Hopping Mad
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Basically what happened is the banks invented a new form of insurance fraud where the money launders itself between 3 and 80 times and then the government buys it from you.
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...This still makes no fucking sense.
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@GarlicPudding : Be careful, that's a baited punch they want. They'll talk tough until you actually punch them then they'll run to their mommies, or the police, balling their eyes out.
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this explains everything!!!
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Why do the frog holders keep paying the frog securities instead of owning the frogs outright when they have paid back the cost of the frog? Smacks of usury to me.
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AIG was a cheap company, they didn't deserve a bail out.
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that was comedy!
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@investoradvocate Well put, in addition, those in charge of giving that AAA rating were supposed to be independent guv regulators, but turned out to to be insiders from AIG - Corps "regulating" themselves again. Of course, BRIBERY & CORRUPTION had nothing to do with it! "Fascism should rightly be called Corporatism b/c it is a MERGER of State & Corporate Powers" - B. Mussolini - father of modern Fascism. Welcome to the 4th Reich, kids! Do your duty for GovCorp- CONSUME, CONFORM & OBEY!
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Very clever. Good job!
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Who else wants to punch some AIG execs in the face?
GarlicPudding 1 year ago 14
the rabbits foot represents part of the "bullshit" promises made by financiers to insure and then assure people that the investors were buying "top quality" assets. First he touches the rabbits foot and pays davey (AIG) for credit default insurance. (exactly what AIG was selling)
Second rabbit foot rub added AAA credit rating to the frog backed securities which was another component to the real world scenarios that this is based upon. Very accurate.
Look up credit default swap for more.
investoradvocate 2 years ago 10