Tuesday, November 23, 2010

Sir Evelyn de Rothschild On The Global Financial Crisis And The Absolute Necessity Of Protecting Billionaire Bank Bondholders

CNBC Video - E.D. Rothschild with Maria Bartiromo

Our earlier story on the IMF bailout for billionaire bondholders uncovered that the Rothschild Group is one of the Anglo-Irish bank creditors getting paid 100 cents on the dollar by U.S. taxpayers (thru the IMF) for their failed investments. So let's hear some bank-loving nonsense from E.D. Rothschild himself. Notice the date on both clips. This one came after Congress passed TARP, and Rothschild seems quite relieved that bank bondholders were not asked to take any losses.

* "Let's get back to capitalism for the good of all..."

* At 1:35 - "You have to face up to the fact that you couldn't let these people (banks) collapse..."

Really? Why is that E.D.? Of course we could have and should have let them collapse. Every single one of them. Then prosecute for fraud. Then jail time. Bust some bank-bondholder ass. Then we should have used the $700 billion allocated for TARP to create 7 new banks with $100 billion in capital each. I wasn't alone in making this suggestion. Nobel winner Joseph Stiglitz said the same thing as did others.

'Capitalism for the good of all' my ass, E.D. It was crony communism for the good of you, your family, and the global banking elite. Go sell your lies somewhere else, because the righteous economic blogoshpere is not buying this steaming pile of shite.

BBC Video - Oct. 4. 2008

This clip was recorded after the House initially rejected the bank bailout bill, and Rothschild seems a bit concerned, though he has faith in the Wall Street captured U.S. Senate to save the day. It's pretty disgusting to watch.


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