“SEC May Not Prosecute Congressmen For Fear Of Budget Cuts”
h/t John G
19 Replies to “The Decline And Fall Of The American Empire”
This should make it clear to every American, or anyone really with money in the stock market, that we are becoming a lawless society where those with connections be they bankers, hedge fund mangers, etc. are allowed to steal and NOTHING is done to punish them. Not them or the politicians who get insider trade tips and make a fortune off the suffering of the very people they claim to want to help.
We are headed for very troubled times ahead indeed if we don’t start standing up and doing something about all the thievery!
If you have funds in the stock market, I would be very wary.
The rot in Washington goes right down to the bone. Perhaps the title of a future book will be called “Why democracy committed suicide”. Greed and lack of ethics should be on the tombstone of the greatest empire, that died because we believed in a system that was the envy of the world. Now we find that the system has so many Enrons and Madoffs that survival as a nation is in question. Just like the Roman Empire died from rot from within……history is repeating itself. I just hope there are enough people in congress that see the looming black hole, but somehow I doubt it. As of today it’s still business as usual and time is running out. We really need a hero and there is none in sight.
This reminds me of just how corrupt the Liberals where for years before they where actually caught with paper bags of tax money. The years of this rot almost destroyed this Nation. The good news is they where caught & now couldn’t form a government to run an outhouse.
If America wakes up enough to notice how their being pillaged by their own government, no matter the Party . They too can regenerate.
What they need is a tabula Rasla of new comers. Not these hack pols that have haunted the Congress & Senate for years.
Some seem to be hereditary seats. No wonder its so defiled by conman.
Ron Paul!
Um, WTF is the SEC going to prosecute the congressmen for? Insider trading? As I noted here last week, congressmen are IMMUNE from insider trading laws, and in fact, most other securities violations.
You can’t be free with the federal income tax a.d its partner, the Federal Reserve. Centralized money and debt manufacturing is financial fascism.
You can’t be free with the federal income tax a.d its partner, the Federal Reserve. Centralized money and debt manufacturing is financial fascism.
Kevin,
Correct, serving congressman cannot be charged with insider trading. Corizine is no longer a congressman/Senator.
The SEC regulates the securities industry, which means that the the theft of client money, which was supposed to be segregated from MF Global operational funds, is absolutley within their purview. In fact, it is more than an option for the SEC to look at it is fundamental to their mission of ensuring well ordered securities markets.
There are also criminal matters that can be brought into this as well. But those are harder to prove.
The elected are in the enviable position of never having to say you’re sorry. However the rot that allows these politician’s to ignore the laws that they passed is aided and abetted by a portion of the civil service. Just as with Adscam, this type of corruption depended on two things to exist, ambitious individuals that would stop at nothing to achieve their personal goals, and a code of silence that insured none of the participants would rat lest they be ratted out as well.
Budget cuts would be the least of their problems for the SEC, there is a cultural problem at Capital Hill where the elected can be corrupted, and a machine exists that can destroy anyone that threatens it’s existence.
Yes throw them all out.
But then go to the civil service and fire them all.
With every passing day, the motivations of the Russian peasants in 1917 become more understandable.
Two words, Tea Party.
Let us not forget my friends, this type of thing is nothing new in American politics. Recall the Robber Barons of the 19th Century. Recall also the failed parties of the past, like the Whigs, the Federalists, etc. Most of which were swept out on a tsunami-wave of outrage at their cleptocratic ways.
There’s nothing going on here that can’t be fixed with a political bloodbath at the polls. My prediction for 2012, the DemocRats will be crushed, the Republicans will form the unofficial Left, and the Tea Party will form the Right.
And the media will have a paroxysm. Which will be fun to watch. 🙂
Stephen:
I guess I should have watched the clip, but it was taking too long to load.
At any rate, the SEC should be the least of Corzine’s worries. I have to believe there’s either a bunch of civil fraud suits, or one massive class action, that are/is being launched against him. All the directors and officers’ insurance in the world won’t save you from deliberate flouting of the rules.
I note that the ten year projected deficit is about $40 Trillion. That is largely from ten years of increased growth of government, ten years of exponential increase in spending – all of which is assumed to be “normal.” Note that the Supercommittee was charged with reducing that $40 Trillion by $1.4 Trillion, and they couldn’t do it. And now we cannot find a way to cut the increase in spending by $1.4 Trillion in ten years. We may deserve what is happening to us. But feel good: there will be big pensions for government workers, raises for the civil service, continuing good times for those who live on taxes. We’ll have to raise taxes on those who actually produce something, and we’ll have to confiscate most of that loose capital that corporations have accumulated (how dare they flee overseas!!) and we can have sales taxes as well as more progressive taxes, but we’ll be able to pay the government workers and their pensions. Then there’s the health care we can provide, and open borders, and all we need is for those people who work to go on working. But it is wrong to talk about teaching work habits. We teach entitlement habits. Let the rich teach their children work habits. Someone has to work. Who should it be, me? We can’t reduce the increase in deficit from $40 Trillion to $38 Trillion over the next ten years. Just not possible. We can’t cut spending, so we just have to raise taxes. If anyone objects, occupy the public squares. We’ll teach them. http://jerrypournelle.com/jerrypournelle.c/chaosmanor/
“The Decline And Fall Of The American Empire”
Let me fix that headline for ya, Kate.
The Decline, Fall and Irrelevance of the American Empire.
Funny, I am sure some chick named Sarah Palin has been talking about this for 3 years now….Oh, that’s right, she is not very bright…Good thing we have all of these smart people popping up talking her talk in big people circles… Reagan was just a dumb cowboy too!
Is the US the most corrupt nation on the face of the Earth? Or does it merely look like it?
If Hamid Karzai weren’t polite, he would laugh in the faces of those Americans who complain about his corruption – laugh and ask for lessons on how to do it more effectively.
“Is the US the most corrupt nation on the face of the Earth? Or does it merely look like it?”
I would hazard a guess that the USA is one of the -least- corrupt nations on Earth, and is in fact less corrupt than Canada.
How scary is that?
@ The Phantom
I think corruption is rampant in any and all government and always has been. Numerically the USA is far more corrupt than Canada if one counts all the Enrons,Worldcoms,Lehman Bros. AIG’s ,Fanny May’s, Freddie Mac’s, Solyndras and actually this page is too small to get them all on. Of course they have 10 times the population of Canada, but I was trying to make a list of all our major scandals and am pleased to tell you the USA is the runaway WINNER.
This should make it clear to every American, or anyone really with money in the stock market, that we are becoming a lawless society where those with connections be they bankers, hedge fund mangers, etc. are allowed to steal and NOTHING is done to punish them. Not them or the politicians who get insider trade tips and make a fortune off the suffering of the very people they claim to want to help.
We are headed for very troubled times ahead indeed if we don’t start standing up and doing something about all the thievery!
If you have funds in the stock market, I would be very wary.
The rot in Washington goes right down to the bone. Perhaps the title of a future book will be called “Why democracy committed suicide”. Greed and lack of ethics should be on the tombstone of the greatest empire, that died because we believed in a system that was the envy of the world. Now we find that the system has so many Enrons and Madoffs that survival as a nation is in question. Just like the Roman Empire died from rot from within……history is repeating itself. I just hope there are enough people in congress that see the looming black hole, but somehow I doubt it. As of today it’s still business as usual and time is running out. We really need a hero and there is none in sight.
This reminds me of just how corrupt the Liberals where for years before they where actually caught with paper bags of tax money. The years of this rot almost destroyed this Nation. The good news is they where caught & now couldn’t form a government to run an outhouse.
If America wakes up enough to notice how their being pillaged by their own government, no matter the Party . They too can regenerate.
What they need is a tabula Rasla of new comers. Not these hack pols that have haunted the Congress & Senate for years.
Some seem to be hereditary seats. No wonder its so defiled by conman.
Ron Paul!
Um, WTF is the SEC going to prosecute the congressmen for? Insider trading? As I noted here last week, congressmen are IMMUNE from insider trading laws, and in fact, most other securities violations.
You can’t be free with the federal income tax a.d its partner, the Federal Reserve. Centralized money and debt manufacturing is financial fascism.
You can’t be free with the federal income tax a.d its partner, the Federal Reserve. Centralized money and debt manufacturing is financial fascism.
Kevin,
Correct, serving congressman cannot be charged with insider trading. Corizine is no longer a congressman/Senator.
The SEC regulates the securities industry, which means that the the theft of client money, which was supposed to be segregated from MF Global operational funds, is absolutley within their purview. In fact, it is more than an option for the SEC to look at it is fundamental to their mission of ensuring well ordered securities markets.
There are also criminal matters that can be brought into this as well. But those are harder to prove.
The elected are in the enviable position of never having to say you’re sorry. However the rot that allows these politician’s to ignore the laws that they passed is aided and abetted by a portion of the civil service. Just as with Adscam, this type of corruption depended on two things to exist, ambitious individuals that would stop at nothing to achieve their personal goals, and a code of silence that insured none of the participants would rat lest they be ratted out as well.
Budget cuts would be the least of their problems for the SEC, there is a cultural problem at Capital Hill where the elected can be corrupted, and a machine exists that can destroy anyone that threatens it’s existence.
Yes throw them all out.
But then go to the civil service and fire them all.
With every passing day, the motivations of the Russian peasants in 1917 become more understandable.
Two words, Tea Party.
Let us not forget my friends, this type of thing is nothing new in American politics. Recall the Robber Barons of the 19th Century. Recall also the failed parties of the past, like the Whigs, the Federalists, etc. Most of which were swept out on a tsunami-wave of outrage at their cleptocratic ways.
There’s nothing going on here that can’t be fixed with a political bloodbath at the polls. My prediction for 2012, the DemocRats will be crushed, the Republicans will form the unofficial Left, and the Tea Party will form the Right.
And the media will have a paroxysm. Which will be fun to watch. 🙂
Ann Barnhardt: The Entire Futures/Options Market Has Been Destroyed by the MF Global Collapse
http://www.financialsense.com/financial-sense-newshour/guest-expert/2011/12/01/ann-barnhardt/entire-futures-options-market-destroyed-by-mf-global-collapse
Stephen:
I guess I should have watched the clip, but it was taking too long to load.
At any rate, the SEC should be the least of Corzine’s worries. I have to believe there’s either a bunch of civil fraud suits, or one massive class action, that are/is being launched against him. All the directors and officers’ insurance in the world won’t save you from deliberate flouting of the rules.
I note that the ten year projected deficit is about $40 Trillion. That is largely from ten years of increased growth of government, ten years of exponential increase in spending – all of which is assumed to be “normal.” Note that the Supercommittee was charged with reducing that $40 Trillion by $1.4 Trillion, and they couldn’t do it.
And now we cannot find a way to cut the increase in spending by $1.4 Trillion in ten years.
We may deserve what is happening to us. But feel good: there will be big pensions for government workers, raises for the civil service, continuing good times for those who live on taxes. We’ll have to raise taxes on those who actually produce something, and we’ll have to confiscate most of that loose capital that corporations have accumulated (how dare they flee overseas!!) and we can have sales taxes as well as more progressive taxes, but we’ll be able to pay the government workers and their pensions.
Then there’s the health care we can provide, and open borders, and all we need is for those people who work to go on working. But it is wrong to talk about teaching work habits. We teach entitlement habits. Let the rich teach their children work habits. Someone has to work. Who should it be, me?
We can’t reduce the increase in deficit from $40 Trillion to $38 Trillion over the next ten years. Just not possible. We can’t cut spending, so we just have to raise taxes. If anyone objects, occupy the public squares. We’ll teach them.
http://jerrypournelle.com/jerrypournelle.c/chaosmanor/
“The Decline And Fall Of The American Empire”
Let me fix that headline for ya, Kate.
The Decline, Fall and Irrelevance of the American Empire.
Funny, I am sure some chick named Sarah Palin has been talking about this for 3 years now….Oh, that’s right, she is not very bright…Good thing we have all of these smart people popping up talking her talk in big people circles… Reagan was just a dumb cowboy too!
Is the US the most corrupt nation on the face of the Earth? Or does it merely look like it?
If Hamid Karzai weren’t polite, he would laugh in the faces of those Americans who complain about his corruption – laugh and ask for lessons on how to do it more effectively.
“Is the US the most corrupt nation on the face of the Earth? Or does it merely look like it?”
I would hazard a guess that the USA is one of the -least- corrupt nations on Earth, and is in fact less corrupt than Canada.
How scary is that?
@ The Phantom
I think corruption is rampant in any and all government and always has been. Numerically the USA is far more corrupt than Canada if one counts all the Enrons,Worldcoms,Lehman Bros. AIG’s ,Fanny May’s, Freddie Mac’s, Solyndras and actually this page is too small to get them all on. Of course they have 10 times the population of Canada, but I was trying to make a list of all our major scandals and am pleased to tell you the USA is the runaway WINNER.