Saturday, July 09, 2011

Prison Planet.com � There’s No Recovery Because the Government Made it Official Policy Not to Prosecute Fraud

Prison Planet.com � There’s No Recovery Because the Government Made it Official Policy Not to Prosecute Fraud: "Fraud caused the Great Depression and it has caused the current financial crisis. But fraud is not not being prosecuted, and so it will occur again and again, and prevent a sustainable economic recovery.

Numerous economists have been saying this for years. As I pointed out in March:



Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future. Indeed, William Black notes that we’ve known of this dynamic for “hundreds of years”."

No comments:

Post a Comment

Note:
The 'Reader Responses; shown on many posts/articles are almost always worthwhile reading.

Often, the comments by readers enhance the posted article greatly, and are informative and interesting.

Hopefully, all will remember to read the reader comments, and post their own as well.
Thanx
*****