Dylan Ratigan, of MSNBC, has Eliot Spitzer on (video below) to discuss the accounting fraud that went on at Lehman Brothers where the CEO and CFO's and the accounting firm of Ernst & Young (under the nose of the New York Federal Reserve and the Federal Reserve in Washington, Tim Geithner and Ben Bernanke, and others, including in government, such as the U.S. Treasury — Henry Paulson, et al.) signed off on fraudulent financial statements designed deliberately to call loans not liabilities but assets, as if Lehman wouldn't ever have to pay back borrowed money and as it the loan proceeds were pure profit. This caused investors to see a completely false picture of the financial health of Lehman. Lehman was very, very sick, but investors were shown extremely doctored medical records on the company. Geithner knew what went on but didn't blow the whistle. Instead, he allowed the investors and the taxpaying public to be bilked.
I don't believe for a moment that this level of deception was limited to Lehman. I know that the whole Wall Street system from the top down is every bit as corrupt as shows through concerning this exposure of criminality that went on at Lehman.
The level of deception is continuing. The fraudsters have not been, and are not being, brought to account. The regulations necessary to prevent massive fraud have not been put into place at all. The volume of derivatives has not gone down when the whole derivatives market should have gone out of existence, since it is absolutely nothing but smoke and mirrors designed so the fraudsters can make transaction and consulting fees and so those on the inside can set up others (including whole nation-states such as Greece and others) to either bribe them or destroy them.
This is not going to be solved by laissez-faire capitalism, a la Ludwig von Mises or Ron Paul, far from it. It is exactly the spirit of selfishness and greed that has caused the problem. There is no ethical and trustworthy spirit of selfishness and greed.
Violent overthrow and coercion against the monsters (and they are mostly certainly of the serpentine mentality and spirit) at the top of the pyramid, which is wrong-side up right now and where there shouldn't even be a pyramid of mammon (gold or otherwise), is not the solution either, although such a violent revolution is coming into view unless the people can see their way clear to accept voluntary cooperation and the giving-and-sharing political economy of the New Heaven come to restore the earth anew, making it the New Earth.
(1) And I saw a new heaven and a new earth: for the first heaven and the first earth were passed away; and there was no more sea.
Usury is not the way. Lending is not the way. Taxes are not the way. Mammon is not the way. War is not the way. Coercion and violence and harming others are not the way. Selfishness is not the way.
Those on the inside and at the top on Wall Street knew what they where setting up to fall when they started their pushed for deregulation. They had studied the historical pattern of how certain other earlier insiders had come to dominate via spoiling and ruining others and tricking the people so the people's ostensible representatives would be able to go along under cover with the Wall Street schemers.
Those who pushed for deregulation never believed what they were saying at the time (that things had changed and that the system was now too sophisticated to fall). They were actually counting upon it to fall on cue so that they who would have prepositioned themselves, could reap all the more for themselves, which is exactly what you've seen has happened. Record smoke-and-mirrors profits are being made during what is a major depression for Main Street. Record bonuses are being paid. Record lobbying is being conducted. Record campaign contributions will be forthcoming. Record consolidations are unfolding. More and more politicians will end up working for ever-higher compensation with those schemers.
None of this is in isolation. All of it is directly connected to the major weapons corporations, the naked imperialism around the world, the building of more and more bases near the and in the heart of the geopolitical Grand Chessboard that is where Europe and Asia meet. However, the Grand Chessboard is now really global. Africa is being gobbled up. South America is still just as much a target as ever – it's simply a matter of priorities in how the so-called New World Order is being unfolded.
What's going to happen?
(9) And he said, Go thy way, Daniel: for the words are closed up and sealed till the time of the end.
(10) Many shall be purified, and made white, and tried; but the wicked shall do wickedly: and none of the wicked shall understand; but the wise shall understand.
It's all going to fall apart and come crashing down is what. False saviors and false prophets will come and go. There will be two of those who will stand out historically. After all is played out, the Christian Commons will take its place. I don't mean the Christian Commons in its earliest stages. I mean the full fruition of it. It won't be under any secular government. There won't be any such government.
The false-hearted flatterers will be gone. Those who raise themselves up as above the real God will be gone. Those who claim to be God where there is not God that they must join and cannot usurp will be gone.