Info on financial crisis and sub prime

[genmaicha]

I just saw this show with Bill Moyers talking to William Black who worked on the saving&loans crisis. I found it very interesting to learn about how the crisis came about:

http://www.pbs.org/moyers/journal/04032009/watch.html

 

And this video is very interesting on the illegal practice of naked short selling and how it contributed to the fall of Bear Stearns:

http://www.deepcapture.com/the-short-heard-round-the-world/

 

Naked short selling is used by a group of hedge funds to kill off small cap companies by creating phantom shares that are sold into the market thus creating downward pressure. It is often accompanies by negative articles from bought financial journalists, false research reports, SEC investigations as well as class action lawsuits by companies such as the crooked Milberg Weiss.

On the site deepcapture.com there is a lot of interesting info on this, also on manipulation of Wikipedia for example.

[genmaicha]

If any of you guys rely on the US financial market to hope to preserve and grow the fruit of your work so that you can afford to take time off for intensive practice you might be interested in this new article on deepcature.com that I mentioned above.

http://www.deepcapture.com/michael-milken-...hapter-1-of-15/

 

Basically there is one simple demand that is not fulfilled today: Settle the trades. If I buy stock and give money I want the stock and not some IOU.

And of course reinstate the uptick rule. It's amazing that this could have been abolished.

The US stock market watchdog SEC is a big joke. After Madoff everybody knows this. People there have been captured by the financial industry. Instead of controlling Wall St they were (are) kowtowing to it, hoping to get well paid jobs with hedge funds or WallSt law firms.

[Herodes]

[froggie]

ehrr .... dude (!)

 

there are many reasons why it's doing what it's doing.

 

what you are saying sounds more complicated than useful (no offense intended)

 

in my opinion the biggest reason why it's called a crisis is because the fall is much deeper than it would have been if everything was allowed to move up and down 'naturally' (as opposed to find out tricks and stuffins to keep it going up and up and up and up.) (i guess some people thought there might be a way to make it go that way and not fall ..... but if that was true, then they have failed it.)

 

 

i know it's slightly more complicated (intrinsic) than that. but the basic idea.... ...actually it's not a lot more complicated (intrinsic) than that. basically all it would need is slightly more elaboration and more expensive words (the pun is highly and almost sarcastically intended, if it wasn't done so intentionally (and perhaps misconceptually)), if you will.

Edited June 21, 2009 by froggie