Comments on Advance Indiana™: Churn 'Em and Burn 'Em

Lord Peter, Show me a white collar criminal convic...

2009-05-18T15:11:00.000-05:00

Lord Peter,
Show me a white collar criminal convicted in Indiana and we then can show someone how it is done.

It might happen somewhere but not in indiana.

...he is a white collar criminal and they never ge...

2009-05-17T11:55:00.000-05:00

...he is a white collar criminal and they never get punished.Happily, this is no longer true.

I just now read this closely. I know a little bit...

2009-05-16T18:21:00.000-05:00

I just now read this closely. I know a little bit about securities law, having gotten my securities license and worked at a broker briefly.

What is described is a a common strategy for brokers to earn commissions. It is also illlegal. There is no industry that is more regulated than the securities industry. One of those rules you have to follow is that any trade needs to be in what is believed to be the best interests of the clients. If you're making a trade that is not in the best interest in the client and is instead to earn you a commission, you can get in big trouble for that, even lose your securities license.

In order for an independent investigation to happe...

2009-05-16T13:26:00.000-05:00

In order for an independent investigation to happen with any teeth there needs to be a Federal US Attorney with some desire or a Marion County Prosecutor that is not more worried about his new bar or his talk show than the law he is supposed to uphold.

To summarize, we've compared ISTA and it's lack of...

2009-05-16T11:16:00.000-05:00

To summarize, we've compared ISTA and it's lack of risk management to failures on a national level - expecially in terms of high risk, mortgage backed securities. The results have been the same, with massive economic failure. When suddenly, lo and behold, who is at the center of the ISTA mess? One of the very same organizations who is at the center of the national economic mess: Morgan Stanley. And in both cases, the failure is a result of intentional investment strategies that exposed the entire economic well-being of customers to an extremely risky, completely unregulated ponzi that was designed by finance institutions to take advantage of a planned inflation of real estate markets.

Those at the top of the food chain got out before the pyramid collapsed. Those like ISTA, who had consultants employed by the primary offenders, were advised to remain inside the pyramid until it had begun it's inevitable collapse.

If I were an independent investigator (outside the influence of private finance) this is one of the directions I would begin to pursue.

sounds like Karnados needs to go to jail...but he ...

2009-05-16T09:22:00.000-05:00

sounds like Karnados needs to go to jail...but he wont...he is a white collar criminal and they never get punished.

So, when is someone going to report (investigate) ...

2009-05-16T08:49:00.000-05:00

So, when is someone going to report (investigate) the malfeasance within the water company and bond bank?

The ISTA was only doing the same thing all of the ...

2009-05-16T07:54:00.000-05:00

The ISTA was only doing the same thing all of the rest of their friends have been doing. Screw up and keep spending. It will all work itself out in the end.

Isn't amazing how the State of Indiana has preyed upon the education system. Flat line education spending, rip off the Teachers Association and lay off teachers.

But, pay $221,000.00 salaries to people in the CIB, bailout the CIB with tax increases, give tax breaks to gambling halls, pay thugs $21M to stay home instead of showing up for "work" to play basketball and then paying the Home Team $15M for operating.

Boy, something about this just don't add up!