gunning for the banksters

[eri]

"Mafia organizational structure relied on insulating leadership positions from government prosecution through the use of expendable soldiers. Soldiers were expected to suffer through periodic arrests, incarceration and violence associated with the illegal acts on which these criminal enterprises depended. But because the compensation for soldiers was high relative to their other employment prospects, crime families could maintain adequate staffing in the soldier class."

To objections that that's nothing like the way the modern financial sector is organized, Peterson points out some uncomfortable similarities.

"In residential mortgage-backed securitization deals, the management of investment banks insulated themselves and the bonuses they received through the use of less powerful, less capitalized mortgage origination and brokerage companies. Like Mafia soldiers, mortgage brokers and originators were expected to commit or abet fraud, violate sound underwriting practices, and ignore or undermine consumer protection statutes."
....

The big banks have done more economic damage since 2007 than the combined total of all bank heists in the history of modern banking. "Banksters" endanger the global economic system by rigging interest rates and constructing shaky derivatives. When robbers hit a bank, depositors don't lose money. Nor does the stock market crash.http://www.japantimes.co.jp/text/eo20120824a1.html

[props4u]

The big banks have done more economic damage since 2007 than the combined total of all bank heists in the history of modern banking. "Banksters" endanger the global economic system by rigging interest rates and constructing shaky derivatives. When robbers hit a bank, depositors don't lose money. Nor does the stock market crash
http://www.japantimes.co.jp/text/eo20120824a1.html

first i hear of term "banksters" ... a classier way of saying turbides ... i luv it ... albeit, they're none other than smarmy classy turbides!