leftback:
The answer, my friend, is that the criminality in this case will be found to stretch back a long way, probably far back before some of the present members of the aforementioned gang joined up.

Mannwich:
criminality is so deep and basically systemic, which is likely why we haven’t seen any significant perp walks yet.

So sad, and yet, so true!

In a free market, the government would not be doling out billions of dollars to rescue faulty companies. In a free market, the companies that were mismanaged would eventually either go out of business, or be taken over by a competitor who would be able to manage it and flip a profit.

In a system with little relation to a free market, you get government props because the government decides it can best decide who should or shouldn’t go out of business.

AMEX, AIG, GM, and so forth wouldn’t be at the bailout trough in a free market because there wouldn’t be a bailout trough. They are only at the trough because the current economic structure is something akin to a socialistic plutocracy.

Everytime something goes wrong, you blame the free markets. Yet the free markets didn’t get us here – poor central monetary planning and a poor governmental structure allowed for artificially low interest rates, markets for toxic assets, and safety nets to catch the high-risk takers. Free markets, can however, get us out – we just want to do the approach that never works first.

Tell me, what exactly is free-market about these bailouts?
And unregulated? Maybe not as regulated as you want it to be – but unregulated? Please.

Since we haven’t changed the structure of our response to financial crises (they reviewed collapses in Chile, US S&L’s, Texas real estate and US junk bonds), the paper could almost be re-titled, How to Profit Handsomely by Driving Your Company into the Ground.

The outrage against “business” is that it’s awful business. Supposedly we have laws on the books, and an Administration that attempts to minimize moral hazard opportunities, but various firms and their senior management have found a riskless way of breaking social, and explicit contracts. It stinks.

And the majority are in great shape mortgage wise. It is minority, isn’t it always, that is the cause of this meltdown in making mortgage payment. A sufficiently large minority granted, but less than 25% of mortgage holders.

Guess that depends on what you mean by ‘works’. Suffice to say, I will never buy what you’re selling and probably vice versa. We could surely go on, but this isn’t really the right forum. Take care.

Certainly, $350,000 in and of itself is a small piece of the pie, but I think it is evidence of an attitude that these people getting these bailouts are basically giving the taxpayers the finger. They are saying, “We are going to take this money and continue to bathe ourselves in riches, because we can. Because we are powerful. And because you are suckers.”

And they are right. Their core attitude hasn’t changed and it won’t change until real pain is brought to bear. The real pain can come in many forms, but I think jail time is one of the best. And I don’t mean kiddie kamp jail. I mean jail, jail. I want to see executives giving reach arounds to thug life upstate.

During the summer i was wondering what would be Bush’s final FU to the country, i guess this is it.