Banks Rob People Twice

 by Randi Rhodes

Foreclosures are on the rise and we paid $700 Billion to make that stop. It didn't stop. Banks robbed people! TWICE!

Brainiacs and financial gurus are cautiously telling me what's gone wrong in banking, investment banking and insurance companies. They never fail to begin with "It's very complicated". When they explain it to you they do so in low voices as if you shouldn't be hearing this. They say it as slowly as possible as if this allows "idiot non financial types" their best chance for comprehending what they view as the seriously difficult subject of "Financial Markets" They expect you to react with the proper amount of awe due any discussion of "Financial Markets" and "Financial Instruments:" Then, you are to respond and the only proper response, the only response that will satisfy your "financial friend" is the "Lawn Mower Man" response. In a hushed but awakened voice, a tone that indicates that you've just absorbed all the knowledge in the world, you must say "I never knew it would be so complex". So I did.

But then I thought about it. If it's too complex to explain chances are its astronomy or bullshit. The financial world is full of absurd rules, products with unintelligible names "Credit Default Swaps" "Derivatives" "Synthetic Assets" and penalties. But in the end it's just a game played by institutions (like casinos) and people with money (investors) instead of muscle. It's like football without a helmet. There are tons of obscure rules, strategies and explanations for what went wrong after the game. Crowds and fans are equally invested in the outcome of either game.

http://www.huffingtonpost.com/randi-rhodes/banks-rob-people-twice_b_143945.html