Uncle Sam wants to warranty your car
04-06-2009, 08:40 PM
#61
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I was thinking the other day, the Enron disaster should have been a wake up call for the government how the financial sector was operating far to loose with the rules.. It seems everyone thought that was an isolated case of corporate operations gone amuck, and the large banks were squeaky clean in it ... hindsight....
04-06-2009, 09:10 PM
#62
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Originally Posted by Maxt' post='919990' date='Apr 6 2009, 09:40 PM
I was thinking the other day, the Enron disaster should have been a wake up call for the government how the financial sector was operating far to loose with the rules.. It seems everyone thought that was an isolated case of corporate operations gone amuck, and the large banks were squeaky clean in it ... hindsight....
That's pretty neat that you think the gov't didn't know how they operated and didn't encourage it
The reality is they not only knew about it, but they encouraged the behavior continually removing rules and laws that the banks and wallstreet had been forced to sidestep... essentially making their actions legal. The federal gov't lowered reserve requirements for FDIC insured banks, removed the uptick rule and encouraged market manipulation. like EVERY ponzi scheme eventually there aren't enough new participants to keep the jig going.
04-06-2009, 09:15 PM
#63
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Originally Posted by Maxt' post='919990' date='Apr 6 2009, 06:40 PM
I was thinking the other day, the Enron disaster should have been a wake up call for the government how the financial sector was operating far to loose with the rules.. It seems everyone thought that was an isolated case of corporate operations gone amuck, and the large banks were squeaky clean in it ... hindsight....
well i remember the financial industry was really paranoid about how everyones balance sheet was suspect, but then people give you money to invest and you have to do something with it.
good call though, you are right. govt was asleep at the wheel, so we should form a committee to look into it
04-06-2009, 09:37 PM
#64
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Look how much AIG has received, look how much they donate to political campaigns and you will see what it costs to buy impunity. BTW, Chris Dodd and Barack Obama were the top two recipients this last election and yet Christ Dodd can't remember exactly why he made sure the "bonus" clause was included in the bailout package. I'm thinking several million dollars would make me forget lots of things too.
You know the old saying "Don't hate the player, hate the game" well take a second to think about who the players were and the game "maker" or regulator was. The regulators not only looked the other way they blatently encouraged the rip off of the american people and even worse, you know what those same politicians did when the game blew up? Raped the american people again to make sure the douchebags that made the mess were covered in teflon so no **** stuck to them.
**** just a few days ago they "changed the rules" and removed companies obligation to value their assets at market value. An investor can no longer trust a balance sheet, there is no possible way to determine a companies assets and thus their worth. This JUST happened, does that discourage bad behavior? Does it discourage theft and lies about how a company operates? Quite the opposite, it only further encourages the illusion, it encourages more people to invest and lose their money when these entities can't meet their obligations. I wouldn't invest for a long term in ANY wallstreet stock at this point, it is a complete gamble and now that we've shown who wins and who loses it makes even less sense.
Has anyone been held responsible for the greatest theft in a US History? Doesn't the fact that no one has bother you? Doesn't the fact that not only have they not been held responsible, but been rewarded make you irate?
Until the american people demand that their gov't be held responsible for their actions nothing will change.
You know the old saying "Don't hate the player, hate the game" well take a second to think about who the players were and the game "maker" or regulator was. The regulators not only looked the other way they blatently encouraged the rip off of the american people and even worse, you know what those same politicians did when the game blew up? Raped the american people again to make sure the douchebags that made the mess were covered in teflon so no **** stuck to them.
**** just a few days ago they "changed the rules" and removed companies obligation to value their assets at market value. An investor can no longer trust a balance sheet, there is no possible way to determine a companies assets and thus their worth. This JUST happened, does that discourage bad behavior? Does it discourage theft and lies about how a company operates? Quite the opposite, it only further encourages the illusion, it encourages more people to invest and lose their money when these entities can't meet their obligations. I wouldn't invest for a long term in ANY wallstreet stock at this point, it is a complete gamble and now that we've shown who wins and who loses it makes even less sense.
Has anyone been held responsible for the greatest theft in a US History? Doesn't the fact that no one has bother you? Doesn't the fact that not only have they not been held responsible, but been rewarded make you irate?
Until the american people demand that their gov't be held responsible for their actions nothing will change.
04-06-2009, 09:48 PM
#65
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Location: Calgary
Posts: 564
Originally Posted by phinsup' post='919993' date='Apr 6 2009, 07:10 PM
That's pretty neat that you think the gov't didn't know how they operated and didn't encourage it 
The reality is they not only knew about it, but they encouraged the behavior continually removing rules and laws that the banks and wallstreet had been forced to sidestep... essentially making their actions legal. The federal gov't lowered reserve requirements for FDIC insured banks, removed the uptick rule and encouraged market manipulation. like EVERY ponzi scheme eventually there aren't enough new participants to keep the jig going.
The reality is they not only knew about it, but they encouraged the behavior continually removing rules and laws that the banks and wallstreet had been forced to sidestep... essentially making their actions legal. The federal gov't lowered reserve requirements for FDIC insured banks, removed the uptick rule and encouraged market manipulation. like EVERY ponzi scheme eventually there aren't enough new participants to keep the jig going.
04-06-2009, 09:51 PM
#66
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Posts: 564
Originally Posted by phinsup' post='919998' date='Apr 6 2009, 07:37 PM
Look how much AIG has received, look how much they donate to political campaigns and you will see what it costs to buy impunity. BTW, Chris Dodd and Barack Obama were the top two recipients this last election and yet Christ Dodd can't remember exactly why he made sure the "bonus" clause was included in the bailout package. I'm thinking several million dollars would make me forget lots of things too.
You know the old saying "Don't hate the player, hate the game" well take a second to think about who the players were and the game "maker" or regulator was. The regulators not only looked the other way they blatently encouraged the rip off of the american people and even worse, you know what those same politicians did when the game blew up? Raped the american people again to make sure the douchebags that made the mess were covered in teflon so no **** stuck to them.
**** just a few days ago they "changed the rules" and removed companies obligation to value their assets at market value. An investor can no longer trust a balance sheet, there is no possible way to determine a companies assets and thus their worth. This JUST happened, does that discourage bad behavior? Does it discourage theft and lies about how a company operates? Quite the opposite, it only further encourages the illusion, it encourages more people to invest and lose their money when these entities can't meet their obligations. I wouldn't invest for a long term in ANY wallstreet stock at this point, it is a complete gamble and now that we've shown who wins and who loses it makes even less sense.
Has anyone been held responsible for the greatest theft in a US History? Doesn't the fact that no one has bother you? Doesn't the fact that not only have they not been held responsible, but been rewarded make you irate?
Until the american people demand that their gov't be held responsible for their actions nothing will change.
You know the old saying "Don't hate the player, hate the game" well take a second to think about who the players were and the game "maker" or regulator was. The regulators not only looked the other way they blatently encouraged the rip off of the american people and even worse, you know what those same politicians did when the game blew up? Raped the american people again to make sure the douchebags that made the mess were covered in teflon so no **** stuck to them.
**** just a few days ago they "changed the rules" and removed companies obligation to value their assets at market value. An investor can no longer trust a balance sheet, there is no possible way to determine a companies assets and thus their worth. This JUST happened, does that discourage bad behavior? Does it discourage theft and lies about how a company operates? Quite the opposite, it only further encourages the illusion, it encourages more people to invest and lose their money when these entities can't meet their obligations. I wouldn't invest for a long term in ANY wallstreet stock at this point, it is a complete gamble and now that we've shown who wins and who loses it makes even less sense.
Has anyone been held responsible for the greatest theft in a US History? Doesn't the fact that no one has bother you? Doesn't the fact that not only have they not been held responsible, but been rewarded make you irate?
Until the american people demand that their gov't be held responsible for their actions nothing will change.
04-06-2009, 10:24 PM
#67
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Originally Posted by Maxt' post='920005' date='Apr 6 2009, 10:51 PM
True... Its funny how the rules work, if you lied to the IRS about 20 bucks they would be on your doorstep knocking... Kill one and you are murderer, Kill millions and you are leader..
Yea well rest assured all of the Obama appointees that failed to pay their taxes didn't pay any late penalty's
04-06-2009, 10:36 PM
#68
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Originally Posted by phinsup' post='920011' date='Apr 6 2009, 07:24 PM
Yea well rest assured all of the Obama appointees that failed to pay their taxes didn't pay any late penalty's
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