Matt Tabbi's latest article
http://www.rollingstone.com/politics/st ... stle/print
Matt Taibbi offers a good counter-point to all the happy-talk we get from some people.
His criticism adds value and the financial elite should think about how it is for people who get drawn into a big game they don't comprehend.
Financial services for the working class should be reliable, not based on irrational levels of optimism. The offerings should be described in plain English, not marketing terminology.
Banks should have to have a firewall between their speculative holdings and the capital which is maintained for all account holders
Wall Street's Bailout Hustle
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skank-la
- Too Much Time on my Hands
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Wall Street's Bailout Hustle
Last edited by skank-la on 19th Feb, '10, 06:53, edited 1 time in total.
I try to take one day at a time but sometimes several days attack me at once!
Re: Wall Street's Bailout Hustle
God, that guy really hates Goldmans doesn't he. If the banks take advantage of Fed stupidity, who are the bad guys?
We are the TPF
Re: Wall Street's Bailout Hustle
Oh yeah....
http://blogs.forbes.com/streettalk/2010 ... ady-swaps/
http://blogs.forbes.com/streettalk/2010 ... ady-swaps/
Nice guys aren't they. Anything for their commissions...Goldman Sachs arranged swaps that effectively allowed Greece to borrow 1 billion euros without adding to its official public debt. While it arranged the swaps, Goldman also sought to buy insurance on Greek debt and engage in other trades to protect itself against the risk of a default on those swaps.
A conspiracy theory is just the truth not yet come to light
Re: Wall Street's Bailout Hustle
To be fair, if you are lending to the Greeks, getting insurance is sensible and reasonable.
We are the TPF