Goldman Sachs was charged by the SEC this morning with civil fraud in making billions (by taking out insurance policies from the likes of AIG in derivative forms called Credit Default Swaps) on the failure of the very same securities they made billions on just a few years earlier when they bundled them as AAA securities and sold them to you and me. This very charge by the SEC summarizes the entire financial crisis and sheds the light on the Memetic play between an unhealthy ENTERPRISE value system (vMEME)  that has escaped the detection of regulators many decades ago and a vacuous ORDER vMEME (SEC) who’s appointees use their time there as a springboard to lucrative careers on Wall Street (is there a more blatant case of the fox guarding the hen house?).

For those who are not familiar with the Wall Street culture, investment bankers and their regulators call themselves the “Masters of the  Universe”; a highly sophisticated and complex form of the finance ENTERPRISE vMEME that considers the ORDER/REGULATOR vMEME a nuisance that applies to lower forms of intelligence but not to them. This belief was further bolstered by over 3 decades of financial deregulation beginning with the Reagan administration and continuing on today where the SEC has become so ineffective that it must be abolished in order for a SYSTEMIC regulator to rise. For months the SEC couldn’t find anything wrong with Madoff after he handed himself in to them.

So, how much are we to believe that The Obama Administration and the current Congress are serious about regulating Wall Street? Goldman and the rest of the investment banking community have contributed tens of millions to Obama’s campaign and their congressional lobbyists have never been as powerful as they are today. This form of unhealthy ENTERPRISE vMEME is known to move at the speed of light when caught by the ORDER/REGULATOR vMEME. It has already started working on the next investment scheme that will evade the SEC’s detection and create another asset bubble resulting in another financial crisis and again the SEC will not know what’s happening.   I’m sure we’ll soon hear about an undisclosed settlement that will preserve Goldman’s stature as the “Destroyer God” in this Masters of The Universe play where the lives of millions are still being destroyed and global wealth gets more concentrated in the hands of the few on Wall Street.