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Vietnam Shows How To Clean Up The Banking System: Ex-Banker Faces Death Penalty For Fraud

Tyler Durden's picture


The lack of prosecution of bankers responsible for the great financial collapse has been a hotly debated topic over the years, leading to the coinage of such terms as "Too Big To Prosecute", the termination of at least one corrupt DOJ official, the revelation that Eric Holder is the most useless Attorney General in history, and even members of the judicial bashing other members of the judicial such as in last night's essay by district judge Jed Rakoff. And naturally, the lack of incentives that punish cheating and fraud, is one of the main reasons why such fraud will not only continue but get bigger and bigger, until once again, the entire system crashes under the weight of all the corruption and all the Fed-driven malinvestment. But what can be done? In this case, Vietnam may have just shown America the way - use the death penalty on convicted embezzling bankers. Because if one wants to promptly stop an end to financial crime, there is nothing quite like the fear of death to halt it.

Bloomberg reports that a Vietnam court will consider the death penalty for a Vu Quoc Hao, the former general director of Agribank Financial Leasing Co. who is charged with embezzling 531 billion dong. While that sounds like a whole lot of dong, converted into USD it is only $25 million, or what Goldman would call "weekend lunch money." Just imagine how much cleaner Wall Street would be, where the typical bank fraud is generally in the billions, if bankers and other white collar criminals had the fear of death if caught manipulating petty prices or outright stealing amounts that are considered petty cash by most of the 0.001%.

But back to Vietnam and its shining example:

The trial comes as the government seeks to shore up Vietnamese banks saddled with Southeast Asia’s highest rate of bad debt and turn around an economy that grew last year at the slowest pace since 1999. The central bank governor vowed to crack down on violations by groups of shareholders working against banking reforms last year.


Eleven defendants, including Hao, 58, and Hai, are charged with embezzlement, mismanagement, abuse of power and fraud, according to a statement on the court’s website. Prosecutors allege that Hao and Hai formed 10 fake financial leasing contracts to disperse almost 800 billion dong.


At the trial yesterday, Hao said he regrets his violations and hopes the judges will give other defendants lighter sentences, Tuoi Tre newspaper reported today. The verdict and sentencing is expected to be announced Nov. 15, according to the newspaper.


Under Vietnam law, those convicted of embezzling property valued at 500 million dong or more, or creating “other particularly serious consequences,” can be sentenced to life imprisonment or death.


“The party, the government, prosecutors and our courts will give stiff verdicts in these types of cases,” Deputy Prime Minister Nguyen Xuan Phuc, said on the sidelines of an anti-corruption conference in Hanoi yesterday. “We need to make our regulations and legal framework tighter to reduce and prevent corruption.”


“It would be a signal: You could be executed for being caught doing large-scale corruption,” said Adam McCarty, the Hanoi-based chief economist at Mekong Economics. “It has implications for the whole bank restructuring the government is about to do. They want to really dig into these bad debt issues and find out who is responsible for the problems.”

And while one can dream, an outcome such as this in the US is impossible: after all it is these same embezzling bankers that control the legislative and judicial branches (the executive branch is too busy with 404 website errors), which is why deterrence of any substantial scale will never take place in the US and small, medium and large-scale theft will continue unabated, with the occasional slaps on the wrist, until there is nothing left to steal.


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Wed, 11/13/2013 - 09:11 | 4149326 ziggy59
ziggy59's picture

We're gonna need a shitload of gallows!

Wed, 11/13/2013 - 09:15 | 4149341 max2205
max2205's picture

They should have given mula to the govt to avoid prosecution. ...thats how we do it here in the ussa

Wed, 11/13/2013 - 09:20 | 4149357 krispkritter
krispkritter's picture

Vu Fuk Hu? Nguyen Xuan Phuc Yu...

Wed, 11/13/2013 - 09:31 | 4149399 aint no fortuna...
aint no fortunate son's picture

Deputy Prime Minister Phuc say stiff outcome for stolen dongs

Wed, 11/13/2013 - 09:46 | 4149462 akarc
akarc's picture

wait till they hit the black market.

Wed, 11/13/2013 - 09:49 | 4149473 SilverIsKing
SilverIsKing's picture

A death penalty for financial crimes in the US would amount to a bunch of two bit penny stock fraudsters getting the rope while the real criminals continue to rape and pillage the taxpayers.

Wed, 11/13/2013 - 10:47 | 4149684 johnQpublic
johnQpublic's picture

OJ simpson was ordered to pay 12 million plus for the murder of a white woman(in civil court after prosecutors embarrassed themselves in the criminal trial)

we can therefore equate the crime of murder in the highest degree to the theft of 12 million dollars or more

so therefore, theft of 12 million or more should be eligible for the same punishments as murder of a white woman by a black man(the worst kind of murder if you take history as an example)

the worst of these punishments being the death penalty for premeditated murder/theft

Wed, 11/13/2013 - 12:09 | 4150036 smlbizman
smlbizman's picture

im turning vietnamese turning vietnamese...and i think so...

Wed, 11/13/2013 - 09:55 | 4149500 Headbanger
Headbanger's picture

Video of execution in Vietnam:

It's the old French style shooting execution.  Not sure if they broadcast these but it sure would help deter the shit ruining this country.

Wed, 11/13/2013 - 10:20 | 4149581 Muddy1
Muddy1's picture


Is that Vietnamese for Jon Corzine or Jamie Dimon?

Wed, 11/13/2013 - 09:29 | 4149360 AlaricBalth
AlaricBalth's picture

And Hungary rid themselves of its central bank. "According to a report on the German-language website “National Journal,” Orbán has now moved to unseat the usurers from their throne. The popular, nationalistic prime minister told the IMF that Hungary neither wants nor needs further “assistance” from that proxy of the Rothschild-owned Federal Reserve Bank. No longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers. Instead, the Hungarian government has assumed sovereignty over its own currency and now issues money debt free, as it is needed. The results have been nothing short of remarkable. The nation’s economy, formerly staggering under deep indebtedness, has recovered rapidly and by means not seen since National Socialist Germany." August 2013

And the ECB's response: FRANKFURT (Reuters) Oct 9, 2013 - The European Central Bank has warned Hungary against tampering with central bank independence and pushed it to take the ECB's opinions more seriously. 

Wed, 11/13/2013 - 09:30 | 4149391 DigDeepDown
DigDeepDown's picture

Wow did that truly happen? Inspirational.. too bad we're stuck with not having our own currency (per country) in Europe :(

Wed, 11/13/2013 - 09:39 | 4149436 AlaricBalth
AlaricBalth's picture

You won't be hearing about this from the MSM

Hungary Sheds Banker Shackles


ZH started covering last year.

Wed, 11/13/2013 - 10:02 | 4149524 Oldwood
Oldwood's picture

But that is because their banks and thereby bankers were not too big to fail. Ours on the other hand, are far too important to the survival of our "system" of theft and debt slavery. Forward I say! Progress towards the inevitable!

Wed, 11/13/2013 - 17:48 | 4151830 layman_please
layman_please's picture


Wed, 11/13/2013 - 09:19 | 4149355 Againstthelie
Againstthelie's picture

Libertarians, if you want justice, you need a strong state, and not confuse a BUSINESS being camouflaged as state.

Wed, 11/13/2013 - 09:31 | 4149366 krispkritter
krispkritter's picture

Hang'em! Hao Hai? Edzacry!

Wed, 11/13/2013 - 09:28 | 4149385 GMadScientist
GMadScientist's picture

one airtight room

Wed, 11/13/2013 - 09:43 | 4149447 Zadok
Zadok's picture

Whodathunkit...merely executing the rule of lawful law (as opposed to illegal law) would stop fraud and almost all of the associated pain for the unguilty.
Cool, let's get it on!

Wed, 11/13/2013 - 10:02 | 4149525 centerline
centerline's picture

No shit.

America has been hijacked.  Plain and simple.  Corruption has always been around.  Now it is the status quo.  Rule of law is dead and buried.

Wed, 11/13/2013 - 09:52 | 4149481 exi1ed0ne
exi1ed0ne's picture

While emotionally satisfying to the victim, executions don't actually prevent crime for a few reasons:

1) The perp always thinks they will get away with it

2) The Corzone factor - laws are for peasants to keep them in line

I'd be much happier with tearing down the shit house and making those fuckers work at McD's for the rest of their lives.  There is no hell worse then losing your wealth and status.  I don't need them dead, although years of suffering and social stigma would fit the bill nicely.

Wed, 11/13/2013 - 10:19 | 4149577 Oldwood
Oldwood's picture

True enough, but the best part of justice is revenge, yes?

And its always different THIS time. Parents try to explain to their children the hazards of life, yet the children ALWAYS think they or this time will be different. This is because history tells us largely that to do what we WANT to do, is usually the worse course of action, so we spend a huge amount of time rationailizing why this time or I am different and the rules of the past do not apply. This mentality goes from bottom to top of society. Ideologues convinced that ideologies, that have been tried and failed to the tune of millions dying, can be successfully acomplished this time because we are more modern, with technology and its just different this time. We can drink and drive becasue we are different or better, we can smoke like a brush fire without fear becasue we are different or better. It is a symptom of our stupidity and arrogance that we refuse to learn. And fuck equality. No one wants equality when they ALL think they are smarter, more enlightened and just plain better than everyone else.

Wed, 11/13/2013 - 11:18 | 4149819 exi1ed0ne
exi1ed0ne's picture

It's all about spending the energy that will maximize the benefit.  Focus on revenge or rebuilding the structure to make the same corruptions harder? 

Plus executions can get out of hand and deliver more power to those who shouldn't have it.  See the French Revolution and la Terreur.

Wed, 11/13/2013 - 12:16 | 4150079 odatruf
odatruf's picture

There is a lot to recommend from the French Revolution and la Terreur.

Wed, 11/13/2013 - 20:31 | 4152397 Promethus
Promethus's picture

I blame the politicians who sold out this country to the bankers. Hang them. As for the bankers RICO their assets and reem their asses.  Take away all their money, their pensions, their homes, their cars, gifts to their children, girlfriends, donations to their BS charities, their crap art, any item of clothing over $25.  Leave them nothing but their trophy wives to share their SS check with.

Wed, 11/13/2013 - 10:25 | 4149601 fooshorter
fooshorter's picture

Roll out the mother fucking gulotines baby! 

Wed, 11/13/2013 - 11:39 | 4149917 Mesquite
Mesquite's picture

All 30,000 of them...??

Wed, 11/13/2013 - 11:55 | 4149972 NewAmericaNow
NewAmericaNow's picture

Let's see....People want governmnet to do something about Bankers and rich people gaming the system and it's laws. People elect rich people into office to govern the rich people. Did I miss something here or does this sound about right? People! you will never have freedom if you empower others to bully people because eventually they will bully you out of your freedom. When the people fear the govt there is tyranny, when the govt fears the people their is liberty

Wed, 11/13/2013 - 13:58 | 4150633 Mr Kurtz
Mr Kurtz's picture

It is terrible to contemplate how few politicians are hanged. ~ G. K. Chesterton 


Wed, 11/13/2013 - 11:56 | 4149973 NewAmericaNow
NewAmericaNow's picture


Wed, 11/13/2013 - 12:27 | 4150134 piceridu
piceridu's picture

US Treasury rates, LIBOR, Gold and Silver, HFT, Congressional Insider Trading, Mayors and City Counsels,  etc, etc...the list is endless. Are there enough trees?

Wed, 11/13/2013 - 09:14 | 4149327 GetZeeGold
GetZeeGold's picture



Death sentences......that just might work!


We could just use drones and skip the lengthy and costly trials....we have the technology!

Wed, 11/13/2013 - 09:28 | 4149383 101 years and c...
101 years and counting's picture

Ok.  Make death a viable option.  You'd still need to find someone at DOJ/SEC/FBI with enough balls to fight the bribed Congress and actually prosecute any of the filth on Wall St, or any other TBTF criminal syndicate.

Wed, 11/13/2013 - 09:38 | 4149432 y3maxx
y3maxx's picture

Our abused Vets may come to the rescue....

25 Signs That Military Veterans Are Being Treated Like Absolute Trash Under The Obama Administration...

Wed, 11/13/2013 - 09:45 | 4149455 akarc
akarc's picture

Been going on since the birth of the nation. Tell me, whats changed.'_Rebellion

Hope ya didn't buy the book

Wed, 11/13/2013 - 09:41 | 4149444 akarc
akarc's picture

Yepper and that ain't gonna happen.

Wed, 11/13/2013 - 09:28 | 4149384 Dr. No
Dr. No's picture

Who needs technology when we have their home addresses?

Wed, 11/13/2013 - 09:29 | 4149390 GMadScientist
GMadScientist's picture

Meaning former home addresses.

Wed, 11/13/2013 - 09:47 | 4149418 y3maxx
y3maxx's picture

"If You have Your Gallows, You can keep Your Gallows." "We Built That" "Proof, Bipartisan Cooperation works". Golfer Community Leader of the USSA

Wed, 11/13/2013 - 12:35 | 4150177 Jumbotron
Jumbotron's picture

Throw them in a pit of shit covered punji sticks.

Wed, 11/13/2013 - 09:11 | 4149329 Olephant
Olephant's picture

Personally I am against the death panalty. But a decent sentence for defrauding the people of the world would be at least 20 years in jail if not more. We have to protect our society from these monsters somehow.

Wed, 11/13/2013 - 09:16 | 4149346 Ruffcut
Ruffcut's picture

You can be against anything you want, as long as you don't expect me to pay for housing the bunch of fuktard killers and criminals.

Wed, 11/13/2013 - 09:24 | 4149349 RaceToTheBottom
RaceToTheBottom's picture

Have you heard about how ex GS Raj is living in jail?

He has chefs come in and cook gourmet meals for him.

Sorry, gotta go with the death penalty.  Salt & Lime the ground above his grave

Wed, 11/13/2013 - 09:19 | 4149352 unplugged
unplugged's picture

Ok, how about a compromise then: let them get bloody ass raped in jail everyday by Bubba until they bleed to death

Wed, 11/13/2013 - 09:20 | 4149358 Bearwagon
Bearwagon's picture

I agree. But maybe we look at the situation from a wrong perspective. What if these peole are not criminals, but extremely ill? They would need healing, that's clear - but what are we ought to do, if we cannot help them, but have to contain the disease? We could have to get back to killing them, if all other measures fail.
Personally I think that could be avoided - but I could be mistaken ...

Wed, 11/13/2013 - 09:26 | 4149378 RaceToTheBottom
RaceToTheBottom's picture

Obviously that illness is a contagious disease, gauging by the way in which it is running through WS and CEO offices around the country.

Extermination is the only safe way.

Leave no one behind

Wed, 11/13/2013 - 09:36 | 4149420 dontgoforit
dontgoforit's picture

Unfortunately they would be quickly replaced by those who would do the same.  Nature abhors a vacuum; government abhors nature.

Wed, 11/13/2013 - 09:42 | 4149439 RaceToTheBottom
RaceToTheBottom's picture

Yep, it may take years to cure the disease, the moral depravity. 

But it is a task we must undertake, if only for the children.....

Wed, 11/13/2013 - 12:19 | 4150096 odatruf
odatruf's picture


It really isn't the bankers and politicians who deserve the blame and scorn.

It's us who give these scorpions a ride and expect a different outcome than we get. And if you don't think this applies to you, then by all means please tell us how you've gotten around supporting and enforcing the status quo.


Wed, 11/13/2013 - 10:32 | 4149636 withglee
withglee's picture

You don't just get an illness when you arrive at the top. You have to have the illness to get to the top.

Wed, 11/13/2013 - 09:24 | 4149371 Urban Redneck
Urban Redneck's picture

With the death penalty, they get 20 years in a private cell and maximum security from other inmates.

Sentence them to life (until death) in GENERAL POPULATION of a (more than minimum security and less than supermax) prison.

Wed, 11/13/2013 - 14:59 | 4150977 Nostradalus
Nostradalus's picture

i say put them into a cell and check back on them in 30 days. simple.

Wed, 11/13/2013 - 09:25 | 4149375 RSloane
RSloane's picture

I also have a very hard time with the death penalty. Having said that, what is the appropriate punishment for people who have deliberately perpetuated a bifurcated economy to their benefit  and engineered a significant reduction in the quality of life for millions of Americans?

Wed, 11/13/2013 - 09:31 | 4149400 unplugged
unplugged's picture

let them get bloody ass raped in jail everyday by Bubba until they bleed to death (see below)

Wed, 11/13/2013 - 09:41 | 4149443 Olephant
Olephant's picture

Well as said removing them from active society to protect our society would work best imo. Seeing the severity of the damage these criminals have done I would think starting out with a base 20 years of prison would be sufficient. Single cells preffered and a diminished amount of communication with the outiside world.

The reason I am not for a death sentence is mostly because we could be wrong and sometimes we throw innocent people in jail. And killing innocent people is not something that would help anybody at all.

Wed, 11/13/2013 - 10:39 | 4149659 new game
new game's picture

what about the millions of innocents already paying countless costs including death?

Wed, 11/13/2013 - 10:22 | 4149590 Zadig
Zadig's picture

They can compensate society by doing dangerous jobs, or just menial shit work, for the rest of their lives.  Watching them trying to climb cell phone towers or working the local drive through forever would be entertaining for us and humiliating, and quite possibly lethal, for them.  That's a win-win in my book.

Wed, 11/13/2013 - 10:22 | 4149594 Oldwood
Oldwood's picture

Punishment? These people are to be cherished for they are the heart and soul of our very prosperity, for we know what is good for GS and JPM is good for America! Just as Bernanke and the other gods of finance. They will tell you. Makes me want to puke. They are already being punished, forced to live in those ivory towers.

Wed, 11/13/2013 - 10:33 | 4149643 Max Cynical
Max Cynical's picture

Olephant, how about we keep them in jail as long as people like you want to voluntarily pay to house them...when the money runs out, they get the firing squad. Would that make you feel better? I'll bet there wouldn't be enough "donations" to keep them alive for a week.

Wed, 11/13/2013 - 09:16 | 4149330 Hooter Shaker
Hooter Shaker's picture

Death by LONG DONG!

Wed, 11/13/2013 - 09:12 | 4149331 Ruffcut
Ruffcut's picture

Two many bankers and too little time

Wed, 11/13/2013 - 09:12 | 4149332 redd_green
redd_green's picture

531 billion dong?  THat's a long dong.

Wed, 11/13/2013 - 09:13 | 4149335 Bioscale
Bioscale's picture

Fraud is called economic policy which is designed by economic theories demanded by FED and government. What charges?

Wed, 11/13/2013 - 09:15 | 4149343 RaceToTheBottom
RaceToTheBottom's picture

I would love for that to be a real possibility in the US.


Wed, 11/13/2013 - 09:17 | 4149348 Racer
Racer's picture

I want to emigrate to Vietnam!

Wed, 11/13/2013 - 09:30 | 4149392 Urban Redneck
Urban Redneck's picture

No you don't, that's where the Chinese industrialists outsource labor to when they get sick of the uppity, fat, overpaid, lazy Chinese laborers/useless eaters.

That and I'm guessing they found the one senior banker in all Vietnam who didn't have a brother or other close relative in a senior position of Government who could just make the problem "disappear"

Wed, 11/13/2013 - 10:25 | 4149603 Oldwood
Oldwood's picture

And I wonder how tolerant they would be of corrupt American politicians who awarded them most favored nation trading status? Criminality is not a moral issue until they are stealing from YOUR pocket.

Wed, 11/13/2013 - 14:01 | 4150656 Mr Kurtz
Mr Kurtz's picture

 It is terrible to contemplate how few politicians are hanged. ~ G. K. Chesterson 


Wed, 11/13/2013 - 09:19 | 4149353 6th of May
6th of May's picture

That's the spirit!!!

Ki** these fu**ers! O:)

Wed, 11/13/2013 - 09:22 | 4149361 hugovanderbubble
hugovanderbubble's picture

Imagine GS xd:)

Wed, 11/13/2013 - 09:22 | 4149362 g speed
g speed's picture

vigilante justice is just around the corner---start with the AG.  

Wed, 11/13/2013 - 09:22 | 4149363 mrdenis
mrdenis's picture

But  ( honorable) Corzine insist he dosen't know where the money is ...........

Wed, 11/13/2013 - 09:23 | 4149364 youngman
youngman's picture

Lets start with anyone selling synthetic derivatives.....who needs those

Wed, 11/13/2013 - 09:25 | 4149374 overmedicatedun...
overmedicatedundersexed's picture

judge rakoff:" this is a mis carrage of justice, why bankers never ment to hurt anybody, it's impossible to provide evidence he just wanted to commit a crime, no mere judge can rule since the laws as written are ment to avoid this outcome." 

Wed, 11/13/2013 - 09:26 | 4149377 LetThemEatRand
LetThemEatRand's picture

To me, the appropriate sentence for banker crimes is to divest them of all their wealth and give them a life sentence as door greeter at Wal-Mart.  They can learn all about how to apply for an EBT card, how to seek medical assistance using Walmart insurance and Medicaid, etc.  I would even start shopping at Walmart again (going on 10 years since I stepped foot in one).

Wed, 11/13/2013 - 09:30 | 4149396 GMadScientist
GMadScientist's picture

I do not want them killed. I want them doing pointless menial labor with no renumeration for ungrateful assholes. An eye for an eye.

Wed, 11/13/2013 - 09:38 | 4149433 d edwards
d edwards's picture

If it's good enough for crooked businessmen, it's good enough for corrupt lying politicos who perpetrate a massive FRAUD on the American people.


If you like your plan you can keep your plan.

If you like your doctor you can keep your doctor.

I will save the average family $2500 a year.



Wed, 11/13/2013 - 09:37 | 4149428 Big Johnson
Big Johnson's picture

Roll out tha gallows

Wed, 11/13/2013 - 09:44 | 4149454 kralizec
kralizec's picture

Got more heads than gallows...we're gonna need a shitload of lumber!

Wed, 11/13/2013 - 09:47 | 4149461 Big Johnson
Big Johnson's picture

Perhaps China style is more appropriate. Bullets are cheaper and more efficient.

Wed, 11/13/2013 - 09:55 | 4149499 Rakshas
Rakshas's picture

I kind of agree but oh my god they should not be using hollowpoints if they're going to shoot them in the back of the head that is just nasty, one to the base of the neck is all that is needed using FMJ - somebody sent me pictures of "convicts" done in - i nearly puked really really no need 


Wed, 11/13/2013 - 09:45 | 4149456 Harry Dong
Harry Dong's picture

I approve this message

Wed, 11/13/2013 - 09:48 | 4149470 Big Johnson
Big Johnson's picture

With a last name like that you'd do just fine in the Nam

Wed, 11/13/2013 - 09:49 | 4149475 Rakshas
Rakshas's picture



Wed, 11/13/2013 - 09:51 | 4149479 yogibear
yogibear's picture

The US has forgot about jailing those responsible. 

How about we start off with Lloyd and Jamie? Then Bernanke and the rest of the 12 fed heads. Just so many criminals the gallows would be booked for months.

Wed, 11/13/2013 - 10:10 | 4149546 22winmag
22winmag's picture

Steal $100 go to jail. Steal $1,000 go to jail for a long time. Steal $1,000,000,000 become an unelected oligarch in Washington.

Wed, 11/13/2013 - 10:28 | 4149610 Seasmoke
Seasmoke's picture

You think it's easy to figure out how to steal $1Billion's hard work !

Wed, 11/13/2013 - 10:20 | 4149585 Evil Franklin
Evil Franklin's picture

The death penalty is a reasonable option considering how many peoples lives must have been stolen, how many people probably died due to this fraud.


Our own system needs to learn this lesson. 

Wed, 11/13/2013 - 10:33 | 4149641 Doubledown201_
Doubledown201_'s picture

These comments sometimes amaze me.  While I agree that justice is a good thing, isn't our justice system only as good as those overseeing it?  Can you tell me you honestly expect Obama and Holder to fairly and honestly prosecute crimes?  We're seeing Holder currently extort our financial institutions in return for a pass on prosecuting top management.  In a truly economic free world, I sincerely believe that the people would prosecute via their checkbooks... if you don't like what Dimon or other CEOs are doing, don't do business with them.  But once we've allowed these corporations to get in bed with the politicians (read Corzine) then we can't expect a fair justice system.  The only real solution is to let these fraudulent institutions fail, reduce the size of the gov't, and do some sort of regulating of donations to political campaigns.  Right now it seems like those going to jail are those that aren't paying off the right people.  

Wed, 11/13/2013 - 10:33 | 4149642 ronincap
ronincap's picture

Can we send Ben bernanke, Yellen and Evans plus Dimon and his buddies there?

Wed, 11/13/2013 - 10:35 | 4149648 Seasmoke
Seasmoke's picture

No need to kill........Just send them all back to Israel..

Wed, 11/13/2013 - 10:36 | 4149650 duhhhhhh
duhhhhhh's picture

No, its is exactly the rule of law that is alive and well here. It is the very manipulation of it coupled with no regard for common sense that has allowed what is happening to occur. Never forget to thank the attorneys for their role in this as well. Tacitus circa 190 ad ( a republic is most corrupt when its laws are at their most numerous) this is a very old lesson that quite obviously we have yet to learn.

Wed, 11/13/2013 - 13:06 | 4150372 moneybots
moneybots's picture

"Tacitus circa 190 ad ( a republic is most corrupt when its laws are at their most numerous) this is a very old lesson that quite obviously we have yet to learn."


We learned that already.  Greenspan learned at least back in the 1960's, that 1920's FED policy lead into the Great Depression.  He never forgot the lesson, doubling down on 1920's FED policy anyway.

Congress was warned what would happen if Glass Steagall was dismantled.  They dismantled Glass Steagall anyway.  The SEC knew leverage above 12 to 1 was dangerous and gave the investment banks leverage waivers anyway.


So let's stop the pretending that we still have a lesson to learn.  Greenspan took the lending standards to zero to deliberately create a housing bubble, not because he was stupid and didn't know any better.  The housing bubble occurred by design, not accident.  President Bush didn't just happen to come up with the Ownership Society program by coincidence, when Greenspan was creating a housing bubble.  It was deliberate, by design, not an accident.

Wed, 11/13/2013 - 14:39 | 4150872 duhhhhhh
duhhhhhh's picture

Obviously we didnt. The proof is in the pudding. Keep electing attorneys into political positions. How do you suppose glass stegal was over-stepped in the first placed. Legistlatively perhaps? A bunch of attorney lobbyist were hired by citi group and travelers ins during the clinton term to push through its merger and the remaining vestiges of glass stegal were obliderated. Travelers/citi group merger at the time was the largest in history. It also ushered in the derivatives era. Once the remaining barriers between ins, finance, and banking were dissolved the tbtf's were at liberty to have their attorneys concoct private off the books multilateral. contracts involving the once seperated diciplines to the toon of 634 trillion.

Wed, 11/13/2013 - 10:42 | 4149667 rsnoble
rsnoble's picture

In the US you could get the death penalty for mentioning such justice.

Wed, 11/13/2013 - 11:01 | 4149746 Lmo Mutton
Lmo Mutton's picture

I say we put them in radio controlled Mercedes that explode on impact with palm trees-but leave no marks on the trees.

Its the green thing to do and stuff.


Wed, 11/13/2013 - 11:43 | 4149932 iamtheeggman wh...
iamtheeggman whooooooooooooo's picture

Good Morning Vietnam!



Wed, 11/13/2013 - 12:04 | 4150016 tony wilson
tony wilson's picture

expect haarp weather attack soon.


you do not kill a rothschild owned banker and not feel pain.


a bbc fuck wit the other day told me that weather modification was possible in localised areas.

weather weapons talked about by tesla in the 1930s was the ravings of an old senile man.

weather weapons are not needed so how come this you fuckers.

Adopted by Resolution 31/72 of the United Nations General Assembly on 10 December 1976.

Wed, 11/13/2013 - 12:32 | 4150161 Joebloinvestor
Joebloinvestor's picture

I call BS.

Anyone remember the melamine in pet food?

The Chinease took two that were responsible and put a bullet in each of their heads in a public execution.

One month later they caught someone else doing the same shit.

Execution doesn't stop the practice, it just prevents the repeat offender.

Wed, 11/13/2013 - 12:47 | 4150246 moneybots
moneybots's picture

" ...the revelation that Eric Holder is the most useless Attorney General in history."


Useless to who?  Holder is a great benefit to a group of priviledged people.

Thu, 11/14/2013 - 09:11 | 4153478 rustymason
rustymason's picture

If we shot all the banksters in the U.S., we should also shoot their brothers in crime in Hollywood and the lamestream media.

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