QUESTION: The supporters of the left side and of the state/public sector always mention that the private sector is the one that suffers as in general (ex. 2008/2009 AIG case) the public always comes at the end as a fire brigade to save the world.
How would we answer technically to all these people?
ANSWER: They should look at Russia. when everything collapsed, there were SECRET military installations where the upper-class politicians lived lavishly hidden from the public. The left is absolute fools to think for a split-second that the type of government makes a difference. The bailouts are part of the corruption. This is not even capitalism nor socialism — just raw corruption.
The bankers were encouraged by the Clintons to lend money so everyone could own a home. The bankers have long since abandoned relationship banking and moved to transactional banking which I have written about in-depth. Banks, once upon a time, made loans and retained those loans. There was a relationship between the borrower and the bank. The bankers got the Clinton’s to repeal Glass Steagall and Larry Summers and Robert Rubin, ex-Goldman Sachs, ushered in the new era. The bankers could make the loans and then package them and sell them off to investors. Because the bankers could care less about the quality of the mortgage, they just wrote whatever they could to sell to an unsuspecting market of investors.
You are convicted of certain misdemeanors and any felony within a period of ten years from the date of conviction, you lose your Series 7. Banks can be criminally prosecuted many times and the SEC always exempts them from any such restrictions they would impose on a registered person otherwise. The SEC is as corrupt as you could ever imagine. There is never any equal protection of the law because they never treat people the same.
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