South Korea might be one of the most wired places in the world, but it’s not necessarily the most Internet friendly. Park Dae Sung, 31, an unemployed blogger now finds himself in hot water for allegedly being “Minerva,” a web guru who posted his thoughts on the state of the economy and the government’s economic policies. Those thoughts generated huge attention in Korea, particularly following Minerva’s prediction that Lehman Brothers would fail. Those musings, however, have not sat well with Seoul. Now Park has been taken into custody by the government and, according to his lawyer, faces a maximum five-year prison sentence for allegedly spreading false information with the intention of harming or threatening public interest. Late last week, Park was denied bail.
Found by Scott Diaz.
First they ignore you, then they laugh at you, then they fight you, then you win.
But, if you are predicting the end of the financial world what, exactly, is the prize?
#12, Terry,
Congressman Barney Frank (Chair of the House Banking Committee) called Alan Greenspan a “Chicken Little” in 2004 when he warned that Fannie Mae and Freddie Mac should not be permitted to increase their debt ratio, because they were already overextended way back then. Congress ignored his warnings and allowed both Fannie and Freddie to dig their graves even deeper.
Do you have any proof that Alan Greenspan said anything like that? Post a link quoting Frank calling Greenspan a “Chicken Little”.
I guess you forgot that Greenspan was the Chairman of the Federal Reserve, a Reagen appointment, and had nothing to do with oversight of the FMs, and, in 2004, Frank was not the Chairman of the House Banking Committee.
Why do people have to invent bullshit like this.