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But the problem is that we live in a society where capitalism itself has become rampantly feral. Feral politicians cheat on their expenses, feral bankers plunder the public purse for all its worth, CEOs, hedge fund operators and private equity geniuses loot the world of wealth, telephone and credit card companies load mysterious charges on everyone's bills, shopkeepers price gouge, and, at the drop of a hat swindlers and scam artists get to practice three-card monte right up into the highest echelons of the corporate and political world.

Concerns €110bn bailout will not be enough. NYSE 200 points lower; FTSE 100 down 2.5%. Spain's stock market falls 5%; Germany 2%.

Markets in the United States and Europe fell and the euro hit another low for the year on Thursday after the European Central Bank disappointed investors hoping for decisive action to contain the euro zone's increasingly virulent debt crisis.

Not long ago I was sitting at home writing something for publication - I won't say what, except that it was a passage about a certain politician on the Hill. Out of habit I launched into a description that was full of nasty and personal language, and I was about to press on to the next part of the piece when suddenly I hit a mental speed bump. A voice in my head whispered - this really happened - "If you write that shit and Bernie Sanders sees it, he's going to be disappointed in you." So I went back and removed the gratuitous body blows from the article.

(interview with a Swiss banker  done in Mosсow 30.05.2011)  Q: Can you tell us something about your involvement in the Swiss banking business?A: I have worked for Swiss banks for many years. I was designated as one of the top directors of one of the biggest Swiss banks. During my work I was involved in the payment, in the direct payment in cash to a person who killed the president of a foreign country. I was in the meeting where it was decided to give this cash money to the killer. This gave me dramatic headaches and troubled my conscience. It was not the only case that was really bad but it was the worst. It was a payment instruction on order of a foreign secret service written by hand giving the order to pay a certain amount to a person who killed the top leader of a foreign country. And it was not the only case. We received several such hand written letters coming from foreign secret services giving the order to payout cash from secret accounts to fund revolutions or for the killing of people. I can confirm what John Perkins has written in his book "Confessions of an Economic Hit Man". There really exists just a system and Swiss banks are involved in such cases.

This story from Bloomberg just hit the wires this morning.  Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan.  Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.