LOVE OF MONEY IS THE ROOT OF ALL EVIL

Praying to the god of this world

Neil Barofsky, the former regulator tasked with policing banker bailouts in the Bush administration’s Troubled Asset Relief Program (TARP) told talk show host Bill Moyers another major banking crash is now “inevitable” because neither of the political parties have the stomach to end “too big to fail.”

I trust what this man is saying, and I admire his honesty and integrity. He tells us how it is on the inside with the big money players and government. He was frustrated in trying to do the job he was hired to do when so many government officials were telling him not to rock the boat in taking his job too seriously.

Reprinted from The Raw Story. Images selected and added by Ray

“This was the government policy created by the architects, Ben Bernanke who is chair of Federal Reserve, Tim Geithner, who was then the president of the New York Fed before becoming Treasury Secretary, and Hank Paulson,” he explained, describing the Bush administration’s actions during the 2008 economic crisis. “Their solution originally was to further concentrate the industry, to make the too big to fail banks bigger.”

That’s a policy the Obama administration has mostly continued, placing only modest limits on the debt load financial institutions are allowed carry, but neglecting broader reforms like restoring the long-standing firewall between checking and savings accounts and the big banks’ more risky ventures on Wall Street.

It’s not as if there isn’t some support for restoring that firewall either, which effectively lets banks risk their investors’ money while keeping deposits safe from major swings in the markets. It used to be the law, but that law was repealed during the Clinton administration, in legislation created with the help of former Citigroup CEO Sanford I. Weill. In the wake of the crisis, however, Weill admitted in July that the time has come to restore the division between investment and consumer banking, which would essentially ban the “financial supermarket” model he created that’s led to institutions becoming “too big to fail.”

Barofsky added that the consolidation of over-leveraged banks like Merrill Lynch into somewhat more healthy institutions like Bank of America ultimately put the markets on a more dangerous path than the nation’s top financial regulators realize. That’s because “you have institutions now that are just monstrous in size, over $2 trillion in assets by certain measures, close to $4 trillion by other measures,” he said, calling the reality in today’s markets “terrifying.”

“The idea that any of these institutions could ever be allowed to fail is pure fantasy, at this point,” Barofsky lamented.

That’s when Moyers cut right to the chase: “Are you suggesting that we could have another crash?”

“I think it’s inevitable,” he replied.

And Judgment is turned away backward, and Justice stands afar off:
for TRUTH is fallen in the street, and EQUITY cannot enter.
Yea, Truth fails; and he that departs from evil makes himself a
prey: and the LORD saw it, and it displeased him that there was no Judgment.
Isaiah 59

No servant can serve two masters: for either he will hate the one, and love the other; or else he will hold to the one, and despise the other. You cannot serve God and money.

Luke 16:13

On a scale of significance and importance to the Future well being of America and the World, this report and Testimony of Mr. Barofsky should be the #1 issue in this election campaign and shouted from the rooftops!

Watching from CanaDa, this American election is an exercise in Fraud, deception and manipulation. It doesn’t really matter who wins the Presidency. For those who think Romney can turn things around in less time than Obama had, think again! Hard Times are ahead.

Mr. Barofsky confirms what most people already suspected. “The rich bankers will sell their souls for a few points of profit.” Jesus chased them out of the Jewish Temple, saying the House of My Father is a House of Prayer for ALL NATIONS and you have made it a Den of thieves. Is there anything new under the Sun?

This honest realism of Mr. Barofshy with his inside experience is so refreshing to see in this election campaign of lies and misleading half-truths. The mainline news media don’t have any Integrity left in investigating and reporting the Truth in my opinion.

EconomicRatRace

Capitalist Pyramid

BankstersStealingPensionsCartoon

9 thoughts on “LOVE OF MONEY IS THE ROOT OF ALL EVIL

  1. Under Islamic Law (Shari’ah) – all activities related with moneychangers (Usury or of profiteering from someone’s needs) is totally forbidden. In the begining, the Christian Church too considered it a heinous and immoral act. Karl Marx (Jewish founder of Communism) also considered Usury as: “It centralizes money wealth, where the means of production are disjointed. It doesn’t alter the modes of production but attaches itself to it as a parasite, and make it miserable. It sucks blood, kills its nerve and compel production to proceed under even more disheartening conditions (Leon, page 150)”. However, according to professor Israel Shahak, Jewish religious tradition stands in drastic opposition. The Talmudic Mishnah, for instance, proclaims: “Who is rich? One who enjoys his wealth.

    The great majority of European Christians, who lived in acute poverty during the 13th and 14th centuries – hated both Jew and Christian moneylenders. Jaques Le Goff wrote: “The persecution and slaughter of Italian usurers, in particular in France during tha late thirteenth and fouteenth centuries, were phenomena as frequent and widespread as pogroms against the Jews, with one difference that the pogroms were prompted by religious motives as well as the hatred of wealthy moneylenders of a different faith”.

    http://rehmat1.com/2009/09/25/throw-the-moneychangers-from-the-temple/

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    • I really enjoy your comment about usury..

      I never also quite made the relation between medieval money lenders and the Holocaust.. If we can see what’s happening in today society , this is highly plausible..

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  2. I have to agree 100%…

    I don’t think it matters wich political leader conducts the train.. she’s gonna hit disaster “right on time”.

    Even in Obamas first election, when they held the “super secret” meeting, with several previous presidents, it seemed clear to me that they answer to “bigger” people, and the plan was already laid out. (And has been that way for centuries, I’m sure..)

    When even the top financial advisors think we’re heading towards a “fiscal-cliff”, and nothing has changed..I cant help to believe this is all part of the show. The “REAL” financial agenda of todays moneylenders, will soon come to light.

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  3. Forgot to add..

    And yet who will be our Savior?..

    Everyone can call it, no one is doing a thing..
    Who will over-throw the desks of the CEOs?..
    Who will destroy the “Money-Temples” geared for the elite few?

    Nobody wants THAT job!!
    Last guy to hold that position, they nailed to a cross..lol

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  4. A picture’s worth a thousand words, they say. I can appreciate the lighter side of the insanity with the great graphics in your articles. Keep up the good work, Ray

    Bank Bailouts Explained YouTube

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    • And the debt gets higher and higher..

      Everyday crooked politicians and money lenders help all of America get further emprisoned by dead..omg ..Its horrible..

      Whats going to happen in the end of this? Does anyone collect this debt? What will there be to collect when the whole nation is indebt?

      Like

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