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More wall Street Fleecing of America
Topic Started: Nov 4 2011, 11:04 PM (232 Views)
Thumper
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Fire & Ice Senior Diplomat
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http://bottomline.msnbc.msn.com/_news/2011/11/04/8631533-corzine-resigns-from-mf-global-wont-seek-severance
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Yet the republicans willm defend these actions
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tomdrobin
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I doubt the Republicans will defend Corzine, I believe is is/was a democrat. He thought the company wasn't making enough money, and started on a path of higher risk, betting on the european economic situration. That is the greed factor IMO. And, that factor is driven by higher expectations. And, when you stop and think about it higher expectations are really another form of entitlement mentality. I guess it is human nature, weather a CEO, or a welfare loafer.

As for the fleecing of america. That wasn't just wall street, that was corporate america as well. And, our elected government facilitated the job. Just goes to show you who they work for. Fullfilling the greed by defacto deregulation and ridiculously low tax policy on the high risk returns. Meanwhile the country as far as the working stiff is concerned has gone right down the tubes. You would have thought they would have realized the high profits from offshoring would eventually eliminate so many jobs that demand would drop for product. But, not many seemed concerned. To his credit, conservative commentator Pat Buchanan has sounded the alarm, but it fell on deaf ears with his fellow cons, and many progressives as well. First the service economy then the information economy and finally the finacial economy. GDP is improving, but that sure isn't translating into jobs. Many of the lost jobs will never return.

How anyone can be suckered into believing this disaster 2 to 3 decades in the making is all the fault of the election of Obama doesn't speak well for the electorate.
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Chris
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Not Wall St: "Jon Corzine has stepped down as head of MF Global amid allegations that the brokerage firm crossed a hard-and-fast line on Wall Street against using clients' money for its own purposes.... MF Global's board announced the resignation....will not seek severance..."

Read story. Just a corrupt individual violating a law against fraudulent activity and government doing its job to protect our rights against harm by force and fraud.
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Thumper
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Jon Corzine IS Wall Street.
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Chris
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Slight overgeneralization perhaps?
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