by John Galt
August 15, 2012 05:30 ET
If anyone lives under the delusion that crime doesn’t pay, well for the little schmuck or desperate man trying to rob a bank to feed his family that holds true. However, if one is able to obtain a charter from the United States Federal Reserve or Bank of England it’s a license to rape, pillage, steal, and probably get away with literally committing murder. These three stories from yesterday’s news do not need much explanation beyond the obvious:
Goldman execs cleared from shareholder suit over mortgage problems
Wells Fargo settles SEC mortgage investment charges for $6.5 million
Standard Chartered, New York regulator reach $340 million settlement
Basically speaking, in less than a few seconds of market churning and rigging of stock or bond trades in thousands of grandma’s retirement accounts (allegedly), all of the parties who had to pay fines or lawyers involved in the mortgage meltdown or illegal activity were able to settle and pocket anywhere from 90% to 98% of their ill gotten gains.
So if one wishes to engage in a life of crime, quit grabbing a gun and going to the liquor store. Grab an Armani suit, MBA in Finance, and learn the ways of the modern American bankster where once the Federal Reserve Charter is received, the small print becomes clear:
“Make them an offer they can not refuse.”
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