Why is it?

[AllentownJake]

That every time I read any article on the financial sector right now it is reading like the beginning of one of my case studies in spotting financial fraud when I was a junior accounting student at Temple University?

I mean not even the complex Enron stuff, the basic, Auditing one street level Ponzi scheme things they taught us.

:shrug:

[Warpy]

1. All conservative administrations from Reagan through Clinton

displayed less than enthusiastic prosecution of white collar crime, to the point that Eliot Spitzer, as AG of NY State, felt compelled to step in from time to time to fill the gap.

The last miserable 8 years saw outright discouragement of any regulatory agency doing its job by appointing party hacks who refused to let meaningful investigations go ahead and stopped the ones that were in progress.

There is a reason Madoff's whistleblower was able to drop the whole case against the man tied up with a ribbon into the SEC's lap and have them do absolutely nothing about it for years.

It is fraud, it's long been fraud, and it's been aided and abetted by men who hide behind the buzzwords "fiscal conservative" and "business friendly" while they gut everything that was there to protect the citizens of this country from the predators.

Any repair of our system will have to start with Chris Cox's ass nailed to a chair in front of a Congressional committee until he names names about where his marching orders came from.

[AllentownJake]

2. The management of all the Big 4 auditing firms should be marched into guantanomo

They were the watchdogs. They were the police. The minute they allowed them to form LLC's and LLPs the entire system collapsed because they stopped caring as much what their partners were up to.

[Birthmark]

3. It's Reaganomics!

I believe there anthem goes something like this:

"Scam, scam, scam, scam
Wonderful scam, lovely scam...etc."

Works wonders for the "GDP."

[Greyhound]

4. Because it is. The American ignorance quotient regarding all things economic

has reached critical mass. There are simply too few citizens left with fundamental skills to grasp any financial matters.

[jgraz]

5. We know why it resembles a financial fraud case

The real question is: why, after over a year, does it still resemble the fucking beginning of a financial fraud case??? :banghead:

[AllentownJake]

8. Because the federal government is sitting on top of the biggest Ponzi Scheme

Ever created :shrug:

[hfojvt]

6. you got an example

or should I pick one at random?

[AllentownJake]

7. We could start with Credit Default Swaps

Insurance without reserves is a Ponzi scheme that was regulated in the 19th century on property and health, because it was a Ponzi scheme.