Originally Posted by daven
heh... yeah... well they have the "too big too fail" thing goin for them. so they probably just tried to shovel as much as they could as fast as they could before the inevitable bail outs.
it's an insurance fraud scheme that went really really bad. i think there are career criminals in insurance fraud who'd look at these banksters and mutter, "what the hell were you thinking?! you know they don't even have that much money in the first place! you never commit fraud on an un payable sum! the whole point is to get paid!"
sounds like ron paul. honestly it probably doesn't matter if it is a private corporation, such as the fed, that is controlling the financial system or whether it is the government controlling the system, the same potential for corruption is there.
i'm not a fan of government intervention or price fixing. i'm an austrian - along the lines of hayek, mises, rothbard - at heart when it comes to economics. in my world, those idiots would've fallen on their own swords, no one would've bailed them out, and the market forces would do their job in terms of determining what price best fits (hint, it always goes lower, which benefits savers). but that's a debate for another thread in another topic. i was in brazil for a while back in 2007, and even after government instituted controls, rampant us exported inflation was raising their prices, on some products by about 20% per day. i remember going into a supermarket to get soy milk three days in a row. one day it was 1.10 reals. next, 1.25 reals. and then after that 1.5 reals. that was ridiculous.
me too, brotha, me too. i am trying not to dwell on how bad i want this to happen. i get depressed sometimes.
we're on the cusp of the biggest financial collapse of all time. it's just a matter of getting out of the shadow of the corrupt giant, finding a hill nearby, getting a bag of popcorn and enjoying the show. the asian gambit and fork just makes the show even more entertaining. once that sucka falls, dust yourself off, and have a big partay for a wonderful, wonderful future. y'all have no idea how much i'm looking forward to 2012.
all da best,
da asian brutha
thanks for your insight.
"When you look into the eyes of another, any other, and you see your own soul looking back at you, then you will know that you have reached another level of consciousness." -Brian Weiss