Monday, October 19, 2009
U.S. Said to Target Wave of Insider-Trading Cases After Galleon
Much of the financial sector adds nothing of value to the real economy except for rampant speculation and heightened risk. What's even worse is that so much of it is corrupt: witness this Galleon insider trading case and recently, Bernie Madoff. There have been a long list of others.
It's funny how people attack the government for being inefficient and/or corrupt, while at the same time they laud the private sector, which is probably far more inefficient and corrupt. The incessant insider trading activity is a clear example. The fraud that occurred in the mortgage industry and even the way large corporations control policy with billions of dollars spent on lobbying to safeguard or further their interests. The little guy hasn't a chance, yet the little guy rails at government support for the economy even though it is really the only thing that can help him. The little guy's been brainwashed. It's a mass brainwashing of America.