HELP   |   REGISTER   |   LOGIN
RSS
The Individual Investor Intelligence Network
HOME  |  GLOBAL MACRO  |  MEDIA  |  TECHNOLOGY  |  BIOTECH  |  COMMODITIES  |  EDUCATION  |  IU25 INDEX  |  ABOUT US

Sock It to 'Em: A Call for Penal Reform

NO RATINGS
View Comments: Newest First | Oldest First | Threaded View
Page 1 / 3   >   >>
impactnow
User Rank
Iron
Penal reform uniform
impactnow   2/23/2012 10:16:51 AM
NO RATINGS

The challenge is that government and our politicians are driven private funding –the lobbyists for the bank and those that benefit from skirting the law have no interest in bringing this issue to the forefront. The penal code should be uniform and the criminals white collar and otherwise should be put into the general population.

Scott Raynovich
User Rank
Blogger
Re: Add Corzine to the list
Scott Raynovich   2/14/2012 5:28:22 PM
NO RATINGS
Of course they hate this. It allows them to increase leverage and make big risky bets with Other People's Money (OPM). With the law, they cannot take big risks with your money.

Why did big banks like taking big risks with your money? Cause they get paid bonuses based on what they do with your money. And if those bets blow up, they can always look for a bailout.

Noreen Seebacher
User Rank
Blogger
Re: Add Corzine to the list
Noreen Seebacher   2/14/2012 3:08:05 PM
NO RATINGS
Read this-- it'll confirm your frustrations. Big banks paid calls on federal financial agencies in the days leading up to Monday's midnight deadline for the public to submit comments on the controversial Volcker rule, a provision of the Dodd-Frank financial regulatory legislation meant to prohibit banks from using customers' money to make risky bets on the market. Bank of America and Morgan Stanley paid visits to the Commodity Futures Trading Commission (CFTC) in recent weeks, according to reports of meetings with outside groups that federal financial agencies make available voluntarily. http://reporting.sunlightfoundation.com/2012/Volcker_rule/

chapAnjou
User Rank
Iron
Re: Add Corzine to the list
chapAnjou   2/14/2012 2:13:25 PM
NO RATINGS
@Noreen

You're right, that's all there really is to do.  Perhaps I'm very cynical (not "perhaps", I know I am haha), but at some point there's going to be a moment where talking about the problem will grow old, the lack of results will breed frustration and hope will be in short supply.

Having said all that, it is somewhat comforting to know that there are likeminded people experiencing the same frustration and, at the very least, it's nice to just vent about it :)

Noreen Seebacher
User Rank
Blogger
Re: Add Corzine to the list
Noreen Seebacher   2/14/2012 1:56:53 PM
NO RATINGS
It's very frustrating. Really seems like the only solutions are to continue to talk about the problem, encourage action and hope for the best.

 

chapAnjou
User Rank
Iron
Re: Add Corzine to the list
chapAnjou   2/14/2012 1:25:23 PM
NO RATINGS
"If someone makes the excuse that the SEC doesn't have the staff to fully prosecute, I'm going to ... I don't know...do something! They could hire more investigators and pay them more if they would actually improse the correct fines for these flagrant violations of law."


The combination of the above quote from "cat tail" and the contents of this article have really made me question what any of us can really do to curtail this kind of culture of leniency we've created for the white collar workers.

Without accountability for ones actions, and without unbendable rules for those without any kind of moral fiber, what is there that the rest of can really do?  It's a very helpless feeling when certain groups of ppl are able to get special treatment and the authorities are turning a blind eye.

Sure, you could protest like OWS did but even then, how many people here actually felt that OWS was being done "for you"?  It seemed more like a giant party for a bunch of disillusioned college grads that realized you can't just blink and have a career.  Long story short, I feel there's no one on the side of the majority and these ppl in the financial sectors are able to just do as they please with little to no consequence.

impactnow
User Rank
Iron
Penal code equity?
impactnow   2/13/2012 12:13:28 PM
NO RATINGS

To quote Don Henley "a man with a briefcase can steal more money than any man with a gun"—but why is the punishment so different. One is a deterrent the other elicits a coy smile. The behavior won't change until the punished becomes harsh and humiliating.

Noreen Seebacher
User Rank
Blogger
Re: Uh -- fraud convictions?
Noreen Seebacher   2/12/2012 6:59:14 PM
NO RATINGS
Justice implies fairness. But just remember "Fair" is what you attend in the summer, not something you should expect in life.

Scott Raynovich
User Rank
Blogger
Re: Uh -- fraud convictions?
Scott Raynovich   2/12/2012 1:24:29 PM
NO RATINGS
... or the ability of our justice system to bring home... er... justice.

Bargain Bin
User Rank
Blogger
Re: Uh -- fraud convictions?
Bargain Bin   2/11/2012 3:48:10 PM
NO RATINGS
Is it just wishful thinking to believe that there's just been more baseless claims? 

Page 1 / 3   >   >>


The blogs and comments posted on Investor Uprising do not reflect the views of Investor Uprising, PRNewswire, or its sponsors. Investor Uprising, PRNewswire, and its sponsors do not assume responsibility for any comments, claims, or opinions made by authors and bloggers. They are no substitute for your own research and should not be relied upon for trading or any other purpose.

More Blogs from Marvin Kitman
I have seen the future… and I am sending it back.
Si Newhouse is redefining the definition of a daily newspaper as a periodical by turning the New Orleans Times-Picayune into a sporadical.
There has to be a less annoying way to finance interruption-free public broadcasting than constant interruptions.
CNN replaced Larry King with Piers Morgan. No wonder its ratings are the lowest in 10 years.
Chase CEO Jamie Dimon revealed last week that the bank had managed to create a massive $2 billion trading loss. That was the good news.
IU Education
Resources to help you become a better investor
IU Education
Quick Poll
If you had the option to direct the entire amount you pay in income taxes to an IRS-recognized charity devoted to education, healthcare, social welfare, or the environment instead, would you?
  Yes, eagerly.
  I would pay the equivalent of 50% or more of my income tax to a charity.
  I would pay the equivalent of up to 50% of my income tax to a charity.
  No, I trust the government completely to spend my tax dollars wisely.
  Other. Tell us on the message boards.
Investor Uprising on Twitter
Investor Uprising on Twiter
Market Chatter
Like Us on Facebook
25 market-moving companies we're tracking
     Investor Uprising 25 1052.27 +29.28 (+2.86%)
     Agrium, Inc. 88.47 +1.19 (+1.36%)
     America Movil S.A.B. de C.V. ADS 26.06 +0.78 (+3.09%)
     Apple, Inc. 584.00 +14.95 (+2.63%)
     Atwood Oceanics, Inc. 37.84 +1.32 (+3.61%)
     Broadcom Corp 33.76 +1.28 (+3.94%)
     Celgene Corp 64.16 +2.11 (+3.40%)
     Cliffs Natural Resources 49.29 +2.14 (+4.54%)
     Cognizant Technology Solutions 60.00 +3.80 (+6.76%)
     Dolby Laboratories Inc. Cl A 41.30 +0.71 (+1.75%)
     Eldorado Gold Corp. 12.32 +0.30 (+2.50%)
     First Solar, Inc. 15.06 +0.31 (+2.10%)
     Gilead Sciences, Inc. 51.28 +1.24 (+2.48%)
     GT Advanced Tech 5.28 +0.27 (+5.39%)
     Johnson Controls, Inc. 27.71 +1.02 (+3.82%)
     Marathon Oil Corp. 25.57 +0.91 (+3.69%)
     Microsoft Corp 30.59 +0.68 (+2.27%)
     Newmont Mining Corp. 48.51 +1.39 (+2.95%)
     Omnivision Technologies, Inc. 13.34 +0.80 (+6.38%)
     Priceline.com, Inc. 664.52 +21.04 (+3.27%)
     Qualcomm, Inc. 55.68 +1.38 (+2.54%)
     Sandisk Corp 36.48 +1.78 (+5.13%)
     Southwestern Energy Co. 31.93 +1.15 (+3.74%)
     Suncor Energy, Inc. 28.95 +1.59 (+5.81%)
     Veeco Instruments, Inc. 34.36 +1.41 (+4.28%)
     VISTAPRINT 32.30 +1.81 (+5.94%)
PR Newswire's Terms of Use Apply | Privacy | Contact Us
Copyright 1996-2012 PR Newswire Association LLC. All Rights Reserved.
A UBM plc company.
PR Newswire