Tag: Hank Paulson

First, they learned that financial markets are hyper-sensitive to steroids, lack of law enforcement, and time-tested shock doctrine principles, and that they can profit mightily from destroying capitalism.

Second, they learned that they “own the place,” “the place” meaning “the potemkin government,” “no longer applicable laws,” “the future wealth of all dispossessed generations of slaves, thralls, and hostages;” and “owning” meaning “complete mastery of all worldly possessions unto the end of the earth and beyond.”  Third, they learned that no lies are too big to tell.  Fourth, they now keenly understand that the religion of financial growth is the most powerful Kool-Aid invented, and now it’s just a matter of getting everyone on the plane to Jonestown.

File this under change we can believe in.

NEW YORK (CNNMoney.com) — New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America executives, including former company CEO Ken Lewis, for their role in the company’s controversial purchase of Merrill Lynch…

…The lawsuit contends that the bank’s management team understated the losses at Merrill in order to get shareholders to approve the deal, then subsequently overstated the firm’s willingness to terminate the merger to regulators weeks later in order to get $20 billion of additional aid from the federal government.

Anyone know why they are not bringing criminal charges?  ‘Cause I’d like to see some people go to jail.  Is it that bringing criminal charges against rich people is gauche?  Or something else?   Oh, wells.  The important thing is that it’s a friggn’ indictment of high-level wrong-doing.