WarrenJ Posted February 10, 2009 Report Share Posted February 10, 2009 "The law may not change the heart, but it can restrain the heartless." -- Martin Luther King "For years now, heartless people have been running many of our world's banks and investment houses, and our laws have been insufficient to restrain them. Boards of directors, CEOs, and their leadership teams created incentive systems that rewarded self-interest, impatience, and bottomless greed. That's a deadly three-punch combo that can flatten employees, customers, and shareholders alike. And it has. So we should not be surprised to find that even as banks have toppled, even as tens of thousands of workers have lost their jobs, even as shareholders have been wiped out, and even as taxpayers are on the hook for trillions via future higher taxes or hyperinflation, the "leaders" of these organizations have continued to pay themselves obscenely. How obscenely? Despite losing $35 billion in 2008, Wall Street firms paid out $18 billion in cash bonuses! Specific examples are more enlightening still..." http://www.fool.com/investing/general/2009...go-to-jail.aspx ********************************************************* Call me mad in whatever context you wish; just be certain I am MAD! --WarrenJ There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Marika Posted February 10, 2009 Report Share Posted February 10, 2009 "The law may not change the heart, but it can restrain the heartless." -- Martin Luther King --WarrenJ I hate to disappoint Martin Luther but when the laws written to restrain the heartless are written by the heartless, you end up with exactly what we have in this country. If you really want to make people safe drivers again then simply remove all the safety features from cars. No more seat belts, ABS brakes, traction control, air bags or stability control. No more anything. You'll see how quickly people will slow down and once again learn to drive like "normal" humans. Link to comment Share on other sites More sharing options...
WarrenJ Posted February 10, 2009 Author Report Share Posted February 10, 2009 I hate to disappoint Martin Luther but when the laws written to restrain the heartless are written by the heartless, you end up with exactly what we have in this country. A point well taken, but it might be best to forgo a religious discussion here. At least that's what I assume you meant to imply. Of course, I might have inferred what you did not mean to imply. Regards, Warren There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved. - Ludwig von Mises Link to comment Share on other sites More sharing options...
Marika Posted February 10, 2009 Report Share Posted February 10, 2009 I hate to disappoint Martin Luther but when the laws written to restrain the heartless are written by the heartless, you end up with exactly what we have in this country. A point well taken, but it might be best to forgo a religious discussion here. At least that's what I assume you meant to imply. Of course, I might have inferred what you did not mean to imply. Regards, Warren What I was saying was this: When laws written to restrain corrupt businessmen are written by corrupt politicians you end up with exactly what we have in this country. If you really want to make people safe drivers again then simply remove all the safety features from cars. No more seat belts, ABS brakes, traction control, air bags or stability control. No more anything. You'll see how quickly people will slow down and once again learn to drive like "normal" humans. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.