“I Will Never Do Business In The United States Of America Again”

Two-Out-Of-Three Americans (66%) Believe the Federal Government Has Not Been Aggressive Enough In Pursuing  Criminal Behavior By Wall Street Bankers

A poll last month from Rassmussen found:

Two-out-of-three Americans (66%) believe the federal government has not been aggressive enough in pursuing possible criminal behavior by some Wall Street bankers ….

Top economists and financial experts agree that our economy will never recover unless Wall Street fraud is prosecuted. See this and thisLibertarian, free market economists agree.

Trust is necessary for a stable economy, and fraud prosecutions are necessary to restore trust.   But – because D.C. politicians are prostitutes (pimps, technically) – the government has made it official policy not to prosecute fraud, and instead to do everything necessary to cover up for Wall Street. Indeed, Obama is prosecuting fewer financial crimes than under Reagan or either Bush.

Things have become so lawless in America that one investor wrote – in response to the theft of over a billion dollars of client funds by MF Global:

I will never do business in the United States of America again.   The system to protect futures accounts is broken.   And the whole world knows knows it.

(He’s not the only one).

Europe is no better.

No wonder the European and American economies are on the ropes.  On the other hand, Iceland – which is prosecuting banking fraud at the CEO level (see this and this) – is actually recovering.

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  • The requirement is not just trust about, but also due process. It was the basic failure of due process, and favoring the law of rule over the rule of law, not a lack of market economics as practiced by many countries at the time, that kept Latin America from being a place favorable to form new business in the last century. The United States today is repeating these very failures while becoming a kind of Wallstreet financial Banana Republic now. Without justice there is also no economy.

    I have created companies before in the United States, companies that actually have successfully produce things around my ideas, but this time it is not to be in the United States. Instead we are organizing in Norway. The legal and political climate today is very unfavorable to new business formation here, and in fact rather dangerous to doing it, especially in respect to technology. Like your title quote, I will not do business again in the United States either, and increasingly the best and brightest now see this truth and do simply leave.

  • An Old Veteran

    It won’t be allowed here in the USA because the politicians themselves are just as guilty as the criminals who crashed the economy with fraudulent and felonious operations.

  • Kevn0

    I have never in my life trusted Wall Street or Washington. None of this was a surprise to me.