The Entire NSS Mess Explained In One Hour - A Primer
Bob O'Brien's Sanity Check Blog
Posted by: bobo 2/17/2009 8:55 AM
Every now and then someone creates something of such collective value, that it is in all our best interests to distribute it far and wide, to every chat room and message board we can think of.
Patrick's seminal "Dark Side of the Looking Glass" presentation was one of these creations.
Now, Judd Bagley's new presentation ( tinyurl.com ), given at U of Texas, is another.
Take the time out to watch it, and then post it everywhere you can think of. The reason that the bad guys get away with as much as they do is because they have co-opted the regulators and the media, and converted channels that are supposed to broadcast the truth into propaganda machines for their special interests. AntiSocialMedia serves a valuable function, as it is a well researched, articulate avenue for interested folks to get an accurate picture of what's going on in the financial markets.
Check out the presentation, and then circulate it to every politician, journalist, and chat room/message board you can, as it contains info that all would like to pretend they've never heard before. Now they can't claim that.
And in breaking news, yet another multi-billion dollar ponzi scheme has been "discovered" by the SEC, but of course only after the same guy who tipped them to Madoff (Markopolos) and was ignored for almost a decade, tipped them to this one. Where would the SEC be if others weren't doing their work for them? I mean, other than working for million dollar salaries once they leave the commission?
Is it just me, or has it become painfully obvious that the SEC is about as useful in uncovering criminal activity or fraud as a Ouija board? Only after someone has done all the work, and basically broken the news in a congressional hearing, do they get off their dead asses and do anything at all. Yikes. Want to bet the only reason they didn't flush this investigation as well was because they are now standing in the spotlight, and were forced to do something?
I wish I could say I was delighted to see all the scumbags starting to get taken down, however it still seems to me that the entire system is badly broken, and the media almost entirely co-opted. Witness that the article linked above conveniently fails to mention that the only reason the SEC even knows about this latest scam is because a civilian rubbed their nose in it. Completely omits that data point. That would be the same media that touts Barry Minkow as an anti-fraud advocate, and 'lilGW as an honest reporter. With press like this, who needs enemies....?
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