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« A paradox | Main | Zapata George Redux »

October 15, 2009

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GaryA

As an outside observer it is fairly obvious to me, in the light of recent events, that the USA and to a lesser extent the UK, have undergone a financial coup d'état.
Look at the evidence, Wall street and the city of London are in charge not the politicians, correction big bankers become politicians; Secretary of Treasury (Geithner and Paulson)
They also convinced the key people in Washington that they, the bankers, the big bankers, the Wall Street bankers, who are really responsible for all of these problems should be saved. Not just their banks, but individually they and should be saved. Their jobs, their pensions, all their perks. It's an extraordinary swindle of huge historic significance.
In fact it is a worse situation than before the crisis the dozen banks in the US and UK are now reduced to four big ones with a lot more market power and more political power the big financial players are absolutely against any kind of sensible regulation. I predict they're going to win....
The endgame is unwinding and the big financial parasites are absolutely against any kind of sensible regulation.
It is some grand inditement of our prostituted media and the mechanism of our so called 'democracy' when they continue to wreck peoples lives and the planet with impunity.

A financial coup d'état is the only rational explanation..

A Computer Science student of yours...

Wow, those are some fancy words and thoughts. I suspect one needs to take a class on the finer arts of Economics to gain some semblance of understanding.

Denise

The article in Rolling stone about Naked Short Selling and the fantastic new movie out about stock market manipulation ("Stock Shock-the short selling of the American Dream----Amazon has the DVD) should get people to understand how this corruption works. Thanks for the great article and see "Stock shock" if you can.

George Mobus

GaryA,

And the survivors are now really "too big to fail" according to the conventional "wisdom", but, ironically, have become too big to bail out should they get into trouble.

We had a paper yesterday that suggests that there is no way out of this mess. Everyone is going to default. And my computer model (which I will be reporting more on soon) seems to provide an explanation as to why.

I would not be holding stocks in financial institutions just now (or ever) FWIW.

George

George Mobus

ACSSOY...,

I trust you are one of my students who is following your bliss and not in it for the money!

George Mobus

Denise,

Thanks for the tip.

George

ACSSOY

Indeed, that I am. I find your post to be very interesting and look forward to discussing these ideas with you. Thank you for expanding my intellectual framework!

George Mobus

Words that bring joy to a teacher's heart ACSSOY!

Forensic Accountants in NYC

Great post! Greed is one of the factors that keeps my position relevant. I am a forensic accountant, someone that investigates money crimes...fraud, embezzlement, etc. I don't agree that greed is good at all, its bad and its vindictive but as long as there is money in the world, there is going to be greed, don't you think?
[Moderator edit: commercial URL deleted]

digital options trading

Earning great money through a good job or while trading options is certainly not being greed. Everybody wishes to be wealthy.
[Moderator edit: Removed commercial URL]

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