{"id":789,"date":"2012-03-22T16:57:43","date_gmt":"2012-03-22T16:57:43","guid":{"rendered":"http:\/\/sol-biotech.com\/wordpress\/?p=789"},"modified":"2012-03-22T16:57:43","modified_gmt":"2012-03-22T16:57:43","slug":"gangsta-banks","status":"publish","type":"post","link":"https:\/\/sol-biotech.com\/wordpress\/index.php\/2012\/03\/22\/gangsta-banks\/","title":{"rendered":"Gangsta banks"},"content":{"rendered":"<p>Gangster Banks Keep Winning Public Business. Why?<br \/>\n<a href=\"http:\/\/www.rollingstone.com\/politics\/blogs\/taibblog\/gangster-banks-keep-winning-public-business-why-20120322\">http:\/\/www.rollingstone.com\/politics\/blogs\/taibblog\/gangster-banks-keep-winning-public-business-why-20120322<\/a><\/p>\n<p>Why?  Simple: it is anonymous tax payers that get screwed and in any case the politicians are corrupt.  This is telling:<\/p>\n<blockquote>\n<blockquote><p>\n    &#8220;I haven\u2019t found an investment bank that hasn&#8217;t had some problem in the last three years,&#8221; California Treasurer Bill Lockyer said in a telephone interview. &#8220;We do business with them all. I think they provide good service. I think they&#8217;ve been highly ethical with us.&#8221;\n<\/p><\/blockquote>\n<p>This is coming from an official whose state, California, has seen multiple bid-rigging cases in recent years, from Riverside to San Mateo to Sacramento to Los Angeles to Santa Barbara, for starters. So a quote like that is pretty sad. It tells you that the system works fine for state officials and banks &#8212; and no one is representing the people who actually lose out.\n<\/p><\/blockquote>\n<p>It would be quite simple to create some sort of on-line <a href=\"http:\/\/en.wikipedia.org\/wiki\/Dutch_auction\">Dutch Auction<\/a> for these sorts of things and the whole thing could be managed for a flat fee (and a small one that that!  I would be happy to do it for a few million a year!), all totally transparent and totally free from corruption.  The tax payer would not be cheated yet horrifyingly Wall Street wouldn&#8217;t get huge fees for doing nothing.  <\/p>\n<p>Sadly, something like this has exactly zero chance of happening (but please feel free to make a fool out of me!), even if it somehow started to develop enough critical mass the banks _already_ own the politicians that would invent new road blocks, just like they did for the <a href=\"http:\/\/sol-biotech.com\/wordpress\/2012\/03\/15\/political-destruction-of-the-us-post-office\/\">Postal Service<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gangster Banks Keep Winning Public Business. Why? http:\/\/www.rollingstone.com\/politics\/blogs\/taibblog\/gangster-banks-keep-winning-public-business-why-20120322 Why? Simple: it is anonymous tax payers that get screwed and in any case the politicians are corrupt. This is telling: &#8220;I haven\u2019t found an investment bank that hasn&#8217;t had some problem in the last three years,&#8221; California Treasurer Bill Lockyer said in a telephone interview. &#8220;We &hellip; <a href=\"https:\/\/sol-biotech.com\/wordpress\/index.php\/2012\/03\/22\/gangsta-banks\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Gangsta banks&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14,16,3,10],"tags":[],"class_list":["post-789","post","type-post","status-publish","format-standard","hentry","category-business","category-government","category-politics","category-society"],"_links":{"self":[{"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/789","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/comments?post=789"}],"version-history":[{"count":1,"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/789\/revisions"}],"predecessor-version":[{"id":790,"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/posts\/789\/revisions\/790"}],"wp:attachment":[{"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/media?parent=789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/categories?post=789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sol-biotech.com\/wordpress\/index.php\/wp-json\/wp\/v2\/tags?post=789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}