OMG! — The Fed Is Corrupt!

When I woke up this morning, nursing a hangover, you can't blame me for thinking I was dreaming when I turned the radio on and heard NPR talking about "regulatory capture" at the Federal Reserve. In the six years that have passed since the Financial Crisis, I never once heard NPR discuss corruption in the United States. I later confirmed that I was wide awake when I read Michael Lewis' The Secret Goldman Sachs Tapes (Bloomberg View, September 26, 2014).

Now that I think about it, I don't think I've ever heard NPR talk about corruption in the United States. And do you know why? Because these compliant assholes broadcast from Inside the Beltway, so their values reflect the values of the elites that operate there. For example, they've been talking about ISIS and terrorist threats for weeks now, practically non-stop!

Like the Fed, NPR itself is corrupt, and they don't even know it 

Fortunately, Carmen Segarra taped her meetings with representatives of Goldman Sachs, which she was supposed to regulate. And since she was actually trying to regulate The Beast (the Antichrist, 666, etc.), the Fed fired her for trying to do her job.

Here's Lewis, summing up.

1. You sort of knew that the regulators were more or less controlled by the banks. Now you know.

2. The only reason you know is that one woman, Carmen Segarra, has been brave enough to fight the system. She has paid a great price to inform us all of the obvious. She has lost her job, undermined her career, and will no doubt also endure a lifetime of lawsuits and slander.

So what are you going to do about it? At this moment the Fed is probably telling itself that, like the financial crisis, this, too, will blow over. It shouldn't.

Well, we didn't "sort of know" that the regulators were controlled by the banks. I mean, these are humans, right?

Of course it will blow over! Who was the head of the New York Fed, which is responsible for regulating the Big Banks, in the run-up to the financial crisis? Tim Geithner. And what happened to Tim Geithner after the shit hit the fan? Barack Obama (Hope, Change, etc.) appointed him Secretary of the Treasury.

And where is Tim Geithner today? He is president and managing director of the private equity firm Warburg Pincus. Do you see a pattern here?

And just to make sure you're clear about what's going on in the United States, here is yesterday's chart of the day.

Comments

[colinc]

Great article, great chart! I have never seen a clearer picture of the effects from Rabid Ronnie's trickle down (from the urinary tract's of the rich onto the subservient peons) 'economics.' Will the somnambulant masses awaken and actually do something about this? I find it extremely unlikely. If 'we' did decide to take the required measures to correct this travesty, e.g. eliminating certain genetic material from the pool, DHS and their jack-booted thugs would find 'reason' to use all that hollow-point ammunition they've acquired. Alas, poor Carmen, we knew her not at all and she has sacrificed so much for so little. Thankfully(?!) the human experiment on this rock is near its conclusion. Yet, if a call to action does arise, I nominate this ditty, from The Coup, as the 'battle-hymn.'