Who is more guilty?

Wall Street and the American corporate world are in a big mess. And the whole world is suffering the pain. Who is guilty or more guilty? At the moment only a handful of big wigs are caught with their pants down. No, they were not caught. They surrendered to the authority, confessed their own crimes. The authority was sleeping! Or were they sleeping with the thieves? The wonder of it all, the real criminals are all enjoying their ill gotten wealth without any sense of guilt and not guilty of any crimes. The real criminals are the regulators and administrators. They created and managed a flawed system! And the rest took a ride on the flawed system and benefitted from it. No crimes, just mismanagement. The thieves are stealing from an open till. So who is to be blamed? The regulators and administrators are pointing the fingers everywhere except themselves. Who is to regulate the regulators? Who is to guard the guards? When the administrators and regulators are cock enough to let flawed systems to operate and the thieves to take from the till legally, or without breaking the law or the rules, where is the crime? It is time to hang the regulators and administrators. They cannot find excuse that they are not paid as well as the thieves.


Anonymous said...

The bigwigs or politician nominated their preferred regulators and get them appointed. If there is one "troublesome" regulators, bigwigs & polititican will fix him/her and get regulator out. Bigwigs are patrons to these politician - so some back scratchings and royalty. A win-win situation. So both bigwigs and regulator are guilty for these fiasco. What about the politician who pass big bills for both regulators and bankers to have fun with? Shouldn't the first person to hang is the politician?

redbean said...

ya, need to hang george bush and his politicians.

Anonymous said...

But Obama does not think that Bush needs to be hanged but instead be forgiven. So, like paradise, politicians are never hanged for mistakes. I think this also applies to those countries around us. Politicans need to cover their own arses too in case they loose power, so each incoming decider always tend to forgive the outgoing decider. The most that they always do is stage fake prosecution, like Marcos and Suharto and their family members.

redbean said...

cannot compare their politicians with ours. ours are at least 5 times more talented than them.

Anonymous said...

Since La Bama is going to close Guantanamo, suggest that the facilities be used to house all these crooks. Use torture to break them and get a confession that it was their sheenigans that got us into this shit in the first place.

Who will trust Wall Street again?

It should be renamed Street of Crooks.

Dr. Cordon Tan.
Professor of French Cuisine

Matilah_Singapura said...

The government is the largest and the mst powerful organised criminal gang in the land.

In fact, they can do anything they choose. All it takes is one 'emergency' sitting of parliament and all your rights and freedoms can be voided by a stroke of the pen.

The rest of the 'qan xi' out in 'Private' Enterprise Land are just small-time 'subsidiaries' of the govt. They have symbiotic relationships with the state — so that they, the so-called 'private' firms do whatever it takes to maximise their 'returns'.

The guilt is understndable, but it is irrelevant. What is broken is the systems in place. They should go, disappear forever, but no, they stay and are constantly fiddled and tinkered with... all to the benefit of the govt and its crony capitalists aka 'mercantilism' in the old-language.

Socialism has many flavours and different 'sects' or schools of thought.

If President Hussein actually succeeds in doing what he says he's going to do, then the US will become a FABIAN socialist state.

Of course, Fabian Socialism is a very popular form of socialism — e.g. Gordon Brown and Tony Blair, and to some extend the current Australian political-economy.

Once on the course of Fabian socialism, it is difficult to shake loose, especially once a welfare state is established (70+ years in the US, over 100 years in UK and Australia).

Fortunately for Singapore (in the economic sense), Harry Lee (and Goh Keng Swee) shook off most of the Fabian ideas in the 70's and 80's.

The current 'flavour' of socialism being used as a guide to running the political-economy is mild fascism.

Anonymous said...

"What is broken is the systems in place. They should go, disappear forever, but no, they stay and are constantly fiddled and tinkered with..."

And further extended - to be imposed on a global scale. That seems to be the popular view right now (c.f. Davos).

Once there's global co-op on this... guess it's game over?

redbean said...

read my post on singapore's answer to the global financial ills.

it is simply a stroke of genius.

Matilah_Singapura said...

anon 103

> Once there's global co-op on this... guess it's game over? <

I doubt there'll be any 'global cooperation' in the positive sense. What is likely to happpen is more regulation, de facto trade barriers, more govt surveillance, more inflate-tax-borrow-spend-control.

Who's going to be stuck with the huge bill? All the private citizens, and right through into the future with their children and grandchildren who will end up essentially working to pay-off the govts' excesses -- that is if we don't go to war.

Anonymous said...

"We pay our politicians and our government servants very well," Tony Tan said. "We lock remuneration to the market."

To the market. Riiiiiiight...

Talk about being poncy.

There's nothing 'market' about this, except for clever political marketing.