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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (16468)	3/23/2009 10:13:19 AM
From: Cactus Jack	1 Recommendation Respond to of 50206

"Greenspan's Bubbles" by Bill Fleckenstein makes the same case against him using Greenie's own words. Very compelling read. jpg

To: Crimson Ghost who wrote (16468)	3/23/2009 10:33:56 AM
From: SliderOnTheBlack	11 Recommendations Read Replies (1) \| Respond to of 50206

It's a Derivatives & Leverage Crisis - period. Thanks Crimson, Vet and others, excellent articles by Chicago's Stephen Lendman, and the Rolling Stone. You can read more of Lendman's work here: sjlendman.blogspot.com Catherine Austin Fitts has been exposing the looting and the controlled demolition for quite some time... Here's a link to her site: Solari.com Check out her archive articles, she's been beating the drum of truth for years: solari.com And how about that Rolling Stone article that did a better job of tying it all together than Barrons, the WSJ, or the NY Times... rollingstone.com America needs to wake up to the truth, that this crisis was not a problem created by subprime mortgage loans, or people who bought too many flat screens & X-Boxes on their credit cards. That's a lie. While excesses did exist, those are problems that would lead to a garden variety recession. But, this is no garden variety recession. American consumers did not the cause of the breakdown of the entire global financial system. Hyper leveraged bets on derivatives did. Leveraged derivatives bets, in which the Banksters used lobbyists (legalized bribery) to re-write the laws that allowed them to avoid regulation, and to leverage up to unconscionable levels, and then suck out hundreds of billions of dollars in non-existant digital profits. Those digital profits weren't real. They NEVER existed. And now the banksters after sucking out hundreds of billions of dollars in ill-gotten gains from egregious salaries, and bonuses... can't come up with the cash to cover the losses on their Enron accounting ponzi-scheme! That's what caused the collapse of the global financial system. And now they and Congress have the gall to look you in the face and say -- it's your fault, and that you are going to have to suffer some pain, so the Banksters can now recapitalize, and walk in and snatch up assets at pennies on the dollar. 95% of all mortgages in America are just fine. And if everyone in America defaulted on their credit card balances tomorrow... it would be a drop in the bucket compared to JP Morgan's derivatives exposure. JP Morgan has something like 9 x AIG's derivatives exposure, yet no one in Washington, or in the financial press will talk about the 800 Lbs. Derivatives Gorilla in the room? Now why do you suppose that is? SOTB PS: Did you call your Congressman & Senators and demand Dodd's resignation? Tell them that they are either part of the problem, or part of the solution, and that there is no middle ground. It's Dodd, or them - come the next election. senate.gov congress.org nypost.com rollingstone.com