China Sentences Former Railway Minister to Death: unlike in the US where people can destroy entire banking systems with impunity and then get bailed out, in China if you screw up you are executed and this is a typical example.
Several reforms even passed Congress somehow in the wake of general financial collapse. But then these were not implemented since the very rich pay a lot of money to keep Congress and the system in their back pockets: Pay rule still unwritten amid corporate push
Facing corporate resistance, the SEC has yet to finalize a provision of the financial overhaul law, passed in 2010, that required companies to disclose how much more their chief executives made than other employees.
I have been against the spread of gambling all my life. But alas, fools are born every minute and even knowing that all the games in casinos are rigged, people still go to these silly places hoping magic will intervene. The use of ‘operant conditioning’ research first done in the 1950’s has led to higher and higher skilled rip off games such as this: Researchers say noisy casino slot machines can manipulate players. Music, whirs and chimes can fool our brains into thinking we’ve won — even when we’ve lost, they say.
This isn’t accidental. The appearance of winning fools the mind of feeble thinking gamblers who want to have the thrill and don’t realize the actual money isn’t showing up at all. Only when they go home and empty the wallet do they realize they were conned. But the very action of these games are designed to appeal to the same part of the deep brain that pigeons picking at seeds in a operant conditioning box think with. That is, the subconscious.
And this should be outlawed because it is like stealing candy from babies. Instead, the State gets a slice of the pie so it wants more fools to be cheated, not protect them from predatory crooks running casinos.
Now on to another scam. Bitcoins are silly. It doesn’t matter what ‘money’ is so long as people use it and bitcoins ended up being used for illegal purposes. Far from being secure, these things are highly insecure: First ever Bitcoin bust: Feds seize electronic currency in ‘connection to shadowy internet drug bazaar Silk Road’ | Mail Online
First ever Bitcoin bust: Feds seize electronic currency ‘in connection to shadowy internet drug bazaar’
Known as the ‘ebay of drugs,’ the site is part of the so-called Deep Web, which is invisible to the typical internet surfer
Silk Road only accepts Bitcoins
Aso, who also serves as deputy prime minister, said bankers in Japan had not been able to understand the complex financial instruments that were the undoing of major global players, so had not bought them.
“Many people fell prey to the dubious products, or so-called subprime loans. Japanese banks were not so much attracted to these products, compared with European banks,” Aso told a seminar in Tokyo on Friday.
“There was an American who said Japanese banks are healthy, but that’s not true at all. Managers of Japanese banks hardly understood English, that’s why they didn’t buy,” he said.
Aside from the fact that all the top bankers are very good with English, they were caught in the gears of the collapse…OVERSEAS. But not at home since the massive property bubble they created back in the 1980’s still is in a state of collapse and since the population is now also collapsing, property isn’t going to be a ‘growing market’ for the next 100 years. Add Fukushima and other disasters and we see that a failure to understand English has nothing to do with the mess in Japan.
The LDP is working overtime to rip off the citizens and transfer all the loot to their backers who want more government spending on goofy, useless things: Gov’t likely to seek extra spending to cushion sales tax hikes ‹ Japan Today: Japan News and Discussion
Several other government officials, all speaking on the condition of anonymity, said that there is a growing agreement within the ruling coalition that additional budget spending will be necessary.
Tokyo plans to double the sales tax from current 5% in two stages – to 8% in April 2014 and to 10% in October 2015 – with the caveat that the plan will go through only if the economy is deemed strong enough to cope with the impact.
This is a totally regressive tax that will hit all Japanese below the belt, big time. And since no one in the lower half of society is seeing any wage hikes or rise in pensions, this will hammer them all very hard. Aso is the same asshole who suggested last year that the elderly should die faster. So raising the tax on food and fuel, both of which have been rising rapidly due to inflation and the deliberate weakening of the yen, will put people on a starvation diet and thus, end up killing them which is the Aso goal.
This asset property bubble business has been roving the planet since Reagan’s rule of the US. The latest victim of this is Denmark: World’s Most Indebted Households Face Rate Pain: Nordic Credit – Bloomberg
Danish consumers, who owe banks more than three times their disposable incomes, are about to find out how sustainable that debt load is as interest rates rise…Mortgage holders in Denmark relied on the government’s stable AAA credit grade to finance debt at record-low rates during the fiscal crisis in Europe. While the Organization for Economic Cooperation and Development estimates Danish households owed 310 percent of disposable incomes in 2010, government debt is less than half the euro-zone average at only 45 percent of gross domestic product this year, the European Commission estimates.
Like in the US and other victims of this roving banking disaster, many saw home prices shoot suddenly upwards and then bankers offered interest only loans and other goofy deals and people said to each other, ‘I’ll sell my home for a profit and thus pay of the entire loan and move to a cheaper place like, say, Spain!’ Only the Spanish bubble popped as did the Greek, etc. Now, stuck at home with a huge mortgage hanging over their heads, one that can NEVER be paid in full via monthly payments, the Danish are on a sinking ship.
Then there is this news: Bank of America Said to Send Property Reviews to India. Yes, semi-literate Indians will process property information! With zero knowledge if the property is a slum, a swamp, a burned wreck, whatever. Great. But CHEAP! Yes, cheap labor is what matters to the Bank of America which is led by jerks who should have been arrested and executed.
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