1st, do you still have that fine length of rope, sir? I have a modest proposal…

That will end soon.

I invesigate fraud in private industry, occasionally reviewing my clients’ government contracts. These are the worst. Purchase (bribing) of the government oversight is ubiquitous.

White collar crime is rarely prosecuted, although I have taken about 20 cases to criminal, and perhaps a dozen to civil, court. When clients decline to prosecute, they generally cite any or all of three reasons: Firstly, that it would hurt the firm’s reputation (I din’t buy into this). Secondly, that there is little chance of significant recovery, but an excellent chance of sending the offender(s) to work for the competition. And thirdly, that the money actually belonged to a third party, and my client would prefer not to simultaneously compensate them and lose the account (morally questionable).

Excellent job security, but very disheartening.

http://www.youtube.com/watch?v=koAFEWuujFo

That article (which appeared to be real reporting, not the usual propagand) stated that “international rules” were established in the late 90′s that allowed banks to effectively set their own risk ratings. This was accomplished by using AIG’s AAA rating as firewall proof of a second banks credit-worthiness. Well, AIG was at the time taking on enoromous risk, in violation of it’s own AAA rating and public trust.

The key point relating to Steve’s current article is that AIG’s London branch was responsible for the device/trick/process that made this possible, which acted as a coiled spring for the entire financial system. And it was done with REGULATOR APPROVAL.

So much for the value of government regulation.

The only thing regulators are good for is slamming the barn door shut after the cows are gone.

It’s another radical liberal canard to destroy free markets and implement a 2-class society……the government rulers, and the rest of us.

http://sweetness-light.com/arc.....ent-137365

For some reason, i was able to read the Slimes article yesterday without a password. Today it is blocked, perhaps because it is in the archives

By the way .. just how long was it that Madoff seemed to fly under the radar of the host of gov’t. agencies and regulators/watchdogs??? Just a brief 50 years or so, was it???

Disgusting! All of it!