Prof. Jeffrey Sachs reams Wall Street Banking

[cypherdoc]

http://www.youtube.com/watch?feature=player_embedded&v=7VOWnnEphjI

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[Mike Christ]

The part at the end is very striking:
http://www.youtube.com/watch?feature=player_detailpage&v=7VOWnnEphjI#t=745s

I meet a lot of these people on Wall Street on a regular basis right now. I'm going to put it very bluntly: I regard the moral environment as pathological. I'm talking about the human interactions that I have. I have not seen anything like this. I have not felt it so palpably. These people are out to make billions of dollars and nothing should stop them from that. They have no responsibility to pay taxes, they have no responsibility to their clients, they have no responsibility to counter-parties in transactions. They are tough, greedy, aggressive, and feel absolutely out-of-control, in a quite literal sense. And they have gamed the system to a remarkable extent. They have a docile president, a docile white house, and a docile regulatory system that absolutely can't find its voice. It's terrified of these companies. If you look at the campaign contributions, the financial markets are the number one contributors in US system now. We have a corrupt politics to the core, I'm afraid to say. Both parties are up to their necks in this. This has nothing to do with democrats or republicans. It doesn't have anything to do with right-wing or left-wing, by the way. The corruption is, as far as I can see, everywhere. But what it's led to is this sense of impunity that is really stunning, and you feel it on the individual level now right now. It's very very unhealthy. I have waited for four years, five years now, to see one figure on Wall Street speak in a moral language, and I have not seen it once. And that is shocking to me. And if they won't, I have waited for a judge, for our president, for somebody, and it hasn't happened. And by the way, it's not going to happen anytime soon, it seems.

Fucking disgusting. Very upsetting, especially given what little options there are to do anything about it. Voting is pretty useless.

Out with the old, in with the new.  It'll never happen as long as people are even remotely okay with where we are now.  I'd wager most people have no clue.

[dust]

These people are out to make billions of dollars and nothing should stop them from that. They have no responsibility to pay taxes, they have no responsibility to their clients, they have no responsibility to counter-parties in transactions. They are tough, greedy, aggressive, and feel absolutely out-of-control, in a quite literal sense.

Honestly, this could be said about many people in the bitcoin community.

[leemar]

Bitcoiners don’t yet have that responsibility

[LightRider]

Time to investigate a resource based economy!

[Mike Christ]

Time to investigate a resource based economy!

RBE requires a willing populace, and most people are brainwashed.  Let's take it one step at a time   Once we have the globe on an acceptable level of education (e.g., the majority aren't drones for corporation X), then we can talk about RBE.

[bitcoinminer]

Those of you that find this disgusting/surprising/whatever:

I find it shocking you have managed to avoid newspapers, television, internet news, and pretty much all information entering your brains since say, 2007/2008.

Where have you guys been?!?!

[Mike Christ]

Those of you that find this disgusting/surprising/whatever:

I find it shocking you have managed to avoid newspapers, television, internet news, and pretty much all information entering your brains since say, 2007/2008.

Where have you guys been?!?!

Stuck somewhere between American Idol and Jersey Shore.

[leemar]

It’s not the facts, it’s the way they are now being openly discussed by serious economists.

[cypherdoc]

Those of you that find this disgusting/surprising/whatever:

I find it shocking you have managed to avoid newspapers, television, internet news, and pretty much all information entering your brains since say, 2007/2008.

Where have you guys been?!?!

you know what they say about a person needing to hear something about 8x before it registers.

[2_Thumbs_Up]

Time to investigate a resource based economy!

Economics is the science of housekeeping of scarce resources. A non-resource based economy is an oxymoron.

[cbeast]

Time to investigate a resource based economy!

RBE requires a willing populace, and most people are brainwashed.  Let's take it one step at a time   Once we have the globe on an acceptable level of education (e.g., the majority aren't drones for corporation X), then we can talk about RBE.

This...

Economics is the science of housekeeping of scarce resources. A non-resource based economy is an oxymoron.

... is an example of the brainwashing.

[bitcoinminer]

there have been money changers since the bible days.  It never changes.

[Mike Christ]

there have been money changers since the bible days.  It never changes.

We're still in the bible days

[herzmeister]

This...

Economics is the science of housekeeping of scarce resources. A non-resource based economy is an oxymoron.

... is an example of the brainwashing.

nah, it's just an example of nitpicking and hairsplitting.

It's true, as long as we're on this planet, we can't spend more resources than it has. The question is the manner in which we do so, if it's good for the ecology and climate of this planet, if it benefits the many or the few. What Peter Joseph really means is a CRBE: a controlled resource based economy. Controlled especially about the harvesting part, so that it would stay in "harmony" with the eco-system of this planet. We are to "household" with this planet's resources. Yes, he's nebulous about it, and there's no satisfying answer to the question who controls the controllers.

[marcus_of_augustus]

Direct consequence of the bail-outs. The bail-outs rewarded the greedy, incompetent and corrupt ... and now they rule Wall St., what did they expect?

The market was emphatic that these guys had to go but govt knew better ... so suck it up anybody who was in favour of bailouts, this is your bed, lie in it. It only gets worse from here.

NB: I think Sachs was actually favour of bailouts so it is somewhat hypocritical to now be decrying the wrath it has wrought.

[Phinnaeus Gage]

http://observer.com/1999/12/the-rise-and-fall-of-dana-giacchetto-advised-dicaprio-annoyed-ovitz/

Along the way he built up his star-studded client roster. In 1995, he moved to New York. In 1998, he merged elements of Cassandra Group with a Chase Manhattan Bank investment division called Chase Capital Partners. The result? The short-lived Cassandra-Chase Entertainment Partners L.L.C. The group had its roots in the friendship between Mr. Giacchetto and Jeffrey Sachs, a 48-year-old Democratic Party operative and friend of the Kennedy clan with a D.D.S. Mr. Sachs was supposed to be on that fatal flight with John F. Kennedy and the Bessette sisters, but canceled at the last minute, according to friends.

http://www.reddit.com/r/IAmA/comments/1va94y/i_am_jeffrey_sachs_professor_and_director_of_the/ceq9qrw

You know, I've worked on currencies for 30 years but not yet on Bitcoin, but many (many!!!) people have been asking me about Bitcoin recently, so I need to start my own education on it. Sorry to be a laggard!

[bluemeanie1]

http://www.youtube.com/watch?feature=player_embedded&v=7VOWnnEphjI

"Suspicious Deaths of Bankers Are Now Classified as “Trade Secrets” by Federal Regulator"

http://wallstreetonparade.com/2014/04/suspicious-deaths-of-bankers-are-now-classified-as-%E2%80%9Ctrade-secrets%E2%80%9D-by-federal-regulator/

[Phinnaeus Gage]

http://www.youtube.com/watch?feature=player_embedded&v=7VOWnnEphjI

"Suspicious Deaths of Bankers Are Now Classified as “Trade Secrets” by Federal Regulator"

http://wallstreetonparade.com/2014/04/suspicious-deaths-of-bankers-are-now-classified-as-%E2%80%9Ctrade-secrets%E2%80%9D-by-federal-regulator/

Care to guess how many degrees of separation there are between my last post in this thread and the following?

Bitcoin exchange CEO Autumn Radtke jumped to her death: report

New details have emerged surrounding the mysterious death of Autumn Radtke, the American CEO of Singapore-based bitcoin exchange firm First Meta.

Earlier reports said that Miss Radtke was found dead in her Singapore apartment on Friday, but a neighbor who wished to remain anonymous told the New York Post that the 28-year-old plunged to her death from an 25-story apartment building near her home at about 7 a.m. last Wednesday.

Police reported that the young CEO was found outside the building and was declared dead by paramedics. Her death has now been classified as a case of unnatural death, the Post reported.