Of Heroes and Whores

This toxic culture has seeped into and infected just about every other market too. Senior Executives seem to be bent on making a fast buck and get out as quickly as possible. Their decisions do not seem to be in the best interest of the companies which employ them or their customers. What I don't understand is the collusion of Politicians and Regulators!

The article below perhaps looks at some reasons, which I think makes the Global Economy rather bleak.
Heroes and Whores[1][2]
In our warped financial markets, the overriding culture glorifies wealthy arrogant criminal assholes, while ignoring or ridiculing honest, hard working, highly intelligent truth tellers.
"Certainly one of the most important things I learned is that numbers can be deceiving. There is a logic to mathematics, but there is also the underlying human element that must be considered. Numbers can't lie, but the people who create those numbers can and do. As so many people have learned, forgetting to include human nature in an equation can be devastating." Harry Markopolos, No One Would Listen.

He was ignored because he was a nobody in the view of SEC Wall Street wannabes.

The truth is the low IQ flunkies at the SEC had one goal in life – get high paying jobs on Wall Street with the firms they were supposed to regulate. Actually enforcing securities laws and holding bankers accountable for their criminal activities would limit their career advancement possibilities. Therefore, they pretend to regulate the financial industry and the financial industry pretends to obey the laws. The SEC apparatchiks Markopolos dealt with were nothing more than cheap whores looking for their chance at a sugar daddy Wall Street gig.

This was another example of Buffet's witty quote, "You never know who's swimming naked until the tide goes out". Madoff's ponzi never passed the smell test.

Executives at JP Morgan and numerous other Wall Street firms knew Madoff's fund wasn't above board, but being nothing but greedy immoral whores, they loved the millions in fees generated by all his fake trades, and pretended he was just a brilliant money manager who never had a down month. Just like our current ponzi financial markets, built on trillions of debt, all ponzi schemes ultimately collapse due to running our of suckers. It's always a matter of time.
"Ponzi schemes exist in stable disequilibrium. This means that while they can't ultimately succeed, they can persist indefinitely — until they don't." Harry Markopolos, No One Would Listen

This is considered justice in a crony capitalist society controlled by a small cabal of wealthy financiers and corporate goliaths.
"Remember when nurses, caregivers, teachers and students crashed the stock market, wiped out banks, took billions in bonuses and paid no tax? No, me neither." Fuad Alakbarov

The past couple weeks has been a never ending orgy of accolades for the Wall Street whores who "Saved the World" in 2008/2009.

Wall Street scum who continue to foul this earth with their mere presence.


[1] Rigged Game: Heroes and Whores
[2] Burning Platform: Heroes and Whores

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