It is a sad testimonial of our times, this banking scandal at Barclay's bank. One wonders how deep it goes? I hope we find out and the bastards that are lying and cheating and stealing don't just get fined but go to jail. But like Charles Barkley has said "we don't put rich white people in jail." Perhaps. But Bernie Madoff is probably lonely about now and the convicted should have some quality time with him.
Whatever, the result will be that all the whining and crying by bankers about regulation and this and that, whether legitimate or not, is now going to be ignored. You lie to me and we have nothing left to talk about. This will now set financial markets back for the next 20 years. And that is too bad. But apparently richly deserved.
The big thing about the American economy and the way we allocate resources is the belief in upward social and economic mobility. If I work hard and strive for excellence I will be rewarded because the game is not stacked against me. The fix is not in. Well thanks a whole bunch scum bags, you just showed that ain't necessarily so.
When the thumb screw gets twisted tighter now in the not too distant future, man up and take the pain. No one wants to listen to the bile coming from your stink'in pie hole any more.
Can you tell I ain't so happy?
http://economix.blogs.nytimes.com/2012/07/05/lie-more-as-a-business-model/?hp
2 comments:
Wait a minute: I can't tell if you're advocating more or less regulation.
If we have criminal activity then they should have their asses handed to them.
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