Bailout Faltering ,Banker Arrests Beginning

Not only has the direct democracy of Iceland said NO to the bailout .It has started ARRESTING THE GUILTY BANKERS!!!! Meanwhile in representative democracys (elected Dictatorships) of the UK, USA and EU , we still bailout the corrupt banks and we still pay them bonues.

Iceland: Int’l Arrest Warrant Against Top Bank Official
by Lowana Veal (reykjavik)Wednesday, May 12, 2010
Inter Press Service
Vigorously pursuing those allegedly responsible for Iceland’s 2008 financial crisis, investigators have got issued an international arrest warrant against Sigurdur Einarsson, chairman of the board of governors of the failed Kaupthing Bank.

An Interpol notice on Tuesday said Einarsson was wanted on charges of counterfeiting, forgery and fraud.

Einarsson, who lives in London, was said to be reluctant to come to Reykjavik for fear of being arrested and Icelandic authorities have refused to offer any assurances.
http://www.globalissues.org/news/2010/05/12/5564
Yet another day of Iceland banking arrests
Posted on11 May 2010.
Ingolfur Helgason, the former Director of Kaupthing Iceland, and Steingrimur Karason, former CEO of the bank’s risk management department, were both arrested today upon arriving back in Iceland. They went straight to interrogation with the Special Prosecutor and are being held in police cells.
http://www.icenews.is/index.php/2010/05/11/yet-another-day-of-iceland-banking-arrests/

Bankers jailed, sued as Iceland seeks culprits for crisis
Since Iceland’s three largest banks — Kaupthing, Landsbanki and Glitnir — collapsed in late 2008, their former executives and owners have largely been living untroubled lives abroad.
But the publication last month of a parliamentary inquiry into the island nation’s profound financial and economic crisis signaled a turning of the tide, laying much of the blame for the downfall on the former bank heads who had taken “inappropriate loans from the banks” they worked for.
On Wednesday, the administrators of Glitnir’s liquidation announced they had filed a two-billion-dollar (1.6-billion-euro) lawsuit in a New York court against former large shareholders and executives for alleged fraud.
http://www.breitbart.com/article.php?id=CNG.4090f16a5abf84c5a5adff0665cbc792.3a1&show_article=1

GREEKS START INVESTIGATING GOLDMAN SACHS ,….OTHERS LOOK TO FOLLOW
‘Vampire Squid’ Goldman Sachs confesses it is being investigated for helping Greece hide its debts
Goldman Sachs has admitted that it is under investigation for helping Greece to hide its vast debts.
The controversial Wall Street bank – nicknamed the Vampire Squid because its tentacles stretch far and wide – is accused of having profiteered out of a complex currency deal that helped Greece massage its finances.
In a regulatory filing in the U.S., Goldman disclosed that is ‘subject to a number of investigations and reviews by various governmental and regulatory authorities’ in connection with its financial transactions with Greece.
The European Commission has already been probing the bank’s relationship with Athens. It is unclear from the disclosure, how many other countries might be looking into its dealings with the Mediterranean state.
The Wall Street giant is claimed to have received as much as £192m in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan.
The so-called ‘swap’ deal helped Greece meet eurozone limits on government borrowing.
Read more: http://www.dailymail.co.uk/news/worldnews/article-1277038/Goldman-Sachs-probed-financial-transactions-Greece.html#ixzz0nmuXrpnP
IS THE DEBT A FRAUD?
Greek Bondholders “Fooled” or Goldman Sachs Committing Fraud?
Today, she questions why Bloomberg prefers to only discuss the Goldman Sachs-Greece cross currency swaps subterfuge as a sort of foolishness, rather than taking a much more serious tone.
Smith takes Bloomberg to task for using “fooled” when “more obvious F-words, like ‘Fraud’ (as in defrauded) or ‘fleeced’” should have been considered. Then, she digs into her banking experience to relate how to her it seems nearly impossible that Goldman wouldn’t know the nature and extent of the Greek swaps contracts when the bond offering was issued.
http://dailyreckoning.com/greek-bondholders-fooled-or-goldman-sachs-committing-fraud/

Eight banks are facing a US investigation into the rating of their mortgage products, the BBC understands.
New York Attorney General Andrew Cuomo is looking at whether the relationship between the banks and credit rating agencies was manipulated to gain a better ratings for risky securities.
The banks under investigation are believed to include Goldman Sachs and Morgan Stanley.
Bad US mortgage debt was one of the main causes of the financial crisis.
This is because much of the investments were repackaged into wider debt offerings and then resold around the world.
http://news.bbc.co.uk/2/hi/business/10115471.stm

ECUADOR DECLARED ITS DEBT FRAUD AND ILLEGAL AND DEFAULTED
In November 2008, Ecuador became the first country to undertake an examination of the legitimacy and structure of its foreign debt. An independent debt audit commissioned by the government of Ecuador documented hundreds of allegations of irregularity, illegality, and illegitimacy in contracts of debt to predatory international lenders. The loans, according to the report, violated Ecuador’s domestic laws, US Securities and Exchange Commission regulations, and general principles of international law. Ecuador’s use of legitimacy as a legal argument for defaulting set a major precedent; indeed, the formation of a debt auditing commission sets a precedent.

http://www.projectcensored.org/top-stories/articles/10-ecuador-declares-foreign-debt-illegitimate/

THE FRAUD EXPLAINED

http://cuthulan.wordpress.com/2010/05/09/bank-corruption-and-fraudthe-who-the-how-and-the-why-and-the-simple-solution/

HERE IS HOW THE IMF SET THEM UP
Greg Palast Tells How The IMF Set-Up Iceland & Greece on Alex Jones Tv 1/2
http://eclipptv.com/viewVideo.php?video_id=11751

Greg Palast Tells How The IMF Set-Up Iceland & Greece on Alex Jones Tv 2/2
http://eclipptv.com/viewVideo.php?video_id=11752&title=Greg_Palast_Tells_How_The_IMF_Set_Up_Iceland__amp__Greece_on_Alex_Jones_Tv_2_2&vpkey=7b68279aad

Fractional Reserve Banking System Basis of Bankster Fraud
Stock-Markets / Credit Crisis 2009
Oct 10, 2009 – 02:52 PM
 
By: Gary_North

The heart of the modern monetary system is fractional reserve banking. This system is based on fraud. At the very heart of the modern economy is fraud – fraud on a gigantic scale.

What is the nature of this fraud? Counterfeiting. Banks are government-licensed institutions that issue bogus IOUs. Because these IOUs function as money, they are counterfeit money. This is the heart, mind, and soul of all modern banking

http://www.marketoracle.co.uk/Article14123.html

Bradford & Bingley Nationalised Another UK Bank Wiped Out by Tulip Backed Securities

The reason why the banks are going bust in simple terms is:

The banks traded in complex derivatives products between themselves, in what is termed as the over the counter market. The exposure to the Securitized debt packages was further exaggerated by the use of leverage of in many cases more than 30X the banks assets against valuations based on complex models that inflated the packages values during the boom times which allowed huge profits and bonuses to be banked (Fraud?). However the critical point is in the final link in a long chain of sliced and diced debt packages was the US housing market.
http://www.marketoracle.co.uk/Article6498.html

THE GREEKS DO NOT WANT TO PAY THIS DEBT .THEY ARE NOT LEGALLY OR MORALLY RESPONSIBLE FOR THIS DEBT.IF THE DEBT IS ILLEGAL THEN ,THEY ARE NOT RESPONSIBLE FOR IT. ITS THIER GOVERNMENT(ELECTED DICTATORS) THAT IS SELLING THEM INTO DEBT SLAVERY!!!
Greek demonstrators say “Plutocracy should pay for the crisis
Thousands of Greeks have taken to the streets to show their rejection of the government’s proposed austerity measures, which are supposed to right the country’s flailing economy.
So they’re wondering how the country managed to amount 300 billion euros of debt – what was that money spent on? Certainly not, they say, on public services or roads. The protestors have the impression that politicians robbed the country blind. With the former government, there was a corruption scandal every two months. So talk of wasted money is still rife. The former health minister ordered 16 million doses of the H1N1 flu vaccine, but only 400,000 were needed in the end.  

I saw the slogan ‘plutocracy should pay for the crisis’ – which pretty much sums up the feelings of the protestors.”
http://observers.france24.com/en/content/20100224-greek-demonstrators-say-plutocracy-should-pay-crisis-austerity-plan

WHY ARE WE NOT DOING THIS??

THE IRISH GET THE IDEA……..
Protestors attempt to storm Dáil
12/05/2010 – 07:37:34

An attempt was made last night to storm the Dáil but protestors failed to breach security measures at the gate.

Around 100 people marched to Kildare Street in protest at the Government’s plans to inject billions of euro into the country’s banks.
http://www.thepost.ie/breakingnews/ireland/eyojqlmhkfmh/

THAI PROTEST LEADER SHOT , THE GOVERNMENTS ARE GETTING DESPERATE!

Thai protester shot, killed during violent clashes with police
 A leader of anti-government protests in Thailand was shot in the head while being interviewed at the demonstrations, according to Tom Fuller of the International Herald Tribune told CNN he was interviewing Seh at the time of the shooting.

[Updated at 9:26 a.m.] Witnesses said the gunshot appeared to come from a rooftop in a corner of Bangkok’s Lumpini Park, where protesters have amassed
http://news.blogs.cnn.com/2010/05/13/explosion-heard-near-bangkok-protests-site/?iref=allsearch

WHEN THE ELECTED DICTATORS START SHOOTING THE PEOPLE , WE KNOW WE HAVE THEM SCARED AND NERVOUS

HERE’S A SHORTLIST OF STATE SPONSERED MURDERS ,BEATINGS AND FALSE IMPRISONMENT

http://cuthulan.wordpress.com/2009/09/28/western-police-states-murder-inc/

ENJOY YOUR FREEDOM PEASANT!!!

YOUR GOVERNMENT IS CORRUPT, BRIBED ,BLACKMAILED AND IS SERVING THE INTERESTS OF BIG BUSINESS .  THE REAL REASON FOR THE BAILOUT ,TO CREATE A NATION OF DEBTOR SLAVES
The Ulterior Motive Behind the Greek Bailout
Politics / Global Debt Crisis
May 04, 2010 – 07:37 AM
By: Sol_Palha
So who are they protecting, the answer is simple; the bond holders. Roughly, 80% of this debt is foreign owned and a large portion of this is held by German and French Citizens. Bottom line this rescue package is not for Greece, but it’s a rescue for Greek bond holders worldwide. If Greece were to default tomorrow, it would not disappear, but its debt holders would be seriously hurt. Thus behind all this noise one must understand that the main reason for the bailout is to protect the bondholders; the exact same story unfolded in the US, the only difference being that it was a bailout of the banking industry. As the Germans and French hold a very large percentage of these bonds, it is actually a bailout of Germany and France and not really Greece. They should let Greece’s default but they will not.

ARGENTINA DEFAULTED ON ITS DEBT IN 2001 ,ITS DOING BETTER THAN EVER TODAY
Even though Argentina defaulted on its debt, it is still around. Yes it did pay the price initially by being shut out of the global capital markets for years, but it did not vanish and only its foreign debt holders lost.
http://www.marketoracle.co.uk/Article19180.html

ARGENTINA’S SOLUTION DIRECT DEMOCRACY AND LIBERTARIAN IDEALS FREES THE ARGENTINE PEOPLE OF DEBT
After the non-violent collapse of the Argentinean government in 2001/2002, the social and economic organization of Argentina has undergone major changes, though how important these changes are remains to be seen. Worker occupations of factories and popular assemblies have both been seen functioning in Argentina, and both are the kind of action endorsed by anarchists: the first is a case of direct action and the latter a case of direct democracy. Approximately 200 “recovered” factories (fábricas recuperadas) are now self-managed and collectively owned by workers. In the large majority of them, pay is completely egalitarian; generally no professional managers are employed, or managers are collectively controlled in the other cases. These co-operatives have organised themselves into networks. Solidarity and support from external groups such as neighborhood assemblies and unemployed (piquetero) groups have often been important for the survival of these factories. Similar developments have taken place in Brazil and Uruguay.[6] In 2004, Avi Lewis and Naomi Klein (author of No Logo) released the documentary The Take, which is about these events.

WE HAVE BEEN HERE BEFORE , PLEASE TAKE ANDREW JACKSONS ADVICE!
“Never take counsel of your fears.”
 The Jacksonians opposed government granted monopolies to banks, especially the national bank, which was a central bank known as the Second Bank of the  United States. Jackson fought to end the government monopoly to the Bank and got great opposition from Nicholas Biddle, the bank chairman. Biddle first  dismissed Jackson efforts, but as the initiative gained popular support, he got more concerned. There was an attempt to murder Jackson at that time but the  pistols failed. Jackson would later claim that he had proof the bankers were behind this attempt. Jackson was able to gain popular support because the Bank  money manipulations and inflation had created a big recession, and it had inflated land prices, benefiting big land owners and stopping economical  development. In a last attempt to stop Jackson, Biddle burst the bubble his inflationary policies had created, and brought about a deflationary correction.  This put pressure on Jackson, but after a year of recession, the economy was clean by the deflationary correction, and the Bank was out of “ammunition”.  Jackson had won the battle. The Bank continued his operations as a state bank, but had to close years after. Once retired, everytime Jackson was asked what  was his biggest achievement as president he answered: “I killed the Bank”.
http://en.wikipedia.org/wiki/Jacksonian_democracy

ANDREW JACKSON was the ONE president that CLEARED AMERICAN DEBT ,when faced with financial ruin How did he manage it?

The Bank is trying to kill me, but I shall kill it!”

ANDREW JACKSONS VIEW OF THE BANKS….NO BAILOUT.

You are a nest of vipers and thieves, and by the grace of the almighty God, I will root you out!”

ANDREW JACKSON’S VIEW ON CORPORATIONS

Corporations have neither bodies to kick nor souls to damn.

ANDREW JACKSONS VIEW ON THE BRIGHTEST AND THE BEST

Hemans gallows ought to be the fate of all such ambitious men who would involve their country in civil wars, and all the evils in its train that they might  reign & ride on its whirlwinds & direct the Storm– The free people of these United States have spoken, and consigned these wicked demagogues to their proper  doom.

NO BAILOUT ,ARREST CRIMINAL BANKERS AND POLITIONS.

ICELAND ,GREECE , THIALAND , ARGENTINA ,ECUADOR, IRELAND …WHO WILL BE NEXT TO SAY “NO!!”?

JOE STACK SAID “NO” IN THE USA …THE AVERAGE JOE STACK ATTACK!!

http://cuthulan.wordpress.com/2010/02/20/the-joe-stack-attack-born-free-and-taxed-to-death/

GOVERNMENT MAKING MONEY ON WAR

http://cuthulan.wordpress.com/2009/10/12/us-government-making-a-killing-on-war/

WHY DON’T THE GOVERNMENT GO ON STRIKE?

http://cuthulan.wordpress.com/2010/01/11/government-should-go-on-strike-to-prove-they-are-worth-thier-money/

GOVERNMENT A COMPLETELY CORRUPT INSTITUTION

http://cuthulan.wordpress.com/2010/01/07/uk-government-blackmailed-into-war-blair-covers-mps-paedophile-ring-and-the-dunblane-massacre/

BURGER EATING WAR MONKEYS

http://cuthulan.wordpress.com/2010/02/07/where-have-all-the-burger-eating-war-monkeys-gone-cry-havoc-and-unleash-the-dogs-of-war-crimes/

THE SIMPLE SOLUTION

http://cuthulan.wordpress.com/2009/11/04/libertarian-vs-authoritarian-todays-real-politic/

HOW  MANY MORE LIVES WILL IT COST BEFORE WE END THE CORRUPT ELECTED DICTATORSHIPS AND INSTALL DIRECT DEMOCRACY AND DISBAND OUR  TAXPAYER FUNDED INVASION FORCES AND INVEST IN PEACE.

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22 Responses to Bailout Faltering ,Banker Arrests Beginning

  1. It is about time English bankers were prosecuted and/or made responsible for all the destruction, damaged lives and suicides they have caused due their under-handed and fraudulet way they have treated a lot of their customers.

    • cuthulan says:

      Too True ,Marion. Hopefully we are seeing the tide turning. Maybe the bankers will start jumping out thier windows now? So if you are anywhere near Wall Street wear a hard hat ..how did that song go again….. “Its raining bankers”
      OR
      (sung to the Monkees theme)
      Here we come…
      Buying up your street…
      get the filthest looks from..
      Everyone we meet

      Hey Hey we’re the bankers!
      We just like banking around
      We’re too busy banking
      To check its finacially sound

      We’re not trying to be friendly
      and don’t believe a word we say
      we bribed all the politions
      so we’re gonna make the people pay!

      a suggested them tune for the Federal Reserve
      “I’m forever blowing bubbles”

  2. Ha ha very good! One of the best laughs for ages and the lyrics, well that’s something else! Share it on Twitter and Facebook

    • cuthulan says:

      LOL.. glad you like it. Don’t have a twitter account or a Facebook page. I’m waiting for a “In-Your-Facebook” page. Please feel free to twitter on, just post a link ;-)
      As you like my “banker song” Just for you , here’s my tribute to the Afghan war. “The Taliban Can”

      (sung to the theme of “The Candyman can”)
      Who can take a country , turn it back in time ?
      making woman’s lib ,into a capital crime?
      The Taliban……..the Taliban can
      the Taliban can ,cos they got a beardy man, who’s into Ramadan
      CHORUS (Ramadan)
      the Taliban can ,cos they got a master plan , to make the world Islam
      CHORUS (make the world Islam)

      Who can take a country , start a global war?
      Making lots of money like a corporation whore ?
      the Neo-cons ………..the Neo-cons can
      the Neo-con can , cos they got a stupid man , who thinks its all gods plan
      CHORUS (all gods plan)
      the Neo-cons can , cos they got a masterplan , to bring on Armeggeddon
      CHORUS (Armeggeddon)

      Who can take a party , turn it on its head?
      Cheat and steal and LIE about everything he said?
      Tony Blair …..Tony Blair can
      Tony Blair can , cos he’s such a sleezy man ,he’s like a non-stick pan
      CHORUS (non-stick pan)
      Tony Blair can, cos he’s got a masterplan , to become historys man
      CHORUS (historys man)

      If we are going to have a revolution ,I’m determined to have a good soundtrack….of course “Rage against the Machine – Killing In the Name of ” making it as christmas No.1 instead of the X-Factor winner ,just shows how powerful WE THE PEOPLE really are.
      Jon Morter, 35, a part-time rock DJ and logistics expert from South Woodham Ferrers, near Chelmsford, decided it would be a bit of a giggle to start a campaign to encourage people to buy a record with pretty much the opposite vibe to the X Factor winner’s ballad.
      Killing In The Name, an expletive-heavy rock song first released in 1992 by the Californian rock band Rage Against the Machine, won the battle for Christmas top spot on the basis of downloads only.
      the Rage track is best known for its now-ironic refrain: “Fuck you, I won’t do what you tell me.”

      http://www.guardian.co.uk/music/2009/dec/20/rage-against-machine-christmas-number-1

      I also noticed that John Lennons crimbo classic never get much airplay these days…wonder way …..how did it go again…”War Is Over”?

  3. [...] Cuthulan's Blog The Bard from the bar. Scottish views ,news and spews « Bailout Faltering ,Banker Arrests Beginning [...]

  4. [...] AND TODAY THE THEFT CONTINUES WITH THE BAILOUT OF CORRUPT AND INCOMPITANT BANKERS!!! IF SOME INCOMPITANT HAD JUST LOST MY LIFE SAVINGS ,GAMBLING ON THE STOCK MARKET CASINO, WOULD I THEN GIVE HIM THE MONEY I HAD SAVED AND PUT ASIDE TO PAY FOR THE BILLS ,RENT , ELECTRIC ,MEDICAL ETC?!OF COURSE NOT!!! …WELL IF YOU DID THEN YOU ARE A F*CKING IDIOT… OR A BANKER , OR THE US OR UK GOVERNMENT!!! DO YOU THINK THAT THE WORLD WILL WANT TO INVEST IN THE ,POST RECOVERY ,USA OR THE UK ,WHILE ITS FINANCIAL INSTITUTIONS ARE STILL BEING RUN BY INCOMPITANT AND IRRESPONSIBLE PEOPLE THAT REPEATEDLY BANKRUPT THIER BUSINESSES!!??? THE GOVERNMENT SEEMS TO THINK SO!!! SOLUTION? DEFAULT TODAY AND ARREST THE FRAUDULANT BANKERS AND THEN WE ARE ALL DEBT FREE!!!! Just like ICELAND is debt free today or Ecuador or like Argentina became debt free by defaulting in 2001!! http://cuthulan.wordpress.com/2010/05/14/bailout-faltering-banker-arrests-beginning/ [...]

  5. [...] http://cuthulan.wordpress.com/2010/05/14/bailout-faltering-banker-arrests-beginning/ Eggs hit Prime Minister, Jóhanna Sigurðardóttir, who rode into power as Iceland’s most beloved political leader with a 75% approval rating. [...]

  6. [...] Icelanders did , held a referendum and told the government NO WE ARE NOT BAILING OUT THE BANKERS!! http://cuthulan.wordpress.com/2010/05/14/bailout-faltering-banker-arrests-beginning/ Instead we have been sold into debt slavery and the only way to say NO is to take too the [...]

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