There are no doubt many factors in play and foreign intervention is one of them.
But take away the events emanating from repeal of Glass-Steagall and the current mess would never have developed with such effect.
Foreign interventionism is a mere drop in the bucket of poison that was filled by greedy banks and their surrogate hedge funds.
Banks set up rogue filled wild west mindsets in hedge trading subsidiaries. For example, Bank of America Securities. Such subsidiaries were populated by nefarious gunslingers who convinced bank executives that they had to run their hedge funds in ruthless fashion because the market was ruthless.
Hence, we had the establishment of MERS; we had deeds of trust deposited into pools with no legal or legitimate beneficiaries: we had decoupling of notes from their security; we had false insurance cleverly labeled as credit default swaps so to evade insurance regulation and so much more. All of this behavior emanated from the permitting of rogue dealers in the markets linked to 100:1 leverage money coming from Investment Banks who obtained cheap money from the Federal Reserve, an agency with little to zero oversight. And all this behavior stemmed from repeal of G-S.
You should keep in mind that the Big Apple financial media is joined at the hip with the banksters and they put out garbage everyday to distract whoever is foolish enough to read their rot. They lay blame on Greek Debt, Italian Bonds and anything and everything else outside New York.
And the result is that not one bankster criminal has gone to prison. And this is for the simple reason that they are playing Russian Roulette with our Federal Government, and our Government is backing down.
Our government is backing down because the nature of the problem is not transparent and obfuscated. And the reason for this lack of transparency is because there has been no strident investigation to bring the facts to the public. Our Government will not investigate because bank failure could mean the US Government FDIC could be on tap for 50 to 75 trillion or more.
They, the banksters, are holding a gun to our head.
So go ahead and talk up foreign conspiracy, Soros evil genius and so forth. In so doing you will make the scum of Wall St., smile at your acceptance of membership into their useful idiots club.
Wow .... I enjoyed reading your post up until that snide comment. Do you even know how to debate w/o reverting to childish tactics like that?
Banks set up rogue filled wild west mindsets in hedge trading subsidiaries. For example, Bank of America Securities. Such subsidiaries were populated by nefarious gunslingers who convinced bank executives that they had to run their hedge funds in ruthless fashion because the market was ruthless.
Hence, we had the establishment of MERS; we had deeds of trust deposited into pools with no legal or legitimate beneficiaries: we had decoupling of notes from their security; we had false insurance cleverly labeled as credit default swaps so to evade insurance regulation and so much more. All of this behavior emanated from the permitting of rogue dealers in the markets linked to 100:1 leverage money coming from Investment Banks who obtained cheap money from the Federal Reserve, an agency with little to zero oversight. And all this behavior stemmed from repeal of G-S.
I agree 110%.