Why Do You Obey The Law When They Don't Have To?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2013-03-07 17:35
by Karl Denninger
in Corruption
Ignore this thread
Why Do You Obey The Law When They Don't Have To?
 

Yes, that's the question to consider.

Why do you obey the law, when the largest financial institutions in the United States break the law at will?

Serious laws.  Laws against, for example, money laundering for drug gangs -- the same gangs that buy guns with that money and shoot innocent people.  

These are the same supervisors and department (Treasury), I remind you, that run the BATFE.

These are laws that would land you or I in prison for decades were we to similarly violate them.

These institutions simply get a fine that they can (and do) lay off on their customers.

This is how civil wars occur -- when injustice reaches the point that certain "big people" get to break the law with wild abandon while ordinary people violating the same or similar laws are arrested, indicted, tried, convicted and imprisoned.

Discussion below (registration required to post)
 

Main Navigation
Full-Text Search & Archives
Archive Access
Get Adobe Flash player





Blogtalk 3:30 CT Mondays
Items To Look At


Discuss The Capital Markets along with daily technical analysis with our Gold Donor program.

Where We Are, Where We're Heading (2013) - The annual 2013 Ticker

Links and Blogroll
Our policy on reciprocal links: Send us an email with your information and why you think your blog or news site would make a good addition - in most cases reciprocal link requests will be granted.
Seeking Alpha Certified
Legal Disclaimer

The content on this site is provided without any warranty, express or implied. All opinions expressed on this site are those of the author and may contain errors or omissions.

NO MATERIAL HERE CONSTITUTES "INVESTMENT ADVICE" NOR IS IT A RECOMMENDATION TO BUY OR SELL ANY FINANCIAL INSTRUMENT, INCLUDING BUT NOT LIMITED TO STOCKS, OPTIONS, BONDS OR FUTURES.

The author may have a position in any company or security mentioned herein. Actions you undertake as a consequence of any analysis, opinion or advertisement on this site are your sole responsibility.

Looking for "The Best of Market Ticker"? Check out
Ticker Classics.

Visit the forum to discuss this and other investing-related topics; see the FAQ on the forum for information about Gold Donor status including access to our technical analysis video server.

Market charts, when present, used with permission of TD Ameritrade/ThinkOrSwim Inc. Neither TD Ameritrade or ThinkOrSwim have reviewed, approved or disapproved any content herein.

Market Ticker content may be reproduced or excerpted online provided full attribution is given and the original article source is linked to. Please contact Karl Denninger for reprint permission in other media.

Submissions may be sent "over the transom" to The Editor at any time. To be considered for publication your submission must include full and correct contact information and be related to an economic or political matter of the day. All submissions become the property of The Market Ticker.

Leads on stories of current economic and political interest are always welcome. Our fax tip line is 850-897-9364; please include contact information with your transmission.

 
Comments.......
User: Not logged on
Login Register Top Blog Top Blog Topics FAQ
Showing Page 1 of 4  First1234Last
User Info Why Do You Obey The Law When They Don't Have To? in forum [Market-Ticker]
Asimov
Posts: 103942
Incept: 2007-08-26
Gold
East Tennessee Eastern Time
Online
Report This As A Bad Post Add To Your Ignored User List
smiley

----------
It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
Blurtman
Posts: 563
Incept: 2009-01-24


Banned
Report This As A Bad Post Add To Your Ignored User List
God Bless You, Elizabeth. God Bless You. This is a real damn American.

Kill the bankers!

----------
I have a reading comprehension problem and the owner banned me for repeatedly displaying it after being warned.
End_the_bubbles
Posts: 9519
Incept: 2009-03-25
Green
The New 3rd World
Report This As A Bad Post Add To Your Ignored User List
Blah blah blah. IMO, Elizabeth Warren is simply the female equivalent of Ron Paul. She just talks a good game, but nothing ever changes in how the crooks play the game........

----------

In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
John_galt
Posts: 305
Incept: 2013-02-14

Report This As A Bad Post Add To Your Ignored User List
"Why Do You Obey The Law When They Don't Have To?"

We don't want to get droned in our sleep?
Goforbroke
Posts: 5339
Incept: 2007-11-30
Gold A True American Patriot!
Just call me 'Comrade'
Report This As A Bad Post Add To Your Ignored User List
I hate to sound cynical, but all of these players have honed their respective roles to a "t."

----------
We have met the enemy and it is us. -- Pogo
Noodleman
Posts: 2389
Incept: 2008-11-01

Report This As A Bad Post Add To Your Ignored User List

****, this is getting comical.

This is like the Mayor of Transylvania questioning the town council why Dracula is not being prosecuted for stealing gallons of blood from the town blood bank. And the response is: "It not our job".

I watched the people seated in the background while Warren asked her questions and while those hacks provided their alibis. Look at them. heh. Totally straight faced looking like ******* zombies. Had I been in the room I would have a grin from ear to ear during that entire 7 minute plus conversation and I would blurt out occasional bouts of laughter. And I guess that's why I would never be seated in that room and would never be on a government payroll collecting a nice paycheck for the privilege of being there.

If any one of us ran a nickle and dime laundering operation from our homes and the Feds caught wind of it - they would seize every single asset we owned (bar none) and we would have to prove in a court of law it wasn't purchased with illict drug proceeds to get it returned. And it's my understanding that laundering dope money is punishable upon conviction by a minimum mandatory of 10 years.

We've really gone off the deep end. I don't see any hope of restoring integrity or justice at this point in time. It's over. Truly, it is.

----------
"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935

Fishhead
Posts: 104
Incept: 2011-05-21

Rogues Island
Report This As A Bad Post Add To Your Ignored User List
Lie-awatha Warren is no heroine.

She's just raising her rate of tribute from the TBTF.

Fauxcahontas wants to hit the big time cash from all her new donors.
Gamma
Posts: 5554
Incept: 2008-01-20
Gold
Northern CA
Report This As A Bad Post Add To Your Ignored User List
An absolutely valid question. The answer is nothing anyone does not know.

Access to legal defense/attack is a matter of the availability of throwaway financing. For BigBankCo to undertake a legal defense is a matter of utilizing staff lawyers and is thus a deductible expense, or a "cost of doing business". Even if they have to call a Tyrranosaurus consultant at $1200 an hour, the stakes are probably worth it.

For 99.5% of others, though, legal work (including coffee breaks) goes by at a $350-$450 an hour clip for non-genius legal work. Most people cannot withstand that. And the stop-loss terminates the effort as is, where is. I just got ripped off for an estate specifically willed to me to the tune of $465K. CA has just about the most presumptive and yet cogent estate law there is. In CA, if a non-relative inherits an estate over a blood relative, there is an automatic presumption that elder abuse or fraud has occurred. Does this help? Not when every point must be litigated at about $2500-$3500 per hearing. The temp restraining order against the thief's bank account in my case cost about $30K and took enough time so that the perp drained (an additional) $150K while the papers were being shuffled. The presumptions in CA law benefitted me not one iota. My atty was not able to perfect the TRO, hence it simply expired, as TROs do. My costs: $37K. My recovery: $40K. Yep, lots less than a penny on the dollar.

The law does not enforce itself. Only for criminal law. In civil law, the result you want is strictly a matter of how much representation you can cough up and whether you are willing to lose it.

I say again: The law does not enforce itself.

----------
This stuff we're going through, this is nothing compared to the Middle Ages.
They told me if I voted for John McCain, an idiot would be a heartbeat away from the presidency. Sure enough...
Apotheoun
Posts: 1283
Incept: 2009-08-14
Gold
MN
Report This As A Bad Post Add To Your Ignored User List
This is a very tough question to answer and the only answer is that the rules are different. I cannot break the law because I value not being in jail. That being said if I can break the law and know for a fact i will not get caught and it isnt a moral evil... you better believe it.

----------
"when despair is all you can see, the end is finally near."
"Because there is some good left in this world, AND ITS WORTH FIGHTING FOR!"
Xkn
Posts: 18
Incept: 2011-04-30
Green
Report This As A Bad Post Add To Your Ignored User List
BATFE used to be under Treasury, but is now under DOJ. The reason for BATFE to
exist, if at all, is to regulate ATFE from the standpoint of interstate commerce, and not collect fees and taxes for alcohol, which is, I presume, a reason why initially it was under Treasury. The logical thing would be to move it under Department of Commerce, but as disarmament of populace became a fixation among the successive US governments, with a presumptive criminalization of anyone who owns a firearm, it only made a sense to move it under DOJ, since confiscation and prosecution can be handled under one roof. After all DOJ cannot investigate DOJ. Makes things helluva more practical. These types of "Aktions" must be thoroughly done and are best handled by a single dedicated Sicherheitsdienst organization.
Dbcooper
Posts: 7729
Incept: 2009-05-12
Green
PNW
Report This As A Bad Post Add To Your Ignored User List
Exactly right Noodleman,my younger brother and two close friends and about a dozen other friends went to Federal Prison for Money Laundering which was brought down to conspiracy all recieved four years except the two that sung like birds,,all they did was grow weed and sell it among friends but the circle got too big,so they stopped,but that didnt stop the Feds spending over a million dollars investigating them,to the point they posed as lawn care people for neighbors.

In the predawn raid of five houses they walked away with less than an ounce of weed,,,was it worth it for the Fed's to do that? no way,plus it caused hardship to a number of these guys when they first got out,a few others went the other direction and have been in and out of the system ever since.

They dont need evidence,they can convict on heresay,i know,i saw it.

----------
"The rules were simple: Never pay in cash, never tell the truth and never play by the rules"
Olduser
Posts: 287
Incept: 2009-09-11
Silver
Mile High
Report This As A Bad Post Add To Your Ignored User List
Why Do You Obey The Law When They Don't Have To?

Moral compass? fear? beliefs? Because I'm a***** ant and will be arrested, etc.? Hell I don't know, but I have chosen to obey and thats it's own reward. To be frank your question truly*****es me off. It convicts me of my hypocrisy and cowardice.

----------
No, folks, we will not do this voluntarily.
We'll do it the hard way. - Karl Denninger

I only care what is and I just prepare. - Genesis
Dbcooper
Posts: 7729
Incept: 2009-05-12
Green
PNW
Report This As A Bad Post Add To Your Ignored User List
If you can do anything to this beast,the machine,i say fair game and have for more than ten years,,they dont respect me,why should i care about this thing or them? i dont.

----------
"The rules were simple: Never pay in cash, never tell the truth and never play by the rules"
Steelhead23
Posts: 2041
Incept: 2008-09-09
Green
Portland OR
Report This As A Bad Post Add To Your Ignored User List
Shut them down, Senator? Shut them down?! Oh, hell yes, shut them down after the heads' of the banks and everyone involved's are on pikes in front of the bank building. Then - burn the MoFo down. You go girl!

----------
"Give me control of a nation's money and I care not who makes it's laws" —Mayer Amschel Bauer Rothschild Benjamin Bernanke
For-profit commercial banks are a menace and should be eradicated
Ponzi_unit
Posts: 8105
Incept: 2007-09-05
Gold

Online
Report This As A Bad Post Add To Your Ignored User List
I knew this was Elizabeth Warren even before you posted the thread! So the question is, WHO IS responsible for bringing cases to court and how long can she stand on her feet?

----------
Taxpayers witnessed a crime and stayed around long enough to get charged with it.
Briar
Posts: 5377
Incept: 2008-02-07
Gold
Palm Springs, CA
Report This As A Bad Post Add To Your Ignored User List
Bubbles, she's doing pretty good for two months in the Senate! Give her time, dammit!

----------
Religion is what keeps the poor from murdering the rich.
Napoleon
Jslique
Posts: 466
Incept: 2008-07-28
Silver
Melbourne
Report This As A Bad Post Add To Your Ignored User List
there is just not enough people doing it hard to make a difference to any of it.
Until then when the people demand a change will it happen. But history shows that the savior may not be that at all.
Meanwhile talk from politicians is cheap.
Crzymorse
Posts: 1189
Incept: 2010-06-25

Maryland
Report This As A Bad Post Add To Your Ignored User List
Thats one*****ed off Native American.

I would have three follow up questions.

1) Can I please see the cancelled check for the fine money? I believe it was for $1.9B.

2) If the fine was paid was the money rehypothecated unknowingly from someone elses deposit account?

3) Did anyone even get fired for criminal behaviour. If not, the CEO and CFO should be liable under Sarbox. They were aware of the inquiry, signed off onthe fine then negliently left the employees in their current job. They can't claim ignorance.
Duc888
Posts: 7368
Incept: 2008-11-06
Gold
CT, the UNconstitution State
Report This As A Bad Post Add To Your Ignored User List
The whole thing if a funny dichotomy. Each side viewing the other as useless leach****s. There is no middle ground here. At this point laws are for morons.

----------
...burp

Eli
Posts: 7193
Incept: 2007-09-10
Silver
Report This As A Bad Post Add To Your Ignored User List
There is no such thing as "the law" in this country, there is only power.

The law is just a tool of the powerful to be used at their whim to control the masses.

----------
If you want a vision of the future, imagine a boot stamping on a human face - forever.
George Orwell

Nevertoolate
Posts: 1219
Incept: 2007-08-26
Gold A True American Patriot!
San Antonio de Bexar de runover with illegals, Texas
Report This As A Bad Post Add To Your Ignored User List
Take a look at the contributions she gets. If they send her lots of $, this was nothing more than an opening fundraising event. I will believe there is a change when I see banks closed then liquidated and ceo's doing long term jail time. Until then, it's just BS. Someone has got to go to jail. Do it once or twice and it will stop. Anything less and this is a circle jerk!

----------
"Socialist never mind stealing, as long as they are the ones doing the stealing. They never mind lying, as long as they are doing the lying."-Mannfm11

Before you attempt to beat the odds, be sure that you can survive the odds beating you.
Frat
Posts: 1935
Incept: 2009-07-15
Silver
NKY
Report This As A Bad Post Add To Your Ignored User List
I understand decorum, but she was WAY too ****ing nice. After the third time that curly haired little bitch-weasel ignored her question, she should have been slamming her fist and screaming for blood. These ****ers ALL need to burn. Her example was beatiful - ounce of cocaine for a normal person? EXECUTION! Launder billions for the guys who make it? Pay a bribe and go on with business!

----------
We're ****ed. Where's Henry Bowman when you need him?
Crzymorse
Posts: 1189
Incept: 2010-06-25

Maryland
Report This As A Bad Post Add To Your Ignored User List
The problem if you shut the bank down is the shareholders get completely ****ed. Nothing like your low cost index fund taking it in the ass because of a bunch of criminals. The algorithm should be eliminate the bonuses, fire the board and upper management. Eliminate those performance bonuses and the place would clean right up. HR would do a much better job hiring as well. The incentives should reward lawful behaviour.
Jack_crabb
Posts: 2406
Incept: 2010-06-25
Gold
Peoples' Republik of Maryland
Report This As A Bad Post Add To Your Ignored User List
So, to summarize, Treasury has nothing to do with criminal violations, that is the function of Dept of Just-Us?

We're ****ed. That lazy, shiftless POS at Just-Us won't do ****.

----------
Molon Labe

Where is Henry Bowman when you need him?
Login Register Top Blog Top Blog Topics FAQ
Showing Page 1 of 4  First1234Last