Althecat's Letter From Tomorrow....

[althecat]

Althecat's Letter From Tomorrow....

Wellington: 28/1/08: Right then. Its Monday morning in the far - far east (just gone 9am... sunny and rosy warm) and here is the news...

.. global share markets bounce bank like bungy jumpers on news of agreement on a bail-out package for sub-prime mortgages.
.. a young trader in France and his family claim he is innocent to charges of stealing/losing $4.9 billion dollars from SocGen, France's second biggest bank.

Phew.

But what exactly does this monetary madness mean?

Last I heard - last week - this package gives tax cuts to shareholders = foreign stock holders and mutual funds + people who own stocks (and houses mostly too....) i.e. the wealthy + mutual funds.

In effect it gives $150 billion to banks - who if you recall are the people who made this mess in the first place by lending and purchasing mortgages to people who could not afford the interest and/or risk of the mortgage they received to pay off the credit card financed by the bank that met that cat that .... financed the house that jack lived in.

One thing for certain this is sure as hell not real money that can be used by Jack and Jill to pay their mortgage in - purely because it’s the state of the day - lets say South Carolina.

Meanwhile across the Atlantic France watches a fascinating case unfold of a young man accused of stealing $4.9 billion. He denies it. And I for one am inclined to give him the benefit of the doubt. Maybe someone threatened to kill his family. As they say in New Hampshire lets wait till the facts come into evidence.

But a message needs to be sent the French banking police and the financial media reporting their investigation:

Cui bono? Who benefits? Who are the counterparties to the transactions? How did they know to buy from SocGen? What did they know about the SocGen position? When did they know it? Why did they bet on a falling market this week?

Plus a message to SocGen shareholders:

Sack the CEO and the board - all of them - don't let them resign - and hold a full proper inquiry and found out how the hell this happened. If you just take the alleged kid perp's 5-6 managers you will still have a rotten apple.

F**k people can be stupid sometimes.

If SocGen lost $4.9 billion then someone made $4.9 billion last week.

And if they did so with the assistance of some fresh faced youngster then they almost certainly did so with the assistance of "inside information" (I.E. what George W. Bush had when he sold his shares in Harken Energy). These are the criminals. Find them.

Back in the America however there is an infinitely larger financial fraud taking place.

This fraud is no less a rip off than what happened in France last week but is hugely larger in its scope - more like a feudal land grab, or the clearances in England and Scotland.

The poor of America are having their land and security stolen from them by a corrupt and fraud ridden banking establishment which (surprise surprise) is finding nothing but comfort from an adminstration whose family fortune was built on corrupt fraudulent banking, trading with the enemy, espionage, drug dealing and organised crime.

All I can say is this.

Roll on real change.

It cannot come soon enough for your country.

God bless America. It needs it. It really does

:yourock:

All of you.

But just for God's sake get it together!

Al

(8.43am - Monday 28 January 2008)

(9.17am - Edited to fix some errors and make clearer...)

[autorank]

1. NZ - just a little ahead of it's time. But New Zealand is in better shape than we are.

Thanks to having a much higher degree of freedom of the press than we do.

Our mainstream media is impoverished intellectually but rolling in cash at the same time.

We need a letter from "tomorrow" and for 17 or the 24 hours in a day, you are tomorrow.

More of this.

Take a look at these ratings. We're not #1, that's for sure, but we should strive for
that.

World Audit (1 = top score, 2-n follow) Compares each nation relative to
150 others.

USA


New Zealand


What we need is common sense like this:

"If SocGen lost $4.9 billion then someone made $4.9 billion last week." Who stole the money is
presented as the end of the story. Who benefits? is right. What about the recipients of the
stolen money. Not this guy alone, not for the entire take. It's a convenient way to end a report.

More from tomorrow!

[althecat]

2. Thanks autorank.....

:hi:

[althecat]

3. ...

[HCE SuiGeneris]

4. Yet again accountability is sloughed from the shoulders of the truly accountable.

Kick and recommend

[reprehensor]

5. Insider Raiding.

Wheels within wheels within wheels.

Thanks for the letter, Al.

[JNelson6563]

6. Happy tomorrow to ya!

Good post. :toast:

Julie

[althecat]

14. Aha tis always tomorrow here...

Thanks

[scarletwoman]

7. Good post! Thank you! k&r (nt)

[Me.]

8. That Mythical $600 Bucks Is Our Chicken Nugget

To their whopper. And seriously, I'd like to do a poll somewhere along Sept. of people who actually receive any money. How do we know they will actually send out a dime? They can say they have, but will people compare notes? Maybe only one person will get it and they will make sure that person is interviewed. So really, I think it will be $600 billion - $600. Who seriously expected anything else?

On edit: You said $150 billion while 600 just jumped into my mind and onto my keyboard, so maybe the wink and nod isin effect there too.

[Melissa G]

9. It's tomorrow And summer where you are...

Today and Winter here...
Our news media ignores most of the equivalent questions to "Who gained the 4.9 billion". If you have enough money it's not really a crime. There are some other words for it that make it all okay with maybe perhaps, a minor wrist slap. Just ask the Hunt Brothers down here in Texas in the early 80's. Just 'Bidness" as we say here in the Lone Star State...

With an independent media we would be getting some Edwards coverage. An independent media might point out more about the super delegate king/queen making and the insecurity of our votes. An independent media would have exposed the insanity emanating from the white house long ago. We are sadly getting a kingdom for lack of an independent media. Getting a feudalistic kingdom and losing our democracy. Too sad, indeed.

[mod mom]

10. k + r

Thanks for the post, althecat :hi:

[EFerrari]

11. What are we going to do, al, vote them out?

K&R

[althecat]

12. Well at least try... and if that fails fix the election system and try again....

:)

Better than giving in methinks.

Rage against the dying of the light.

[Swamp Rat]

13. k&r

[Kurovski]

15. They should all just dress like pirates and punctuate their speech with

"Arrr".

No hell in the afterlife, no worries in this one. What was that Nike-ad saying, "go for it" "Do it"? What was that saying?

[althecat]

16. Just do it...