NY Times Exposes Terrible Big Bank Bet Scam
March 22nd, 2010 |
|
25 Comments »
Vote TYT everyday through 1/15/10 @ streamy.org: tinyurl.com Follow us on Twitter: twitter.com Check Out TYT Interviews www.youtube.com Watch more at www.theyoungturks.com
Comments (25)
March 22nd, 2010 at 04:57
I would make the argument that the author is being rather arrogant in his tone, without even understanding what these products are. In fact, I noticed he even has trouble pronouncing some of these things. Now, you don’t see me starting a blog and trying to make an argument on whether or not Pluto should be called a Planet, right? I leave that task to people who are more familiar with the issue than I am.
March 22nd, 2010 at 05:40
Hey… I answered your question in another thread. Please see hat. I have a degree in finance too (well about 2 more exams to go) and currently level 1 CFA, working at an investment bank assisting PE firms (do not deal in public markets). So I do have some familiarity with the subject matter.
March 22nd, 2010 at 06:33
1) Tranching: packaging bad loans into products is the whole point of creidit derivatives and is not misleading. That is why they securitize them in the first place.
2) Hedging: NOT hedging would involve the bank taking a prop position… and you don’t like that, right?
3) Chinese Wall: typically, the people “selling” (client traders) and the people making decisions to short/long certain products on the bank’s account are not allowed to communicate, and are often on different floors.
March 22nd, 2010 at 06:50
“Fraud is the Minister of Injustice” and it is my experience that opacity is the accomplice of fraud. Who has the most to hide these days?
Personally I think the Fed is buying across the yield curve to affect interest rates, and Treasury takes care of stocks and commodities through the Exchange Stabilization Fund, and friends in a few key banks, but who can say for sure, without the power of wiretap, audit, and subpoena?
March 22nd, 2010 at 07:24
You are so funny. Keep up the good work because with people like you on her side it only makes my point.
Keep up the good work, lol
March 22nd, 2010 at 07:51
“Theodore Roosevelt IV (born November 27, 1942), is a managing director in the senior client coverage group of Barclays…. Roosevelt is a member of the Council on Foreign Relations, the Economic Club of New York, the Foreign Policy Association and the Korea Society based in New York. Roosevelt is also a prominent conservationist and environmentalist.[1] He is married to Constance Lane Rogers (born 1942), and their son is Theodore Roosevelt V.”
wiki
March 22nd, 2010 at 08:17
Obama is as corrupt as the rest. Remember what the French did with their corrupt elite? Yep… that’s the solution.
March 22nd, 2010 at 09:15
As for the family, wasn’t there a TR IV in the Porc?
Harmless looking fellow–but so was TR, wasn’t he?
March 22nd, 2010 at 09:46
What parade of genocide, incompetence, and hypocrisy US history has been from the beginning–and for the most part still is.
March 22nd, 2010 at 10:11
The only significant question in regard to the Roosevelts is–which one was worse, TR or FDR, hahaha.
March 22nd, 2010 at 11:03
The Roosevets, HAHAHA.
Both warmongers, Fascists, and Imperialists.
Pass.
March 22nd, 2010 at 11:25
It has happened twice before in America, and both times a Roosevelt was in charge.
Where has that family been this last 70 years?
March 22nd, 2010 at 11:48
Ah, getting “laws” from eminently buyable legislatures and courts, dangerouslytalented?
Merci, mais pas de merci.
March 22nd, 2010 at 12:07
Same place they came from originally, before they were destroyed. The legislature and the courts.
March 22nd, 2010 at 12:55
Does the symbolic order enforce itself then? And in what space-time continuum, specifically, do you propose “to get some laws”?
March 22nd, 2010 at 13:00
Usury and unrestricted speculation rewards avarice and not industry.
Time to get some laws to bring them back into line, and investing in actual industry instead of pie in the sky dirivitives that benefit only themselves.
March 22nd, 2010 at 13:21
The European Protestants were also eager to univresalize usury, which they envied and wished to dispossess from the Jews.
Indeed, the US general purpose debt credit currency is an eminently Protestant–specifically Calvinist–conception.
Monotheism, monoculture, monopoly, monolingualism, monomonetarism, and mononucleosis.
March 22nd, 2010 at 13:42
Our leaders are tight with the bankers, unless we get away from this two-party system of government and the banking/corporate lobbying that assaults DC daily, nothing will change. Just look at the last dozen presidents and look who was their treasury secretary and other important financial positions within the administrations. It’s all private BANKERS! I don’t know when this all started, but it has to end now. If the Obama whitehouse teaches us one thing, it is that both parties have failed us.
March 22nd, 2010 at 13:55
Confucius say:No way in, no way out.
March 22nd, 2010 at 14:00
Careful trying to reach them, those guys build forts
March 22nd, 2010 at 14:24
Relevancy?
March 22nd, 2010 at 15:15
Obama is a douche…The only change we have is a new face in the White House otherwise it’s the same bullshit!
March 22nd, 2010 at 15:41
Have you ever read Goethe’s Faust, AntiV?
March 22nd, 2010 at 16:24
You’re still not being funny.
March 22nd, 2010 at 17:03
It’s not a joke, TheAntivV.
Sweet dreams.
Trackbacks - Pingbacks (0)
Leave a Reply