Why Doesn't He Pitch Fiat, White Collar Crime Relief To Citizens?

   (Commentary posted by Roger Erickson.)

Not a big enough protection racket?

Ex-NSA Chief Pitches Banks Costly Advice on Cyber-Attacks

Where's the line between innocent fraud & racketeering?

Are we assigning enough people and resources to adequately monitor that line ... and regulate who crosses it?

Who's telling Main Street that the financial industry was among the likely ... initiators ... of a major attack on the Middle Class?

$1 million/month? Is he joining a crowded field of .... White Collar Criminals ... or just demonstrating that the MICC can co-opt Wall St. any time it wants to?

After all, he and the NSA must have information that most tycoons ... shall we say, 'don't want brought to light' any time soon?

If he's that good, why doesn't he just go to work for Google, IBM, Yahoo, or other existing IT industry titans? Move over good dogs, a mean old dog's moving in?

And the touted threat? Rerouting data that might be used to make money in rogue stock-market transactions? I thought that's what Wall St. DID with Main St.'s financial resources? Translation: Banksters want to retain that business for themselves, and the NSA can show them how? [For a hefty piece of the action.]

Two decades after gutting every financial regulatory agency, from CFTC to the FBI White Collar Crime Task Force and on to the SEC itself - not to mention gutting Glass-Steagall - we now need more people in select regulatory positions? No one could have predicted this, right?

Banks that not long ago had 10 or 15 people repelling computer invaders now have 50 to 100 people “that do nothing but respond to attacks and review intelligence,” Joe Nocera, head of the financial-services cybersecurity group at PriceWaterhouseCoopers LLP, said in an interview. 

The largest banks are allocating the most resources. JPMorgan Chase & Co. (JPM) has 1,000 people focused on the danger and will spend $250 million this year, Chief Executive Officer Jamie Dimon said in an April letter to shareholders.

And it only gets more unbelievable.

“I don’t want to be Chicken Little and say the sky is falling,”Benjamin Lawsky, superintendent of New York’s department of financial services, said in an interview. “But we really need to focus on this issue.”

And, says a clueless Congressperson:

“What I’m concerned about is we’re going to have a 9/11 in cyberspace,” he said. “We don’t need to suffer this kind of attack.”

Really? Sort of like the ones that Edward Snowden revealed? And, what about the massive policyspace attack that ALREADY OCCURRED, and hit the Middle Class on Main Street? Apparently that segment of our nation isn't as important to these so-called public servants?


ps:  watch to see which banks (domestic or foreign) are able or allowed to hire this particular "protection" service, and what accessory "services" follow soon after. Sadly, since we the people are "running out of fiat," the Middle Class will never again be able to afford similar protection .... from it's own leaders - unless we da peeps make some fundamental changes in national governance.

Novel Variation on Corporate Welfare - Racketeering, Renamed Upper Looting Class Tax Forbearance

(commentary posted by Roger Erickson)

The Top 1% Mostly Gives to the Other 1% ... and Calls it Charity

Collusion?

Fine. Here's a scheme to suggest to your Congress Critter. Since the taxes the Middle Class pay don't go anywhere, or get used for anything ... why not claim that you're effectively giving buying pwoer to the 1% too, and request ... NAY DEMAND! ... a similar tax write off.

In fact, until enough Aggregate Demand materializes to resuscitate the Middle Class, why not just request a holiday altogether, from your currently mandatory donation of Aggregated Demand to the IRS black hole?

If the IRS screams about the apparent deficit in nominal fiat, say "Let them eat 1% demand!"

And if 1% of the population pours into the Country Clubs, and tries to hire enough poor people to shoot other poor people?

Give me Aggregate Demand, or give me fiat death?

Chinese Premier Demands More Euro Action

commentary by Roger Erickson

http://www.guardian.co.uk/business/2012/aug/30/eurozone-crisis-merkel-china-debt-talks?newsfeed=true

What do you suppose that means? They want reassurances that whatever China invests in will be safe?

Here's the context. First, the person he's speaking to, summarizing how she'd answered the good Premier's questios.

Where there's a will.....

Angela Merkel's message to China is that the eurozone has an "absolute political will" to solve the crisis.

[Uh ... she might want to clear that with the people on the streets in Athens.]

She made the comments after her meeting with Wen Jiabao this morning.

Merkel has a two-fold mission.

1) to ressure Beijing that the euro crisis is in hand, thus encouraging them to keep buying European debt

2) to build trade links with China.

On that second point, several business deals were signed. As well as Airbus's 50-plane deal (see 8.38am), the conglomerate has also agreed to invest $1.6 billion in a new assembly plant in Tianjin, while Volkswagen is investing $219 million in an "environmentally friendly production facility" and vocational training initiative, also in Tianjin (Wen's home city)

Translation: China's elites & Europe's elites signed more deals agreeing to co-own both regions?  Is this rather like the infamous deal between an early Pope & germanic war chiefs to "invent" Royalty as permanent war chiefs?

Now on to the good Premier's own comments.


Wen Jiabao urges more action on euro crisis

Here's the full quotes from Chinese premier Wen Jiabao this morning, expressing his concern over the situation in the eurozone and calling for more action

"The European debt crisis has continued to worsen, giving rise to serious concerns in the international community. Frankly speaking, I am also worried.

The main worries are two-fold: first is whether Greece will leave the eurozone...The second is whether Italy and Spain will take comprehensive rescue measures. Resolving these two problems rests with whether Greece, Spain, Italy and other countries have the determination for reform."

Wen also said that solving the crisis required a two-fold strategy of "fiscal tightening", and rebalancing individual country's economies.


Translation: China's elite is siding with Germany's elite, to secure dominance of both China & Europe?  Is this foreign policy, or political racketeering?

Do you suppose Wen is wondering why Bonn can't control Europe the same way that Beijing controls China?  Is he comparing Greece to his view of Tibet & Taiwan?