SLL has called it a Corruptocracy. From Charles Hugh Smith at oftwominds.com:
We know you’re all just poor corrupt officials, but bleating excuses won’t save you from the karmic payoff.
The Federal Reserve can be summed up in two famous lines from the classic film Casablanca in which the corrupt police official Renault is ordered to close Rick’s cafe.
Renault: I’m shocked! Shocked to find that gambling is going on in here.
[The croupier hands Renault a wad of cash]: Your winnings, sir.
The Fed is totally, completely, fatally corrupt. Only those being handed their ill-gotten gains defend the Fed. Everyone who is isn’t totally, completely, fatally corrupt wants America’s financial Politburo tossed on the bonfire of history.
The Fed’s response to its highest-level officials minting millions in insider trading is as transparent as Captain Renault’s shock: only when the putrid corruption filling every nook and cranny of the Fed seeps out under the door does the Fed suddenly announce it’s shocked that insider trading is going on in here.
STRAIGHT LINE LOGIC 