is a reciprocal relationship, dependent upon a desire to be considered decent and honourable. Even in the dog-eat-dog financial markets, trust and integrity are matters of self-interest. However amoral you may be, it is in your interest to care about your reputation, because if you behave badly you will not do business with me - or others - on favourable terms again.
Everybody tries to 'game' the system on their route to vast personal fortunes - whether short-selling, packaging up dud mortgages as prime mortgages or telling lies about their financial viability - and the result is that the system is getting wise. The best course today in any financial transaction is to presume zero integrity. Credit is drying up and with it the very lifeblood of the economy.
Worse, now that the system is in trouble, financiers are turning to taxpayers in the US and Britain for help without understanding the other key principal of fairness - that we will consider helping those who for no fault of their own get into trouble, but not those who freely created their own bad circumstances.
OK fellow bondsmen out there -- SAY NO to their "insurance" - it's a scam - doesn't work -- buy our insurance
#3 on our list of demands should be INSURANCE PLAN
here's our definition of Insurance:
.....of or pertaining to a score that increases a team's lead and insures that the lead will be held if the opposing team should score once more: The home run gave the team an insurance run, making the score 7-5.
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of a contingent loss. Insurance is defined as the equitable transfer of the risk of a loss, from one entity to another, in exchange for a premium, and can be thought of a guaranteed small loss to prevent a large, possibly devastating large loss. An insurer is a company selling the insurance. The insurance rate is a factor used to determine the amount, called the premium, to be charged for a certain amount of insurance coverage. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice.
Here's a great graphic and message
Another great graphic and message here....
“No company fails in communist China, because they’re all partly owned by the government. I sincerely believe that Henry Paulson and Ben Bernanke should resign. They have taken the free market out of the free market.” -Sen. Jim Bunning (R-KY)
Whether you're an elephant, donkey, or an independent animal we can all agree that the past eight years of our American lives haven't been a joy-ride. As a well-informed friend pointed out to me last night, "The most important financial and economic decision of my lifetime will be determined by those who spent most of the last few years debating Terry Schiavo and steroids in baseball. Forgive me if I dont have confidence." Feeling confident?
Here's some videos from the protest on wall street last week. Send them to your local news stations. (you never know.....)