Thursday, June 28, 2012

Libor-ation

Steal $10, go to jail for ten days.

Steal $10,000, go to jail for ten years.

Steal $1 million, go to jail forever.

Steal trillions and trillions, and you're Barclays and 20 other too-rich-to-tax-oversee-or-minimally-regulate banks. That means you pay a tiny wrist-slap fee for gouging consumers, municipalities and governments for decades. Conservatively assuming 0.0001% on $500 trillion in annual transactions, we're talking an effortless profit stream of $50 billion, all without exercising a single brain cell -- and maybe twice that, assuming that we're dealing with twisted, psychopathic lying scum of the planet.

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