A study in collusion and corruption | Text in the cartoon - Small screen asks - How do you want you want your bailout? Billions, Trillions. Big display says - Please take your bailout, Thank You | Cartoon by David Horsey; source and courtesy - spokesmanreview.com | Click for larger image.
Obama administration’s mortgage modification program is more than two years old. From the beginning, it’s been apparent that the participating banks and mortgage servicers were breaking the program’s rules. The administration has long argued it has little power to do anything about it. But now, after millions of homeowners have been rejected, the government has decided it’s finally time to crack down.
On Thursday, the Treasury Department announced it would be withholding government subsidies to the country’s three largest mortgage servicers, which are also among the U.S.’s largest banks: Bank of America, Wells Fargo, and JPMorgan Chase. The banks won’t be getting more money until they show “substantial improvement.” (via Eye on the Bailout – ProPublica).
Maya of democracy
Behind the corruption problem, is the ‘modern’ system of governance. Giving unlimited powers to the State is cause for ultimate corruption.
Given a choice of two candidates, selected from some 2,000 collusive politicians, we have been lulled into believing that democracy is greatest thing since sliced bread. Can’t stand either.
Both give me indigestion.
Too big to fail is too big to control also. | Cartoon dated October 27, 2009 | By David Horsey | Source and courtesy - sfgate.com | Click for larger image.
Greed and pain
After taking bailout worth hundreds of billions in US$ (that would be more than Rs.50 crore crores, yes 5 and 16 zeroes), to help homeowners affected by the Great Recession, these banks simply kept the money.
And kept evicting distressed homeowners.
Why did the Government drag its feet for more than 2 years – after serious protests, and clinching evidence?
Corruption? Yes, definitely. Was bribery involved? Don’t know. Is this collusion? Definitely.
Does Shri Bhagwati want to bet anything, that no one is going to jail?
Small guys are statistics
Small business failures is statistics – but big business failure is in ‘national interest’.
This concentration of power at the top, creates a collusive system, where Big People help each other – and the rest of us are statistics.
This pattern has been seen in Communist China and Russia, Socialist countries everywhere (everyone is a socialist now) – and in Capitalist England and America earlier.
India has been a rich country for most of recorded history
Yet, after 1500 years of recorded history, Indian kings have not left behind fortunes, palaces or monuments. Unlike Rome, Greece, Egypt, China, Babylon, Persia – and everywhere else.
Now that is clean administration. How did India get clean administration for 1500 years?
भारत-तंत्र Bharat-tantra gives you that.