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[Edvaard]

Like this, you mean?

           http://www.dailyfinance.com/story/investing/joseph-stiglitz- corporate-crooks-to-jail/19684353/




Comes the latest development furthering the plight of the "financial innovators";

Forget angry bondholders and Frankenmortgage holders and the 50 state AGs, - now somebody's sicced the sheriff on'em:

          http://www.cookcountysheriff.org/press_page/press_DartSuspen dForclosures_10_19_2010.html  

[Eric H.]

jonathan jetter wrote on Fri, 22 October 2010 05:49

it has nothing to do with a free capitalist market and everything to do with the super-rich having built an entrenched system where they fleece the rest of the populace .

+1

This is the bottom line, and something that everybody from low to medium class will have to realize, accept, and fight against.

check out european news. It's not just Otis saying 'a change is gonna come'

[MDM,]

hahaha

the banks sold-off the bad mortgages through financial card-shuffling and sometimes they aren't even the legal owners of the homes they want to take back.

[YZ]

from DailyFinance: http://srph.it/aRwI4I
(courtesy of Edvaard)

Quote:

"When you say the Pledge of Allegiance, you say, with 'justice for all," Stiglitz said. "People aren't sure that we have justice for all. Somebody is caught for a minor drug offense, they are sent to prison for a very long time. And yet, these so-called white-collar crimes, which are not victimless; almost none of these guys, almost none of them, go to prison." "Families are as important as corporations," he said. "Keeping kids in school, not forcing them out of their home, keeping the community together, is certainly as important as keeping a corporation alive."

In a civilized, democratic society, Government exists to protect the honest against the crooked, to protect the weak against the strong, to ensure that everyone's actions will be measured evenly under the scope of the Law.

Forget social security, education, health... they are important but if the above is not provided, the society has failed.

[jonathan jetter]

Eric H. wrote on Fri, 22 October 2010 09:56

jonathan jetter wrote on Fri, 22 October 2010 05:49 it has nothing to do with a free capitalist market and everything to do with the super-rich having built an entrenched system where they fleece the rest of the populace . +1 This is the bottom line, and something that everybody from low to medium class will have to realize, accept, and fight against. check out european news. It's not just Otis saying 'a change is gonna come'

go one step further.

someone making $150k USD/year is ultimately on the side of the low/middle class.  he's not part of the super-rich.  even someone making $500k/year....same situation.  they may have a nicer car, a bigger home, more vacations.  but it's still the same deal.  they still have to go to work.  they do not take part in a reality where they can systematically steal from the rest of the population.

i think we need to approach this from the perspective of class warfare....but not in terms of the man with $20k/year vs. the man with $100k/year.  i'm talking about 99.5% of the population vs. the very few at the very top with hundreds of millions, or billions of dollars.

[maarvold]

YZ wrote on Wed, 20 October 2010 13:56

BTW, this is ...about not letting bad behavior be rewarded.

This is sadly funny, on many levels, in a group of forums largely driven by the music business.  

That said, I view a lot of what created, and is still driving, this recession as similar to the original Terminator [robot]: all of the people below the highest levels of management are like the boots, jacket, sunglasses, skin, and even the metal skeleton that are controlled by the 'brain'--which is the equivalent of the bad behavers; and the 'brain' will throw almost everything under the bus and still not vary too much from the course of its original mission: "Must... Amass... More... Wealth"--until you squash it under a 20 ton press.  You can take away almost everything and the thing still keeps coming--as evidenced now by the rise of the Dow (from its low--below 7,000) and the banks repaying TARP money.  The rich get richer, but few who have been laid off are going back to work.  

[YZ]

maarvold wrote on Sun, 24 October 2010 18:00

YZ wrote on Wed, 20 October 2010 13:56 BTW, this is ...about not letting bad behavior be rewarded. This is sadly funny, on many levels, in a group of forums largely driven by the music business.

I agree with the unquoted part of your post; however, about the part quoted above:

I don't recall any music artist leading hordes of people to bankruptcy and/or job loss due to their behavior, neither of any taxpayer-funded rewards for the same, at least in the levels seen in this mortgage vultures affair.

I may be wrong, however, and would be thankful for any insights you may provide.

[maarvold]

YZ wrote on Sun, 24 October 2010 13:52

maarvold wrote on Sun, 24 October 2010 18:00 YZ wrote on Wed, 20 October 2010 13:56 BTW, this is ...about not letting bad behavior be rewarded. This is sadly funny, on many levels, in a group of forums largely driven by the music business. I agree with the unquoted part of your post; however, about the part quoted above: I don't recall any music artist leading hordes of people to bankruptcy and/or job loss due to their behavior, neither of any taxpayer-funded rewards for the same, at least in the levels seen in this mortgage vultures affair. I may be wrong, however, and would be thankful for any insights you may provide.

Your definition of bad behavior and people who have been well-rewarded, relative to my quote, is too narrow: think sending a rattlesnake to a business colleague in a box, labels ripping of artists, bandmembers screwing bandmates girlfriends, a famous lead singer pissing on the audience, wrecking your car because you were driving loaded, studio clients running up huge bills and not paying the studio, people taking credit for the work of others, etc, etc.  Many stories of this type are legendary.