vinyl siding installation south barrington painting aluminum siding concrete siding hardie board siding bannockburn hardie board siding round lake beach .. Chicago Drug testing

Financial Crime

Congress recently passed another new law that is supposed to outlaw financial crime. Corporate officers will be sent to jail for "cooking the books" as it is called. Among other things it is taking the stockholders money and paying themselves huge bonuses for nonperformance. These guys are even worse than mutual fund managers who do the same thing ? get paid big salaries yet continue to lose your money.

I can remember many years ago (I've got a few years on me) when they started building very fancy prisons with nice cells and tennis courts and nothing but a tiny fence around them. The story was these were being built for government officials who might get caught with their hand in the till and I have no reason to doubt it.

Today we have the new Sarbanes-Oxley Act that makes it a federal crime to commit financial fraud of various kinds. This new piece of legislation is going to be about as effective as the Brady Bill was in eliminating crimes committed with a gun. A crook is a crook is a crook. With or without a gun.

It seems that most of these high-priced executives that were convicted have been going to halfway houses. No bars, no fences, no cells. About 50% of inmates (?) in these "prisons" are those convicted of financial crimes. Most of the others are drug addicts and single moms. They can even get weekend passes to visit their palatial estates. Attorney General Ashcroft wants them to get the maximum sentences is a regular jail, but a group called the Sentencing Commission wants a lenient standard. I don't know who is behind this group, but it seems to be in line with my motto of "follow the money". The more money you steal the shorter the jail time will be.

We recently had Merrill Lynch and other major brokers fined $1.4 billion (yes, that's a B) for their lying to stockholders by giving out false information generated by their "analysts", read salesmen. Not one penny of this is going to the people who were cheated and none of the brokerage company executives will get any jail time.

Almost none of the individual company executives have been ordered to make even partial restitution to stockholders. Unless something is done this lenient policy will go into effect in the first week in January. If you have lost any money in the stock market these past 3 years I think it would be a good idea to let your Congressman know that you want those bums kept in jail until they give back as much as they have stolen or at least until they are as broke as their shareholders.

Many will agree that the punishment should fit the crime. Letting them serve their terms in halfway houses without repayment is not my idea of that. Maybe Washington should hear from you.

Al Thomas

Author of "If It Doesn't Go Up, Don't Buy It!"

Never lose money in the stock market again.

http://www.mutualfundmagic.com

In The News:

Catnip of the Stock Market

I have watched my cat play with a bag of... Read More

Dividend Paying Stocks

I would like to share with the reader an article... Read More

The Secret Method to Selecting a Winning Trading System

Every successful trader has a winning system. There are of... Read More

The Cub; II

We keep hearing about this bear market and that the... Read More

Successful Trading ? Taking Profits - Part 1

So you're started trading, you bought some positions with your... Read More

Mutual Funds: The Modern Den of Thieves!

Mutual funds were created with the idea that one person... Read More

When?

When will the stock market stop going down and start... Read More

Cash

How many people went to a cash position this week?... Read More

Index Fund Trading Using Technical Analysis and Swing Trading Strategies

Index Fund Trading can be one of the most profitable...or... Read More

Alfred E. Newman

What! Me worry?Many of you remember the cover of MAD... Read More

Maximizing a Stock Market Investment

Maximizing a stock market investmentThere are several factors an investor... Read More

What is Involved in Peak Performance Trading?

There is so much involved in developing peak performance, that... Read More

Leverage - Margin Debt

What is leverage?Here is a definition of leverage from an... Read More

Intervention

Intervention. Now don't let that big word scare you. The... Read More

This Market Is Different

All of the talking heads have been telling us that... Read More

DIY Portfolio Management

Exchange Traded Funds (ETFs) are growing. Investors are choosing low... Read More

An Old Proverb for Investing

"If you don't know where you are going, any road... Read More

Do You Know What is the Single MOST Critical Mistake in Trading the Stock Market??

Well maybe that's overstating it a little, but it's certainly... Read More

Struggling Stocks, Booming Commodities

04/28/2005NASDAQ dropped -12.5% year to date in 2005. S&P500 index... Read More

Investing in the Stock Market

From the book 'The Stockopoly Plan' by the author Charles... Read More

Mutual Fund Expense Lies

When purchasing mutual funds we are cautioned to read the... Read More

The Importance of Using Stop Loss Orders When Spread Trading the Financial Markets

A Guide to Using Stop Loss Orders Stop losses are... Read More

Mutual Funds are Dead

You may have wondered why your mutual funds have been... Read More

Investment Attorneys and Garbage Stocks

How is it possible that trash Companies are posting less... Read More

Lifestyle Funds Provide Greater Security?

With the stock market stubbornly refusing to settle down and... Read More

led parking garage lighting induction shoebox Pete's produce ..
led parking garage lighting induction shoebox Pete's produce ..