Wednesday, March 28, 2012
Cascade of Whistle Blowers on the Way
Greg Smith, the South African ex-Goldman Sachs employee it appears has ulterior motives as his book becomes the center of a bidding war!
Here's his NYTIMES story:
With his banking career in tatters, Smith is writing a "memoir"!
Most likely his book will revolve around the fancy lunches, the glamorous bars and restaurants, the strip clubs and all of that banking nonsense.
Smith is just one of a CASCADE of whistle blowers that are LINING UP to spill the beans on insider fraud that is endemic in many of our TBTF (Too Big To Fail) "institutions".
Indeed the Dallas Fed just published its annual report (see link) regarding the TBTF issue and how these banks are creating serious market risk and NEED TO BE BROKEN UP as soon as possible with MASSIVE PUBLIC LOSSES and PRIVATE PROFITS locked in for those deep inside the system!
Recent commentary on financial and commodity boards (one of which was taken down 24 hours ago from the CFTC comment section - see link below) refers to DERIVATIVES and how they are priced, controlled and MANIPULATED to the benefit only of those at the TBTF banks.
The phrase of the day today is "CASCADING CREDIT EVENT", kind of like dominoes falling due to one simple trigger - Greece or Ireland or Spain defaulting!
HDD predicts that the June referendum in Ireland will reflect the people's REJECTION OF THE IMF-COLONIALIST approach to the country, causing a trigger event at some level.
All of these TBTF bankers know the system is weighed down with DEBT, DERIVATIVES, and CORRUPTION. What they also know is that time is running out, like a egg timer and they want to get out before its TOO LATE!