Why Are Fools in Charge of the World Economy?

[JimBowie1958]

No they aren't.

You deny the Fed is printing the Dollar out of existence?

So Bernanke is going to buy everything for cheap when this is over?
That is way beyond stupid.

Not sure why you say that; its the classic buy low sell high thingy.

 

[EdwardBaiamonte]

You deny the Fed is printing the Dollar out of existence?

So Bernanke is going to buy everything for cheap when this is over?
That is way beyond stupid.

Not sure why you say that; its the classic buy low sell high thingy.

you said bankers are crashing the system to buy cheap after the crash. That is beyond stupid! Half the banks are or have gone bankrupt so its doubtful that its part of a strategy to crash the system!!

As nut case idiotic conspiracy theories go its average

 

[Toro]

Goldman Sachs has NO role in the Greek demise eh?

Not to deliberately crash the economy, no.

Well then tell us Toro, what happens to a gov'ts debt ratio when austerity is introduced?

Does it go UP or DOWN?

Sidebar: The New Greek PM is 64-year-old former vice president of the European Central Bank. Of course that's just a "coincidence" right?

If that doesn't scare you this will: He's a graduate of the Kennedy School Of Gov't and Harvard! Just like the White Shoe Boys at the Fed.

You aren't making any sense.

 

[Toro]

The Bankers in charge of the worlds economies know exactly what they're doing: Crashing the system so they come in afterward and buy everything up for cheap!

And they're so smart that they're actually having us PAY FOR IT ALL!

No they aren't.

Um, Toro, we *have* paid for it, and we are about to pay again.

He's saying that the banks are deliberately crashing the system. That's idiotic.

 

[Toro]

You deny the Fed is printing the Dollar out of existence?

So Bernanke is going to buy everything for cheap when this is over?
That is way beyond stupid.

In case you didn't notice, after the crash of 08 the mega banks bought everything up cheap.

Most of the big banks have been sellers, not buyers. Huge volumes of assets have been sold at discounts. We've been buying them.

 

[expat_panama]

...you said bankers are crashing the system to buy cheap after the crash. That is beyond stupid!...

Agreed.

Would be nice if there were some way to clean up the discourse and consult, but that requires respect for reality and willingness to set aside blind class hatred.

 

[georgephillip]

The 18 former and current directors from Federal Reserve Banks who collectively pocketed over $4 trillion in bailout money provided by the Fed after the 2008 crisis seem very clear about the reality of class war.

Would be nice if everyone was as clear about class war as the rich are.

Federal Reserve Directors' Banks and Businesses Took $4 Trillion in Bailouts: Report | Common Dreams

 

[bripat9643]

Why Are Fools in Charge of the World Economy?

The answer is simple: it's called democracy. That's the system that allows the bottom 51% of the population to choose our leaders.

 

[georgephillip]

Why Are Fools in Charge of the World Economy?

The answer is simple: it's called democracy. That's the system that allows the bottom 51% of the population to choose our leaders.

Capitalism creates wealth owners who decide which candidates the bottom 51% of the population choose.

 

[expat_panama]

The 18 former and current directors from Federal Reserve Banks who collectively pocketed over $4 trillion in bailout money provided by the Fed after the 2008 crisis...

We can either dress properly for the occasion--

--or we can cut to the facts.

We're talking the 2008 TARP (AKA 'bailout')?

Almost All TARP Funds Have Been Paid Back

More than 99 percent of the federal funds given to help keep banks in operation during the recent financial crisis through the Troubled Asset Relief Program’s Capital Purchase Program have now been repaid, the U.S. Department of the Treasury announced. Through repayments, interest and other income...​

Source: Credit.com (Almost All TARP Funds Have Been Paid Back | Credit.com News + Advice)

--then we need to ask if those fed bank heads also paid the interest payments from their own pockets...

 

[California Girl]

Goldman Sachs has NO role in the Greek demise eh?

Not to deliberately crash the economy, no.

Well then tell us Toro, what happens to a gov'ts debt ratio when austerity is introduced?

Does it go UP or DOWN?

Sidebar: The New Greek PM is 64-year-old former vice president of the European Central Bank. Of course that's just a "coincidence" right?

If that doesn't scare you this will: He's a graduate of the Kennedy School Of Gov't and Harvard! Just like the White Shoe Boys at the Fed.

Can I just point out... the Greek elections are today.... so you don't actually know who their 'new PM' is. Just sayin'. It helps to keep your conspiracy theories at least vaguely close to reality.

 

[georgephillip]

The 18 former and current directors from Federal Reserve Banks who collectively pocketed over $4 trillion in bailout money provided by the Fed after the 2008 crisis...

We can either dress properly for the occasion--

--or we can cut to the facts.

We're talking the 2008 TARP (AKA 'bailout')?

Almost All TARP Funds Have Been Paid Back

More than 99 percent of the federal funds given to help keep banks in operation during the recent financial crisis through the Troubled Asset Relief Program’s Capital Purchase Program have now been repaid, the U.S. Department of the Treasury announced. Through repayments, interest and other income...​

Source: Credit.com (Almost All TARP Funds Have Been Paid Back | Credit.com News + Advice)

--then we need to ask if those fed bank heads also paid the interest payments from their own pockets...

Or we could cut a little deeper to the conflicts of interest...

"More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse, according to Government Accountability Office records made public for the first time today by Sen. Bernie Sanders.

"On the eve of Senate testimony by JPMorgan Chase CEO Jamie Dimon, Sanders (I-Vt.) released the detailed findings on Dimon and other Fed board members whose banks and businesses benefited from Fed actions.

"A Sanders provision in the Dodd-Frank Wall Street Reform Act required the Government Accountability Office to investigate potential conflicts of interest..."

Does that pointy hat you're wearing make it difficult to remove your head from Jaime's sandbox?

Federal Reserve Directors' Banks and Businesses Took $4 Trillion in Bailouts: Report | Common Dreams

 

[EdwardBaiamonte]

"More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse,

so??? did you want to let the banks go under and create an eternal Great Depression? Little Lehman alone was almost enough to cause a chain reaction. Catching on now?

 

[expat_panama]

...directors from Federal Reserve Banks who collectively pocketed over $4 trillion ...

...dress properly for the occasion--

"More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse, according to Government Accountability Office records made public for the first time today by Sen. Bernie Sanders...

Ah, so the story used to be Fed directors pocketing $4T, and the new tale is that some Senator with congressional immunity is making wild claims about "loans and other financial assistance" that was scarfed up by those Fed Directors--

oops!!!

ah, er, it really wasn't the Directors themselves actually, but it was the banks --that's right, a bunch of mean ol' banks that were "of" the directors.



OK, whats this 'of' bit all about, these were banks that some director's kid sister had an account with?

 

[georgephillip]

"More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse,

so??? did you want to let the banks go under and create an eternal Great Depression? Little Lehman alone was almost enough to cause a chain reaction. Catching on now?

"Essentially, action taken by the Federal Reserve overwhelmingly benefited directors of the Federal Reserve, above other beneficiaries. The report titled Jamie Dimon Is Not Alone names the top 18 Reserve directors including Jamie Dimon who received the largest Federal Reserve loans and other financial assistance during the crisis.

"'This report reveals the inherent conflicts of interest that exist at the Federal Reserve. At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks. These conflicts must end,' Sanders said."

The Fed chose to help the rich parasites who caused the crash instead of their victims.
Surely even a devout corporate tool like you caught that?

Federal Reserve Directors' Banks and Businesses Took $4 Trillion in Bailouts: Report | Common Dreams

 

[georgephillip]

...dress properly for the occasion--

"More than $4 trillion in near zero-interest Federal Reserve loans and other financial assistance went to the banks and businesses of at least 18 current and former Federal Reserve regional bank directors in the aftermath of the 2008 financial collapse, according to Government Accountability Office records made public for the first time today by Sen. Bernie Sanders...

Ah, so the story used to be Fed directors pocketing $4T, and the new tale is that some Senator with congressional immunity is making wild claims about "loans and other financial assistance" that was scarfed up by those Fed Directors--

oops!!!

ah, er, it really wasn't the Directors themselves actually, but it was the banks --that's right, a bunch of mean ol' banks that were "of" the directors.



OK, whats this 'of' bit all about, these were banks that some director's kid sister had an account with?

Jamie Dimon's kid sister owns a bank?
Does your tinfoil get stuck in her sandbox too?

"In Dimon's case, JPMorgan received some $391 billion of the $4 trillion in emergency Fed funds at the same time his bank was used by the Fed as a clearinghouse for emergency lending programs.

"In March of 2008, the Fed provided JPMorgan with $29 billion in financing to acquire Bear Stearns.

"Dimon also got the Fed to provide JPMorgan Chase with an 18-month exemption from risk-based leverage and capital requirements. And he convinced the Fed to take risky mortgage-related assets off of Bear Stearns balance sheet before JP Morgan Chase acquired the troubled investment bank."

Federal Reserve Directors' Banks and Businesses Took $4 Trillion in Bailouts: Report | Common Dreams

 

[dilloduck]

When you get too big to fail you are free to "goof up".

 

[The Rabbi]

No they aren't.

You deny the Fed is printing the Dollar out of existence?

You are charging a nefarious conspiracy. It's silly.

Mad Scientist is a narco-libertarian. Conspiracy is their explanation for everything.

 

[expat_panama]

...whats this 'of' bit all about, these were banks that some director's kid sister had an account with?

Jamie Dimon's kid sister owns a bank?
Does your tinfoil get stuck in her sandbox too?

"In Dimon's case, JPMorgan received some $391 billion of the $4 trillion in emergency Fed funds...

LOL!!!

OK, so with Dimon's being the CEO for JPMorganChase, how can a half $T go in Dimon's pocket if all $4T's already gone into the Fed Director's pockets?

 

[JimBowie1958]

So Bernanke is going to buy everything for cheap when this is over?
That is way beyond stupid.

Not sure why you say that; its the classic buy low sell high thingy.

you said bankers are crashing the system to buy cheap after the crash. That is beyond stupid! Half the banks are or have gone bankrupt so its doubtful that its part of a strategy to crash the system!!

As nut case idiotic conspiracy theories go its average

Not the whole system, just the markets, like they did in 1932 and made out like bandits.

You do know that GS, JPM and BoA handed out record bonuses after the bailout, right?

They dont aim to crash the system, but if they miss their call they could inadvertantly destroy it.