Everyone's been talking about it - Dizzy with his non-specific bank accounts - and a dozen or more other august bloggers, let alone the media but there's still one thing I don't get.Call me obtuse but I don't understand why we need to monitor, register or concern ourselves in any way with sources of parliamentary funding and by extension - sources of presidential funding in the States.
It's so hypocritical anyway. The real funding comes in surreptitiously, via the Club of this or the Club of that or from individuals who know individuals who know a banker anyway, so why bother?
I'm not condoning corruption. I'm simply condoning the uncorrupting of corruption. If everyone is corrupt, absolutely everyone, then there is no corruption any more.
Works well in certain countries.
Good point.
ReplyDeleteBut if everyone is a liar and we join in then are we all being truthful?OR are we all just doomed?
No wonder dog is man's best friend.He's not corrupt, he doesn't lie- he just wants a bone.
How's the white knight?
Seems we both had our sarcastic moments this afternoon. :)
ReplyDeleteSome corruption, by certain families and their lackies never goes away.
ReplyDeleteIt surfaces in all places, at every, and any opportunity.
It cares nothing for the suffering, and broken lives.
Then, and now
Once the East Asian Tiger economies had begun to open up to foreign capital, but well before they had adequate controls over possible abuses in place, hedge funds went on the attack. The secretive funds first targeted the weakest economy, Thailand. American speculator, George Soros, acted in secrecy and armed with an undisclosed credit line from a group of international banks including Citigroup. They bet that Thailand would be forced to devalue the baht and break from the peg to the dollar. Soros, head of Quantum Fund, Julian Robertson, head of the Tiger Fund and reportedly also the LTCM hedge fund, whose management included former Federal Reserve deputy, David Mullins, unleashed a huge speculative attack on the Thai currency and stocks. By June, Thailand had capitulated, the currency was floated, and it was forced to turn to the IMF for help. In swift succession, the same hedge funds and banks hit the Philippines, Indonesia and then South Korea. They pocketed billions as the populations sank into economic chaos and poverty.
Far from legalising this corruption, some way has to be found to not only control it, but increase the legislative costs to individuals, to a level that will permanently dissuade them from such actions
Every game we witness, and here I refer to the current financial/economic debacle, seems to be part of an orchestrated plan, only visible in retrospect, when the winners become obvious, and the taxpayer becomes the bag-holder.
Some would say that the orchestrated attack, first on Thailand, then on others, was merely taking advantage of apparent weaknesses in their newly opened financial infrastructure.
Others would say, that the said countries, since they were being pressured severely to open their financial structures, should have been given intellectual aid in the opening and designing process by the authorities who were pressing them to open, who were also those ultimately responsible for the economic catastrophe visited on those countries.
Can we wonder at current reticence being displayed.
It always seems to be the same players
Uber, Sean - thanks.
ReplyDeleteSimon - that's how I read it too and don't forget the billions pocketed in Russia from the aid package. Fine detail in your comment was appreciated.
Bretwalda, don't forget Soros has Malloch Brown in the FO, at the heart of detailed negotiations internationally, to act as his ears.
ReplyDeleteIf you want to read about global corruption, with the usual players, take a look at this link
ReplyDeleteGlobal grain prices in lockstep with global oil prices, and because of inherent inefficiencies of both production, and combustion of ethanol, both are guaranteed to rise faster together than would be the case absent ethanol!
Who profits?
Well Rockefeller for one.
And don't forget the grain store in the arctic.
Very interesting idea. But then you might take all the fun out of politics. And that is the only thing that we've got left in our political system.
ReplyDeleteOn another note have you seen this in the telegraph?
http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/01/17/nsaucy117.xml
It's similar to your other teacher student posts.
And fun in politics is the main idea, Rob.
ReplyDelete