They have a "three strikes" rule for felons to put them in prison for life. Perhaps the congress could be challenged to require that any financial enterprise which has been fined for wrongdoing more than three times in the last fifteen years and is fined again cannot be licensed to operate in the United States or in any of the states. Further that the chief executive officer, chief financial officer, and chief legal counsel are barred from holding any licence to work in securities, including securities law thereafter. I myself would put them into maximum security prison in the general population, but we can discuss whether that is going too far or not far enough. I would also require that all the pay for every executive in the company, including bonuses, stock, options, and pensions be forfeit and distributed to the victims of their crimes. Make it as personal as possible. If the law is meant to deter crime, these would be deterrents.
But I don't think the congress would ever make such a law. They are paid prostitutes of the military industrial financial pharmaceutical complex. Nevertheless it's a pretty thought to ponder.
Re Clubhouse Media: what in the world has happened to the SEC? Do they do anything meaningful any more? Or just collect cost-of-doing-business fines to keep the party going.
You gave me an idea. At the next county (home) tax appraisal review board meeting, I'll use Owners Equivalent Rent to show them that my house appraised value (and taxes) have NOT gone up by 75% over the past three years! Yea! That will work! Right? Right? Anyone? Ferris? Right?
I dont understand why anyone world but fixed yield anything. Over the last year I have invested in floating yield because it means I get safety. What does a 2% fixed yield give anyone? Donkeys. You know the goverment is going to screw you.
You ever do floating rate treasuries? I heard someone mention them the other day and was looking at 'em. I do t-bills on treasury direct but never tried FRN's. 2 year term. So far staying 6mo and shorter.
SBF told everybody he was a con on Odd Lots when he described "yield farming". The BS was obvious but when the cost of money is "free" the promoters and regulators don't care. Anyone with commonsense listening to this podcast would have never invested with SBF. He is just one of the many cancers the ZIRP/NIRP idiocy spawned.
I wonder if Jeff Snider is missing something important when he talks of Fed officials being a clown show. Yellen, Powell, Legarde and so on all have a common denominator and it’s personal greed, (maybe a brush of nepotism, income streams from Wall Street and intimates of the Epstein circle). They are not fit for public office but they are the perfect tool for Blackrock and the like. Their corruptibility.
Excellent stuff. I feel the same about Snider: he's always insisting that "it's not money printing". Please.
They have a "three strikes" rule for felons to put them in prison for life. Perhaps the congress could be challenged to require that any financial enterprise which has been fined for wrongdoing more than three times in the last fifteen years and is fined again cannot be licensed to operate in the United States or in any of the states. Further that the chief executive officer, chief financial officer, and chief legal counsel are barred from holding any licence to work in securities, including securities law thereafter. I myself would put them into maximum security prison in the general population, but we can discuss whether that is going too far or not far enough. I would also require that all the pay for every executive in the company, including bonuses, stock, options, and pensions be forfeit and distributed to the victims of their crimes. Make it as personal as possible. If the law is meant to deter crime, these would be deterrents.
But I don't think the congress would ever make such a law. They are paid prostitutes of the military industrial financial pharmaceutical complex. Nevertheless it's a pretty thought to ponder.
Oh and the pay confiscation would run back to the first time their company was fined.
I’m afraid you’re right…..the rule-makers are owned. And they really don’t care that we know it anymore.
Yes. They know that we know that they lie. And they keep lying. I am reminded of Solzhenitsyn.
https://www.solzhenitsyncenter.org/live-not-by-lies
Re Clubhouse Media: what in the world has happened to the SEC? Do they do anything meaningful any more? Or just collect cost-of-doing-business fines to keep the party going.
It seems mostly they crow on twitter about busting some penny ante insider trader.
They desperately need a good old 6 sigma review. I wonder what they believe their mission is these days
Nobody paints the picture better than you do. Man oh man I can hardly believe what I read here
You gave me an idea. At the next county (home) tax appraisal review board meeting, I'll use Owners Equivalent Rent to show them that my house appraised value (and taxes) have NOT gone up by 75% over the past three years! Yea! That will work! Right? Right? Anyone? Ferris? Right?
Let me know how that goes:)
Last night, I paid $67 for pasta bolognese and a glass of cab, tax/tip incl.
I tasted bile in the back of my throat as I signed the credit card slip.
The meaninglessly large numbers the Fed throws around are avalaching down to the very meaningful numbers we run our lives by.
I dont understand why anyone world but fixed yield anything. Over the last year I have invested in floating yield because it means I get safety. What does a 2% fixed yield give anyone? Donkeys. You know the goverment is going to screw you.
You ever do floating rate treasuries? I heard someone mention them the other day and was looking at 'em. I do t-bills on treasury direct but never tried FRN's. 2 year term. So far staying 6mo and shorter.
I have been using AT1 bank notes, fixed + margin. In Australia they are higher up the food chain.
SBF told everybody he was a con on Odd Lots when he described "yield farming". The BS was obvious but when the cost of money is "free" the promoters and regulators don't care. Anyone with commonsense listening to this podcast would have never invested with SBF. He is just one of the many cancers the ZIRP/NIRP idiocy spawned.
https://www.youtube.com/watch?v=KZYqL79GDXU
Well said.
I’m thinking that my side-hustle could be me making book against The Economist and Jim Kramer. What say you? Hahaha
I wonder if Jeff Snider is missing something important when he talks of Fed officials being a clown show. Yellen, Powell, Legarde and so on all have a common denominator and it’s personal greed, (maybe a brush of nepotism, income streams from Wall Street and intimates of the Epstein circle). They are not fit for public office but they are the perfect tool for Blackrock and the like. Their corruptibility.