Peter interviews Chris a.k.a. "Captain Midnight" (Occupy Wall Street anti-Fed, pro-free market, pro-Austrian Economics protester). Subscribe now at SchiffRadio.com.
banks turned into hedge funds, holding and leveraging bad debt is the problem, Selling bad debt as good AAA investments is even worse, and then betting that after you sell them they will be worthless is criminal. However evil this may be nothing will happen to the guilty because they own the polititians. This is what has happened to America and the world. . How do you boycott a corp, like goldman sachs if they produce nothing? Military Ind complex? Fire all the leaders? You tell me?
@desertgreek I read it in the hard copy of either Forbes or the Financial Times, I can't remember which. The nearest thing to an internet link I could find was this watch?v=DtVU4adHksU at 9:00. (Technically it's not for me to prove the negative, though. Evidence for the positive claim that repeal of G-S got us into trouble is required.)
The problem is that financial institiutions are able to do what they want without the risk of prosecution. How can a corporations such as Goldman exist, they take bad debt cut it into pieces and leverage it then they sell it and then bet against it with AIG. They meddle all over the world, Greece? Yes Greece, they got them into the eurozone, hey they bought what? Credit default swaps? These companies make nothing, but money by explotation of resources.
21:00 RETARD ALERT - No banks that were freed by the repeal of Glass-Steagall got into serious trouble. Yes, that's right, after Glass-Steagall was repealed, none of the new "Glass-Steagall banks" got into trouble and needed bailing out. FFS ppl need to do their fact checking.
banks turned into hedge funds, holding and leveraging bad debt is the problem, Selling bad debt as good AAA investments is even worse, and then betting that after you sell them they will be worthless is criminal. However evil this may be nothing will happen to the guilty because they own the polititians. This is what has happened to America and the world. . How do you boycott a corp, like goldman sachs if they produce nothing? Military Ind complex? Fire all the leaders? You tell me?
desertgreek 4 months ago
@desertgreek I read it in the hard copy of either Forbes or the Financial Times, I can't remember which. The nearest thing to an internet link I could find was this watch?v=DtVU4adHksU at 9:00. (Technically it's not for me to prove the negative, though. Evidence for the positive claim that repeal of G-S got us into trouble is required.)
richardcadbury 4 months ago
The problem is that financial institiutions are able to do what they want without the risk of prosecution. How can a corporations such as Goldman exist, they take bad debt cut it into pieces and leverage it then they sell it and then bet against it with AIG. They meddle all over the world, Greece? Yes Greece, they got them into the eurozone, hey they bought what? Credit default swaps? These companies make nothing, but money by explotation of resources.
desertgreek 4 months ago
@richardcadbury Which banks are you referring too exactly and where are you getting your information from, thanks
desertgreek 4 months ago
cain would be slave to the same corp masters as obama has
ownerowner100 4 months ago
cain is a ex FED head and I dont trust him
ownerowner100 4 months ago
LOL. 35:20 Obama's next slogan: "I made the economy so bad, that is gonna encourage new business".
MrJustice01 4 months ago
21:00 RETARD ALERT - No banks that were freed by the repeal of Glass-Steagall got into serious trouble. Yes, that's right, after Glass-Steagall was repealed, none of the new "Glass-Steagall banks" got into trouble and needed bailing out. FFS ppl need to do their fact checking.
richardcadbury 4 months ago
Thanks for uploading!
titan13131 4 months ago