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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?


To: elmatador who wrote (73122)4/14/2011 9:30:55 AM
From: TobagoJack  Respond to of 218072
 
the legend as reported by one named tobagojack and corroborated google.com

some more intellectual but in all cases condemned criminals, in remorse, keep a diary up to the last meal, and such are published in popular legal magazines sold at train stations and airports as education material for the broader population

grim

to very grim

and would make god-fearing a popular religion

the folks who manufactured fake milk powder were tempting fate, and will lose



To: elmatador who wrote (73122)4/14/2011 12:41:39 PM
From: Maurice Winn1 Recommendation  Read Replies (4) | Respond to of 218072
 
Because they didn't do anything illegal. Being wrong isn't illegal. <why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted? > You can read the Zombie stream to see the problem.

Bernard Ebbers and many others went to prison for various swindling back in the day. The USA is highly litigious and does put people in gaol. Martha Stewart even.

Banks loaned people money under instructions of the government who wanted houses for everyone. People borrowed money to pay too much for houses. I considered the same houses in 2006 and decided they were too expensive so declined to buy. Others bought and lost their money - which was not a surprise though it was to them and the government spivs.

Even after the event, with the benefit of hindsight, borrowers still can't understand that it was their fault for borrowing. They want to blame somebody else. The lenders have also lost money, which was also not surprising as it was obvious that making 100% loans on properties worth half the price was not going to end well.

The reason the boss of Lehman Brothers and other financial losers didn't get prosecuted was because they didn't do anything illegal. Making bung investments isn't illegal. If it was, plenty here would be in gaol.

While this "blame the bankers" carries on, it suggests that people have not properly repented and there must be more harsh discipline. Sure enough, the government of the USA is fiddling around cutting a bit of spending growth here and a dab of profligate waste there but plan to increase debts and spendthrist wastrelism further, by $trillions. That does not show penitence. More harsh lessons and punishment must be inflicted. Nature is cruel and merciless as the winnowing continues.

Mqurice