Ahhh -- Where's all the money?
That's as good as money sir. Those are I.O.U.s Go ahead and add it up. Every cent is accounted for.... you might want to hang onto that one.
Bump.
“In Tuesday, March 11th, 2008, somebody — nobody knows who — made one of the craziest bets Wall Street has ever seen. The mystery figure spent $1.7 million on a series of options, gambling that shares in the venerable investment bank Bear Stearns would lose more than half their value in nine days or less”
1.7 mil is loose change. Wonder why the Rolling Stone commie isn’t concerned about the 500 billion dollar run on money market accounts on Sept 18th?
And yes, Taibi is the new Michael Moore commie clown.
bump
bump
Was Taibbi right? I suspect he's more right than the insider posters on this thread are willing to admit, but heck, how do I know, I'm just a computer programmer, albeit one who has spent the better part of his free time the past year trying to understand what happened in 2008.
Whether it happened the way Taibbi says it did or not, of one thing I'm sure. Last year was one massive; government, central bank, wall street tag team clusterf*Ck of the American people.
Not that we weren't bent over and spread wide asking for it.
What fools we were! Look at the politicians we elected (and continue to elect) who brought us the CRA, Freddie and Fannie, and moral hazard out the yin yang. And look at us, trusting a group of central planners at the Federal Reserve to get the price of money right when they haven't done so in 96 years. And freaking look at us, so easily convinced that houses, which are after all CONSUMABLES, albeit long lasting ones, will always RISE in price, along with stocks!
Anybody who wants to argue that we got what we deserved gets no argument from me.
But now it's time to get a clue, people.
Take anything a wall street insider (including those posting on this thread regardless of the fact they're FReepers) has to say with a grain of salt. And for goodness sakes, don't believe ANYTHING the government says, regardless of whether it's being run by D's or R's. Oh... and END THE FREAKING FED! Central planning doesn't work. Never has. Never will.
Ahhh -- Where's all the money?
That's as good as money sir. Those are I.O.U.s Go ahead and add it up. Every cent is accounted for.... you might want to hang onto that one.
Great post, Wolfie!
B T T T