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View Diary: The era of shared sacrifice is over (330 comments)

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  •  Its both (8+ / 0-)
    A culture of corruption is growing up right now (as is to be expected when you move to the same system that the Russians have with oligarchs in control) and corruption within existing legal frame works:

    "Nancy Boswell, president of TI in the United States, said lending practices in the subprime crisis, the disclosure of Bernard Madoff's Ponzi scheme and rows over political funding had all rattled public faith about prevailing ethics in America.

    "We're not talking about corruption in the sense of breaking the law," she said. "We're talking about a sense that the system is corrupted by these practices. There's an integrity deficit."

    Various financial scandals at state and city level had encouraged the impression that the regulatory oversight was weak and that influence could be bought, she added."

    The example that comes easily to mind is the Rocket Courts of FL regarding mortgage fraud where the central issue is fraudulent documents are not only passing through the court but the courts are not even looking at the documents. Thus giving the appearance of legality but substantively its a corrupted process.

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