Saturday, April 5, 2008

A real mind-blower, but when?


I've been pissed off imagining how most of Wall Street has gotten enough money (not US dollars! Ha!) into the Caymans or Costa Rica or Switzerland, and how when Joe Sixpack gets a foreclosure up the ass or finds his CD is worthless or that he can't get his money out of the bank, he's hosed, but the big boys just trot off to their ill-gotten gains (see "Privatized profits, socialized losses").

But here's an interesting thought. The wing tip crew in New York and elsewhere has been pretty much able to bluster their way through whatever investor or depositor losses have occurred with mostly shrugs and no comments.

***WARNING- GRAPHIC CONTENT FOLLOWS!***

How much profit from illegal drug dealing is out there in the financial universe? I've seen estimates from $300 to $600 billion. What happens when these depositers come to collect. You and I get told in a bank run, "Tough noogies. File with the FDIC." What about the current day Pablo Escabars? If you were owed your life savings of $20 billion by a New York banker and you were a 45 year old 20 year veteran of the Drug Wars, what wouldn't you do to get your money back?

Seriously, think about it. If Citibank has deposits worth $20 billion for Joe Entrepreneur Druglord and they won't fork it over, do you think he'll file a claim with the FDIC? These are people with massive resources and few scruples due to the US's absurd War on Drugs. (Nice unintended consequences, you tight-assed bluenoses.) If I had that much money, power and incentive, and was already being hunted down by the full might of the United States of America, here's what I'd do:

* Kidnap the children and grandchildren of every Board of Directors member and senior manager
* Treat them extremely poorly (use your imagination)
* Wait a week
* Have the Chairman's grandchild call grandpa and demand that he give these people their $20 billion, or they'll cut off her other arm, leg and ear

The entire financial system would be in flames in hours. Complete panic would set in at the highest levels and nothing but nothing would function as it should. Every nickel of cash would be sucked out of the system by insiders who could pull it off and the vast majority of people in the US (at least) would be totally incapable of handling the aftermath.

I don't fault the drug dealers. They just used the free market opportunities made available to them. They'd be broke next week if we legalized drugs. The fault is with the people who caused the financial bubble and subsequent collapse through deregulation, pronounced "Greed", and the continued criminalization of recreational activities. What a bunch of assclowns. Sorry about your grandkid, Chairman, but you basically set the scene.

Have a nice day.

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