Tradefair & Financials

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07 Dec 11 21:22
Date Joined: 09 Jun 10
| Topic/replies: 1,564 | Blogger: wykhamist2's blog
Great programme on BBC2 right now, Charles Ferguson's award-winning forensic analysis of the 2008 global financial crisis.

Pulls no punches attacking the rich and powerful of the investment banking community. I just wish more people outside the industry could understand what a gigantic fraud has been committed against them and we could force the politicians to take the appropriate action.
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Report FINE AS FROG HAIR December 7, 2011 10:15 PM GMT
And what would be the appropriate action ?.
Btw I think most of us out there fully comprehend the rorts and frauds that have been committed.
But unfortunately these types of crimes are full of legal loopholes and ambivalances, and would cost more to prosecute than it would probably be worth.
Of course I'm only talking in monetary terms here.
From a moral standpoint it might make a world of difference to bring many of these clearly identifiable rogues to some sort of justice and accounting.
The best we can probably hope for is to bring in more regulations, which in turn will be full of loopholes to exploit once again in the future.
It appears that, as a race, mankind can never seem to learn the lessons from its past mistakes, particularly in the areas of high finance.
Report wykhamist2 December 7, 2011 10:38 PM GMT
The academic economists didn't come off awfully well either in the programme. It kind of left the impression that economics has no credibility at all if the published papers were written to support vested interests.

Politicians won't do anything because the electorate seem happy to support the status quo. However once people actually start to starve you might notice a rather sudden and severe backlash.
Report FINE AS FROG HAIR December 7, 2011 11:35 PM GMT
People have been starving for centuries and it has made no difference.
Why should now be any different ?.
You think we'll have a better class of starver perhaps ?
Report FINE AS FROG HAIR December 7, 2011 11:36 PM GMT
Greeks without their daily kebabs ?
Now that would be dangerous perhaps.
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