WHAT IS MARTIN WOLF SAYING TODAY?

At first Bilderberger Martin Wolf's comment in the FT today appears to be possibly sympathetic to the plight that faces most of humanity.

The banks were naughty. They gambled etc etc etc.

But then he writes this gem.

This recovery has been no accident. When central bank money is almost free, prices of risky assets are recovering and competitors have disappeared or are weakened, making money is a relatively simple matter for the strong survivors.

[source : How to manage the gigantic financial cuckoo in our nest, FT 21/10/2009]

Wolf says that we mustn't impose a windfall tax despite billions being paid in bonuses.

He ends with this peculiar paragraph, for this is where his apparent sympathy shows.

Either we impose a credible threat of bankruptcy, or institutions we have to support are made safer, or, better, we have both of these. Open-ended insurance of weakly regulated institutions that take complex gambles is intolerable. We dare not return to business as usual. It is as simple – and brutal – as that.

Wolf then supplies four graphs that show the winners and losers of the crisis.

For the US Market Value chart at the start of 2007 J P Morgan Chase was third largest in market value, nearly half the values of Citi and Bank of America. But now J P Morgan Chase is top dog with Citi and BoA saddled with tens of billions of TARP bailouts while JPMC, having bought several competitors, has repaid its bailout.

For US Investment banks Goldman Sachs was just about top but now the competition is nowhere to be seen.

And for European banks the main beneficiary has been Banco Santander.

These three, J P Morgan Chase, Goldman Sachs and Banco Santander, have regular attendees at Bilderberg. The others do not, though Citi has had a couple over the years, but nowhere near as much as the other three main beneficiaries.

And Martin Wolf himself is a regular too.

Yet Wolf fails to suggest that maybe, just maybe, something was planned at Bilderberg involving top people from JPMC, GS and BS.

Bilderberg offers the ideal opportunity to plan a conspiracy. Very powerful people meet behind closed doors for a few days and discuss problems in secrecy.

Whether Citi has been deliberately brought down to benefit JPMC or not by a Bilderberg insider implementing damaging policies is up for debate. The simple and brutal facts are this;
1. JPMC is run by one of the most evil men on the planet, who also runs Bilderberg.
2. Bilderbergers occupying key positions in US finance have willingly agreed to bail out some special banks like JPMC, but let others sink or be purchased with funny money.
3. Banks run by regular Bilderbergers have done rather well (see first quote from Wolf above).
(i) JPMC run by David Rockefeller (Bilderberg steering committee)
(ii) Goldman Sachs run by Peter Sutherland (Bilderberg steering committee)
(iii) Deutsche Bank run by Josef Ackermann (Bilderberg steering committee)
(iv) Banco Santander run by Matías Rodriguez Inciarte

They've all done rather well, thank you very much.

And I think I know why...