Family Crest

Family Crest
Motto: I will never forget. [ Source HouseofNames ]

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. Clock moved to 90 seconds to doom at December 2023. Apologies to Bulletin of the Atomic Scientists for using the name.

PLEASE QUOTE, COPY and LINK

While this material is copyrighted, you are hereby granted permission and encouraged to copy and paste any excerpt and/or complete statement from any entry on this blog into any form you choose. In return, please provide explicit credit to this source and a link or URL to the publication. Email links to mckeever.mp@gmail.com

You may also wish to read and quote from these groundbreaking essays on economic topics with the same permission outlined above

The Jobs Theory of Growth [https://miepa.net/apply.html]

Moral Economics [https://miepa.net/moral.html]

Balanced Trade [https://miepa.net/essay.html]

There Are Alternatives to Free Market Capitalism [https://miepa.net/taa.html]

Specific Country Economic Policy Analyses - More Than 50 Countries from Argentina to Yemen [https://miepa.net/]




Translate

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.

http://www.nytimes.com/2011/11/08/opinion/end-bonuses-for-bankers.html

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.

Sob.

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:

http://dealbook.nytimes.com/2011/11/09/the-daily-show-addresses-the-walking-debt/?WT.mc_id=MO-PS-E-PS-TXT-DBOOK-ROS-1211-NA&WT.mc_ev=click

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,