More Regulatory Shakedown and Extortion - Some Believe So
When Elliot Spitzer was a prosecutor and attorneys general in New York, he was criticized at the time for using extortion type techniques to shake down corporate America.
After he became governor and then fell from grace due to his extra-curricular activities more and more of what transpired came out.
He and his legal team had purposely gone after some of the biggest names on Wall Street, often on a fishing expeditions, threatening to widen investigations unless they settled and acquiesced to his demands, admonishments, and heavy multimillion dollar fines.
Also at the time he made the SEC (Securities Exchange Commission) look very weak, as he was bold an aggressive and the SEC was not, of course, one could argue that Elliot Spitzer's team of lawyers had shallow cases, but no company can afford to have their brand name drug through the mud for years during litigation, it was cheaper just to pay the fine, discharge the investigation and move on, looking at the near-extortion strategies as well; a cost of doing business.
Today, we see a similar strategy at the SEC and this is quite troubling, especially with all the Obama Administration class warfare.
There was an interesting article in the Los Angeles Times, reprinted in the Mercury News on October 23, 2013 titled; "Bank of America loses civil fraud suit over bad mortgages," by Andrew Tangel, and all this days after the record braking fine and settlement with JP Morgan and the SEC (Securities and Exchange Commission).
This regulatory on-going shake-down is something out of Ayn Rand - first the FED and treasury practically makes B of A (Bank of America) purchase Countrywide from Mozillo, then they go after bad loans later - amazing extortion of our banks, not that our banks are making loans worth a damn - more making money on HF-trading.
It's as if there is an orchestrated effort to keep the US down - it won't work, Americans will fight on and in doing so make the banks and government irrelevant - look at crowd funding, look at the centralized government that can't even roll out a website (ObamaCare) correctly after spending $292 million to make the "website" ouch.
They can't do anything right in my view - it's crisis driven crony capitalism - it was predicted.
By whom you ask, well by everyone who is anyone really, anyone who understands governance, human nature and free market capitalism that.
We can't save free market capitalism through regulatory extortion, of course, I wonder if those who are out for blood aren't more interested in destroying free market capitalism for their version of some grandiose version of a socialist utopia - trust me it won't work.
You cannot have freedom without free markets and Americans like their freedom and liberty very much.
Please consider that.
After he became governor and then fell from grace due to his extra-curricular activities more and more of what transpired came out.
He and his legal team had purposely gone after some of the biggest names on Wall Street, often on a fishing expeditions, threatening to widen investigations unless they settled and acquiesced to his demands, admonishments, and heavy multimillion dollar fines.
Also at the time he made the SEC (Securities Exchange Commission) look very weak, as he was bold an aggressive and the SEC was not, of course, one could argue that Elliot Spitzer's team of lawyers had shallow cases, but no company can afford to have their brand name drug through the mud for years during litigation, it was cheaper just to pay the fine, discharge the investigation and move on, looking at the near-extortion strategies as well; a cost of doing business.
Today, we see a similar strategy at the SEC and this is quite troubling, especially with all the Obama Administration class warfare.
There was an interesting article in the Los Angeles Times, reprinted in the Mercury News on October 23, 2013 titled; "Bank of America loses civil fraud suit over bad mortgages," by Andrew Tangel, and all this days after the record braking fine and settlement with JP Morgan and the SEC (Securities and Exchange Commission).
This regulatory on-going shake-down is something out of Ayn Rand - first the FED and treasury practically makes B of A (Bank of America) purchase Countrywide from Mozillo, then they go after bad loans later - amazing extortion of our banks, not that our banks are making loans worth a damn - more making money on HF-trading.
It's as if there is an orchestrated effort to keep the US down - it won't work, Americans will fight on and in doing so make the banks and government irrelevant - look at crowd funding, look at the centralized government that can't even roll out a website (ObamaCare) correctly after spending $292 million to make the "website" ouch.
They can't do anything right in my view - it's crisis driven crony capitalism - it was predicted.
By whom you ask, well by everyone who is anyone really, anyone who understands governance, human nature and free market capitalism that.
We can't save free market capitalism through regulatory extortion, of course, I wonder if those who are out for blood aren't more interested in destroying free market capitalism for their version of some grandiose version of a socialist utopia - trust me it won't work.
You cannot have freedom without free markets and Americans like their freedom and liberty very much.
Please consider that.
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