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11/11/2009

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?

8 comments:

Matilah_Singapura said...

If you bring back horse thief hanging laws, then the first people to execute are those govt criminals at IRAS.

At least with financial institutions you have a choice: don;t deal with them. I didn't lose one_penny in the financial crisis, so why should I care?

However with tax, you cannot dissociate yourself unless you relocate from the territory... which is futile because you simply move to another territory where another govt will tax you.

I agree, let's lynch those thieves and armed robbers from the tax department ;)

Anonymous said...

In this day and age, the horse thieves and the hangmen are one and the same. They could not possibly hang themselves now, could they?

redbean said...

so far they have caught one in the name of Madoff. And they are confiscating 'some' of his ill gotten gains for sale.

and several have been acquitted. the whole financial meltdown across the world is only caused by one Madoff. the rest were so innocent.

Anonymous said...

The Madoff was just too big to cover up. But what as you rightly pointed out, what of the others?

redbean said...

even bill gates is saying politely that wall st is overpaying their executives. he didn't call them thieves. when one steals big them, nobody dares to offend them, not even bill gates.

the only one that is trying is obama. but he must be careful of white men running amok.

Anonymous said...

Hey! Why hang the conmen, fraudsters and swindlers when they got their operations legalized(approvals by the authorities/legal contracts as You mentioned) before carrying out their businesses.

The people that needs to be accountable and some deserve to be hanged are those that approved the operations. BUT, IS THERE ANYONE TO REIN IN THESE PEOPLE IN POWER AND AUTHORITY AND BE ABLE TO MAKE THEM ANSWERABLE? And what if they(the authorities) are in cahoot with the businesses?

patriot

Matilah_Singapura said...

To patriot:

A quick comment to your rhetorical question:

There is no way to reign in power of those who have absolute power of the state because they control -- "legally" -- the apparatus which defines the state and the state's power.

I don't know how many ways to put this -- and I've repeated it often enough: The government can (and frequently will) do anything it chooses and there is no way short of violent revolution (which I explicitly discourage and condemn) to stop them.

Think about it: How do you fight against Absolute Power -- which is "legal"? You cannot. The only way is to use power and force greater than the absolute power in question, and any such action is immediately deemed "illegal".

The best way to avoid the bad effects of govt interference is to change yourself and how you act in a world which is "unfree". In my case, I stay under the radar and don't "show my hand" in public. But there are many other ways. I've posted a link to Harry Browne's books -- now in PDF and available free on the net. If you are at all interested in your own liberty, perhaps consider reading Harry's works.

The nature of govt will never change. As soon as you agree that a large organisation can dictate to you whatever aspect of life it wants, and you have no recourse to complain, disagree or act against its wishes... as long as you agree to this, as far as your own liberty and freedom is concerned... it's OVER.

Anonymous said...

Hi Matilah Singapura:

thank You Sir! Points takened.

Yes, the people deserve the government they elected.

To bring down or destroy the power, a greater power is needed, absolutely logical.

And

Maybe, just maybe, Nature will help to undo the Power.

patriot