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View Full Version : Frontline: The Wall Street Fix (aka the screwing of america)



Penthos
05-09-2003, 09:53 AM
On frontline last night was a show about corrupt and incestuous relation ship between Solomon Smith Barney/Worldcom/Jack Grubman/ and Citicorp that screwed hundreds of thousands of honest investors out of their retirements and pensions...

It disgusted me... as far as I'm concerned Jack Grubman should be executed... He was found guilty and ordered to pay 15 Million in damages and leave wall street, but heres the thing... Citigroup gave him a 30 million dollar severnce package... He masterminded the screwing of all these investors for his own personal gain, got caught and walked out of court a free man AND 15 million dollars richer... Not to mention all the other coporate SCUM BAGS involved in this "Steal from the poor and give to the rich" arrangement...

Turns out that these days Stock Market analysts don't work for the investor... They actually work for the bank that is financing the moves of the Stock that the analyst is pimping...and thats the way its. To top it off, by bowing to pressure from wallstreet, our own Government enabled this by repealing a law that forbids investment banks from selling securities.

I knew that there was some dirty sh!t going on there... but I HAD NO IDEA how pervasive it is... My description has not even scatched teh surface... These people are stealing from people who actaully need the money so that they can literally keep the money themselves... That is not an exaggeration, that is a fact.

If you are an investor, I would highly recommend you watch this special before you take the advice OF ANY Investment firm...

PBS Story (http://www.pbs.org/wgbh/pages/frontline/shows/wallstreet/etc/synopsis.html)

PhinPhan1227
05-09-2003, 10:49 AM
Ok...who wants to get a pool started to see how long it takes for someone to blame George Bush for this?

LeftCoastPhin
05-09-2003, 12:13 PM
Not blaming Bush, it's WAY bigger than him.

It's no secret big business and govt are In Cahoots. Could it perhaps be part of a dirty little plan that our Social Security is totally screwed and insufficient forcing us to rely on our investments? Then this stuff happpens to all these investors. Or, maybe it's just a coinicidence but in the "big picture" it looks pretty bad.

We are encouraged to invest, which tells me the govt and society feels we are competent to grow our own nest egg. If that's the case, then why is almost 8% or whatever it is being taken out of my check for social security? If they "drilled and encouraged" society to save THAT money instead of stealing it from our checks, most people would be better off. We still need Social Security, but it needs to be scaled way back. But, we are getting it from both ends and it isn't likely to be scaled back.

It's early in the morning and my point is quickly going south as I'm rambling, I guess I'm just crying BULL$HIT!


Yes, we still need SS because it can serve a purpose but it needs huge reform. I calculate the money that I'm used to being without and if I put that away before the govt could steal it from me, I wouldn't need to worry as much about it when I get older. So, isn't it defeating the purpose? For me, it is anyway.


SS could help ME the best by allowing me to keep the money because it's already been drilled into my head that I'm gonna need it. I'll make you a deal Uncle Sam, give me back my SS with a signed contract that I cant bug you for money when I'm 65 and I will take that agreement anyday of the week and TWICE on Sunday.

At least give us the option to sign that binding contract......we aren't free till we do. They are stealing our money, simple as that.

Now, I do NOT have any agenda, I'm just rambling here. I love our country, and with all the flaws we have, we are still the best. Man, the human race hasnt' come very far, has it?

PhinPhan1227
05-09-2003, 12:40 PM
Problem is, the advisors business model shifted, but the SEC didn't keep up with that shift. This crap has been building for the last decade or so, but it just started hitting the fan in the last couple of years. Anti-trust laws will have to be changed.

dolfan06
05-10-2003, 01:48 AM
i've got our money in a multi-bucket annuity, can't lose my initial investment!;)

Clumpy
05-16-2003, 12:07 AM
I saw this show at 10pm tonight. They end the show with one statement: "Jack Grubman leaves Citicorp with $30 million severence"

None of these criminals get jail time :down:

Need some old fashioned western justice!!

honey
05-16-2003, 01:03 AM
:wave: Hi, clump! :D

dolfan06
05-16-2003, 01:18 AM
Originally posted by LeftCoastPhin
Not blaming Bush, it's WAY bigger than him.

thats what monica said!:D

baccarat
05-16-2003, 01:00 PM
Originally posted by dolfan06
thats what monica said!:D

Classy!

dolfan06
05-17-2003, 02:01 AM
Originally posted by booyeah_


Classy! i thought so!:evil:

DolFan31
01-08-2010, 12:05 AM
hmmm..

*bump*

MDFINFAN
01-08-2010, 02:09 PM
Ok...who wants to get a pool started to see how long it takes for someone to blame George Bush for this?

Good reading ya pp1227, how's it been going?
Okay, back to the debate..don't shield bush, he was a part of the gov't that let down their guards on this.. the fact you knew what's on google on this subject is why you tried to head it off quickly..good spin...but we know the record, we're astute POFO posters...:lol: we can google, ask, wipi, or others with the best of em....:up:

Locke
01-08-2010, 02:23 PM
This is from 2003...

MDFINFAN
01-08-2010, 02:25 PM
This is from 2003...

Don't tell 1227, it's gonna break his heart to know bush was in office..:chuckle:

phins_4_ever
01-08-2010, 02:30 PM
Good reading ya pp1227, how's it been going?
Okay, back to the debate..don't shield bush, he was a part of the gov't that let down their guards on this.. the fact you knew what's on google on this subject is why you tried to head it off quickly..good spin...but we know the record, we're astute POFO posters...:lol: we can google, ask, wipi, or others with the best of em....:up:

If I read this correctly you responded to a post from 2003.

Unless I am missing something.

MDFINFAN
01-08-2010, 02:33 PM
If I read this correctly you responded to a post from 2003.

Unless I am missing something.

I did..didn't know it until you pointed it out..

phins_4_ever
01-08-2010, 02:41 PM
I did..didn't know it until you pointed it out..

Its OK. LOL.

I thought for a moment I was going nuts. I didn't recall this story at all. I read the thread a couple times before I realized (after a quick google) that it was an old story.

:up:

Eshlemon
01-08-2010, 03:24 PM
Good reading ya pp1227, how's it been going?
Okay, back to the debate..don't shield bush, he was a part of the gov't that let down their guards on this.. the fact you knew what's on google on this subject is why you tried to head it off quickly..good spin...but we know the record, we're astute POFO posters...:lol: we can google, ask, wipi, or others with the best of em....:up:

We all make mistakes...but dude that's just too funny.

Dolphan7
01-08-2010, 04:29 PM
Haha........Gotcha MD!

MDFINFAN
01-08-2010, 11:03 PM
Haha........Gotcha MD!

And I admitted it, unlike others..:chuckle: I thought this was a new thread, so yep, I'm guilty..:up:

DolFan31
01-17-2010, 12:15 AM
I bumped this to point out that there were many of us who saw this coming. lol sorry MD