Tuesday, October 4, 2011

It's time...

to say Foxtrot Oscar to the TBTF Banks and especially the proprietary traders and their supervisors, and the media plants that will never get it, never report it; likely until their sponsors change.

Ratification EVERY time:
They ratified their on and off balance sheet MBS investments / exposures EVERY time they cashed a bonus check, EVERY single time they cashed a salary check, as they were supposed to be doing their job; minding the firm's capital. As far as I know, no trader EVER raised his or her hand and said "wait a minute my bonus is too much" did they? That means they ratified it.

Leading up to the so-called "2008 financial crisis" billions in bonuses were paid year after year to Wall St traders however, when they were bailed out, like rats (that's really too good for them as rats are not predators) they shrank away from the spotlight; as scripted by their "messaging" departments.

It's time to get back to the cause of the current crisis - caused by TBTF bank's prop trading departments; clawback and more...deserved.

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