There’ll be a movie coming out in December entitled “The Big Short”based upon a book by the same name which was written by Michael Lewis of “Moneyball” and “The Blind Side” fame. The book is a tedious timeline of the goings-on-behind closed doors of the rise of the Housing Bubble, it is not for the faint hearted, you’re guaranteed to experience a certain amount of rage during the reading. I am glad a movie is being made, more of us need to see how blatantly open people were about breaking the laws and betting against economic disaster. Maybe we could even muster the courage to bring justice to those thousands who lost their homes by prosecuting the criminals responsible for their plight.
Iceland doesn’t seem to have a problem prosecuting its wrongdoers. The country’s government has sent over two dozen people to prison with maximum terms for their part in the global disaster. As I’ve written previously, China has no problem sending executives to prison either. So far the worst we’ve seen is some slap-on-the-wrist fines to big banks for manipulating interest rates (funny isn’t it? they want a free market, only to turn around and rig it themselves). Fines are ineffective, banks plan for the ‘expense’ in their budgets for one thing, and obtain the monies by instituting nickle and dime fees upon the average consumer for another; it’s not any skin off their back to simply write a check that has no direct impact on their daily lives.
Would that we could follow in the steps of those nations such as Iceland who are willing to delve out punishment to the criminals who so recklessly and knowingly inflicted great harm upon many of their fellow citizens. They should pay their debt to society the same way any old-fashioned, armed bank robber pays their debt. As we move forward towards the next presidential election, we must examine our candidates very carefully….who can defend us from the corporatocracy? If we do not choose a strong and able leader willing to stand up for us instead of the oligarchy, I fear for the future and democracy of our Republic.
#vote2016 — and go see the movie.