Bonum Certa Men Certa

Another Financial 'Collapse' is Coming, We Need to Facilitate Banking Whistleblowers

Will you help this man?

Rudolf Elmer



Summary: Why the world needs more conscientious people who speak out against banks and show where fraud is used to facilitate pillaging and plundering by plutocrats who 'crash' the economy (privatise/confiscate whatever is still public)

SEVERAL years ago Rudolf Elmer (shown above) gave Wikileaks material which showed serious crimes of banks. In a sense, Wikileaks' technical skills helped combat corruption. This is where geeks can really help fix the world.



For those who don't pay much attention to financial news (by "news" we don't mean channels bankrolled -- indirectly -- by the financial sector), there's indication that the plutocrats will crash the economy again in their never-ending pursuit of total ownership of everything, even what was publicly-owned (nationalised). To give some examples from this month's news, Detroit is being stolen [1] by the rich and powerful (privatisation) and here in Britain the 500-year-old mail service is now being considered for privatisation [2]. China, which sells debt to much of the West, is buying sizeable chunks of Ukraine [3], which is ironic and sad because in the land of tragic famine they now help prevent Chinese famine (as if the problem can be addressed by feeding another nation).

"Pessimists say that there is no way to fight all this corruption and pillaging will always prevail."The rich and powerful are doing extremely well [4,5] (no financial crisis) and the rest of us sink to oblivion [6]. Plutocrats share the religion of greed [7], which they have private meetings about [8] as well as propaganda campaigns [9]. The corporate media is using propaganda right at this very moment in order to usher in a man responsible for the previous financial 'collapse' (Larry Summers) into the Fed [10-15]. Higher education is being relegated again to a luxury of rich kids [16] (perpetuating poverty cycles) and Forbes, perhaps the worst offender when it comes to glorification of greed, allegedly "Calls Goldman CEO Holier Than Mother Teresa" [17].

Pessimists say that there is no way to fight all this corruption and pillaging will always prevail. They say that even Occupy protests failed. The truth of the matter is, what we need are the facts; we need to expose the perpetrators and make them step out in shame. For this, we need technical edge and we need to facilitate whistleblowers. They do exist even if at present they are some sort of conscientious objectors who are potential whistleblowers (afraid to ruin future careers). If tools are created and deployed to facilitate secure and private passage of data (the NSA would loathe such a thing with deep conviction and passion), then we will win the information war and leave no crooked executive unaccountable.

Related/contextual items from the news:



  1. Forced Bankruptcy and Privatization of the City of Detroit: Law Suit in Federal Court
    This extraordinary hearing had provided only a small window of time for legal action. Many of the people that testified were retirees, city workers, community organizers and professionals who met the deadline set by the Judge Steven Rhodes to submit their objections.


  2. Britain to float Royal Mail within weeks
    Britain embarked on its largest privatization in decades on Thursday as the government unveiled plans to sell the majority of the near 500-year-old state-owned Royal Mail postal service.


  3. China just bought 5% of Ukraine
    China has inked a deal to farm three million hectares (paywall), or about 11, 583 square miles of Ukrainian land over the span of half a century—which means the eastern European country will give up about 5% of its total land, or 9% of its arable farmland to feed China’s burgeoning population.


  4. Rich Man’s Recovery
    A few days ago, The Times published a report on a society that is being undermined by extreme inequality. This society claims to reward the best and brightest regardless of family background. In practice, however, the children of the wealthy benefit from opportunities and connections unavailable to children of the middle and working classes. And it was clear from the article that the gap between the society’s meritocratic ideology and its increasingly oligarchic reality is having a deeply demoralizing effect.


  5. Executive Excess 2013: Bailed out, Booted, and Busted
    Nearly 40 percent of the CEOs on the highest-paid lists from the past 20 years were eventually "bailed out, booted, or busted."


  6. Organized labor's decline in the US is well-known. But what drove it?


  7. Don’t Celebrate Yet
    There is no obvious reason why the Western powers should care whether it was the friends or the family of Mohammed which took over the leadership of his movement upon his death. However there is plainly an agenda led by the USA to support the Sunnis in their spiralling regional conflict with the Shia.

    This is not hard to rationalise. The ultra wealthy members of the Gulf regimes continue to act as the West’s proxies in the region and provide harbour to its neo-imperialist armed forces, while at the same time maintaining themselves a obscurantist version of Islam which would have horrified Mohammed and breaks virtually every precept of the Koran, particularly as regards treatment of women and of minority religions within their territory.


  8. Fears of Changing Global Economy Underscore G20 Summit


  9. Bill Black: Not with a Bang but a Whimper – the SEC Enforcement Team’s Propaganda Campaign
    The New York Times has one of those “inside” stories that unintentionally demonstrate the collapse of justice and financial reporting. This genre involves the media reporting gravely (and uncritically) the administration’s claims that its failure to prosecute any elite for the largest and most destructive financial frauds in history actually demonstrates the exceptional ethical rectitude of the non-prosecutors and non-enforcers. Journalists, unlike alchemists, can transmute dross into gold. In the NYT’s account a pathetic failure of competence, integrity, and courage at the SEC is reimagined as a fantastic triumph of vigor and ethics on the part of the SEC enforcement attorney who refused to seek to hold Lehman’s senior officers accountable for their violations but otherwise became the scourge of elite frauds. In the end, he is promoted for his dedication to “justice” and is now the anti-enforcement leader of the SEC’s enforcement group.


  10. The media's disgraceful acquiescence to Larry Summers' White House boosters
    Summers' record should bar him from the Fed chair. Why is the press letting anonymous administration officials promote him?


  11. Larry Summers and Financial Crises: Is He Being Graded on Attendance?
    In short, if we look at Larry Summers track record in dealing with crises it is pretty abysmal. But on attendance, he gets an "A."


  12. Joseph Stiglitz: Why Janet Yellen, Not Larry Summers, Should Lead the Fed


  13. The Confidential Memo at the Heart of the Global Financial Crisis
    The Treasury official playing the bankers’ secret End Game was Larry Summers. Today, Summers is Barack Obama’s leading choice for Chairman of the US Federal Reserve, the world’s central bank. If the confidential memo is authentic, then Summers shouldn’t be serving on the Fed, he should be serving hard time in some dungeon reserved for the criminally insane of the finance world.

    The memo is authentic.


  14. Failing Up to the Fed, A Reporters' Guide to the Paper Trail Surrounding Larry Summers
    The Washington Post's Ezra Klein reports that Larry Summers is the "overwhelming favorite" of the Obama team for the job as Federal Reserve chairman. To convince the American public that one of the chief architects of the 2008 financial crisis should be the chief regulator of the U.S. financial system, supporters of Summers have their work cut out for them.


  15. FIVE YEARS AFTER LEHMAN’S: DID WE LEARN ANYTHING?


    Or, at least, not much. While it would be nice to believe that Larry Summers had to withdraw from the race to take over the Fed because of his substantial role in creating the global financial collapse, I think it had more to do with his outsized personality. Before you start celebrating his defeat remember that Goldman Sachs still must approve any choice and President Obama may yet choose one of its anointed candidates over Janet Yellin.


  16. The student loan bubble is starting to burst
    The largest bank in the United States will stop making student loans in a few weeks.

    JPMorgan Chase has sent a memorandum to colleges notifying them that the bank will stop making new student loans in October, according to Reuters.


  17. Forbes Calls Goldman CEO Holier Than Mother Teresa
    I got a lot of letters from folks this week about an online column for Forbes written by a self-proclaimed Ayn Rand devotee named Harry Binswanger (if that's a nom de plume, it's not bad, although I might have gone for "Harry Kingbanger" or "Harry Wandwanker"). The piece had the entertainingly provocative title, "Give Back? Yes, It's Time for the 99% to Give Back to the 1%" and contained a number of innovatively slavish proposals to aid the beleaguered and misunderstood rich, including a not-kidding-at-all plan to exempt anyone who makes over a million dollars from income taxes.


Recent Techrights' Posts

What's Very Vexing to GAFAM, EPO and Others Is That It's Incredibly Hard to Censor Us (and Nobody Ever Successfully Did That Before)
resist, do not capitulate
Receiving SLAPPs and Collecting Them Like Trophies (the SLAPPs Always Fail)
People who file lawsuits bring even more attention to themselves (or to embarrassing statements about them)
Year of GNU/Linux on the Laptop?
It's not happening only in Lenovo
What People Must Understand About the Open Source Initiative (OSI)
some facts about the Open Source Initiative (OSI)
More Copyright Lawsuits Against LLM Slop Providers and Suppliers of LLM Slopfarms Would Benefit Society
It's not just bad for the Web and for society; it's also legally dangerous
In defence of JD Vance, death of Pope Francis
Reprinted with permission from Daniel Pocock
Three Years in Prison for Disney Employee’s ‘Menu Hacking’: The Economic Fallout of Digital Menus
Reprinted with permission from Ryan Farmer
 
Microsoft Isn't on the Map in USSR
To them, it's either Google or Yandex
In Central America Windows Became a Small Force
These are countries where Windows used to have well over 95% of the "market"
Site May be Even Faster Now
It basically takes less than a tenth of a second to serve the page
Many of the Scandals Are Interconnected (Overlapping People and Corporations)
We're only getting started
Links 26/04/2025: General Assassinated in the Town of Balashikha, US Promoting Seafloor Mining
Links for the day
Links 26/04/2025: Facebook Layoffs Again, Remembering What's Real, and Say No to Mass Surveillance
Links for the day
Links 26/04/2025: NOAA Budget Cuts and "Dog Days Ahead"
Links for the day
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Friday, April 25, 2025
IRC logs for Friday, April 25, 2025
Links 25/04/2025: Slop Fatigue and Patent Judges Flocking to Fake, Unconstitutional and Illegal Kangaroo Court (UPC, Captured 'Justice')
Links for the day
Gemini Links 25/04/2025: Night Manager and Devuan in Hosting
Links for the day
Approaching 10,000 Articles/Pages Since Going Static
Trying to silence or derail the site was always a dumb strategy
Windows Falls to New Lows in Nicaragua, Now Below a Quarter (It Used to be Almost 100%)
Another all-time low for Windows
Microsoft is Shedding Off Loads of Staff and That Can be Dangerous Too
Working for Microsoft is a choice; nobody forces you to do it
Richard Stallman and the Unix Philosophy
When asked about systemd people must remember that RMS speaks as an active Board member of the FSF and also the founder of the FSF
The Cost (to Linux) of LLM Slop
Slop 'artists' like Fagioli are far from harmless
Links 25/04/2025: Ubisoft Spyware, Hegseth Fails at Tech on Every Level
Links for the day
Gemini Links 25/04/2025: Food Forest Update and Facebook Destroying the Net
Links for the day
Get Rid of Back Doors, Don't Obsess Over Bounties and Other Corporate PR Stunts (or Needless Reboot Rituals)
Security as a term has mostly lost its meaning due to repeated misuse for many years
Serial Sloppers Are Killing the Web (They Probably Don't Care, Either)
Slop is a disease on the Web
Streaming Apps Are “Investor Fraud” That Kills the Planet
Reprinted with permission from Ryan Farmer
Things Get Increasingly Nasty at Microsoft Ahead of the Fake Results and May's Mass Layoffs Wave
They try to get people to 'resign' so that they won't count as layoffs and the company's 'wellbeing' will seem better
IBM's Debt Ballooned by 8.5 Billion Dollars in Just 3 Months!
Hallmark of a company in a state of disarray, trying to spend its way out of trouble
Big Trouble in GNOME
even GNOME people admit the CoC went wrong
Slopping the Trough: Disney Plus Loses Billions and the Decline of Physical Media in America
Reprinted with permission from Ryan Farmer
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Thursday, April 24, 2025
IRC logs for Thursday, April 24, 2025
Links 24/04/2025: GAFAM Problems and No Peace (or Ceasefire) in Sight
Links for the day
Slopfarms on the Web Almost Always Generate Anti-Linux FUD When They Produce "Linux" Output
Welcome to the dying Web
Richard Stallman's Oxford Talk Has Just Ended, Here Are Some Photos
he might hop over to another European country
Gemini Links 24/04/2025: Birthday and Good Work of Academia in Esotericism
Links for the day
Links 24/04/2025: EU fines Apple and Facebook, Another Microsoft GitHub Security Blunder
Links for the day
New Article Explains How the GPL Came About and WordPress Having Copyleft Obligations
Having been involved in the WordPress development community since almost the beginning, I know why it chose the GPL and how it restricts abuse by Automattic
IBM Gained Almost 6 Billion Dollars in "Goodwill" Value in Just 3 Months, According to IBM
Congrats to the management!
In Belarus, Yandex is Now Measured as 50 Times More 'Popular' (by Usage) Than Microsoft
Yandex continues to gain, whereas Bing cannot even register at 1%. Last month it was registered or measured at a measly 0.65%.
IBM Cannot Lie to Shareholders Anymore
"I would not be surprised if we see a layoff every quarter this year."
Dr Richard Stallman (RMS) Gives Talk in Oxford University in 4 Hours
If you live nearby, go there (it's free as in gratis)
Using a Law Firm's Licence to Exercise Politics Through Frivolous SLAPPs and Nastygrams (to Silence People, Remove Pages, Demand Fake or Forced 'Apologies')
Things must be getting really bad when lawyers act for raving antisemites
We're Working to Make Full-Site Search Available
This site has over 1,000 'wiki' pages, many thousands of documents, several thousands of videos, and about 50,000 blog posts or articles. We need to make them easier to find/navigate.
Links 24/04/2025: IBM Loses Many Contracts, Intel to Lay Off Over 20% (Not Counting Those Who Leave 'Voluntarily')
Links for the day
Richard Stallman Can Explain to Oxford Artificial Intelligence Society Why LLM Slop is Not Artificial Intelligence and Why It Hurts Society
another 'crop' of LLM slop that damages GNU/Linux and facts
Over at Tux Machines...
GNU/Linux news for the past day
IRC Proceedings: Wednesday, April 23, 2025
IRC logs for Wednesday, April 23, 2025