Seven Years Later, Wall Street Hasn't Learned Anything

[Domingo Halliburton]

Enlighten us Domingo Halliburton ...



-2008 TARP = Troubled Asset Relief Program, which was a nice way for saying derivatives. In other words all those trillions went to bail the banks out. It was a nice gesture, under pressure, to keep things afloat. Although if Debra's Bakery franchiese goes out of business, the government will not bail out her cookie dough (don't ask me how) enterprise


-2014 The FDIC insures derivatives in that Omnibus bill, in other words, mandating/legalizing that the government bail the banks out for their derivatives on-goings..

http://www.forbes.com/sites/robertl...n-on-trading-derivatives-backed-by-uncle-sam/

DEC 13, 2014 @ 11:35 AM

"Wall Street banks like Citigroup and JP Morgan Chase have flexed the power of their influence to pressure Congress and the White House into a key change in the law that will allow the trading of risky financial derivatives in bank operations that are insured by the Federal Deposit Insurance Corp. This means the nation’s largest banks used the deadline for passing the Omnibus spending bill as pressure to reverse a key section of the Dodd-Frank bill of 2010 that was meant to prohibit a federal government bailout of swaps entities."



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Enlighten us Domingo Halliburton ...



-2008 TARP = Troubled Asset Relief Program, which was a nice way for saying derivatives. In other words all those trillions went to bail the banks out. It was a nice gesture, under pressure, to keep things afloat. Although if Debra's Bakery franchiese goes out of business, the government will not bail out her cookie dough (don't ask me how) enterprise


-2014 The FDIC insures derivatives in that Omnibus bill, in other words, mandating/legalizing that the government bail the banks out for their derivatives on-goings..

http://www.forbes.com/sites/robertl...n-on-trading-derivatives-backed-by-uncle-sam/

DEC 13, 2014 @ 11:35 AM

"Wall Street banks like Citigroup and JP Morgan Chase have flexed the power of their influence to pressure Congress and the White House into a key change in the law that will allow the trading of risky financial derivatives in bank operations that are insured by the Federal Deposit Insurance Corp. This means the nation’s largest banks used the deadline for passing the Omnibus spending bill as pressure to reverse a key section of the Dodd-Frank bill of 2010 that was meant to prohibit a federal government bailout of swaps entities."

I tried to explain the difference in another thread but no one got it.

I'll do it again for stupid reasons

again it would bore you tears. Look up a stock option if you're curious.

my point was you don't know what "notional value" is and neither does the author of that article. The worst part is he probably does and is using it on people like you to exploit your fears.

 

[Camile.Bidan]

They had the biggest opportunity to learn the harshest lesson in history in 2008. The big banks fukked around and they were going to get burned to the ground.

...but the progressives felt it was a better opportunity to showcase Keynesian economics and socialism.

What happened instead? Billions in liquidity funneled to Wall Street who are now playing recklessly by giving untold billions to vapor-ware Web 2.0 start-ups and loss making biotech firms.

Wall Street did learn a lesson in 2008 -- the so-called progressives will spend trillions saving their asses if they make mistakes, and will create a economic environment were the middle-class faces the success and failure of capitalism while the super rich drink at the tit of tax payers' purse with the ultimate safety net.

 

[Domingo Halliburton]

They had the biggest opportunity to learn the harshest lesson in history in 2008. The big banks fukked around and they were going burned to the ground.

...but the progressives felt it was a better opportunity to showcase Keynesian economics and socialism.

What happened instead? Billions in liquidity funneled to Wall Street who are playing recklessly by giving untold billions to vapor-ware Web 2.0 start-ups and loss making biotech firms.

Wall Street did learn lesson in 2008 -- the so-called progressives will spend trillions saving their asses if they make mistakes, and will create a economic environment were the middle-class faces the success and failure of capitalism while the super rich drink at the tit of tax payers' purse with the ultimate safety net.

I said this in some other thread but if Americans want to keep living in houses and cars they can't afford then Wall Street is necessary

 

[Camile.Bidan]

I said this in some other thread but if Americans want to keep living in houses and cars they can't afford then Wall Street is necessary

Absolutely true.

 

[GunRanger]

I said this in some other thread but if Americans want to keep living in houses and cars they can't afford then Wall Street is necessary

 

[Domingo Halliburton]

haha he does say that doesn't he...somebody says that "music stops" line as well (and by that I mean a real person).