The Fastest Growing Export of the Western Banking Industry is Fraud | zero hedge

Via James Tyler and zero hedge, The Fastest Growing Export of the Western Banking Industry is Fraud:

Politicians and bankers would do well to head the more than 200-year old words of Patrick Henry in his infamous “Give me liberty of give me death” speech:

“Mr. President, it is natural to man to indulge in the illusions of hope. We are apt to shut our eyes against a painful truth, and listen to the song of that siren till she transforms us into beasts. Is this the part of wise men, engaged in a great and arduous struggle for liberty? Are we disposed to be of the number of those who, having eyes, see not, and, having ears, hear not, the things which so nearly concern their temporal salvation? For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth; to know the worst, and to provide for it.”

Today, if politicians and bankers merely channeled the same amount of energy that they expend in deceiving the people into fixing the monetary system, then perhaps they would have already come up with a viable solution by now. To have the slightest fighting chance of resolving this crisis with a solution that benefits the people, politicians and bankers must be courageous enough to tell the public the worst of the truth and to provide for it. But fraud, and perpetuation of an illusion seems to be their only concern today.  And with good reason. After all, as illustrated by a recent Center on Budget and Policy Priorities study, they are the only ones benefiting from this fraud.  From 2002 to 2007, the top 1% of Americans captured nearly 70% of the income gains in America. Today, in my opinion, today, the number one reason why the vast majority of people still cannot except the possibility that we will soon enter into a second phase of this global economic crisis that will prove to be far worse than the financial disruptions we experienced in 2008 is the following: Most people alive today have no memory of the Great Depression. For those that do, certainly they are able to identify with much greater clarity, the similarities in the patterns of fraud back then and the patterns of fraud occurring today.

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