$592 Trillion debts worldwide, thanks "Capitalist"

[Horsepicker]

On Bushes watch, Derivatives..,


Yeah, let Corporations and Capitalist do WHATEVER they want, when they want, right Rush-meisters?




http://www.youtube.com/watch?v=qNILXS7saVo&NR=1





Horsepicker

[JustRalph]

is there a socialist board somewhere missing a nut?

[ArlJim78]

yeah if we could just get rid of corporations everything would be fine.
btw, how did corporations cause governments to go into debt?

[Horsepicker]

is there a socialist board somewhere missing a nut?



You are either purposefully deaf or willfully stupid.

When the dollar turns into less than the peso and bread lines form for miles, make sure you don't apply.

And when and if your retirement nest egg or savings value go the way of the mortgage crisis, like minus 50% and more, we'll see how your arrogance holds up and how long that smug chip stays on your shoulder, Gump.


Horsepicker

[PaceAdvantage]

You are either purposefully deaf or willfully stupid.

When the dollar turns into less than the peso and bread lines form for miles, make sure you don't apply.

And when and if your retirement nest egg or savings value go the way of the mortgage crisis, like minus 50% and more, we'll see how your arrogance holds up and how long that smug chip stays on your shoulder, Gump.


HorsepickerI'll be blaming Obama if what you say happens under his watch. That's how you play the game, is it not?

And make no mistake. It is a game you are playing.

[delayjf]

On Bushes watch, Derivatives..,

Derivatives have been going on long before Bush - you might want to reconsider the socialist policies (subprime market) that led to the current economic situation.

[DJofSD]

If I recall correctly, early in Bush's first term, he tried to coral the growth of derivatives. He got no place, thanks to Congress.

[boxcar]

On Bushes watch, Derivatives..,


Yeah, let Corporations and Capitalist do WHATEVER they want, when they want, right Rush-meisters?




http://www.youtube.com/watch?v=qNILXS7saVo&NR=1





Horsepicker

Btw, HP, would any of those "Capitalist" (missing an "s", are you?) of which you complain include any wealthy politicians in D.C.?

Boxcar

[Mike at A+]

Did I miss the memo saying that people were FORCED to buy derivatives? I remember from my IT consulting days at Morgan Stanley in the mid to late 90's when derivatives were hot, many very smart people had a difficult time even understanding what a derivative actually is. Given that, why would anyone buy something they don't understand? :bang:

[slewis]

To DJOFSD:


Your post is as stupid as trying to blame Bush for the crash that occured.

[slewis]

Derivatives have been going on long before Bush - you might want to reconsider the socialist policies (subprime market) that led to the current economic situation.



NO they have not..... But they were not Bush's fault..(or anyone else's).

[DJofSD]

To DJOFSD:


Your post is as stupid as trying to blame Bush for the crash that occured.
What's the matter? Get up on the wrong side of the bed?

Just pointing out a little history. If you want to imply placing of blame or avoiding the facts, go right ahead.

[slewis]

Everyone needs to get some simple facts straight regarding derivatives:

It is not the product that is evil....It is those behind trading, or betting on the product that can be evil.

Almost everyone has certainly seen and used a Gas canister for your gas outdoor barbecue. When used properly, it's certainly safe and will surely never blow up or catch fire. It's only when used improperly that danger can result.

This is what took place with AIG and derivatives.... Everyone should get that straight.

It was the CONSTANT push by banks and institutions NOT to be regulated, to be free to speculate limitlessly, to make enormous profits, that led to the disaster.

This is why we NEED a certain amount of Govt regulation...not only in the financial markets, but is many areas of our society.

This does not make on (or me) anti capitalist or socialist...like many have been crying on many threads....what it means is that we need to right the ship before proceeding onward.

[Tom]

If I recall correctly, early in Bush's first term, he tried to coral the growth of derivatives. He got no place, thanks to Congress.

Documented in a program on PPS that I have on VHS. CONGRESS (dems) blocked all attempt to reign in the derivatives. The whistle-blower on a near catastrophie was villanized and forced out. Much like the housing debacle with dems at the helm, steering into the rocks.

[Robert Goren]

Actually most these thing have been around for quite awhile. What changed in the late 90s and after the turn of the century was the computers became good enough for some "geniuses" to to develop models which allowed them to make what appeared to be profitable short term trades in them. This caused the volume in the unregulated markets in them to explode. Most of the models had flaws in them because they were base on data from low volume markets. The people trading in them were for the most part trading were trading with some else's money. When the models stopped working, the people whose money they were trading with lost most if not all of it. Those people were the big banks and hedge funds.

[GaryG]

is there a socialist board somewhere missing a nut?Yes, in the Boston area.

[slewis]

Documented in a program on PPS that I have on VHS. CONGRESS (dems) blocked all attempt to reign in the derivatives. The whistle-blower on a near catastrophie was villanized and forced out. Much like the housing debacle with dems at the helm, steering into the rocks.

Tom,

Without doing any research on the show, which I think I saw, I can virtually guarantee you that if Congress blocked any suggested regulation, it was done because of heavy lobbying in the banking industry....and that lobbying is VERY VERY bi partisan.

From the time I started in the industry in the 70's banks were pushing to become more like brokerage firms and brokerage firms more like banks....wanting the ability to "cross lines" for everyone's investment/banking dollar.

I believe the "whistle blower " was probably a lobbyist or executive of either the CBOE or other futures exchanges. They (those exchanges)were really not afraid of a meltdown, they lobbyed to protect their industries profits. Futures are regulated by margin requirements..... derivatives are self regulated by the perception of both parties ability to do business in a prudent manner and with the expectation that your counter party (ies) will make good on the contract (s).

If you were to block attempts by the banks do business as they see fit, then you too would be accused of "govt strangulation" (something banks were crying for many years before deregulation).
Are you a capitalist or not? Of course I know you are... as am I..and I say this sincerely.

But this is what's taking place today when many are screaming that this administration is "anti-business". Had Bush (or anyone) pushed through legislation limiting derivatives, they could be labeled "anti-business" as well.

The question is do we want Govt regulation in our lives or not and to what extent.

The answers, as you see in the example above are clear when one can play Monday morning quarterback... but when you cant, they are not.