Morgan Stanley and AIG bought 2 Billion bushels of cereal grain and withheld it to artificially inflate commodity prices???
So when they went bust it was because they were speculating in commodities like grain and oil??
And we bailed out AIG. Thats BS!
>>>Morgan Stanley and AIG bought 2 Billion bushels of cereal grain and withheld it to artificially inflate commodity prices???
So when they went bust it was because they were speculating in commodities like grain and oil??
And we bailed out AIG. Thats BS!<<<
I hate to tell you this, but that is just the tip of the iceberg -
Like $19 Billion to ‘bail out’ one bank who promptly put it all into Treasury Bonds which the Goober-mint was selling to finance more ‘bail-outs) - Hey, the yield won’t be but .44% but $83,600,000.00 Guaranteed profit - No risk - AND they can use that $19 Billion Asset as ‘collateral’ to leverage 11 times the $19 Billion for speculation..... Maybe short stocks, commodities, etc.
Then there are the large blocks of ‘troubled assets’ bought by the Goober-mint - for face value - not current value... That would be where a loan for a house was for $300,000 and they had paid it down to $180,000 but were having trouble making the payments, so they sold the loan to the Feds for - $300,000 - but they can only collect $180,000 for it... In their infinite stupidity, they never thought of letting the borrower refinance and lower his payment from $2,500 on the original loan to $1,100 on the current balance of $180,000. You may have heard where they were talking about the Goober-mint ‘overpaid’ by several billion for troubled assets - that was one of them... Corrective Action taken - NONE... Several billions to the banks - Who say - Hardy har har har - we put one over on those Federal ‘rubes’.
OK, there are a whole bunch more - but not only will I but probably you too will get our blood pressures way up. Not good for either of us...
The old saying that ‘Out of crisis and confusion there are fortunes to be made’. Ponzi schemes, shell games - find the hidden pea... you know all those good old ‘American’ traditions...
There is not enough BS in the world to cover it - need horses, hogs, chickens too just to - - oh well, maybe I’ll just keep digging through this horse manure because there is bound to be a pony in there somewhere...
Frustrating - totally frustrating......
Pardon me while I take a few DEEP breaths and SLOWLY exhale... That will probably do more than thinking about it.