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I see plenty of reporting of white collar financial crimes. Maybe you should get your news from a different source. You seem woefully misinformed but heavily brain washed with OWS rhetoric.
The "anger, outrage, grief etc here on CD towards thugs, low class criminals, racial disputes, teen moms, etc," is brought about due to whatever the thread topic at hand is about. Which is usually some sort of crime or incidence that would cause such discussion. You don't see too many white collar crime threads or things of that nature. Which is why you don't see those discussions. Despite what a lot of the folks on those other threads who get all angry that only one stratosphere of society is getting harped on will whine on about...
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Originally Posted by leoliu
That is probably how the riches leave average americans behind by directing their focuses on other more exciting criminal events like the bikers events, racial beat up events, and abuse of food stamp issues....it is harder to investigate and convict these white collar criminal activities, and major news media would rather cover petty street corner crimes instead of reporting these more hazardous but less exciting crimes to the public.
Quote:
Originally Posted by 30to66at55
I see plenty of reporting of white collar financial crimes. Maybe you should get your news from a different source. You seem woefully misinformed but heavily brain washed with OWS rhetoric.
I also see plenty. Just not on this forum, hence my initial post. Now we have a thread where we can talk about it. So let's talk about the scum...
Insider trading is the dumbest crime to focus on. Like someone above pointed out, it doesn't actually hurt anyone. It just offends our sense of fairness.
The real financial crimes of the last couple decades have been frauds on the public. Sometimes they're punished with a slap on the wrist (remember, the $50 million settlement the SEC proudly announces is pocket change to these banks). More often they're not punished at all, either because regulators can't be bothered to go after them, or because the regulatory system is so thoroughly captured by the players it's supposed to regulate that the fraudulent conduct isn't even illegal.
I also see plenty. Just not on this forum, hence my initial post. Now we have a thread where we can talk about it. So let's talk about the scum...
Not so many people could relate their past experience to these crimes compared to those daily petty crime activities. But more public awareness and understanding of these white collar criminal activities will lead to more pressure to implement stricter scrutiny on this class of criminal.
Not so many people could relate their past experience to these crimes compared to those daily petty crime activities. But more public awareness and understanding of these white collar criminal activities will lead to more pressure to implement stricter scrutiny on this class of criminal.
Have you turned on the TV today? because if you want public awareness, you'll notice that all the news outlets are reporting all day about SAC pleading guilty to insider trading.
Insider trading is the dumbest crime to focus on. Like someone above pointed out, it doesn't actually hurt anyone. It just offends our sense of fairness.
The real financial crimes of the last couple decades have been frauds on the public. Sometimes they're punished with a slap on the wrist (remember, the $50 million settlement the SEC proudly announces is pocket change to these banks). More often they're not punished at all, either because regulators can't be bothered to go after them, or because the regulatory system is so thoroughly captured by the players it's supposed to regulate that the fraudulent conduct isn't even illegal.
I wonder if they eventually legalize insider trading as there are so many reports and studies being done on the matter, if SAC will get their money back and be able to trade public money again.
so there have been a lot of anger, outrage, grief etc here on CD towards thugs, low class criminals, racial disputes, teen moms, etc, yet few seem to care about billionaire criminals. while a thug with a knife on the street could pose a physical threat to a few passengers, these low life white collar criminals hurt hundreds of thousands of american families in more sophisticated ways without your knowing it....
these are low lives, too, and are more dangerous than those sporadic thugs, yet they might appear as "high class" in front of you until they get convicted. remember Bernard Madoff, Rajat Gupta, Raj Rajaratnam? how do you all feel, NYCers? Could you tolerate this class of low lives better than those random thugs on the streets?
Hedge-fund billionaire Steve Cohen's SAC Capital will plead guilty to criminal insider trading charges and agree to pay a record $1.8 billion fine, according to a statement from federal prosecutors.
so there have been a lot of anger, outrage, grief etc here on CD towards thugs, low class criminals, racial disputes, teen moms, etc, yet few seem to care about billionaire criminals. while a thug with a knife on the street could pose a physical threat to a few passengers, these low life white collar criminals hurt hundreds of thousands of american families in more sophisticated ways without your knowing it....
these are low lives, too, and are more dangerous than those sporadic thugs, yet they might appear as "high class" in front of you until they get convicted. remember Bernard Madoff, Rajat Gupta, Raj Rajaratnam? how do you all feel, NYCers? Could you tolerate this class of low lives better than those random thugs on the streets?
Hedge-fund billionaire Steve Cohen's SAC Capital will plead guilty to criminal insider trading charges and agree to pay a record $1.8 billion fine, according to a statement from federal prosecutors.
I'm gonna say an opinion on why most middle class people or in general this doesn't affect them. These are guys dealing with uber rich clients in Hedge Funds. The common guy/gal is not or couldn't even buy into a hedge fund. Being assaulted or watching a thug deal drugs on a corner near their house is more of a pressing need. Both crimes are wrong but one is more in your "Face"
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