Monday, March 9, 2009

Big Tony asks The Godfather: Are We Really in a Legitimate Business?

Relaxing in their offshore tax free and money haven and enjoying the sun by the pool are the now legitimate family firm of The Godfather and Big Tony.

Big Tony: “Boss, I know you said we are now in a legitimate financial business, but I have my doubts.”

The Godfather: “Tony what is your problem?”

Big Tony: “I thought we had left the rackets behind. But, I have been reading financial reports that some of these financial institutions were getting Triple A ratings from some respected financial rating agencies for that rotten toxic useless toilet paper, called “asset backed” and “super investments.”

The Godfather: “Tony, smarten up. These financial institutions feed off each other. Think of them as one big financial family of marketeers. And surely it is good business practice to give an excellent rating report and keep the fees flowing back and forth? After all, nobody sells crap on the Street!”

Big Tony: “Boss are you saying, it is good to cook the books. I mean we were jailed at one time for manipulating our company reports.”

The Godfather: “Tony, we are respectable now. I wish you would stop harping back to the old days. Nobody cooks the books, these are the finest financial minds at work.”

Big Tony: “Sounds like some kind of fraudulent work to me.”

The Godfather: “Tony, I wish you would stop using words like fraudulent. Business does not operate in this manner.”

Big Tony: “Okay, Boss. Does plundering, pillaging and looting the system sound better?”

The Godfather: “Tony, respectable financial experts don’t loot the system. They are in a legal financial business, that’s why I took the family legitimate.”

Big Tony: “Boss, I know we are legitimate, but somehow, I get the feeling that some of these people we are associating with should be in jail.”

The Godfather: “Why is that Tony?”

Big Tony: “Well, some of these brilliant financial institutions were selling and promoting their useless crappy paper. Some made huge profits, now they are getting bailed out by taxpayers money. And some of these financial institutions also have subsidiaries offshore. Do you think that some of that bailout money could be going offshore? What a scam that would be!”

The Godfather: “Tony, respectable financial people do not get involved in scams. Some of them even advise governments. Certainly, some of the big financial boys have money offshore but that’s how the system works. You don’t expect them to pay taxes or take a hit for the credit crunch, do you?”

Big Tony: “Boss, if these guys steal any of our money I think we should call for a hit.”

The Godfather: “Tony, stop using words like steal and hit. The financial industry is above reproach. Remember, we are legitimate now and in good company. What more could you ask for?”

Big Tony: “Okay boss. But, why do I have the feeling that we are surrounded by racketeers?”

The Godfather: “Tony, stop using words like racketeers. These are honest financial analysts and advisers who know the system. Just be thankful we are legitimate players in it.”

Stephen J. Gray
January 4, 2009.