Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Your five "rules" and the routine, casual manner in which they have come to be violated, especially by the powerful in Anglo society, are examples of the application of Gresham's Law to personal behavior. In its application it is completely corrosive to the integrity of a society, as has been, is and will further be shown in the USA. As Charles Prince of Citi testified: "When the music is playing you have to dance!"

The whole financial system is competitive by design and if Goldman is doing something arguably illegal, but getting away with it and profiting handsomely, their competitors are forced to try to do the same. If Goldman gets away with its actions on account of having Goldman alumni at Treasury and the NYFed, the competetors have to attempt to match their clout. Rent enough US Senators and support the nomination and confirmation of enough Justices of the Supreme Court and you are good to go.

Of course Lady Justice has to remove her blindfold cuz she needs to use it as a G-string, but that is just the price of progress. The end result is that democracy comes to be denominated in dollars, not votes and Justice is a high priced prostitute, but democracy is reconciled with capitalism and we have the best justice and democracy that money can buy. Pity they couldn't be a bit more subtle and discrete about it. What will the children think?

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Aug 24th, 2010 at 11:48:31 PM EST

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