UK CALLS WALLSTREET MORALLY BANKRUPT

Rule Britannia – and umm hurrah Germany – Germany really needs a new slogan, the old ones have image issues. In any case, it is a great and abiding relief to see more evidence that popular democracy and enlightenment still exist in the western world.

The BBC has posted an article that brings a real chance of a serious and vigorous investigation into the crimes of Wall Street. UK Prime Minister Gordon Brown hit it right on the head when he called the situation one of “moral bankruptcy”. The German government announced that “After a careful evaluation of the documents we will decide about legal steps” France has yet to make a statement, but that may have something to do with the fact that Societe Nationale – one of their largest banks made billions out of the AIG bailout.

This is a solid indication that somewhere in the world people have a clue to how monstrously harmful the mega banks have become. They are no longer a beneficial tool helping to grow economies. The giant financial corporations have become feudal bandit lords. Just like the petty kingdoms that used to dot the Rhine in Germany and charge “tolls” for passage down every mile of the river they impede real economic progress and simple exist to enrich themselves.

England has already passed a 50% tax on bonuses. Mr. Brown is calling for a special investigation. Hopefully this is an indication that they are serious about this and will pursue the Goldman Sachs hierarchy like the thieves and parasites they are.

The whole BBC article can be read here