Economists: Crime (Bank Robbing) Does Not Pay

Other discussions not related to the Permanent Portfolio

Moderator: Global Moderator

Post Reply
User avatar
dualstow
Executive Member
Executive Member
Posts: 15332
Joined: Wed Oct 27, 2010 10:18 am
Location: searching for the lost Xanadu
Contact:

Economists: Crime (Bank Robbing) Does Not Pay

Post by dualstow »

Interesting piece from Boing Boing:
http://boingboing.net/2012/06/14/robbin ... y-way.html

Cory Doctorow writes:
"Robbing banks: Crime does pay – but not very much," a paper by academic economists commissioned by the Royal Statistical Society and American Statistical Association on the economics of bank-robbery concluded that bank-robbers are wasting their time. The return from robberies is "rubbish"
They do the numbers. Average take per person per raid, how long the score will last you, the fact that you'll almost certainly caught if you keep at it. Not as glamourous as the movies make it seem.  :)
RIP OZZY
User avatar
Greg
Executive Member
Executive Member
Posts: 1126
Joined: Sun May 20, 2012 6:12 pm
Location: Maryland

Re: Economists: Crime (Bank Robbing) Does Not Pay

Post by Greg »

That certainly didn't seem like much money at all. Now if they could turn bank robbing into a pyramid scheme where you recruit others to steal from banks and you get a portion of the proceeds, then you'll be making some serious "bank" ;).
Background: Mechanical Engineering, Robotics, Control Systems, CAD Modeling, Machining, Wearable Exoskeletons, Applied Physiology, Drawing (Pencil/Charcoal), Drums, Guitar/Bass, Piano, Flute

"you are not disabled by your disabilities but rather, abled by your abilities." -Oscar Pistorius
User avatar
dualstow
Executive Member
Executive Member
Posts: 15332
Joined: Wed Oct 27, 2010 10:18 am
Location: searching for the lost Xanadu
Contact:

Re: Economists: Crime (Bank Robbing) Does Not Pay

Post by dualstow »

1NV35T0R wrote: That certainly didn't seem like much money at all. Now if they could turn bank robbing into a pyramid scheme where you recruit others to steal from banks and you get a portion of the proceeds, then you'll be making some serious "bank" ;).
Or Fagin and his band of young pickpockets. Let the Artful Dodger do the work.
RIP OZZY
User avatar
Ad Orientem
Executive Member
Executive Member
Posts: 3483
Joined: Sun Aug 14, 2011 2:47 pm
Location: Florida USA
Contact:

Re: Economists: Crime (Bank Robbing) Does Not Pay

Post by Ad Orientem »

I think I raised the point on a thread about storing gold and the discussion had turned to safe deposit boxes. Bank robbery has gone out of style. It's very high risk and low return. Smart crooks don't rob banks.
Trumpism is not a philosophy or a movement. It's a cult.
User avatar
Greg
Executive Member
Executive Member
Posts: 1126
Joined: Sun May 20, 2012 6:12 pm
Location: Maryland

Re: Economists: Crime (Bank Robbing) Does Not Pay

Post by Greg »

Ad Orientem wrote: I think I raised the point on a thread about storing gold and the discussion had turned to safe deposit boxes. Bank robbery has gone out of style. It's very high risk and low return. Smart crooks don't rob banks.
So smart crooks steal from homes (hopefully finding gold) or smarter crooks do white-collar crime?
Background: Mechanical Engineering, Robotics, Control Systems, CAD Modeling, Machining, Wearable Exoskeletons, Applied Physiology, Drawing (Pencil/Charcoal), Drums, Guitar/Bass, Piano, Flute

"you are not disabled by your disabilities but rather, abled by your abilities." -Oscar Pistorius
cabronjames

Re: Economists: Crime (Bank Robbing) Does Not Pay

Post by cabronjames »

true, CXO exec bank$tas rob the bank they obstensibly work at, they rob their shareholders.  Examples: Lehman Bros exec, MF Global's Jon Corzine.  Those are just the ones that robbed their bank so excessively they officially bankrupted the bank.

afaict all the 2B2F Bank$tas in Fall 2008 like JP Morgan's Jamie Dimon & Goldman Sach's Blankfein also bankrupted their banks, if official ethical & CPA type accounting was used as opposed the Enron-ish fraud "mark-to-make believe" accounting, as well as the Bank$ta Welfare Bailouts from their owned Treasury stooges like H Paulson & Timmeh Geithner, & Fed Reserve lackey Bernake, & both Obamney guys.

in fact this is why the slang term "Zombie Bank" exists for the US ~2008-now 2B2F Banks, & the 1990s Japanese Zombie Banks:  These banks are Dead/bankrupt, they are back from the dead as Zombies by the Enron-ish accounting & Government Welfare/Bailouts.

btw don't expect to see this covered much on major US media: these Zombies own plenty of paid "presstitutes" (word to Paul Craig Roberts) like Srsly Burnett at CNN.
Last edited by cabronjames on Sun Jun 17, 2012 11:59 am, edited 1 time in total.
Post Reply