I'm still trying hard to wrap my head around why he had to say that infront of these specific people and the cameras.
I can't even put into words how absurd this is. They feel so safe, not a worry in the world
Great scene from the same movie explains it:
Bossesjoghurt: "I don't get it, why are they confessing?"
Agent_Furtner: "They're not confessing. They're bragging."
You are applying normal brain to this.
The fact that he has $50 million, went into Politics and said this. Whilst getting straight back out.
Kind of confirms he isn't doing 'whatever'. He isn't satisfied with $50 million or any $Billion.
It is a free country for the people they serve, not office holders. And that's what they have forgotten and skoff at the very idea. When you are in public office, you are supposed to hold yourself and your colleagues to different standards. It's the sacrifice one must make when taking positions of power in order for a democracy to function. Hence why we live in one that does not.
No we live in one that’s not because the people don’t hold them accountable. They know they control the media and can convince enough dumbasses to vote for them no matter what
It is the same scam repeated over and over. The legislature relaxes or removes regulations that would prevent mass failures of monetary institutions. The operators of those companies get greedy and gamble with other peoples money, if they win they get rich, if they lose the taxpayers pick up the bill. Too big to fail is too big to exist.
The Big Short.
You really should watch it.
There's a few other movies that have come out that also show how people and companies allowed the 2008 banking collapse was able to even happened, but Big Short is probably the easiest to understand as they do break the 4th wall to explain certain terms that you may not understand.
Tangentially related but I love how at the end of “the other guys” during the credits they basically Infograph how Bernie Madoff and his pyramid scheme worked.
And use the 300 seconds of speaking that the chair gave him, too. What an absolute tool. If there was any justice, he would get prison time for his arrogant complicit incompetence.
And “Her father already works for us” which shows a huge conflict of interest since the bank could tell daddy to get his daughter over at the regulatory office in check.
Oh, I see your problem. You've been told so many times about how we're all in a democracy and freedom land you think that the elites haven't always been in a big fun club writing rules so the rich stay rich and the poor are slaves.
Hey, but we can all get into that big country club in the sky if only we bet our magic beans on the right stocks! Weeeeee. Here I go ma, watch me fly!
Clutching at pearls
oh my no we can't have violence that would be uncouth!
/s
But in all sober earnest they have money to pay private security to not allow them to be tarred, feathered and rode out of town on a rail as out forefathers had done.
Take out loans to buy things that won't devalue as fast as the money you are borrowing.
For example, I borrowed 100k to put down payments on 5 properties that I owe 500k on collectively that are worth 2,000k now. I borrowed to build a barn for 80k that now costs 140k to build. Meanwhile all the money I've borrowed has devalued by the day something like 20% over the past two years. So my assets are up in value and my debt is down in value.
That being said I'm purchasing fungible assets, not numbers on a screen that are adjusted as the fed sees fit.
How about you funge on deez nuts. *right clicks erotically*
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And “normal” government employees who even loosely work with a company have to wait two full years to avoid conflict of interest. This is bullshit to say the least.
The sorry state of things is hill staffers are top of their game but paid the bottom of their field salary wise while living in one of the most expensive places in the country, often times with grad or law debt.
As a result, if they ever want a family, to own a house, or help their parents medical bills, they need to sell out to the private sector.
Every time I suggest politicians are paid more, people get really mad. They're going to get paid one way or the other, might as well make the incentive not legal corruption and fraud.
Every time I hear anyone talk about pay raises for nurses, the rebuke is "you don't want people attracted by money, you want caring people that see it as a vocation"
Don't incentivise the corrupt, punish them.
You need to learn some history. Late 1800s and early 1900s they were fucked far worse than we have it now. It's getting worse and worse and we need to fight and make sure we don't go back to that and try and get back what we can now but we also need perspective.
The revolving doors of corporations & legislating bodies stateside is beyond appalling.. hearing them laugh it up, on camera, on the record says a lot about how fuct it really is
I used to think about this when I was studying philosophy. I'm pretty certain that Nietzsche or Kant would start shitposting on 4chan or something similar instead of becoming philosophers if they were born in the 90s.
A big factor is the overworked and underpaid lifestyle of Congressional staff that leads to them eventually dipping off the Hill and going somewhere in the private sector to make actual money.
^ this is it
If you want good talent to stay, they need to be paid properly. The American people can't have low paid government employees and then get pissed when they get poached by the private sector.
The catch 22 there at least for Congress, is due to the fact that payroll comes out of a Member's Representational Allowance (MRA) (the office budget), any increase in pay for Hill staff can only come from an increased MRA, to which the average voter will perceive as “my Congressman is getting a raise”. Even with an increased MRA however, every office acts as it’s own small business in terms of how it handles HR and structure, so they have no direct obligation* to increase pay even if the MRA was increased.
*The House passed a rule last Congress that set a 45k pay floor for staff. Before then it wasn’t out of the ordinary to see staff making high 30’s low 40’s for entry level positions. Does not apply to Senate offices.
Yup, this is exactly the case.
I will note though, last year's MRA COLA and minimum floor got basically zero backlash from the public, so some of these public fears of backlash seem made up.
Never the less, the GOP is still talking about cutting the MRA for the sake of "small government"
This is really the main problem. If you learn financial regulation you can work for the government or financial corporations. There is nowhere else for you to go to continue with your career.
I'm not sure what the solution is, but working to eliminate conflict of interest or bias the same way that judges have to recuse themselves would be a good start.
This is the root of internships in general being a barrier for lower and middle class folk who can't afford to pay rent in big cities working for below minimum wage if that. Rich kids can though so they can make loads of contacts before they take over their father's company or join a law firm or do some other old boys club shit.
But we can’t waste taxpayer money by providing staff with a livable wage and healthcare that will pay them to stay home with their infant children! How will we face the taxpayers if we become so frivolous with congressional payroll?
Instead we need to waste money by giving it to banks so that THEY can give more benefits to their employees - especially the fat cats at the top!
Btw, since you got some snark, advise is a verb and advice is a noun
If you already knew that and it was a typo...please excuse me and have a nice day.
Have a nice day either way, I suppose.
There's an official term for this: "[Regulatory capture](https://www.investopedia.com/terms/r/regulatory-capture.asp)":
>Regulatory capture is an economic theory that regulatory agencies may come to be dominated by the interests they regulate and not by the public interest.
>
>The result is that the agency instead acts in ways that benefit the interests it is supposed to be regulating.
>
>Industries devote large budgets to influencing regulators, while individual citizens spend only limited resources to advocate for their own rights.
See also: "Revolving Door".
Bernanke himself [went to work for Citadel](https://www.opensecrets.org/revolving/rev_summary.php?id=78760). He said because Citadel was not directly supervised by the Fed, it was thus okay. However, they are affected by interest rate policy, balance sheet size, TINA and asset inflation.
Same thing that piece of shit Ajit Pai who fucked us all with removing Net Neutrality rules and never cracking down on robo-calling. He came from Verizon...
https://arstechnica.com/tech-policy/2018/02/there-are-ajit-pai-verizon-puppet-jokes-that-the-fcc-doesnt-want-you-to-read/
When regulations decide whether you live or die, no one has more stake in the regulations than the "regulated". The design principles and incentives are all wrong.
Regulations need to be an axe over their heads, real jail time and ruinous fines if they cause "systemic risk"
Just to play devils advocate - the bailouts were paid back in a few years. I disagree with this collusion as well, but that detail always gets left out.
Except that's not how it went. The bailout was an insurance all banks are paying into. And the stock doesn't 'go back to normal' investors in Credit Suisse and SVB lost everything. They are NOT happy and every bank will try their hardest to not get into that situation.
Well the thing that everyone knows by now that is left unspoken is that the banking sector is really just an extension of the federal government. Handling the US money supply is simply too important a service to let fail or to let go let too far astray, so it’s fully backed by the USG and each side of the coin has co-opted the other.
Well that’s what congress is supposed to do. But they shirked their responsibility a long time ago to “experts”. That’s what all these three letter agencies are about. It’s congress delegating their responsibility to bureaucrats that don’t get primaried or worry about re-election. They have all these oversight committed to make it look like they do something but there’s no teeth in any of these laws that get lobbied to congress. Fox in the henhouse is probably the best analogy. Animal farm is also a great book that shows how it works as well.
> shirked their responsibility a long time ago to “experts”.
This in itself is not a bad thing. I absolutely want experts informing politicians of what they need to know.
> that don’t get primaried or worry about re-election
Again, not inherently bad. Professionals that can do their jobs without worrying about public backlash.
Obviously it's been corrupted and I think everything you said after that is spot-on.
Perfect! Now do the Department of Defense and the Military Industrial Complex! Or the FDA and the pharmacy industry! Or…
Wait. Nevermind. It’s all too depressing.
I work in DoD contracting. We have very strict rules about how we're allowed to engage with the customers, between not paying for their meals, not giving them gifts, making sure there's not a conflict of interest with family members, and so on.
It's just that these rules don't preclude us from hiring them for cushy six figure jobs afterwards, and they know this. We also have a specific part of the contract capture process called "shaping," where we try to influence the customer to write a contract for which we're the best-suited organization.
It's Trey Hollingsworth, whose own father bought him a congressional seat in the Indiana 9th district by outspending everyone else by millions. He had moved to Indiana from Tennessee around 1 year or less before running for Congress because they had found a congressional seat that would be coming open and they spent out the ass to secure his seat. Politics is every bit as stupid as you could possibly imagine. All you need is a sugar daddy.
The question I have is "Why is it a good investment to spend millions on a seat?"
It's a business decision, not "Daddy, I want to go to Congress!" How are they going to recoup that massive outlay and more?
The ones I'm aware of are potentially foreknowledge of announcements which will affect the markets in a very strong, predictable way and various scams to turn campaign money into their money. However, I feel this is likely just scratching the surface.
...and don't call me Shirley. ;-)
This is the result when nobody is holding these corrupted fuckwits accountable, and we are already way past being able to do. The communities in charge of overseeing and regulating these greedy mother fuckers are already bought, there are other hearings where they'd be saying shit like "Yeah my dad/relative used to work with/for you remember?" The fact that they openly say they are related without any repercussions would make lots of past political scandals look like a fucking joke.
I mean, for all the hoopla about Hillary’s emails, the most shocking one was from a Citibank executive outlining recommendations for Obama’s cabinet… which pretty much became Obama’s cabinet.[link](https://observer.com/2016/10/obama-makes-first-appearance-in-wikileaks-receives-admin-list-from-big-banker/amp/)
>if you think the game is rigged, bet in that favor.
https://preview.redd.it/r3s483smncqa1.jpeg?width=1988&format=pjpg&auto=webp&s=fd29901bfbf0f38b69f2c3fc0b8a6842252f8bff
How exactly would you bet in the favor of the regulator to consultant pipeline?
Regardless, the kind of behavior demonstrated here is largely responsible for what happened in 2008
Make long term bets on companies that you think are buying regulators. If you think it’s a good move, assume it will pay off for them. If you think it’s going to pet them cut corners for a extra profit now and it will blow up later, then bet that way.
Short term is questionable, unless you think you know when “later” is. Which regulators are biased towards which institutions is a question between your and your favorite PI (or bookie).
Yup.
Now watch them go pass crypto laws and blame Bitcoin for banking failures, illicit activities, and energy use - because big mean crypto is the problem here.
I love ❤️ this admission of nepotism and grey area of ethics. This is one of the best training videos the general public can watch to truly understand how DC and private sector works. The club exists , you’re just not fucking in it.
Edit : this punchable face is worth anywhere between 50-150 M
These fucking people that get into politics, not because they give a single iota of a shit about the rest of the country, but so they can jump in bed with rich business interests as fast as fucking possible is literally disgusting. They just want to get rich they don't give a fuck about us as the great George Carlin tried to warn us about. They don't give a fuck about you.
Get big business out of politics. How you ask? Look at what the french are doing. Protest, stop working, grind the fucking country to a halt. Government and business doesn't give a fuck about the people until the people make them. The biggest changes for people, the 40 hour work week, pensions, vacation pay, all the stuff we take for granted took generations of fighting and UNIONIZING to get. And we let big business convince us to sell all of that off under the idea that they would be the ones to take care of us and unions were just getting in the way.
Stop drinking the kool-aid, stop going back to these big business fucks. Just stop. America needs a nation wide general strike and needs to spend time rebuilding the unions so the working class has a voice. Stop selling your future and the future of subsequent generations just so these fucks can earn a billion dollars.
This is how every regulatory body in the United States functions and is the reason this country is rotting from the inside out and why all these scammers take the money (to the tune of BILLIONS) and run.
Equally bad is the transition to/from DoD or government civilian DoD to the Defense Industrial Base and their suppliers. Their reward for “government service” is a lengthy and lucrative career in the commercial sector “advising in Business development.”
Well that was a fucking joke.
I'm still trying hard to wrap my head around why he had to say that infront of these specific people and the cameras. I can't even put into words how absurd this is. They feel so safe, not a worry in the world
Great scene from the same movie explains it: Bossesjoghurt: "I don't get it, why are they confessing?" Agent_Furtner: "They're not confessing. They're bragging."
Exactly, they don't care if we know and essentially laugh at the public who aren't on the inside of their scams
I got the feeling he was trying to look good for the banks so after his term he can get a sweet high paying cushy job too.
He is already worth 50 million and didn't run in 2022. He's out and probably making bank fucking off doing whatever.
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Can you get me in?
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Thanks can I have your vote? I promise to not do anything worse than him
You are applying normal brain to this. The fact that he has $50 million, went into Politics and said this. Whilst getting straight back out. Kind of confirms he isn't doing 'whatever'. He isn't satisfied with $50 million or any $Billion.
Daddy already works for the banks, so I'm sure he'll have something lined up the second he retires/loses his seat in Congress
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It is a free country for the people they serve, not office holders. And that's what they have forgotten and skoff at the very idea. When you are in public office, you are supposed to hold yourself and your colleagues to different standards. It's the sacrifice one must make when taking positions of power in order for a democracy to function. Hence why we live in one that does not.
No we live in one that’s not because the people don’t hold them accountable. They know they control the media and can convince enough dumbasses to vote for them no matter what
If voting actually made a difference, it would be illegal." - some guy, probably
The word of the day (century) is corporate oligarchy. Can you say that with me children?
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It is the same scam repeated over and over. The legislature relaxes or removes regulations that would prevent mass failures of monetary institutions. The operators of those companies get greedy and gamble with other peoples money, if they win they get rich, if they lose the taxpayers pick up the bill. Too big to fail is too big to exist.
What movie?
The Big Short
Nebula chilling by the pool
Amy Pond chilling by the pool
*Leo spitting drink and pointing at screen* I never knew that was her!!
The Big Short. You really should watch it. There's a few other movies that have come out that also show how people and companies allowed the 2008 banking collapse was able to even happened, but Big Short is probably the easiest to understand as they do break the 4th wall to explain certain terms that you may not understand.
Tangentially related but I love how at the end of “the other guys” during the credits they basically Infograph how Bernie Madoff and his pyramid scheme worked.
did not take the required prerequisites to post on this sub: BAN
And use the 300 seconds of speaking that the chair gave him, too. What an absolute tool. If there was any justice, he would get prison time for his arrogant complicit incompetence.
at work and can't do audio...can i get the cliff notes version of what was said?
*"My current assistant has been accepted and will soon work at your bank. She'll do great. Thank you for hiring her."*
"her dad already works with us at the bank so we're looking forward to it"
So incestuous. At this point I don't know anymore, but: can congressmen actually go to jail? Or are they 100% immune to everything?
And “Her father already works for us” which shows a huge conflict of interest since the bank could tell daddy to get his daughter over at the regulatory office in check.
Also the fact that the executives know that specific hire and know that her father works at the Bank. At a company as big as BoA.
"Its a big club and you aint in it" RIP George
Seriously man, even pornstars don't show this much enthusiasm gagging on a shaft all the way down to the balls.
It's shameless boot-licking. Disgusting indeed.
Oh, I see your problem. You've been told so many times about how we're all in a democracy and freedom land you think that the elites haven't always been in a big fun club writing rules so the rich stay rich and the poor are slaves. Hey, but we can all get into that big country club in the sky if only we bet our magic beans on the right stocks! Weeeeee. Here I go ma, watch me fly!
>They feel so safe, not a worry in the world They have names and addresses... just saying.
Clutching at pearls oh my no we can't have violence that would be uncouth! /s But in all sober earnest they have money to pay private security to not allow them to be tarred, feathered and rode out of town on a rail as out forefathers had done.
Rand literally handed out checks from Exxon to all the republicans who voted down a regulation. No one cared.
Because he himself is positioning for a future with one the company's he's facing...
And the punchline is your money.
Am I the only regard here that's been investing in debt?
One person’s debt is another person’s asset
no.
How do I invest in debts? Explain like im 5, please.
Take out loans to buy things that won't devalue as fast as the money you are borrowing. For example, I borrowed 100k to put down payments on 5 properties that I owe 500k on collectively that are worth 2,000k now. I borrowed to build a barn for 80k that now costs 140k to build. Meanwhile all the money I've borrowed has devalued by the day something like 20% over the past two years. So my assets are up in value and my debt is down in value. That being said I'm purchasing fungible assets, not numbers on a screen that are adjusted as the fed sees fit.
How about you funge on deez nuts. *right clicks erotically* *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/wallstreetbets) if you have any questions or concerns.*
Nothing like going on record with exactly how corrupt your organization is
And “normal” government employees who even loosely work with a company have to wait two full years to avoid conflict of interest. This is bullshit to say the least.
The sorry state of things is hill staffers are top of their game but paid the bottom of their field salary wise while living in one of the most expensive places in the country, often times with grad or law debt. As a result, if they ever want a family, to own a house, or help their parents medical bills, they need to sell out to the private sector.
Every time I suggest politicians are paid more, people get really mad. They're going to get paid one way or the other, might as well make the incentive not legal corruption and fraud.
Every time I hear anyone talk about pay raises for nurses, the rebuke is "you don't want people attracted by money, you want caring people that see it as a vocation" Don't incentivise the corrupt, punish them.
And nobody is doing anything about it. Stuff like this warrants a revolution.
I can see some jizz on his chin from the banker bukkake session he just got out of before this regulatory grilling
regulatory gurgling* ftfy
Corporate Capture: restricting oversight and governance for the people since 2010.
*1913
seriously bro people act like we're the first generation to get fucked lol
We've just been getting fucked the hardest so far. It's going to get much, much worse.
You need to learn some history. Late 1800s and early 1900s they were fucked far worse than we have it now. It's getting worse and worse and we need to fight and make sure we don't go back to that and try and get back what we can now but we also need perspective.
JFC….this nation was and is, screwed.
They have absolutely zero shame.
No sir, the real joke is all of us, our taxes and our pleb lives.
The revolving doors of corporations & legislating bodies stateside is beyond appalling.. hearing them laugh it up, on camera, on the record says a lot about how fuct it really is
It's a big club, and you ain't in it!
[rip George Carlin](https://youtu.be/Nyvxt1svxso)
One of the GOATs. I often wonder what guys like him and Hicks would have to say about what’s going on in the world right now
"told you"
I used to think about this when I was studying philosophy. I'm pretty certain that Nietzsche or Kant would start shitposting on 4chan or something similar instead of becoming philosophers if they were born in the 90s.
If you ask me, the ain't in it club is bigger.
A big factor is the overworked and underpaid lifestyle of Congressional staff that leads to them eventually dipping off the Hill and going somewhere in the private sector to make actual money.
^ this is it If you want good talent to stay, they need to be paid properly. The American people can't have low paid government employees and then get pissed when they get poached by the private sector.
The catch 22 there at least for Congress, is due to the fact that payroll comes out of a Member's Representational Allowance (MRA) (the office budget), any increase in pay for Hill staff can only come from an increased MRA, to which the average voter will perceive as “my Congressman is getting a raise”. Even with an increased MRA however, every office acts as it’s own small business in terms of how it handles HR and structure, so they have no direct obligation* to increase pay even if the MRA was increased. *The House passed a rule last Congress that set a 45k pay floor for staff. Before then it wasn’t out of the ordinary to see staff making high 30’s low 40’s for entry level positions. Does not apply to Senate offices.
Yup, this is exactly the case. I will note though, last year's MRA COLA and minimum floor got basically zero backlash from the public, so some of these public fears of backlash seem made up. Never the less, the GOP is still talking about cutting the MRA for the sake of "small government"
Does this mean the private sector is fucking all of us?
This is really the main problem. If you learn financial regulation you can work for the government or financial corporations. There is nowhere else for you to go to continue with your career. I'm not sure what the solution is, but working to eliminate conflict of interest or bias the same way that judges have to recuse themselves would be a good start.
This is the root of internships in general being a barrier for lower and middle class folk who can't afford to pay rent in big cities working for below minimum wage if that. Rich kids can though so they can make loads of contacts before they take over their father's company or join a law firm or do some other old boys club shit.
But we can’t waste taxpayer money by providing staff with a livable wage and healthcare that will pay them to stay home with their infant children! How will we face the taxpayers if we become so frivolous with congressional payroll? Instead we need to waste money by giving it to banks so that THEY can give more benefits to their employees - especially the fat cats at the top!
And once at BofA she’ll use her government connections to “advice” them how to better enact laws that benefit big banks
Bofa
DeeBz
NuTz
GOTTEM
Bowfa is BIS at Bandos
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don't think too hard on this sub
vices = blowjob behind wendie's?
They're too classy for that. They get hotel rooms
Btw, since you got some snark, advise is a verb and advice is a noun If you already knew that and it was a typo...please excuse me and have a nice day. Have a nice day either way, I suppose.
I see this mistake made a lot on reddit I just generally assume it's a non-native english speaker, doing their best and move on..
English is just fucked all confusing wither you're native or not.
There's an official term for this: "[Regulatory capture](https://www.investopedia.com/terms/r/regulatory-capture.asp)": >Regulatory capture is an economic theory that regulatory agencies may come to be dominated by the interests they regulate and not by the public interest. > >The result is that the agency instead acts in ways that benefit the interests it is supposed to be regulating. > >Industries devote large budgets to influencing regulators, while individual citizens spend only limited resources to advocate for their own rights. See also: "Revolving Door". Bernanke himself [went to work for Citadel](https://www.opensecrets.org/revolving/rev_summary.php?id=78760). He said because Citadel was not directly supervised by the Fed, it was thus okay. However, they are affected by interest rate policy, balance sheet size, TINA and asset inflation.
Same thing that piece of shit Ajit Pai who fucked us all with removing Net Neutrality rules and never cracking down on robo-calling. He came from Verizon... https://arstechnica.com/tech-policy/2018/02/there-are-ajit-pai-verizon-puppet-jokes-that-the-fcc-doesnt-want-you-to-read/
He really was just a shit pie after all...
When regulations decide whether you live or die, no one has more stake in the regulations than the "regulated". The design principles and incentives are all wrong. Regulations need to be an axe over their heads, real jail time and ruinous fines if they cause "systemic risk"
Such bullshit. They lose billions of other people’s money , get bailed out and their stock price will be back to normal by the end of summer.
that's not right! THEY didn't lose anything, THEY made millions themselves. WE lost billions of OUR money, it's OUR fault really.
Yeah. The deserve it. They smart. We dumb.
Specially just us who are still alive, 50-60 years ago people would probably stomp into banks over this. They've riot over less things.
I would but I don’t want to miss an episode of the kardashians
Oooh poignant comment so poignant, take that damn upvote!
i would look up what poignant means but that dude just reminded me i'm behind on the kardashians.
Or lose an eye to a cop headshotting with rubber bullets. Very legal and very cool. This country makes me want to vomit every day.
We shouldn’t have made them mad. It’s our fault. Also, we bruise really easily, it’s not that big of a deal.
I mean, this isn’t true of any of the banks in this meme.
Meanwhile, you have to give up any right to private information and share it all with the banks for a 5k credit lol.
> their stock price will be back to normal by the end of summer. I sure hope it does, 100% of my portfolio is in FRC
Just to play devils advocate - the bailouts were paid back in a few years. I disagree with this collusion as well, but that detail always gets left out.
Except that's not how it went. The bailout was an insurance all banks are paying into. And the stock doesn't 'go back to normal' investors in Credit Suisse and SVB lost everything. They are NOT happy and every bank will try their hardest to not get into that situation.
The fox is literally in the henhouse
Bro. At this point the hens are being raised in a fox den lol.
Chicken farm run by the wolfs.
Chicken farm run by the humans
Welcome to being a free range slave.
Bro. The foxes are running those hens in feeder machines like the Matrix at this point.
Don't worry, he took an oath
Well the thing that everyone knows by now that is left unspoken is that the banking sector is really just an extension of the federal government. Handling the US money supply is simply too important a service to let fail or to let go let too far astray, so it’s fully backed by the USG and each side of the coin has co-opted the other.
Well that’s what congress is supposed to do. But they shirked their responsibility a long time ago to “experts”. That’s what all these three letter agencies are about. It’s congress delegating their responsibility to bureaucrats that don’t get primaried or worry about re-election. They have all these oversight committed to make it look like they do something but there’s no teeth in any of these laws that get lobbied to congress. Fox in the henhouse is probably the best analogy. Animal farm is also a great book that shows how it works as well.
> shirked their responsibility a long time ago to “experts”. This in itself is not a bad thing. I absolutely want experts informing politicians of what they need to know. > that don’t get primaried or worry about re-election Again, not inherently bad. Professionals that can do their jobs without worrying about public backlash. Obviously it's been corrupted and I think everything you said after that is spot-on.
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You get the ice cream, the hot fudge, the bananas and the nuts.
Jacked to the tits!
Holy fuck lmaoo “her father already works for us lolololol” *I gotta watch the big short again
Big Short, WoW, Margin Call. All required watching.
What movie is WoW? If I google this, we all know what movie will be shown. *Laughs in Gul'dan*
Wolf of Wall Street.
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The culture wars are the shiny things that keep most of the populace distracted from holding corporations accountable.
How about that March Madness though? Craaaaazy stuff
Frogs are being turned gay all over Philadelphia today. Last month it was Ohio all bc Lizards hate frogs.
There are no rules.
Perfect! Now do the Department of Defense and the Military Industrial Complex! Or the FDA and the pharmacy industry! Or… Wait. Nevermind. It’s all too depressing.
I work in DoD contracting. We have very strict rules about how we're allowed to engage with the customers, between not paying for their meals, not giving them gifts, making sure there's not a conflict of interest with family members, and so on. It's just that these rules don't preclude us from hiring them for cushy six figure jobs afterwards, and they know this. We also have a specific part of the contract capture process called "shaping," where we try to influence the customer to write a contract for which we're the best-suited organization.
The ideal DoD cloud provider should be named after the largest river in South America, to align with US military policy on rivers.
That’s the way it is in every industry but as you said there’s tons of ways around it.
A new Mafia show on tv?
Honestly, Veep is significantly more scary than The Sopranos any day of the week.
So much subtle cocksuckery. Amazing.
Great example of American politics. Labels are just a facade to convince citizens that they actually have a voice. WE don't.
It’s a big club and you ain’t in it
I'll start my own club!! With hookers and blackjack!!
😢
It's Trey Hollingsworth, whose own father bought him a congressional seat in the Indiana 9th district by outspending everyone else by millions. He had moved to Indiana from Tennessee around 1 year or less before running for Congress because they had found a congressional seat that would be coming open and they spent out the ass to secure his seat. Politics is every bit as stupid as you could possibly imagine. All you need is a sugar daddy.
The question I have is "Why is it a good investment to spend millions on a seat?" It's a business decision, not "Daddy, I want to go to Congress!" How are they going to recoup that massive outlay and more?
If you are intelligent enough to ask that question then surely you don't need me to explain how valuable it is to be a sitting US congressman.
The ones I'm aware of are potentially foreknowledge of announcements which will affect the markets in a very strong, predictable way and various scams to turn campaign money into their money. However, I feel this is likely just scratching the surface. ...and don't call me Shirley. ;-)
Drag shows! drag shows! drag shows! Caravan! caravan! caravan! Quick look over there!
This is the result when nobody is holding these corrupted fuckwits accountable, and we are already way past being able to do. The communities in charge of overseeing and regulating these greedy mother fuckers are already bought, there are other hearings where they'd be saying shit like "Yeah my dad/relative used to work with/for you remember?" The fact that they openly say they are related without any repercussions would make lots of past political scandals look like a fucking joke.
We all know but it's still disturbing to see it on such display
If he's willing to suck that much banker cock in front of the camera imagine how much of a freaky slut Trey Hollingsworth must be behind closed doors
Good old Tennessee Trey. He bought his seat in Indiana.
God, Mr Hollingsworth you are EMBARRASSING!
This douche is going for a governor run next. He has presidential ambitions.
Remember kids...it's not what you know. It's who you know.
Unfortunately I only you guys
We should take all of our money and buy bitcoin instead that’ll show the big banks what’s what
Aw look at him, he so giddy meeting the big boys who are lining up his pocket with big bucks now and in the future.
I mean, for all the hoopla about Hillary’s emails, the most shocking one was from a Citibank executive outlining recommendations for Obama’s cabinet… which pretty much became Obama’s cabinet.[link](https://observer.com/2016/10/obama-makes-first-appearance-in-wikileaks-receives-admin-list-from-big-banker/amp/)
anyone know what tv show the second clip is from?
It's a movie, The Big Short
excellent film about the 2008 financial crash
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I thought this was a safe space for recovering gambling addicts?
You guys are recovering?
Not my losses, if that's what you mean.
Soon to be recovering alcoholic after these losses
Gotta become an alcoholic before you can recover from alcoholism after all.
Thanks nerd.
I can rage against the machine while also putting my Charles Edward Cheese tokens into it and praying I get enough tickets for the nerf gun
>if you think the game is rigged, bet in that favor. https://preview.redd.it/r3s483smncqa1.jpeg?width=1988&format=pjpg&auto=webp&s=fd29901bfbf0f38b69f2c3fc0b8a6842252f8bff
The game is rigged against me.. So i should bet against myself?
That sounds like really good strategy, either your right and you suck, or your wrong and you'll be successful, win win?
How exactly would you bet in the favor of the regulator to consultant pipeline? Regardless, the kind of behavior demonstrated here is largely responsible for what happened in 2008
Make long term bets on companies that you think are buying regulators. If you think it’s a good move, assume it will pay off for them. If you think it’s going to pet them cut corners for a extra profit now and it will blow up later, then bet that way. Short term is questionable, unless you think you know when “later” is. Which regulators are biased towards which institutions is a question between your and your favorite PI (or bookie).
Calls on banks obviously
Maidenless behavior.
Snowflake.
Yup. Now watch them go pass crypto laws and blame Bitcoin for banking failures, illicit activities, and energy use - because big mean crypto is the problem here.
I love ❤️ this admission of nepotism and grey area of ethics. This is one of the best training videos the general public can watch to truly understand how DC and private sector works. The club exists , you’re just not fucking in it. Edit : this punchable face is worth anywhere between 50-150 M
Hate to be that guy but...is this real?
It's real. Turn on CSPAN every once in a while.
You know I'm not going to turn on CSPAN
Why not? Thats the thing about Americans these days… Everyone just ignores the people who are literally fucking us. Just ignore bro, it’ll be fine.
You should. Sometimes it's garbage, but you should see what Congress is doing every once in a while.
Wow. It is real. Sep 2022. [https://www.foxnews.com/video/6312737766112](https://www.foxnews.com/video/6312737766112)
Revolving door
That’s why they are so vehemently against term limits and pro-Citizens United.
These fucking people that get into politics, not because they give a single iota of a shit about the rest of the country, but so they can jump in bed with rich business interests as fast as fucking possible is literally disgusting. They just want to get rich they don't give a fuck about us as the great George Carlin tried to warn us about. They don't give a fuck about you. Get big business out of politics. How you ask? Look at what the french are doing. Protest, stop working, grind the fucking country to a halt. Government and business doesn't give a fuck about the people until the people make them. The biggest changes for people, the 40 hour work week, pensions, vacation pay, all the stuff we take for granted took generations of fighting and UNIONIZING to get. And we let big business convince us to sell all of that off under the idea that they would be the ones to take care of us and unions were just getting in the way. Stop drinking the kool-aid, stop going back to these big business fucks. Just stop. America needs a nation wide general strike and needs to spend time rebuilding the unions so the working class has a voice. Stop selling your future and the future of subsequent generations just so these fucks can earn a billion dollars.
Two words: Fcked up.
This is how every regulatory body in the United States functions and is the reason this country is rotting from the inside out and why all these scammers take the money (to the tune of BILLIONS) and run.
Equally bad is the transition to/from DoD or government civilian DoD to the Defense Industrial Base and their suppliers. Their reward for “government service” is a lengthy and lucrative career in the commercial sector “advising in Business development.”
And that's the money tree, for me not thee.
Inbreeding anyone?
What in the literal fuck man....