weekender

It is, they should have regulated it better. Without strong regulations you get what happened, teh banks will do anything to make more money. This includes telling their clients what a good investment something is, to drum up business, and then bet against their own clients. It is not a crime of any sort to short a security to a client that he was told to buy. I mentioned this in the past. you are confusing selling with marketing. the trader who shorts the security is soley providing liquidity. whether they think it goes up or down and if it goes up and down, has no bearing on anything. Market making is seperate from research. clients know that, regulators know that. politicians dont and lay people get confused. if it was the opposite i would be charged with a crime about every 6 minutes, hah. all markets have market makers. every market in the world trades this way. it really makes me sad to see the politicians twist the facts and spread falsehoods just for political gain. it ruins the confidence in the business and turns people against honest players. there is plenty wrong with the system, no need to make stuff up in addition. "The point is, I'm weird, but I never felt weird." John Frusciante

"While the department concluded that the burden of proof for a prosecution could not be met, "(it) commend(s) the hard work of those involved in preparing the report and thank the Senate's Permanent Subcomittee on Investigations for its cooperation in regard to the criminal investigation." There it is right there. The prosecutor's feel they might be guilty but cannot get a conviction. Now i have a simple suggestion. we arent going to convict anyone for what happened how about we re write the reg's to insure it doesnt happen again? Not some sweeping new bureaucracy or a bill that changes credit card laws. A very simple solution. The prosecutor’s in this case meet with the regulators and compliance chiefs from the bulge banks. They sit down and actually come up with laws and guidelines that can be applied to derivatives that protect a fair and orderly market but insure a prosecution in the event of a crime. It wont happen. The banks are fine with things as they are. When you can make a buck a round on a derivative why regulate yourself down to pennies like in stocks. The politicians wont because they don’t understand the market and don’t really care. They write laws to get elected not to help people. That is why derivatives are still widely unregulated but credit cards have their own agency to over see them. Credit cards have nothing to do with our banking problems. "The point is, I'm weird, but I never felt weird." John Frusciante

Guide lines help you dance around the rules. You know important ones like....don't launder money for terrorist nations right? Now as I said, if this you any one but a bank would they not have a visit in the middle of the night from some guys with very large guns? But since they are.....well what can you do right? You know what this reminds me of. Ever see that skit by Dave Chapel where they treated the local drug dealer as if he were a banker and treated the banker as if he were a local drug dealer! Look it up it's great! you dont get it or your a jerk who just doesnt want too. the laws are written by the gov't. in addition, the gov't allows the industry to create their own guidlines and/or rules which they, the gov't, will enforce in their courts. so the industry can create rules on top of laws. not rules to get around laws. how does what you say make any sense? really, think about it for a minute. the gov't allows a private organization to create its own laws? I'm going to repeat what ive said before. i feel sorry for you. "The point is, I'm weird, but I never felt weird." John Frusciante

>So why are these well educated well to do well connected individuals any different? Shouldn't they be treated as common criminals if found guilty of their actions? they are. ive given you examples of a few. ive asked you repeatedly to provide me examples of convicted banking criminals who went unpunished. you have not and yet keep repeating the falsehood that they all go unpunished. also, you show your ignorance repeatedly by stating things completely and factually incorrect about the industry. the rules are written by federal and local governments. there are books and books published by the SEC and individual states. Finra and the CTFC, for example, are authorized to regulate the industry in ADDITION to the gov't. the gov't has granted the industry the right to create and enforce their own guidelines industry wide. In addition to laws you must abide by industry rules that are binding in a court of law. you ignorantly believe they make and enforce their own rules. your wrong. you have strong opinions on topics you have no understanding of and it makes you look foolish. fyi, i only reply to your comments to help more reasonable people understand the industry. i know knowledge is lost on you. "The point is, I'm weird, but I never felt weird." John Frusciante

What do i think? i think you have a childish look on a large complicated industry. I think you dont listen to anyone who says anything that doesnt fit your thesis of bankers never get punished. i think if anyone, no matter how factual, counters your disjointed rambling, you just change subject. thats what i think. as to this case? i have no idea what the laws are but if they committed crimes i bet they will get punished. Criminals usually do. in my experience people who violate banking rules are punished quite harshly as they should. "The point is, I'm weird, but I never felt weird." John Frusciante

im not sure about loving big banks but pretty sure you see me as part of the evil shadow world that controls your future, so ill respond. If a crime was committed then all involved should be prosecuted to the full extent of the law. the shareholders are already being punished, so no need to address that. "The point is, I'm weird, but I never felt weird." John Frusciante

they are world class athletes that will have no problem finding a way to make a living. some might actually do quite well which means pay a fair amount of taxes. thats exactly who you want moving to your state, high earners. "The point is, I'm weird, but I never felt weird." John Frusciante

What does that have to do with anything we are discussing? i dont get it, just bragging? i dont know if that is a good interest rate. i paid cash for all three of my current cars. see, i can brag too Still waiting for you to give a few examples of all the convicted bankers who went unpunished you claim exist. "The point is, I'm weird, but I never felt weird." John Frusciante

>As for pointing out exactly who got away with it....well how would any one know right? After all they did after all get away with it with little to no issues. Do you not understand how silly that sounds? Classic conspiracy logic. The fact that you cannot provide any evidence to prove your theory is the proof of your theory. you are a sad angry young man. i am not angry at you, i feel sorry for you. you truly believe your future is in the hands of evil phantoms. Dont contribute to your 401k and put money in an IRA and direct it yourself. Or leave your money in your 401k in cash. those are two of an infinite amount of ways you can take control of your own financial future. it is truly sad that you believe you do not control your own life. I cannot even begin to imagine what it must be like to be you. "The point is, I'm weird, but I never felt weird." John Frusciante

married for 7yrs. dont have children. got married later in life. something tells me you are setting me up for an insult. i am anxiously waiting to see where you are going, hah "The point is, I'm weird, but I never felt weird." John Frusciante

we are all still waiting for you to provide just a few examples of people who committed bank fraud and got off with a light sentence. you have stated this numerous times how they go unpunished. if thats true, then it should be easy to come up with some examples of actual crimes being commited by actual people, actually getting away with it. you are long hyperbole and short facts. "The point is, I'm weird, but I never felt weird." John Frusciante

>"Without some form of spiritual enlightenment it is very difficult to rise above the problems of life." Thats complete crap. I am an atheist and famously happy. I was told as a young man to not look so happy at work because people will think im a slacker. I am happy because i embrace my insignificance. i do not feel the burden of living up to some mythical beings standards. i know that a 100 years from now, like almost everyone here, no one will ever know i even existed. it makes my life quite peaceful knowing that no matter how it goes it doesnt really matter. leaves nothing for me to do but enjoy it. if i must chose a label id say im an existentialist. my post is a bit simplistic of my views but pretty accurate to how i live and why i tend to not be bothered by alot. also, i am not a lazy hippy in case your wondering. i am an educated professional who enjoys a honest days work. i also am quite honest, hate adulterers and mean people. so without a god i somehow seem to live a moral life and rise above problems without the super natural. "The point is, I'm weird, but I never felt weird." John Frusciante

They are not in supermax, which would be a waste of money. you are right and i apoligize for using that term. i meant to imply they were doing real time in a real prison. I am not an expert on corrections and should not have used jargon i do not understand. im going to edit my post to be more clear. "The point is, I'm weird, but I never felt weird." John Frusciante

Ok, so you think Madoff has it easy because his life sentence gets him a bed and a doctor. Still doesnt change that he is in for life, something, you seem to believe doesnt happen. You failed to name a few people who got away with bank fraud. You clearly stated most get away with it, therefore, it should be easy to name just a few. Please name a few real people, who were convicted of a real bank crime and got away with a light sentence and kept all their money. "The point is, I'm weird, but I never felt weird." John Frusciante

please show me a few examples of how "most of these guys" who steal get off fairly easy. I am curious for an example of people convicted of stealing or i assume you mean bank fraud, getting off with all their money and little sentences. You seem to imply its quite common so please give me specific examples of real people. i ask because after 20 yrs in banking and seing numerous people caught i know of none that got of so easy. I am looking for real people, convicted of real crimes. Not something from your imagination or a story about a friend who works in banking....a real example of a real person convicted of a real bank crime not being punished. This should be easy for you since you keep repeating the same theme. You might not want to use Rajaratnam, Skilling, Madoff or Standford as examples. Because they are in super max prisons* and broke. But i know you wont because that would require you to use facts. * It was pointed out correctly they are not in a super max prison. I meant to imply they were in a real prison doing real time. I should not have use d term i do not understand. hope this is more clear as to my intent. "The point is, I'm weird, but I never felt weird." John Frusciante

part of the problem is the insurance companies are not allowed to structure policies so they are cheaper like they did in the past. States have ruled that they must cover things even if the customer doesnt want them. for example in NJ all policies must cover masage therapy, chiropractors and autism for children. I dont have children and dont want to ever visit the other two. It doesnt matter, i must pay for them because they must cover them. its the law. when i graduated college i bought a policy for 80USD a month. it had a very high deductible and only covered major medical problems. they dont offer those anymore in many states. "The point is, I'm weird, but I never felt weird." John Frusciante

I agree that it happens when the pressure is decreased. my point was you must first be saturated. in order to do that you must increase the partial pressures of the gases, like when scuba diving. going in a plane decreases pressure so breathing compressed air will not increase your risk of getting bent. my post might not have been that clear but i was responding to the other gentlemens comment and not discussing DCS in general. "The point is, I'm weird, but I never felt weird." John Frusciante

i thought you got bent because the partial pressures INCREASE. In this case they are decreasing. Am I wrong? As long as the plane does not fly at an altitude below sea level or above 1ATA, you should be fine i would think. Also, someone mentioned pure o2 and fire hazards. I'd agree with them on it being something a lay person should not be cavalier with. I've blended plenty of scuba tanks with pure o2 and was trained to be very careful for a reason. I've read and seen some scary accidents just putting on regulators or turning valves. Slow and gentle is good. "The point is, I'm weird, but I never felt weird." John Frusciante

Recently saw a newly qualified jumper take a bit of a rough landing, get dragged a little and have the harness MLW pull across his chest and rip his nipple bar right out. He was wearing a t-shirt and jumpsuit. To the OP, I'd wear the plaster (uk speak for band aid) if you're worried. wow, you have totally scared me. It never occured to me that could happen. maybe i'll put a band aid on. i say maybe because, who am i kidding, i will never remember. "The point is, I'm weird, but I never felt weird." John Frusciante

I think it goes deeper than politics with the financial industry. These crooks have basically got a gun to the head of the world's economy. Govt.s are scared to bring them down. they are not afraid they are smart. some banks are so big that they would cause more damage failing so they get bailed out and/or left alone. no bank should be too big to fail. its pretty simple actually and everyone knows it. the problem is, just like i said about regulations, the pol's are more concerned with elections then actually passing sound policy. both parties. "The point is, I'm weird, but I never felt weird." John Frusciante

I have had one piercing for longer than i have been jumping. in 430ish jumps i have never even noticed it. This is the first time i've ever even thought about it. I cannot imagine, as long as i am wearing a sleeved shirt, that anything could happen other than it getting rubbed. I imagine if i was an attractive girl i might wear something sleeveless but I'm not, so i dont. I'd like to hear how the women mentioned by another poster lost hers. I would very much like to avoid that. "The point is, I'm weird, but I never felt weird." John Frusciante

the problem is not new. the greater the temptation... we need more effective enforcement. i read that Peregrine was asked by the CTFC for bank records. they provided paper copies and it worked. these are the same people who monitored Corzine's firm. that is unnacceptable. FINRA demands electronic doc's that cannot be forged. Why is the CTFC so much more lax? I have no idea but the Federal Gov't should address that. Libor was a very simple act of collusion. the equity OTC markets were forced to stop that by the late 90's. FINRA demanded all markets were electronic and you could no longer communicate over phone. its hard to fix a market if you cannot talk to the other trader. i have no idea why they were permitted to do this in 2012. IMO, they need to get more serious about ALL the markets and regulate them like they do equities. Post your quotes on an electronic board somewhere. there has to be a way to do this even for derivatives. the pol's are more worried about sound bites than actual enforcement. who cares about credit card debit machines when people are fixing Libor rates. its a shame. "The point is, I'm weird, but I never felt weird." John Frusciante

I dont think the OP wants a real discussion but i will post for those more moderates out there who read these threads. from the article, "The survey reveals that a third of them feel pressure through bonus or compensation plans to violate the law or engage in unethical conduct. Only a quarter have faith that they will be protected if they blow the whistle on wrongdoing." the pressure to perform is hard for many to understand. no matter how long you have been employeed, if you dont meet your numbers you are let go. its that simple. sometimes you are let go because you pose a trading risk. I personally have had to let employee's go because i could no longer trust them after years of good service. Divorce, adultry, gambling debts or just poor performance. You can tell the signs and its not worth taking a risk on them. its a great lifestyle and people dont want to lose it. some will do anything to keep their numbers up. there is outsized money at stake and it creates an outsized temptation to be immoral. More effective regulation is what is needed. the CTFC has proven to be a failure at it, IMO. FINRA is much better. "The point is, I'm weird, but I never felt weird." John Frusciante

Have you read up on her at all? Not exactly a straight forward 5 star review of her past.... neither of those women are new to me. ive followed Google from the day it went public. Its part of my job. i find them both very impressive and quite successful by almost any measure. "The point is, I'm weird, but I never felt weird." John Frusciante

one of the two most attractive women in the world if you ask me. Sheryl Sandberg being the second. Google is the the new GE when it comes to building star C-level execs. (said in the WSJ so i cant take credit for the comment) "The point is, I'm weird, but I never felt weird." John Frusciante