1.4 Billion

by Jayson 3 Replies latest jw friends

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  Jayson

  That's the number for wallstreet's settlement for fleecing so many out of so much. Has it ever been that so few have screwed so many? I know a few characters might see the inside of a country club correction facility (for a little while) but it makes me . What is justice for distorying everything that someone works a lifetime for? Greed is soooo evil! White collar crime is not as "bad" as violent crime IMO. But it is not nessesarly less "evil." I think in some ways it is much more wicked. 1.4 billion is not enough punishment. Not nearly enough to put it behind the public. I hope that those who invest in the markets learn a very valuable lession from this. "Trust no one."

  (BTW I did make money in the down market and did not loose anything so this is not a rant about my losses. It is a rant about injustice.)
• 

  SixofNine

  But honestly now, the little guys who lose, if they lose big, usually lose because of greed as well. There is a reason people don't use stop loss orders, but there is not a good reason people don't use stop loss orders. A different, more common type of greed I suppose, but considering the little guy really can't afford to lose his money, I find myself with little sympathy for the little guy who was too lazy to know what he was buying and too greedy to quit while he was ahead.

  Btw, we may be talking about completely separate issues, what was the 1.4 bil settlement about?
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  Jayson

  No I agree with you sixofnine. Greed is greed. The 1.4 billon dollar settlement was for the outright lying and misreporting even giving false information about companies by banking firms, Citigroup JPMorgan and others. I'll put up a link later. And you are right investing takes more than the pull of a "one armed bandit." These guys committed fraud though. And 1.4 billion dollars in fines is nothing to them. I hope that the public remembers that.
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  Shutterbug

  The 1.4 billion was just another business expense to these guys. The so called "perp walks" with corporate big wigs hand cuffed and being hauled off to jail in their expensive suites probably does more to deter these guys than any fines.

  My 2 cents worth. Bug