that but like the Mafia, the banks continue to extort money despite the fact they long since sold off the debt to a collection bureau, another shady set of commerce with no transparency or regulation, and written off the loss via taxes. But hey this covers the ever increasing wage increases for the CEO.

The Taibbi article, The $9 Billion Witness: Meet JP Morgan Chase's Worst Nightmare, discusses the issues about the settlement with Chase for their fraud and of course our US Justice Department's utter cooperation and if not complicit in the agreement to cover up the truth. I love the story of the "whistleblower" and her utter belief in the truth. Shame that Eric Holder does not agree. Door meet ass on your way out.

Funny Jamie Dimon makes the two bit dope smokers and drug peddlers amateur in the level of money and duplicity and the destruction to a community but he can't even get stopped and frisked for a stray dollar in his pocket. He was called "Obama's Banker." That explains it all to you.

As Gandhi said "you may be a minority of one, the truth is still the truth."







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