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You don't have to be a right winger to see that for truth.
But leaving officially sanctioned Ponzi schemes aside for now...
But leaving officially sanctioned Ponzi schemes aside for now...
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I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891 -
Why should there be a push for more regulation because of this? If sophisticated investors fail to perform due diligence and toss their money down a hole, that's their own problem. It's not like Madoff was taking advantage of the everyday working man...Comment
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There, fixed that for you.Why should there be a push for more regulation because of this? If stupid poor people fail to perform due diligence and toss their money down a hole, that's their own problem. It's not like Madoff was taking advantage of the corporations who matter to our economy...Follow me on Twitter: http://twitter.com/DaveDaDouche
Read my seldom updated blog where I talk to myself: http://davedadouche.blogspot.com/Comment
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Do you even know how hedge funds work?Comment
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DF doesn't know how anything works, Drake. Don't bother with him.12-17-10 Mohamed Bouazizi NEVER FORGET
Stadtluft Macht Frei
Killing it is the new killing it
Ultima Ratio RegumComment
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That's not fair, he knows how low-end scamming works.Tutto nel mondo è burlaComment
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"how would you call what they have in the US?"
Sultanate? Low-Grade Fascist Oligarchy? Idiocracy?
Seriously I would describe it as State Capitalism as opposed to free market capitalism. And worse, it is BAD, incompetently regulated State Capitalism."Wait a minute..this isn''t FAUX dive, it's just a DIVE!"
"...Mangy dog staggering about, looking vainly for a place to die."
"sauna stories? There are no 'sauna stories'.. I mean.. sauna is sauna. You do by the laws of sauna." -P.Comment
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All the major banks that got con-ed are foreign ones. WS seems to know that this guy was crooked to begin with.Comment
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I don't understand what you mean by "minimal regulation". You mean before ponzi schemes were illegal?Originally posted by DanS
Even when regulation was minimal, you didn't see Ponzi schemes of the degree you see nowadays in Venezuela, Romania, etc.DISCLAIMER: the author of the above written texts does not warrant or assume any legal liability or responsibility for any offence and insult; disrespect, arrogance and related forms of demeaning behaviour; discrimination based on race, gender, age, income class, body mass, living area, political voting-record, football fan-ship and musical preference; insensitivity towards material, emotional or spiritual distress; and attempted emotional or financial black-mailing, skirt-chasing or death-threats perceived by the reader of the said written texts.Comment
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