Bring back the law to hang horse thieves
The financial crisis is stabilising and things appear to be settling down. The banks and financial institutions are nursing their wounds after trillions of dollars have been thrown in to save them. But the thieves, conmen and fraudsters are still intact, still in the game, stealing from these organisations. The banks can afford to fail and go bust. But nothing will happen to these thieves and their collaborators. How so? They are so talented that whatever that they are stealing from the organisations are legal and contractual, approved by the Board of Directors who in turn are paid handsomely by them. Brilliant. Whatever that will happen to the organisations under their watches, the thieves, conmen and fraudsters will remain free, respectable, above the law, and very rich. The APEC meeting is in town and one of the first recommendation coming out is on how to save and protect banks and financial institutions from going down. The wise men and women have proposed a long list of do's and don'ts, to tighten control and procedures etc etc. Someone even suggest that banks should buy more insurance to cover their positions. They forgot that insurers can also go bust. And who is to insure the insurers. But the most important element they forgot to safeguard is the thieves, conmen and fraudsters. These thugs are allowed to continue to do what they were doing, to enrich themselves by robbing the banks and institutions in their control. The wise men and women in town seem to have forgotten that there is nothing wrong with the banks and financial institutions but the people managing them and robbing them. My simple layman recommendation is to reintroduce the law against horse thieves. Hang them and confiscate all their ill gotten wealth and return them to the organisations they brought down. That is the only insurance against these thieves. They must be held accountable and be made to face the ultimate punishment. Nothing else will work. The thieves, conmen and fraudsters are working within and inside the system. Where is the resolve to clean up the system? Or are the thieves, conmen and fraudsters still at work and having a say in all these recommendations, to cover everything except them?