13 Bankers Co Author Simon Johnson
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"Democratically elected presidents" Ha Ha!
canaan1967 1 year ago
@drumsmetalheavy Gordon Brown needs to face the blame for that, not Goldman Sachs. 97% of hedge funds are registered in the British Protectorate Cayman Islands which by law exempts them for 100 years from having their accounts audited by foreign governments. Yet another govt. sanctioned haven for financial sharks from which Britain profits...
sosaybrothernathan 1 year ago
Does America need a derivatives market a market that brought us near a complete financial disaster? Hell no!! it's the removal of the glass steagall act that caused all these problems. Investment Bankers like Goldman Sachs devised these derivatives to make billions and billions of dollars for their own greed. We have to put and end to these speculators using this country and wallstreet as a casino, but sadly so far nothing has been done.
drumsmetalheavy 1 year ago
The IMF has a disgusting track record of destroying the economies of developing nations. If I were him, I wouldn't draw attention to my past role.
His statements are correct, but he fails to suggest WHY derivatives were created in the first place. Peter Warburton makes the posit that they were created to mop up excess liquidity in the financial system caused by excessive credit creation, as an attempt to avoid, or delay, the inevitable debasement of fiat currency.
sosaybrothernathan 1 year ago
subbed. Wish us all luck
1mealperday 1 year ago