Who went to jail? Madoff? So since we killed bin Laden does that mean we took care of terrorism? Did the terrorists learn a lesson? The problem is fines don't mean squat. Hard time, that will stop them for sure. Madoff will die in prison where he belongs. Do you stop from speeding because you may get fined? Exactly. Multi millionaires feel the same way about fines.
[O]ne of the biggest problems about the collapse of Lehman and the subsequent financial crisis and the whole subprime lending fiasco is that a lot of that stuff wasn’t necessarily illegal, it was just immoral or inappropriate or reckless. That’s exactly why we needed to pass Dodd-Frank, to prohibit some of these practices….
I think part of people’s frustrations, part of my frustration, was a lot of practices that should not have been allowed weren’t necessarily against the law, but they had a huge destructive impact.
Michael J. McGrath Jr., former president of U.S. Mortgage Corp., got 14 years in prison for orchestrating a conspiracy that defrauded credit unions and Fannie Mae of $136 million.
Lee B. Farkas, former chairman of Taylor, Bean & Whitaker Mortgage Corp., got 30 years in prison and was ordered to forfeit $38.5 million, for his role in a $3 billion scheme to rip off banks through the sale of fake mortgage assets.
Who went to jail? Madoff? So since we killed bin Laden does that mean we took care of terrorism? Did the terrorists learn a lesson? The problem is fines don't mean squat. Hard time, that will stop them for sure. Madoff will die in prison where he belongs. Do you stop from speeding because you may get fined? Exactly. Multi millionaires feel the same way about fines.
[O]ne of the biggest problems about the collapse of Lehman and the subsequent financial crisis and the whole subprime lending fiasco is that a lot of that stuff wasn’t necessarily illegal, it was just immoral or inappropriate or reckless. That’s exactly why we needed to pass Dodd-Frank, to prohibit some of these practices….
I think part of people’s frustrations, part of my frustration, was a lot of practices that should not have been allowed weren’t necessarily against the law, but they had a huge destructive impact.
Michael J. McGrath Jr., former president of U.S. Mortgage Corp., got 14 years in prison for orchestrating a conspiracy that defrauded credit unions and Fannie Mae of $136 million.
Lee B. Farkas, former chairman of Taylor, Bean & Whitaker Mortgage Corp., got 30 years in prison and was ordered to forfeit $38.5 million, for his role in a $3 billion scheme to rip off banks through the sale of fake mortgage assets.
Here's an idea I have thought of for awhile. Base corporate taxes on the amount of Americans that are employed by companies doing business here.
Say for instance, you have 100% of your workforce here you pay Zero corporate taxes. The more you employ overseas the higher the tax rate. It would be no different than when a city lets a company slide on property taxes in order to entice them to come in and create jobs.
Here's an idea I have thought of for awhile. Base corporate taxes on the amount of Americans that are employed by companies doing business here.
Say for instance, you have 100% of your workforce here you pay Zero corporate taxes. The more you employ overseas the higher the tax rate. It would be no different than when a city lets a company slide on property taxes in order to entice them to come in and create jobs.
Among college-educated information technology workers under age 30, temporary workers from abroad constitute a large majority. Even in electrical and electronic engineering—an occupation that is right at the heart of high-tech innovation but that also has been heavily outsourced abroad—U.S. employment in 2013 declined to about 300,000, down 35,000 and over 10 percent, from 2012, and down from about 385,000 in 2002. Unemployment rates for electrical engineers rose to a surprisingly high 4.8 percent in 2013.
Claims of workforce shortages in science and engineering are hardly new. Indeed there have been no fewer than five “rounds” of “alarm/boom/bust” cycles since World War II. Each lasted about 10 to 15 years, and was initiated by alarms of “shortages,” followed by policies to increase the supply of scientists and engineers. Unfortunately most were followed by painful busts—mass layoffs, hiring freezes, and funding cuts that inflicted severe damage to careers of both mature professionals and the booming numbers of emerging graduates, while also discouraging new entrants to these fields.
Correct. To be efficient you have to use talent where you can find it. Sadly, we are not always the leader in cutting edge jobs. Demand must be met and the time to train someone and get them experience is time consuming and costly.
But IT and science are small compared to MFG jobs that were lost to this. Two diff sectors and two very diff reasons why.
Among college-educated information technology workers under age 30, temporary workers from abroad constitute a large majority. Even in electrical and electronic engineering—an occupation that is right at the heart of high-tech innovation but that also has been heavily outsourced abroad—U.S. employment in 2013 declined to about 300,000, down 35,000 and over 10 percent, from 2012, and down from about 385,000 in 2002. Unemployment rates for electrical engineers rose to a surprisingly high 4.8 percent in 2013.
Claims of workforce shortages in science and engineering are hardly new. Indeed there have been no fewer than five “rounds” of “alarm/boom/bust” cycles since World War II. Each lasted about 10 to 15 years, and was initiated by alarms of “shortages,” followed by policies to increase the supply of scientists and engineers. Unfortunately most were followed by painful busts—mass layoffs, hiring freezes, and funding cuts that inflicted severe damage to careers of both mature professionals and the booming numbers of emerging graduates, while also discouraging new entrants to these fields.
Correct. To be efficient you have to use talent where you can find it. Sadly, we are not always the leader in cutting edge jobs. Demand must be met and the time to train someone and get them experience is time consuming and costly.
But IT and science are small compared to MFG jobs that were lost to this. Two diff sectors and two very diff reasons why.
"We were told to lie to customers," said Simone Gordon, who worked in the bank's loss mitigation department until February 2012. "Site leaders regularly told us that the more we delayed the HAMP [loan] modification process, the more fees Bank of America would collect."
In sworn testimony, six former employees describe what they saw behind the scenes of an often opaque process that has frustrated homeowners, their attorneys and housing counselors.
They describe systematic efforts to undermine the program by routinely denying loan modifications to qualified applicants, withholding reviews of completed applications, steering applicants to costlier "in-house" loans and paying bonuses to employees based on the number of new foreclosures they initiated.
By the way I was caught up in this scam with B of A because I had a mortgage with them. I know it's the truth. It was only when I went to my State Attorney General and got them involved that they worked with me.
Yes. Remember you saying something before about it I think. So certainly you are jaded and that is understandable. Just like the fellow that lost his job. For sure I get that.
But, without knowing your details, sadly the ones that weren't duped into buying when they shouldn't or buying too much house, simply tried to see something as too good to be true.
"We were told to lie to customers," said Simone Gordon, who worked in the bank's loss mitigation department until February 2012. "Site leaders regularly told us that the more we delayed the HAMP [loan] modification process, the more fees Bank of America would collect."
In sworn testimony, six former employees describe what they saw behind the scenes of an often opaque process that has frustrated homeowners, their attorneys and housing counselors.
They describe systematic efforts to undermine the program by routinely denying loan modifications to qualified applicants, withholding reviews of completed applications, steering applicants to costlier "in-house" loans and paying bonuses to employees based on the number of new foreclosures they initiated.
By the way I was caught up in this scam with B of A because I had a mortgage with them. I know it's the truth. It was only when I went to my State Attorney General and got them involved that they worked with me.
Yes. Remember you saying something before about it I think. So certainly you are jaded and that is understandable. Just like the fellow that lost his job. For sure I get that.
But, without knowing your details, sadly the ones that weren't duped into buying when they shouldn't or buying too much house, simply tried to see something as too good to be true.
Joshua Holland: To date, a few loan officers — small fish — have been convicted of various offenses related to the financial crash. But none of the big bankers have faced any charges. And it’s not that the government has been losing cases in the courts. There’s simply been no concerted effort to prosecute these guys. Can you contrast that with what happened during the savings and loan scandal of the 1980s, and also give us your sense of why this has been the case?
Joshua Holland: To date, a few loan officers — small fish — have been convicted of various offenses related to the financial crash. But none of the big bankers have faced any charges. And it’s not that the government has been losing cases in the courts. There’s simply been no concerted effort to prosecute these guys. Can you contrast that with what happened during the savings and loan scandal of the 1980s, and also give us your sense of why this has been the case?
Take a look at Hillary's top 10 corporate donors. Financial corps could care less who is President as long as they keep making money, legal or not. This is exactly how the rich got richer while Obama has been in office. As long as you own a piece of the White House the party staying there is irrelevant. Take Lloyd Blankfein for instance, he has now joined the billionaire club. All while his company was being fined hundreds of millions and Obama was in office. BTW he would have got there if Romney occupied the WH as well. Party means nothing to the 1%.
Sure. As I pointed out elite take advantage of any opportunity. Sometimes it really is illegal. But mostly it is not illegal. We that aren't elite are simply jealous and envious of people making more money is all.
Sure people align with a candidate. But really is there a point to it? Presidents really do very little that affect it---at least until Obama to an extent. Congress controls the passing of laws, funds, and policies. So you have to keep in mind who actually puts those in place and allows them to happen.
Again we sometimes want things to be illegal and maybe they should be --- that simply aren't. So we put in all sorts of regulation trying to fix it. Then it really becomes jumbled up.
Take a look at Hillary's top 10 corporate donors. Financial corps could care less who is President as long as they keep making money, legal or not. This is exactly how the rich got richer while Obama has been in office. As long as you own a piece of the White House the party staying there is irrelevant. Take Lloyd Blankfein for instance, he has now joined the billionaire club. All while his company was being fined hundreds of millions and Obama was in office. BTW he would have got there if Romney occupied the WH as well. Party means nothing to the 1%.
Sure. As I pointed out elite take advantage of any opportunity. Sometimes it really is illegal. But mostly it is not illegal. We that aren't elite are simply jealous and envious of people making more money is all.
Sure people align with a candidate. But really is there a point to it? Presidents really do very little that affect it---at least until Obama to an extent. Congress controls the passing of laws, funds, and policies. So you have to keep in mind who actually puts those in place and allows them to happen.
Again we sometimes want things to be illegal and maybe they should be --- that simply aren't. So we put in all sorts of regulation trying to fix it. Then it really becomes jumbled up.
Yes. Thought the Moyers article explained it quite well. Read the whole thing when you get time. It is very interesting. There was a longer and more indepth one some time back. Maybe Forbes? But if interested I can try to track it down for you.
But it is amazing how the truth and what he media and even the politicians, with an agenda, promote the story one way. When for sure it is not that clear cut and dried.
When you have something like the Depression or the Recession or Banking Failure. We so much want to find a scapegoat and blame someone. But sometime it is not really blatant illegal ism that caused it so much as a plethora of things.
Yes. Thought the Moyers article explained it quite well. Read the whole thing when you get time. It is very interesting. There was a longer and more indepth one some time back. Maybe Forbes? But if interested I can try to track it down for you.
But it is amazing how the truth and what he media and even the politicians, with an agenda, promote the story one way. When for sure it is not that clear cut and dried.
When you have something like the Depression or the Recession or Banking Failure. We so much want to find a scapegoat and blame someone. But sometime it is not really blatant illegal ism that caused it so much as a plethora of things.
Can't copy and paste on this page. Because I did this on phone and apparently jacked up the page.
But yes. Both sides have looked at the tax thing to encourage companies to stick with American employees.
But what do you do if you need a certain type of skill and don't have it. But India is sitting there with a heap of it? You can see how companies would argue it is not in their best interest to hire lackluster employees.
Can't copy and paste on this page. Because I did this on phone and apparently jacked up the page.
But yes. Both sides have looked at the tax thing to encourage companies to stick with American employees.
But what do you do if you need a certain type of skill and don't have it. But India is sitting there with a heap of it? You can see how companies would argue it is not in their best interest to hire lackluster employees.
Ran into some financial problems in 08 and got behind in my mortgage 6 months. My business dropped 38% from 2007 to 2008. Got the money to pay catch up and pay the 6 months off. Was quoted 18k and some change and I had 40 days to pay it off. I asked if the amount would be the same in 40 days and was assured it would not go up. On about day 35 I called to get the address to send the check and verify the amount. I was told the new amount was 24k and change. I explained I was quoted a different amount and was told sorry they were wrong. That was the start of a three year ordeal.
I filed one lawsuit. The property went to foreclosure four times only to be called off. I dealt with three different law firms the bank had hired. Was denied a refi twice based on the fact that they said my wife and I didn't make enough money to qualify for the home I was already in and payed on time for 7+ years. Income had come back and was more than what it took to qualify in the first place. Remember in 2000 we weren't seeing no doc loans yet so it was based on our income.
Three plus years later we emerged victorious. Very few did. We were lucky. Like I said, involving the AG was a turning point for us. I couldn't find an attorney to take the case. Contacted 6 different firms around my state. You see, they all want to work for the deep pocket banks instead. In fact one I contacted ended up being one of the three firms I mentioned that B of A hired to take try and foreclose my home. They all thought it was fruitless. My own cousin who is an attorney and sits on a bank board told me I was wasting my time. Realtors telling me short sale was they way to go.
Here's the kicker though.............
When we finally got approved my new mortgage was now higher than my previous one was. Yet the whole time I was told we didn't qualify because we didn't make enough. A guy can't make this $hit up!!!
So yes I do think that our financial institutions were corrupt and are still corrupt. I have tons of evidence to back up my opinion as well. Once again, we will have to agree to disagree. I just don't buy your line " it's what they had to work with". I know corruption when I smell it.
Ran into some financial problems in 08 and got behind in my mortgage 6 months. My business dropped 38% from 2007 to 2008. Got the money to pay catch up and pay the 6 months off. Was quoted 18k and some change and I had 40 days to pay it off. I asked if the amount would be the same in 40 days and was assured it would not go up. On about day 35 I called to get the address to send the check and verify the amount. I was told the new amount was 24k and change. I explained I was quoted a different amount and was told sorry they were wrong. That was the start of a three year ordeal.
I filed one lawsuit. The property went to foreclosure four times only to be called off. I dealt with three different law firms the bank had hired. Was denied a refi twice based on the fact that they said my wife and I didn't make enough money to qualify for the home I was already in and payed on time for 7+ years. Income had come back and was more than what it took to qualify in the first place. Remember in 2000 we weren't seeing no doc loans yet so it was based on our income.
Three plus years later we emerged victorious. Very few did. We were lucky. Like I said, involving the AG was a turning point for us. I couldn't find an attorney to take the case. Contacted 6 different firms around my state. You see, they all want to work for the deep pocket banks instead. In fact one I contacted ended up being one of the three firms I mentioned that B of A hired to take try and foreclose my home. They all thought it was fruitless. My own cousin who is an attorney and sits on a bank board told me I was wasting my time. Realtors telling me short sale was they way to go.
Here's the kicker though.............
When we finally got approved my new mortgage was now higher than my previous one was. Yet the whole time I was told we didn't qualify because we didn't make enough. A guy can't make this $hit up!!!
So yes I do think that our financial institutions were corrupt and are still corrupt. I have tons of evidence to back up my opinion as well. Once again, we will have to agree to disagree. I just don't buy your line " it's what they had to work with". I know corruption when I smell it.
When someone tells me I don't like Obama because he is black even though what I really don't like are his policies.
When someone tells me I am jealous of rich people because they make more money than me when in fact it is the corrupt way they earned it that bothers me. Legal or not. I am not real fond of immoral people either that financially take advantage of people because they can. I'm funny that way.
BTW, Lloyd Blankfein is quoted as saying he is "doing God's work".
When someone tells me I don't like Obama because he is black even though what I really don't like are his policies.
When someone tells me I am jealous of rich people because they make more money than me when in fact it is the corrupt way they earned it that bothers me. Legal or not. I am not real fond of immoral people either that financially take advantage of people because they can. I'm funny that way.
BTW, Lloyd Blankfein is quoted as saying he is "doing God's work".
Sure. There are lots of others that went to jail. And for sure some that didn't. But the question is did they not go to jail because they didn't do anything illegal? Immoral, unethical, etc. Those deserve all the punishment they can get. But if you can't legally out them in jail---you simply can't do it.
Very sorry for your situation. I understand folks do get behind and you hope a verbal agreement sticks later. But yours may be slightly different than others. Others, simply weren't aware enough to realize the situation they were getting into. And yes, I am sure there are still others that were lied to and duped into a bad deal. But my point is all are not the same. But the media and talking points will play it up as if they were. And it is so easy because folks tend to be upset with the more fortunate out of envy or whatever else.
The problem is immorality is not the overriding theme. But for sure we don't like those folks either. The bottom line with most---not saying you---but, most people, i
Sure. There are lots of others that went to jail. And for sure some that didn't. But the question is did they not go to jail because they didn't do anything illegal? Immoral, unethical, etc. Those deserve all the punishment they can get. But if you can't legally out them in jail---you simply can't do it.
Very sorry for your situation. I understand folks do get behind and you hope a verbal agreement sticks later. But yours may be slightly different than others. Others, simply weren't aware enough to realize the situation they were getting into. And yes, I am sure there are still others that were lied to and duped into a bad deal. But my point is all are not the same. But the media and talking points will play it up as if they were. And it is so easy because folks tend to be upset with the more fortunate out of envy or whatever else.
The problem is immorality is not the overriding theme. But for sure we don't like those folks either. The bottom line with most---not saying you---but, most people, i
Is that they tend to be envious of rich folks and think they must have done something illegal or corrupt to get there. The overwhelming truth is that most did not. Most did it through hard work and perseverance. It is the corrupt bankers and businessman that get all the play. It is a wrong that should be righted! But it is wrong to assume they are all bad. Just as we look at big companies as bad--they simply aren't. Small businesses employ far more people and are far more 'abusive' to employees. But the big com get the bad publicity because it sells the talking point better.
If it weren't for the good bankers imagine how bad off the country would be. Obviously if you have a bad experience it is harder to see it this way. Just as if a dr misses something or is a quack. Or if a mechanic doesn't fix your car. Or whatever is a better example. Then it is hard to see the rest of the profession as it truly is. We want and need a scapegoat.
There are immortal and unethical people in all fields. Sure there are some that hurt other more than others fields. And I get that. But by and large banks and companies are good. And a lot of the bad from this last episode---clearly not saying you, in your case---lies at the feet of the individuals that simply feel for the okie-doke through their own ignorance and/ or lack of due diligence. If something looks too good to be true it really is. Otherwise it would've been done like that all the while. Some people are meant to be lifelong renters for example.
Remember the lady--Texas maybe--that was siphoning funds from the small town for years. Really put the town in a bind. Etc. Sure if you put some people around money and opportunity they will do wrong. But not all.
Remember the fellow they have now. The dr that is charged with giving people fake cancer diagnoses and treatment when nothing was wrong with them. Or the vast Medicare/caid fraud that has been rampant.
A lot of things affected people and hurt them far more than the few corrupt banks. Certainly not to let them off the hook. But they just make a bigger splash. Etc etc.
Is that they tend to be envious of rich folks and think they must have done something illegal or corrupt to get there. The overwhelming truth is that most did not. Most did it through hard work and perseverance. It is the corrupt bankers and businessman that get all the play. It is a wrong that should be righted! But it is wrong to assume they are all bad. Just as we look at big companies as bad--they simply aren't. Small businesses employ far more people and are far more 'abusive' to employees. But the big com get the bad publicity because it sells the talking point better.
If it weren't for the good bankers imagine how bad off the country would be. Obviously if you have a bad experience it is harder to see it this way. Just as if a dr misses something or is a quack. Or if a mechanic doesn't fix your car. Or whatever is a better example. Then it is hard to see the rest of the profession as it truly is. We want and need a scapegoat.
There are immortal and unethical people in all fields. Sure there are some that hurt other more than others fields. And I get that. But by and large banks and companies are good. And a lot of the bad from this last episode---clearly not saying you, in your case---lies at the feet of the individuals that simply feel for the okie-doke through their own ignorance and/ or lack of due diligence. If something looks too good to be true it really is. Otherwise it would've been done like that all the while. Some people are meant to be lifelong renters for example.
Remember the lady--Texas maybe--that was siphoning funds from the small town for years. Really put the town in a bind. Etc. Sure if you put some people around money and opportunity they will do wrong. But not all.
Remember the fellow they have now. The dr that is charged with giving people fake cancer diagnoses and treatment when nothing was wrong with them. Or the vast Medicare/caid fraud that has been rampant.
A lot of things affected people and hurt them far more than the few corrupt banks. Certainly not to let them off the hook. But they just make a bigger splash. Etc etc.
And sure Enron, Adelphia, and so many other examples. Some for sure went to jail. But my point was not to try to find any that went to jail. Of course some did. Just wanted you to see why we didn't really prosecute like people thought we should have.
History simply repeats itself. Like the article points out about the Depression. Same thing. Loose regulation and oversight is very tempting for some. But not as illegal as we are led to believe. Sad that people are used car salesman at such a high level. But it is what it is.
And when you are someone you know are 'done wrong'. You want scapegoat---bad! I get that. Human nature.
And sure Enron, Adelphia, and so many other examples. Some for sure went to jail. But my point was not to try to find any that went to jail. Of course some did. Just wanted you to see why we didn't really prosecute like people thought we should have.
History simply repeats itself. Like the article points out about the Depression. Same thing. Loose regulation and oversight is very tempting for some. But not as illegal as we are led to believe. Sad that people are used car salesman at such a high level. But it is what it is.
And when you are someone you know are 'done wrong'. You want scapegoat---bad! I get that. Human nature.
First off if you haven't read any books by Michael Lewis you really should. He is a fabulous read.
Second, as l said I am not jealous of wealthy people but I am not a fan of corrupt wealthy people. Whether it is illegal or immoral I am not a fan and love to expose it. To say I am jaded by corrupt wealthy people is a huge understatement. That being said as a small business owner I deal with many wealthy people that are fantastic hard working people. I have also had more than my fair share of snakes that have built their wealth $crewing small guys like me.
Google "Yellowstone Club Wikipedia" and you will be looking at one of my best clients. Boy, the stories I could tell you about this place. You would have a real in depth look as to why I see things the way I do.
If you read this the answer is yes, at one time I was listed a a creditor. The good news is that the new owner is very wealthy and makes his money honest, ethical and legal. It can be done and then everyone has the opportunity to win (profit).
First off if you haven't read any books by Michael Lewis you really should. He is a fabulous read.
Second, as l said I am not jealous of wealthy people but I am not a fan of corrupt wealthy people. Whether it is illegal or immoral I am not a fan and love to expose it. To say I am jaded by corrupt wealthy people is a huge understatement. That being said as a small business owner I deal with many wealthy people that are fantastic hard working people. I have also had more than my fair share of snakes that have built their wealth $crewing small guys like me.
Google "Yellowstone Club Wikipedia" and you will be looking at one of my best clients. Boy, the stories I could tell you about this place. You would have a real in depth look as to why I see things the way I do.
If you read this the answer is yes, at one time I was listed a a creditor. The good news is that the new owner is very wealthy and makes his money honest, ethical and legal. It can be done and then everyone has the opportunity to win (profit).
As I mentioned about Lewis before some of his articles and books are up in the air. Including Moneyball that really got his name out there. It is clear that he has an agenda. But is not solidly backed up according to some folks. But he does bring up some very good points.
It is so easy to pick out the BAD ones. My whole point is the GOOD ones outweigh them by far. As a businessman you should realize this.
Think of all of the good ones you have dealt with. Right or wrong?
I realized being jaded also clouds your judgment when things like that happen. But you have to be honest about the rest. Right?
As I mentioned about Lewis before some of his articles and books are up in the air. Including Moneyball that really got his name out there. It is clear that he has an agenda. But is not solidly backed up according to some folks. But he does bring up some very good points.
It is so easy to pick out the BAD ones. My whole point is the GOOD ones outweigh them by far. As a businessman you should realize this.
Think of all of the good ones you have dealt with. Right or wrong?
I realized being jaded also clouds your judgment when things like that happen. But you have to be honest about the rest. Right?
What mean don't buy my line about its what they had to work with? I don't understand what you are referring to here?
I mean many of them new exactly what they were doing was wrong and did it anyways. For instance they knew these Mortgage Backed Securities were trash and sold them anyways. They had first hand information that many of these mortgages were 60 or 90 days past due and they bundled them and sold them as A rated securities. Complete and total scam. This has already been proven and admitted. It had nothing to do with "what they had to work with". Heck even the rating agencies were in on the scam.
What mean don't buy my line about its what they had to work with? I don't understand what you are referring to here?
I mean many of them new exactly what they were doing was wrong and did it anyways. For instance they knew these Mortgage Backed Securities were trash and sold them anyways. They had first hand information that many of these mortgages were 60 or 90 days past due and they bundled them and sold them as A rated securities. Complete and total scam. This has already been proven and admitted. It had nothing to do with "what they had to work with". Heck even the rating agencies were in on the scam.
I am honest with myself but I also prefer to keep my head out of the sand. I have read other people that have backed up Lewis and I like his credentials. Fairly well educated guy. Also there are a number of other authors one can read as well. I subscribe to the idea that if it quacks like a duck. Well............
I am honest with myself but I also prefer to keep my head out of the sand. I have read other people that have backed up Lewis and I like his credentials. Fairly well educated guy. Also there are a number of other authors one can read as well. I subscribe to the idea that if it quacks like a duck. Well............
Oh. Gotcha. Yes. Sure. Most all that did it knew what they were doing. Especially up the line. Sure. But was it illegal or immoral is the guy's point in the article. I may not like it. But is it wrong for them to take advantage of people's ignorance and stupidity or is it outright illegal?
That is where the regulation question comes in.
But I agree they knew what they were doing. No doubt about it.
Oh. Gotcha. Yes. Sure. Most all that did it knew what they were doing. Especially up the line. Sure. But was it illegal or immoral is the guy's point in the article. I may not like it. But is it wrong for them to take advantage of people's ignorance and stupidity or is it outright illegal?
That is where the regulation question comes in.
But I agree they knew what they were doing. No doubt about it.
It seems as if you are saying that since the good people in business outweigh the bad ones we should just forget about the rest and be thankful for the good ones. This is where you and I disagree. I say the bad ones need to be exposed and brought to justice. Our own government has admitted to dropping the ball on this. No one should ever be to big to fail or to big to be jailed. Period.
Have you ever got a zero interest loan from a bank? Well, banks got them. If my small business fails should I get a bailout? Why did we bail out GM but not other companies? And finally........
What sector of our economy has more influence on our government than the financial sector?
It seems as if you are saying that since the good people in business outweigh the bad ones we should just forget about the rest and be thankful for the good ones. This is where you and I disagree. I say the bad ones need to be exposed and brought to justice. Our own government has admitted to dropping the ball on this. No one should ever be to big to fail or to big to be jailed. Period.
Have you ever got a zero interest loan from a bank? Well, banks got them. If my small business fails should I get a bailout? Why did we bail out GM but not other companies? And finally........
What sector of our economy has more influence on our government than the financial sector?
I liked Liar's Poker for example. And a lot of his articles. But I am simply pointing out a lot of folks have said he took liberties about HTFs and MLB guys all said he tilted things to make his point and was actually wrong on several things with Moneyball.
But nonetheless he has legit points. To a certain extent the markets are very well rigged. But are they illegal?
Again though---my overriding point about this pertains to the title of the thread. That is the GOP is not solely to blame for any of this at all. It is just a smooth tactic the Democrats use. Because we are all envious of rich folks and want to feel they got there by rigged deal or underhanded things. We don't even like people to inherit money. We feel they didn't earn it. So the Left plays on this and these type books and news make the headlines and draw attention.
GOP is not innocent; simply not alone in it either.
I liked Liar's Poker for example. And a lot of his articles. But I am simply pointing out a lot of folks have said he took liberties about HTFs and MLB guys all said he tilted things to make his point and was actually wrong on several things with Moneyball.
But nonetheless he has legit points. To a certain extent the markets are very well rigged. But are they illegal?
Again though---my overriding point about this pertains to the title of the thread. That is the GOP is not solely to blame for any of this at all. It is just a smooth tactic the Democrats use. Because we are all envious of rich folks and want to feel they got there by rigged deal or underhanded things. We don't even like people to inherit money. We feel they didn't earn it. So the Left plays on this and these type books and news make the headlines and draw attention.
GOP is not innocent; simply not alone in it either.
For example, go to a bookstore and look at the myriad books on investing and how anyone can do it. Etc etc.
Nobody cares about those. They love the ones that show how some have done it immorally or maybe illegally though. And translate that to say it is the GOPs fault.
For example, go to a bookstore and look at the myriad books on investing and how anyone can do it. Etc etc.
Nobody cares about those. They love the ones that show how some have done it immorally or maybe illegally though. And translate that to say it is the GOPs fault.
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