If it's legal, is it cheating?

[merrylander]

Originally Posted by barbara

for me, the question would not be about if it's legal, but rather, is it ethical.

bingo!

[Oerets]

How could this not be fraud by both companies A and B ?




Barney

[merrylander]

Originally Posted by Oerets

How could this not be fraud by both companies A and B ?




Barney

Because it was simply a transfer of assets betweem two companies. Watching the Newshour last night they had a group of undecided Virginians on. One of them kept repeating the "Why have they not brought up some Wall Streeters on charges?" Because no one broke any laws, as Barbara has pointed out what they did was unethical but that is hardly a surprising thing for investment bankers. R&R want to retirn us to that environmet.

[BlueStreak]

Originally Posted by merrylander

Because it was simply a transfer of assets betweem two companies. Watching the Newshour last night they had a group of undecided Virginians on. One of them kept repeating the "Why have they not brought up some Wall Streeters on charges?" Because no one broke any laws, as Barbara has pointed out what they did was unethical but that is hardly a surprising thing for investment bankers. R&R want to retirn us to that environmet.

Right. Nothing illegal, but;

The difference I see in basic ideologies is that one seeks to curb unethical and damaging (IMO) behaviour in the financial sector, and the other apparently seeks to encourage it at worst, turn a blind eye to it at best.

Dave

[Oerets]

But this was a scheme to qualify for a loan then rob the company and file bankruptcy.

Might be legal just because of the lobbyist watering down any attempt to regulate the Financial services industry.




Barney

[Oerets]

Originally Posted by merrylander

Watching the Newshour last night they had a group of undecided Virginians on. One of them kept repeating the "Why have they not brought up some Wall Streeters on charges?" Because no one broke any laws, as Barbara has pointed out what they did was unethical but that is hardly a surprising thing for investment bankers. R&R want to retirn us to that environmet.

With the choices and decisions to be made how can anyone still be undecided?

I thought it was telling when the one women stated paraphrasing now, "Good or bad she felt Romney would get things done in Washington!" Good or Bad! Vote for someone thinking it might be bad but at least there is movement. Stay home and not vote if that is how you feel.




Barney

[BlueStreak]

Originally Posted by Oerets

With the choices and decisions to be made how can anyone still be undecided?

I thought it was telling when the one women stated paraphrasing now, "Good or bad she felt Romney would get things done in Washington!" Good or Bad! Vote for someone thinking it might be bad but at least there is movement. Stay home and not vote if that is how you feel.




Barney

Yeah, "things". What sort of "things"? And, do we really want all of them to get done?

My favorite place to watch these people in action is at work. There is nothing so precious as to walk into the shop and see some good ol' boy sitting on his ass in there, an hour into his fifteen minute break, bitching that we need ".....get rid of Obama" and "....hire a Republican to get "...all of the lazy ni**ers off of their asses and into a job." Then I walk out out onto the floor where I am surrounded by BLACK PEOPLE WORKING. The same guy will later insist that his views have nothing to do with racism.

I'm trying really hard to not hate white guys who think they carry the rest of the world on thier backs. For the most part they're full of hooey, and the boss uses this attitude to manipulate them. But, they're so pig headed, they don't see it. Or don't care.

I do not like thinking of my own kind that way, but it's becoming impossible to watch and stay silent anymore.

Sorry for the rant.

Dave

[bhunter]

Originally Posted by BlueStreak

Yeah, "things". What sort of "things"? And, do we really want all of them to get done?

My favorite place to watch these people in action is at work. There is nothing so precious as to walk into the shop and see some good ol' boy sitting on his ass in there, an hour into his fifteen minute break, bitching that we need ".....get rid of Obama" and "....hire a Republican to get "...all of the lazy ni**ers off of their asses and into a job." Then I walk out out onto the floor where I am surrounded by BLACK PEOPLE WORKING. The same guy will later insist that his views have nothing to do with racism.

People actually still speak like that in Virginia? I have not heard the N word uttered here, other than by AAs, in a decade or more. I must be overly isolated here in the People's Republic of California.

[ebacon]

The example I provided is called a REPO contract. Supposedly the arrangement has legitimate uses but, as the example shows, it is also subject to abuse.

My understanding is that Goldman Sachs sold REPOs to Greece that enabled their government to cook their books and get in the mess they are in. REPOs were also abused by corporations in ways similar to my example.

Here is more info on wiki:

http://en.wikipedia.org/wiki/Repo_105
http://en.wikipedia.org/wiki/Repurchase_agreement

The bottom line is watch out for deregulation. You just might get it.

[ebacon]

Here's an example from the Lehman Brothers collapse.

http://www.cbsnews.com/8301-503983_1...41-503983.html