Thursday, October 2, 2008
And the dirty secret of the Great Bail-out is that, –
The Ponzi Plus Plan
To paraphrase the late and great old war-horse of the senate, Everett Dirkson of Illinois (1896 - 1969), a trillion here, a trillion there, sooner or later you're talking about real money. Except in the case of the Great Bail-out of 2008, maybe it's more like... sooner or later your money is no longer real. What we're seeing in this fiasco, among other things, is a lesson in the diminishing returns of technology. This is a train wreck of investment vehicles so complex that they could only be created with the aid of computers. The result is that hardly anyone -- perhaps even nobody in or out of Wall Street -- really understands what they represent.
Posted by malct @ 04:10 PM (454 views)
3 thoughts on “And the dirty secret of the Great Bail-out is that, –”
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James says:
2. Only add articles from reputable sources (e.g. BBC, major newspapers, banks/building societies, government departments).
Campin says:
http://www.liveleak.com/view?i=096_1222744802
the great bailout or the great cull
planning4acrash says:
Of course they are understood. Dem markets are rigged! You traders actually trust your black box?! This is how the markets fell over 1trillion after the vote,only2 recover. Its all rigged for insider trading and central control, traders left in the dark.