[ExI] Belief in Market Efficiency
thespike at satx.rr.com
Sat Jan 31 06:47:18 UTC 2009
At 09:58 PM 1/30/2009 -0800, Fred wrote:
>somebody has been spreading a rumor that the communists hold that some
>are more equal than others.
The curious thing is that almost every ideology these days, in
practice even when not explicitly in theory, holds the same view.
E.g.: Bernard Maddoff (not known to be a communist) vs. Roy Brown:
Bernard Madoff ran a 50 billion dollar Ponzi scheme. Over the
Christmas season he attempted to send jewellery to his sons and the
prosecutor suspects that he is busy trying to hide assets. At least
one man has already committed suicide upon learning of the money that
he lost by investing with him. Bernard Madoff is yet another example
of the ways in which whiteness is privileged in the justice system.
Many who invested their life savings with him are on the verge of
financial disaster. To him his victims were just faceless entities
but the people <http://primebuzz.kcstar.com/?q=node/16589>who had
their retirement savings invested with him, counted on him to be
honest in his dealings. Here we have a man who ran one of the
biggest financial scams of all time and where is he sleeping - in his own bed.
Let's do a comparison between Bernard Madoff and 54 year old Roy Brown.
A man who said he robbed a downtown Shreveport bank because he was
out of a job and hungry has been sentenced to 15 years in prison for
Roy Brown, 54, of Audrey Lane, pleaded guilty in Caddo District Court
to robbing the Capital One bank in December 2007. Brown admitted
walking up to a teller with one of his hands under his jacket and
telling her it was a "stickup."
The teller handed the man three stacks of bills and he took a single
$100 bill, told her he was homeless and left, police said.
Brown surrendered to police the next day, telling them his mother
didn't raise him that way.
Police let him sober up and interviewed him two days later. Police
said Brown told them he needed money to stay in a downtown detox
center, had nowhere to stay and was hungry -- so he walked up the
street and robbed the bank.
Here we have two vastly different interactions with the justice
system; a black man who turned himself in after stealing one hundred
dollars because he hungry and Madoff who stole billions to feed his
greed and ego. How does the man who stole 100 dollars out of a sense
of desperation merit 15 years in jail, while the billionaire sits in
his luxurious home surrounded by his ill gotten gains? Someone want
to tell me again about how blind the justice system is?
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