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Ben Brown's avatar

Thank you for everything you do, Matt. Reporting on the stories that matter, and that nobody else is covering.

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XBarbarian's avatar

derivatives. "looks good on paper, boss".

MBS, CDO, IRS, CDS, the list is now infinite. like a synthetic currency, that only inbreds with massive access to credit and capital can access, just another tool, ultimately about transferring risk and building collateral for extreme leverage, for the myriad of ways, people, screw other people. especially greedy inbred wall st types.. all, a collection of "wolves on wall st".

a dem admin's blessing to their primary constituents: wall st banks. not that "party" affiliation means anything, they are clearly two wings of the same bird.

back when Nova on PBS still had a little teeth, they did a fabulous expose on Brooksley Born, the head of the CFTC, her efforts to regulate the derivatives, and the raw abuse she took from the usual pigs: clinton, summers, rubin, greenspan. Highly recommend this

https://www.pbs.org/video/frontline-the-warning/

the incompetence is so egregious, it's hard not to see conspiracy.

#CorruptionPredictsConspiracy - Corruption today is so plainly EVIDENT, so widespread, there is little debate. Powerful forces naturally, and predictably, share common incentives to collaborate with one another to accomplish shared interests, even when outwardly, they would appear to be in opposition. Conspiracy MUST be anticipated, not mocked.

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