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Tuesday, March 10, 2009

White Collar Crime of Mega Buck Proportion

If you thought the bailout was $700 billion, get ready for $2 trillion one . Or is it $40 trillion? Geithner with his strong ties to the banking industry may be conflicted. One issue raised recently is why can't the recipients share in some of the pain? Like 50 cents or less on the dollar for CDS derivatives which Warren Buffet called weapons of financial mass destruction.

We have the crime of manslaughter when somebody through their negligence but not intent causes the death of a person. An 18 year old is serving 2 yrs. for vehicle man slaughter because he was driving a car while DUI in which one of his passengers died. Shall we conside the equivalent of financial slaughter for these 'smart' CEOs and financial engineers negligence? Would anyone like to add the Bush Administration as unindicted co-conspirators?


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