Citi Rescue: One Of The Worst Mistakes In History & May Collapse Financial System
- Thread starter ByLoSellHi
- Start date
If I were C, I'd be funding the absolute worst #@^% loans and taking the biggest risks I could. If it pays off, I'd be a hero and rake in a fortune in bonus. If it fails, the taxpayer would bail me out. It's a no lose situation.
OK, so that's an extreme example. But you can bet your bottom dollar that from now on, people advocating a risky structure will bring up bailouts to support their case.
OK, so that's an extreme example. But you can bet your bottom dollar that from now on, people advocating a risky structure will bring up bailouts to support their case.
Actually, many very smart & independent thinkers have been forecasting these actions for over a decade. The writing has been on the wall for a while, you just have to know where to look.
Once USA really starts deteriorating, you will see a transition from the US government doing this to a global government entity doing the same.
Seems Banks/Bankers are in an elite class by themselves - they are given money with the least conditions attached and no explicit changes demanded in their management or behavior.
Contrast that with the auto industry.
Also, they are being allowed to buy up other banks with the bailout money, because the "too big to fail" issue that Citi has now is apparently not a concern.
Contrast that with the auto industry.
Also, they are being allowed to buy up other banks with the bailout money, because the "too big to fail" issue that Citi has now is apparently not a concern.
The Great Ponzi scheme is coming to an end. Fiat money based on IOUs and controlled by central bankers. The rats are grabbing life preservers for themselves, and letting everyone else drown. Its so bad and progressing downward so rapidly that they don't even care about preserving the illusion of 'democracy'. (Its easy to do. Govt officials - many who were elected - recently failed a test on U.S. history, economics, & civics). They are authorizing bail outs on the citizens backs even though the vast majority disapprove of them. They granted the Treas Sec dictorial power in the economy.
They know its dead. The sub-prime debacle, auto company problems, and bailouts are only symptoms of the underlying unresolvable problem. Maybe the newly elected slick flim flam guy will use enough smooth talk to delay things a little before the great mass of t.v. addled wage/debt slaves start to have an inkling of the new reality. Welcome to The Brave New World. - -
They know its dead. The sub-prime debacle, auto company problems, and bailouts are only symptoms of the underlying unresolvable problem. Maybe the newly elected slick flim flam guy will use enough smooth talk to delay things a little before the great mass of t.v. addled wage/debt slaves start to have an inkling of the new reality. Welcome to The Brave New World. - -
Time for structural change by the Real Americans....
The Real Americans are the ones that refuse to work for someone and had rather taker the risk and provide some jobs to others themselves....
This is what built America.
And then legal largesse and individuals educated way beyond their intelligence were given the podium.....by fault of an election by advertising model....
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The current system has to change....
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It would actually be better to start new banks with new individuals....with a new working model....that works well in conjunction with a new world wide stock exchange....
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One could couple a few BATS systems world wide to provide interest free capital for boiler plate entrants.......This would be a Real Stock market...not to be gamed by the GS's of the world.....nor the current SEC/Corporate revolving door.....
The new banks would be local...and loan local....
The new government...township tax collection....10% consumption tax only....All other taxes removed....and projects are democratically decided per township via internet...
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Let the new games begin.....
Hey....it's coming anyway by default....
The Real Americans are the ones that refuse to work for someone and had rather taker the risk and provide some jobs to others themselves....
This is what built America.
And then legal largesse and individuals educated way beyond their intelligence were given the podium.....by fault of an election by advertising model....
................................................................................
The current system has to change....
..............................................................................
It would actually be better to start new banks with new individuals....with a new working model....that works well in conjunction with a new world wide stock exchange....
................................................................................
One could couple a few BATS systems world wide to provide interest free capital for boiler plate entrants.......This would be a Real Stock market...not to be gamed by the GS's of the world.....nor the current SEC/Corporate revolving door.....
The new banks would be local...and loan local....
The new government...township tax collection....10% consumption tax only....All other taxes removed....and projects are democratically decided per township via internet...
...............................................................................
Let the new games begin.....
Hey....it's coming anyway by default....
"unable to price asset" = THEY'RE FUCKING WORTHLESS
since when is a maker of a product completely absolved of a failure to pursuade free people that it is worth buying?
what if I made a dvd player that nobody could understand how to use, and therefore nobody bought?
what would it's 'real value' be?
IT WOULD BE FUCKING ZERO, THE PRICE THAT PEOPLE WOULD PAY
and that's assuming that these 'assets' werent underwater, which i assume they are. but even if they werent, if you created a financial asset that nobody could asses the value, WHO'S FUCKING FAULT IS THAT? NOT THE TAXPAYERS!!!!!
since when is a maker of a product completely absolved of a failure to pursuade free people that it is worth buying?
what if I made a dvd player that nobody could understand how to use, and therefore nobody bought?
what would it's 'real value' be?
IT WOULD BE FUCKING ZERO, THE PRICE THAT PEOPLE WOULD PAY
and that's assuming that these 'assets' werent underwater, which i assume they are. but even if they werent, if you created a financial asset that nobody could asses the value, WHO'S FUCKING FAULT IS THAT? NOT THE TAXPAYERS!!!!!
