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Two Billion Dollar Tip of Banking Iceberg (Original Post) MindMover May 2012 OP
Well, now... chervilant May 2012 #1

chervilant

(8,267 posts)
1. Well, now...
Tue May 15, 2012, 07:50 AM
May 2012

The argument can be made that we have all bellied up to the hedonism trough. Perhaps there IS some personal responsibility for buying the Capitalist 'wealth carrot meme' without question. However, the catastrophic economic reordering we're witnessing is more directly the responsibility of the vile corporate megalomaniacs (hello, Mr. Dimon...) who own and control the vast majority of this planet's resources. Their hedonism has repercussions exponentially more damaging than any greedy act of any individual member of the Hoi Polloi.

I encourage ALL of those who seek to blame anyone but the bankers and other fraudsters, consider this:

(actually, this should be of concern to everyone watching with bated breath as the global economy teeters on the brink of catastrophic reordering)

{Born} once again warned about the danger of Dark Markets, now grown to $680 trillion of notional value, according to the Bank for International Settlements -- "more than 10 times the amount of the gross national product of all the countries in the world."


(emphasis mine; the quote references Brooksley Born)

Does anyone out there TRULY believe that our global economy has the combined resources to cover this ginormous financial Black Hole, created by an incredibly small number of hedonistic corporate megalomaniacs? Even the most math-challenged average human being can see that these "Dark Market" investment instruments are literally worthless.

I encourage everyone to stop wasting time and energy blaming members of the hoi polloi for the crimes and malfeasance of an infinitesimally small percentage of hedonistic Corporate Megalomaniacs. We will need to help each other get through the economic disaster we're facing.

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