Put GITMO to Good Use in this Financial Crisis

The USA has spent a lot of tax-payer money on GITMO, the Guantanamo Bay Facility. Regardless of how you feel about the place or what goes on there, America has been kept safe from more terrorist attacks on its soil since 9/11.

Now President Obama has signed an executive order to close GITMO in a year. This is such a waste of tax-payer money. I have a great idea for its future use.

It seems to me GITMO could be used to house all the people from Congress, the Senate, Wall Street and the Banks who knowingly allowed the financial crisis to happen. It should include other countries as well, along with the IMF and the World Bank. These people allowed greed and self interest to take over from good judgement, fiduciary responsibility and common sense on a massive scale.

There is no way that financial people in-the-know, and who’s job it was to protect the financial institutions, did not know what was happening, even if they didn’t understand the consequences of not stopping it.

Anyone claiming they didn’t know is in denial. Their inaction has destroyed half the wealth of the world. But very few have been charged with anything yet.

When the public trust is placed in these people self-regulation is what matters. It’s a matter of integrity and personal moral strength. Both sadly lacking in the financial world.

Government regulations are there to catch the criminals. If the majority of the financial people know and ignore the existing regulations then they are party to the criminal and civil acts themselves. Whether they are the enforcers or the people meant to abide by the regulations they are guilty. What use are more regulations if the existing ones are not enforced or observed by the majority?

Collectively they have robbed many Baby Boomers of their retirement, never mind the rest of the world. They have destroyed your house value by forcing stupid lending practices. All around the world they have now worked hard to cover up their stupidity by using tax-payer money to bailout their mates. Many of those mates have refused to disclose how they have used TARP and other money they were given. This is unforgivable.

Let me repeat that. These people have destroyed millions of peoples lives and enriched themselves and must be made accountable.

They have done far more financial damage to the USA and the world in 20 months than Al-Qaeda could ever hope to do in 20 years.

People need to be brought to account wherever they are in the world. There must be consequences for their lack of action.

Those people that did try to stop the stupidity were shouted down with name calling and personal attacks. These “Doom and Gloom merchant” tried to warn the world but no one would listen. Everyone was making too much money and no one wanted to end the party.

I propose all Government Overseers of the Financial markets, all Reserve Bank Governors, all IMF board members, all Bank board members and all senior management, all ratings agencies board and executive staff from around the world who did not try to stop the destruction of the financial markets, be sent to Guantanamo Bay Facility for immediate interrogation.

We need to understand why highly intelligent and well educated people indulged in such financial terrorism at the expense of their fellow men and to the detriment of the whole world.

We need to know why so many of them ignored all the warning signs of a looming financial crisis and joined the feeding frenzy at the financial trough, fattening themselves at the expense of their clients and the public in general.

It’s that serious.

For those that refuse to say what they did with the TARP money water-boarding might be in order. No one should get billions, I’ll repeat that billions of tax payer dollars and not have to fully account for every damn dollar. Nor should they be allowed to refuse to say what they did this it.

The truth is they should not get any money at all – they should be allowed to fail as capitalism dictates they should.

I find it the height of hypocrisy watching hearings into the crisis chaired by people who were in part major contributors to the crisis. They too should be investigated and stripped of their office if found guilty.

Off to GITMO with the lot of them I say.

While ever the same people are in the same jobs in the same financial institutions and the government guys are also still in their jobs you should keep at least two years worth of cash close at hand.

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