Too true. The financial sector has been out of control for so long that attempting to enforce sound fiscal policy will tank it. “Too Big To Regulate”, I suppose. Best to let them continue to run wild, and just hope your tit doesn’t get caught in the wringer when it collapses again (and again, and again).
al Qaeda in America:
"We will continue to fund Sharia, IAG, and terrorists
with YOUR money. We own YOUR children, dhimmis."
You have more raw nerve than I do.
I saw that earlier & didn’t dare post it, fearing I’d be a “carrier.” Carrier of the ulcer I got reading it, I’m afraid.
I hope that a President Palin-type puts the banks on notice, once the election is over:
“If you are Too Big To Fail, you are too big to exist. Period. You’ll either break yourself up into bite-sized pieces or I’ll have the courts do it for you. Got it? Did I already mention that not ONE BLOODY DIME of taxpayer dollars will be available to bail you out of your gambling? I’ll veto any bill that attempts to do so, and you won’t be able to override it.”
Yep
While this is certainly a technical subject, this article has to be some of the most poorly written composition I’ve seen in a while. His first paragraph has 459 words, which I think only Victor Hugo (Les Misérables) could pull off in a coherent manner.
Yes, it’s loaded to the brim with content, but in such an incoherent form as to be almost unreadable. Which is a pity, because I can tell he has a bunch of points to make.
The Bigger the Bank, the Worse it Is.
I saw this article yesterday and immediately
recognized the Horror of it's import
When this goes, it will be Hugh!
Uh oh.
I caught a show on CNBC the other day. It was focused on currency trading. The panel would talk about what trade they would make, and then talk about the cost of the trades.
In pure dollars, if you paid full boat for the trades they would return 1-2%. But, because of the leverage of margins, they would make between 115-200% on these trades.
Of course you have to start with tons of cash to get the margin, but this is why the big trades just get bigger and bigger.
It isn’t legalized theft, but it IS legalized gambling.