Goldman Sachs Charged with Fraud

Re: Goldman Sachs Charged with Fraud

PostBy: jpete On: Sat Apr 17, 2010 4:25 pm

Richard S. wrote:
jpete wrote:there wouldn't be safety violations in his mines.


There isn't mine in this country an inspector couldn't walk into and start writing violations. As I said that is half the trouble.

I don't want to speak for the miners but my guess is you took a vote in this area they give the inspectors the boot.


Probably, but then the miners are responsible for their own safety. And that CAN work but in a non union environment, it's not likely. I heard an interview with a miner down there and he said the difference between union and non union was the ability to say "No".

I'm in a union and that is one of the good things. If a machine or a setup is bad, I can say I don't want to run it without fear of being fired. How many of the non union miners can say that?

These guys are the best people to decide what is or isn't a safe situation. They aren't idiots, they want to go home at the end of the day like everyone else. I'd trust them to police themselves, if they could do it without worrying about losing their job.
jpete
 
Hand Fed Coal Stove: Harman Mk II
Coal Size/Type: Stove, Nut, Pea
Other Heating: Dino juice

Re: Goldman Sachs Charged with Fraud

PostBy: Richard S. On: Sat Apr 17, 2010 4:42 pm

jpete wrote: I heard an interview with a miner down there and he said the difference between union and non union was the ability to say "No".


But there is nothing to show a union mine is safer than non-union. Statistically the Union mines have a slightly less fatality rate, since the overall numbers are so low you really can't draw any conclusion from it.

Anyway lets not get off topic here, back to bashing the bankers and government. :D
Richard S.
 
Stoker Coal Boiler: Van Wert VA1200
Coal Size/Type: Buckwheat/Anthracite

Re: Goldman Sachs Charged with Fraud

PostBy: mikeandgerry On: Sat Apr 17, 2010 5:55 pm

jpete wrote:But what the banks know is that the FDIC was insuring bank deposits, and Fannie and Freddie were insuring mortgages, and they knew the government considered them "to big to fail" so that no matter what they did, it was heads they win, tails we lose.

When I and others say "less regulation", we mean less insurance, less backstopping of these companies.

If the CEO of GS thought he could drive the place into the ground and he'd end up selling pencils on a street corner, do you think he'd invent mortgage backed securities and credit default swaps? Do you think they offer "no doc" loans?

A free market means you are free to fail miserably too. As usual, government has it's thumb on the scale f*cking up the markets.


Yep. Less regulation is more regulation in a true free market system.
mikeandgerry
 
Stoker Coal Boiler: Axeman-Anderson Anthratube 130-M


Re: Goldman Sachs Charged with Fraud

PostBy: JohnMck On: Tue Apr 20, 2010 8:11 am

Hmmmm, Democrats pushing more regulations on the financial sector, and Goldman getting put on every front page in the country. Wonderful timing.
JohnMck
 

Re: Goldman Sachs Charged with Fraud

PostBy: Dann757 On: Tue Apr 20, 2010 12:56 pm

Orrin Hatch commented on the timing of it today. Called it bs.
Dann757