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HUMANITY DOOMSDAY CLOCK - Moves forward to 2125 due to election of US President trump.

Estimate of the time that Humanity will go extinct or civilization will collapse. The HUMANITY DOOMSDAY CLOCK moves forward to 2125 due to US President trump's abandonment of climate change goals. Apologies to Bulletin of the Atomic Scientists for using the name.


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Wednesday, November 9, 2011

UPDATE 12.7.11 CORZINE: Hold Bankers Financially Responsible

Hey Barry:

A NYT writer has called for an end to bonuses for bankers.

It's a good idea but it does not go far enough.

Here's a better idea: Require that bank executives personally guarantee that their decisions won't harm any shareholders or depositers.

I know that we can pursue corporate officers after they are convicted of a crime, but with a direct indemnification, I am pretty sure we can recover money more quickly.

Of course the FDIC already protects depositors, but nobody protects the poor bank shareholders.


Itsa little tongue-in-cheek idea, but it has a point.

Here's the point:

The current system gives bankers incentives to create great fortunes by stealing from their depositors and shareholders.

That's just not right.

UPDATE 12.7.11: Y'all can watch Jon Stewart eviscerate Jon Corzine and the whole 'gimme, gimme' culture that is our financial system:

So, let's take away that incentive to steal by requiring bankers to pledge their personal assets as performance guarantees.

'Put your money where your mouth is.'

Whattya say Barry, it makes sense don't it?

That way we can sue 'em when they screw up with our money.

Your pal,

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