Wednesday, November 20, 2013

Vietnamese Banking Regulation

The Government & Chase agreed another $13 billion will be transferred from taxpayers to other bankers to pretend Chase is being fined.  Since corporations have no money, and all costs are covered by customers (or taxpayers in this instance) Chase of course pays nothing.  As to anyone being responsible for anything, well, no.

Vietnam has a different view.
Vu Quoc Hao, 58, the one-time chief of a finance subsidiary of the state-owned Vietnam Agribank and building firm boss Dang Van Hai, 56, were sentenced to death on Friday, according to state television.
And we should note that is spite of its martial glory, Vietnam is quite modern in effecting punishment.
Vietnam resumed executions by lethal injection earlier this year, drawing criticism from the UN's human rights office.
USA is generally considered free of bribes and corruption because we say so.

We outsource many things in USA.  Perhaps we should outsource banking regulation.

But better yet, get the state out of banking.  Then there is no ability to concentrate such opportunity to be wicked.

 Feel free to forward this by email to three of your friends.


0 comments: