13-04-21 Israel: People v Banksters 1:0

 

Tycoon Nochi Dankner, Stanley Fischer with his newly acquired Israeli ID in 2005.

Over the past decade, the Israeli economy has been taken over by a handful of tycoons, some - related to the Russian mafia.  In parallel, poverty in Israel doubled, and the middle class is close to disappearing.

One of the highlights of the corruption, has been in the extension of credit to the tycoons, through publicly owned banks and through the issuance of publicly traded bonds, with no adequate controls and no adequate guarantees, through rampant conflicts of interests, and a web of nepotism .  Eventually, the risks are held by the institutional retirement funds of the working people.

Now this house of cards, partly built under the watchful eyes of Governor of Bank of Israel Stanley Fischer (Bernanke's teacher), is collapsing.  Stanley Fischer, the man of perfect timing (left Citibank at the right time) has recently announced his almost immediate early retirement (June 2013), hoping again to leave the scene before the collapse.

Now, one of the tycoons, Nochi Dankner, is defaulting on a sum, estimated at NIS 4 billions (~USD 500 millions).  In US terns, this is pocket money, but for the Israeli economy it is a dreadful sum.  In comparison, a national state budget deficit of NIS 20-40 billions is the reason for implementing harsh austerity measures, European style...

Last week, it was published that one of the major Israeli banks (Bank Leumi) is waiving Dankner's debt of NIS 200 millions, with no adverse effects on Dankner - leaving him in control of his business pyramid scheme. (a classic "haircut")

A facebook and media protest erupted with promises of a boycott and demonstrations against the bank.

This morning, news says that a special meeting of the Board of Directors of the Bank met for a special emergency meeting and canceled the previously approved waiver agreement.

Needless to say, corruption of the courts was and is essential part of the process.  Assistant Presiding Judge of the Tel Aviv Court Vardah AlSheikh was caught falsifying her own court records in a major haircut litigatation.  In this case, even the Israeli Bar demanded her removal from the bench.  Regardless, the Israeli Minister of Justice, the Israeli Presiding Justice of the Supreme Court refused to take action. She is still handling the major haircut cases...

There is nothing like the power of the People, and no replacement for it in any representative system... and none to blaim, but the People, when they subject themselves to abuse...

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Occupy! 
11-12-10 Where should Occupy go next? Civil Disobedience in the footsteps of Thoreau and Gandhi!http :// www.scribd.com/doc/75348301/12-06-08 Courts and Judges as racketeering enterprises under RICO (the Racketeer Influenced and Corrupt Organizations Act) - key element in the current financial crisishttp://www.scribd.com/doc/96504009/Secede! The US in its current form is simply unmanageable...12-01-01 Secession - A Smart Business Move!http://www.scribd.com/doc/76877453/Get Up, stand up, stand up for your rights! 
_____________________________Take away justice, then, and what are governments but great bandit bands?Saint Augustine, Civitas Dei (City of God,4.4) 
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