Thursday, February 19, 2009
The Fall of Humpty Dumpty
Humpty Dumpty sat on a wall,
Humpty Dumpty had a great fall;
All the King's horses and all the King's men,
Couldn't put Humpty together again.
Unfortunately, the executives -- at Wall Street and elsewhere -- responsible for the current woes facing America and the world will not suffer much. They have made obscene amounts of money and stashed it away. It is a different story for the people who lost their jobs directly or indirectly from the actions of the shysters.
The Royal Bank of Scotland is staggering under load of its toxic assets.
A step in the right direction though is that both American and British governments are moving against the long-standing practice by Swiss banks to provide shelter for ill gotten wealth of shady people -- from drug dealers to corrupt politicians -- of different national origins. See: The End of Swiss Banking as We Knew it (Business Week).