Scam Little Old Ladies? Enlist And Shoot Afghans!
The Market Ticker ® - Commentary on The Capital Markets
Posted 2012-03-22 09:27
by Karl Denninger
in Corruption
Ignore this thread
Scam Little Old Ladies? Enlist And Shoot Afghans!
 

I don't have words suitable for this folks, but I'll try.

(Reuters) - The U.S. soldier accused of killing 16 civilians in Afghanistanleft for war without paying a $1.5 million judgment for defrauding an elderly client in a stock scheme, and remains shielded from the obligation as long as he remains in the military, legal experts said.

Before beginning his military career in November, 2001, Robert Bales worked almost five-and-a-half years at a series of largely intertwined brokerages that received repeated regulatory censures, according to regulatory records.

Oh that's precious.

So this guy apparently lost an arbitration award (which basically never happens folks; if you've ever seen how slanted these panels are toward the securities industry you'd puke from that standing alone) which means that there's a very good chance he really did rip off that elderly client.

The panel also included a puntive damage award, which is reserved for willful or malicious conduct.  Those are rare as hen's teeth as well.

FINRA, for their part, never suspended this guy and thus never locked him out of the securities industry.  But he apparently knew when the getting was good he ought to go get before was got, and joined the service, effectively disappearing and being shielded from judgments so long as he remained in.

There have been repeated rumblings that this guy had some sort of financial or legal trouble.  I assumed, as most others probably did, that the relatively poor pay in the military and some bad decisions ("gotta have them new shiny rims on my pimped-out ride!") might be responsible for the pressure.  Not smart, but not this sort of thing.

Well it looks like we were all wrong folks. 

But heh, it's good to be a bankster, right?  Not only did this guy allegedly destroy the lives of women and children in Afghanistan -- people who were not engaged in attacking Americans -- it appears that he had a record of destroying the lives of people here back home too.

The bankster shield must be penetrated and the people who have been involved in this crap -- whether it be ripping off little old ladies directly or whether it be bundling together worthless securities and selling them on in pursuit of commissions and bonuses -- must come down and those responsible for these frauds must be prosecuted. 

We, the people, must demand it -- now.

The rest of my reaction to this story is unsuitable for exposition in polite company.

Discussion below (registration required to post)
 

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User Info Scam Little Old Ladies? Enlist And Shoot Afghans! in forum [Market-Ticker]
Deepsee100
Posts: 1304
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The Med
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So many sociopaths..so few bullets..

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Thesev
Posts: 1380
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Louisiana
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As you said, Had to be bad. Especially if you're willing to join the infantry and take multiple trips to a war zone just to get away from it.

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The reason the republic isn't working is that it's being run as a democracy.

It doesn't matter who you are, or who you Think you are, the Math is Going to Win.
Agau
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Fry'em and hang the corpse on Wall St for 3 mos

Winstonsmith2009
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"There have been repeated rumblings that this guy had some sort of financial or legal trouble."

For him, financial problems are in the past. You don't earn much in Leavenworth. And the fedgov pays the foreigner restitution.
Jwm_in_sb
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California Desert
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Wow, I knew something was weird when I heard on the radio that this guy had joined right after 9/11 while working on "Wall Street". Wall Streeters, in general, don't join the military...it's not in their psyche to do so. This wasn't Pat Tillman.
Tesla
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Green A True American Patriot!
State of Disbelief
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We're not polite here, so let's hear the rest of your opinion smiley

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"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes

"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
Richardebel
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"relatively poor pay in the military" ??
My daughters husband is serving in the Navy EOD in Spain(enlisted). They are renting a nice house with a swimming pool. They travel all over Europe(when he is not deployed)
They are not poor by any stretch of the imagination.
BTW - They will be returning to the US this summer and guess were they are looking for a home?
Niceville, FL
Jwm_in_sb
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Relative to Wall Street Richard. But yeah, even as a high level enlisted it's not that bad.
Jackl
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You know Karl, I disagree. I think you've got it all wrong.

We must continue heaping billions of dollars on these people. If the lesson in Afghanistan proves true once you cut off the fraud spigot all the bankers will go homicidal across the the country. Untold hundreds if not thousands of lives could at risk if people aren't allowed to steal money!


Think of the children!
Genesis
Posts: 130745
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I would actually love it if all those bankers were to go homicidal all across the country.

It is perfectly legal to shoot someone who is about to shoot you or someone else. Since there are far more of "us" than "them" this problem would rather-quickly become "extinct."

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Tsherry
Posts: 193
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Spokane WA
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I know it's illegal to kill them if they're not about to kill you....but what if they've killed you financially?

Is it OK to just castrate them? Maybe lop off a hand or an ear or both?

(Kidding, sort of)
Blackswan
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Shocking that there are sociopaths in wall street.

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“It’s checkmate. Everywhere it’s checkmate.”
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Arw
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Today's military pays extremely well. Like all government.
Mannfm11
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Looks like we have a good pool of terrorists to recruit right under our noses.

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Risingcream
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It's incredible how many people were defending this guy. IMO, the story about having his friend's leg get blown off, maybe being a trigger, made his actions seem even worse. The military uses lethal injection. He should be hanged.

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Iou
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The Twilight Zone
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Military Bankster? I’m speechless.

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"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
Gates
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Scottsdale
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In light of this it seems if we shipped him back and let the AG try and punish him - publicly - it MIGHT take some of the heat off the guys still there that have to face the consequences of his actions.
Winstonsmith2009
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"This wasn't Pat Tillman."

From the excellent documentary about Pat (NSFW):

The Tillman Story - Richard speaks about his brother

http://www.youtube.com/watch?v=yRNxiPVZ6....
Seobook
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This is not uncommon in the military...on the submarine I was on, there were at least a couple people who told me they joined the military in lieu of going to jail - and one of them was caught with substances to make meth & facing 10+ years in jail.

The funny thing about that guy is he acted all gung ho & was accepted to go to officer's school just before he disappeared for a while, based in part on a friend of his flagging down a semi driver with a knife that had crystal meth on the blade when they were home on leave. Oooops.

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