Monday, December 28, 2009
Early Parole: I hope they don't let the VIOLENT ones OUT?
Princeton University economists and computer scientists have proven through science that financial derivatives are also inherently vulnerable to fraudulent pricing. This confirms what many of us have always thought about the financial junk known as credit default swaps and mortgage-backed securities. Who knows? Maybe Lyndon Larouche is right? With hundreds of trillions of phony money in derivatives, perhaps we should simply dump it. Frankly, I'm more concerned about the one the country's more immediate problems: crime.
In Michigan, funds are drawing low for law enforcement and as a result, more prisoners are being released from prison early. Historically, at least 40% of Michigan parolees commit a crime after they have been released. So what does this mean? Thousands of convicts will hit the streets with little or no job prospects in one of the worse economic environments in American history. That is a receipt for disaster. I hope they don't let the violent ones out.
Princeton Economist, Computer Scientists Show Derivatives Are Inherently Vulnerable to Fraud
Prosecutors fear cutbacks may spur early prison releases