And Bill Black is my hero. Funny/sad that he never got any awards like the Nobel Prize or Pulitzer or McCarthur Award. He is a national treasure and is still working hard for us 90%.

People stole when the penalties were chopping off your hand, so I think punative measures are kooky. Fraud, takes two dishonest people. One telling the lie and someone who suspends logic,to believe the lie, in pursuit of easy money, or who thinks they are in on the shady side when they are not. Both got what they deserve.

@@MrOliverwoods Their needs to some Moral Hazard as a deterrent though, simply handing them a Bill which they can Pay Off with more Fraud is just factored into a Business Day, as we have seen internationally all over the Financial Sector. If those Big Wigs who defraud Billions have all their Assets Seized and were then actually locked in a Cage for 10 years they wouldn't by definition be able to continue said Crime Spree for the next 10 Years. Do you not think that would then serve as 'some' deterrent to others knowing they will have to suffer some meaningful personal accountability if they get caught? Folks who are impoverished stealing something to 'get by' and these characters who continue on to defraud Millions purely for Greed are different Animals imho. As is its laughable, its like allowing a Gardener who is guilty of a crime to 'Pay His Bill' in Grass Cuttings lol.

@@bigdaz7272 You stated it perfectly. You’re spot on!!!

@@axil03 Thankyou

Simpleton. Politics and economics are inseparable. The sooner the brainwashed sheep realise this the better.

Yes but....who decides what is a crime?

@@MsColl90 let's start with the things that jp gets caught with and instead of paying 10% of the defrauded amount make it 110%.

Soooo True!

@@shaz7132 Not in school

"one term is *that thou shall not steal*, a counterfeit is *thou shall not bear false witness*, but, you know, *thou shall not place, um, orders into an electronics trading system designed to affect other market participant's algorithmic perception of the underlying balance of supply and demand*, mmh, you know, there's lots of people who would not see that as a crime"

* "i'm not sure i do."

Yes!! Tan Liu would be a great interview.

If they just started auditing people who set up Delaware LLCs and don't pay the annual fee to keep those in good standing, they'd probably find a ton of unpaid tax money.

@@RickG151 when Cohen needed to set up a new company to pay hush money to Stormy Daniels, it would be in Delaware. when a Rus Oligarch "offshores" his money, it goes to Delaware.. jus ask Lev Parnas.. he testified to exactly that, under oath, to a Fed Judge.

Won't the algorithm just be tweeted to loot ordinary citizens?

@@marianhunt8899 block chain is a distributed digital ledger, basically several copies that are separate and that have to all agree to any changes. that makes it prone to mischief.

Can't it also be programmed by professional thieves, including all the copies? Anything human made can be corrupted.

@@marianhunt8899 What you are talking about is possible, however, nobody would trust it initially without seeing the code and loading it on one of their own authenticators. That means at least between those two people, they know exactly what is running and there isn't a way to corrupt it without both of them knowing an exploit ahead of time. How many people do you have to trust before you believe a blockchain is secure?

What a naive statement

@@billiamc1969you can lie to an honest man and he will believe you. That is lying. Fraud, however, almost always requires a willing participant in the act. An honest man would never entertain those type of thoughts, so the pitch won’t work. I know I’m breaking a rule here by telling you this but “you can’t cheat an honest man, never give a sucker an even break or smarten up a chump.”

@@MrOliverwoods Ah yes, let's blame the victim.

@@monroefuches2707 This type of fraud doesn’t have victims. Madoff didn’t have any victims. He had accomplices. They invested in a fund that they weren’t allowed to ask questions of and they agreed because they thought he was a mastermind of a scam, himself. That’s not fraud, it’s avarice. Your probably religious so I’ll blame the devil.

@@MrOliverwoods My "probably religious" what? If you meant *you're* probably religious, I'd have to answer that you seem to be the one that believes in ridiculous fantasies, not me.

People are insulated from their actions, it's easy to rationalize these actions because of that. Its like stealing from a big corporation, that level of abstraction let's people think it isn't as bad as it is.

@@shawnjavery or defrauding your customers.... that used to be illegal.. Would you call it fraud to INFLATE appraisals, Abrogate Underwriting (turning it into a joke and what board of directors were PAID OFF TO LET THAT HAPPEN) or INFLATE RATINGS.... and this works in Healthcare also.. the more that is paid for healthcare, the more the premiums are and the more administration and profit can be extracted... while over 50 million people cannot even afford to get the Covid vaccine, let alone get treated for Covid.

The underlying problem is that people can own the means of production. If you allow people to use money to make money, it creates a class society divided into the haves and have-nots.