[Vision2020] More Whores At Work

[Art Deco]

1.  I call them the name they themselves find most insulting and
vituperative.

2.  I agree with Paul.  Legalize it.  Regulate it.  Protect the workers.
Tax it.

w.

On Wed, Jul 4, 2012 at 11:32 AM, Paul Rumelhart <godshatter at yahoo.com>wrote:

> While we're on the subject, why the hell isn't prostitution legal?
>
> It's another one of those cases of "legalize it, tax it, regulate it for
> safety, and take it out of the criminal underground". Those who have moral
> objections to it can choose not to participate.
>
> Paul
>
>  ------------------------------
> * From: * Donovan Arnold <donovanjarnold2005 at yahoo.com>;
> * To: * Art Deco <art.deco.studios at gmail.com>; vision2020 at moscow.com <
> vision2020 at moscow.com>;
> * Subject: * Re: [Vision2020] More Whores At Work
> * Sent: * Wed, Jul 4, 2012 6:18:13 AM
>
>   Wayne,
>
> Why do keep slandering the reputations of whores by associating them with
> corrupt bankers?
>
> Donovan J. Arnold
>
>   *From:* Art Deco <art.deco.studios at gmail.com>
> *To:* vision2020 at moscow.com
> *Sent:* Tuesday, July 3, 2012 11:23 AM
> *Subject:* [Vision2020] More Whores At Work
>
>  [image: The New York Times] <http://www.nytimes.com/>
> <http://www.nytimes.com/adx/bin/adx_click.html?type=goto&opzn&page=www.nytimes.com/printer-friendly&pos=Position1&sn2=336c557e/4f3dd5d2&sn1=84e9b341/ba42e34f&camp=FSL2012_ArticleTools_120x60_1787509c_nyt5&ad=BOSW_120x60_June13_NoText&goto=http%3A%2F%2Fwww%2Efoxsearchlight%2Ecom%2Fbeastsofthesouthernwild>
>
>  July 2, 2012
> Rigged Rates, Rigged Markets
> *Update:**After this editorial went to press, Barclays announced that its
> chief executive, Robert Diamond Jr. had resigned, effective immediately,
> and that Marcus Agius, who had resigned as chairman of Barclays on
> Monday, would become chairman again and lead the search for a new chief
> executive.*
> Marcus Agius, the chairman of Barclays, resigned on Monday<http://dealbook.nytimes.com/2012/07/01/chairman-of-barclays-is-expected-to-resign/>,
> saying “the buck stops with me.” His was the first departure since the
> British bank agreed last week to pay $450 million to settle<http://dealbook.nytimes.com/2012/06/27/barclays-said-to-settle-regulatory-claims-over-benchmark-manipulation/>findings that, from 2005 to 2009, it had tried to rig benchmark interest
> rates to benefit its own bottom line.
> Mr. Agius was right to go and the bank’s chief executive, Robert Diamond
> Jr., should follow him out the door. But the investigations cannot stop
> there.
> The rates in question — the London interbank offered rate, or Libor, and
> the Euro interbank offered rate, or Euribor — are used to determine the
> borrowing rates for consumers and companies, including some $10 trillion in
> mortgages, student loans and credit cards. The rates are also linked to an
> estimated $700 trillion market in derivatives, which banks buy and sell on
> a daily basis. If these rates are rigged, markets are rigged — against bank
> customers, like everyday borrowers, and against parties on the other side
> of a bank’s derivatives deals, like pension funds.
> Barclays is only one of more than a dozen big banks that provide
> information used to set the daily rate for Libor and Euribor. The
> settlement, struck with regulators in Washington and London and with the
> Department of Justice, indicates that the bank did not act alone. It shows
> that unnamed managers and traders of Barclays in London, New York and
> Tokyo colluded with or prevailed upon bank employees who provide the
> benchmark data to make false reports. The aim was to bolster Barclays’s
> trading positions and to aid or counteract other banks’ attempts at
> manipulation.
> The evidence, cited by the Justice Department<http://www.corporatecrimereporter.com/documents/Barclaysstatementoffacts.pdf>— which
> Barclays agreed is “true and accurate” — is damning. “Always happy to
> help,” one employee wrote in an e-mail after being asked to submit false
> information. “If you know how to keep a secret, I’ll bring you in on it,”
> wrote a Barclays trader to a trader at another bank, referring to an
> attempt to align their strategies for mutual gain.
> If that’s not conspiracy and price-fixing, what is?
> The Justice Department has left open the possibility of prosecuting
> officers or employees of Barclays. But it has agreed not to prosecute the
> bank itself, in part because Barclays was the first to cooperate in the
> investigation and has agreed to keep cooperating. Such an agreement makes
> sense only if that cooperation will allow prosecutors to nail other banks
> that have been involved in setting the rates, including potential cases
> against Citigroup, JPMorgan Chase and HSBC, and people who work there.
> To date, the Justice Department has not distinguished itself in
> prosecuting major banks or their executives for conduct leading up to and
> during the financial crisis. But with Barclays now cooperating, the “Liborscandal” is another chance for government prosecutors to unmask and punish
> financial wrongdoing.
>
>
> --
> Art Deco (Wayne A. Fox)
> art.deco.studios at gmail.com
>
>
>
>
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-- 
Art Deco (Wayne A. Fox)
art.deco.studios at gmail.com
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