"Derivatives" and our economic demise...
Original post made by Obama Nation, Downtown, on Mar 14, 2010
UNREGULATED DERIVITIVES, TRUTH be TOLD are the demise of this economy!
"Posted by a reader, a resident of the Another Pleasanton neighborhood neighborhood, 7 hours ago
"We need to look at the bigger picture.
The bigger picture is unregulated derivatives trading on Wall Street. That's what got us into this mess. We need to regulate that or the rest won't matter"
That my friend IS the KEY! REGULATION and OVERSIGHT or WE as a Country will parish! NO ONE here can argue this with merit, I GUARANTEE that!
The Fed knew EXACTLY what was going on as FHA, Fannie and Freddie the Fed and were in many cases backing these class F assets that were commingled in with good and better assets, bringing those assets DOWN with the ship! My Wall street People and I KNEW FLAT out what was going on the entire time and the outcome of the recession is evidence like clockwork in spreadsheets analysed two years ago and is based upon class of DERIVITIVE BASED assets. HEDGE BETTING! Gambling when the LOSSEWS were predetermined BASED upon the reality that these assets were BOGUS and would NOT perform long term.
A BIG Scam in Fact! Cold hard and most calculated scam and ZERO oversight what so ever, in FACT the Bush Admin and the FED were WELL AWARE of the repercussions way back when!~ Keep Americans FAT and Happy while we go invade a few Countries. Happy people don't bitch, plain and simple!