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Ellen Brown: Will LIBOR scandal sink the banksters?

Tuesday, July 24th, 11 a.m. to noon Central (9-10 Pacific) on (archived here a few hours after broadcast).

Guest: Ellen Brown, author of Web of Debt. Though the LIBOR rate-rigging scandal is being called the biggest finance swindle in history – which is saying something, given what we’ve been through during the past four years – the lamestream media isn’t covering the story properly (what else is new) and the citizens have not yet arrived at the gates of the City of London carrying torches and pitchforks.  Nonetheless, this could be the trigger for the long-awaited collapse of bankster-dom, according to Ellen: 

Barclays’ activities with the other banks appear to be criminal racketeering under federal RICO statutes, which authorize victims to recover treble damages; and class action RICO suits by victims are expected.
The blow to the banking defendants could be crippling.  RICO laws, which carry treble damages, have taken down the Gambino crime family, the Genovese crime family, Hell’s Angels, and the Latin Kings.

Will RICO suits also bring down the Eight Families

If not, I say get out the torches and pitchforks.

4 Thoughts to “Ellen Brown: Will LIBOR scandal sink the banksters?”

  1. In case you're wondering who the Eight Families who own the earth are: "J. W. McCallister, an oil industry insider with House of Saud connections, wrote in The Grim Reaper that information he acquired from Saudi bankers cited 80% ownership of the New York Federal Reserve Bank- by far the most powerful Fed branch- by just eight families, four of which reside in the US. They are the Goldman Sachs, Rockefellers, Lehmans and Kuhn Loebs of New York; the Rothschilds of Paris and London; the Warburgs of Hamburg; the Lazards of Paris; and the Israel Moses Seifs of Rome."

  2. "It sometimes sounds trivial to talk about a corporate culture when evidence of wrongdoing surfaces in banks and elsewhere. People ask: Where were the regulators, the compliance officers, the auditors? But these external enforcers can never be everywhere. In any case, for the wrongdoer, the fear of being caught and (lightly) punished is not particularly dissuasive when weighed against the prospect of an outsized bonus. The only omnipresent, omnipotent enforcer is the internal compass that reminds individuals about the appropriateness of their behaviour. That internal compass is calibrated by social norms. The social norm for a firm is precisely its culture. As for bonuses, they might not always attract the best, but they always attract the greediest…."

  3. Anonymous

    I enjoyed your show on LIBOR, it helped me understand it. I don't think having a religion being in control would be the answer. I've known religious people in all faith that were the salt of the earth and others that was as crooked as most politicians.

  4. I think those whose religion gives them a strong motivation to end usury have a big edge over those who don't. It's the sacred quality of law that gives it the power to really determine people's actions. If the law isn't sacred, it's on the way to becoming a dead letter – like in the USA today, where the rule of law is roadkill on the neocon superhighway to hell.

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