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Topic: Fixing our mess (Read 188 times) previous topic - next topic

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  • edthelorax
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Re: Fixing our mess
Reply #15
For Entertainment Purposes Only.

Re: Fixing our mess
Reply #16
I'll see your bailout and raise you one.
https://www.zerohedge.com/markets/confirmed-fed-bailed-out-hedge-funds-facing-basis-trade-disaster

Good article, thanks for linking.

The tax payer is being fleeced again by a deceitful, actually lying, fed. This repo fiasco is only helping large leveraged to the hilt big banks and hedge funds by giving them a market, fake as it is, to unload losing wildly leveraged positions; they should have to face their margin call like an individual investor. It is also another kick at the can as it is delaying the day of reckoning, but that day is coming and unfortunately it has been delayed so long now that the consequences are going to be severe. The longer the delay no matter the mechanics for achieving it, the worse it is going to be. In some respects this is a good thing as it will force the boomer generation to pay for some of the me first and only attitude and remove some of the burden from our grandchildren as debt defaults reduced the totals.

The bad part of this is it can be traced back to the gold standard being removed which enabled money printing without discipline,  Glass Steagall repeal eliminating the separation of conventional deposit and loan banking from investment banking, and in 2008, allowing Goldman Sacks access to the Fed discount window that was essentially allowing the camel's nose inside the tent. All of this flies in the face of capitalism as capitalism requires risk takers to be responsible for their risks but in turn are keep the reward for their success. What we have now is reward for excessive risk kept by the risk takers and responsibility unloaded on tax payers; it is so wrong and congress and executive branch are fiddling while Rome burns.