Comments on: The Bet That Blew Up Wall Street
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- receipt of stolen property is still illegal...
still waiting on the zombie apokolypse - Reply to this comment
- I call it Financial cannibalism of capitalism. Perfectly planned in 2000 executed in all details to cash in right before the election n 2008. Those who played the American citizens MUST be prosecuted and their money taken just like Madoff. A history example must be set with sever punishments by the current Obama administration.
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- Certain mortgage companies align with shrewd foreclosure lawyers to
benefit from unlawfully seized & unlawfully flipped properties --mostly by use of names mortgage companies that LACK STANDING or are DEFUNCT. Successful frauds enable these companies to file FALSE form 1099-A's with the IRS, as well as to file fraudulent Bankruptcy Court "Lift Automatic Stay Motions." The potential fraud being committed on the IRS via deliberate sham foreclosures will be worse than the S&L debacle.
News reports about foreclosures which court judges VOIDED will help
raise awareness so that thousands of people will not UNLAWFULLY become HOMELESS due to ILLEGAL FORECLOSURES. See foreclosure fraud proof @
*http://www.lawgrace.org/2008/08/08/my-august-8-2008-statement-to-the-louisiana-secretary-of-state-office-of-financial-institutions-concerning-wells-fargo-irs-and-mortgage-frauds-sham-foreclosures-and-judicial-collusion-and-national-app/
*http://www.lawgrace.org/2008/09/14/lehman-brothers%E2%80%99-mortgage-troubles-nationally-evidence-of-foreclosure-fraud-deception-and-conspiracy-with-wells-fargo-deceptive-judicial-filings/. - Reply to this comment
- I saw the show for the first time this evening as well and I've since read through many viewers comments, some of which were quite enlightening. My ultimate conclusion is that we cannot count on any of our representatives to represent us. Clinton could and should have vetoed it, Christmas or not. His total disregard for the possible outcome goes hand-in-hand with his reputation as a bad loser.
That it passed unanimously is even more disconcerting since certainly the democrats still sitting could and should have voted against it. One can only conclude that a lot of those people made a lot of money on those deals. I wish we could get the names of members of congress who did business with those companies that made a killing in CDS. Greed is non-partisan. Everyone is guilty, and the more you have, the more you want. I'm sure that they would all defend it as good business judgement. In the end you must look out for yourself- as Voltaire said- il faut cultiver son propre jardin. It's too easy though, to let the liars and fleecers off the hook so I agree with the fellow who wrote in last year and suggested that we tax the living daylights out of everyone making over $250,000 a year, with a seering 50% bracket for people over say $500,000. That's how it was before Reagan when we were a real country. While I'd like to see an end to the capital gains tax for my own obvious reasons, we should probably tighten that one up and make sure there aren't any loopholes. If these guys and gals ( Since Pelosi's husband is/was? a hedgefund manager) are going to get rich on our sweat- then let them pay for it- fully fund Medicare, fully fund Medicaid, give the money back to the states to pay for the pensions and rebuild our schools & highways. Make them pay- Make them pay- they can afford it. - Reply to this comment
- Very good story, glad to see some information like this coming out about what happened. Steve good job but you stop short and end up on the wrong road. We need to stop blaming everything on the government regulation or de-regulation as the case maybe. You came so close to getting to what I want to know.
You made the comparison of these instruments to side bets but stop there. Let?s continue with this comparison, in a bet there is always a winner and a loser. We know who the losers are; the company?s issuing these policies. Here?s the problem Bookies, Casino?s and Race tracks are the one ?issuing? bets and they are usually pretty profitable. So why did the issuer of these policies get burned so badly.
At best it was horrible business management by multiple companies. At worst it was insider trading on steroids. I hate to sound like a conspiracy nut but the big bounces paid to these companies management sure seem to point to a payment for a job well done. Then other companies giving mortgages to anyone that could rub to nickels together. It is hard to believe so many companies did so many seemingly stupid things all at the same time. Then add in that regulators relaxed the laws after being illegal for over a 100 years and ensuring that states could not regulate it.
This is the story I want investigated and reported on. Who all gained from this and were they involved in any part of what caused it.
In my opinion groups of greedy people who would do this is a greater threat to the USA than any foreign terrorist organization. If evidence is found this occurred, could law enforcement use the terrorism laws to aid in the criminal investigation of this financial terrorism? - Reply to this comment
- I wish congress would demand a review of the hedge funds which profited so handsomley from these CDS and reveal all the notable people of vested interest who profited on all this.
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- Would someone out there share their wisdom and tell me what piece of legislation made this all possible and who introduced the piece to begin with?
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- Unfortunately, most of comments show that the authors don''t understand the roots of the current crises. Those authors have been brainwashed with the myths of the "American dream," freedom and the superiority of the capitalist system.
That system needs a deep revision toward the "capitalism with the human face" - Do you remember- "...human face"?
Otherwise, it is, and it would remain a jungle, that is no better than communism! - Reply to this comment
- Unfortunately, most of comments show that the authors don''t understand the roots of the current crises. Those authors have been brainwashed with the myths of the "American dream," freedom and the superiority of the capitalist system.
The system needs a deep revision toward the "capitalism with the human face" - Do you remember- "...human face"? Otherwise, it is, and it would be a jungle, that is no better than communism! - Reply to this comment
- Either Clinton didn''t know the Enron loophole was in there, or he was going to benefit from it. Either way it led to this. If he didn''t know, then he is kicking himself now for not seeing it and yelling at his former advisers as well. If he did benefit from it, then he can try to sleep with the knowledge that his involvement is causing the rise in homelessness and poverty in our great nation.... Reps and Dems on both sides approved this bill and might not have known about it. And Bush vetoed the Bill that would close the loophole? What the.... Bush also vetoed every measure against the NSA until telecom was allowed immunity. he loves us so much. thanx b.
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