Yet Again, Religion Makes People Stupid

It wasn't that long ago that Bernie Madoff was busted duping his fellow Jews with impossibly high returns on investments. Greed and misplaced faith were their downfall.

Now it's the Christians' turn:

"It was a good place where Christians would be investing in the work of other Christians," said Karen Lamb, a 55-year-old Terre Haute, Ind, housewife.

More than five years later, the Lambs still are waiting to get most of their $53,000 investment back. Now a former pastor is going on trial for what authorities call a multimillion-dollar scheme that preyed on thousands of parishioners who thought they were helping build churches but were actually buying the man and his sons planes and sports cars.

Authorities say Reeves, founder and owner of now-defunct Alanar, and his three sons duped about 11,000 investors into buying bonds worth $120 million secured by mortgages on construction projects at about 150 churches. The men diverted money from new investments to pay off previous investors, pocketing $6 million and buying two airplanes, sports cars and vacations, according to court records.
Officials say the scheme operated mainly in Indiana, though church members in other states, including Florida, Michigan, Maryland and Oklahoma, also were victimized.

(courtesy HuffPo)

When will people learn that a common religion does not equate common values, that thieves are thick among religious folk, as they are with all folk, and--most importantly--that you should never invest ALL of your money in one place?

Probably never, so maybe it's a blessing in disguise that most people out there have no money to invest thanks to the Lords of Wall Street and the Chamber of Commerce.

In the meantime, be wary your fellow churchgoers...

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Wow--I Never Would Have Guessed...

...that so many old white men (and four old white women, to get those affirmative action cunts off their backs) would be such self-serving greedy little pricks and refuse to even discuss reforming the rapists on Wall Street.

I bet there was a run on Viagra and prostitutes in DC this afternoon--and they're pretty well-stocked out there--as all the Wall Street lobbyists' assistants furiously stocked the C Street House for tonight's celebratory jag-off party.

By the way, can anyone score me a ticket to that?

I would love to keep a tally of how many times I overhear the $5000/night escorts ask "Is it in me yet?" as I pace the upstairs (fraternity) hallway pretending to be on the phone with my broker in Tokyo. It may be immature and pointless, but hey--if they are going to eagerly continue the ruination of my country, the least they can do is provide me with a few dozen chuckles tonight.

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A Little of the Old In-Out, In-Out

It pleases me to report some good news on the economic front, friends, for Great Britain has struck a mighty blow for the little bloke!

Alistair Darling, the U.K.'s Chancellor of the Exchequer -- sort of like a Treasury Secretary, but with more pluck -- announced today that he will impose an immediate, one-time 50-percent tax on bonuses of more than 25,000 pounds (about $40,800). That's on top of regular income taxes.

The New York Times calls it"the most direct attack on bonuses anywhere in the world."

(courtesy Huffington Post)

Indeed! And rightly so, all things considered.

Meanwhile, as Goldman Sachs tries to hustle through their $16.7 billion bonus pool and Lehman Brothers...oh, yeah--they died without our support...nevermind, President Obama and the fine fellows in Congress have responded with...silence.

Nobody is even half-heartedly saying something, testing the waters, or making hollow promises to look into it. Nothing.

Huh? Is this not the perfect situation for a bandwagon ride? Like dominoes, these bonuses should fall, but our government is too afraid of their pinstripe-suited master, and so, once again, a grand opportunity for change will pass.

Hey, Obama--remember this?


It should be more than just a sexy graphic, you know...

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Say No More!

The most depressing shit ever, but it's nice to see it so succinctly put. Finally.

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Mommy, Why Are Bankers Never Punished?

In a "striking admission," the Swiss bank UBS has confessed to "[participating] in a scheme to defraud the United States" of almost two billion dollars in tax revenue over the last 6 years.

The penalty? A $780 million fine and the naming of names of a few hundred of their 19,000 illicit offshore American clients (not the most important ones, I'm guessing...).

What is so wrong with imprisoning white-collar criminals guilty of ridiculously malicious fraud schemes? Why are they above the law, yet Wesley Snipes has to flee the country over $12 million?

“It’s a conspiracy against the IRS, basically to harass the IRS, from doing its lawful job in term of collection of taxes,” U.S. Attorney Paul I. Perez said at a news conference (regarding the prosecution of Snipes).

Oh. NOW I understand the difference...

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The Ongoing, Drawn-Out Death March of the Financial World Continues...

Word is, heads are rolling at investment banking firms around the globe, which really should come as a surprise to no one.

What does come as a surprise to me is this:

According to the International Herald Tribune, year-end bonuses to bankers at firms in London are said to be dropping 60% this year. Only USD$5.3 billion will be handed out to those who steered their company's pocketbooks into the sewer. And that's just London. Poor guys...

Luxury goods retailers are fainting as we speak.