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Discussion in 'Politics, Religion, Social Issues' started by skunk, Nov 30, 2010.
Who could it be?
Since too big to fail, we made our banks even bigger. We pretty much only have 4 biggies- Chase, Citicorp, Bank of America and Wells Fargo.
Looks like it's time to take my profits in my bank ETF.
Yeah, definitely the banks need splitting up.
Who could it be? I'm going to say Bank of America. I don't know... it's just a guess.
It's looking like Bank of America. Although I wouldn't mind Chase burning either. Actually, in all truth I don't want any of the banks burning because that's a major economic disruption at a time when the dollar's on fragile ground.
I'm seconding BoA. Bastards.
I bet it's citibank ... they are international crooks.
Goldman Sachs, hopefully.
I'm not keen on this whole wikileaks thing - corruption is everywhere - throwing this information around for all to see won't help anyone. If he (they) truly believe what they claim - why did he walk out of an interview when questions "got personal". I mean if it's OK to post secret and personal on Kings, diplomats and government officials - even if they DO represent a country - why is he exempt? And if sharing this information is truly for the best intent - someone please explain to me what chain of events will result in positive change?
It just looks to me like egg on faces, pats on the back from anti-western powers, possible bribes / payment for secrets to those who want them, 15 minutes of fame and that's about it. With the state of the world, shifting of power(s), energy less abundant and the economy in the collective toilet - this just seems to be very poor timing...
We agree, to disagree.
Short-term pain, for long-term gain.
If this cycle of "who's ox is being gored" is ever to be vanquished, why not now?
So far, this particular leak seems to be far more embarrassing for the non-western powers than for the US. There's plenty there they don't want their own citizens to be reading.
No, it is very good timing. As the world's economy and power structures become more and more precarious, there is an ever greater chance of corporations and governments turning a blind eye to or even encouraging unethical practices. This is precisely the time we need transparency. Without it, those lacking good judgement may well cause irreparable damage. The stakes are horrifyingly high.
While in principal I agree that transparency and ethical behavior is the way to go - the ugly fact is we as a species aren't very good at maintaining this. What I fear is this will only bring down or punish those who got caught - or who Wikileaks wants to get caught... but there will be countless others who won't - and they will just get better at concealing their actions.
So are we supposed to just hope and pray that out of the sheer goodness of their hearts those in control will somehow become more open and transparent in the future?
Not going to happen.
The only way to get transparency is to force it to happen.
No, we aren't, which is why imposing a high risk of exposure is a very useful control mechanism.
these leaks will not bring transparency to banks or governments ... if anything they will be taught to hide information even better
I think you give too little credit to those playing in this poker game.
It's all about bluff and counter-bluff now.
When dealing with thousands of employees and communications...not gonna happen.
There will always be whistle-blowers, if anything we need a hell of alot more of them.
Why? They have been pretty crap at it so far. QED.
This is potentially a good thing... I agree with Skunk that during these bad economic conditions the temptation is there to allow rules to be bent.
That said, banks are already weighed down with excessive regulation... they expend vast amounts of energy documenting processes and completing audits - and the expense of all this non-earning work has been a major factor in the movement of jobs offshore. Any government action taken to remedy whatever has gone wrong here needs to focus on smarter regulation - not just more all-encompassing red tape.
Is their big, ground-breaking scoop that a top banker prefers to fly with his female assistant? This WikiLeaks thing is the stupidest "breaking news" story in a long time.
I suggest you actually read some of the cables, rather than the ones cherry picked by the media to continue their pre-approved narratives (Ex. Iran).
You might actually learn something
Yeah... things most people just assumed to be true. Like most countries want us to do something about Iran. Shocker! There's nothing in these WikiLeaks that is even close to a security threat. Or even interesting.
I agree with firestarter. I know first hand of this so-called "remedy" to regulation of banks and can honestly say that it has assisted (as firestarter said) in moving jobs offshore where the grass requires little to no water to stay green.
I'm not sure GS qualifies here as the bank that is going to go down. I also have high doubts about it being BofA; Citi seems like a very likely candidate here and I welcome the bitch slap.
I feel as though they need to look past what the media has reported and look towards what is not so obvious.
What real threat does Iran pose?
They're completely surrounded by massive US military bases and countries that don't like them on all sides. From their perspective I can see why having a deterrent like a nuke would be desirable.
You guys need to understand that all having a nuke does is level the playing field. There is no way in hell Iran would ever actually use one.