an example of why unfettered markets dont work

Damocles said:
It wasn't effective and a ton of people made money, if it was cyber terror they'd talk about their huge success in stopping it. Instead it is more likely they are covering for somebody who did it on purpose and who gave them money for their campaign.
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I know what the fat fingered defense is , its the middle one pointed straight at the American people.
 
evince said:
http://www.msnbc.msn.com/id/37123241/ns/business-the_new_york_times

Prosecutor asks if banks duped rating agencies

The New York attorney general has started an investigation of eight banks to determine whether they provided misleading information to rating agencies in order to inflate the grades of certain mortgage securities, according to two people with knowledge of the investigation.
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This market is not unfettered. Not that the crimes would not occur if it were. This is proof that your regulations don't prevent crimes. It should not be expected too. The market answer is to punish the crooks not use their crimes as a call for more and more laws that they will just violate anyway.
 
I still think it was cyber terror.

I think if it was done for gain it would have been a little more artful.

It all was too obviously tanked in too short a time.

I think we better be on the lookout for electric grid attacks and the like.
 
RStringfield said:
This market is not unfettered. Not that the crimes would not occur if it were. This is proof that your regulations don't prevent crimes. It should not be expected too. The market answer is to punish the crooks not use their crimes as a call for more and more laws that they will just violate anyway.
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This is when the SEC was watching porn instead of doing their jobs. They were watching pron because someone told them NOT to do their jobs
 
evince said:
Oh thats right Obama is the new Clinton , I forgot.

Well its what we get for electiong a black man , hes going to take "the Man" down this time
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Once again the racist left brings up pigmenation. As if that is why people are upset.

Truly amazing how many closet racists there are on the left. Always talking about what color skin someone has. Clearly that is all they care about.
 
Superfreak said:
Once again the racist left brings up pigmenation. As if that is why people are upset.

Truly amazing how many closet racists there are on the left. Always talking about what color skin someone has. Clearly that is all they care about.
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It's like the Church calling "heretic" back in the day. It's just a way to attempt to stop people from talking about things they don't want them to talk about. If you criticize any of his policy, there you will find somebody attempting to call you a racist.

It's like Galileo, pointing out the truth and being labeled "heretic"...

Show me anybody criticizing the President's policy, and nearby you'll find somebody calling them a racist.

In the end, what that practice will do, is make it so that when actual racism is around nobody will be willing to listen to those calling out "racist"...
 
evince said:
I still think it was cyber terror.

I think if it was done for gain it would have been a little more artful.

It all was too obviously tanked in too short a time.

I think we better be on the lookout for electric grid attacks and the like.
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The reason I believe you are wrong is the FACT that a cyber terrorist would not have sent the market right back up. This was computer driven trading on both sides. It happened too fast for it to have been an attack and a response to an attack.
 
evince said:
This is when the SEC was watching porn instead of doing their jobs. They were watching pron because someone told them NOT to do their jobs
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1) ok... we get it... you are going to associate the people caught watching porn at the SEC with EVERYONE at the SEC

2) do show us your evidence that they were told not to do their jobs.
 
Superfreak said:
1) ok... we get it... you are going to associate the people caught watching porn at the SEC with EVERYONE at the SEC

2) do show us your evidence that they were told not to do their jobs.
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Lame, superfreak.

The fact that they watched porn all day and kept their jobs indicates a problem.
 
evince said:
Dude go look at the dates on those things
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DUDE... look at them yourself. The fraud on ALL of them (except Madoff) occurred predominantly in the late 90's during the insane run in tech/biotech/telecom.

but I know... you are going to post dates on when the fraud was announced and pretend that all the fraud occurred right then???
 
AssHatZombie said:
Lame, superfreak.

The fact that they watched porn all day and kept their jobs indicates a problem.
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I am all on board with the fact there is a major problem at the SEC, I was simply letting Desh know that it is absurd to suggest that everyone at the SEC was TOLD not to do their jobs and that they were ALL watching porn.
 
Superfreak said:
I am all on board with the fact there is a major problem at the SEC, I was simply letting Desh know that it is absurd to suggest that everyone at the SEC was TOLD not to do their jobs and that they were ALL watching porn.
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I think everyone working at the sec knows they're not supposed to blow the whistle, really. If you don't believe that, you're tripping.
 
evince said:
This is when the SEC was watching porn instead of doing their jobs. They were watching pron because someone told them NOT to do their jobs
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Oh that's right, because crime would disappear under a Democrat. I don't care who is in charge, there are crooked people in this world that are quite capable of evading the law. We can no more monitor every financial transaction than we can listen into every phone call or keep a watch on every street corner. There really is not any need to because though there are dishonest people most are at least decent people. Trying to monitor everything would just create information overload anyway.

Go after the crooks and make sure they are brought to justice.
 
Superfreak said:
They KNOW which firm triggered the slide last Thursday and they KNOW how much money that firm made. But they don't want to tell us because it would be yet another black eye for Wall Street.
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im inclined to think this is possible and even if its not and they have no idea what/who caused it I would say both options are very bad. I was just telling my father last weekend that I no longer have faith or trust the stock market.
 
This whole TYPE-O explanation was a total lie. I was watching CNBC the whole time it was happening and they were saying it was due to the computer programs running out of bids and then prices plummeting. So we've heard at least two lies now.
 
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