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Old 03-12-2012, 10:28 AM   #91
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Actually you are kind of wrong to say the SEC is not going after these financial criminals: http://www.nytimes.com/2012/03/09/bu...ord-fraud.html

Stanford was convicted for a $7 billion dollar scheme. SEC is still trying to decide on restitution measures for the victims.
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you dont want me coming around dressed in black homie
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Honestly dude, this is why I want to go to hell. Hell is crackin.
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Old 03-12-2012, 10:42 AM   #92
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get back to me if those who stole the money from mf global/lehmann/aig get punished..

sorry but im going to start flooding your news thread with proper news.. lol

http://www.nakedcapitalism.com/2011/...ual-funds.html

Bill Black: What if the SEC investigated Banks the way it is investigating Mutual Funds?

Bill Black, the author ofThe Best Way to Rob a Bank is to Own One and an associate professor of economics and law at the University of Missouri-Kansas City. Cross posted from New Economic Perspectives.
The Wall Street Journal ran a story yesterday (12/27/11) entitled “SEC Ups Its Game to Identify Rogue Firms.” “Rogue” is an interesting word with a range of definitions. When it is used as an adjective its meaning is: “a playfully mischievous person; scamp.” The trivialization of the most destructive elite frauds is one of the most common forms of what criminologists call “neutralization” of the moral content of wrong doing. Neutralization increases crime.The actual story makes it clear that the criminals that the SEC was identifying were not “rogues.” They were the CEOs of seemingly legitimate firms. The SEC is identifying “accounting control frauds” – the frauds that cause greater financial losses than all other forms of property crime combined. The SEC is not identifying a few rotten apples, but roughly 100 hedge funds likely to have engaged in accounting fraud. The WSJ describes the SEC’s identification system:
“The list is the low-tech product of a high-tech effort by the SEC to crack down on fraud at hedge funds and other investment firms. After the agency failed to detect the $17.3 billion Ponzi scheme by Bernard L. Madoff, who wowed investors with steady returns over several decades, SEC officials decided they needed a way to trawl through performance data and look for red flags that might signal a possible fraud.
In 2009, the SEC began developing a computer-powered system that now analyzes monthly returns from thousands of hedge funds. Officials won’t say exactly how it works or how much it cost to build, but the agency has announced four civil-fraud lawsuits filed as a result of what it calls the “aberrational performance initiative.”” The SEC should be applauded for finally understanding that “if it’s too good to be true; it probably isn’t true.” Our agency put a similar system in place in 1984 to identify the S&L accounting control frauds that were driving that crisis. A quarter-century later, the SEC began to follow our well-trodden trail – but only with regard to felons inhabiting the middle of the fraud food chain (hedge funds).
The SEC has, inevitably, discovered that accounting fraud is common among hedge funds. It is unlikely that the SEC system is really “high-tech” in information science terms. Low-tech information systems have been capable of identifying “aberrational performance” for at least thirty years. We did not have to create any pioneering software in 1984 in order to identify aberrational performance. The cost and time to create our “red flags” was trivial (a few hours of programming time by an agency staffer). (We were collecting the data and computing the necessary ratios anyway. One simply decides the level of a few key variables worthy of being flagged. There’s nothing magic about a “flag.” All it means is that suspicious levels are highlighted on the computer screen and on physical copies of the periodic reports so that they capture the reader’s attention.)
The SEC took two years to create its “aberrational performance” system and is embarrassed enough about the cost that it wants to keep it secret. The two year development process allowed the SEC to make a major advance relative to our system – they invented a title consisting of two words and eight syllables. Devising a title that recondite doubtless accounts for six months of the time it took the SEC to develop its flags.
The most interesting aspects of the WSJ story, however, are two unexamined topics that should have been central to the story. First, there is not a word in the article about criminal prosecutions for the frauds the SEC has identified. The frauds, as described in the article, are so blatant that they would make relatively simple to prosecute. There is no indication that the SEC wanted the WSJ to know that they had made well over a hundred criminal referrals against hedge fund CEOs and senior officers. There is no indication that the WSJ reporters were interested in whether the SEC had made criminal referrals against these moderately elite felons. As a result, we have no information on whether the SEC has in fact made hundreds of criminal referrals against the senior officers at the hedge funds that they have identified as having engaged in likely fraud. Indeed, we have no evidence that they have made any criminal referrals. Neither the SEC nor the WSJ reporters indicated that any prosecutions, or even Department of Justice investigations, resulted from the SEC hedge fund investigations.
Second, why isn’t the SEC’s top priority the systemically dangerous institutions (SDIs)? The SDIs are the financial institutions that are so large that the administration fears that their failure will cause a new global crisis. The SDIs pose by far the greatest risk to the economy and investors of any entity. Their frauds reached “epidemic” proportions and drove our ongoing crisis and the Great Recession. The SEC, however, applied its “aberrational performance” system to its smallest entities and is now expanding it to mutual funds. There is no indication that the SEC intends to use the system to spot fraudulent SDIs. There is no indication that the SEC has even contemplated using the system to spot fraudulent SDIs. There is no indication that the WSJreporters asked why the SEC was failing to use its system where it was most needed.
Applying the SEC system to the SDIs would have led the SEC to develop a more sophisticated analytical approach to identifying fraud. There is no indication that the SEC has any familiarity with the criminology, economics, and regulatory literature about how to identify accounting fraud. Admittedly, the SEC (finally) has taken seriously the warning that generations of parents have impressed upon their children – “if it’s too good to be true; it probably isn’t true.” The Achilles’ heel of the SEC analytics is that it assumes fraud must be aberrational and its flags are (at least as described in the story) all tied to identifying aberrations premised on the implicitassumption that fraud cannot be endemic. The SEC official told the WSJ reporter that they looked for “outliers.” Accounting control fraud, however, can become endemic, particularly in a product line, because it produces a “Gresham’s dynamic” in which bad ethics drives good ethics out of the market. Accounting control frauds report results that are too good to be true, but they all report extraordinary results because accounting fraud is a “sure thing” (George Akerlof and Paul Romer, “Looting: the Economic Underworld of Bankruptcy for Profit, 1993). Accounting control fraud was far more common among the SDIs than the SEC system has identified among hedge funds.
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Old 03-12-2012, 11:00 AM   #93
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I understand what your saying barcode,.

you can recycle coltan, (its the black metal inside pc's ie on the chips) how many mobiles are their on this planet? how many get thrown away? just recycle instead of hunt for more..

to me what takes the ultimate piss, and a sign of how civilised our age is, is that
we make things to go outa space.. we currently are making robots with emotions..
that cost literally billions to research.. ( trans-humanists think that is our next evolutionary step)
the peoplw who control and own these tech giants, dont care about people,.
and unfortunatly everyone who is driven by consumerism,
a sign of how civilised we are, we can literally spend BILLIONS on robots and tech, but not millions on feeding and making those in the 3rd world self sufficent,

people cant resist the lastest gagdet, need their bling.. are all part of the problem.. or like sosa.. not give a fuck..

yes i have a pc.. ive had it over ten years, i do not buy computer components from the big tech giants or from foxx con, i refuse too.
i havent owned aconsole since the snes/ps1, i dont fuck with smartphone. and i never update my technological items, unless they die and i cant fix them.. i dont buy new tech,. i dont get blinded by the bullshit amount of gadgets that i dont want or need.. containing RFID's and other lame shit

you can always get ethically sourced materials, just takes research and a bit longer.

If we dont point fingers, these crimes will continue to remain hidden, its a matter of education and BOYCOTTING, those corperations that no give a fuck.


i just live by one simple rule,, its not what you say or think that defines you, its your actions..

African should be the pinnacale of humanity, but instead.. its treated like a basard step child.


old meme is old. but on point.


I really, really don't understand your logic here^



Just because you don't participate in this rampant consumerism of tech gadget addiction, doesn't necessarily mean you aren't benefitting from these precious metals used in circuit boards / chip sets everytime you post something on the web..

Your frames & packets are being transmitted, then routed through hundreds of thousands of hardware pieces that use these questionable metals. I really don't see how your boycotting is any way effective, considering you may pass up a smart phone, but then utilize an IT infrastructure that routinely makes performance upgrades + has a dependency on coal. (Not in a literal sense, but you know what I mean)

Just walking through automated sliding doors or swiping your debit card is enough to break your personal oath of not contributing or benefitting from the exploitation of these countries & their raw resources.
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you dont want me coming around dressed in black homie
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Honestly dude, this is why I want to go to hell. Hell is crackin.
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Did I scare you?
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Old 03-12-2012, 11:03 AM   #94
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sorry but im going to start flooding your news thread with proper news.. lol
you do realize, posting the headline and link are sufficient. Posting the entire body copy just makes the thread load 3x as long, especially on phones
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Originally Posted by Tony Bandana View Post
you dont want me coming around dressed in black homie
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Honestly dude, this is why I want to go to hell. Hell is crackin.
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Did I scare you?
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Old 03-12-2012, 11:35 AM   #95
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I didnt say i wasnt benefiting from the use of those metals, i just dont take part in the mindless consumerism, for the point of buying a new tv cos its twice as big as your old one, i care where my cash goes, i dont want or like to be supporting those i know who do evil,
ahh im guilty of walking through sliding doors,,. i dont have a bank account anymore, let alone use a debit or credit card.

just cos the techonology is already in place, that doesnt mean i cant use or benefit from it, im aware of where and what it comes from, so by that, i choose not to participlate in it,; any more than i have too,.

after all,, the internet is a basic human right (according to the united nations)

back on topic

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Old 03-12-2012, 11:53 AM   #96
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how are you not living in one of these communities by now?

http://openworldvillages.wordpress.com/

and not planting your seed in women with hairy arm pits and ani difranco concert merch?
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Originally Posted by Tony Bandana View Post
you dont want me coming around dressed in black homie
Quote:
Originally Posted by TSA View Post
Honestly dude, this is why I want to go to hell. Hell is crackin.
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Originally Posted by Crump Diddy View Post
Did I scare you?
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Old 03-12-2012, 12:52 PM   #97
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Old 03-14-2012, 12:55 PM   #98
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^
lmao. alex jones hates Angelina Jolie
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Originally Posted by Tony Bandana View Post
you dont want me coming around dressed in black homie
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Originally Posted by TSA View Post
Honestly dude, this is why I want to go to hell. Hell is crackin.
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Originally Posted by Crump Diddy View Post
Did I scare you?
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Old 05-27-2012, 12:39 PM   #99
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my own conscious is beyond universal, there is no separation only fagments of experience making sense of physical material existence on the path back to the source of all.

LulZ KillZ Phear....

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"THE ALL is MIND; The Universe is Mental." The Kybalion.


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Old 05-27-2012, 11:38 PM   #100
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hmmm, never stabbed an African b4...
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