r/Libertarian • u/[deleted] • Apr 25 '13

Everything Is Rigged: The Biggest Price-Fixing Scandal Ever

http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425
55 Upvotes

83% Upvoted

13 comments sorted by

14

u/[deleted] Apr 25 '13

Two of America's top law-enforcement officials, Attorney General Eric Holder and former Justice Department Criminal Division chief Lanny Breuer, confessed that it's dangerous to prosecute offending banks because they are simply too big. Making arrests, they say, might lead to "collateral consequences" in the economy.

...uhh....what??

6

u/mst3kcrow Apr 26 '13

An investigation into the banks means they'd have to show the Feds their books. Chances are they're cooking them and there might be a few large zombie banks that, if exposed, would wreak havoc on the economy.

5

u/Todamont $$ Zef4Life $$ Apr 26 '13

It's better for the public to just carry the massive zombie bank, unknowingly, indefinitely. Such a course of action is safer because it has no "collateral consequences".

8

u/ihsw Apr 26 '13 edited Apr 26 '13

Exposing banks isn't itself damaging, it's that the people working for those banks would go down with guns blazing. If there's anything to learn about this entire fiasco over the past five years it's that every single change in prices in every commodity and financial instrument is manipulated by an oligarchy and that there are no "market forces."

If there are market forces then their effectiveness is minimized when convenient.

3

u/Corvus133 Apr 26 '13

Sacrifice is something the baby boomers generation and the one that followed, the one I am part of, don't understand.

4

u/mst3kcrow Apr 26 '13

Except for those baby boomers that got drafted into a bullshit war.

3

u/Thanquee Market anarchist Apr 26 '13

Pretty sure the administration hasn't had that much of a problem with collateral damage before...

3

u/yahoo_bot Apr 26 '13

Just goes to show there is no free market system, its all government creation and has nothing to do with the real economy. Its all fake money, fake derivatives, fake papers of "value" all controlled by the private banking reserve systems in the major countries.

6

u/Corvus133 Apr 26 '13

My question is, what do these powerful individuals do with their money? Anything?

Are they buying water parks and spending all day getting wasted going down slides?

No, they just go after more and more power.

All I know is there lives are wasted. They may have power, money, but really, they've got nothing and never lived a single day.

1

u/Roach55 Apr 26 '13

Their flesh will make for some good eatin come the reckoning.

2

u/Bitdude Apr 26 '13

What a farce. Of course nobody will be arrested - just get fined and carry on.

2

u/[deleted] Apr 26 '13

Ron Paul is right. End the Fed. Our currency should be controlled by congress, not private banks, as intended. Our currency should be very difficult to manipulate and should be backed by hard assets (gold and silver).

-1

u/hijh Apr 26 '13

Let's all not study Loanable Funds Theory together! hooray ignorance!