Hedge Fund Gangstas
March 19th, 2009 at 10:16 pm by Preston Taylor HolmesThis is an excellent video that explains how the Bear Stearns and Lehman Brothers attacks (via an illegal practice called naked short selling) led to the collapse of the global economic house of cards. It’s long (23 mins) but it’s so worth it. I remember having this discussion with my dad last fall, who speculated that naked short selling would be an excellent vehicle for economic terrorism – we just had the wrong country.
This is all part of what Karl D refers to as The Bezzle. If you don’t prosecute the Wall Street criminals and force the market to play by the rules, there will be no confidence in the free market. There is already no confidence in the Federal Government. And for the love of all that is holy, we have an absolute rube playing Monopoly in the Treasury Dept.
The SEC has apparently come up empty handed in trying to find out who blew up Bear and Lehman – either that or they know and they’re scared shitless to do anything about it. Either way, they suck.
Hedge Funds and the Global Economic Meltdown from Judd Bagley on Vimeo.
Also check out the Deep Capture blog for even more dirty details. Yes, I know they mentioned Michael Moore, but try to look past that.
Thanks to Terry for posting the video.
March 20th, 2009 at 5:40 am
You know I love you guyz… but I have a prob with this video. It does almost nothing to pin the tail on the real ‘donkey’… you know, the ‘blame game’… the G.E.M. wasn’t started by illicit trades on Lehman Bros. stock one day last year. It began much earlier than that when the demonrat fidiots decided that illegals and indigents could access $400k mortgages via taxpayer-backed funding.
This is no time to muddy the waters. Don’t be part of the “there’s plenty blame to go ’round” crowd. The buck stopped and it stopped in the goat-smelling anal sphincter tubes of Congress which has been owned almost wholly by the demonrats…
(rant over…) (keep up the lovin’ good spoonfuls)
March 20th, 2009 at 9:17 am
No, this is only one piece of the puzzle – you’re right about that, NDU. It really started with the CRA in the Carter Administration, but you cannot take the blame away from the Wall Street criminals as well. Like it or not, there is PLENTY of blame to go around. The Feds are at the root of it all, but you have to give credit where it’s due. Anyone with one eye and a lick of sense will be able to see this without being frightened by muddied waters. The waters are actually pretty clear and they’re rising up to about neck level right now.