New Report follows the money trail behind deregulation-2/2

[cycimian]

I seen Waxman on the Senate hearings tearing this AIG Board Members a new one. Then a week later AIG showed where money was actualy going. One Consultant was getting millions just for being a consultant seldom used but on retainer. Whats another Billion or Trillion. We wont be alive to seeing it payed. IM supposing that WW3 Will elimate the national dept as a new World Wide system post event will be in charge.

From Corruption a word to actualy seeing it blatent thrown into our faces is so sad.

[cheddyrod]

What exactly is a financial derivative? Is it legalized betting for the bankers and financial institutions?

[callieland]

in his cabinet

[callieland]

the sad part is that the average obama supporter doesnt understand any of this, so they wont know to be angry that obama has chosen a man like summers to be in his cabinet. obama has done just a very few token measures since he took office and that seems to be cause for rejoicing among his loyal followers. i'd be happier if he'd end the policy of rendition, not leave 50,000 soldiers permanently in iraq, send tons more soldiers to afghanistan, pick a fight with pakistan, and fire the lobbyists

[sugarpuddin88]

The FED, acting as bartender, gives out free booze to the bankers

The banks in turn have created many fake instruments like derivatives

One quadrillion dollars is the sum of outstanding fake derivatives (fake money pledged by the wealthy banks to buy real things) 1,000,000,000,000,000 on the market, (e.g. a bank with only one real dollar can legally say it owns several billions of real dollars) The total combined assets of the world is only actually a very small fraction of that sum!

[sugarpuddin88]

The Bail Out does not help Main Street; it is welfare for Wall Street!

Small businesses cant get loans; kids cant get loans to go to college; home owners cant get loans; but the elite of Wall Street get to keep their billions of dollars in Christmas bonuses last year!

And these banks are using the money to give more bonuses to their executives; buying more banks; and, extending gratuitous benefits & pedicures to the corporate aristocracy

Bankruptcy court would mean returning their bonuses

[callieland]

i agree with sugarpuddin 100%