tag:blogger.com,1999:blog-7400390336523591685.post945907060808328101..comments2023-08-24T08:56:06.522-05:00Comments on Rhymes With Clown: AIG: Pharaoh should let it's people go. Now.Jeremy R. Shownhttp://www.blogger.com/profile/11303377672028774152noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7400390336523591685.post-52893750636410819942009-03-18T23:30:00.000-05:002009-03-18T23:30:00.000-05:00Not having a degree in economics but being a stude...Not having a degree in economics but being a student of of time, I truly have to ask the question would credit default swaps have been possible before the age of computer trading, or for that matter, would any of this mess we are in have been possible before computers? I reiterate my point that things cannot operate on the models of old archetypes of barter. Barter (here I'm sounding like Ezra Pound again) must be grounded in something time-oriented, like the time it takes to cut a tree or pick an apple; otherwise it is simply instantaneous nothingness, black holes "created" by brokers bending over computers trying to find any way to cheat the public. The money-lenders must be driven from the temple again and regulations (pre-Ronald Reagan)be put in place or the "system" won't work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-71984399029695496212009-03-17T01:08:00.000-05:002009-03-17T01:08:00.000-05:00Good for AIG and their big-wigs. The leaders of AI...Good for AIG and their big-wigs. The leaders of AIG deserve the bonuses. They were able to pull off quite the con job by getting the taxpayers to keep them afloat. Had there been no bailout of AIG, I don’t think they’d be getting their bonus. Serves us right!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-85403035132894893952009-03-16T06:53:00.000-05:002009-03-16T06:53:00.000-05:00Del,If you are saying that CDS's are a major part ...Del,<BR/><BR/>If you are saying that CDS's are a major part of what is crippling the financial industry right now, I would say you are right.<BR/><BR/>Many people seem to have forgotten that risk still existed, home prices wouldn't go up forever, and sometimes debtors default. AIG (and others) proved incapable of recognizing these basic facts and accounting for them in the management of their business.<BR/><BR/>I seem to recall a Will Rogers quote where he described a commodities future contract as being between someone who sold something he didn't have and someone else that bought something they didn't want (I'm paraphrasing here, but you get the idea.)<BR/><BR/>I would say these CDS have a similar quality to them.Jeremy R. Shownhttps://www.blogger.com/profile/11303377672028774152noreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-16249061394720888422009-03-15T22:40:00.001-05:002009-03-15T22:40:00.001-05:00Jeremy,I have a B.A. in Econ as well. I know we a...Jeremy,<BR/>I have a B.A. in Econ as well. I know we are on a sort of Ferris Wheel here, but I would ask you to look at (yep, we're supposed to be transparent and we're not) a huge but untold concept (ok, screw the concept) called "credit default swap".<BR/>It's the bug in the rug. It's the real reason because the web holding International banking institutions seems to live in this network. If I'm wrong kick me off your scene, but at least give it a look.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7400390336523591685.post-57466738179309942852009-03-15T22:40:00.000-05:002009-03-15T22:40:00.000-05:00Jeremy,I have a B.A. in Econ as well. I know we a...Jeremy,<BR/>I have a B.A. in Econ as well. I know we are on a sort of Ferris Wheel here, but I would ask you to look at (yep, we're supposed to be transparent and we're not) a huge but untold concept (ok, screw the concept) called "credit default swap".<BR/>It's the bug in the rug. It's the real reason because the web holding International banking institutions seems to live in this network. If I'm wrong kick me off your scene, but at least give it a look.Anonymousnoreply@blogger.com