CBS Evening News in announcing what they will be featuring for this week includes report(reports?) on the matter of WS Analysts lying to sell stocks, how deep is it and what will be done about it?
But, i am thinking it is already too deep,the cancer within the system is Stage IV.
No matter what people say about 1929 and it's aftermath, the real cause, was rampant corruption on WS and a break down in business ethics.
And please no one give the wrong argument of 'that has always been the case', as it is to what degree has 'this been always the case' that is the key.
Come the late 20s and late 90s we had reached a degree in corruption that breaks the thermometer.
Another argument that is hollow is 'well we are not as corrupt' as in many other places in the world: the problem here is, as we are vast and massive such that our boil over in corruption will have far more impact, we are a powerhouse,a powerhouse house of cards.
The global economy is waiting for us to bail them out, good luck, is all i can say.max p.s. Now let's here from Lawrence Kudlow :) who sees us as the unsinkable Molly Brown, the perpetual motion machine of endless growth and abundant money, the Holy Grail of the Economic Dreamers, the Utopian Event, an economy that flowers endlessly.
IMO it is too bad Lawrence can't grasp what corruption can do to undermine and ruin.
BTW, my corruption spiel started in the fall of 1999, and frankly the corruption is worse than i even thought then. |
