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2012-07-08

'The mob learned from Wall Street': Eliot Spitzer on the 'cartel-style corruption' behind Libor scam

Vatic Note:   This is wonderful to hear.  The exposure of these banks at this point in time is great.  Hopefully it will stop all talks of world war.   Lets hope many go to jail for a change to try and convince we, the people, that the rule of law does exist for "everyone" and is enforced equally.  If not, then its open season for all of us to do whatever we feel like doing.   They talk about the corruption behind their "Busness Model" of these financial houses who are not really banks.


What was most interesting was the point that sophisticated big investors are getting burned from it which means it's now taken out of the pension  funds, and john Q. Public and into the bigger money and that is dangerous to the powers that be.  They can exert just as much pressure to prosecute as the banksters can to not prosecute, so they war internally on Wall Street truly has begun.  The banksters just got a bit too greedy for once and did themselves in. 

'The mob learned from Wall Street': Eliot Spitzer on the 'cartel-style corruption' behind Libor scam
Published on Jul 3, 2012 by 

Matt Taibbi, Rolling Stone contributing editor, and Dennis Kelleher, president and CEO of Better Markets, analyze the Libor interest rate-rigging scandal engulfing the banking industry with "Viewpoint" host Eliot Spitzer.
Tune in Weeknights at 8e/5p on Current TV
http://current.com/shows/viewpoint/

http://www.youtube.com/watch?v=1UG8RowZcks&feature=player_detailpage
The article is reproduced in accordance with Section 107 of title 17 of the Copyright Law of the United States relating to fair-use and is for the purposes of criticism, comment, news reporting, teaching, scholarship, and research.
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