No Reform and no one goes to jail?

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investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
No Reform and no one goes to jail?

As I listen to this my blood boils! Reform is a joke after the meltdown and no one goes to jail after all the criminal actions of bankers and wall street.Tax payers get ripped off over and over again. The black hole of theft, fraud, and the political hacks who line their pockets. We either default or go into hyper-inflation. Wall street and the bankers do business as usual. As lobbyists continue to move closer to D.C. to get what they want. Wait till people realize there is no recovery.

From  a soft depression to a hard depression:

http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/1/16_B...

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
Re: No Reform and no one goes to jail?
investorzzo wrote:

 As lobbyists continue to move closer to D.C. to get what they want. Wait till people realize there is no recovery.

Do you think that this realization will happen at the moment we have an economic Katrina/Haiti on our hands?

investorzzo's picture
investorzzo
Status: Diamond Member (Offline)
Joined: Nov 7 2008
Posts: 1182
Re: No Reform and no one goes to jail?

Davos, I really think it's like the frog in the water senerio, the one where they slowly turn up the heat as the frong continues to sit. The ones like you and I know whats coming, it's the rest who will wait till it's to late to react. Most of the people I work with, just don't want to know. I realize it's not an easy subject to understand. I have struggled to learn how economics work. Layers of schemes remind me of Enron, Madoff. Check this one out. Jon

From Businessweek:

 The U.S. Treasury and Labor Departments will ask for public comment as soon as next week on ways to promote the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams, according to Assistant Labor Secretary Phyllis C. Borzi and Deputy Assistant Treasury Secretary Mark Iwry, who are spearheading the effort.

Let me tell you what this is - it is an attempt to prevent the collapse of the Treasury market!

Forcing people into Treasuries as an "annuity" is exactly what Social Security allegedly is.  Except that Treasury stole the money that was collected in FICA taxes and spent it!

Guess what?  They'll do that here too - you're going to "invest" in Treasuries which of course are effectively a CALL option on the future taxing ability of the government.

http://www.financialsense.com/fsu/editorials/deepcaster/2010/0115.html

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
Re: No Reform and no one goes to jail?

Totally agree.

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