Why is no one in jail? Why are the only rule changes are those contained in the Frank-Dodd legislation that is one, watered down, and two, doesn’t go into effect for months or years?
The financial fraud is so blatant. Why is nothing being done?
Aside from bank lobbyists and government agencies wanting to keep the status quo, groovygirl is starting to wonder if it is something else. What if the crime is not being punished because if it was, the whole system would come crashing down? That we would find out we have no money in the bank, no pension, no 401k, no government debt, no stocks, no paper assets, since every tangible asset, stock, and real capital is leveraged, bet, and promised in various financial contracts 10, 20, 100 times over?
The $600 trillion in derivatives alone could explode the global financial system, banking system, and all fiat currencies.
GG isn’t even counting in the fiat currency issues.
GG thinks this is why no one will be prosecuted, no rules will change, and they will continue down the same road until it all blows up.
You will have to protect your own finances.
Update Dec. 1, 2011: Jim Sinclair shares his thoughts on this subject. Click here.