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Certainly, this is a form of fraud even b/f we created the securities laws.
Not any sort of actionable fraud until securities laws came into effect.
But if Joe Kennedy did it, shouldn't we ask his son to donate his wealth to charity to make amends?
Sins of the father fall on the son?
“I give you a new commandment, that you love one another. Just as I have loved you, you also should love one another. By this everyone will know that you are my disciples, if you have love for one another.”
- John 13:34-35 (NRSV)
I'm sorry! It is obvious that you have never met the man! Gore listens only to money and has ZERO integrity. He is a very buyable opinion.
How, exactly, is he any different than any other American politician then? Your entire system is riddled with money and corruption.
Exult in your existence, because that very process has blundered unwittingly on its own negation. Only a small, local negation, to be sure: only one species, and only a minority of that species; but there lies hope. [...] Stand tall, Bipedal Ape. The shark may outswim you, the cheetah outrun you, the swift outfly you, the capuchin outclimb you, the elephant outpower you, the redwood outlast you. But you have the biggest gifts of all: the gift of understanding the ruthlessly cruel process that gave us all existence [and the] gift of revulsion against its implications.
-Richard Dawkins
Life is not measured by the number of breaths you take, but by the moments that take your breath away.
"Hating America is something best left to Mobius. He is an expert Yank hater.
He also hates Texans and Australians, he does diversify." ~ Braindead
Originally posted by Ned
Certainly, this is a form of fraud even b/f we created the securities laws.
But if Joe Kennedy did it, shouldn't we ask his son to donate his wealth to charity to make amends?
Fraud?? Who said anything false??
IIRC, it was legal when Joe Kennedy was doing it. However, as part of the regulations promulgated by the SEC once Kennedy became its head, stock kiting was made illegal.
There was great dismay when Kennedy was appointed. "It's putting the fox in charge of the hen house!" was the cry....and indeed it was. However, one benefit of putting a fox in charge is that the fox knows all the foxy tricks and who's engaging in them. He was really able to clean the market up.
IIRC, it was legal when Joe Kennedy was doing it. However, as part of the regulations promulgated by the SEC once Kennedy became its head, stock kiting was made illegal.
There was great dismay when Kennedy was appointed. "It's putting the fox in charge of the hen house!" was the cry....and indeed it was. However, one benefit of putting a fox in charge is that the fox knows all the foxy tricks and who's engaging in them. He was really able to clean the market up.
Imagine someone painting over all the known defects in a house and then selling it to you knowing that the price was way above the price the house should be were you to know of the defects.
Well, that's what Joe Kennedy, Ted's dad, did to the people. Ted needs to disgorge those profits before he can speak to us as if he really cares about the people.
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