Fighting The Invisible Empire, The Political Class and The Banksters - Was Woodrow Wilson Right?

“The government, which was designed for the people, has got into the hands of the bosses and their employers, the special interests. An invisible empire has been set up above the forms of democracy.” Woodrow Wilson

We have talked about this quote a few times in prior posts. These days it seems as if ordinary American citizens have very little control of their own wealth as the Washington political class has confiscated and handed out our personal wealth to large and small businesses for a variety or reasons:

• General Motors still owes the American taxpayer at least $24 billion, according to government sources, with little chance of ever repaying that debt in the near future.
• Chrysler, now owned by a foreign company, has cost the American taxpayer about $1 billion that will never be paid back.
• Hundreds of billions of dollars were dished out to small and large banks alike via the TARP program to cover for their inept and irresponsible banking practices, much of which has not been paid back.
• The Federal Reserve Board has printed well over $2.3 TRILLION and used it to buy back bad assets from major banks in the vain and unfulfilled hope that these banks would lend their newly acquired cash to businesses and Americans to jumpstart the economy.
• An article by Bloomberg on June 18, 2012 outlined how the American taxpayer, and taxpayers around the world, subsidize their countries' major banks, encouraging risky banker behavior that always seem to lead to bank bailouts. The details of the article can be read at:

http://www.bloomberg.com/news/2012-06-18/dear-mr-dimon-is-your-bank-getting-corporate-welfare-.html

• The major point made by the analysis and article was that about $76 billion of taxpayer wealth is money laundered through Washington and flowed through to the major banks every year.
• An Associated Press news report from August 9, 2012 covered the news that the Justice Department will not investigate or prosecute criminal charges against either Goldman Sachs the company nor Goldman Sachs employees related to trades they made during the financial crisis/Great Recession. These charges were developed and highlighted in a detailed 2011 U.S. Senate investigative report. Despite the Senate findings of potential criminal activity, no legal action happened.
• In a December 2, 2011 post we did on Goldman Sachs' relationship to the highest levels of the Federal government, we came to the following conclusion: “There is an obviously cozy Goldman Sachs connection between the highest levels of government and the highest levels of Goldman Sachs and those that used to work for Goldman Sachs." 

http://loathemygovernment.blogspot.com/2011/12/government-favors-and-politicians-for_02.html

These are just some of the bigger money laundering examples of recent memory, there have been so many more including the tens of billions of flushed down dozens of bad alternative energy companies, that we do not have time today to review them all.

This is not a Republican or Democrat condition, it is a politician affliction. We get very little say in how our wealth is redistributed to special political cronies and interests, often in exchange for campaign cash for politicians’ reelection efforts.

While Bush may have funneled taxpayer wealth to Haliburton, Obama funneled it to Solyndra et al. Both were intimately involved in funneling wealth to the big banks over the years. Individual taxpayers were helpless in stopping the redistribution. Seems Wilson was right, an invisible, or not so invisible, empire has been set up above the forms of democracy.

But what if we could get control of this invisible empire? Not only would it make good financial sense to control our taxpayer wealth, it would help us get additional liberty pumped into our faltering democracy, and frankly, revenge is sweet. Somebody outside of the invisible empire is actually taking on the task of breaking up this cartel:

• A Federal lawsuit seeking the return of $43 trillion and an audit of all the TARP programs by an independent receiver has been filed against senior members of the Obama administration and the New York group known as the “Banksters”.
• From what I understand about the law suit, “Banksters” is a collective term meant to include all of the big banks and those that operate them in that invisible empire.
• The Wall Street Journal has reported the Spire Law Group, LLP has moved its massive law suit/tort action into the Federal court in Brooklyn, New York.
• In this District Court lawsuit (Case No. 12-cv-04269-JBW-RML), Spire is acting on the behalf of homeowners across the country seeking to halt all foreclosures nationwide until the return of the $43 trillion.
• Note: I have not found out how they arrived at the $43 trillion number but it certainly gets attention and is probably a good opening bid.
• The lawsuit is seeking an audit of the TARP Program based on a report by the former Inspector General of the bailout program, Neil Barofsky. Barofsky has countered the claims made by President Obama, both publicly and privately to Congress, that the TARP money has been paid back.
• Mr. Barofsky asserts that none of the money advanced by the Treasury has ever been paid back by the recipients of the program.
• The lawsuit contends it has established the location of the $43 trillion of laundered money in a criminal racketeering enterprise participated in by the following individuals: Eric Holder, Tony West, Kamala Harris, Jon Corzine, Robert Rubin, Timothy Geithner, Vikram Pandit, Valerie Jarrett, Anita Dunn, and Robert Baueras
• The lawsuit alleges that the Obama administration “actively borrowed money from these “Banksters” to fund his political campaign in this 2012 election and has not pursued any criminal charges against them.” (sound familiar, see the above point about Goldman Sachs.
• The lawsuit also claims multiple violations of the United States Patriot Act have occurred, along with the Policy of Embargo Against Iran and Countries Hostile to the Foreign Policy of the United States, and the Racketeer Influenced and Corrupt Organizations Act (RICO) and other State and Federal laws by the Obama Administration. Seems like they have got all of the potential bases covered.

Interesting, somebody outside of the cozy Washington club is trying to break through the invisible empire. Obviously, the $43 trillion figure is for attention and public relations. The Federal government’s annual budget is only about a tenth or so of this figure so I doubt that even the largest bank have anything close to $43 trillion in assets. In fact, $43 TRILLION is about three times the size of the nation’s GDP so it is indeed a large number.

I wish them luck in both recovering ill gotten gains from both politicians and the Banksters and more importantly, uncovering the invisible empire that Wilson warned us about. Given that we have allowed the political class to take over and abuse our political processes in so many ways:

• Gerrymandering of Congressional districts
• Earmark funding for political cronies in exchange for campaign funding and support
• The obscene amount of organizational (corporations, PACs, unions) money that drowns out citizens’ voices, needs, and priorities
• The absence of term limits that produces non-productive, self satisfied, and self enriched members of the political establishment,
• Insider trading by politicians for their own financial good,

this avenue of approaching the misuse of political power is a unique, welcome respite from the continual degradation of our political processes and democracy.

Many of these political abuses were discussed in “Love My Country, Loathe My Government” along with some suggested ways to fix the situation. I did not think of going the legal route like Spire is doing, but good luck to them in their quest to squash the undue influence of “The Invisible Empire.”

Note: We will take Spire's approach a step further over the few posts so stayed tuned.

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http://www.reason.com/
http://www.cato.org/
http://www.robertringer.com/
http://realpolichick.blogspot.com/
http://www.youtube.com/watch?v=08j0sYUOb5w