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5/02/2010

Hanging modern day thieves

The New York SEC is throwing charges at Goldman Sachs for financial frauds and selling fraudulent CDOs out to cheat the innocent investors. So far there appeared to be strong prima facie evidences to bring Goldman Sachs to the courts, but whether anyone will be put behind bars is another matter. The final outcome could be a hefty fine on Goldman Sachs as an organisation and not a single thief found guilty. And they could continue with their game of deceit and theft. What the public have failed to see or not led to see is the role of the SEC. Is SEC culpable, an accomplice to all these big thieves, abetting and helping them in their fraudulent ways? The SEC is a regulator to provide a set of rules and regulations, and a sound system, a level playing field, that is fair to all players in the finance industry, including the stock market. What if the SEC connived, innocently or uninnocently, undestood or misunderstood the dangers of a system that they approved for the investors, should they also be hanged? The Senate and Congress must investigate the role of the SEC as well, the financial systems, rules and regulations and practices to see if the SEC is also at fault. Looking at the unfair practices, a far from level playing field, and the unfair advantages of the big funds against the small investors, the SEC is as guilty as Goldman Sachs and must be answerable to their misdeeds, if proven. All thieves, whether they be big financial organisations or regulators, are thieves if proven so and must be hanged.

6 comments:

Anonymous said...

The same sentence should go to heads of governments and stat boards that scheme ways to forcibly milk hundreds of billions from its citizens then gamble them all away on foreign banks, telcos, hard disk manufacturers etc.... and just like the Goldman Sachs scums, keep inventing reasons to defend themselves.

Anonymous said...

Will the cowboys/girls obey the sheriff?

Can Obama changes the cowboy culture and ensure the United States of America will be well governed and its' people well behaved?? As in law abiding, no cheating, no bullying, no stealth strategy; in short, honest and clean.

patriot

Anonymous said...

When big political donations comes from the thieves, obviously change is not possible. Neither will they persecute the thieves.

When the rich is known to get away with murder, what is there to prevent billionaire thieves from escaping punishment for fraud?

A little wayang, like raising a fine of tens of millions will soon solve the problem. The show just go on.

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Anonymous said...

It would be ironical for a black man to start hanging white men that are crooks. White men used to hang black men that were no crooks but just plain poor.