Yes, that is a great OWS protest sign

via http://www.ritholtz.com/blog/2011/10/the-greatest-ows-protest-sign-ever/

...and made billions in profits on that hedge while getting bailed out with our money on the bad debt at the same time

... for an economy that sorely needs such investment.

All of this could be prosecuted by taking over the Manhattan prosecutors office.

Along with criminal conspiracy, generated with the bribes to the rating agencies.

(Yes, Virginia, New York State has its own version of RICO.)

Don't hold your breath.

... the message was sent. I ain't holding my breath.

I keep telling people that the securities game was rigged because:

1) they thought they would have property that was worth more than the loan if the borrower defaulted.
2) they had insurance in case of default on the loans.
3) They had bet against the loan being repaid anyway.

What is the proper name for how they achieved option #3? I know they had some kind of investment vehicle that allowed them to profit even if the investment failed. What is that called?

That would be your garden variety credit default swap.

that you had the ulterior motive of wanting to bust anyway

someone high up in the administration indicated, if memory serves me correctly. :patriot:

we want them to stop doing this.

So fuck off

you fucking assholes.

they are comprised of triple-B mortgage based bonds.

What a scam! And Obama breezily dismisses any possibility of its having been illegal.

Words fail me.

Federal laws, maybe-maybe-maybe.

Local laws, certainly.

It's like murder. Unless it happens on Federal property, it's local jurisdiction. Not Federal.

(We might could discuss mail fraud....)

This will need to be a strange fruit solution.

you're alluding to the Billie Holiday song by the same title). But I feel your frustration and anger and share that.

Grounding without TV privileges for a week?

No hot chocolate before bed?

A stern talking to?




Just kidding and I too don't think that the strange fruit is a good way to go, but at this point I don't see TPTB giving in without that kind of real threat or reality over their heads. And I do think that many of them may have earned such a fate. I am not advocating it as much as prognosticating it.

Good to chat with a fellow Billie fan. Check out act one in the following link. http://www.thisamericanlife.org/radio-archives/episode/104/music-lessons

the interests of justice.

Actually, I think a good first step in the wake of OWS would be some sort of national Truth and Reconciliation (and Reparations) Commission (a la South Africa after the fall of apartheid). Any financial exec who refused to testify and or failed to pay reparations would face the afore-mentioned 20 years to Life sentence. I'll be surfacing this proposal at the next Action Committee meeting as a longer-term goal of OWS.

On the run, but bookmarking your link for later tonight.

First, it must be maximum security in general population. No club fed and no special accomodations. Otherwise we are just giving them a hotel.

Second, no chance of early release or parole. Otherwise they will just buy their way out.

Third, forfieture of all assets found at time of trail or in the future. Or we are just allowing them the tools to do it again, either in this generation or by handing it off to the next generation.

But I like the truth or reconciliation idea. When Obama got elected I wondered if he could be another Mandela - he wasn't.

that Obama spend 27 years in a prison like Robben Island. But I get your drift. I also concur whole heartedly with your three provisos. Sunlight (truth) is the best disinfectant. That's what we need, to disinfect the populace, much like the Church Committee attempted some 35 years ago.

Obama didn't need to break little rocks into small for 27 years (although it might have helped, maybe), he just needed to focus on the long range big picture and done the right thing to heal the country.

He may have tried and maybe he will yet. One can always hope.

That is a DUzy. Thanks for giving me a needed laugh.

K&R

They don't know how those type of securities are created, or why they were poisonous to the purchaser, or how money is made out of thin air with derivatives.

Their understanding of finance is nil.

:evilgrin:

parking lot:

"I'm from South Carolina, and WE ARE that stupid!"

The pick-me-up truck which provides the sticker's current residence also has SC plates.

The t-baggers mouths will be sore from the exorcize of trying to read something so long and they will have forgotten the beginning by the time they get to the middle anyway. To say nothing of not knowing anything about he subject in the first place.

That sign could actually raise some teabagger's consciousness.

Passing it on...

by all means pass it on - it's a win-win.

psychologically speaking. Take it from a therapist. ;)

and belief in your fellow man, I think you are giving Teabaggers a bit too much credit.

...to accuse her of having a sign which amounts to "Hooray for our side."

Well, uh..., uh...

Drill Baby Drill!

It’s WRONG to create a mortgage-backed security filled with loans you KNOW are going to fail and to bribe the ratings agencies to rate your CDOs as triple-A so that you can sell it to a client who is not aware that you sabotaged it by intentionally picking the misleadingly rated loans most likely to be defaulted upon and then to also bet against its success with insurance policies knowing the mortgage securities that you sold as “extremely safe” would fail... and then to make billions in profits on that hedge while getting bailed out with billions of dollars of public money on the bad debt at the same time. It’s not only WRONG, it’s fraud and insider trading. Martha Stewart went to jail for less. Just sayin’…

:rofl:

and not misspell a one?

I'd say slim to none.

(Damn, she's cute!)

Anarchism is not a dirty word. Just sayin' ... ;)

Which to a Wall Street banker means financially right. Morality doesn't pay for a house in the Hamptons.

Some of the signs are long and you'd have to practically stand in front of them to get the message. I've been going to Occupy NH and the best one I've seen has been "If a corporation is a person, so is my cat. Can he haz bailout?"

:rofl: :rofl:

Slavery was abolished for good reasons, in case we forgot :rofl:

really makes me realize how completely illiterate I am when it comes to anything financial. I have absolutely no idea what that means. Why don't they teach us this stuff in school? Oh, that's right... because they want everyone to be as ignorant of this stuff as I am.

I failed in life.

a short attention span and are only interested in American Idol...:spray:

K&R.