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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (113236)7/23/2010 2:53:42 AM
From: Haim R. Branisteanu2 Recommendations  Read Replies (2) of 116555
 
My opinion is strongly tilted toward the US banks and their minnows the hedge funds run by ex- Wall-Streeters IMHO they are all scum. (not that the Citi of London or Paris or Frankfurt is populated with more noble people – but at least EU governments mostly their Treasury were not so deeply penetrated by the scum of WS and does not have the same mentality of pillage cheating and stealing)

As to the EU true that they have high leverage but in most cases on "covered bonds" representing mortgages and other similar loans. Some banks enable Eastern Europe to take out loans in foreign currencies which should have been a NONO, but the INTENTIONAL acts of depriving savers of their saving if with Structured Saving programs, CDO's SIV's and plethora of other leveraged products on inherently leveraged mortgages or other debt obligation where dreamed up in the US with a sole purpose to pillage more money form the unaware.

At issue is the intend in proving negligence or a criminal intend (act) and as the GS and Fabric Toure settlement with the SEC indicate, the US Banks engaged in criminal intended activity to reap more fees and generate more profits for their prefered client by shyponing money from a German State Bank to their pockets, which in my opinion constitute a “casus belli” and is a crime in international law

The excuse that some treasurer of a small town in Norway or France etc., for example is a sophisticated investor, "holds no water" in my view of right or wrong - honest people think the people are inherently honest and act upon - unfortunate people that are scum pretending to be honest is difficult to detect (see my other posts)
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