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'Popular' economics!: AKA: "Destruction al la shorts"

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'Popular' economics!: AKA: "Destruction al la shorts"

Postby Mad Howler » Sat May 19, 2012 12:12 am

http://www.rollingstone.com/politics/blogs/taibblog

Even Taibbi is doubtful any meaningful consequences will be available for these perp's.
Last edited by Mad Howler on Thu Jul 19, 2012 11:46 pm, edited 2 times in total.
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Re: Destruction al la shorts, any of you paying attention?

Postby narcoleptish » Sat May 19, 2012 12:02 pm

I wish Taibbi could be read by a wider audience. Of course there would be no guarantee that they would understand it, kinda like how half of Wisconsin thinks our governor is just trying to balance the budget.
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Re: Destruction al la shorts, any of you paying attention?

Postby Mad Howler » Sat May 19, 2012 9:23 pm

narcoleptish wrote:I wish Taibbi could be read by a wider audience. Of course there would be no guarantee that they would understand it, kinda like how half of Wisconsin thinks our governor is just trying to balance the budget.


Bloomberg, the NYT's, and The Economist were also in on this freedom of info request.

http://www.economist.com/blogs/schumpet ... litigation

We will see who else reports on it. But I doubt the story will get national traction, let alone Wisconsin.

Where's the outrage?
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Re: Destruction al la shorts, any of you paying attention?

Postby acereraser » Sat May 19, 2012 10:20 pm

Mad Howler wrote:Bloomberg, the NYT's, and The Economist were also in on this freedom of info request.

http://www.economist.com/blogs/schumpet ... litigation

We will see who else reports on it. But I doubt the story will get national traction, let alone Wisconsin.

Where's the outrage?


Over in the Neo-Birther thread.

Seriously though, there have been a number of threads over the years here on the DPF about the malfeasance of Wall Street, and there are never any posts by anyone who would, say, vote for Scott Walker. Not that there are ever many posts, but it has always seemed to me that this was one topic where everyone who wasn't actually an investment banker could agree. Even Ayn Rand was against the "looters".
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Re: Destruction al la shorts, any of you paying attention?

Postby Mad Howler » Sat May 19, 2012 10:39 pm

acereraser wrote:Seriously though, there have been a number of threads over the years here on the DPF about the malfeasance of Wall Street, and there are never any posts by anyone who would, say, vote for Scott Walker. Not that there are ever many posts, but it has always seemed to me that this was one topic where everyone who wasn't actually an investment banker could agree. Even Ayn Rand was against the "looters".


Amen brother. This nonsense is confusing but is a big f-Ing deal. I have a kernel of hope that most Americans get it at some level as attempts to throw social security on to the markets have historically been unpopular. Either I wasn't listening or I wasn't told, but i have discovered this democracy business to be hard!
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Re: Destruction al la shorts, any of you paying attention?

Postby Detritus » Sat May 19, 2012 10:50 pm

"Democracy is messy," as Rummy said when shrugging over looting in Iraq. And this is an exactly parallel instance. But with investment bankers firmly embedded in all branches of government, I can't see anything happening other than more such events.
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Re: Destruction al la shorts, any of you paying attention?

Postby Mad Howler » Sat May 19, 2012 11:18 pm

Detritus wrote:"Democracy is messy," as Rummy said when shrugging over looting in Iraq. And this is an exactly parallel instance. But with investment bankers firmly embedded in all branches of government, I can't see anything happening other than more such events.


Man, that Rummy was full of all kinds of wisdom. It's truely amazing we slid into this mess under that admin's stewartship. I used to give people I know shit for voting for Nader back in 2000, now I have to quietly nod an smile. So your right. The fix is in, but what can we do? Something very uncomfortable to most of us; exercise our democratic rights afforded to us. Expect and demand better stewardship, make noise.
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Re: Destruction al la shorts, any of you paying attention?

Postby acereraser » Wed May 23, 2012 2:16 pm

This may help explain why no one who would vote for Walker cares about Wall Street malfeasance. Apparently, the government regulators were at fault, not JPMorgan Chase, because they failed to look into the trades in question ahead of time. The reason for that was because the Dodd-Frank rules have not come into play yet, and so they did not have the authority.

The solution is obvious: gut Dodd-Frank. Obviously, regulating Wall Street doesn't work. And socialism.
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Re: Destruction al la shorts, any of you paying attention?

Postby Mad Howler » Thu May 24, 2012 10:05 pm

acereraser wrote:This may help explain why no one who would vote for Walker cares about Wall Street malfeasance. Apparently, the government regulators were at fault, not JPMorgan Chase, because they failed to look into the trades in question ahead of time. The reason for that was because the Dodd-Frank rules have not come into play yet, and so they did not have the authority.

The solution is obvious: gut Dodd-Frank. Obviously, regulating Wall Street doesn't work. And socialism.


I really appreciate the link, very informative and the behavior of the the regulators and players are annoying. So I start thinking about how I am a slave to my amygdala as well. This evening I sat in for my son for a game of Mancala against my wife, I think I'm doing pretty well but in the end she has me on the ropes (as usual) so I do something very unadmirable. I quit and call the game stupid. This is a stupid response on my part as the rules are as ancient as the hills, but what if I had some way to influence the rules? While the rules of Mancala can be understood by most everyone, the rules that govern how investments that most all of us rely on for our future are definitely are not so clear. While whatever unadmirable trait I displayed is sad, the potential for those with real profit potential is outrageous.
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Re: Destruction al la shorts, any of you paying attention?

Postby Mad Howler » Mon Jun 11, 2012 11:20 pm

This commenter seems to be an anathema of both sides of our dichotomy, but I've been following this howler.

http://www.paulcraigroberts.org/2012/06 ... e-at-hand/

I do not like what I'm hearing but I feel compelled to listen. I find it even more interesting to look at the comments section of today's Financial Times and see a note co-authored by Dennis Hastert and Dick Gephardt entitled "Washington must agree on the rules of focal engagement" and another written by a professor at the University of Chicago Booth School of Business entitled "Why I was won over by the merits of Glass-Steagall". You gotta pay if you what to look at the content, but I find this seeming "reasonableness" interesting in the context of the solution Roberts provides.

p.s.
With a little more digging I found this re Hastert and Gephardt:
http://www.reuters.com/article/2012/06/ ... 3920120611

And this regarding the Glass-Steagall business:
http://www.ft.com/cms/s/0/cb3e52be-b08d ... z1xYEO51Ie
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Re: Destruction al la shorts, any of you paying attention?

Postby Mad Howler » Thu Jul 19, 2012 11:02 pm

I did not know where else to plug this in as we don't do economics here so thoroughly. When I read the content in the thread below I had a hard time looking away without asking some introspective questions about how we got to where we are and how we are collectively not dealing well with our situation.

http://www.paulcraigroberts.org/2012/07 ... rspective/
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Re: 'Popular' economics!: AKA: "Destruction al la shorts"

Postby Mad Howler » Mon Jul 23, 2012 9:36 pm

I understand that there is a great deal to keep up with, but I kind of thought this community was capable of keeping a stern eye on financial subterfuge that affects us all. I am sorry to have over estimated the members of this forum. I suppose it is easier and more fun to shit on L.M. over on another thread, and probably deserved but what's the point in the long run? Cons never want to engage on tanks like HF, AFP, etc..; and it seems nobody here wants to take a crack at how we are not so slowly being screwed by mega financial and banking "interests". Perhaps it is complicated/hard to follow, but we better pay attention as it is the 900# gorilla in the room.
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Re: 'Popular' economics!: AKA: "Destruction al la shorts"

Postby Detritus » Mon Jul 23, 2012 10:10 pm

Mad Howler wrote:I understand that there is a great deal to keep up with, but I kind of thought this community was capable of keeping a stern eye on financial subterfuge that affects us all. I am sorry to have over estimated the members of this forum. I suppose it is easier and more fun to shit on L.M. over on another thread, and probably deserved but what's the point in the long run? Cons never want to engage on tanks like HF, AFP, etc..; and it seems nobody here wants to take a crack at how we are not so slowly being screwed by mega financial and banking "interests". Perhaps it is complicated/hard to follow, but we better pay attention as it is the 900# gorilla in the room.

Perhaps if you did more than post links and comment on how wild things are the rest of us would have more to say. Give us a reason to follow the links beyond "economics is hard."
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Re: 'Popular' economics!: AKA: "Destruction al la shorts"

Postby Mad Howler » Mon Jul 23, 2012 11:29 pm

Detritus wrote:Perhaps if you did more than post links and comment on how wild things are the rest of us would have more to say. Give us a reason to follow the links beyond "economics is hard."


Fine, I think I get your point. I am, however, not here to tell forons what to think. I generally think it best people find their way to a position in the face of a context presented by folks more interesting than I. I do not drop links that I do not find important, so I try not to waste your time explaining ad nauseum that you should read them in the first place. But you are correct, as I have no currency of trust here, I should work out better hooks.
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Re: 'Popular' economics!: AKA: "Destruction al la shorts"

Postby Detritus » Tue Jul 24, 2012 8:09 am

Mad Howler wrote:Fine, I think I get your point. I am, however, not here to tell forons what to think. I generally think it best people find their way to a position in the face of a context presented by folks more interesting than I. I do not drop links that I do not find important, so I try not to waste your time explaining ad nauseum that you should read them in the first place. But you are correct, as I have no currency of trust here, I should work out better hooks.

It's not a question trust, just one of interest--hooks, as you say. Give us something to bounce off of. I think we get better conversations around here when the OP is not trying to be artificially neutral.

Just try not to use too many smileys....
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