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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 427.13-4.0%Feb 2 4:00 PM EST
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To: basserdan who wrote (48089)4/2/2009 2:27:09 PM
From: Maurice Winn1 Recommendation  Read Replies (1) of 219978
 
It does seem that getting bonuses was far more important than acting half-sensibly on behalf of shareholders. With so much loot available, it would be surprising if such a large collection of humans didn't include quite a number of outright self-dealing fraudsters rather than honest fiduciaries.

Risk is acceptable up to a reasonable level, but when the person collecting the bonus knows that the chance of failure is pretty well 100%, then it's not profiting from risk, it's profiting from fraud.

Meanwhile, the family jewels [gold reserves] are being lined up to be sold in another sign of desperation to keep the wastrel spending going a bit longer: bloomberg.com Perhaps it is time to buy gold after all. It's only $900 an ounce.

<Britain wants an agreement from the Group of 20 nations to improve the way the International Monetary Fund uses its cash, including freeing up money for lending by selling gold reserves, International Development Secretary Douglas Alexander said. >

Rather than just say, "Let's flog off some gold to get more cash to spend", they use a load of persiflage to pretend it's a sensibly scientific sort of process they'd use.

Mqurice
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