Wall Street "Socialism", the new moral hazard

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Uploaded by on Sep 17, 2008

There is a huge "moral hazard" problem here, says Nouriel Roubini, co-founder & chairman of RGE Monitor, where Wall Street firms have privatized their profits and socialized their losses.

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  • Truth!

  • The only banks that will definately survive the crash are piggy banks [little ones]that didnt build their houses out of northern rock

  • Better than pulling your money out of stocks and your bank and putting it in your mattress is pulling it out and BUY GOLD now. Prices will rise but the price of gold will rise as well while all other assets will fall and prices will rise as the U.S. dollar collapses.

  • "The Glass-Steagall Act of 1933 established the famous Federal Deposit Insurance Company (FDIC), and regulated the banking industry. Other provisions which prohibit a bank holding company from owning other financial companies were repealed in 1999 by the Gramm-Leach-Bliley Act signed by Bill Clinton."

    The CFR agents work from one government to the next, to continuously dismantle America. You may want to consider transferring funds from your bank, and putting them in a sock or mattress account.

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