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The bigger and more obvious the crime, the less likely of prosecutions.
This is the new way. All hail the new way.
So while some post flow charts explaining the hilarity behind conspiracy theories,
So while some post flow charts explaining the hilarity behind conspiracy theories,
there should be a warning that the link is to Ritholtz (though I am sure he will appreciate his traffic quadrupling)
I was just thinking the exact same thing reading through the article. I suspect we'll even see the laws changes to provide exemptions to certain parties but it will keep the whole legal framework to prosecute who is not in the "click".
At least somebody is pissed off enough to try to eliminate the problem. Look at how the treasury and the FED are doing favors for Goldman Sachs. Goldman Sachs is a hedge fund with bank status. Thanks Hank and Ben. This is wrong and totally corrupt to allow. Otherwise, all hedge funds should be able to go to the discount window.
The U.K. taxed excess CEO profits @50%. Would we have enough good people to do that here. Loyd Blankfein's 100 million dollar bonus is the result of tax payer funding. We paid for his bonus. All the while he belongs in Jail with Neel Kashkari.
Too Big To Fail is Much Bigger at JPM, GS, C, and BAC. Will they break them up? If not, the next crisis will be bigger.
Here is what Uncle Ben is going to say about it all -
Just like his presser went, so will he continue.
This crap went down in 2009. Amazing, two years later. For most, it is under the rug. Things that make me go Hmmmm.
Blankfein belongs in jail? How silly! He belongs at the wrong end of a rope or firing squad!
"who is not in the "click""
I was thinking the same. This is a warning shot to let the evil do-ers know, hands off Sovereign CDS.
But no mention of corporate CDS. Excellent! Net effect on Markit? Paid membership is up 44%.
That's a good point. I wonder though if it would open the door to anti-trust and monopoly lawsuits then. I'm doubting it. Why would they point at their own assets, the idiots in power need a parachute to jump from the plane. The "scandal" will be understood by a handful of armchair economists like ourselves and few others. Most people won't give a crap., all we can all do for it is plan around the mess these dolts have made.
and The Markit thing...I thought that was a website traffic thing like Alexa (sp??).
Warning shot, but they're all in it. Just quells some anger from those who got burned. Looking busy
My prediction is some European commission members are soon going to be buying new country estates.
So while some post flow charts.
Dirty trick click bait story to some crappy site.
and in the meantime the out of hours futures fairy waves the magic wand and pushes silly negative futures back to where they belong again and all is well and the bad stuff was all a bad dream
Off with their heads!!!
Never will happen. The EU needs a billion or two to reinflate their fraudulent market, so the EU will just settle with a very small billion Euro fine and all is well again. Of course these banksters made hundreds of billions of Euro, so call it EU Mafia VIG. Nothing more to see here, no jail time, everyone gets a free pass for a mere 5% of their fraudulent profits while the EU gets more money to keep their own fraud going.
Rope burns on Dimon's and Blankfein's necks are in order.
thats a bit mild, dont ya think.
I mean, really, people are starving, and all your gonna do to them is string 'em up?
Dude, get creative...
draghi, a jesuit-goldman sachs alumn http://www.entendance.com/forums/viewtopic.php?f=7&t=788&p=16643#p16643
Let me guess, your movie Vatican Inc. was directed by 'Sal Sunstein' and funded by an 'israeli organization'.
Good be somtin or could be a gigantic whitewash like done oh so many times before by ridiculous punishment of just a small amount of money payed by the taxpayers anyways.
The cows are gone, the public has been screwed so many times they can't walk straight. Only a revolution could dump this garbage pile now.
Americans are too fat to revolt.
all it takes is not paying your tax, on masse ...Game Over Govt
...how easy could it be
That would be easy to prosecute. If we all buy physical PMs and start using them for local ocommerce that is hidden from taxation? Wouldn't that be hard to prosecute?
This already exists... it's called the cash society... and anytime I have encountered it through my profession, it's been a jaw dropping experience... businesses in BFE making obscene amounts of cash that probably goes unreported... hole in the wall places... always interesting.
Literally, there are people who for generations have worked for cash, are on no payroll, and need to purchase necessaries with cash... likewise, there are businesses that operate largely on cash receipts from these people...
The cash society grows directly proporionate to the taxing authority's increase in size, scope, and requirements.
And when they do finally wake up, we KNOW that the most vocal ZeroHedgers will attack them for doing so.
After all, popular protest against genocidal austerity and "liquidate everything!" politicians interferes with banker-gangsters getting paid.
Which means no hookers or dope. Can't have that.
After all, keeping the bankers in good dope is Uncle Sam's #1 agenda item.
Max K had a excellent show about this back in December
Go to 13.50
I guess we will get to see if this corrupt farce of a financial system is truly a global circus. Do Europeans settle for 5 cents on the stolen dollar like they do in America?
Yeah, but did you guys see Kate's dress!?!
Clinton got another one?
What colour is it?
My wife literally got pissed off I didn't understand what "the Royal Wedding" was, I assume kate is the bride. I thought it was a movie or play. People are down right desperate for a distraction.
You can tell your wife they've intermarried for centuries. ^__^
It's just a bunch of female Cinderella bullshit. I am told over and over I will never be able to understand it....even if I wanted to.
Tell me again, Goldman, how you were "hedged" against AIG exposure.
Lets truly hope this isn't a cover-up by the EU to find those banks not guilty.
It is very easy to do a fake investigation and say nothing is wrong.
Any "official" leaks of irrefutable evidence are very welcome, and spread those far and wide please!
If it smells like Limburger it probably is Limburger. But credit for at least bringing it to light. Not too many others even bother any more. Too focused on their critical roles as inflators.
This investigation is a good step, but a little too late, no?
This investigation took 2 years to announce...how long will it take to file criminal charges?
And then prosecute? Dimon will be 120 by the time this goes before a judge.
A year from now they'll announce a multi-million Euro settlement with no admissions of guilt paid by the taxpayers. This is SOP.
The best thing is that this whole charade is almost over.
Like TD said - we used to be the tin-foil or doomer brigade.
Notice how people aren't laughing anymore or the uncomfortable silences on CNBS?
Let alone people being accused of terrorism because they want fiscal common sence.
I think the loss of confidence is accelerating - and the latest poles show it, especially when people now longer tut-tut you when you refer to this as a depression or talk about the rank and blatent the manipulation in the markets, instead they grimley agree.
This stuff is so transparent now, but the circle can not hold forever.
Gold and silver are doing the talking and even if people don't believe us, they do believe in profits - either way they vote with their feet for different reasons, but all in the same direction.
The circle will last as long as people are educated by themselves and by the systems in place involve inner tubes and bananas
See how nicely USA stimulating effects on DJIA pattern follows those of Greek government on Athens index in 2009. The USA seems to be very close to Greece in some financial behaviour aspects. Hence the future may also be the same:
now that guys are falling all over themselves to buy credit, it is safe start poking to make sure the CDS guys don't construct something to blow up the world again
they are already working on it - SDS
Urban Redneck said -
Don't you mean SDR?
Special Drawing Rights.
Sovereign Debt Spreads
Technically CME calls them Sovereign Yield Spreads (SovYS), but that just disguises the function of being the next paper crap trend, and if they actually referred to them as SDS no one would buy them.
CDS - Private sector crap debt "protection"
SDS - Public sector crap debt "protection"
It wouldn't surprise me at all if the allegations are true - in fact I'd be surprised if they weren't. The motivation though of the EU is of course questionable considering the bad shape of their banks and their members fiscal situations - lets stop the one market that gives a direct picture of what investors percieve to be our credit risk.
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