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> In the US we tend to take for granted how much a functioning regulatory system Really? Which people are in jail because of the mortgage fraud? And Jon Corz
by jpdoctor 14y ago
> In the US we tend to take for granted how much a functioning regulatory system
Really? Which people are in jail because of the mortgage fraud?
And Jon Corzine's MF? Who is going to jail because of that?
I find that the US has pockets of enforcement.
- bubbleRefuge 14y agoGreat point. And, I would add, the statue of limitations is about to run out on prosecutions for the mortgage crisis which has had practically zero convictions. The savings and loans crisis of late 80's had 1000 felony convictions. We maybe on our way to being like Brazil.
- vannevar 14y agoMy point wasn't that there isn't corruption in the US, or that there is a remedy for every bad act. Only that there is recourse here for the kind of graft the article describes, and that many in the US don't fully appreciate what a so-called 'free market' really looks like.