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Old 10-22-2009   #1
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Since boating season is mostly over, did anyone see Frontline the other night?

Pretty disturbing since Summers and Geithner are still involved in this mess.

The Warning | FRONTLINE | PBS Video

Brooksley Born saw this coming in 1998, but Greenspan and his croonies wouldn't listen. Although now, he admits that he was wrong.

Brooksley Born, the Cassandra of the Derivatives Crisis - washingtonpost.com

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Old 10-22-2009   #2
 
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Do not ever trust anyone with your money, especially if they are smarter than you. That is rule number one. Your lawnmower is ok.
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Old 10-23-2009   #3
 
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Do not ever trust anyone with your money, especially if they are smarter than you. That is rule number one. Your lawnmower is ok.
That is unfortunately very true. In today's world the depth of things that our politicians is so overwhelming that i doubt any one person could stay abreast of the issues; economy, foreign policy, global economy, military, public utilities, etc.... That is why we try to elect official to act in out interest.


Wierd thing about derivatives is they have been used for years in the commodities market (futures). Remember Dan Akroyd screaming PORK BELLIES!!!!. Once we began to uses derivatives for stocks, bonds, mortgage backed notes, etc.... things became convoluted. I think that this again proves that many government economist knew this was going to happen, but as history shows the small percentage of extremely wealthy people in this country will take care of each other at the expense of the remaining population. The Federal Reserve loves to lend money to banks and governments, a very profitable racket: produce money from thin air, and then lend it with interest......
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Old 10-23-2009   #4
 
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Didn't see that Frontline, though I'm surely it was very depressing.

The derivatives nightmare hasn't gone away. I truly wish the Congress had the collective cajones to repeal the Commodity Futures Modernization Act of 2000 as well as the Gramm-Leach-Bliley Act of 1999. These two pieces of repugnant legislation (signed by Clinton) set the stage for the Great Recession.
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Old 10-23-2009   #5
 
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Didn't see that Frontline, though I'm surely it was very depressing.

The derivatives nightmare hasn't gone away. I truly wish the Congress had the collective cajones to repeal the Commodity Futures Modernization Act of 2000 as well as the Gramm-Leach-Bliley Act of 1999. These two pieces of repugnant legislation (signed by Clinton) set the stage for the Great Recession.

I agree, i highly doubt they will be repealed. Today's state of politics is ugly and each party is absolutely unwilling to admit mistakes or shortcomings of their respective politicians. The dems wont repeal an act by clinton who they revere as it may show weakness. The repubs would more than likely fight the repeal only because it came from a democratic congress and house.
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Old 10-23-2009   #6
 
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I agree, i highly doubt they will be repealed. Today's state of politics is ugly and each party is absolutely unwilling to admit mistakes or shortcomings of their respective politicians. The dems wont repeal an act by clinton who they revere as it may show weakness. The repubs would more than likely fight the repeal only because it came from a democratic congress and house.
Yeah, Bill screwed up quite a few things and too few Dems are willing to admit it. On the other hand, even if the repeal(s) came up for a vote, there would be unanimous nays from the right side of the aisle because both of those stinking bills were "deregulatory" and the GOP bows to deregulation like the false god that it is.
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Old 10-23-2009   #7
 
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Yeah, Bill screwed up quite a few things and too few Dems are willing to admit it. On the other hand, even if the repeal(s) came up for a vote, there would be unanimous nays from the right side of the aisle because both of those stinking bills were "deregulatory" and the GOP bows to deregulation like the false god that it is.

Glorious times we live in. Anyone know of an affordable and impenetrable earthship for sale? The one past lemon reservoir is out of my price range.
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Old 10-23-2009   #8
 
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Glorious times we live in. Anyone know of an affordable and impenetrable earthship for sale? The one past lemon reservoir is out of my price range.
Funny story about that bunker: a friend of mine built it for the really paranoid mother/son duo who own it. They were Y2K crazy, and two very naughty buddies of mine snuck up there on Y2K New Year's Eve and fired off a barrage of bottle rockets and roman candles at midnight. One can only imagine the craziness that went on inside the bunker during the display. Fortunately they weren't met with heavy return fire of the real kind...
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Old 10-23-2009   #9
 
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Glorious times we live in. Anyone know of an affordable and impenetrable earthship for sale? The one past lemon reservoir is out of my price range.
Unfortunately for the economy to recover, today's state of politics will have to rip somebody off, no matter what legislation is set in place. Now day's before there is a winner you must have losers and we all know who that will be.
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Old 10-23-2009   #10
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Glorious times we live in. Anyone know of an affordable and impenetrable earthship for sale? The one past lemon reservoir is out of my price range.
There is a pretty impressive Earthship "subdivision" outside of Taos, NM. I don't know the cost though. Seems like you could pick up 40 acres in Rancho Durango and build your own pretty cheap. Start saving those tires and beer cans.
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