Posted on 03/23/2008 5:49:23 PM PDT by DeaconBenjamin
That’s nice. But if these popcorn fart financial devices aren’t (gasp!) regulated out of existence, it will just happen again. And again. And again.
I've never, ever liked that pompous, arrogant mumbler. Thank God he is out of there.
$13.4 TRILLION??? Uh.. We’re starting to talk, REAL money?
Can some financial wiz please come along and splain to me why this article shouldn’t worry me?? Puh-lease????
bump
Grind.
hmm
"Twenty years ago the Fed would have let Bear Stearns go bust," said Willem Sels, a credit specialist at Dresdner Kleinwort. "Now it is too interlinked to fail."
That's pretty much exactly what you said, Travis.
Can anyone explain what "reinsurance chains" means? And credit default swaps? Good grief, one needs a master's degree just to understand the vocabulary.
Also, aren't derivatives what caused Orange County, CA to go bankrupt way back last century?
Derivatives sound a lot like the modern version of what touched off the Great Depression.
“...$516 trillion derivatives system ...”
What? $516 TRILLION, theres not even that much money on the world.
Are they talking Monoply money? What is this hocus-pocus shnanagins junk?
I think it would be easier to understand the Unified Field Theory then to understand this financial stuff.
Ask Toddster any questions you might have. He’ll be happy to answer them.
Nice to see a smart money man slam that assclown Greenspan, who should be in Gitmo right now. I am so sick of years of acclaim for the worst Fed chairman in history.
I think that might be the problem.
Excellent article.
One problem with this article is that it really does not tell us anything. It could have been written by a reporter with a first grade education. In fact, maybe it was. Recite a few well-known facts, take some quotes out of context, and throw-in some meaningless scare phrases like “the Fed has crossed the Rubicon of central banking,” “resorted to the ‘nuclear option’, “Depression-era clause,” and “the meltdown panic,” and lo and behold a newspaper article appears.
Someone with something to gain likely spurred this “reporter” into writing this gibberish. Likewise, we will eventually likely learn that someone (probably a few hedge-fund managers) with something to gain brought down Bear Stearns (not that the Bear Stearns management doesn’t deserve plenty of blame for putting its organization in a position where those with something to gain could kill it).
Who would have thought that Democrat efforts that began in the 1980s to eliminate so-called redlining in the housing market would lead to this? This is what happens when housing becomes a “right” rather than a responsibility.
Shhh?
LOL! that was mean.
Now, Now, advice is welcome from all angles.
LOL! I guess.
From what I’ve read of his answers, he isn’t keen on sharing knowledge.
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