Iran could teach the western world a thing or two

[Zep 0]

While they execute thieving bankers, the western world would make them
politicians or presidents or prime ministers.

Is their sentence over the top or is it time to make an example of
people in trusted positions.


http://www.bbc.co.uk/news/world-middle-east-19045737

Gone fishing

[jgoose71 0]

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The money was reportedly used to buy state-owned companies under the government's privatisation scheme.

I could see how this would be a capital offense in some countries....

"There is an art, it says, or, rather, a knack to flying. The knack lies in learning how to throw yourself at the ground and miss."
Life, the Universe, and Everything

[shah269 0]

I have brought this up before and have gotten screamed and at got a good number of nasty emails. So I will not say much.
HOWEVER seeing it's Irans government which isn't known for it's own ethical behavior.....it's a bit funny.

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[kelpdiver 2]

Quote

While they execute thieving bankers, the western world would make them
politicians or presidents or prime ministers.

Is their sentence over the top or is it time to make an example of
people in trusted positions.

Coupling their non existence system of law with the death penalty doesn't make for a good result.

Or another way - even a broken clock is occasionally correct.

[Skyrad 0]

Think its a bit over the top. however I'd like to see some hefty prison sentences handed out to people who commit such fraud in Europe.

When an author is too meticulous about his style, you may presume that his mind is frivolous and his content flimsy.
Lucius Annaeus Seneca

[jclalor 12]

Quote

Quote

While they execute thieving bankers, the western world would make them
politicians or presidents or prime ministers.

Is their sentence over the top or is it time to make an example of
people in trusted positions.


http://www.bbc.co.uk/news/world-middle-east-19045737

It's over the top. I pay zero attention to judicial policy that come from religious zealots that also routinely hang teenage girls for having sex.

[shah269 0]

But you have to admit....that the way our system of laws is set up most of these guys who steal from all of us seem to go wellish?
Now for me wellish means alive and kicking and with the free.
How about we start handing some say life sentences at supermax prisons? And a TOTAL liquidation of funds.
So the wife and kids are left with nothing that was obtained via the guys crimes?
Sure it may lack the theatrics of a public hanging...but I bet after 5 or so of them are sent off to supermax prisons maybe things will change?

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[kelpdiver 2]

the ones that actually commit fraud do in fact go to jail, and the sentences are significant enough to deter such behaviour.

The problem is that you want a lot of non criminals jailed for bad performance. That would have a rather negative effect on performance overall.

[jcd11235 0]

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How about we start handing some say life sentences at supermax prisons?

Why spend the extra tax money just keeping them off the streets? Minimum security serves that purpose well enough with most of these guys.

Math tutoring available. Only $6! per hour! First lesson: Factorials!

[weekender 0]

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But you have to admit....that the way our system of laws is set up most of these guys who steal from all of us seem to go wellish?
Now for me wellish means alive and kicking and with the free.
How about we start handing some say life sentences at supermax prisons? And a TOTAL liquidation of funds.
So the wife and kids are left with nothing that was obtained via the guys crimes?
Sure it may lack the theatrics of a public hanging...but I bet after 5 or so of them are sent off to supermax prisons maybe things will change?

please show me a few examples of how "most of these guys" who steal get off fairly easy. I am curious for an example of people convicted of stealing or i assume you mean bank fraud, getting off with all their money and little sentences. You seem to imply its quite common so please give me specific examples of real people. i ask because after 20 yrs in banking and seing numerous people caught i know of none that got of so easy.

I am looking for real people, convicted of real crimes. Not something from your imagination or a story about a friend who works in banking....a real example of a real person convicted of a real bank crime not being punished. This should be easy for you since you keep repeating the same theme.

You might not want to use Rajaratnam, Skilling, Madoff or Standford as examples. Because they are in super max prisons* and broke. But i know you wont because that would require you to use facts.

* It was pointed out correctly they are not in a super max prison. I meant to imply they were in a real prison doing real time. I should not have use d term i do not understand. hope this is more clear as to my intent.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[shah269 0]

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You might not want to use Rajaratnam, Skilling, Madoff or Standford as examples. Because they are in super max prisons and broke.

http://www.time.com/time/specials/packages/article/0,28804,1971588_1971589_1971575,00.html

Quote

Under federal court rules, he must serve at least 80% of his sentence, or 120 years, before being eligible for parole. The 71-year-old better get comfortable at his medium-security home — the Butner Federal Correctional Complex, outside of Raleigh, N.C.

OK so wehre is this place?
And how is his life?
http://nymag.com/news/crimelaw/66468/
Look he gets a warm bed, 3 meals a day and gets to see a doctor when he feels sick. He even gets to go for a walk every day and talk to others and enjoy the rest of his life.

Now you know as well as I do that not all of his money was found. Hell what was it $62 billion? I'm willing to bet a good 10% of all that will never be found but his family may never have to work after the old man dies.

He's a thief, that's all he ever was and that's all these guys ever were. Well the good ones. The bad ones rigged the game. And do you know what happens to people in vegas who try to rig the game? They get their hands broken if they are lucky.

Look I hate to say it, in this day and age, as it stands now untill things change and peole have trust in your system again...bankers and finance guys are at about the same level of trust as a child molester.

I'm sorry, yes I know not all of the people are crooks. But enough have done enough damage that well...we just don't trust you.

And before you go all nuclear on me and start screaming, I'm from Iran. Do you think I like being looked at as if I'm a terrorist evey time i get on an plane? No. But I understand it because enough dumb ass arabs and persians have done enough dumb ass stuff that I have to pay for it. so i as a member of this community we call society keep my eyes open for these numbskulls and if i hear or see any of this shit going down I'll be the first to call 911.

And so maybe the fianance people and banking people can learn from someone like me and maybe just maybe the world would be a better and sfer place?

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[jcd11235 0]

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You might not want to use Rajaratnam, Skilling, Madoff or Standford as examples. Because they are in super max prisons and broke. But i know you wont because that would require you to use facts.

They are not in supermax, which would be a waste of money.

Math tutoring available. Only $6! per hour! First lesson: Factorials!

[weekender 0]

Ok, so you think Madoff has it easy because his life sentence gets him a bed and a doctor. Still doesnt change that he is in for life, something, you seem to believe doesnt happen.

You failed to name a few people who got away with bank fraud. You clearly stated most get away with it, therefore, it should be easy to name just a few. Please name a few real people, who were convicted of a real bank crime and got away with a light sentence and kept all their money.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[weekender 0]

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Quote

You might not want to use Rajaratnam, Skilling, Madoff or Standford as examples. Because they are in super max prisons and broke. But i know you wont because that would require you to use facts.

They are not in supermax, which would be a waste of money.

you are right and i apoligize for using that term. i meant to imply they were doing real time in a real prison. I am not an expert on corrections and should not have used jargon i do not understand. im going to edit my post to be more clear.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[billvon 3,120]

>Now you know as well as I do that not all of his money was found.

A lot of it was. It's in investor's pockets.

Now let's say you were one of those investors. You put in $10,000. After ten years your account was worth $23,000. You took out $12,000 before his Ponzi scheme got shut down.

How much of that money should you be forced to give back, and how long should you spend in prison for taking other people's money?

>so i as a member of this community we call society keep my eyes open for these
>numbskulls and if i hear or see any of this shit going down I'll be the first to call 911.

"Hello, this is the 911 operator. What's the nature of your emergency?"
"I just saw a mutual fund manager invest in a mortgage backed security!"
"OK, sir. Is there an emergency?"
"Heck yes! The market might tank and they might lose people's investments!"
"Yes sir. Are you having any problems right now?"
"HELL YES! I'm mad as hell and I want SOMETHING DONE!"
"OK sir. We'll send some officers over to your address right away."
"Uh . .. no . . . send them to THEIR address! I'm not telling you where I am."
"I have your address right here, sir. They'll be there shortly."

[shah269 0]

Or predatory lending?
Or market manipulation? Can you say LIBOR?

Come on. Or taking huge risks with other peoples money because you get a better kick back if you do?

The system is broken but what can you do right?

Hell I'm tired of being pissed off at these folks. Why do you think my money is in my local credit union and i do my best to pay for things in cash?

And i guess I'll just retire in Mexico or something?

After why get angry or upset or any of that business?
Not like anything is going to change any time soon.

And i'm sure that's what Mr. M is thinking tonight after he has his warm meal and lays in his warm bed and wishes his cell mate a good evening.

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[billvon 3,120]

>Or predatory lending?

Even better!

"Hello, this is the 911 operator. "
"Someone just offered me a loan with a really good rate! It was on TV. I want them arrested!"

>The system is broken but what can you do right?

Not take out bad loans. Only borrow what you can pay back. Invest wisely. Save your money. Pretty simple stuff.

>And i'm sure that's what Mr. M is thinking tonight after he has his warm meal
>and lays in his warm bed and wishes his cell mate a good evening.

I bet there's room for you in there! It would get you out of your (claimed) hellhole of a condo. Heck, if you call 911 often enough on those evil bankers and salesmen, I'm sure they'll have a spot waiting for you.

[shah269 0]

Oh brother....that was too funny.
Good luck with that.

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[kelpdiver 2]

Quote

Or predatory lending?
Or market manipulation? Can you say LIBOR?

LIBOR remains an open story. Aside from being in a separate country, we know that several people have lost their job over it. Some of them may be charged.

[weekender 0]

we are all still waiting for you to provide just a few examples of people who committed bank fraud and got off with a light sentence. you have stated this numerous times how they go unpunished. if thats true, then it should be easy to come up with some examples of actual crimes being commited by actual people, actually getting away with it.

you are long hyperbole and short facts.

"The point is, I'm weird, but I never felt weird."
John Frusciante

[shah269 0]

Let us see where these Libor folks go.
Odds are a good number who left their jobs did it with very full pockets? I know I would.

As for pointing out exactly who got away with it....well how would any one know right? After all they did after all get away with it with little to no issues.

As i've said before, I'm sorry but as it stand at this moment in time. Bankers due to the actions of a few have little or no credibility.

But what can we as the public do? Sadly these bankers and banking institutions hold our futures in their hands.

You want to retire one day and have a viable 401k? Well i guess you have to hope that the banker watching over your 401k won't skim too much off the top?

Trust is gone. Much like as i said the actions of a few Arabs mean i get the "special" treatment when i am flying.

But such is life right?

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[kelpdiver 2]

Quote

As for pointing out exactly who got away with it....well how would any one know right? After all they did after all get away with it with little to no issues.

you purport to know. You claim they exist and can fill cruise ships. But now you're telling us this is unprovable. And by extension, not challengeable. That may work for an MBA, but it sure didn't for an engineer.

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You want to retire one day and have a viable 401k? Well i guess you have to hope that the banker watching over your 401k won't skim too much off the top?

If you can't prevent this from happening, it's your fault, or your employer. My 401k represents 10% of my assets - anyone who changes jobs can migrate their 401k into an IRA where they have total control.

[shah269 0]

Look you can trust them all you want.
And I'm sure the CEO of Marlboro has your best interests in mind when they advertise for you to pick up a cancer stick.

I on the other hand don't and after learning all i can for my MBA...don't. And it wasn't just me who felt this way. Not a single one of my professors felt that the banking industry was regulated nor "honest".

So i do what i can, and for me that's simply utilizing my credit union.

But that aside, maybe it would be a good idea to put to death those which have been named and convicted? After reading the article do you think Madoff feels any remorse for his actions? So will the next guy?

But that's not for me to judge, i'll be honest with you...i no longer really care. The system is broken and it will not improve in my life time no matter who is president.

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!

[kelpdiver 2]

you miss the point - it's not about trust, it's about verification. I know exactly what happens with my money. You continue to pretend that it's out of your hands and the evil bankers can skim at will. What did you get out of business school...I have no idea.

401ks are more limiting than IRAs - small employers pay higher fees, you can have limited choices. Sometimes that means it's better to put the money in your IRA instead, or to pressure the employer to improve it. As of this year, real cost information has to be provided - I got my notice last week. Read it. Whine less.

If you're nearly as smart as you think you are, you should be doing fine. But rather than learn from your past fuckups, you prefer to complain that the system is rigged.

[shah269 0]

verification
I thought the industry verified it self? And self regulated?

Oh well why waste energy talking or even worrying about it

Life through good thoughts, good words, and good deeds is necessary to ensure happiness and to keep chaos at bay.

The only thing that falls from the sky is birdshit and fools!