The trouble is when you let foxes to guard the hen house, there will be always problems in one or another form. These same bad actors will always find a way to cheat the system and steal their "legitimate" share. These creeps were behind the tech bubble of year 2000 by intentionally defrauding investors with crappy IPOs. When they were caught, they paid peanuts to SEC and investors and moved on to the new game. Mortgage backed security was the new game! Mortgage backed securities were pooled and sold to unsuspecting customers when banks knew they were bad. To cause insult to unsuspecting customers' injury, they were betting against their own products!
And, now we find the rate manipulation. What is next? Few more years from now, we will again find out how a different game was played and how bankers made their paychecks bonuses. It is pretty sickening and I do not think we can do much except bringing back the old capitalism. No more bailouts for any bank, small or large! One strike and you are out!!
-SD
"All great truths begin as blasphemies." GBS
From: Abdulla Dewan <adewan@emich.edu>
To: Politiconomy <politiconomy@list.emich.edu>
Sent: Sunday, July 22, 2012 3:49 PM
Subject: [Alapon] [Politiconomy] Links to two new articles are given
1) LIBOR Rate Fraud and the Fallout -- The Financial Express, Dhaka
http://www.thefinancialexpress-bd.com/more.php?news_id=137526&date=2012-07-23
2) Is Bangladesh Human Rights Commission a Show and Tell Institution? The Daily Sun, Dhaka.
(a downloaded copy is also attached )
Thank you for your attention and interest,
--
Abdullah A. Dewan
Ph.D.(monetary/macroeconomics)
M.Sc.(Phys), M.S.(nuclr. engr)
Professor of Economics
Eastern Michigan University, USA
Phone#(734)487-0003
http://www.thefinancialexpress-bd.com/more.php?news_id=137526&date=2012-07-23
2) Is Bangladesh Human Rights Commission a Show and Tell Institution? The Daily Sun, Dhaka.
(a downloaded copy is also attached )
http://www.daily-sun.com/details_Is-Human-Rights-Commission-a-%E2%80%98show-and-tell%E2%80%99-institution_212_2_5_1_0.html
Thank you for your attention and interest,
--
Abdullah A. Dewan
Ph.D.(monetary/macroeconomics)
M.Sc.(Phys), M.S.(nuclr. engr)
Professor of Economics
Eastern Michigan University, USA
Phone#(734)487-0003
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