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Politics : RAMTRONIAN's Cache Inn

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To: NightOwl who wrote (14156)	9/22/2008 2:04:35 AM
From: NightOwl	of 14464

I suppose I should point out, that private vs public market critique from India was written in 2002. But then there were/are many others written before and since. As best I can tell... this kind of criminal sales fraud is as old as the shell game and the pyramid scheme. I haven't checked, but I would be surprised if there wasn't something of the sort referenced in the Code of Hammurabi. The trend shows Milkin, LTCM, Barclay's "Rogue" Trader, the S&L's, Enron, and now the naked shorts - CDO combo frauds present both a global and warming depression. Demonstrative prosecutions, jail time and fines have proven to be inadequate deterrents against our peculiarly evangelical financial crimes. Goldman and MS are already running for cover: dealbook.blogs.nytimes.com And while the Paulson Plan appears to be flexible enough to add modifications to expand coverage to foreign corporations and non-mortgage based securities... it apparently can't be weighed down or slowed by oversight or reforms: nytimes.com But I guess if Goldman and MS are happy, Paulson's happy. Meanwhile... no one seems to be discussing the "new" Hedge Fund insolvencies which must surely be stacking up in the landing pattern. Oh well... perhaps this will be the next shoe the Free Market drops... on us. Fortunately I have stored ample supplies of fat for this lean winter. I wonder... does McCain think that full scale mobilization for war... "done correctly"... would solve his "liquidity" problems? Bush/Cheney thought it would get them $20/bl oil prices. 0\|0

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