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The criminal cartel of the financial elites has begun to feel not your pain, but their own. As the U.S. economy grinds slowly to a complete stop and the dollar’s value plummets, the big fish are beginning to feed on other big fish, never mind chum like us. It’s a very bad sign for us all.

The Federal Housing Finance Agency (FHFA), conservator for ousing FinaFinance Fannie Mae and Freddie Mac, no small titans, has recently filed suit against 17 major banks. Its suit alleges that the banks, led by Bank of America, violated federal securities laws and state laws in the sale of mortgage-backed securities. What would happen if Fannie and Freddie won the $196 billion in the lawsuit? For starters, Bank of America, the other 15 banks and GE would salve their wounds by passing along the hurt to you. You might expect an increase in fees through charges just to hold on to your account. Just what we all need right now. As for GE, it would take its losses by hiking prices.

Goldman Sachs is imploding over revelations that its CEO, Lloyd Blankfein, has lawyered up to protect against charges of perjury when Mr. Blankfein was before Congress. Not good, at least for Blankfein, but I have every confidence that he still has the power to wound all those below him, including you and I, as Goldman sinks. As happens with all monsters suffering a mortal wound, Blankfein and the other CEOs will lash out at everyone and everything around them in their death throes. Some will be able to survive armed with lawyers. Most, like you and I, can only cower in the corner and hope the wildly thrashing tail fails to hit us.

B of A is also being walloped by the State of Nevada, the General Accounting Office is being hauled to the carpet for ‘failure to disclose’ dirty secrets by Black Rock and JP Morgan, so the world of really big money can truly be said to be in melt down.

Did we mention that President Hugo Chavez is starting his own action against the U.S. for continued obstruction in the transference of all his gold being held here to what he considers a more secure and more easily accessible location at home in Venezuela. Who can blame him?

It promises to be a bloody scene as the big guys start to panic over the shrinking dollar. The growing infighting of the megabanks and controlling interests can only mean one thing, and it is probably worth making note of it. They don’t expect a financial recovery of any kind, and the only way they can defend against the effects of the sinking dollar is to practice the redistribution of wealth in earnest, at the top, amongst themselves. Their desperation is sobering, and wisdom dictates that there is little for any of us to cheer about as the titans begin to fall all around.

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