Tuesday, June 18, 2013
   
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Wall Street pay returns to pre-crash levels

Articles & Blogs - US Commentary

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With Wall Street banksters clearly believing that “the worst is over”, they have immediately gone back to looting their corporate treasuries in the same criminal manner as they have exhibited through most of this decade.


In this case, however, the theft is much more blatant: they are stealing their exorbitant salaries directly from U.S. taxpayers and their own shareholders. The U.S. financial crime syndicate has already looted well over $2 TRILLION from the U.S. government in extortion payments, “loans” (which will never be repaid), and “guarantees” on virtually their entire operations. Altogether, taxpayers have more than $10 TRILLION at risk.


When Wall Street teetered on the brink of total collapse last year, and shareholders were absorbing losses of at least 50%, and often 90% or more, the banksters delivered another blow to shareholders by slashing dividends. Now, with the banskters pretending to be profitable, instead of restoring dividends to the shareholders who have already been betrayed TWICE by the these fraudulent liars – they are diverting all of the extra cash they claim to have into their own pockets.


An article in the New York Times reported on Sunday that Goldman Sachs had already increased the money set aside for “salaries” to the same level as before the crash occurred – while some employees at JP Morgan are already being paid more than they were before the crash.


Even Morgan Stanley has raised its wages dramatically, despite the fact that it was unable to invent a “profit” on its bottom-line – even with the new “mark to fantasy” accounting which the banksters have used to fabricate “profits”.


Personally, I have no sympathy for the shareholders of these fraud factories. Anyone who didn't already bail out of these criminal enterprises with whatever remnants of their investment they could salvage deserves what they get. If someone buys shares in the “operations” of a Mafia crime “family”, they have no one to blame but themselves if they are cheated by the “don”.


What is appalling is that with nothing more than a “dead-cat bounce” in equity markets, and fraudulent accounting that has temporarily been legalized, these criminals are once again stealing with from their companies with the same reckless abandon as when they actually did have “profits” (even if almost all of those “profits” were from their own multi-trillion dollar “Ponzi scheme”).


This is yet another indictment of the corrupt, Obama regime – which has clearly demonstrated that it plans on being at least as servile toward Wall Street as the Bush regime, if not more so. At least Bush had the excuse of being too stupid to understand what was going on around him. Not so with Obama.


Obama was stuffing his campaign coffers full of Wall Street money in the two years prior to his election, and it is clear he has not “forgotten” his benefactors now that he is in power. He appointed Tim-the-tax-cheat Geithner as “Treasury Secretary”, knowing that Geithner has been a Wall Street “errand-boy” all his life. And now he is letting them steal as much as money as ever – much of their ill-gotten gains being taxpayer hand-outs from his own regime.


These people are so obsessively greedy that they will literally rob their own corporations into bankruptcy. While losing more than HALF a BILLION dollars in the first quarter, Morgan Stanley was setting aside 68% of all reveneues to be paid out in wages and bonuses.


Keeping in mind that none of the “profits” reported by these fraud-factories would exist with honest accounting, they should not even be restoring shareholder dividends. Instead, they should be slashing wages still further, and withholding dividends in anticipation of the 2nd half of this year, when the 5th “economic recovery” predicted by “Helicopter” Ben also turns out to be nothing more than a hollow lie.


Instead, the banksters plan is clear: simply stuff as many dollars into their own pockets as possible – every chance they get – since they know these bankrupt, criminal enterprises will eventually drag the entire U.S. economy down with them.

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