What lessons have we learned from high-profile crooks like Bernard Madoff and Allen Stanford ? Are they any different from the gangsters and organised crime bosses that makes their money in similarly illicit fashion. Are they worse than the rats,flies,maggots, cockroaches and all the vermin that humans find awfully disgusting.They can cheat you for yonks without you knowing it.They live the high life at the expense of those they cheated.
This is the where they talk so much about high moral, transparency and accountability but are now caught with their pants down. The West, themselves, rotten to the core.These are the crooks and scoundrels of the financial world, the money mincing machines that not only bankrupted their own companies but other innocent individuals and countries.
Below are some articles that decried the unpleasant and unconscionable action of those people whom we placed our trust in.
Are executives villains or morons?
In the past few months, we've been riveted and disgusted by the exploits of scamsters like Bernard Madoff and Allen Stanford (characters who, if they didn't exist, would have to be invented by Tom Wolfe). It's both easy and convenient to hold them up as the ultimate symbols of the just-ended boom. But we shouldn't. While there was some crime in the mortgage industry, law-abiding, respectable, upstanding citizens caused the overwhelming majority of financial losses suffered thus far. Skeezy money managers and mobbed-up boiler rooms didn't create the economic catastrophe. Read more....
PHOTOS:
Who Is To Blame?
There are plenty of people who contributed to the sad state of our economy. But when it comes to bad decision making, these seven folks arguably deserve the bulk of the blame. (Want to add to this hall of shame? Follow the e-mail link at the end of this gallery.)
Is Wall Street Evil?
Americans have always hated the moneymakers, rather than hate themselves.
2 comments:
From as far back as the 18th century when the South Sea Bubble burst, most of the mega international financial scandals have been spawned in and by the West.
To the crooked thinking ways of Alan Greenscam, we have to add Bernanke, Morgan Stanley, Merril Lynch, Goldman Sachs, Lehmann Bros, Drexel Burnham, KKR, Citibank, wachovia, the US auto czars, Paulson and Bush.
In particular, we had Goldman Sachs 'predicting' oil at US$105 2 years ago and then they kept shorting it. The rest also are responsible for the era of junk bonds, sub-prime toxic mortgages and the largest paper shuffling ponzi scheme in the NYDJ when they created no real wealth, but only a massive poisonous bubble.
The sad part is, Asia and the rest bought into this easy money Ponzi schemes because they were in awe of the White Bwana!
Now they know better! The White Gurus know little more than our own bunco artistes.
We should re-structure our own Bourses to outlaw short selling, day and contra trading, share margin financing and over-extending credit. Moves should be made to internationally ban currency and futures speculative trading other than real forward trading and hedging required by genuine buyers, producers and sellers. Not these vermin holed up in shoe boxes and playing the market.
The real lesson has been known to mankind for thousands of years.
There is no short cut to success but through hard work and savings. The gambling mentality must be legislated to be kept to the absolute minimum!!
http://donplaypuks.blogspot.com
DOW's fell 299.64 to 6,763, a level not seen since 1996, deepest depth of despair have yet to come. The President of the United States of America will soon run out off hot air then the American will be left with only one thing from Obama, sadly the word " CHANGE "
Despite that some people here still buy his rhetoric.
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