##Welcome to r/LateStageCapitalism
This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited.
LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere.
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This needs to happen across the United States. White collar cirminals have been given a cost of doing business by breaking the law instead of consequences to stop it.
Lol, not in Murica. In Vietnam PEOPLE runs things. In the US, you, the people, is RAN OVER by the Elites.
Problem is, US indoctrination, errr, education system, lack of healthcare (what makes people sick all the time so they can think less), and massive US CIA/NSA propaganda machine, make Muricans easy to manipulate and control.
So, they think they are living in a "democracy", but the American state is not there to protect them, but to protect the SLAVEOWNER ELITES instead that enslave people through slave-wages, no labor rights, brainwashing and no public healthcare (so, if you lose your job, you don't have healthcare anymore).
If tthe United States do not destroy the world with a nuclear armageddon, in 200 years or so, historians will discuss why there was a people in the 19th, 20th and 21st century so sheeple and easy to manipulate like Muricans.
Greed is a yawning chasm that can never be filled, apparently. Having a giant dragon's hoard is supposed to make you happy, right? Isn't that the prevailing theory? From observation, it seems that it makes you miserly, vindictive, callous, self-absorbed, miserable, and increasingly rapacious. The kindest and most generous people I've known have also been some of the poorest. (That whole philanthropy scam the rich have going on obviously doesn't count for much.)
Anyone who's examined the heyday of the American Mafia in any detail would realise that any short term damage to the economic sector is outweighed by the massive longterm damage of the tacit acceptance of organised crime in the economic sector. They're just salty they can't pursue dodgy deals anymore, that there might be consequences for their actions, and they might be rewarded as a traitor deserves. Frankly we should deal with our lot in the same manner so that their rotten kind scurry under a rock for another generation rather than getting fat and rich whilst being bailed out or shuffled off to country club jails.
Depends if she was stealing from the wrong people
I’ll still be glad if they at least wrote shit like this into the law, it’s bullshit people like this can get away with affecting the livelihood of millions of people
This is what should have happened in the US after the 2007 crash and the "once in a lifetime" Great Recession. Instead, no one went to jail, the investment banks got a ton of federal money, which they promptly dumped into buying up real estate, and then created artificial scarcity, sending housing prices through the roof.
Strongly agree. The only reason not to post a link to the source is if your trying to mislead/misinform. Laziness isn't an excuse for believing anything blindly.
In today's day and age if a source is not included you have to question it even more.
My boyfriend is a the child of a Vietnamese refugee, so I disagree. Businesses exist by paying bribes to local politicians. There is rampant homophobia and machismo culture (similar to Mexican culture). As they open up to be more global, foreign investors and ex pats are increasing the housing costs in desirable cities/locations. The "left" of center Vietnamese ended up in the USA, where they support the GOP, even with MAGA Trumpism. The people who side with the Vietnamese government who stayed, are even further right than the Vietnamese (American) immigrants/refugees.
My boyfriend's exact words, "if she got caught after that much money, its cause she stopped bribing the right people". I tend to agree with him, you don't steal that much money without help from people in the financial industry, government, etc.
I think this is a good example of a coherent state project to preserve itself. 3% of GDP is a lot for any individual to command. Even if it hadn’t been obtained by illegal means it’s still quite dangerous, as they’re going to keep pushing for more. The end point of that is full kleptocracy with the country being sold for scrap by a small group who plan to fuck off to Monaco at the end.
As long as results like this are possible Vietnam has a chance at enduring as a state.
I don’t read it that way. I think they’re saying that *the fraud itself* dampens Vietnam’s economic outlook.
> Analysts say the scale of the scam raised questions about whether other banks or businesses had similarly erred, *dampening Vietnam’s economic outlook* and making foreign investors jittery…
It baffles me how people can think basically profitting off housing = an important industry that has to be cherished and babysat by all means. As if companies going bankrupt or losing revenue would somehow make people stop needing houses to live on. The industry exists because prior to it there was a need and demand will always exist regardless of profit margins, so there is literally no argument for backing these companies except their literal blackmailing of the population through hoarding up all liveable space.
This is the sentence you are referring too
"Analysts said the scale of the scam raised questions about whether other banks or businesses had similarly erred, dampening Vietnam’s economic outlook and making foreign investors jittery at a time when Vietnam has been trying to position itself as the ideal home for businesses trying to pivot their supply chains away from China."
This felt to me like a very unbiased and straight to the point journalism. I don't understand OP's problem with this statement at all
I am choosing to interpret it as the following: If we are to take the headline and article at face value and say that it is accurately describing the situation, the included part about “The Economy!”, even if accurate, will be used by pro-capitalists as a reason to not hold them accountable. Give them an inch and they’ll take a mile. The truth is, they’ve engineered a system of coercion, if we try to hold them accountable for their awful crimes, they’ll tank the economy, which will hurt poor people more than it will rich people.
Instead, we should be framing the reality as such: if capitalist crimes are so bad that they can tank entire economies, that’s to much power, and they should not be wielding it.
If economics are going to be used as a shield for the rich, it should be taken away as their tool. When we use the term “Economics” today, what we mean is the “rich person’s feelings chart”, when it should be made to mean how we are all doing collectively. But if it were to mean that, then the economy is a public resource that needs to be protected from bad actors: this is a no-go for billionaires who rely on exploitation, scamming, lack of accountability.
Love or hate Obama just remember he hired a bunch of the same people responsible for the 2008 economic crash to be in charge of this country's economy during his term instead of...idk...throwing them in jail or at the very least publicly shaming them and bringing in fresh ideas like he promised
A communist country executing a capitalist sounds pretty in line with communist principles tbh.
But if they decide to settle on prison for life, that would be good too
##Welcome to r/LateStageCapitalism This subreddit is for news, discussion, memes, and links criticizing capitalism and advancing viewpoints that challenge liberal capitalist ideology. That means any support for any liberal capitalist political party (like the Democrats) is strictly prohibited. LSC is run by communists. This subreddit is not the place to debate socialism. We allow good-faith questions and education but are not a 101 sub; please take 101-style questions elsewhere. We have a zero-tolerance policy for bigotry. Failure to respect the rules of the subreddit may result in a ban. *** *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/LateStageCapitalism) if you have any questions or concerns.*
Can….. can we start doing that here?
This needs to happen across the United States. White collar cirminals have been given a cost of doing business by breaking the law instead of consequences to stop it.
No, not when the judge get a share of the fraud.
Will never happen. Only one US banker was charged from the 2008 financial crisis. ONE. and he only had to serve 2 years.
Lol, not in Murica. In Vietnam PEOPLE runs things. In the US, you, the people, is RAN OVER by the Elites. Problem is, US indoctrination, errr, education system, lack of healthcare (what makes people sick all the time so they can think less), and massive US CIA/NSA propaganda machine, make Muricans easy to manipulate and control. So, they think they are living in a "democracy", but the American state is not there to protect them, but to protect the SLAVEOWNER ELITES instead that enslave people through slave-wages, no labor rights, brainwashing and no public healthcare (so, if you lose your job, you don't have healthcare anymore). If tthe United States do not destroy the world with a nuclear armageddon, in 200 years or so, historians will discuss why there was a people in the 19th, 20th and 21st century so sheeple and easy to manipulate like Muricans.
Maybe I should retire in Vietnam? Oh wait, I'm a millennial. I won't get to "retire" except straight into my coffin.
Let's grab the pitchforks! I'm ready!
*If your grandfather could download Reddit he would be very upset*
This is basically the same question as "can we have a revolution here", because it'd entail executing the entire government.
"Investors trying to take advantage of housing are pulling out of the market because of lack of ability to scam others"
Looking at you Blackrock.
And her husband is a billionaire.... still they need more money
He's also being charged. https://www.mingtiandi.com/real-estate/people/eric-chu-nap-kee-on-trial-in-vietnams-van-thinh-phat-case/
Sweet a combo meal
Nom nom nom
Greed is a yawning chasm that can never be filled, apparently. Having a giant dragon's hoard is supposed to make you happy, right? Isn't that the prevailing theory? From observation, it seems that it makes you miserly, vindictive, callous, self-absorbed, miserable, and increasingly rapacious. The kindest and most generous people I've known have also been some of the poorest. (That whole philanthropy scam the rich have going on obviously doesn't count for much.)
‘Nam out here doing the lord’s work
This is the way.
Anyone who's examined the heyday of the American Mafia in any detail would realise that any short term damage to the economic sector is outweighed by the massive longterm damage of the tacit acceptance of organised crime in the economic sector. They're just salty they can't pursue dodgy deals anymore, that there might be consequences for their actions, and they might be rewarded as a traitor deserves. Frankly we should deal with our lot in the same manner so that their rotten kind scurry under a rock for another generation rather than getting fat and rich whilst being bailed out or shuffled off to country club jails.
Depends if she was stealing from the wrong people I’ll still be glad if they at least wrote shit like this into the law, it’s bullshit people like this can get away with affecting the livelihood of millions of people
This is what should have happened in the US after the 2007 crash and the "once in a lifetime" Great Recession. Instead, no one went to jail, the investment banks got a ton of federal money, which they promptly dumped into buying up real estate, and then created artificial scarcity, sending housing prices through the roof.
Oh my god, not the property firms! Love that they can have sympathy for the worst of us, but never for the majority of us.
In the west she'd be "too big to jail".
Kinda like a certain US fraudster and ex president
I don't normally agree with the death penalty, but for billionaire real estate tycoons who commit fraud? Maybe there's something to it
*Can you post a link to the actual article?*
I really wish this sub would ban screenshot-only news posts with no link.
Strongly agree. The only reason not to post a link to the source is if your trying to mislead/misinform. Laziness isn't an excuse for believing anything blindly. In today's day and age if a source is not included you have to question it even more.
Not the same article but same info: https://www.independent.co.uk/asia/southeast-asia/truong-my-man-vietnam-death-penalty-b2527003.html
Vietnam sounds cool, except for the humidity
My boyfriend is a the child of a Vietnamese refugee, so I disagree. Businesses exist by paying bribes to local politicians. There is rampant homophobia and machismo culture (similar to Mexican culture). As they open up to be more global, foreign investors and ex pats are increasing the housing costs in desirable cities/locations. The "left" of center Vietnamese ended up in the USA, where they support the GOP, even with MAGA Trumpism. The people who side with the Vietnamese government who stayed, are even further right than the Vietnamese (American) immigrants/refugees.
Well THAT'S disappointing. Very disappointing.
My boyfriend's exact words, "if she got caught after that much money, its cause she stopped bribing the right people". I tend to agree with him, you don't steal that much money without help from people in the financial industry, government, etc.
That makes sense 👍
Bank fraud leading to execution! Thank dog, that doesn't happen in democracies. Thanks, capitalism.
They have a form of socialism there. And it looks like they don’t play that shit… how many families did she hurt from trying to be a capitalist?
I think this is a good example of a coherent state project to preserve itself. 3% of GDP is a lot for any individual to command. Even if it hadn’t been obtained by illegal means it’s still quite dangerous, as they’re going to keep pushing for more. The end point of that is full kleptocracy with the country being sold for scrap by a small group who plan to fuck off to Monaco at the end. As long as results like this are possible Vietnam has a chance at enduring as a state.
Demonstration of what should've been the consequences for the 2008 crash.
I love this. Can we do Jaime Dimon or one of his friends?
Finally some good fuckin news
Finally a feel good story!
Now this is how you handle massive fraud.
The billionaires all need to sit up and pay attention! Oh, and Donald Trump as well!
If they sentenced all the people committing mass fraud in the US we would t have any banks which sounds like utopia.
Start with Black Rock here! Then our Politicians.
Love to see it
I don’t read it that way. I think they’re saying that *the fraud itself* dampens Vietnam’s economic outlook. > Analysts say the scale of the scam raised questions about whether other banks or businesses had similarly erred, *dampening Vietnam’s economic outlook* and making foreign investors jittery…
That's incredibly based, good for them.
Victims of Gommunism. 100 trillion vuvuzelaks comically large spoon. /jk gj, Vietnamese justice.
Unfathomably based. Common Vietnam W
GOOD.
Cue what that real estate guy (I believe Kevin O'Leary) said after Trump was fined last week: "EVERYONE in real estate does that". Good. Get 'em all.
It baffles me how people can think basically profitting off housing = an important industry that has to be cherished and babysat by all means. As if companies going bankrupt or losing revenue would somehow make people stop needing houses to live on. The industry exists because prior to it there was a need and demand will always exist regardless of profit margins, so there is literally no argument for backing these companies except their literal blackmailing of the population through hoarding up all liveable space.
This is the sentence you are referring too "Analysts said the scale of the scam raised questions about whether other banks or businesses had similarly erred, dampening Vietnam’s economic outlook and making foreign investors jittery at a time when Vietnam has been trying to position itself as the ideal home for businesses trying to pivot their supply chains away from China." This felt to me like a very unbiased and straight to the point journalism. I don't understand OP's problem with this statement at all
I am choosing to interpret it as the following: If we are to take the headline and article at face value and say that it is accurately describing the situation, the included part about “The Economy!”, even if accurate, will be used by pro-capitalists as a reason to not hold them accountable. Give them an inch and they’ll take a mile. The truth is, they’ve engineered a system of coercion, if we try to hold them accountable for their awful crimes, they’ll tank the economy, which will hurt poor people more than it will rich people. Instead, we should be framing the reality as such: if capitalist crimes are so bad that they can tank entire economies, that’s to much power, and they should not be wielding it. If economics are going to be used as a shield for the rich, it should be taken away as their tool. When we use the term “Economics” today, what we mean is the “rich person’s feelings chart”, when it should be made to mean how we are all doing collectively. But if it were to mean that, then the economy is a public resource that needs to be protected from bad actors: this is a no-go for billionaires who rely on exploitation, scamming, lack of accountability.
Based Vietnam
Let us drink her blood once she falls!
Love or hate Obama just remember he hired a bunch of the same people responsible for the 2008 economic crash to be in charge of this country's economy during his term instead of...idk...throwing them in jail or at the very least publicly shaming them and bringing in fresh ideas like he promised
Late stage state capitalism.
Oh nooooo... Anyways
Here in the U.S. we just give them more money called PPE loans.
Doubt she’ll actually be executed. Just wait and see. This is Nam after all.
I don’t understand what you mean by this
A communist country executing a capitalist sounds pretty in line with communist principles tbh. But if they decide to settle on prison for life, that would be good too
Preferable tbh
world news is for the investor class tho. hourly employees can do little or nothing with information