Hello and welcome to the first posting of my first blog – ‘Hostile Profit’, hosted and moderated by yours truly the ‘Hostile Prophet’. I was considering call it ‘Friends of Howard Beale’ but I’ll reserve that as a heading for those likeminded that I follow. You guessed it 'I'M AS MAD AS HELL, AND I'M NOT GOING TO TAKE THIS ANYMORE!'
So what is it that makes me mad as hell and what am I going to do about it? I have no more tolerance for cowards, liars and thieves – especially bankers and politicians and those that would benefit at the expense of others and the environment– Greed Is Not Good! Don’t get me wrong I think capitalism is good, business is good, sales, margins and profits are great but it has to be a win/win situation where the consumer gets value in goods or services in exchange for money- no more of the house taking a cut on a rigged game. It is unconscionable to keep shuffling toxic assets between institutions and taking a commission on the valueless to the point of destroying the system, a lot of bubbles could burst.
My understanding is there are maybe a dozen or so of these institutions ( RBS, Lloyds, Barclays, UBS, HSBC, Morgan Stanley) that hold the vast majority of the toxic debt. Here is an idea – make them use the funds they scammed to buy back and eliminate the debt. Reduce them in size from big banks to small banks, send the crooks who scammed the most to prison. If the rest of the world has to adopt austere measures to survive so should the financial institutions at least then we could start to rebuild on a level playing field. Next time maybe we’ll get it right on a ‘peer to peer’ basis instead of a hierarchy based on greed.
