Tuesday, 7 August 2012

Traitors and Liasons


Roman philosopher, statesman, lawyer and political theorist Marcus Tullius Cicero once said, “The traitor moves amongst those within the gates freely. [A  traitor] rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the politic so that it can no longer resist” and, with news that silver and gold prices may well be investigated in tandem with Libor rigging, it is not hard  to imagine that not only has traitorous contamination seeped into every crevice of the global economy but the unconstrained powers and insatiable appetites of the banks have more than undermined the pillars of the city.
Banksters still bask in comforts provided by outrageous profits secured by capitalising (several times over) from bailouts which rescued them from their own misdeeds. Meanwhile I, along with rest of their victims, are condemned to financial purgatory while watered down banking reforms and limp government initiatives provide nothing to aid to our recovery. Contrary to the promises of both Gordon Brown and David Cameron, help has never been at hand and bailouts did not secure our homes with mortgage forbearance or loan modification. Bank bailouts have only preserved the rot and allowed the corrupt to steal the hearts, the souls and the prosperity of many nations.

Endowed with the ability to create credit without regulatory restraint, the past year alone has revealed bankers regularly chose to abuse their privileged positions by mis-selling unsuitable life products, unserviceable mortgages and immoral interest rate swaps, to name but a few. Regulatory fines, although larger than ever levied before, are only a fraction of the returns harvested by these criminal acts while directives deterring prosecutions of banking fraud, even for aiding the drug trade, have only further incentivise the criminally astute to consider profit hungry risks like HSBC’s foray into money laundering .

De rigueur for the offenders to claim Libor rigging as victimless has proved to be more traitorous flannel borne out by the mounting numbers of prosecutions being brought by institutions worldwide. In my case Libor manipulation may well have been responsible for a local housing association’s decision to withdraw from purchasing land for a local housing estate on which my husband secured both an option and detailed planning permission at considerable personal expense. Too “remote” to seek recompense through legal channels this economic crime, combined with the short sighted, sexist actions of HBOS and Lloyds, has cost us our home, our livelihood and our financial future. Void of legal or political support, victims are destined to remain the punch bag for banks like HBOS for as long as it amuses them.

US president Abraham Lincoln once said, “Nearly all men can stand adversity but if you wish to test a man’s character then give him power” and if the past four years for me are anything to go by it is clear traitorous infiltrations have done a great deal to perpetuate an all powerful banking culture which remains beyond both the law and the influence of government.

I sincerely hope I’m wrong.

5 comments:

  1. You are not wrong Caroline. The so called credit crunch prompted mainly the collapse of Lehmann's & AIG wiped me out. Perhaps but for our misfortune neither of us would be getting involved in this shite. I have never had any interest in economis banking or politics but when everything started to fall apart & there was obviously something not right with the poltical & media's explanations, I started to look for answers for who was behind this mess.

    I first chanced on David Malone's blog & my education in infamy began. Through his blog I found other sources of info, some later rejected illuminati etc, but with help from people like Ian, Rowan, Max, JW, Mr. Chomsky just to name a few, I was able to clear the fog of disinformation & to see clearly into the cess pit.

    I will be forever grateful to those who stand up for the majority on this Godforsaken planet, thanks to them we have the truth & can hopefully, albeit in a small way, help them to spread it. It's the least we can do for those countless people who gave their lives to drag us out of serfdom. If we find ourselves back in that state, collectively we will deserve it.

    I think it is there for those hollow creatures of greed to lose, as they cannot help themselves & will push it to breaking point. We hopefully can give them a push so that when downfall does come, it will be at the least cost to those who are innocent of this foul corruption, my Grandchildren for instance.

    Rave on Caroline, good luck.

    ReplyDelete
    Replies
    1. Thanks for you kind and supportive words Steve. It really helps to know I am not entirely alone (or unheard) while I continue to bang my head against the regulatory defended wall of banking avarice.
      My only remaining asset is my voice and in the hope of affecting change,I will do my very best to "rave on"!

      Delete
  2. You might like to come to our discussion event, "Socially useful banking?" with the Bank of England's Andy Haldane (Exec Director, Financial Stability).

    Register at sociallyusefulbanking.com

    We also have participation on the panel from Bully Banks, representing IRSA mis-selling victims, Which? and the TUC.

    Monday Oct 29, 6 pm, Friends House, London NW1 2BJ.

    ‘The conclusion to be drawn from Haldane's work is that an out-of-control financial sector is eating out the modern market economy from inside, just as the larva of the spider wasp eats out the host in which it has been laid.’ - Financial Times Chief Economics Commentator Martin Wolf

    ReplyDelete
    Replies
    1. I would have very much liked to attend this Occupy Economics discussion event but as I do not live locally, I have struggled to arrange childcare or the funds for this trip. Thank you for taking the time to both read my post and invite me.

      Delete
  3. There are many organizations that are offering customers interest rate swap miss selling protection for their benefit. Visit us for know all about Interest rate swap mis selling

    ReplyDelete