Why do people care about their credit scores?
So the banks will think highly of them.
Why do you care what the banks think of you?
Because you need a loan?
Because you don't make enough money to provide for your family?
And nobody gets raises anymore?
What's up with that?
Do you care what mass murderers and pedophiles think of you too?
What if the banks had something like credit scores to maintain with John Q. Public?
That would be funny, huh?
You know, some people don't struggle to pay their bills.
They don't have to worry about money.
Do you know why?
It's because they are "talented," silly.
Wall Street Pay: A Record $144 Billion
"Firms surveyed said it is too early to comment on 2010 compensation levels."Really? Is it too early? It must be noontime somewhere.
"Many firms say that if they don't adequately compensate employees, they risk losing top talent."
Oh oh oh, so it's talent?!?
And all this time we thought it was pure psychopathic greed.
The pay numbers show that firms, benefiting from low interest rates and strong international markets, continue to base their pay on economic and market conditions rather than the level of pressure coming from regulators in Washington and overseas.Oh ok, so economic and market conditions must be good then? And the pay reflects that? Economy good, market conditions good, therefore pay good? Is that the argument?
Aside from this small problem here...
And aside from all this here....
Let’s look at it this way; imagine you live in a large house and you have several roommates to help pay the rent. Some of your roommates are, unfortunately, starving “artists”, or freeloaders, and do not contribute their share. In order to survive, they begin leeching off the people who carry their own weight. This is Globalism, or interdependency.Now, any sane person would either go find more responsible roommates to share a financial situation with, or, they would move out on their own and become independent. According to globalists though, you are not allowed to move out on your own. You are not allowed to become independent. Like a landlord that has the ability to keep you chained to the property, you live on his real estate or none at all. You must stay trapped in that house, in that financial situation, with a bunch of man-child reprobates, and make it work, for the rest of your life. Why must you do this? Globalists never fully explain, but apparently, it is the “natural order of things”, and isolationism is “bad sportsmanship”.
So, you are stuck in this house of shame. What are your options?
A) Threaten lazy roommates with financial reprisal, withholding funds, goods, etc. (This is what globalists call “protectionism”.) However, if you don’t pay your roommate’s end, you don’t meet the rent, putting the whole arrangement at risk of collapse, dragging everyone down into an abyss of homelessness and doom.
B) Become a freeloader yourself. (This is basically what the U.S. and many other countries have done or are in the process of doing. Why support yourself when you can just borrow and spend to your heart’s content. As long as your roommates keep shelling out the dough, you are good to go. They could go protectionist, though, and stop shelling out the dough. Then what do you all do…?)
C) Assassinate roomies, bury in floorboards, keep stuff for yourself (Shooting wars and violence erupt all the time because of trade disputes).
D) Continue on as the dupe who pays for everyone else. (Nobody does this for long, including countries. Eventually, they’ll turn to options A,B, or C…)
Under forced interdependency, the only person that comes out on top is the landlord. Everyone else becomes equally poor. The illusion, again, is that we must remain interdependent. Why not become self sufficient as a country, and refuse to play the game at all? Why not leave the dysfunctional house, flip the landlord the bird, and build your own home that actually works? Because a bunch of banking elites might label you “isolationist”? Who cares! The alternative is a planet of parasites feeding off each other in a progressively destructive and imbalanced global dystopia. Sometimes, people just don’t get along. Forcing them to predicate their very existence on each other against their will is not a recipe for peace, or economic stability; it’s a recipe for disaster.
We deduce that their pay really is based on economic and market conditions.
Photo Credit: NICHOLAS ROBERTS/AFP/Getty Images
a concluding vignette
"Mr President, I hope you only serve four years. I'm very disappointed in your work so far."
"Who cares what you think?" ~ GW Bush
btw? JP Morgan is reporting excellent 3rd quarter profits.
A 23 percent jump in profits!
Of course, for that big jump, they "deserve" nice tidy bonuses.
Never mind the bail outs.
Never mind gaming the stock market.
The have "earned" those bonuses.
greedy psychopaths can justify anything
The executives direct the robots that make money every single day they operate as high frequency traders. No days with losses since last year.
The Wall St. casino is rigged. In plain sight. And we just watch these vampires bleed our communities into listless creatures.
When 70% of trades are made by algorithms that don't have any sense of a stock's underlying value and are only skimming pennies off the top, we have no idea if price changes are the result of real-world events or if they're just being driven by computers trading with themselves. And what's more, if a firm enters a trade that sets off several algos' alarm bells it can result in a massive flash crash like the one that happened in May.
I'm not sure of very much in this life, my friends, but I feel pretty confident that turning our stock market over to robots will probably end badly for most of us.
Meanwhile all our manufacturing machinery and scrap metal gets shipped to foreign lands with slave wages and hungry titans of industry at the helm.
yabut they did a story on 60 minutes... so everything's fixed now right? right?
Not so fast AP.
The plot sickens...
Instant domino effect. Just add lawyers.
Psychopaths can and do justify anything. It is what makes them psychopaths.
Parasites are never more powerful (and boastful) than the day before they finally kill the host.
I've written an article on how the stock market is not a functioning market at all but, rather, a kin to shooting fish in a barrel (for those that own the barrel). Also covered in the article are details of how gaining free and clear title of shares owned is almost impossible and how this is used.
An eerie parallel seems to be happening with real estate title, too.
thank you James. i remember when this came up before. i wonder with this RE problem if the judges will be able to make this go away. i'm thinking that might be a little harder this time, seeing as we are talking about people's homes.
malcontent, good link. considering that the money the US taxpayers gave to the banks on the very first bailout was enough to pay off every mortgage in the country, i say we start there.
Great post and comments folks. I really found your post on short selling an eye opener James – it certainly explained some questions that I had on the whole idea of ‘shorting’ shares. Excellent job and thank you.
I find it also interesting in light of the recent flash crash in the stock market just recently when the market dropped about 1000 points and somebody cried... oops – do over! They just rolled it back. ???? Somebody succumb to temptation and hit a big red button on those auto traders to see what would happen?
Malcontent, your link touches on an issue that is seeing scant attention but here in CCTV land, I did see one recently – can’t find the link. I came to light after the run on the bank Northern Rock – the signal event to the crash over here.
One couple had to endure 5 years of legal action to recover their title deeds after paying off their mortgage. With all of the repackaging and selling off of mortgages no one could be proven to be in possession of them.
This cannot be an oversight – this is deliberate. The banksters generated as much fraud as they could and the lawyers are clocking as many hours as then can. See a link? Meanwhile the Hoovervilles are returning in the US. Our turn soon I guess.
They aren’t just pissing on us and telling us it’s raining – they’ve lined everyone into one great urinal. Sure the paid shills can say ‘it’s too early to comment’. Excuse me... pardon? When would it be ‘polite’ to comment? Why do they want to delay talk of this? Breaking out in a case of rope allergy or holding off for something?
Clif High was due out with a new report this week and his site is down. George Ure reported that his bills are paid but the ISP pulled the plug. Time is always shorter than you think....
v word = synck
Thanks Chuck. Like the money scam, once it is all laid out, it is all pretty simple. What makes these scams complicated is all the 'expert' explanations from the paid teaching and talking heads over the years. My bet is that the mortgage title fiasco will turn out to be yet another rather simple scam to dispossess people.
One question I had at the time of the 'bail-out' was what are they intending to buy with all that cash? Maybe one thing was/is all these defaulted mortgages. There would be a certain 'synergy' to it which wouldn't escape the perps' senses of humour (such that it is).
Once a mortgage is foreclosed, does this give the buyer at auction a clear title? anyone?
Any time James. You have a clearer eye than I (that probably doesn’t sound right when read aloud) on these issues. It was my impression that what the great scam was all about was delaying all the Credit Default Swaps, Mortgage Backed Securities etc from being ‘marked to market’ ie now we know they’re shite – what are they worth?
These were listed as assets and when the reality bubble went pop many who thought they were on the inside track realised they had been had. Can’t lend out 50 times your assets when you’re assets are not worth cow spit.
The banksters were broke and the fractional system hung by a knife edge. So the kind generous people of the US helped out a poor trillionaire when he was down on his luck – and bought all the crap at face value through the (un)Federal (no) Reserve. Hooray.
That’s level one. The one world that everyone else and I knows bugger all about is the derivatives market. Gambling on something you don’t own with money you don’t own – like a short position on steroids. That has a notional value that physicists can’t put a name to – what comes after a trillion?
Tick, tock. Tick, tock... time is running out. If money meant anything as A.P says, simply buying out the existing mortgages would have ended it. The banks are toast; they must fail and give way to the Uberbank that will rule us all. Sounds hammy I know but this phantom derivative ‘market’ can never payout. It has kept getting bigger through all the turmoil.
Sorry folks I’m not always this grim
speaking of those CDOs, if anyone hasn't seen this yet it's really, really good:
CDOs - the insane problem and the radical but sane solution
i have linked to it several times in the past so you might have come across it before, but if not...
Great stuff guys and girls, all around. So many questions and only some answers as always but determination may yet pay off.
The delaying tactic for inquisitors is systemic. I say this based on a recent chat I had with a friend at FDIC. The banks are seemingly able to keep disaster from regulatory intervention at bay by claiming that their backlog of poorly performing assets are not quantifiable. That is, they are not in a position to declare them worthless and hope to delay audited declaration of current value until some later date when they may perform better.
In other words, "please don't make me sell it right now because nobody will give me more than 5 cents on the dollar for it right now." "I'll just generate excessive fees on my customer base for the forseeable future and write it down on a schedule." I don't know how or what they are conjuring for book values but mark to market is not the norm. Their asset ratios are effectively BS as a result.
If we devalue the dollar enough with ongoing rounds of quantitative easing then these problems will eventually disappear for the megabanks. Counting the casualties is someone elses job.
Gasoline rising by 20 to 23 cents in the last week will put a freeze on any life this economy may have shown.
The article on CDOs was an excellent explanation and a great illustration that nothing has changed since. George Carlin said it best – It’s a great big club...and we aren’t in it.
If oil goes up in price, it won't be the ordinary Scots or the ordinary Nigerians who benefit.
it never seems to work out for the peasants. but we don't give up hope that someday it will.
It works out for some.
Found on Fark with the following headline:
Depositions in FL lawsuit against the big mortgage banks reveal that they hired hairstylists and Wal-mart workers as "foreclosure experts", and that most can't even define what an affidavit is, let alone why they were signing them
The rabbit hole gets deeper
wow, that is just unbelievable, and yet TRUE?!!!
Well if you can't buy enough to eat and pay the bills, no jobs....presto population reduction.
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