Joseph Stiglitz: Bad Bank is 'Cash for Trash'

[909jtscofield]

Stiglitz is, as usual spot on. The more time goes by, the more evident this becomes.

[sysopkc]

If your so incensed about this, WHY are you arguing for policies that contribute and sustain the very problem your attacking!??! You CANT have it both ways! Stiglitz talks out of both sides of his mouth. Hahaha hard to manage? Try impossible to pay...its called FEDERAL INSOLVENCY.... Yeah security in SSI paid in what? The currency wont be worth the synthetic cloth its printed on.

[sysopkc]

I dislike Stiglitz because he plays politics far too often, and once again protects Govt. lines while attacking the finanical institutions. Its angering because he admits the failure, highlights the stupidity. Then blames a victim! Comon, dont be an asshole. Credit supply, yeah......and how are you going to lend it? At gunpoint? AGGGH these people.....

[AntiPsychopath]

AIG has just looted all the peoples money, and the people are now paying for AIGs bonuses and luxuries....instead of making sure that all the CEOs went to jail and had their properties liquidated, they socialize the failure so that simple people that minded their manners all their lives pay for it.....government is hijacked and owend

[davfritz]

MORONS! Time for a millitary coo!

[Limeisback2012]

The System is completely trashed.

[mdfaithful]

Rothschilds and Rockefellers are the members and the financial leverage of Jewish-American Masonic lodge central society Illuminati. They are printing money free and democratic America and they control the party system and the minds of millions of honest and ordinary people in the U.S.

[mdfaithful]

It's true and it is by the way, one way or another great show in the movie 2012 ...

America wake up! Evil Empire is you! And you will answer for it if I do nothing with yourself and with your crazy political elite! You are under kolpkom a Judeo-masons, and they control the U.S. Zombie Land

[smartfan2]

I LIKE WHAT THIS GUY IS SAYING!!!!

[sysopkc]

@smartfan2 Its nonsense, total fluff. Its truth mixed with total nonsense as its not fiscally realistic.

[sinwow33]

You are correct in saying the Rothchilds are a big player in policy but it goes way back and has been going on for over a century.

[offthahook08]

Thank you Rothchilds for the creation of CDOs in 1980. You have effectively destroyed the whole world's economy with one bill. Incredible!

[DifferentRussia]

What is CDOs?

[clat1]

@DifferentRussia

Collateralized debt obligations

[jak1428]

no. not stupidity. just (legalized) crime.

[FattKidd]

This crash, bailout, etc is entirely, 100% manufactured. It's being done to take the US down. this is NWO conspiracy being carried out by the anglo-dutch banking cartel. bankrupt the US, crash the dollar. chaos ensues, followed by the implementation of a totalitarian police state. Constitution shredded. north american union, asia-pacific union, central/south american union, european union, african union each with own regional currency which is tied to the others. one world gov't. the end.

[morelshaman]

You could be entirely right.

Alternatively - we have been living in a false economic system that was only bound to fail if rare cercumstances converged. Our economists & gov'ts hedged their bets on the bad situation NOT happening & here we are.

When there is more talk of a melding of gov'ts or a new currency or actual fascism beginning i will be more inclined to accept your position.

I would guess that it is easier to project conspiracies in the past than to actually propigate one forward.

[FattKidd]

well, remember you heard it here first! just kidding. serously, failure is built into the system, on purpose. think about it. money is debt. everytime a bank writes a loan at 9/1 leverage, $8 is created. but, that $ is deposited at another bank in the system. that bank can now loan out 8x$8, and on & on & on. but, here's the kicker: the $ to pay the interest on these loans is never created. i.e. not all of them can/will ever be paid back. thus, failure is built into the system. it's no accident.

[FWTRTW]

Thanks FattKidd for your comments and your realistic perspective.If one is aware and allows the powers of critical thinking to be used it becomes quite clear that the entire state of world affairs is based upon an obvious agenda,and it's not new.The current Depression has been engineered as was the last,and unless we stop participating in THEIR system,things will continue to worsen.

[FattKidd]

we will see a return to the barter system & local markets probably by the end of the year. I already know of folks starting to barter for goods services. this is the one sure way to keep the gov't & the bankers out of the loop. no interest, no taxes. use it whenever you can. i'm bartering with my dentist right now. she needs work done at her house, i need a crown. crown cost me/her $400, so i'll put in roughly 3 days work at her house. those with skills/trade we be ok. the rest will suffer.

[FkyGGGG]

Right ON Fatt!!

[LeGioNoFZioN]

well put, and scary

[ONQproductions]

Hello?!?! Is anybody listening???

[ubuibiok]

I am....and that number he was looking for was 100 Trillion and the current number is now at about 60 Trillion in Bad CDS still floating around out there.

[FattKidd]

exactly. what are the going to do about that? i'll tell you what they need to do, create an exchange/market for it, give everyone 60 days to decalare they're paper, pay fees/taxes/whatever it takes to set the thing up & run it, and anyone who can't or doesn't move their CDS paper into the market in 60 days loses out entirely. wiped off the books. chances are, if you can't declare your paper, it's bullshit anyway. hey, you took a gamble, it didn't pay off. you lose. end of story.

[ubuibiok]

Dont think that will work, why you ask, lol because J P Morgan is still offering them to Investors even as you read this....

Do you trust J P Morgan ?

It's the old Fool me twice game and as P.T. Barnum said, "There's a sucker born every second"

[FattKidd]

I didn't say it was likely, only said it would work to eliminate 90% of the junk swaps that are out there. Yeah, I doubt anything will be done about it. We'll probably just bail them out.

[ubuibiok]

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