So we have yet another financial scandal involving astronomical sums of money and the manipulation of dense Bankster inside baseball operations and a post-hoc need to “do something about it”. In this case “it” is the LIBOR scandal in which banks banks lied about their borrowing costs during the Great Economic Collapse of 2008 to appear more solvent and manipulate interest rates and provide insider information to one another on financial deal making. In response, some “cost of doing business” money will likely be extracted from the banks and the status quo financial system will fester on fundamentally as it has.
But what about the financial scams that are unknown to the public?
Banking crises are becoming the new borderland drug bust. On occasion federal agents will “get ’em” and parade piles of guns, laundry baskets of cash, Hefty sacks filled with marijuana, and enough bricks of cocaine to build a modest adobe house in front of the cameras to prove that The System is Working. Meanwhile, scores of other unseen mules zip the same stuff through, below, around and above the border to eager clientele in America. In the same vein, sleepy bank regulators eventually claim that they “got ’em” — even as the next High Finance rip off is being perpetrated, unseen and unknown.
Either way, society takes it up the nose: voluntary white powder through a $100 bill, or involuntary $100 bills with no white powder.