I Found A Good Use For The Patriot Act
The Market Ticker ® - Commentary on The Capital Markets
Posted 2011-06-02 09:10
by Karl Denninger
in Editorial
Ignore this thread
I Found A Good Use For The Patriot Act
 

... and "extraordinary rendition" while we're at it.

We can use it on Goldman Sachs and their executives!

Goldman Sachs Group Inc. (GS) won’t face criminal prosecution related to sales of mortgage-linked securities because such a move could threaten the U.S. financial system, according to Brad Hintz, an analyst at Sanford C. Bernstein & Co.

That sounds like someone's saying that Goldman has effectively extorted the United States Government.

Isn't that the definition of terrorism?  Do what I want or unbridled Hell (of some form) will be visited upon your nation.

Hmmm.... that's terrorism, isn't it?  And isn't The Patriot Act supposed to stop terrorists?

Well?

In all seriousness folks, can someone explain why the American public tolerates businesses that are able to behave in this fashion, and fails to demand that they be closed down?

It's not enough to have the risk of making bad decisions and losing your shirt; that's something everyone who is involved in business has to deal with.  But there's a huge difference between that and a firm that effectively has a license to steal, in that irrespective of its behavior it will never face criminal prosecution.

How many times would your local convenience store be robbed (per hour) were there no criminal prosecution, and the robber was only required to pay a fine that was no larger than their loot were they to be caught?

That's what we are allowing in our "financial system" (and elsewhere, particularly in the pharmaceutical industry) and that we the people have allowed this to occur is an outrage.

The difference between sex and******is consent.

When it comes to being "financially sexed" the American public has and continues to consent.

Discussion below (registration required to post)
 

Main Navigation
Full-Text Search & Archives
Archive Access
Get Adobe Flash player





Blogtalk 3:30 CT Mondays
Items To Look At


Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.

Where We Are, Where We're Heading (2013) - The annual 2013 Ticker

Links and Blogroll
Our policy on reciprocal links: Send us an email with your information and why you think your blog or news site would make a good addition - in most cases reciprocal link requests will be granted.
Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Looking for "The Best of Market Ticker"? Check out
Ticker Classics.

Visit the forum to discuss this and other investing-related topics; see the FAQ on the forum for information about Gold Donor status including access to our technical analysis video server.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

The Market Ticker content may be reproduced or excerpted online for non-commercial purposes provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media or for commercial use.

Submissions may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Leads on stories of current economic and political interest are always welcome. Our fax tip line is 850-897-9364; please include contact information with your transmission.

 
Comments.......
User: Not logged on
Login Register Top Blog Top Blog Topics FAQ
Showing Page 1 of 3  First123Last
User Info I Found A Good Use For The Patriot Act in forum [Market-Ticker]
Guydaley
Posts: 15320
Incept: 2007-07-10
Green A True American Patriot!
Wyoming only ATM
Banned
Report This As A Bad Post Add To Your Ignored User List
Quote:
In all seriousness folks, can someone explain why the American public tolerates businesses that are able to behave in this fashion, and fails to demand that they be closed down?


In all seriousness, its because they are at the top of the Maslows Hierarchy of Enslavement Pyramid and all those below, protect their status.

----------
Its called creeping TEOTWAWKI. Just because it doesn't happen all at once doesn't mean it isn't happening.
Blackswan
Posts: 5564
Incept: 2007-11-06
Gold
Just outside of Philly
Report This As A Bad Post Add To Your Ignored User List
Don't forget about the banks funding terrorists by providing money laundering.


----------
“It’s checkmate. Everywhere it’s checkmate.”
Hugh Hendry
Tesla
Posts: 15543
Incept: 2008-04-03
Green A True American Patriot!
State of Disbelief
Report This As A Bad Post Add To Your Ignored User List
Great idea ! Can we make citizen arrests under the Patriot Act ?

----------
"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes

"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
Captainkidd
Posts: 594
Incept: 2010-05-25
Silver
Pasadena, Texas
Report This As A Bad Post Add To Your Ignored User List
I thought The Obama said that Too Big to Fail was to be broken up.
I thought that it was all fixed so that no single company could bring down the entire system.
I thought that there was no fraud, only some irregularities in the paperwork that were being blown out of proportion by the extremists.
I thought we lived in a country that believed in the rule of law, and that all were equal under it.

I thought that.......Oh, **** it. Just forget it.

Inline

----------
A lawyer with a briefcase can steal more than a thousand men with guns. --Mario Puzo

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -- Henry Ford

Reason: Fix Picture Post
Jstanley01
Posts: 8182
Incept: 2008-07-30
Silver A True American Patriot!
San Antonio, Texas
Report This As A Bad Post Add To Your Ignored User List
Hintz wrote..
"In a worst case environment, we would expect a 'too big to fail' bank such as Goldman to be offered a deferred-prosecution agreement, pay a significant fine and submit to a federal monitor in lieu of a criminal charge."
I have no doubt after the big scare the banksters had, that they have learned their lesson and they'll never do it again.

I mean, after the biggest fraud in the history of the planet that they were perpetrating blew up in their faces, heck. For a few days there they were in danger of actually going broke. As a matter of fact, it might have been actual WEEKS.

And look at the quote, they are going to "pay a significant fine." See the wording? "Significant"? Oh yeah, after that kind of punishment I'm sure they'll never, ever, ever do it again.

Cross their hearts, hope to die, stick a needle in their eye.

----------
You can't cheat an honest man. ~P.T. Barnum

Jimg
Posts: 180
Incept: 2009-02-04
Green
Dunedin, FL
Report This As A Bad Post Add To Your Ignored User List
Goldman Sachs didn't commit fraud. People employed by Goldman Sachs did. These people need to go to jail. That will not bring down the company.
Pcaldallas
Posts: 1343
Incept: 2009-03-02
Silver
Unicorn Ranch
Report This As A Bad Post Add To Your Ignored User List
Quote:
...pay a significant fine



Won't they be paying that fine with our money that was gifted to them by the Fed? Damn it feels good to be a gangster.

----------
"The appearance of law must be upheld, especially when it's being broken." - Boss Tweed, Gangs of New York
Eli
Posts: 7215
Incept: 2007-09-10
Silver
Report This As A Bad Post Add To Your Ignored User List

At this point, I think it is much more likely that Goldman is already using the Patriot Act against us all rather than the other way around. Within the PR department of Goldman they probably have people scouring the net and forums just like this looking for people who are too critical of what they do. They then gather that information and pass it along to the justice department and the FBI and then they open a file on those who threaten them.

After all these evil ****s are doing god's work, so what if they work for the god of mammon. After all the financial well being of the Nation depends on them doing all their good deeds. And there are now many Terrorists who oppose their work.


****ing scary, because it is probably true.


----------
If you want a vision of the future, imagine a boot stamping on a human face - forever.
George Orwell

Dmj625
Posts: 436
Incept: 2010-03-01
Green
New Orleans, LA
Report This As A Bad Post Add To Your Ignored User List
"Sounds to me like you guys are a couple of bookies"

http://www.youtube.com/watch?v=g4Uv4ftek....

----------
"The more that laws and regulations are given prominence, the more thieves and robbers there will be."
-Lao-tzu
Joshua_d
Posts: 163
Incept: 2010-08-26

Lenoir, NC
Report This As A Bad Post Add To Your Ignored User List
TOO BIG TO JAIL.

Sweet.
Jstanley01
Posts: 8182
Incept: 2008-07-30
Silver A True American Patriot!
San Antonio, Texas
Report This As A Bad Post Add To Your Ignored User List
inline

----------
You can't cheat an honest man. ~P.T. Barnum
Phev
Posts: 440
Incept: 2009-05-17

Report This As A Bad Post Add To Your Ignored User List
But they are not out of the woods

http://www.marketwatch.com/story/goldman....

June 2, 2011, 10:23 a.m. EDT
Goldman subpoenaed by Manhattan DA: report
Sharon
Posts: 4354
Incept: 2008-02-10
Green
Odessa, Missouri
Report This As A Bad Post Add To Your Ignored User List
Quote:
When it comes to being "financially sexed" the American public has and continues to consent.


Duh. Not consenting involves raising an army that is better trained and better armed than the one they've got. They've got taxpayer-funded US military and police forces. You don't get confiscation without conquest, and you don't get conquest without superior force of arms. That's what this stuff is all about, and what it's always been all about.

Can you get superior force of arms? Well, yes, possibly. You could borrow the money from the same financiers who are bankrolling the opposition.

----------
Semper ubi sub ubi.
Imustbenutz
Posts: 283
Incept: 2010-11-04
Green
Absurdistan, USSA
Report This As A Bad Post Add To Your Ignored User List
Geithner's "tanks in the streets" speech qualifies as a terroristic threat, doesn't it?

Paladin
Posts: 156
Incept: 2007-09-18

Report This As A Bad Post Add To Your Ignored User List
It's simple Karl. The American public is encouraged to waste all of their free time buying worthless gadgets, watching idiotic television shows, and eeking their way through life fat, dumb, and happy. They never have to think, never have to ponder, never have to do anything except go to work, turn the handle, go home, play with their toys, and space out.

As long as the average American continues to live like a trained monkey (See light, push button, get banana) with all of their distractions to enjoy they'll never care enough to question the system.

Dumbing down our entire society is no accident. Complacent brain-dead monkeys offer no resistance to tyrants.
Montysano
Posts: 134
Incept: 2009-02-23
Green
Report This As A Bad Post Add To Your Ignored User List
Sharon wrote..
You don't get confiscation without conquest, and you don't get conquest without superior force of arms.

They (capitalized They) have achieved this conquest without firing a single shot. How? By turning the media into a propaganda catapult. As long as 50% of the populace thinks the Real Enemy is the evil libruls, and the other 50% thinks it's the nasty conservatives, we're screwed.

The goal has to be By The People, For The People. It would require a true grassroots movement, supported by a supermajority of the populace, using the vote as a weapon. If TPTB sent their army against that movement, then we would know that the game is truly over. Until that time, the problem is fixable; it merely lacks the will and unity of the American people.

----------
"You get up on your little twenty-one inch screen and howl about America and democracy. There is no America. There is no democracy. There is only IBM and ITT and AT&T and DuPont, Dow, Union Carbide, and Exxon. Those are the nations of the world today." -- Arthur Jensen, "Network"
Genesis
Posts: 130807
Incept: 2007-06-26
Admin A True American Patriot!
Report This As A Bad Post Add To Your Ignored User List
Quote:
The goal has to be By The People, For The People. It would require a true grassroots movement, supported by a supermajority of the populace, using the vote as a weapon. If TPTB sent their army against that movement, then we would know that the game is truly over. Until that time, the problem is fixable; it merely lacks the will and unity of the American people.

Yep.

Rape with consent is sex, and whether you like the outcome or not, if you consented you have no room to bitch.

----------
I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Jinxx0r
Posts: 4233
Incept: 2007-08-10
Silver
Report This As A Bad Post Add To Your Ignored User List
Quote:
MTA Officers Detain Man For Taking Pictures

BALTIMORE (WJZ) — The Maryland Transit Administration says more training may be called for after three MTA officers detained a man for taking pictures at a light rail station.

Pat Warren has more on the incident.

According to the ACLU, this isn’t the first time MTA Police have overstepped their bounds.

In a YouTube posting, Christopher Fussell left the camera rolling when he was confronted by three MTA officers for taking pictures at the Baltimore Cultural Light Rail Station.

“It is my understanding that I am free to take pictures as long as it’s not for commercial purposes but for personal use,” Fussell said in the video.

“Not on state property, not without proper authorization,” an officer said.

Fussell: “From who?”

Officer: “Nobody’s allowed to take pictures.”

The MTA admits the officers were in error.

“They can most certainly take photos of our system,” Ralign Wells, the MTA Administrator, said.

In addition to being wrong about MTA and state policy, the officer incorrectly cites the Patriot Act.

“Listen, listen to what I’m saying. The Patriot Act says that critical infrastructure, trains, train stations, all those things require certain oversight to take pictures, whether you say they are for personal use or whatever, that’s your story,” the officer said.

“So why don’t you have any signs posted to say I cannot take pictures?” Fussell said.

“Our officers have become very sensitive post 9/11 and we’re trying to see that they understand our passengers and citizens also have a right to take pictures,” Wells said.

The officer eventually threatened to take Fussell into custody.

“Do you have Maryland state identification on you?” the officer asked.

“I am not committing a crime,” Fussell said.

“Sir, I’m going to ask you one last time, then I’m going to take you into custody. Do we understand each other?” the officer said.


The ACLU considers it harassment by the MTA.

“This is not South Africa under apartheid and in this country, police do not have the right to walk up to you and demand you produce identification to them,” said David Rocah, ACLU.

The MTA acknowledges that additional training is in order.

“We’ll look at our training processes, we’ll look at whether any administrative situations need to occur with those officers,” Wells said.

The ACLU says it’s been working with the MTA on this very issue for five years, with no satisfactory result.

Fussell was detained for more than 40 minutes before MTA Police finally let him go on his way.


http://baltimore.cbslocal.com/2011/06/01....

Wow. Enjoy the police state. He's lucky he wasn't walking his dog.

Mannfm11
Posts: 3557
Incept: 2009-02-28
Gold
DFW, Tx
Report This As A Bad Post Add To Your Ignored User List
4 of 5 seal teams and some deadly weapons used with force might be a better action than prosecution. The idea that these guys can be prosecuted because it could harm the economy has to be one of the most absurd statements I have read in my lifetime. The guy that said it should be investigated as it couldn't come out of the mouth of an honest man or woman. There is nothing special about any of these bastards on Wall Street unless you call being able to devise plans to steal money special.

The "for reasons of national security" has been used by government to cover up all kinds of criminal acts. What do these guys have to do with national security? Does it really take that much talent and knowledge to put together a plan to totally wreck the US and world economy? That is what these guys did and I would think on the basis of what they did they could easily be replaced. If we need someone to run a weapons of mass financial destruction program we already have Bernanke, Geithner and Obama.

----------
The only function of economic forecasting is to make astrology look respectable.---John Kenneth Galbraith
Steelhead23
Posts: 2043
Incept: 2008-09-09
Green
Portland OR
Report This As A Bad Post Add To Your Ignored User List
I don't think your perception that this is consentual is quite fair. In Britain, banksters have come to fear the populace.http://www.forbes.com/2009/03/26/bankers....
They have had to increase their personal security. They KNOW the public is not happy. Actually, we are being raped twice, simultaneously. First the banks robbed us, then our government robbed us to enrich the banks and the banksters. Then, when folks do stand up to power, WE, including some on this forum, swallow the elite propaganda and find ways to distance themselves from these patriots (e.g. Alan Kokesh). I do not see a clear path toward non-partisan community action while we insist on an ideological litmus test for participation.

----------
"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Bertdilbert
Posts: 2666
Incept: 2008-12-22
Gold
CA
Report This As A Bad Post Add To Your Ignored User List
We know their weekness... Hotel maids..

----------
Dear Euroland: Relax, Germany has a plan for your money!

Political Capital Defined: We are out of money but will tax our citizens for whatever it takes to "SAVE" the Euro.
Sharon
Posts: 4354
Incept: 2008-02-10
Green
Odessa, Missouri
Report This As A Bad Post Add To Your Ignored User List
Force of arms, whether a shot is fired or not, is the bottom line. If there have been few shots fired, it's because the victims are well aware of the implicit threat of superior force, if they resist.

The fact that the rapist with the gun or knife didn't use it--because you didn't resist--doesn't mean it wasn't rape.

There is probably not a single instance in which an individual antes up some dough to government or knuckles under to cops, the legal system, or the TSA, without the implicit threat of violence or imprisonment. Any single instance of failure to submit will lead to the threat of violence, and any actual failure to submit will lead to real violence.

----------
Semper ubi sub ubi.
Medicdan
Posts: 8029
Incept: 2010-02-11
Green
Scottsdale, AZ
Report This As A Bad Post Add To Your Ignored User List
I like it KD. But honestly you stand a much better chance of being charged under the Patriot Act than a GS executive.

----------
Arizona & desert gardening
http://azediblegarden.com/
Captainkidd
Posts: 594
Incept: 2010-05-25
Silver
Pasadena, Texas
Report This As A Bad Post Add To Your Ignored User List
Quote:
I like it KD. But honestly you stand a much better chance of being charged under the Patriot Act than a GS executive.

How sad is it that this is probably accurate?
And how sad is it that every single one of us who regularly read or comment on this blog are probably in the same boat?

******************************************************

----------
A lawyer with a briefcase can steal more than a thousand men with guns. --Mario Puzo

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. -- Henry Ford
Login Register Top Blog Top Blog Topics FAQ
Showing Page 1 of 3  First123Last