Red Tory has a story up entitled Fall of the Wall Street Wizards, and it's about 4 investment type folk getting caught doing the naughty. These infractions appear to be in the millions, rather than the billions/trillions, so small fish I suppose, but the story begs some questions. The impression is given that they were caught because people tried to get their money out of the investments the scamsters had set up, and couldn't.
Nothing to do with any regulatory body. They didn't find it. Nooooo..... So, why not? What exactly have those people been doing in recent years? Why didn't we hear from the politico's and those representing the financial conscience? I suggest the very same reasons they are currently ass kissing the money folk.
Then there was that Conrad Black thing. The millions that became $1 million, and a healthy company that made people money, now gone and even the remnants are in tatters. Why is that, one has to ask? So how come these regulatory bodies were so diligent in that case? Oh right, they were sending a message to Corporate America and their derivatives. It took them how long to react to Madoff?
I suspect ole Bern was a master of the game taught by his ancestors. Don't forget the little people. Spread the grease far enough, and things get slippery for everyone.
Comrade Pistoff
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I don't know about Madoff's ancestors Comrade but I know there are many of his investors who are pissed off about what happened.
ReplyDeleteHopefully this link will put things in perspective.
http://www.cbc.ca/news/citizenbytes/2008/11/my_stance_the_economy.html
Not for the faint-hearted!
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First read below before looking at pic (can't supply pic)
A pack of dogs attacking a crocodile in Kruger Park. The crocodile, one of the oldest and ultimate predators, normally considered the 'apex predator', can still fall victim to implemented 'team work' strategy, made possible due to the tight knit social structure and survival of the pack mentality bred into the canines.
See the remarkable photograph attached, courtesy of Nature Magazine. Note that the Alpha dog has a muzzle hold on the croc' preventing it from breathing, while another dog has a hold on the tail to keep it from thrashing. The third dog attacks the soft underbelly of the croc'.
(The 'croc' in this case was a soft, cuddly toy, and the dogs were playing with it!).
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THOUGHT FOR THE DAY! (Courtesy wrh.com)
"My greatest wealth is the deep stillness in which I strive and grow and win what the world cannot take from me with fire or sword." -- Johann Wolfgang Von Goethe
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Colorado's oldest paper ceases publishing today (Friday). More msm garbage bites the dust! Pepsi and IBM are more credit worthy than the US govt. Says a lot for public 'over'spending!
Worldwide economic upheaval leads to . . . unrest (to put it mildly). -- http://tinyurl.com/crx3e4
Houses at $50,000 (or are they tin sheds?) -- http://www.dailyreckoning.com/
Quotes from GD1. See lead-in. -- http://tinyurl.com/bl8otv
"A few select quotes during the depression years of 1929 to 1931.
"Notice the 'Expert' opinions which convey optimism, the bank bailouts, government assurances, the Hoover (Paulson) plan, and the deliberate attempt by the main stream media to manufacture consent for bailing out Wall St. Has anything changed?"
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This is another view of what is going on. -- http://tinyurl.com/cubppl
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BTW, Windows 7 is Windows Vista with a few extras added on, but basically the same machine, different name. FWIW, if I ever buy one,I would have a techie download and install Linux or Ubuntu (free downloads) over Windows -- wouldn't touch their junk.
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If history is any indicator, the final low for the stock market won't happen for a couple years - unless we have a Japan-like slump...
Gold has resisted the general market downtrend and is moving in the opposite direction...question marks are unwanted and unloved during the boom years. But now...