Bankers' Fraud Now 'Too Big To Fail'

NEW YORK (SilverGoldBull.com) -- There is more outrageous news out concerning the crime syndicate otherwise known as our financial sector.

The news was not that these banksters have openly admitted that they willingly/gleefully participated in LIBOR-related fraud that exceeds (present tense) $350 trillion in scope.

No, the news was that this crime syndicate has now proclaimed that its acts of fraud are themselves "too big to fail."

As the banking cabal's favorite apologist, it was delegated to Bloomberg to frame the announcement in its media spin.

Naturally Bloomberg did not use the phrase "too big to fail" when it explained why these bankers must be allowed to continue their crimes ". . . because structural changes risk invalidating trillions of dollars of contracts."

This is perverse to the point of being fraudulent. The banking cabal has admitted its fraud in this $350 trillion crime spree (more than five times the size of the entire global economy). As a matter of law, all of these contracts became null and void the moment this fraud was discovered (and confessed).

Indeed, it is a separate (criminal) act of fraud for each and every one of these contracts that continue to be enforced despite being null-and-void as a fundamental precept of the rule of law. To demand that these contracts remain in effect is nothing less than a proclamation the rule of law no longer exists. Crime becomes "OK" as long as it's large enough.

It was bad enough that after 2008 this financial crime syndicate was allowed to proclaim itself "too big to fail." The message it sent was this: If you increased the total amount of your bets to a high enough threshold (leveraged to the hilt, naturally) this qualified you for Permanent Corporate Welfare.

Wall Street then proceeded to extort more than $15 trillion in assorted hand-outs and subsidies from the U.S. government (and U.S. taxpayer), an amount greater in size than the entire U.S. economy. As I observed at the time, even if these monstrous hand-outs had not taken place, as a basic proposition of logic "too big to fail" must actually mean too big to exist.

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