Chef Jim Posted December 21, 2011 Share Posted December 21, 2011 (edited) The top positions at the SEC are held by those who come from the industry, appointed by respective presidents, and they are going to go after their peers? Right...don't bite the hand that will soon feed you again... Almost all federal regulatory agencies have been coopted by the industries they regulate. As for the fraud, here's a good piece by former regulator Bill Black who prosecuted a number of cases from the S&L fraud in the 1980s. Bill Black So the whole FS industry has coopted their regulatory agencies? For every one company out there that has commited fraud there are 1,000's that follow the letter of the law. The broker/dealer I use not only follows the FINRA rules to the letter they've enacted their own rules that are much stricter. The difference is most people who don't commit murder don't view murder as just part of the system of society, they don't defended it and they'd report it if they saw it, they expect it to be investigated and the guilty parties brought to justice. So the whole FS industry views fraud as part of the system? They defend that fraud and wouldn't report it? You're an idiot and I don't throw that term out very often here. Oh and by the way you do know that the majority of complaints in this industry come from within the industry don't you? Of course youd don't Edited December 21, 2011 by Chef Jim Link to comment Share on other sites More sharing options...
erynthered Posted December 21, 2011 Share Posted December 21, 2011 So the whole FS industry has coopted their regulatory agencies? For every one company out there that has commited fraud there are 1,000's that follow the letter of the law. The broker/dealer I use not only follows the FINRA rules to the letter they've enacted their own rules that are much stricter. So the whole FS industry views fraud as part of the system? They defend that fraud and wouldn't report it? You're an idiot and I don't throw that term out very often here. felt good, did'nt it. Link to comment Share on other sites More sharing options...
3rdnlng Posted December 21, 2011 Share Posted December 21, 2011 I like the defense - sure we are unethical pricks who'd swindle you in a New York second but hey nothing we do is illegal because we own congress and we send our boys to write the actual law, and if we still want to break the few rules left no problem we've captured or defunded and destaffed the regulators, and after all that we have a army of lawyers that makes it too hard to bring us to trial. As the system collapses I can't wait until the big fish start eating the little fish. I've posted this before, and all it did was send you libs into hiding. I would hope that at least one of you would have the courage to view and then comment. Link to comment Share on other sites More sharing options...
DC Tom Posted December 21, 2011 Share Posted December 21, 2011 So the whole FS industry has coopted their regulatory agencies? For every one company out there that has commited fraud there are 1,000's that follow the letter of the law. The broker/dealer I use not only follows the FINRA rules to the letter they've enacted their own rules that are much stricter. So the whole FS industry views fraud as part of the system? They defend that fraud and wouldn't report it? You're an idiot and I don't throw that term out very often here. Oh and by the way you do know that the majority of complaints in this industry come from within the industry don't you? Of course youd don't Cue the Russia Times/Young Turks youtube video proving you wrong in 3...2...1... Link to comment Share on other sites More sharing options...
TPS Posted December 21, 2011 Share Posted December 21, 2011 So the whole FS industry has coopted their regulatory agencies? For every one company out there that has commited fraud there are 1,000's that follow the letter of the law. The broker/dealer I use not only follows the FINRA rules to the letter they've enacted their own rules that are much stricter. No. Of course there are 1000s of people who uphold laws and are not crooks. Just like the middle class has always played by the rules. The game is rigged for the top. The rest of us who play by the rules are the pawns they use... Link to comment Share on other sites More sharing options...
meazza Posted December 21, 2011 Share Posted December 21, 2011 No. Of course there are 1000s of people who uphold laws and are not crooks. Just like in every aspect of society. Just like the middle class has always played by the rules. Except for Nick Leeson, Toshihide Iguchi; Jerome Kerviel to name a few. The game is rigged for the top. Also the most volatile WSJ Though often described as a permanent plutocracy, this elite actually moves through a revolving door of riches, with some of today's nouveau riche becoming tomorrow's fallen kings. Only 27% of America's 400 top earners have made the list more than one year since 1994, one study shows. The rest of us who play by the rules are the pawns they use... You seem to be doing fine or are economics professors sheltered from the tyranny? Link to comment Share on other sites More sharing options...
GG Posted December 21, 2011 Share Posted December 21, 2011 You seem to be doing fine or are economics professors sheltered from the tyranny? Ever hear of tenure? Link to comment Share on other sites More sharing options...
....lybob Posted December 21, 2011 Author Share Posted December 21, 2011 Cue the Russia Times/Young Turks youtube video proving you wrong in 3...2...1... not to disappoint, a zing on Reagan and everything you hold dear Link to comment Share on other sites More sharing options...
erynthered Posted December 21, 2011 Share Posted December 21, 2011 (edited) not to disappoint, a zing on Reagan and everything you hold dear youtube.com/watch?v=ZBZdpYdEmgY Just wondering after watching the first 3 min's of your YT. Who controld the other branches of Govmit when RR was POTUS? I'd give you a Tip, but I'm sure you can Google it. Edited December 21, 2011 by erynthered Link to comment Share on other sites More sharing options...
RkFast Posted December 21, 2011 Share Posted December 21, 2011 Ill say this about those at the top who "rig" the system in their favor....at least they pay taxes and contribute to society. And the only way I get !@#$ed by them is if I happen to buy from the 1 out of 1,000 who is corrupt. Meanwhile....the welfare queens at Wal-Mart with their food stamps and dog-eared welfare cards from the Bush I Administration suck money out of my pocket on a daily...and I dont get a single say in that. And what do THEY contribute? Im getting it from both angles, those above and those below....but at least with the rich, I know they are kicking in to the kitty. Link to comment Share on other sites More sharing options...
Chef Jim Posted December 21, 2011 Share Posted December 21, 2011 (edited) Ill say this about those at the top who "rig" the system in their favor....at least they pay taxes and contribute to society. And the only way I get !@#$ed by them is if I happen to buy from the 1 out of 1,000 who is corrupt. Not necessarily. You can get !@#$ing rich sometimes by buying from the corrupt ones. Oh and by the way just because they've rigged the system to their advantage doesn't mean they're doing anything wrong. Edited December 21, 2011 by Chef Jim Link to comment Share on other sites More sharing options...
....lybob Posted December 21, 2011 Author Share Posted December 21, 2011 Forbes Business is more influential than people often realize, simply because it creates – or destroys – wealth. And wealth impacts pretty much anything we care about. Whether you analyze crime rates in a particular country, malnutrition, happiness, or infant mortality; a huge influence is how wealthy the particular society is. And wealth is created by business. As a consequence, for example, the 2008 banking crisis undoubtedly killed people. Infant mortality is closely related to wealth and consequently an economic crisis will among others lead to a surge in infant mortality, somewhere, in some country down the road. It also means that the strategic business choices made by CEOs such as Lehman’s Richard Fuld or RBS’s Fred Goodwin indirectly but significantly influence the survival chances of some baby boy or girl born on the outskirts of London, Cairo, or Detroit. And therefore, whether you like it or not, bankers kill. But let’s not forget that they give life too. The inverse of “bankers kill” is true too. If banks make wise choices, given their pivotal role in our economies, they can trigger a huge boost to the prosperity of many industries. And the profits, employment, and general wealth created through this boost will really improve the health and survival chances of the baby cradled by her mother somewhere on the outskirts of London, Cairo, or Detroit. "This Is Money UK" Bankers may be good at making money for themselves - and sometimes for their banks - but they are a drain on society, a study has found. Wealth destroyers: 'Trickle down' theory rubbished. It says they effectively take £7 from the rest of us for every £1 they create. Lowly-paid employees such as hospital cleaners and waste recycling workers are far more valuable according to the New Economics Foundation think tank. It rated different jobs on how much they help or hinder society through the social, economic and environmental effects of the work. The researchers said the traditional view of bankers creating wealth which trickles down to others is no longer correct. Instead, the actions of high-earning investment bankers have had 'damaging social effects'. They helped bring the global financial system to the brink of collapse - causing jobs to be lost rather than created and increasing the public debt. One of the top-paid bankers is Barclays president Bob Diamond, 58, who received more than £20m a year at the height of the banking boom. The report says advertising executives and tax accountants destroy even more of society's wealth as they create their own. Childcare workers, by contrast, free up potential wealth by helping parents keep working - generating up to £9.50 for every pound they are paid. In my opinion the banks/fiance industry has for the most part traded in their social good as vetters of capital to productive endeavors for more exciting gambling and manipulation of markets- these geniuses told us they found formulas for more returns at the same risk but they did not, they found greater returns for greater risk but they were able to externalize much of the risk. Link to comment Share on other sites More sharing options...
Alaska Darin Posted December 21, 2011 Share Posted December 21, 2011 I like the defense - sure we are unethical pricks who'd swindle you in a New York second but hey nothing we do is illegal because we own congress and we send our boys to write the actual law, and if we still want to break the few rules left no problem we've captured or defunded and destaffed the regulators, and after all that we have a army of lawyers that makes it too hard to bring us to trial. I'm sure the answer is MORE government, right liberal lemming? Link to comment Share on other sites More sharing options...
DC Tom Posted December 21, 2011 Share Posted December 21, 2011 Forbes "This Is Money UK" In my opinion the banks/fiance industry has for the most part traded in their social good as vetters of capital to productive endeavors for more exciting gambling and manipulation of markets- these geniuses told us they found formulas for more returns at the same risk but they did not, they found greater returns for greater risk but they were able to externalize much of the risk. "According to a study by people who believe traditional economics is harmful, traditional economics is harmful." God, you're retarded. Link to comment Share on other sites More sharing options...
meazza Posted December 21, 2011 Share Posted December 21, 2011 (edited) In my opinion the banks/fiance industry has for the most part traded in their social good as vetters of capital to productive endeavors for more exciting gambling and manipulation of markets- these geniuses told us they found formulas for more returns at the same risk but they did not, they found greater returns for greater risk but they were able to externalize much of the risk. I agree, getting married is a wasteful endeavor. Edited December 21, 2011 by meazza Link to comment Share on other sites More sharing options...
erynthered Posted December 21, 2011 Share Posted December 21, 2011 I agree, getting married is a wasteful endeavor. :lol: :lol: Link to comment Share on other sites More sharing options...
....lybob Posted December 21, 2011 Author Share Posted December 21, 2011 So the whole FS industry views fraud as part of the system? They defend that fraud and wouldn't report it? Not necessarily. You can get !@#$ing rich sometimes by buying from the corrupt ones. Oh and by the way just because they've rigged the system to their advantage doesn't mean they're doing anything wrong. what a !@#$ing joke you people are Link to comment Share on other sites More sharing options...
....lybob Posted December 21, 2011 Author Share Posted December 21, 2011 I'm sure the answer is MORE government, right liberal lemming? My answer would be the return of the Louisette but that's just me, most Libs are soft on crime. Link to comment Share on other sites More sharing options...
TPS Posted December 21, 2011 Share Posted December 21, 2011 Just like in every aspect of society. Except for Nick Leeson, Toshihide Iguchi; Jerome Kerviel to name a few. Also the most volatile You seem to be doing fine or are economics professors sheltered from the tyranny? I guess I should ignore the corrupt system given that I'm doing fine? The crisis exposed the system for what it is--Trillions of dollars of direct and back door bailouts by the central bank that serves the big banks. "YOu !@#$ up, we got your back." Privatized gains and socialized losses. Even "regular people" can see through facade now. People are pissed and they are not going to take it any longer. Ron Paul's support is coming from more than the Tea Party now. Feeling the threat, corporate media is starting the attacks. I've seen two attack pieces in the last couple days on Bloomberg. Also, it's not just finance, but a whole host of big industries that pay for protection from the whores in DC. Is there anyone here who wants to defend this corrupt system? Link to comment Share on other sites More sharing options...
meazza Posted December 21, 2011 Share Posted December 21, 2011 The crisis exposed the system for what it is--Trillions of dollars of direct and back door bailouts by the central bank that serves the big banks. "YOu !@#$ up, we got your back." Privatized gains and socialized losses. Even "regular people" can see through facade now. Tell me something. The first run on banks way back when, were they effectively badly managed or was it just panic? If you look at the last 3 years, which sectors of the HF industry have made the most money and why? Link to comment Share on other sites More sharing options...
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