Only the Game Remains, Part Two:
Their Kind of “Sharing the Pain” – My Problems Will Be Your Problems, They Say.

And Then Outright Extortion

In fact we had a conspicuous example of this, the way…let’s call it what it is…extortion was employed by the banks a few years ago. The filthy rich, in the guise of investors, pulled off one of the biggest extortions in American history and got away scot free. Even the Democrats could not see through it (still don’t).

Well, in any other instance of such a tactic, in any other instance by anybody in America doing what was done, it would have been criminally prosecuted. But not so in the case of these special rich people, represented by these bank executives.

How spectacular this oversight in singling out the guilty is rarely brought out. But truly massive is this miscarriage of justice. Consider that there are vastly more ordinary Americans than there are in the tiny group of filthy rich. So there will of course be far more instances in the general population of any crime you would think of. In this case we are looking at extortion, and virtually every instance of such a crime committed among the general population would attract the intense attention and the full wrath of justice there. Naturally, the harm to the victim or even victims would be constrained to the tiny number of people affected, and the limited amounts of money involved, in any particular case.

On the other hand we have a much tinier group of people, the filthy rich and the heads of the banks that represent them. And the percentage of that group involved in such an extortion is far greater than the incidence of that crime in the greater population, i.e., they represent a high crime zone for such malfeasance and a much bigger danger when their crimes go unpunished and can continue unfettered. Such small groups with higher rates of crime, when there is smaller mounds of money to protect them, are labeled as “criminal gangs,” “hoodlums,” “organized crime,” “gang-bangers” and the like. But not so when the perpetrators dress in such fine suits and stink with money.

Further the scale on which these crimes are perpetrated are that of the entire population of the United States, and expands itself to include harm to those in other nations and even among the unborn…future generations. So the the magnitude of the crime is infinitely larger than could ever be pulled off by an average American. Still, the smaller scale, less harmful instances of this crime are ruthlessly sought out and punished. Whereas the immeasurably larger crime of the super wealthy is let go; and this in spite of the fact mentioned that the future threat is larger and considerably more likely if the current wrong is not addressed.

With these things known, how mind-boggling is it to notice this blatant extortion not pointed out, not labeled as such, hardly addressed?

Their Kind of “Sharing the Pain” – My Problems Will Be Your Problems, They Say.

Well here we have, in this case, the banks, the preeminent fronts for the organized filthy rich, demanding extortion money, which if not received…here we go again…eventually would result in their inability to do business and would affect people. This threat is one of their ploys.

Just like the coal barons in the example above who would ask for concessions saying if they did not get them they would be forced to lay off American workers, the banks would have their way of trying to convince that they should be helped or it will affect great numbers of people. In their case, they would say it would affect their ability to do business and to serve the American people.

One way or another the idea is to obscure the reality that help to the banks will help primarily this small group, in this case, of bankers, and to make it that their problem is seen as our problem, the public’s problem. This increases the pressure on politicians to grant the favor. For it is spun that it is not the wealthy investors whose welfare is at stake but the public at large.

So there is the extortion, you see. Unlike coal barons threatening to fire workers, essentially bankers threatened to stop providing loans. They would hold them back if not paid. The degree to which this was untrue is shown by the fact that after they did get the bailout, they used it to feather their nests and to expand their bank’s market share. Chase Bank, for example, sat on the bailout cash they received, with the intention of using it to buy out other banks that would fail, which is exactly what they did with the money. Banks also gave out those high bonuses like I’ve discussed.

Meanwhile the public was not served. Money remained tight. There arose a big hue and cry over the fact that the money was covering bankers’ losses (i.e., going into their pockets) but the public was not getting the loans they needed. So in retrospect that money would have been much more wisely spent going somehow directly into the people’s hands who needed it, not by funneling it through the hands of gluttonous banking institutions.

And what about their threat of it affecting society at large if they were not placated? Well, society did pay dearly, did suffer, even though the banks were paid their extortion money, handsomely too. And since so much of that loot went to the folks who didn’t need it, overall the economy ended up worse off. Short term the problem was swept under the rug, but in borrowing from the future to help rich people today it guaranteed the problem would get a permanent installation in America’s economy. Seriously, this problem can not be calculated or even imagined away, so Americans will suffer its results forever as far as we know.

So this is the extortion and the lie that sits in the middle of the threat that it is the American workers who will suffer if the wealthy don’t receive their payola.

For it is never the workers or, in this case, those needing loans who would suffer if the extortion is not given in to, it is the fat cats, coal barons, filthy rich who would suffer, and for that matter, not even all that much compared to the suffering inflicted on the public by their greedy practices, whether or not the extortion money or concession is provided.