LIBOR and Penn State Scandals — More than just
Coincidental Negative Thought Structure™
There are a few conclusions society can draw about how both these very ‘different in theory’ scandals have more than a few similar puzzle pieces that make up their ‘big pictures’.
• ‘Cartel’ Mentality. Like all outed conspiracies, there has been a concerted effort to minimize the damage by “sacrificing the damaged ‘player’ to protect the ‘game’” so to speak. But here are some very poignant similarities in both cases that show these scandals come from the same frames of mind, or ‘Negative Thought Structure™’, that perpetuates this very abusive behavior.
In both cases the powers that be circled the wagons, and everything to protect the ‘Programs’ themselves was done. This abuse was an exception and not the rule, supposedly.
In the LIBOR case, base borrowing permeates every aspect of our lives, and affects all of us in one way or another. Supposedly, these financial companies, if not directly involved, knew the true nature of this abuse, but would never let on that they know about it and would plea ‘Plausible Deniability’ if asked.
It is very sad to say – and it’s evident by the Evidence and Judgement handed down by the NCAA Monday July 23rd, that same Negative Thought Structure™ is what infected the entire Penn State Program – and permeates many “Holier Than Thou” institutions, organized religions, corporate cultures – the Abuse of Power at its core. And this ‘molestation pattern’ exposed at Penn State, it is very sad to say again, is just the tip of a much bigger iceberg underlying many of these aforementioned examples.
A better analogy than ‘Tip of the Iceberg’ is ‘Just One Tentacle of a much Bigger Seamonster’ – a Vampire Squid, if you will. But like a hit song that gets played to death, Matt Taibbi uses in his analogy of the banking system that even he is now sick of hearing about.
• Oblivious to Wrongdoing. If you listen to Sandusky’s uncensored interview with Bob Costas, Sandusky projects a trivialization of his actions by famously calling it ‘Horseplay’. He also projects an air of invincibility regarding his place as a “sacred cow’ of Penn State Football. When you listen to Dennis Kelleher, who has a track record of working with the perpetrators of the LIBOR scandal, he sums up the same “air of ‘Untouchability’” that these 16 bank reps have regarding their ‘Horseplay’ with their lending rates.
cartoons found by __ & ___, graphs courtesy of Bloomberg and Media Matters
• Isolation from the ‘Real World’. It has only recently come to my attention that Happy Valley is incredibly isolated in the state of Pennsylvania – hard to get to and out from. It is easy to see how the the PSU hierarchy, literally being ‘The Only Game in Town’, would think that normal rules really don’t apply to them.
It doesn’t have to be pointed out how this mindset applies to the ‘Too Big to Fail’ banking establishment, their self-perception and how they exist in this world and within their similar bubble.
• Bizarre Love Notes. Sandusky wrote to his victims, the LIBOR perpetrators wrote to each other, but both expressed very odd affections toward each other, further evidence of the insulated, delusional behavior they were involved in perpetrating.
• Second Mile+Adjustable Rate Bait=Complete Disregard for their Victims. The initial connection might be a bit of a stretch, but Sandusky is a founding member of Second Mile, a place where many troubled kids found ‘mentorship’ and guidance. In retrospect we now know Sandusky used this admirable charity as his own personal “feeding ground” for his victims. This is much like Florida Congressional Representative Foley being on the committee of missing and exploited children… putting the foxes in charge of the hen-house happens more often than not in our society.
The LIBOR correlation is offering ‘too good to be true’ adjustable rates to those people who could least afford it. This does put a measure of responsibility on those who accept these conditions, but now we are learning that the small kabal in charge of these rates were and are manipulating them and making the adjustments at their own whims for the most selfish of reasons ( as the LIBOR “love note” emails reveal ) show that this whole thing could be just a ploy to suck victims into the system for harvest, like Sandusky did with his select choices of his “Charity”.
The Banksters are much less victim selective, of course – but again, the victims in both cases turn out to be part of modern society’s most vulnerable people.
I’m sure there’s more – in both cases, we only have what mostly mainstream media has reported. But the conclusion drawn is that molestation exists on many levels in our society. Of course, sexual molestation is the most shocking.
But the same mindset sits behind what is being done to all of us with this LIBOR scandal.
We should be just as outraged as we would be if it were our own child, approached by any adult with Sandusky’s ‘Horseplay’ in mind.
Let’s hope that a similar punishment and judgement will be handed down to the perpetrators of the LIBOR scandal, as the NCAA has done with its judgement handed down on Penn State.