Sometimes you read an article and are struck dumbfounded by a sort of “paradigm conditioning” that seems to prevent cognitive insight.

Not only should OeBB appeal the court ruling that Deutsch Bank AG “didn’t disclose the risks associated with the derivatives” but they should file charges that they were defrauded by Deutsch Bank, who offered CDO’s that were fraudulently rated, and THEY KNEW IT.

OF COURSE this is a punishible offense in any other universe and at any other time than in today’s misguided world!

This is the point that former S&L regulator Bill Black brought up weeks ago that just doesn’t seem to be sinking in. Perhaps we’ve been conditioned to see these “venerable institutions” as being beyond reproach, and so we fail to see that they are simply playing a “blame shell game” while being rewarded with billions in extorted taxpayer funds for committing FRAUD.

First they claim they didn’t know that the debt was not secured, or that underwriters were following the financial reward system in place to commit fraud, then you “collateralize” title to these inflated streams of unrepayable debt so that the original fraud can’t be traced, then you commit further fraud and collusion with your rating agency, who you pay to bless the paper (which they fraudulently do) then you sell these derivatives and collect exhorbitant fees … and then—let me get this straight now—you don’t warn the buyer of any risk in that transaction, and a court upholds that this is perfectly legal? And furthermore, you’re granted government bail–out billions when it all falls apart?

Sadly, this is the current state of affairs in our latest Fascist version of no-risk capitalism. But then, that’s the sort of outrage that spawned this blog–which I hope will help validate the “correct” thought processes on how to deal with these banks, and these so-called “regulators”.

I think there’s the potential for many, many, many 401 K plans and pension funds and investors to file suit. As long as we’re NOT putting these banks into bankruptcy protection, sue the living daylights out of them and make the pigs fail that way–it may be the only way you’ll ever see any of that money, and you’re really gonna need it to pay the new taxes that are coming along with hyperinflation.

As long as the culpable are “protected” then of course it’s all legal and proper, but it’s time for that wall of protective cover to come down. The old ”safety in numbers” school of thought regarding massive coordinated fraud between underwriters, ratings agencies, investment advisors and regulators needs to be put to bed permanently.

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