Comments on: “Anything Goes” Capitalism Destroys Companies and Workers’ Lives http://blog.usw.org/2009/10/07/%e2%80%9canything-goes%e2%80%9d-capitalism-destroys-companies-and-workers%e2%80%99-lives/ USW Fighting Globally For Workers' Dignity Mon, 06 Feb 2012 15:09:19 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: gspencer http://blog.usw.org/2009/10/07/%e2%80%9canything-goes%e2%80%9d-capitalism-destroys-companies-and-workers%e2%80%99-lives/comment-page-1/#comment-178 gspencer Tue, 13 Oct 2009 18:44:01 +0000 http://blog.usw.org/?p=1155#comment-178 I believe that Martin Luther King stated something to the effect that "Everything that Adolph Hitler did in Germany was legal." I believe that all of these financial transactions were probably legal. We need to change the laws if we want these actions to be illegal. The financially astute and highly successful Arthur Anderson/Enron group and their leaders here in Houston, filed fictional, false, and/or deceptive financial statements with the Security Exchance Commission that they swore to represent the truth. They successfully perjured themselves when testifying about financial facts, and generally lied about almost every compliance document that they created and submitted to the SEC for many years. It was a miracle that these criminal actions were even discovered. The officers and leaders suffered very little penalty when they finally did get caught and subsequently convicted. They will not rot in prison until they die as a deterrent to future prospective Financial Genius "Master Criminals". The financial practices of our Enron executives, Bernard Madoff, Allen Stanford, and many other Wall Street financial wizards are also examples for the current business school students to study and learn how these people got rich, to emulate these people in their own financial careers without being caught. These Students will mainly study to learn how to avoid being caught while amassing their own financial fortunes. I believe that Martin Luther King stated something to the effect that “Everything that Adolph Hitler did in Germany was legal.”

I believe that all of these financial transactions were probably legal.

We need to change the laws if we want these actions to be illegal.

The financially astute and highly successful Arthur Anderson/Enron group and their leaders here in Houston, filed fictional, false, and/or deceptive financial statements with the Security Exchance Commission that they swore to represent the truth.

They successfully perjured themselves when testifying about financial facts, and generally lied about almost every compliance document that they created and submitted to the SEC for many years. It was a miracle that these criminal actions were even discovered.

The officers and leaders suffered very little penalty when they finally did get caught and subsequently convicted. They will not rot in prison until they die as a deterrent to future prospective Financial Genius “Master Criminals”.

The financial practices of our Enron executives, Bernard Madoff, Allen Stanford, and many other Wall Street financial wizards are also examples for the current business school students to study and learn how these people got rich, to emulate these people in their own financial careers without being caught.

These Students will mainly study to learn how to avoid being caught while amassing their own financial fortunes.

]]> By: gspencer http://blog.usw.org/2009/10/07/%e2%80%9canything-goes%e2%80%9d-capitalism-destroys-companies-and-workers%e2%80%99-lives/comment-page-1/#comment-177 gspencer Tue, 13 Oct 2009 18:30:26 +0000 http://blog.usw.org/?p=1155#comment-177 What is the common thread to the managers of these business failures? Educations? Experience? Technical Product Manufacturing Knowledge? Why not let these businesses go bankrupt, and let some private party or private business entity buy the business's facilities, patents, copyrights, manufacturing equipment and etc. at whatever a public auction might bring (pennies on the dollar), and then they could re-start each manufacturing business. This might be self correcting since the purchaser would have to know something about mattress making, or the enterprise might probably again fail. The stockholders deserve to lose their entire investments. This would cause potential investors to lose confidence in the "Financial Geniuses" and "Master Criminals" that manipulate these types of transactions. The criminal penalties for swearing falsely to financial statements filed with the Securities and Exchange Commission by the various "Financial Geniuses" and "Master Criminals" in order to inflate their stock prices (and their personal stock option benefits) should be increased and enforced with additional vigor. What is the common thread to the managers of these business failures? Educations? Experience? Technical Product Manufacturing Knowledge?

Why not let these businesses go bankrupt, and let some private party or private business entity buy the business’s facilities, patents, copyrights, manufacturing equipment and etc. at whatever a public auction might bring (pennies on the dollar), and then they could re-start each manufacturing business. This might be self correcting since the purchaser would have to know something about mattress making, or the enterprise might probably again fail.

The stockholders deserve to lose their entire investments. This would cause potential investors to lose confidence in the “Financial Geniuses” and “Master Criminals” that manipulate these types of transactions. The criminal penalties for swearing falsely to financial statements filed with the Securities and Exchange Commission by the various “Financial Geniuses” and “Master Criminals” in order to inflate their stock prices (and their personal stock option benefits) should be increased and enforced with additional vigor.

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