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Old 12-16-2009, 05:13 AM
 
12,869 posts, read 13,730,818 times
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Dylan Ratigan Reams Ed Perlmutter - The Market Ticker

this is an excellent video and i wish that every american could watch it. ratigan should run for office because he certainly gets it!
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Old 12-16-2009, 07:20 AM
 
12,869 posts, read 13,730,818 times
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why did congress allow the following loopholes?:

foreign exchange exemptions

end-user exemptions

"balance sheet risk" exemptions

swaps traded on alternative exchange exemptions
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Old 12-16-2009, 08:36 PM
 
Location: Texas
5,873 posts, read 7,333,875 times
Reputation: 2967
Quote:
Originally Posted by floridasandy View Post
why did congress allow the following loopholes?:

foreign exchange exemptions

end-user exemptions

"balance sheet risk" exemptions

swaps traded on alternative exchange exemptions
Who do you think wrote those loopholes? The Congress? The loopholes were basically written up and hand delivered to the member introducing and then put on the floor. Congress can't even find their own offices, much less produce these doosies, and understand what they really are.
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Old 12-19-2009, 10:07 AM
 
Location: Ocean Shores, WA
5,080 posts, read 13,645,688 times
Reputation: 10733
There is no way to keep the foxes out of the henhouse when they built it, own it, and pay to run it, and the hens not only let them do it, they support and encourage them.
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Old 12-21-2009, 10:57 PM
 
4,724 posts, read 3,781,562 times
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The revolving door in DC is nothing new, ever since the revolutionary war we've seen the effects of business and especially the financial business exerting it's power over the government. I've pointed out to many people that the original laws were written for the expedient establishment of a new ruling class, this new "mercantile class" was angling for exclusive status apart from those in the common class. If you didn't have land you couldn't vote, if you were a woman you couldn't vote, freedom? They had slaves, why would they care about freedom, other than their own? We have a corporatocracy not a democracy, and as such I don't think it will yield to any force that dares to reconcile it's power with the demands of "the people". The fact that we now have a bunch of Goldman boys in the white house should be proof enough of who rules America.
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Old 12-22-2009, 07:12 AM
 
12,869 posts, read 13,730,818 times
Reputation: 4453
The problems come during times of economic difficulty - as have occurred recently. Then there is only so much that even a banker can take in terms of opprobrium and general bad press. A determination is made. And so do they - valiant men in good gray suits! - venture out onto the hustings and compare their enterprises to God's.

There really is no defending what Goldman Sachs does, which is to operate at the center of American mercantilism, greasing the wheels of its manifold and stupendously profitable enterprises by backing voluminous laws and burnishing government relationships. Goldman almost constantly seems to have one of its senior people at the forefront of the American Treasury, and in other high government places as well.

Is American enterprise ineffably better off because of Goldman's services? Goldman is an intermediary. It puts together buyers, sellers and partners in business dealings. Goldman's main profit comes when it benefits from one of the incredible booms that central banks seem to engineer at least once a decade, and for a good portion of each decade (present decade perhaps excluded).

Goldman's fees go up commensurately during these periods. It is therefore a main beneficiary of the ruin that central banking visits on much of the Western world on a regular basis. Its business becomes even more profitable when the economy heats up as a result of excessive fiat money printing. Subsequently its fees, including trading margins, go down during a bust. It is to Goldman's advantage to encourage the kind of central banking difficulties that the world currently suffers from because during better times Goldman's profits are huge. (rightsidenews).

it is also to this government's benefit due to their connection to wall street to encourage turmoil. why do you think that americans are getting pummeled with cap and trade legislation, illegal immigration "reform", health insurance mandatory taxation, social service expansion, war escalation, and bailouts all at the same time?
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