One industry after another the financial scandals are growing.

As Eliot Spitzer continues to discover the skeletons in Maurice Greenberg's AIG Empire followed by General Re,CNA and other insurance
giants,one must assume that the rot must have spread systemwide from accounting, securities industry to banking to automotive and other industries.Is there any industry that is immune to these enormous problems?

It is simply inconceivable to me that the cost structure of this industry is so seriously affected by a limited number of high jury awards.

with this. He has picked targets who are literally above the law and soon he will find this out.

Insurance companies are much like banks. They become "too big to fail" at some point. And Spitzer's actions will be likened to causing a "run on the bank."

Ergo- if you want to be successful these days, you must be corrupt. This is why it's cool to be a shady prick now.

RTP

That Law says Bad Coin Drives good Coin Out of Circulation.

There are rumblings on the horizon.....the rain clouds are gathering, and it's pitch black.

The two mortgage giants, FNMA (Fannie Mae) and GNMA (Ginnie Mae) have been linked with corruption. The corruption that we're talking about is so huge, that they are afraid it's going to take the economy down with them.

The reason they speculate, is because the real estate market is tied up with mortgage loans. They feel that if these two monoliths are exposed, it might cause the real estate bubble to burst.

We don't know for sure, but there is no doubt these 2 organizations are corrupt and they're trying to hide it.

It seems that the chickens have come home to roost.

Finance is a confidence game. Those with the most "confidence"
get others to buy in to their confidence (read: credit) and then they
issue paper and use the proceeds to con more people. When the con
is up, they walk and blame the oversight, or the designated fall-guy.

Really, its become such a common scam, that a board position sould be
created, DFG (Designated Fall Guy) to take the rap for the con when it
rolls up. Corporatism is criminal by its very roots in the american
criminal wall street scam, that is itself a crony network of cons, and
ex-cons all running the same ponzi scheme... and on the bottom are the
taxpayers who have to bail the whole thing out when these criminals
run off... like what happened with merryweather and his happy gang at
long term kapital... not a criminal charge.. but a taxpayer bailout for
endangering the US financial structure with their blind back-to-back
scam.

in any way, the world of business doesn't either.