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Strategies & Market Trends : Waiting for the big Kahuna

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To: fred woodall who wrote (92403)	1/26/2010 3:51:35 PM
From: ProDeath	of 94695

I certainly don't find agreement with everything Karl Denninger writes, but he often sees these things with crystal clarity. It really does smell like another taxpayer shakedown a la TARP may be on the way. I'm trying to recall a time when a financial firm and its principals actually paid any sort of penalty beyond asset seizure for treasonous actions. All governments enjoy seizing money, that it came from a source labeled less than righteous is just another premise among many that allow them to do so. I personally know of recent instances involving federal and state law enforcement agencies that sound like stuff from a Costa Gavras film. Don't ask, just trust me that they were only there for the shakedown, not the bust, and that elaborating further could put people in positions that they would rather not be in. One example that has made many people wonder is the seizure of the Union Banking Corporation under the Trading With the Enemy Act in 1942. You might think that given the sentiment that the fate of civilization lay in the balance we might have gotten the administration of the "Death of a Thousand Cuts" in Times Square. But no, it was just "Give us all your money and sin no more", that is to say "Gotcha! Now don't get caught next time". This case is currently problematic to research due to the continuing efforts of revisionist historians from all sides to doctor the story to fit their modern agendas. So, can anyone come up with a better example involving any kind of actual punishment of individuals? I don't believe it ever happens, a precedent could be most enlightening. ***. As an aside, I first became acquainted with Denninger as a rebreather diving enthusiast, I had to check twice to make sure his financial blog was really by the same guy I knew otherwise. An interesting fellow.

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