Friday, February 22, 2013

Cenk: Wall Street Setting Up Financial Armageddon

Here we go again! Diane Sweet at Crooks and Liars shares some facts about how this economy is being looted to the max before the next/final(?) crash:



"A crucial change in the way financial derivatives are packaged and sold on Wall Street is enabling traders to bypass new regulations aimed at limiting reckless speculation, enhancing the prospect of another derivatives crisis, warn some market participants."
 
The Dodd-Frank financial reform law came into effect in 2010 in response to the financial crisis- it required safeguards for investors to cover losses on their derivatives trades. But what if investors found another, risky, way around that? That's what's happening now...."

2 Comments:

Blogger Jefferson's Guardian said...

Tick, tick, tick, tick, tick...tick, tick tick, tick, tick...

What did Cenk say? There are over $600 trillion of derivatives...oh, excuse me, "futures"...floating around out there right now. That's way more than the value of all the world's economies combined.

Tick, tick, tick, tick, tick...

8:50 PM  
Blogger Father Tyme said...

And somehow it's our fault.

The minorities who intentionally and intelligently defrauded the mortgage people; the students who are killing the economy with less than 1/2 or 1 percent of the deficit whose interest rates have sky-rocketed the last 12 years; the seniors for having the ridiculous audacity to want health care at affordable costs; the consumers for wanting to drive (in freedom) and consequently cause Big Oil to have more subsidies; the people again who need to be observed in their every movement to prevent a POSSIBLE bad guy from doing some kind of harm to someone in the U.S.; the people still again for their stupid desire to fly places which causes the gov to have to provide protection to them from the aforementioned bad guy (and his shoes and 3 oz bottles and 5 year-old wheel-chaired girls stuffed animals); the people yet again for their failure to accept the Bush/Obama fake wars to protect us from the previously mentioned bad guy; and last but not least all the American people who aren't in Big Business or Wall Streeters or Bankers, etc. for not not willingly contributing to the TARP and Stimulus and Bailouts of the BuBama Administrations which the ConDems said was necessary to prevent...inflation? recession? poverty? I can't seem to remember. Do you?

We're such a nation of takers! Why can't we all be more like business who all get along so well, bu cause NO trouble and...IF they do, they ALWAYS get properly punished?

Why can't we all just get along and accept what our betters tell us is good for us and ignore all those pesky lies about how business and government is trying to screw us when they REALLY just have the best interests of the country at heart?

We're just such whinning brats, eh?

10:14 AM  

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