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Non-Tech : Derivatives: Darth Vader's Revenge -- Ignore unavailable to you. Want to Upgrade?

To: Henry Volquardsen who wrote (427)	10/7/1998 12:40:00 PM
From: ahhaha	Read Replies (1) \| Respond to of 2794

You have taken what auditors can do after the fact on a few specific transactions and extrapolated what could be done on every transaction. You're experience can't be extended like that. That is a non sequitir inference from the specific to the general. This kind of error is popular. Morgy_dog claims a rising unemployment because of the observation of what is happening to a few, while Greenspan claims the opposite as he stated this morning. Your emotional involvement has clouded your judgement. In your specific a problem arises. Authorities need to go back and examine records. The kind of regulation you imply requires constant monitoring of all records daily, not just examination of one part in one hundred thousand. The man hours required to do this exceeds the capability of all branches of government. Maybe it exceeds the population of the US. You say you have superior knowledge about banks. To make a claim that the BIS routinely monitors and reports makes it sound like the process is thorough. You are mistaken. They sample because it isn't possible to do what you claim. It is the failure of the sampling that enables corruption which the process was set up to detect, to go undetected. If the monitoring had only been implied without formal and evident procedure, there would be less corruption because the guilty parties would not be as confident in their rate of success as they are with a formal procedure. Process enables confidence in the stability of expected and acceptable loss. Stooges routinely take the fall when they sign on to unknowingly perpetrate illegal transactions. This is in my knowledge because shysters tried to set me up to be the lamb.