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8/24/2010

Corruption of Power

I heard in the news that Deutsche Bank has been allowed to conduct Dark Pool operations in the Hongkong Stock Exchange. This is as good as allowing big time drug dealers to conduct drug business with approval from an authority that is tasked to apprehend drug traffickers. The Exchange has a responsibility to ensure that all trading activities are transparent so that all parties big and small are privy to such activities. Now it is allowing the big boys to conduct activities that small traders are not supposed to know. Why don't they take a share as part of the drug syndicate? They too can make money selling drugs. Does it mean that the authority is above the law and can violate the law to its advantage? If this is not corruption of power, then what is? The only place when the authority can commit murder and get away with it is paradise. God is the biggest murderer, killing at his fancy, wanton killing of all living things during the big flood. And he is believed to be the most forgiving and kind. No one wants to tell him that he is a murderer, or no one dares to. So God walks around with a halo on his head like he is so pure and innocent, above the law. Oh, he is the law. Corruption of power is corruption of power. It cannot be otherwise.

2 comments:

Matilah_Singapura said...

Power always corrupts.

Absolute power however, is kinda cool :-)

Dark pools are inevitable. They are an out-growth of too much govt intervention in the lifes of people and their business, plus govts themselves investing in the market thru their big govt-corporations, and ineffective corrupt "legislation" and "regulation" set by govts.

Chua Chin Leng aka redbean said...

Is it a case of too much power or too little power? Is the HK system a victim of too much deregulation so that the thugs and criminals can do what they want?

Or is it a case that the HK govt has the power to stop it but went with it because they too are profiting from it, party to the looting? So playing with the dark side is legitimate as long as it is profitable?

This is corruption at the level of the govt.