Tuesday, August 30, 2011

Financial piracy

Moral: Wherein we opine about the current state of financial affairs now that Big Ben has graced (?) the Tetons with his presence, again.


There used to the a thing called "debtors' prison" where one who got into dire straits, whether by fate or by own's one idiocy, spent time. In some of these, people were not fed; essentially, the place was a warehouse to stack those whose fortunes diminished to negative terms.

Somehow, we got to where being in debt was the "thing" to do. In fact, some exalted at how much credit they had and could use.

Sorry state of affairs. Both the physical prison and this virtual new prison. We are going to argue that this latter prison is more insidious by a long shot.

What did we do? We have the USofA now indebted to the likes of former enemies.


Now, why "financial piracy" in the title? Some claim that morality left business. Was it ever there? One might say that the last drop of 'morality' ran out. So, we have this monster of a thing, with flashing lights and boisterous hawkers and, of course, the priestly types. And, it is daily proffered through our technical prowess, yes, television and the web and more.

Allah                                              Moolah
The so-called "markets" of such importance to some. In the case of the financial pirates, there is little of 'value' that is bought and sold.

To what end is this crap-shooting ca-pital-sino? To suck monies from the pockets of the hapless into that of the fat-catted ones who are in position to take advantage of the situation. Unfortunately, the politicos (those who salivate at the thought of a buck) have turned their backs on those in need in order to make things better for this upper crust.


It may be that the larger part of the basis for a sustainable economy is the consumer. Yet, several things are implied there, the first of which would be that 'piracy' under the guise of financial imperatives would be strictly limited (sandbox'd, in other words).

Yes, those who are in control of the money (and whatever basis that we put it upon) would be of 'simple living' (the military metaphor holds - but, not the officers who become Generals and pains in the asses -- no, talking the enlisted here [E1, in fact] -- ah, but general-hood implies ability and talent to use such, does it not? --- hah! for any officer, there are scads of enlisted who are as smart and talented).


This theme will be explored more. If Big Ben were such as to think about Main Street rather than the Wall'd warts (and all of their ilk), he would not have polluted the rare air of the Tetons area with all of those hot-air'd types who gathered last week to honor 'moolah' and its chimera. No, there are countless slums in the world (and in the US) where these types could have seen the effects of their decisions up close and personal.

Oh? Of course, they do not want to do this, as is not their dwelling in the 'heights' too much fun and causes them to disdain the 99.9999% who suffer from their coddling of the big guys?

Ah, think of those who were bailed out, cooling their heels in a debtors' prison? Nice thought!


07/25/2015 -- We're about six weeks after the June look back at 800 years ago (Magna Carta). Too, though, poster boys have popped out of the woodwork, including Zweig.

08/27/2013 -- Golden Sacks made some error the other day (the perennial computer glitch - traced back to the best and brightest, okay?) that accumulated to $100M or so. Guess what? They got off with even a hand-slap. What? Put them all in the stocks for a week (or debtor's prison).

05/09/2013 -- Ben needs to take off the training wheels and let the markets go where they may (falling mode, most likely) and let the seniors have a little stability (Slapped silly, again, yesterday).

12/22/2012 -- Fair and open actually used in a WSJ article.

07/21/2012 -- Another thing uncovered, gaming of LIBOR.

05/30/2012 -- As covered by flightblogger.

09/29/2011 -- The question remains. Even with 'financial engineering' what is the science behind finance? Gaming, only? Who has the basic ontology (other than wealth for the few)?

09/27/2011 -- Recover missing image (Allah and moulah).

09/21/2011 -- On Wealth and the CEO MVP.

09/09/2011 -- Big Ben and the consumer.

08/30/2011 -- A tale from the trenches, not exaggerated. There was a techie company that has a piece of it that has been around since the 60s. The company is no longer around, except in memory. However, the group has been picked up multiple times by other companies over the years. A devoted type of employee (by the way, war vet) has endured with the group during this time. Following the history is a good read on changes over the related decades. The message? On one of the movements between overlords (financial types, of course), these employees' retirement accounts were given to a large, well-known insurance company for management. What was the first thing that they (the cruds) did? Took a large percentage (way beyond what one would think was reasonable) off the top, as their fee? What? There are tales, such as this, all over the economy. Do we pay attention? Do the regulators (ah, remember how they could not even see Made-off when he was right in front of them?) even know how? Sorry state of affairs, folks. Not only are there these tales, but they are legion (putrid to the core - what the hell has happened over the past 30-40 years, folks?). Oh, is it the lack of any sense of responsibility, or ethics, on the part of the boomers? Much to discuss.

08/30/2011 -- The status of Officer versus Enlisted is one of the last bastions of legal 'classism' in the United States. Is it necessary? Not really. All the arguments about 'leadership' run toward what we see with 'politicos' who cannot keep their salivating selves in check when they see, or think of, a buck. Sad state of affairs. Of course, the idiocy started with the onset of the new country. Yes, we're talking over 200 years of divisive methods. It is a wonder that the country has survived the shenanigans. Another bastion? Those new royalty who are the corporate elite riding herd on what the Supreme Court's members say is a 'person' and whose use of their money is equivalent (same type of ruling) to free speech (ah, twisted, indeed). Too, these royals can trample the mere citizen with impunity (no wonder, those who are the masses still yearn -- yes, the chimera has stolen the American dream).

Modified: 07/25/2015

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