Thread:

Derivatives....and the US Government

Originally Posted by LiquidDan

Anyone catch the 4 hour documentary on PBS called "Money Power and Wall Street"
Every taxpayer should be required to view this
Wall Street and the Government are letting this happen!

Dan, the single biggest proplem with a program like that is that it zooms right over the heads of the majority of the public, or they simply will not take the time to watch. If it aires in the same time slot as American Dad, Biggest Loser, or Think You Can Dance, it not going to be watch. You're 100% correct, it should be REQUIRED veiwing to vote, drive, or have a checking account. The government and Wall St don't even have to go out of their way to keep you from watching it. So few will watch, and even will figure it even matters. The government and Wall St key off the ignorance of the average American.
Its way easier to blame the "rich" Ignorant Americans can understand "rich". So the government and Wall St aim the hatered at YOU DAN! They aim it at anybody with a business and emplloyees. Its now WORKER AGAINST EMPLOYEE. YOU are the problem, becuae YOU are easier to understand, and easier to target.
Upper middle class, and hard working business people are the ones that will take the hit for the ill feelings those people hold. They hate the banks and the financials, but because YOU are easier to blame, the small business owner will take the heat for all this.


I know people that worked in the financials and Wall St 30+ yrs ago, and they are disgusted with the way the sector operates today.

Originally Posted by Jake

derivatives were illegal untill congress passed a bill several years ago making them legal, be upset with congress for getting paid to pass the bill.

They still are. People think that Dodd-Frank fixed this. It didn't do shit except allow banks to charge you for crap they could never get away with before. The "consumer banking" bill they passed didn't fix shit in the commercial sector. Wall St is still cooking away with the newest latest scheme to make money from those that can least afford it. When those ignorant people that have no business seeking loans AT ALL, either scam back across the border, or simply disappear, you and I will bail them out again thru the "government guarantees" The insane thing is that the very people that are looking for these loans, either morgages or student loans have no clue that means TAX PAYER GUARANTEE!!!
The ones like Solyndra that are getting those loans, they are laughing all the way to the bank.

Originally Posted by zombie

Here is a summary of the documentary :

Ummagumma: A Summary of Money, Power, and Wall Street

Nice piece.


And an article on American capitalistic greed (BTW, the true religion of choice with many rightie PRFers ) :


How greed outstripped need

Bwa ha ha. Who paid for that 2nd POS?
Ok, I don't have magical solutions here. We always had the rule that banks (who take deposits) had to be careful. It seems to me if we're gonna regulate, don't be half assed about it. And if we're not gonna regulate, NO Fockin Bailouts.
But be careful where you point fingers, Z, the govt. corruption involved in printing $ is much worse.

Originally Posted by SBjet

But be careful where you point fingers, Z, the govt. corruption involved in printing $ is much worse.

Lets not forget, part of the reason the government needs to cheat and rob THE TAXPAYER is to pay 4 million plus employees PLUS the insane unearned pensions.

Printing money is pure theft.

Inflation is taxation without legislation.
Milton Friedman