Believe me, Mr. President, when I tell you, "Wall Street gets it." It's you that doesn't get it. Here's what you don't get.
The people on Wall Street are out to steal every last dollar they can, as fast as they can, and as long as they can get away with it.
Mr. President, you may have gone to law school but I went to business school, in New York City, on Wall Street. I had to sit next to these young thugs that did their summer internships at Goldman Sachs. I learned plenty about both business and the mentality of Wall Street.
But that's not what Wall Street or any of the major banks have done.
The next step, to tell investors you have $10,000,000 in sales, and enticing them to invest in your burgeoning enterprise is, of course, fraud!
Try this the next time you go to the horse track. Tell the para mutual teller you want a derivative of an Exacta Wheel, covering every horse in the race, that will pay you just 1% more than your $1,000 wager.
In other words, no matter what horse wins you will redeem your wager stub for $1,010. It can't be done. Even if you were to bet in a way that would assure your up front wager returned in full, the track takes a percentage of the bet, in street parlance the vig, so you would come out behind.
Now, low and behold the people of Wall Street, who have magically and with the help of statistical, programming and flimflam geniuses, easily combine both of the above schemes and tell you they can win every time no matter the investment outcome.
It's criminal it. It's fraud. It's stealing. It's a scam.
It's nothing more then three-card Monty and the suckers are the U.S. Government, the President of the United States, every small time "investor" and every taxpaying citizen. The victims are not just the citizens but our very way of life and our future.
As we already know, as the people of Wall Street worked the above criminal enterprise, they paid themselves handsomely. But that was just
Big Banking will take your last dollar with credit and debit cards.