Goldman Sachs robbing americans blind.

Dylan Ratigan wrote:In a world where real competition, modern technology and lack of
special government standing means most American businesses have no
choice but to adapt and innovate -- Wall Streets wimps only apparent
skill is rigging the game.

In fact, on Wall Street there have
always been only two basic ways to make money. The first and most
difficult: Be a great investor -- to the best investors
go the
profits, rewarding those who are best at picking winning businesses for
America and punishing those who fail through the loss of their money.
The second, and seemingly preferred method, exploit those who know less
than you -- and take their money, even if you have to change the laws
to do so.

Now, this second business was much easier to pull off
prior to the internet and 24-hour exchanges etc. as technology is the
enemy of any business that makes its living overcharging customers who
don't know better or are given no other choice.

So bankers,
facing an onslaught of web-driven transparency and reduced
profitability during the last decade along with an increasingly
educated customer-base became anxious to change the laws in 2000 and
are even more anxious to protect those changes now.

While things
like stock and bond trading became a very low margin business because
of modern information -- the legalization in 2000 of a secretive market
for crooked insurance with no transparency or accountability has been
an absolute boon.

They called it credit derivatives -- where
banks and insurers offer to effectively "insure" financial assets. For
instance, they were used to insure much of the real estate and pension
liabilities in America the past 10 years.

To make money, the
banks exploit two loopholes. The first -- overcharge customers by
depriving them of the type of competitive pricing only possible on an
exchange like the New York Stock Exchange or Chicago Mercantile
Exchange.

And the second, exploit the lack of transparency to
hide the fact that you are keeping little or no money to pay claims
while selling insurance and collecting fees on every house and pension
payment in America.

The key to success here is that when there
is a default or claim against that so-called credit insurance -- the
banks keep all the past payment -- and the taxpayer under threat of
collapse pays off the claims while getting nothing in return.

This quite simply, is a brilliant way to steal our money.