The $516 trillion dollar derivative Ponzi scheme Wall Street ran

Discussion in 'Politics' started by Chris, Oct 6, 2011.

  1. Chris
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    Chris Gold Member

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    Wall Street destroyed the economy with a $516 trillion dollar derivative Ponzi scheme.

    You can read about it at this link...

    A £516 trillion derivatives 'time-bomb' - Business News, Business - The Independent

    Thank God someone is protesting about this, because it destroyed the world economy, and NO ONE WENT TO JAIL BECAUSE OF IT, AND THE MAIN STREAM MEDIA NEVER MENTIONS IT.
     
  2. Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    Wall Street is in bed with the federal government. That's why nobody went to jail and that's why they got bailed out with our money. Don't forget when pointing the finger at Wall Street that both Republicans and Democrats in Congress were complicit in what happened.
     
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  3. Big Fitz
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    Big Fitz User Quit *****

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    Where are the investigations?
    What laws were broken?
    Which lawmakers were involved corruptly?
    When is the Justice Dept going to file charges?
    Why is there not a special prosecutor investigating this practice?

    I think the answer is that since the fox is watching the hen house, nobody's going to do any of these things. Until the fox is done away with, and someone DOES get the chop, and not just some scapegoat... it's business as usual in Washington and Wall Street.

    If crimes were committed, where is Justice? No one should be above the law.
     
  4. martybegan
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    martybegan Platinum Member

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    How is it a ponzi scheme?
     
  5. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Yawn.

    Chris, you headed to Occupy Wall Street?
     
  6. healthmyths
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    healthmyths Gold Member Supporting Member

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    Tell me.. do you interpret this statement as I do?
    Oct. 23,2008 (Bloomberg) --
    Fannie Mae and Freddie Mac have an ``effective'' federal guarantee, not the
    "full faith and credit'' of the U.S. government, Federal Housing Finance Agency Director James Lockhart said after the hearing. That does give them effectively a guarantee of the U.S. government.''
    Lockhart's Fannie, Freddie Guarantee Remarks Stir Up Confusion - Bloomberg


    So where are the risks in any Fannie/Freddie securitized mortgage packages?
    If the U.S. government guarantees the mortgages where are the risks?
     
  7. Si modo
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    Si modo Diamond Member

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    Oops. I saw 'Ponzi scheme' in the title and thought the thread was about Social Security.

    My bad.
     
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  8. AmericanFirst
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    AmericanFirst Gold Member

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    Freddie and Fannie were the main cause of the housing market crash, which was supported by monicas little bitch boy clinton.
     
  9. California Girl
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    California Girl BANNED

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    The problem was far bigger than just a housing crash. We could have ridden that out quite easily.
     
  10. The T
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    The T George S. Patton Party Supporting Member

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    Maybe he's already there on his iPad that Corporate America built that he loathes?
     

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