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Rogue Herries

Okay, I know I am not the tartest pickle in the barrel. Especially when it comes to economics, a field at which I have less knowledge than a decorative starfish. Even if I didn't know that already, I would realize it because whenever I suggest that the solution to some problem of market capitalism is not necessarily more market capitalism, someone shows up here to tell me that I am wrong x 3.

But come on, seriously, what the fuck.

I mean, okay, I can see this happening once. I can even see it happening several times before people really got used to the pattern, back when it was a new and surprising thing. But after the fourth or fifth time it happened, wouldn't the banks kinda wise up to this shit*?

Because here's the thing. Wal-Mart can employ a dude to look in on the guys in the storeroom to make sure they're not playing fantasy football instead of unloading Chinese plastic, and the consequences of that lost time is pretty minor. My company can monitor my internet use to make sure I'm not spending too much time dicking around on eBay, and the worst that could happen if I stop doing my job altogether is that a textbook is a week late. So wouldn't you think that, if you had in your employ a guy who, if he's screwing around on the job, he could lose your company $7 billion and help plunge the entire world into a financial crisis, you might just keep a close eye on that motherfucker?

*: Unless, of course, the banks already know about them and don't do anything as long as it's profitable! HA HA BUT THAT WOULD NEVER HAPPEN

Comments

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tx_cronopio
Jan. 27th, 2008 12:55 am (UTC)
I know I am not the tartest pickle in the barrel.

Who told you THAT? :)
ludickid
Jan. 27th, 2008 03:45 am (UTC)
Some other pickle.
rxrfrx
Jan. 27th, 2008 03:23 am (UTC)
Motherfucker cut my savings APY!
ludickid
Jan. 27th, 2008 03:47 am (UTC)
My 401(k) lost like a thousand dollars for every accent mark in "Jérôme Kerviel, a former trader at Société Générale".
perich
Jan. 27th, 2008 01:50 pm (UTC)
"made bad bets on stocks and then, in trying to cover up those losses, dug himself deeper into a hole."

Why would the bank punish him for doing something that just about every bank in the free world was doing for the last 36 months? Dollars to donuts* one or more of his managers discovered this scam 4 to 8 months ago, and there was a quiet conference after everyone else had gone out for crepes and wine, in which it was determined that, "so long as we don't tell anyone and the market rebounds, this will all be okay."






* Is this still a favorable exchange rate?
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ludickid
Gun-totin', Chronic-smokin' Hearse Initiator
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Leonard Pierce is a freelance writer wandering around Texas with no sleep or sense of direction. If you give him money he will write something for you. If you are nice to him he may come to your house and get drunk.

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