Comments on: Government held to far lower standard than private sector

By: Let It Collapse

Let It Collapse — Sat, 27 Jul 2013 04:38:10 +0000

I agree with Chris that the cities and pension funds are cookin’ the books when it comes to calculating the true unfunded liabilities going forward and future sustainability with the pension payouts. Eventually we’re just going to have to let it collapse (default the debt) and start over (see Detroit). The nation just can’t keep printing and accumulating deficits that have grown into a public national debt of $17T (not to include medicare or social security debt). We just can’t continue growing the debt with the idea of passing it off to the kids to solve. That is so, so wrong.

But I think Chris missed the boat on the financial shennanigans orchestrated by Wall Street. You’d have to have your eyes closed not to have seen the tremendous amount of criminal financial fraud perpetrated on Wall Street that caused the 2008 meltdown. Not to mention the trillions of narco dollars that were laundered by the too big to fails without one banker going to the big house. It’s really important to understand and acknowledge the crookery that happens both in the government and on Wall Street. Unless we do that we’re just digging a deeper hole for our kids. This is no time to play favorites. Btw, Bernie Madoff was a piker compared to the big boys on Wall Street who walked away unscathed. Bernie was used as an example because he bilked some influential rich people who live in Manhattan out of millions. Had he bilked poor people he’d still be on the streets, probably managing a hedge fund somewhere. We need to be painfully honest if we are going to find a way out of this mess.

By: Ulysses Uhaul

Ulysses Uhaul — Fri, 26 Jul 2013 19:03:23 +0000

The standard is every man for himself. Greed is Good. If you can stand the heat stay in the pork trough. Wake up and smell the money!

Doomers… your excused for recess! What naive saps.

By: Bob Smith

Bob Smith — Fri, 26 Jul 2013 17:07:25 +0000

We also see school districts lying about test scores and FNMA (I know they technically aren’t government) execs lying about profits to garner bonuses they’ve never been required to disgorge. We see lots of pension fraud by government pensioners which I am certain they will never be required to repay.

By: Steve Mehlman

Steve Mehlman — Fri, 26 Jul 2013 16:19:59 +0000

Wow, talk about selective memory. No mention of the Enron crowd, or Bernie Madoff, or Michael Millken, or any of the other assorted criminals and scam artists who have thrived for years in the private sector. And when these crooks were finally brought down, it wasn’t the private sector that did it; it was the government.

OK, Chris, I’ll make a deal with you: I will consider Bob Filner the poster boy for government if you recognize Bernie Madoff as the poster boy for the private sector. OK? I didn’t think so.

By: The Ted Steele Conceptual Abstraction Unit

The Ted Steele Conceptual Abstraction Unit — Fri, 26 Jul 2013 16:00:28 +0000

Good point Greeny– there has NEVER been sexual harrasment in the private sector, never.

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