Banking Today---Unregulated---Revolution Watch

I find it odd that some 40% of our GDP is in banking and money handling. Can you believe that? The handlers are producing nothing, just touching money as they pass it along to the next handler and then extracting a fee. The really sad part seems to be that many of the "instruments" they handle are nothing but made up investments called CDOs, CDSs and those charming derivitives that do not really represent anything tangible. They are simply pieces of paper thought to represent debt.

They may claim to be something, these derivitives, but in reality they have been leveraged so many times that in the end they are really worthless. The sad part of the deal is the "instruments" end up in the portolos of retirement funds, pension holdings, soveregn nations and unwarry investors. Most of these holders have been sold a product that they were told had value, even a high ratings from a rating agnecy like AIG.

It was all a scam, a fraud, a pozi sceme and oddly enough, they are still out there, still going on. The reason being that the individuals doing this operation, this fraud also are the ones who made the laws that eliinated the rules regulating these transactions. The removed the Glass Steagall act, allowed naked short selling and let Wall Street sell things that were not real.

Oh, but they made money from it, they added to the GDP with it, and now that they have been found out. We are all the poorer for it, all of the 99%. What does the government do, gives the dip shit banks bail out money because they are too big to fail. Yup, if they go down, we all go down. Cute. One has to wonder just want our real GDP is, paticularily if we are not really producing anything.

Has anyone been arrested? I don't think so. In fact, Lloyd Blankfein got something like a $62 million bonus last year. And there are folks out there wondering why we have an Occupy revolt going on and they are saying its not the fault of the rich. Dear Lord, what are we coming to?

Fortunately, most of the real conflict is going down in Europe---but it is all the same cause, and caused by the same people, that would be people on on very own Wall Street. Goldman Sachs, JP Morgan have their hand in all of it. Lets hope that when it all collaspes that the blame is put on Europe and OBama will not be the target. Sadly, few of our citizens remember that it was Republicans, or I should say the Laissez Faire economist associated with the conservatives that set it off. Unregulated captalism is not a sustainable system. It is time for a change.