Poster Boy for Wall Street greed must pay.

[chasinthesun]

A once High Flying Goldman Sachs trader dubbed "Fabulous Fab" was ordered to pay more than $825000. stemmed from the mortgage meltdown.This was only part of Fabrice Tourres $1.5 million bonus he recieved right before the collapes .His deceit paved the way for a valued Goldman Sachs hedge fund client,Paulson & co.,to cash in by betting against the investment ,the SEC said.While the investors lost close to $1 billion ,Paulson & co. made $ billion ,and Goldman garnered millions of dollars in fees.
What makes this a fair market? Sounds like insider trading on the worst scale.If the Paulson camp is not touchable they should at lest send a canned ham to all the investors on holidays.

[Dudesky]

If I remember correctly, Goldman Sachs and Paulson faired quite well under the present admin....in fact most working there came from GS.

[Idle]

This is a case involving money which has no morals. Only legal and illegal.

There are people working hard to find holes in the system. Sometimes they do.

Finding the holes would be a lot easier if there were less regulations on banking. Remember this the next time you think bankers are over regulated.

[aklim]

Originally Posted by Idle

This is a case involving money which has no morals. Only legal and illegal.

There are people working hard to find holes in the system. Sometimes they do.

Finding the holes would be a lot easier if there were less regulations on banking. Remember this the next time you think bankers are over regulated.

If you want to use morality, can I use my standard?

Holes, loopholes, back door entrances, whatever. They are smart and deserve to win. We cheer when a poor guy finds a way to beat the system. When it is a big dog, the rules are different. Makes no difference to me. May the smarter man win even if I lose.

That is one way to look at it. The side effect is that it makes things much more difficult to work with so it isn't all good. Maybe a smarter consumer is a better way.

[INSIDIOUS]

Originally Posted by aklim

If you want to use morality, can I use my standard?

Holes, loopholes, back door entrances, whatever. They are smart and deserve to win. We cheer when a poor guy finds a way to beat the system. When it is a big dog, the rules are different. Makes no difference to me. May the smarter man win even if I lose.

That is one way to look at it. The side effect is that it makes things much more difficult to work with so it isn't all good. Maybe a smarter consumer is a better way.

Again you confuse us. How did what you quoted lead you to 'understand' that he was wanting to use morality?

[Idle]

Originally Posted by aklim

If you want to use morality, can I use my standard?

Holes, loopholes, back door entrances, whatever. They are smart and deserve to win. We cheer when a poor guy finds a way to beat the system. When it is a big dog, the rules are different. Makes no difference to me. May the smarter man win even if I lose.

That is one way to look at it. The side effect is that it makes things much more difficult to work with so it isn't all good. Maybe a smarter consumer is a better way.

Actually I started my comment with money has no morals.

If you want to be run over and left flat broke then just remove all the banking regulations from the books. If you like the 1890's you will love the era of no regulation. Or if you liked the mid 80's, when all the regulations were removed from the Savings and Loans and the US Government was left with almost a Trillion dollars in failed banks and S&L's..... One of Reagan's lesser economic accomplishments that Conservatives wish everyone would forget.

The good old days.

[Idle]

Originally Posted by aklim

If you want to use morality, can I use my standard?

Holes, loopholes, back door entrances, whatever. They are smart and deserve to win. We cheer when a poor guy finds a way to beat the system. When it is a big dog, the rules are different. Makes no difference to me. May the smarter man win even if I lose.

That is one way to look at it. The side effect is that it makes things much more difficult to work with so it isn't all good. Maybe a smarter consumer is a better way.

I am working with a bit of an edge-up here in that I knew a number of those associated with the ENRON meltdown. There were regulations in place and they found a way to game the system. Where they messed up was in pushing the limits until they fell over the edge and committed crimes, crimes that are defined by regulations.

Their defense in court was that they were just doing business as usual and that they were smarter than everyone else. The reason they were found guilty was that they were clearly making up the rules as they went along and the only thing they understood about the regulations was how to beat them. The problem? They figured wrong. They did not beat the regulations, they ignored them.

A New York finance guy once told me that he would have meetings with ENRON's top brass and then leave the room laughing about how hopelessly mired they were in their own world. Then the New Yorkers would start trying to figure out how to fleece the ENRON guys and then get away clean. The New Yorkers did it and did it by staying with-in the banking regulations; the ENRON guys took the fall since the New Yorkers turned them inside out but made them think they were the smartest guys in the room.

It turns out they were not.

[chasinthesun]

Washing Machine Govt ,everyone comes out clean ,you just have to pay for the cleaning.

[strelnik]

Originally Posted by aklim

If you want to use morality, can I use my standard?

Holes, loopholes, back door entrances, whatever. They are smart and deserve to win. We cheer when a poor guy finds a way to beat the system. When it is a big dog, the rules are different. Makes no difference to me. May the smarter man win even if I lose.

No.

Let's say I find a way to capture all the oxygen in the air and sell it to people.

You pay my price or get your oxygen somewhere else.

Since I don't like you, Aklim, you get no oxygen.

Enjoy the last three minutes of your life.

Signed,
The Smarter man

[aklim]

Originally Posted by strelnik

No.

Let's say I find a way to capture all the oxygen in the air and sell it to people.

You pay my price or get your oxygen somewhere else.

Since I don't like you, Aklim, you get no oxygen.

Enjoy the last three minutes of your life.

Signed,
The Smarter man

I guess then it sucks to be me.

[chasinthesun]

This is really happening ,its just water that is being affected .In explaining the oil fracting business, to extract oil out of a strata layer of limestone it must first introduce highly pressurized water followed by a chemical recipe ,the pressure needed is enormously high ,with that pressure experts say its just a matter of time for these depths to release its now highly toxic sludge to the upper fresh water table .The newest explored water source will know be brackish water from bay areas,this is likely to deminish any natural springs of fresh water for wildlife not to mention people .The type of polution being introduced has never been explore on an outcome of how the ecosystem will be affected ,so naturally the petroleum companies love the fact that to have an expert on a problem you first need to have a problem to exist .Well their will be plenty of experts coming forward on this blunder.
Going back into the past gives us some answers for whats in our future. A small sleepy little community outside of Baytown Texas was in the same control,The Highlands community which in that era had to issue water warnings to the public due to benzen and other toxins in its water supply ,still in the water table today .An off shoot company of Exxon had a dumping sludge site along the San Jacinto river basin in which the waters are still contaminated ,the yr was 1954.Im sure the same kind of lawyer talk was going on back in this era .The only remedy for locals to get water was and is a pipelined source from 30 miles away.
This is going to be on a much bigger scale of polluted area ,its already a reality for some areas were the F bomb has its structuring in place.In the not to distant future fresh water will be rainfall sourced ,the circle of waters path from sky to ground to reappear as springs will suffer for many yrs to come and a clause in the future law books around water rights will follow a prevention for homeowners from catching their own rainfall .The next move on how the petroleum companies are going to react on the water supply source issue will most certainly be a selected route chosen for the reasons of cost ,it will incorporate local city and counties tax money to provide larger water pipelines in search for the larger needs of water for fracting , the infrastructure of these pipelines will be tax payer laid .
Countries such as France ,Russia and a few other countries are on the other side of the fence ,the one that is highly recognized as pushing this source of exploration is England but as you guessed it ,they have not allowed it on its shores ,that should send up the biggest red flag.
A State by State ,County by County system will be destined for higher costs and the most common of natures resources ,water,will be milled through piping companies to deal out fresh water through new infrastructures ,The United States will be subjected under a sort of water barons system governed by,you guess it ,oil corps,the board is already being setup and we will pay ,pay ,pay.