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Monday, April 12, 2010

Too big to Nail

Several bloggers pointed out that a judge held off on a guilty plea from Boston Scientific on covering up they issued defective components in heart defibrillator.

Also that Pfizer was found to break the law by mis-marketing drugs for use other than approved by the government.

While this on the surface seems not a big issue, both are starting to show a a pattern, that I am seeing continually evolve. Too Big to Fail, now too big to Nail. America was once looked upon as a nation of laws, it is becoming what many other countries are, a nation of wealthy privilege.

The Boston Scientific issue is not yet resolved, so there is still hope for Law vs Privilege. But if Boston Scientific isn't held to task on the letter of the law, it will show that corporate privilege ignoring the law doesn't end in the financial sector. One case doesn't prove anything, but time will tell if a pattern is emerging.

What does this have to do with stocks? Well, I have been away from my daily rantings, doing quite a bit of thinking, I hope to issue a series soon.

Dow 11K Monday, skies the limit until 30 year us treasury bond hits 5-5.4% range.

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