The creeping decline of Western Finance has been exposed for what it is: a combination of greed, and devious profit making schemes made possible only by the negligence of regulatory agencies and complicit government authorities. The “Too Big to Fail” banks now control assets equal to 60% of the US annual GDP. Congress will do nothing that seriously impedes their money making games in the securities markets. And in spite of President Obama’s speeches threatening reform, no real action is begin taken to rein in those who manufactured all the bad loans, packaged them into bogus AAA rated securities, and then bet against them with liberal “credit default swap” insurance policies backed inevitably by the US taxpayer. It was a system designed to fail and yield profit at both ends of every deal. And it failed as designed, but with repercussions even the dark hearts of Goldman Sachs could not foresee...
