Boys Play’n With Other People’s Money

Those dice rollers on Wall Street are incredible!  They feel no shame and they feel so important, too.  Not only important, but untouchable as well.  That last part may change soon as the Feds continue to investigate the ‘games’ the boys were playing with other people’s money.

I’ve never been to Vegas but it sure would be more fun to go with money given to you from someone who says, ‘Gamble away and if you lose, at least you had fun doing so!’  Other people’s money.  Like the $5 bill my aunt gave me once when I went on vacation with my parents.

The trouble is that people who invested their money in the market ASSumed that it would be invested properly by mature adults, not adolescents playing games with it.  Yet, that’s exactly what ‘Wall Street’ became- a game, like one of those addictive video games that teens play.  Addictive as in gambling.  Even more ‘fun’ with other people’s money when whatever you do with it, you win. Like salary and bonus, big bonuses whether you win or lose.

Wall Street morphed into a Casino, plain and simple and we didn’t know it was happening. No one was looking, no one was investigating, no regulations, no rules. As with all casinos, the house always wins, especially when the Federal government is there to bail them out, and the poor schleps lose.

I conjure up in my mind a scene of a teenage boy with daddy’s credit card having a great time because, after all, it isn’t his money. Logic, caution and wisdom fly out the window when it’s somebody else’s money.

Billions of dollars in ‘profits’ and the Federal government has your back.  It’s a dream come true, play time, big time. It’s an addictive-personality disorder with rewards- a virtual playground of adrenalin rushes, with no limits, no penalties, no ‘go to jail’ card-white collar crime to the max.

And here we are, the victims, the ones whose savings and pensions have been robbed by the boys play’n games with our lives, our futures.  Our towns and cities devastated, neighborhoods ruined, jobs lost, homes lost,  lives wrought with worry and hopelessness. The American dream deferred.

A solution?

Hang the CEO’s high on public gallows assembled on Wall Street itself. Perhaps only then will the ‘boys’ finally become fully-functioning adults and only then will they see the consequences of their actions.

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7 thoughts on “Boys Play’n With Other People’s Money

  1. I was watching some of the Goldman Sachs hearing and was blown away. Muddy, you got it wrong when you compared those assholes to gamblers.
    Those scumbags were selling something that they KNEW was rotten from the start and even joked with each other within GS about how “shitty” it was…and still sold it to clients!

    I have a running bet that Goldman Sachs WILL get away with this. They’ll offer up a fall guy who will do a year at a camp cupcake style “prison” and walk out a multi millionaire if he keeps his mouth shut.

    Any takers?

  2. mud_rake,
    What these high rollers did in their speculation game was bad enough, but their smugness and obvious contempt for those in Congress they testified before recently (as well as for the American people, by proxy) pushes their behavior way over the top. Forget about hanging them: these arrogant jerks should be stripped naked and then forced to slide down a staircase railing lined with razor blades, and then land in a very deep vat filled with 99% rubbing alcohol! Sadistic? Not really, considering what they did. Just? Absolutely!

  3. A couple of years ago I found this amazing website called “The Fabulous Ruins of Detroit”. Since then, a number of other photo essay sites have cropped up that give a pictoral representation of the economic decline of places like detroit, gary indiana, and flint. These places our testiment to the soul less nature of capitalism. How capitalism, when it is unregulated, unrefereed, can cause more harm than a terrorist bomb. I have nothing against capitalism, in fact, I believe capitalism is the greatest economic tool the world has ever had. But it just an economic tool, it shouldn’t be the “be all, end all purpose of society”, and it shouldn’t be equated with “freedom” as spelled out in our sacred founding documents. Some how our country has been bastardized with the idea that freedom = capitalism.. That’s the problem.

    http://detroityes.com/industry/index.html

  4. Steve, The Fabulous Ruins Of Detroit is one of my favorite sites!
    The mystery of the lost worlds largest cast iron kitchen stove is part of my family heritage.
    You should really check out the piece by Matt Taibbi, The Great American Bubble Machine. It was originally published in Rolling Stone Magazine last year, but has been republished and the depth of its investigative history depicts the cynical, manipulative mentality of naked greed through the 20th century.
    Goldman Sachs is now implicated in the collapse of the Greek economy.
    We get the usual PR spin and denial from them in the hearings, but I think this time, the repercussions are going to be a lot more serious than just a fall guy going to country club prison.
    The congressional hearings that you see on TV are just the tip of the investigation and the case that is being built against them.

  5. The congressional hearings that you see on TV are just the tip of the investigation and the case that is being built against them.

    But these guys are so white, so clean, and live in great suburban enclaves. Surely you wouldn’t want THEM to be in prison with those OTHER criminals who got caught with pot or a rock of crack!

  6. Hello Sepp,
    When you said, “Those scumbags were selling something that they KNEW was rotten from the start and even joked with each other within GS about how “shitty” it was…and still sold it to clients!”

    Well stated. The only thing I would add is the question of, “Had they no conscience or instant remorse as they were convincing others to invest their working class retirement funds or savings into this?”

    Hello Steve,
    Your statement, “Some how our country has been bastardized with the idea that freedom = capitalism… That’s the problem.” How insightful and a good epiphany. One that those with the extreme conservative right wing viewpoints give no foresight to or follow through of thought. Anyone applying John Nash’s “Game Theory” knows the first thing you have to do is identify ALL of the variables needing to be considered.

  7. Surely you wouldn’t want THEM to be in prison with those OTHER criminals who got caught with pot or a rock of crack!

    No, of course not, my wife wouldn’t either, but she scares me sometimes, she and her sweet little friend, Suze and their constant refernece to “bringing back the guilotine”
    Schlackkk…pooom…….!
    You have to admit, it was a lot more efficient thatn your gallows.
    With a guilotine, you could do a kind of assembly line operation.

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