Forum Replies Created
-
AuthorPosts
-
davelj
Participant[quote=gandalf]I agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.[/quote]
True, unfortunately. There will be a few high-profile successful prosecutions and host of small-time folks will get nailed as well. But in the larger scheme of things, the majority of malcontents will walk away unscathed.
[quote=gandalf]
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.[/quote]While individual Deadbeat Joes are a tiny fraction of the problem, Deadbeat Joes as a group are a big part of the problem. They’re the source of a huge part of the SFR losses, after all. So, I care about both – the banking malcontents and the Deadbeat Joes. But of one thing I’m sure: neither will truly suffer much. It’s the nature of the game.
Participant[quote=gandalf]I agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.[/quote]
True, unfortunately. There will be a few high-profile successful prosecutions and host of small-time folks will get nailed as well. But in the larger scheme of things, the majority of malcontents will walk away unscathed.
[quote=gandalf]
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.[/quote]While individual Deadbeat Joes are a tiny fraction of the problem, Deadbeat Joes as a group are a big part of the problem. They’re the source of a huge part of the SFR losses, after all. So, I care about both – the banking malcontents and the Deadbeat Joes. But of one thing I’m sure: neither will truly suffer much. It’s the nature of the game.
Participant[quote=gandalf]I agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.[/quote]
True, unfortunately. There will be a few high-profile successful prosecutions and host of small-time folks will get nailed as well. But in the larger scheme of things, the majority of malcontents will walk away unscathed.
[quote=gandalf]
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.[/quote]While individual Deadbeat Joes are a tiny fraction of the problem, Deadbeat Joes as a group are a big part of the problem. They’re the source of a huge part of the SFR losses, after all. So, I care about both – the banking malcontents and the Deadbeat Joes. But of one thing I’m sure: neither will truly suffer much. It’s the nature of the game.
ParticipantWhy don’t we add a large volunteer component to San Diego’s fire department?
Plenty of large cities have both a full-time (career) component alongside an even larger volunteer component. 73% of all fire fighters in the U.S. are volunteers. There’s no evidence to suggest that the volunteers perform any worse than the full-timers. Why don’t we do that here? That would solve a lot of comp-related issues going forward.
ParticipantWhy don’t we add a large volunteer component to San Diego’s fire department?
Plenty of large cities have both a full-time (career) component alongside an even larger volunteer component. 73% of all fire fighters in the U.S. are volunteers. There’s no evidence to suggest that the volunteers perform any worse than the full-timers. Why don’t we do that here? That would solve a lot of comp-related issues going forward.
ParticipantWhy don’t we add a large volunteer component to San Diego’s fire department?
Plenty of large cities have both a full-time (career) component alongside an even larger volunteer component. 73% of all fire fighters in the U.S. are volunteers. There’s no evidence to suggest that the volunteers perform any worse than the full-timers. Why don’t we do that here? That would solve a lot of comp-related issues going forward.
ParticipantWhy don’t we add a large volunteer component to San Diego’s fire department?
Plenty of large cities have both a full-time (career) component alongside an even larger volunteer component. 73% of all fire fighters in the U.S. are volunteers. There’s no evidence to suggest that the volunteers perform any worse than the full-timers. Why don’t we do that here? That would solve a lot of comp-related issues going forward.
ParticipantWhy don’t we add a large volunteer component to San Diego’s fire department?
Plenty of large cities have both a full-time (career) component alongside an even larger volunteer component. 73% of all fire fighters in the U.S. are volunteers. There’s no evidence to suggest that the volunteers perform any worse than the full-timers. Why don’t we do that here? That would solve a lot of comp-related issues going forward.
Participant[quote=investor]Bon Appetite. http://www.youtube.com/watch?v=CCjuXQOVurc&feature=related%5B/quote%5D
Money quotes begin at 3:55. “It’s [his book] not really about money and banking and theory and accounting and all of that sort of thing… It’s a whodunnit… It makes it more interesting.”
Well, at least he admits it. He doesn’t understand squat about banking, theory or accounting. Now, how one can purport to write a relevant book on the Federal Reserve System without understanding these things is beyond me. But clearly it didn’t stop Griffin. But, in Griffin’s defense, it sounds to me like “relevance” wasn’t his goal – it was making it “interesting.” That’s straight from the horse’s mouth. Clearly he succeeded for many on that count.
Participant[quote=investor]Bon Appetite. http://www.youtube.com/watch?v=CCjuXQOVurc&feature=related%5B/quote%5D
Money quotes begin at 3:55. “It’s [his book] not really about money and banking and theory and accounting and all of that sort of thing… It’s a whodunnit… It makes it more interesting.”
Well, at least he admits it. He doesn’t understand squat about banking, theory or accounting. Now, how one can purport to write a relevant book on the Federal Reserve System without understanding these things is beyond me. But clearly it didn’t stop Griffin. But, in Griffin’s defense, it sounds to me like “relevance” wasn’t his goal – it was making it “interesting.” That’s straight from the horse’s mouth. Clearly he succeeded for many on that count.
Participant[quote=investor]Bon Appetite. http://www.youtube.com/watch?v=CCjuXQOVurc&feature=related%5B/quote%5D
Money quotes begin at 3:55. “It’s [his book] not really about money and banking and theory and accounting and all of that sort of thing… It’s a whodunnit… It makes it more interesting.”
Well, at least he admits it. He doesn’t understand squat about banking, theory or accounting. Now, how one can purport to write a relevant book on the Federal Reserve System without understanding these things is beyond me. But clearly it didn’t stop Griffin. But, in Griffin’s defense, it sounds to me like “relevance” wasn’t his goal – it was making it “interesting.” That’s straight from the horse’s mouth. Clearly he succeeded for many on that count.
Participant[quote=investor]Bon Appetite. http://www.youtube.com/watch?v=CCjuXQOVurc&feature=related%5B/quote%5D
Money quotes begin at 3:55. “It’s [his book] not really about money and banking and theory and accounting and all of that sort of thing… It’s a whodunnit… It makes it more interesting.”
Well, at least he admits it. He doesn’t understand squat about banking, theory or accounting. Now, how one can purport to write a relevant book on the Federal Reserve System without understanding these things is beyond me. But clearly it didn’t stop Griffin. But, in Griffin’s defense, it sounds to me like “relevance” wasn’t his goal – it was making it “interesting.” That’s straight from the horse’s mouth. Clearly he succeeded for many on that count.
Participant[quote=investor]Bon Appetite. http://www.youtube.com/watch?v=CCjuXQOVurc&feature=related%5B/quote%5D
Money quotes begin at 3:55. “It’s [his book] not really about money and banking and theory and accounting and all of that sort of thing… It’s a whodunnit… It makes it more interesting.”
Well, at least he admits it. He doesn’t understand squat about banking, theory or accounting. Now, how one can purport to write a relevant book on the Federal Reserve System without understanding these things is beyond me. But clearly it didn’t stop Griffin. But, in Griffin’s defense, it sounds to me like “relevance” wasn’t his goal – it was making it “interesting.” That’s straight from the horse’s mouth. Clearly he succeeded for many on that count.
Participant[quote=investor]People fighting griffin’s ideas just don’t want to question their own firmly held beliefs and get angry when you do. So what. Close mindedness is never appealing risk…[/quote]
Pot calls kettle black.
You Conveniently disappeared for a few months after you last brought up Griffin and I pointed out in clear prose – using his own words – that this man does not even understand the basics of banking. Please feel free to pick up the thread.
http://piggington.com/do_you_know_what_the_federal_reserve_is?page=4
-
AuthorPosts
