Four Horsemen Page #5

passed the bailout just showing in my view

that it's under the control of banking interrests

It's not a reflection of good democracy,

when a company or industry sais that

our interrest are more important

than the national interrests

How can that happen?

Very easily, that's the role of

campaign contributions lobbying in

americas political structure.

We have a flawed democracy

There's an advanced oligarchy in the sense that

it's main mechanism of control

is through convincing people that

You really need the six biggest banks in the US

in the form they exist today,

with a very light level of regulation

and if you don't have them if you try to change that

all kinds of things will happen.

And this is not really blackmail,

they convince you it's not blackmail,

it's just the way the world is

there's nothing you can do about it.

You just have to cooperate with them.

It's very clever

The fed is essentially the lobbyist for

the commercial banking system

When you say you want to turn over the

regulation to the fed you're saying that

the fincial sector and wall street

should be self regulated.

Wall Street has veto power over

who ever is going to be the

head of the federal reserve.

As long as you give veto power over

the regulators to wall street,

as long as you pick the bank regulators

from the banking industry it'self

you can forget any thought of

calling it regulation.

It's deregulation...

and to call it regulation instead of

deregulation is using

Orwellian double thinking

Democracy is government by the people,

Plutocracy is government by the rich

In a typical plutocratic state

economic inequality is high,

social mobility is low, and because of

continouous exploitation of the masses

workers find it nearly impossible

to climb out of poverty.

The equal voting rights movement

in the early 20th century

abolished a system where the rich people

had more votes than the poor

But today lobbying has put pay to that

and reduced the American political

system to a mere clearing house

for the concerns of the rich.

The Goldman Sachs machine is one of

using profit's to buy influence in Washington

to change laws to make it easier to

make money on wall street to be used to buy

influence from Washington.

So it's a self reinforcing malfeasance

machine that is continuing to grow as

a parasite in the economy

and continuing to kill the host

Famous for claiming it did Gods work,

Goldmann Sachs is one the most influential

investment banks in the world.

It's illumni often occupy positions of

great influence in governments and

central banks

In september 2008, barely a month before

the stock market crash

Goldmann, supposedly a pillar of the free market,

changed it's banking status from

investment to commercial

This meant it was now elligible for state protection.

Socialism for the rich right there.

Golman Sachs are extremly efficient at what they do.

Their task is to make money.

They make bank robbers like Willy Sutton

look like modest amateurs.

They are huge bank robbers, but it's legal,

the system is set up so they can do it

In the recent years they've been selling securities

put together from mortgages

they knew we're worthless to unwitting consumers

making a ton of money of it,

meanwhile they're betting that they're

going to fail because they know what they

are petteling is rotten, so they place bets

with credit defaults with a huge

insurance company AIG, and that was insuring

Goldman Sachs against the failure of

the stuff they we're petteling

During Americas Subprime collapse

Goldmans traders Michael Svenson and

Josh Birnbaum made a 4 billion dollar profit

by shortselling junk mortgages,

Backed by Dan Sparks internally

Goldman Sachs called their position the big short

and bet against their own clients.

Senator Carl Lewin called Goldman Sachses

chief executive Lloyd Blankfine to a

senate sub committe to testify under oath.

Much has been said about the supposedly

massive short Goldman Sachs had on the US

housing market.

The fact is we we're not consistently or

significan'tly net short the market

In residential mortgage related

products in 2007 - 2008

We didn't have a massive short against

the housing market and we certainly didn't

bet against our clients.

Riding the big short in 2007

made billions of dollars for Goldman

And so far they've got away scot free

with this massive heist.

So they're now back bigger than before,

richer than before, biggest profit's they've

had in history, huge bonuses,

they are doing great

A lot, if not all of what they're doing

has nothing to do

with the benefit of the economy

Can there be any objection to genuinely

talented people learning big money?

If they bring something new and tangible to the world?

If they take great personal risks with their own money?

And actually bring greater prosperity for all?

In a free market If I have a brilliant idea,

that I can run an Automobile on

grassclippings as an example

And i produce that car,

my motivation might be to make money

But if the market says this is the greatest

automobile ever invented by mankind

and I make a billion dollars,

I've not only served myself,

but I've served everyone else

that need transportation.

That is the brilliance of the free market,

there is that paradox, you can serve

your self and simultaniously serve

others and that's what it's all about.

But how many of the general

public have achieved

greater prosperity through a bankers bonus?

It was against the wholy backdrop of

st Pauls Cathedral in London

that Goldman Sachs vice chairman and mouth piece,

Lord Griffith gave insight

into how certain bankers really think.

The devoted christian defended

extorsion and bonuses.

The fundamental christian view,

and Islam as well, and certainly of Judaism

Wealth should be shared,

money has to be shared

from that develops trust in the economy

And we've lost that,

we see people accumulating more and more

I think that's disgusting that people have

lost their homes, lost their jobs,

they can't pay their mortagegs

from bankers that made big misstakes

and got paid enormous bonuses,

that is simply wrong

And I can't understand

why we are not more percifolus about that

When rich people tell you that

they specifically have to be rich

through these egreedious rip off mechanisms

that's just self serving propaganda

and you should be disregarding it.

It is true that when you organise human society

some people will get ahead and

some people struggle

that is a natural mechanism.

But to say we have to got inequality

therfore Goldman Sachs must be organised

along the following lines,

that's a complete non se qui ta

At what juncture, what point does morality

enter into the economic calculous

In a way many people think that

Adam Smith gave us a free pass

A way not to think about morality,

because what Adam Smith said was that

individuals in the pursuit of self interrest

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