DING

Marshall Auerbach sums up 30 years of failure:

The current crisis could have been mitigated if increased household consumption had been financed through wage increases and if financial institutions had used their earnings to augment bank capital rather than employee bonuses. The current system has failed because it was built on an incentive system that did just the opposite.

Instead, we get debt, investments in casino financial derivatives (the stock marekt, etc.), rapidly falling job/income quality, rising commodity prices, and the inevitable anger.  Hilarious:

A group of pensioners has been accused of kidnapping and torturing a financial adviser who lost over €2m of their savings. Mr Amburn (56) says he was burned with cigarettes, beaten, had ribs broken, was hit with a chair leg and chained up "like an animal".

Comments

[Guan Yang]

No waterboarding?

[Eminence Grise]

The banksters will be using that loot to provide security for themselves and their families. Not much sympathy for them in law enforcement circles...