Mrcauser’s Weblog

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You wouldn’t think this would be rocket science….

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How can we trust the guys who own the Empire if they can’t clean their own house. Someone has to stand up and stamp down the fires that are building throughout the country. The economic problems  we have are mostly a matter of confidence in the government looking out for the “little guy”.

The “little guy” got hosed by criminal and incompetent enforcement of monetary regulations and until we get a few “Enron” type hearings the gang in Washington is in great doo doo. Just look at the farce of  Charley Rangle . This guy belongs in court and prosecuted for tax evasion amongst other crimes.  And don’t forget Maxine Waters making sure her husband got plenty of dough through her committees.

At least the Republicans took care Delay and Cunningham but don’t expect The Dem’s to follow suit. So they get beat up at election time.

Not that it will matter much as these people are dime a dozen.

STIGLITZ: We Have To Throw Bankers In Jail Or The Economy Won’t Recover

As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail.

And Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future. See this, this and this.

Nobel prize winning economist Joseph Stiglitz just agreed. As Stiglitz told AOL Daily Finance on October 20th:

This is a really important point to understand from the point of view of our society. The legal system is supposed to be the codification of our norms and beliefs, things that we need to make our system work. If the legal system is seen as exploitative, then confidence in our whole system starts eroding. And that’s really the problem that’s going on.


Written by mrcauser

December 5, 2010 at 6:16 pm

Posted in Uncategorized

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