« Economic Depression isn't an Apocalypse! | Main | Setser »

March 02, 2009

Comments

djlewis

My "response" (in advance) to this is..

http://twitter.com/djlewis/statuses/1269847761

zenpundit

Hi John

You wrote:

"everyone at the managerial level of the company would be asked to commit suicide (or be put to death)."

The reason for the subsequent "softness" toward these idiots is not simply societal corruption, though that plays a part but our historical distance from the world of subsistence agriculture.

Part of the reason for lynch mobs or draconian punishments by the government in earlier periods was the general social familiarity with hunger or in many regions, famine. Living close to the edge of existence taught a different meaning of acceptable risk. This is the reason that peasantries the world over resist the introduction of modern farming, equipment etc. What they know may be primitive but it reasonably guarantees eating and from their perspective, the unknown does not.

Our society has come very far from the days when unproductivity meant not eating and the state supports many ppl who refuse to work, albeit not comfortably, alongside those who cannot. It is beyond most ppl's conception that the cast iron safety net of the welfare state could vanish, thus, lethal anger towards AIG and other malefactors does not rise.

djlewis

Punishment -- there's an obvious one for everybody who perpetrated this massive scam...

They should be forced to live out their lives on a Social Security check.

Oh yes... an ~American~ Social Security check, for those financiers (normally) lucky enough to live in nations with decent government-funded retirement plans.

John Robb

Ah, it's even worse than this. The Treasury has just suspended the compensation limits for banks getting TARP bailout money. They claim it was too onerous:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.MKNc.ZKf48&refer=home

Walter

I've said before that I'd like to see the entire length of Wall Street lined with crosses. The rotting corpses of crucified traders and financial executives would perhaps have a salutary effect on those people who might still be tempted to gamble with other people's life savings. Or perhaps not; perhaps such people are immune to deterrents.

At any rate, we won't ever see justice meted out by the government; any justice will have to come from the mob, and frankly I doubt there will be much handed out in the end -- the fraudsters will successfully walk away, rich and self-satisfied. It's no longer even worth getting outraged about, or even thinking about.

The comments to this entry are closed.