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Meltdown Part 1: "The Men Who Crashed The World"

Tyler Durden's picture





 

When it comes to financial collapse documentaries, the public canon has one well-deserving Oscar Winner, "Inside Job", and one straight to HBO exercise in ass kissing and name dropping which shall remain nameless. Ironically, just like during the Arab Spring, it is that "dubious" Al Jazeera that shows US media how coverage of various matters, either geopolitical or financial, is done. Herein we present the first episode of Meltdown, in which we hear about four men who brought down the global economy: a billionaire mortgage-seller who fooled millions; a high-rolling banker with a fatal weakness; a ferocious Wall Street predator; and the power behind the throne. Considering we are about to experience the next Great Financial Crash, since nothing has changed at all since 2008, this should serve as a prominent reminder of all that happened, and a flashback to the future, of all that is certain to occur all over again.

From Al Jazeera:

The crash of September 2008 brought the largest bankruptcies in world history, pushing more than 30 million people into unemployment and bringing many countries to the edge of insolvency. Wall Street turned back the clock to 1929.

 

But how did it all go so wrong?

 

Lack of government regulation; easy lending in the US housing market meant anyone could qualify for a home loan with no government regulations in place.

 

Also, London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace.

 

All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.

Part 1 of "Meltdown"

 


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Thu, 09/29/2011 - 11:51 | Link to Comment Dumpster Fire
Dumpster Fire's picture

Wasn't that long ago that Al Jazeera was agitprop.  Funny how things change.

 

Hopefully Meltdown is long blow and hookers. 

Thu, 09/29/2011 - 11:54 | Link to Comment Clueless Economist
Clueless Economist's picture

Who plays Barney Frank, Chris Dodd and PAul Krugman?

Thu, 09/29/2011 - 12:02 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

Frank = Melissa Ethridge

Dodd = Whitey Bulger

Krugman = Ernest Borgnine

Thu, 09/29/2011 - 12:12 | Link to Comment Dumpster Fire
Dumpster Fire's picture

Fuck the haters, I'm with ya

Thu, 09/29/2011 - 15:51 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

The problem with this piece it is tries to wrap up very long and complicated story all neat and tidy. They want to make the ignorant general public think that everything has been uncovered, and here are ALL of the players and ALL of the plays that made the "world crash possible This is an evil, insidious deception. They should have called this "The Fall Guys Part 1".

Al Jezeera is running cover for the all of the other devils that are still yanking levers, filling their pockets, and passing it on to their spoiled brat progeny while the rest of the World burns.

Is every one that they point in this video guilty? Of course.

Are there A LOT more people that should be demonized and potentially prosecuted. Yes!!!!

Is Al Jezeera being groomed to be the "World Propaganda Ministry"? YES! Hello?!!!!!!

Thu, 09/29/2011 - 15:56 | Link to Comment trav7777
trav7777's picture

agree...the piece should be even tidier:  PEAK OIL DID THIS

Because that is the cause.  These men merely did the same shit as all before them.  The exponential math made their efforts 2x the previous, etc. in turn.

The thing went to hell when growth stopped.

The self-delusions and mental contortions people will go through to avoid the truth simply blow my mind.  Even on this board, there are 90% of the people who want to believe that if we could just prosecute some people or change the rules or go to a gold standard, somehow change the HUMAN equation, that everything could go back to happy joyjoy.  Reality has its own agenda.

Thu, 09/29/2011 - 18:12 | Link to Comment bid the soldier...
bid the soldiers shoot's picture

Some call it denial.

Depressions can be dealt with. Losing all your money can be dealt with. Even if your wife cuts off your penis in revenge, that can be dealt with.

But Peak Oil? That's a one-way ticket back to Neander Valley, Dude.

Sun, 10/02/2011 - 18:12 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Trav you moron, PEAK OIL is a hoax, just like Al Gore's "global warming".
Now go wash your teeth 4 times a day and be a good slave.

Thu, 09/29/2011 - 20:18 | Link to Comment NumNutt
NumNutt's picture

I have to call bullshit on this one. This report is pointing all the fingers at the banking industry, and yes I do believe the bankers are a bunch of evil bastards but they had gotten their marching orders from the US federal government. This report fails to mention the "Making Home Affordable" act signed into law under President Clinton, and pressed hard into service under Bush, with the Financial Services Oversite Committe (ran by Barney Frank and crew) cracking the wip.

The federal government was pushing the banking industry to make these loans, the banking industry was more then happy to oblige with the promises from the FED and the Federal Government that they had their backs if anything went wrong. Why do you think the FED is so quick to try and help out the big banks with tax payer dollars? If this fiasco was really the result of the private banking industry being greedy, the government would be screaming for jail time for these people. But that is never mentioned, no...don't want that...if that were to happen the truth may come out......then we would be asking to place our own elected officials in prison...the real crooks...

Thu, 09/29/2011 - 21:39 | Link to Comment NumNutt
NumNutt's picture

Wow someone junked me? I guess there is a fool out there that thinks the Federal Government is a bunch of nice guys that are only interrested in helping out the little guy, and doing only what is best for the entire country. Like to meet you, I have a bunch of swamp land in Florida I want to sell you......Probably one of the idiots sitting out front of the NYSE protesting....

Sat, 10/01/2011 - 14:39 | Link to Comment kubrick007
kubrick007's picture

numnutt

 

the banks have always controlled the governments, not the other way around. the legal system is circumvented with top-notch attorneys. i don't get how someone could be so naive to think that elections and elected officials have that much power. the annual pay of entire congress (~$93 mil) is less than 1 month income for the top hedge fund managers. money rules law.

Sun, 10/02/2011 - 23:47 | Link to Comment NumNutt
NumNutt's picture

Wow Kub-dick, I don't even know where to begin with the stupidity you have stepped into. Where you been the last 3 years? You saying the federal government doesn't set interest rates? Fannie and Freddie MAC doesn't control the home industry? The feds don't set regulations for mortgages? Doesn't tell banks all their rules to do business?!?!?!  I have worked in the banking industry for 16 years, and I can tell you there are all kinds of federal banking laws that they must abide by, from how much cash you can deposit or withdraw, to how to perform interstate electronic commerce. Banks employ rooms full of lawyers just to keep track of the federal regulations and make sure they are not breaking any federal laws. If the elected officials had been doing their job and enforcing existing laws, the country would not be in the current situation. I am pointing out the fact that to think these governments were caught by surprise by what has happened is stupid. They are currently in a CYA mode, they have seen what is coming and are now in the process of spreading bullshit in the hope it covers their ass so they don't end up against a wall some place. Wake up dip shit! If these guys control government why are they so scared of Ron Paul?

Sat, 10/01/2011 - 11:44 | Link to Comment Omen IV
Omen IV's picture

you are a FOOL and a TOOL - what about fraud end to end don't you understand?

the borrowers and the government had nothing to do with the bonuses and profits made by the banks and their minions as their motivation for fraud - CW (among many others) was cutting and pasting mortgage applications and documents by the 100's of thousands and sold by willing bankers who controlled the output of the rating agencies that is why BoA et al are getting sued for fraud far and wide and the AG's agreements with the banks are falling apart after schneiderman took his ball and went home

http://www.iwatchnews.org/2011/09/22/6687/countrywide-protected-fraudsters-silencing-whistleblowers-say-former-employees/page/0/1

http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783.html

you must be a troll for BoA -  enough with your anal vocalization!!!

 

Sun, 10/02/2011 - 23:20 | Link to Comment NumNutt
NumNutt's picture

Ah Oman you fucking dip shit. Nothing would make me happier then to see BAC take a huge shit and go belly up. But to think these guys are running the show is complete stupidity, it would be like saying the multi million dollar athlete player is controlling the game he plays in, and the referees do nothing. The truth is the Feds lay down the rules, the Fed determines the base lending rate that banks can lend each other. The fed determines all the rules that the banking industry must abide by. Then when the bank makes a profit the feds take their cut.

I was pointing out the fact that the producer of this report failed to include a very important part of the over all picture. Actually if you watch this and believe 100% what they are telling you, it would appear that the various governments had nothing to do with our current problems. I call bullshit on that! TPTB set the rules, and were there every step of the way when all this shit was going down. To see them as a helpless victim that was caught off guard by the evil banksters is complete stupidity. From the top of the banking industry and to the high offices of government, all these assholes where to busy stuffing their pockets full of cash to pause for a minute and consider the consequences for their actions. 

Don't be mistaken for one moment that these two groups of people don't talk to each other. They do on a regular basis and the topic is not how they are going screw each other, it is how they are all going to screw us. You call me a troll for these assholes, well all I can say is fuck you! I am a troll, but not a troll for the banking industry, I am a troll for the private sector tax payer that has been left standing out in the rain, and the cold, with an empty bag wondering where I went wrong.

Thu, 09/29/2011 - 12:23 | Link to Comment LedMizer
LedMizer's picture

Capt. Binghamton: Commander, how would you and your men like two weeks with nothing to do but play gin rummy, go surfing, have luaus with steel drum bands, dancing girls, hmm? 
Lieut. Comdr. Quinton McHale: Two whole weeks? Woo hooo, oh that'd be a wonderful change sir. Yes sir. 
Capt. Binghamton: Knock it off McHale. That's what you do every week. 

Thu, 09/29/2011 - 16:43 | Link to Comment MarkTwain00
MarkTwain00's picture

Dodd = Bobcat Goldthwait(in a fatsuit)

Thu, 09/29/2011 - 12:04 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

 This is just pure propaganda of the lowest kind. For those of you with any self-respect, here is some background reading on the benefits of monetary and fiscal stimulus written by renowned Princeton economist Alan Blinder and Mark Zandi of Moody's:

http://www.princeton.edu/~blinder/End-of-Great-Recession.pdf

The paper documents how our government and Federal Reserve SAVED this country from total destruction during the great depression. And please READ the article before resorting to the usual libertarian ad-hominem attacks.

Thu, 09/29/2011 - 12:05 | Link to Comment mayhem_korner
mayhem_korner's picture

 

 

princeton.edu = pablum of the highest order

Thu, 09/29/2011 - 12:09 | Link to Comment tiger7905
tiger7905's picture

Really stupid reporters comments on gold...  

http://goldandsilverlinings.com/?p=1667

 

Thu, 09/29/2011 - 13:35 | Link to Comment sqz
sqz's picture

MillionDollarBonus is just trolling you guys. Or rather he's a regular who presents facts, or sometimes jokes, as if he's a troll. It's quite funny most of the time, except unless you're a regular or very careful reader, it would be hard to pick up, I guess :)

Thu, 09/29/2011 - 14:07 | Link to Comment Imminent Crucible
Imminent Crucible's picture

MillionDollarBonus=astroturfing from the Treasury Elf.

Thu, 09/29/2011 - 17:10 | Link to Comment mayhem_korner
mayhem_korner's picture

We know who he is, newbie.

Thu, 09/29/2011 - 12:10 | Link to Comment oldmanofthesee
oldmanofthesee's picture

Are you nuts? Paulson (Bush) gave almost a trillion in TARP to their banking buddies, and AIG. AIG got the first check, then the squid got the first check from AIG, for just under $20 billion to cover trading losses in London. Five months later, all the major banks returned most of the TARP funds when they learned that Timmy would dictate their salary and bonuses. These pricks should be drawn and quartered. 

Thu, 09/29/2011 - 12:11 | Link to Comment Smiddywesson
Smiddywesson's picture

Sure, and you read FDR's Folly

Thu, 09/29/2011 - 12:15 | Link to Comment FMR Bankster
FMR Bankster's picture

Worthless bulls**t. Papering over problems and bailing out criminals only encourages more of the same behavior. If they had let it crash it would have been more painful short term but we'd be in recovery by now. I listened to this crap from Ivy league morons for too many years on Wall street. Return to sound money (gold and silver) and give the middle and lower income folkes a shot again.

Thu, 09/29/2011 - 14:02 | Link to Comment nhr215
nhr215's picture

Well that is one opinion. You could make a case that the crash would have been steep and short. You could also make the case that the entire financial system would have colappsed, with runs on banks (in 2008 there were already runs on money-market accounts.... how quickly everyone forgets how close to total destruction we were), massive wealth destroyed, savings of a nation eliminated, dollar destroyed, etc. etc. There is a much better case to be made that this outcome is preferable. I'm not happy about it either, but having lived in countries with real economic collapses (such as Argentina) and witnessed that first hand, let me tell you there are no guarantees that the collapse will be short and sweet....

I love how of course you went directly to adhominem attacks. So if a Nobel-prize in economics, ivy league phd, authoring textbooks on macroeconomics, if none if this qualifies as expertise, then who are the experts in your opinion? Would love to hear this. Some day-trading morons whole trolls this board? Alan Binder is a reputable economics of the highest degree. Have you read any of his work? Dear arm-chair economicts: shut the fuck up.... Your opnion has no value.

Thu, 09/29/2011 - 14:10 | Link to Comment Imminent Crucible
Imminent Crucible's picture

I've got news for you: The "entire financial system" is collapsing anyway.

Only, this way it costs far more and taxpayers pick up the entire tab while the bankster crooks walk with huge payouts for massive felony fraud.

Twit.

Thu, 09/29/2011 - 12:18 | Link to Comment Arthor Bearing
Arthor Bearing's picture

"HOW THE GREAT RECESSION WAS BROUGHT TO AN END" I will now write an essay called "How I fucked ten supermodels at the same time." That will be more enjoyable and worthwhile reading, and just as believable.

You are right that the Fed's actions in 2008 prevented total destruction in this country from occurring in that year. Nobody can prove, however, that total destruction was prevented entirely. And, in my opinion and as has often been stated on this site, the Fed's policies merely put off the damage and made the problem worse for the people who do eventually have to deal with it.

As a guy in my mid-20's I don't appreciate that one bit!

Thu, 09/29/2011 - 12:39 | Link to Comment LoneCapitalist
LoneCapitalist's picture

Tarp did not solve the banking crisis. It was too small. It was the repeal of the mark to market rule that swept the problem under the rug where nobody would trip over it.

Thu, 09/29/2011 - 13:13 | Link to Comment TaxSlave
TaxSlave's picture

Don't forget the Fed "injections" (lol, is that like a protein injection?) that dwarfed the TARP.  Without any permission needed, from ANYBODY.

They didn't save anything.  They insured its demise.  And that's why mark to market had to go.  All banks are insolvent, walking dead.

Thu, 09/29/2011 - 13:26 | Link to Comment robertocarlos
robertocarlos's picture

I wrote that all Canadian banks are insolvent years ago on the comments section of the Globe and Mail. I was thumbed down. Only teh other world banks are insolvent according to canadians. We are special. Must be all that gold we have in reserve someplace.

Thu, 09/29/2011 - 12:24 | Link to Comment Cynical Sidney
Cynical Sidney's picture

economists? you mean those who can't get a real nobels prize?  moodys? haha fail

great recession brought to an end? ok sure you just wait...

 

Thu, 09/29/2011 - 14:05 | Link to Comment nhr215
nhr215's picture

haha! yes! attack those with signifiant more expertise in this subject area that you? You might as well say "medical doctors, you mean people that couldn't get a real doctorate?" You mock something that is way beyond your comprehension. Talk to me after you've done post-doc level work in statisitics and mathematics, alright?

 

PS - I'm not an economist, just tired of idiots with zero expertise, zero knoweldge, zero education, trashing those who do.

 

Fri, 09/30/2011 - 02:39 | Link to Comment Cynical Sidney
Cynical Sidney's picture

breathe a little nhr215. 

insult my intelligence if you must, but please explain to me how the great recession had ended? and what are we going to do with the mounting public debt?

who's really trashing the economists? i argue it's economists from princeton and moody's who have brought shame on their profession, their actions speak much louder than words. I believe it's these princeton and moody economists who have zero expertise, zero knowledge, decades of education and bookreading up in their ivory tower, they don't know what's goes on in main st., they don't understand current social issues, instead they get in cahoots with banksters defrauding public funds;

As far as MDB's argument is concerned, i think it's a pretty accurate description when kayman said it's analogous to thanking the arsonist for calling the fireman after the fact.

ps. I don't mind if you wish to defend MDB's comments, but I'm entitled to an opinion please respect that.

Mon, 10/03/2011 - 09:15 | Link to Comment criticaster
criticaster's picture

Ah yes... the dismal science.

Why are we not allowed to say to someone with a PhD, 'postdoc experience in maths and statistics' and even a Nobel memorial prize (not a proper Nobel prize): 'You are talking horse shit.'

Just because someone has advanced qualifications does not immunize them from talking crap. They can just do so far more eloquently, which makes them potentially more dangerous. And the more people believe that having a PhD means you breath different air, the more vulnerable they are.

And that, I am afraid, is coming from someone who does have 'postdoc experience in maths and statistics'.

Thu, 09/29/2011 - 12:31 | Link to Comment Coldfire
Thu, 09/29/2011 - 12:32 | Link to Comment Soul Train
Soul Train's picture

I read it and it is full of misrepresentations and bias.

What else could be expected from the authors? They won't say anthing to jeapordize their jobs.

And the Bernak is a Princeton ex Professor - duhhhhhhhhhhhhhhhhhh.

Thu, 09/29/2011 - 14:08 | Link to Comment nhr215
nhr215's picture

And what does that have to do with anything? Are you insinuating that the entire analysis was done fraudlently purely with the intent of covering the behind of a former professor in their school????? Clearly you have had zero experience in academia..... That would be great way to end a career. Alan Blinder is an economist with an stellar repuation in the field and much respect.

Thu, 09/29/2011 - 21:05 | Link to Comment StychoKiller
StychoKiller's picture

The purpose of a system is what it does.

Academcians only work to justify their own parasitic existence.

Thu, 09/29/2011 - 12:45 | Link to Comment Dapper Dan
Dapper Dan's picture

MDB,  all the graphs and charts had the following.

Sources: Federal Reserve, Treasury, FDIC, FHA, Moody’s Analytics

The table for FDIC losses ($75 Billion) appears light.

I will get Karl D to look into it.

 

 

 

Thu, 09/29/2011 - 12:53 | Link to Comment Henry Chinaski
Henry Chinaski's picture

READ the article before resorting to the usual libertarian ad-hominem attacks

you are stupid troll

Thu, 09/29/2011 - 12:56 | Link to Comment SWRichmond
SWRichmond's picture

At least now we know the purpose of RIck Perry's presidential campaign: anti-inflationary propaganda.  Strong dollar policy, bitches!

 

"Ben Bernanke no longer would be the Federal Reserve chairman and the central bank would be out of the money-printing business under a Rick-Perry-run White House, the Texas governor told CNBC."

Thu, 09/29/2011 - 14:00 | Link to Comment Bicycle Repairman
Bicycle Repairman's picture

Parry is just striking a pose.  The field of candidates is crowded and he is looking to stand out.  He is a poseur.

Thu, 09/29/2011 - 13:20 | Link to Comment Kayman
Kayman's picture

MillionDollarBonus_

MBD- you make Goebbels blush. 

 Your argument is akin to thanking the arsonist for calling the fire department after the house has burned to the ground.

P.S. Are you back Leo ?

Thu, 09/29/2011 - 13:24 | Link to Comment Logans_Run
Logans_Run's picture

*.Wanger is that you? We miss you!

Thu, 09/29/2011 - 13:38 | Link to Comment Comay Mierda
Comay Mierda's picture

this must be on your bookshelf right next to Mein Kampf

Thu, 09/29/2011 - 19:13 | Link to Comment EvlTheCat
EvlTheCat's picture

ROFL

Thu, 09/29/2011 - 14:08 | Link to Comment Ponzi Unit
Ponzi Unit's picture

MillionDollarBonus_: Pound sand up your ass.

Thu, 09/29/2011 - 21:07 | Link to Comment StychoKiller
Thu, 09/29/2011 - 14:16 | Link to Comment 11b40
11b40's picture

There you are, again, $millionbonus, taking a break from the Comedy Channel.  Welcome back.  Your humor is always appreciated.

Thu, 09/29/2011 - 16:48 | Link to Comment MarkTwain00
MarkTwain00's picture

Saved the country during the great depression?????

 

you must be outta your god damn mind son

Thu, 09/29/2011 - 16:54 | Link to Comment I dont belong here
I dont belong here's picture

The Federal Reserve caused the great depression in large part by contracting the money supply. Per your request, I have refrained from calling you a dumb-ass. Oops, oh well.

Thu, 09/29/2011 - 16:54 | Link to Comment I dont belong here
I dont belong here's picture

The Federal Reserve caused the great depression in large part by contracting the money supply. Per your request, I have refrained from calling you a dumb-ass. Oops, oh well.

Thu, 09/29/2011 - 16:57 | Link to Comment I dont belong here
I dont belong here's picture

The Federal Reserve caused the great depression in large part by contracting the money supply. Boom and bust cycles are largely created by expanding and then contracting the money supply. It is during the bust periods that wealth is more quickly transferred into the hands of the elite.

Per your request, I have refrained from calling you a dumb-ass. Oops, oh well.

Thu, 09/29/2011 - 19:38 | Link to Comment EvlTheCat
EvlTheCat's picture

Kind of funny that the Federal Reserve saved the country from total destruction during the Great Depression, and then apologizes for starting it..  LOL

The brilliance of Friedman and Schwartz's work on the Great Depression is not simply the texture of the discussion or the coherence of the point of view. Their work was among the first to use history to address seriously the issues of cause and effect in a complex economic system, the problem of identification. Perhaps no single one of their "natural experiments" alone is convincing; but together, and enhanced by the subsequent research of dozens of scholars, they make a powerful case indeed.

For practical central bankers, among which I now count myself, Friedman and Schwartz's analysis leaves many lessons. What I take from their work is the idea that monetary forces, particularly if unleashed in a destabilizing direction, can be extremely powerful. The best thing that central bankers can do for the world is to avoid such crises by providing the economy with, in Milton Friedman's words, a "stable monetary background"--for example as reflected in low and stable inflation.

Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again.

Remarks by Governor Ben S. Bernanke
At the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois
November 8, 2002

ad-hominem attacks?  Who needs those?

Fri, 09/30/2011 - 05:55 | Link to Comment koperniuk666
koperniuk666's picture

we wont know if they have saved the world until this mess is all over ; and there is NO sign whatsoever that  it is over. 

Its getting worse if you ask me.......

 

Nice paper though. I particularly liked the font.

Sat, 10/01/2011 - 11:22 | Link to Comment jekyll island
jekyll island's picture

I love it!  The ARRA dufuses spent $4 million on signs to publicize the capital outlay.  That's how the government rolls, why waste a little when you can waste alot?  

By the by, Gov't and FR "saved" the country from the mess they created.  Everyone knows the politicians and FR are controlled by the banking elite who hold the purse strings.  

 

Thu, 09/29/2011 - 15:41 | Link to Comment Hugh_Jorgan
Hugh_Jorgan's picture

.

Thu, 09/29/2011 - 11:55 | Link to Comment NotApplicable
NotApplicable's picture

Like nearly all media outlets, it still is. That they use the truth, doesn't change their intent, but merely the direction of their perception.

Thu, 09/29/2011 - 12:07 | Link to Comment Shocker
Shocker's picture

Its pretty sad, that the economy is a mess. Then we make movies about how "some people" crashed this world, like its some joke.

The ones that created the problem will never be responsible, they will just blame it on the lower guy.

 

http://www.dailyjobcuts.com

/

 

Thu, 09/29/2011 - 12:56 | Link to Comment Henry Chinaski
Henry Chinaski's picture

Maxine Waters killed it for me and I had to quit watching.  If you have a strong stomach, watch the above video starting at 6:20.  Then watch this one starting at 5:04. 

http://youtu.be/_MGT_cSi7Rs

 

Thu, 09/29/2011 - 21:11 | Link to Comment StychoKiller
StychoKiller's picture

Maxine Waters is living proof that People elect the Govt THEY deserve!

Thu, 09/29/2011 - 12:18 | Link to Comment Silver Bug
Silver Bug's picture

Its all coming full circle. The meltdown is just truly beginning, Eric Sprott was just recently talking about how the worst is yet to come. Good to see some good quality shows showing the truth for a change.

 

http://ericsprott.blogspot.com/

Thu, 09/29/2011 - 11:49 | Link to Comment ZeroPower
ZeroPower's picture

Nice, but this actually from CBC, was first broadcast last year i believe:

http://www.cbc.ca/doczone/meltdown/about.html

Thu, 09/29/2011 - 11:57 | Link to Comment prains
prains's picture

still have it on pvr from last year, CBC aired this well before SmellY'smeera. a real WTF is going on down there moment. a must see

Thu, 09/29/2011 - 11:51 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Please, not too loud. The first one who speaks the truth gets suicided in the Jacuzzi. The second one gets a smart bomb up his as..................

Thu, 09/29/2011 - 12:10 | Link to Comment LeBalance
LeBalance's picture

guess you were the second one.  that had to hurt.

Thu, 09/29/2011 - 12:19 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

No, I was the first.

Signed,

The Ghost of Cognitive Dissonance

:>)

Thu, 09/29/2011 - 13:05 | Link to Comment mick_richfield
mick_richfield's picture

I'm so depressed that I am unjustly criticizing the Fed all the time that I have decided to tie my hands behind my back, shoot myself in the back of the head four times, write a suicide note, and then drag my body to a remote location.

 

 

Thu, 09/29/2011 - 11:49 | Link to Comment Ahmeexnal
Ahmeexnal's picture

No mention of Al Gore in that documentary.

Thu, 09/29/2011 - 11:57 | Link to Comment Bring the Gold
Bring the Gold's picture

What did Al Gore have to do with it? Was he involved in Glass-Steagall repeal or something? I honestly don't know and am curious why you bring him up.

Thu, 09/29/2011 - 12:51 | Link to Comment nope-1004
nope-1004's picture

Cuz Gore invented the intermanet.  Member??

 

 

Thu, 09/29/2011 - 13:40 | Link to Comment Comay Mierda
Comay Mierda's picture

NAFTA is a good deal, Larry. It will increase our standard of living and create tons of jobs

http://www.youtube.com/watch?v=GhwhMXOxHTg

Thu, 09/29/2011 - 20:37 | Link to Comment Bring the Gold
Bring the Gold's picture

Hmm, lots of junks and I was merely asking a question. If dude had said "Clinton wasn't mentioned" that would be one thing. Al was hardly the power behind the throne in the Clinton admin that was Rubin. So again what did Gore have to do with anything? As far as I can tell he hasn't done much of anything other than try and push the cap and trade scam which has thus far been stymied. So please illuminate how again is Gore responsible? I don't like the guy, but it doesn't seem like he had much pull in that admin compared to Greenspan, Rubin, Clinton et al.

Thu, 09/29/2011 - 11:59 | Link to Comment johnnymustardseed
johnnymustardseed's picture

 he was cheated out of being president by Bushie who did crash the world

Thu, 09/29/2011 - 12:19 | Link to Comment SheepDog-One
SheepDog-One's picture

LOL, what about CLinton behind him? NAFTA GATT shipping all our jobs and production overseas....ITS ALL THE SAME CLUB!

Thu, 09/29/2011 - 12:25 | Link to Comment Smiddywesson
Smiddywesson's picture

That's a pretty narrow view of a 100 year struggle to enslave you.  Eisenhower warned about the industrial military complex, was he wrong?  Discretionary spending took off under Reagan, and the trend line didn't change under Clinton either.  All the increased revenue from opening our borders to trade were squandered.  I don't want to argue whether Obama outspent Bush (he has) or not, he merely continued the trend towards the destruction of the country. 

How many times do you have to have the football pulled away?  Our real problems are bipartisan issues and those issues have not been resolved because of one little reason:

The banksters have their minions on both sides of every issue, so no matter who wins the battle, they alway win the war.

Thu, 09/29/2011 - 12:31 | Link to Comment Cruel Aid
Cruel Aid's picture

Right, the founding progressive fathers are dead and in hell, but the struggle goes on.

Thu, 09/29/2011 - 13:03 | Link to Comment TexasAggie
TexasAggie's picture

I don't want to argue whether Obama outspent Bush (he has) or not, he merely continued the trend towards the destruction of the country. 

Do you mean over Bush's 8 yrs or BHO's 2.75 yrs?

The budgets (CRs) are much higher than ever under Bush. Remember, appropriations are expenditures, and BHO has used the stimulus dollars to continue the spending, they never went back to the lower levels. Remember in the Fed Gov, you spend all you get and never return any funds and you always ask for more.

 

Thu, 09/29/2011 - 13:17 | Link to Comment TaxSlave
TaxSlave's picture

It's a straight line increase if you use a logarithmic scale.  Compound disinterest.

Thu, 09/29/2011 - 11:50 | Link to Comment Ghordius
Ghordius's picture

"London was competing with New York as the banking capital of the world. Gordon Brown, the British finance minister at the time, introduced 'light touch regulation' - giving bankers a free hand in the marketplace"

Interestingly refreshing perspective, never heard it this way. A "Regulation War"? lol

Thu, 09/29/2011 - 11:59 | Link to Comment AnAnonymous
AnAnonymous's picture

This wont please for sure all the US citizens who are in the cheap propaganda streak: Crown world order.

It is a US world order. Causes of current state of the world are to be found in the US for the many of the state features.

Thu, 09/29/2011 - 12:14 | Link to Comment Smiddywesson
Smiddywesson's picture

Interestingly refreshing perspective, never heard it this way. A "Regulation War"? lol

Not new at all.  That's the argument banks always use to get what they want.  We need this or that regulation removed so we can remain competitive.  When they remove the regs, everything blows up.  This is not an American thing.  It was noted in This Time It's Different, a review of 800 years of financial mismanagement.

Thu, 09/29/2011 - 13:19 | Link to Comment TaxSlave
TaxSlave's picture

How about, "We need this or that regulation put in place to solidify our monopoly."

Let's just start with legal tender laws and central economic planning by the money-printers and go from there.

 

 

Thu, 09/29/2011 - 14:50 | Link to Comment sqz
sqz's picture

Are you joking, Ghordius? This is ancient news unless you are referring to the naming - which I have yet to check since I have not watched the video yet. It's even covered in "Inside Job" which is very very finance-lite fare and mostly covers the people angle. This is sometimes known as regulatory arbitrage and it dates back to at least the 17th century to the tax and political haven of Switzerland.

All the financial centers in modern age are continually fighting to deregulate, thus encouraging capital their way, as well as minimising and slowing the take up of new regulation. This is especially the case in non-diversified economies like the UK which have systematically greatly undermined or elimininated many sectors of their former empire economy in favor of financial services and services in general.

Thu, 09/29/2011 - 11:51 | Link to Comment Gubbmint Cheese
Gubbmint Cheese's picture

There is a certain irony involved when Al Jazeera runs a story about the actions of a few US men that created a crash that had such a dramatic and resonating impact on the entire world.

 

Thu, 09/29/2011 - 15:22 | Link to Comment 11b40
11b40's picture

Yes, so now we have an international televised propaganda competition between Al Jazeera and our corporate media. 

Hard to know which is least trustworthy.

Thu, 09/29/2011 - 21:16 | Link to Comment StychoKiller
StychoKiller's picture

"Question Authority."

Don't trust anyone over 30...oh, wait.

Thu, 09/29/2011 - 11:51 | Link to Comment JW n FL
JW n FL's picture

 

 

Peter Schiff: Ruined economy, artificial dependency

Uploaded by on Sep 28, 2011

RT talks to Peter Schiff, president at Euro Pacific Capital about the state of economy in US.

http://www.youtube.com/watch?v=Gzjnc7lXcC8

Thu, 09/29/2011 - 11:55 | Link to Comment JW n FL
JW n FL's picture

 

 

http://www.youtube.com/watch?v=YtjbZl6ZwkQ

Keiser Report: The Greek Depression (E190)

Uploaded by RussiaToday on Sep 29, 2011

This week Max Keiser and co-host, Stacy Herbert, ask why wallstreet protesters are maced in the face for merely walking on the sidewalk while JP Morgan's CEO can throw a tirade in the face of regulators and a central banker without being pepper-sprayed. They ask why Vince Cable doesn't pack some pepper spray.

 

Thu, 09/29/2011 - 11:51 | Link to Comment doomandbloom
doomandbloom's picture

well it was the men...but before that it was the dream which was created.....that everyone bought into

the only problem with dreams is that eventually we have to wake up...

Thu, 09/29/2011 - 11:59 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

It's called The American Dream... because you have to be asleep to believe it.

- G Carlin.

Thu, 09/29/2011 - 12:12 | Link to Comment doomandbloom
doomandbloom's picture

:-)
Unfortunately...its no longer only an American Dream...this dream has been sold to the world....

Thu, 09/29/2011 - 12:36 | Link to Comment falak pema
falak pema's picture

Unfortunately...its no longer only an American Dream...this dream has been sold to the world....

The rest of the world considers having been sold a nightmare...not a dream. Just a play on words that sees the world upside down, inside out. 

Thu, 09/29/2011 - 12:51 | Link to Comment Manthong
Manthong's picture

Those kids who are so into horror movies are really going to be tripping hard as the American dream morphs into the Pelozobamian nightmare.

Thu, 09/29/2011 - 11:55 | Link to Comment lolmao500
lolmao500's picture

http://www.pippamalmgren.com/77.html

  • The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up.

 

Who is Pippa Malmgren?

http://www.economicpolicyjournal.com/2011/09/super-hot-insider-reports-g...

She was Special Assistant to the President for Economic Policy on the National Economic Council (President Bush). She was also a member of the President's Working Group on Financial Markets, aka, the Plunge Protection Team. Her client list includes every elite corporate firm in the world

 

Doom we can believe in. 

 

Also very good :

http://www.businessinsider.com/a-massive-union-just-voted-to-side-with-t...

 

A Massive Union Just Voted To Side With The Wall Street Protesters

According to Daily Kos, The New York Transit Workers Union (TWU) voted to support the Wall Street Protestors at their meeting last night.

A member of TWU Local 100 told a reporter that they would join the protest Friday at 4PM.

Here's more about them from their website:

The TWU has four main divisions: Railroad; Gaming; Airline; Transit; and Utility, University and Service. The Union has 114 autonomous locals representing over 200,000 members and retirees in 22 states around the country.

Occupy Wall Street has been picking up some decent support from unions in the past few days. Yesterday we reported that the Teamsters Union declared their support for protestors, and we also found out that the United Pilots Union had members at the protest demonstrating in uniform.

Today we learned the Industrial Workers of the World put a message of support on their website as well.

Thu, 09/29/2011 - 11:58 | Link to Comment NotApplicable
NotApplicable's picture

So, unions are starting to co-opt the protest? This might actually get interesting.

Thu, 09/29/2011 - 12:13 | Link to Comment Clueless Economist
Clueless Economist's picture

Unions are full of douchebag losers

Thu, 09/29/2011 - 13:07 | Link to Comment linrom
linrom's picture

Teamsters supported Reagan, Bush and every other anti-union Republican.  Cops, Firemen and Teamsters are made up of conservative clans of fascists. These guys would make perfect Nazi unionists.  Every progressive should oppose ALL unions, they do not support wage equality. They are fascists.

Thu, 09/29/2011 - 13:22 | Link to Comment TaxSlave
TaxSlave's picture

 

Hey, stop it with the name-calling.  They're harmless guild socialists, is all.

 

 

Thu, 09/29/2011 - 21:19 | Link to Comment StychoKiller
StychoKiller's picture

Also, useful idiots.

Thu, 09/29/2011 - 13:21 | Link to Comment Shell Game
Shell Game's picture

I see dead links..

Thu, 09/29/2011 - 11:55 | Link to Comment Robslob
Robslob's picture

Was Uncle Warren given an honorable mention?

Riveting!

Thu, 09/29/2011 - 11:57 | Link to Comment SheepDog-One
SheepDog-One's picture

Its certain to soon happen all over again? I simply cant believe that, all is well and we've got QEnth...Im going back to sleep soon as I hit this Etrade baby 'buy' button a few more times.

Thu, 09/29/2011 - 12:00 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

Good call on no QE3 announcement at the latest FED meeting. Are you now predicting they will eventually initiate another round of easing? or just the carrot dangling on the stick to tease wallstreet?

Thu, 09/29/2011 - 12:08 | Link to Comment SheepDog-One
SheepDog-One's picture

Carrot and stick I think.

Thu, 09/29/2011 - 11:56 | Link to Comment mayhem_korner
mayhem_korner's picture

All this, and with key players making the wrong financial decisions, saw the world's biggest financial collapse.

 

So far...

Thu, 09/29/2011 - 11:56 | Link to Comment Nate H
Nate H's picture

cmon -this, Inside Job, etc are very entertaining and tell an interesting part of the story - but these are hardly the men that 'crashed the world' - there are millions of such men over last couple generations. There is no single group to blame - we gorged on the magic of fossil fuels and made up new abstract rules as the juice waned - that aspect at least is human nature - who reading this is at least not partially to blame??

Thu, 09/29/2011 - 11:58 | Link to Comment SheepDog-One
SheepDog-One's picture

Alright settle down there Great Humongus.

Thu, 09/29/2011 - 12:00 | Link to Comment NotApplicable
NotApplicable's picture

No single group? I bet every one of the top .1 percenters are either directly guilty, or profited somehow while turning the other cheek.

Thu, 09/29/2011 - 12:03 | Link to Comment SheepDog-One
SheepDog-One's picture

Yes we all with our new $1 million dollar Buggati's are to blame....wait what?

Thu, 09/29/2011 - 12:20 | Link to Comment Dumpster Fire
Dumpster Fire's picture

One Gee and two Tees you fucking peasant.

 

Sorry...I'm long NFLX and it's been a trying morning.

Thu, 09/29/2011 - 12:11 | Link to Comment SheepDog-One
SheepDog-One's picture

NateH-- So youre saying this is all due to 'fossil fuels' being all used up? And that its 'our' fault and the 'juice' has now waned? No I dont agree I dont blame myself for banksters designing $1 quadrillion in fake trading derivatives, I DIDNT do it!

And theyve apparently got PLENTY of oil to run 1 mile per gallon tanks and warships and jets and attack helicopters dropping $1 million dollar smart bombs all over the world at a wildly escalating rate so I dont buy 'all our problems are caused by your 20 gallons per week gas useage' at all.

Thu, 09/29/2011 - 13:39 | Link to Comment Dapper Dan
Dapper Dan's picture

This is the way I see it.

Oil is at war with Debt.

(the war machine is at war with the usury establishment)

one of the bigger battles happened in september, 2001

Thu, 09/29/2011 - 12:15 | Link to Comment Bring the Gold
Bring the Gold's picture

Sure and people in occupied Poland who did business with the Germans were to blame there too right? Sometimes it IS the High Command that is to blame much as they love to slough off the blame on small fry.

Thu, 09/29/2011 - 21:22 | Link to Comment StychoKiller
StychoKiller's picture

They were "just following orders!"

Thu, 09/29/2011 - 12:18 | Link to Comment AnAnonymous
AnAnonymous's picture

There is no single group to blame - we gorged on the magic of fossil fuels and made up new abstract rules as the juice waned - that aspect at least is human nature - who reading this is at least not partially to blame??

:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

Made me laugh. Typical US citizenism.

Very often, here, you read US citizens lambasting other US citizens for applying this little US recipe: something is universally true. Once you removed all the false cases.

Example: No body was killed. Once you removed all the casualties, it is true.

Bankers, breast fed with US citizenism, are doing this a lot. They only register profits. Once they have removed all the losses.

Now, about 3 billion human beings are out of the use of modern sources of energy (including petroleum oil)

Lets apply the US citizen eternal nature trait:

There is no single group to blame. Once you have removed the three billion people who are not consuming oil (other than toxic waste from oil exploitation being dropped on them), it is true.

Even better: the use of equality.

Just picture this: a guy who would just use a computer once in his life to read the comment. This move, peanuts in the oil consumption process, qualifies him by US standards on an equal foot with US citizens.

He used a computer once in his life to read one comment about how oil consumption has been a universal story for humanity and that pico oil consumption qualified him as an equal to your typical US citizen.

Equality in crime is when US citizens want to hear about equality. Else they favour much inequality.

So here, thanks to US citizens, we have learned it is human nature to consume oil that much, even though half of humanity are out of it but hey... Who cares?

US world order.

Thu, 09/29/2011 - 13:07 | Link to Comment s2man
s2man's picture

What?  Oh well, nevermind.

One correction, AA.  We in the U.S. are no longer citizens.  Citizens have rights.  We are now called mearly the "people of the U.S.".  I can't remember the last time a politician called us citizens.

Thu, 09/29/2011 - 13:25 | Link to Comment TaxSlave
TaxSlave's picture

 

 

 

Cynizens.

 

 

Thu, 09/29/2011 - 15:20 | Link to Comment Cathartes Aura
Cathartes Aura's picture

"citizens" was replaced by "consumers" during the RayGun era, and lo ! they did follow their re-branding off the cliff. . .

Sat, 10/01/2011 - 03:36 | Link to Comment bid the soldier...
bid the soldiers shoot's picture

Seriously.

Where did you learn English?

Minsk?

Thu, 09/29/2011 - 11:58 | Link to Comment ali-ali-al-qomfri
ali-ali-al-qomfri's picture

Have you ever had that dream you were falling off a cliff onto sharp rocks, then you wake up hanging over the side of your bed with your face about to fall into the goat’s milk?

Thu, 09/29/2011 - 12:17 | Link to Comment Bring the Gold
Bring the Gold's picture

Substitute goat's milk for vomit reeking of Chrystal and you might get a bit more resonance with ZH readership.

Thu, 09/29/2011 - 11:59 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

Between Al's, I find Jazeera more credible than Gore.

Thu, 09/29/2011 - 12:01 | Link to Comment Moe Howard
Moe Howard's picture

The housing issue was not a "lack of regulations"; it was first started by government PC agitation forcing the banks to loan money to credit risks at the same rate as sound loans, followed by the banksters eureka moment when they realized they could pass these loser loans on to others at a sweet profit. Combined with the Fed low interest rates there was nothing to stop the tulip bulb market until gasoline jumped up in price, starting the dominoes falling.

The regulators were not enforcing the regulations, they were beating off to porn, totally captured by the industry they are regulating.

Like immigration laws, financial laws have to be enforced to be considered as a regulation on the market or process.

They are not.

Thu, 09/29/2011 - 12:23 | Link to Comment AnAnonymous
AnAnonymous's picture

it was first started by government PC agitation forcing the banks to loan money to credit risks at the same rate as sound loans, followed by the banksters eureka moment when they realized they could pass these loser loans on to others at a sweet profit.

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

One guy postulated once that the one distinguishing feature for humanity was the capacity to hold to contradictory patterns.

Unsurprisingly, this guy was a US citizen so his assumption was false as primitives are extremelly aware of reality.

But still, as often, when supposedly speaking of others, US citizens speak about themselves so what do we have here?

We have the statement that the US government coerced the banks to act in a way when the common stream is to state the bankers are the real masters, TPTB or something.

Everything works to kick the can and avoid facing the fact that the US was behind this mess.

The US government, the US banks have only acted to further the US citizens best interests, which encompassed being able to build and own a house in the country that has become the hub of the world resources consumption.

Thu, 09/29/2011 - 12:46 | Link to Comment pods
pods's picture

Sorry, the whole game is about expanding debt.

Whether or not it benefits any of the "small people" is of little consequence.  For the system requires debt expansion.

pods

Thu, 09/29/2011 - 12:24 | Link to Comment Woodyg
Woodyg's picture

i hope you're not trotting out the tired ' the poor people caused it' bs.

If the poor peple getting loans they couldn't afford created the 2008 crash then explain how the Entire Residential Mortgage Market is less than 12 trillon and we've bailed out the banks for more than that.

Meaning we could have paid off Every Single Mortgage in America with less than the Fed's handed out.

And that's every single mortgage not just the underperforming or foreclosed ones.

The problem is Criminality coupled with the criminals Capturing the government.

Thu, 09/29/2011 - 21:27 | Link to Comment StychoKiller
StychoKiller's picture

                   Excerpt(s) from "The Big Short":

"In Bakersfield, CA., a Mexican strawberry picker with an income of $14,000/yr and no English was lent every penny he needed to buy a house for $724,000."

"By May 2007, however, there was a growing dispute between Howie Hubler and Morgan Stanley.  Amazingly, it had nothing to do with the wisdom of owning $16 Billion in complex securities whose value ultimately turned on the ability of a Las Vegas stripper with five investment properties, or a Mexican strawberry picker with a single $750,000 home, to make rapidly rising interest payments."

"'Who takes out a home loan and doesn't make the first payment?' asked Danny Moses, putting the matter one way.  'Who the fsck lends money to people who can't make the first payment?' asked Eisman, putting it another."

Thu, 09/29/2011 - 22:04 | Link to Comment nmewn
nmewn's picture

"'Who takes out a home loan and doesn't make the first payment?' asked Danny Moses, putting the matter one way.  'Who the fsck lends money to people who can't make the first payment?' asked Eisman, putting it another."

A skittle shitting unicorn with a gun to his head...but it was all highly regulated, legal and above board...lol.

Which comes full circle to the question at hand, if I/we can wrap our heads around it.

If, as it is so often postulated, that we the people, own all these properties by virtue of "our ownership" of the GSE's and are ultimately backstopping their insurers...why are we/I not getting the monthly payment?

If it is a societal mortage/insurance pool...I'm releasing them from paying me here and now.

The only intention was for me/us to backstop the risk, not share in the profit...to be the patsy...the mark.

But still, all quite highly regulated and legal ;-)

Thu, 09/29/2011 - 12:31 | Link to Comment karzai_luver
karzai_luver's picture

moe moe moe moe moe moe --- save the effort next time - just cut and paste ,K!

 

the losers ran out of suckers and thus needed new suckers so they found some , now just becuase those new suckers didn't have any money to buy the shitholes didn't stop them, no they paid the gvt clowns to "get the gvt off our backs" so we can create jobs *and I am sure you were at the front of that line of dolts*  and thus the field was cleared and the loser banksters wrapped up all their shitholes inside some nice looking boxes and paid for a nice rating and then passed all those nice new boxes of shit right back to the same set of suckers they lured in the first time when they sold the shithole to them.

 

Nice racket if you can get away with it.

 

Those who actually believe that the free bernanke bucks , just as mark to unicorn fantasy was done to prop up the lower class suckers has not been out of the basement for many many years.

 

p.s. when i see tangelo or the shine on you crazy diamond or any of the other slime living under the bridge with the other suckers  I will give your bullshit a look.

 

Thu, 09/29/2011 - 12:01 | Link to Comment buzzsaw99
buzzsaw99's picture

the fascist regime of america wants everyone to know: VEE HAVE GAZOLENE ALL OVER ZEE PLACE!

Thu, 09/29/2011 - 12:01 | Link to Comment JSD
JSD's picture

"Meltdown Part 1" is, and always has been in the mirror.

Thu, 09/29/2011 - 12:03 | Link to Comment Everybodys All ...
Everybodys All American's picture

It's a puzzler that every little guy who took out a home loan they knew or should have known they could not pay back have no culpability. That aside there are plenty of villains and I'm quite sure Al Jazeera will make sure the Arab world sees the Americans as the entire problem. Though this same crap was going on all over Europe, Asia, Dubai, and now China. That being said Mozilo, Bernanke, Geithner, Dodd, Frank, and Paulson need to be prosecuted.

Thu, 09/29/2011 - 12:38 | Link to Comment karzai_luver
karzai_luver's picture

you are clueless.

 

You mean to say that if you signed for a home loan and then default that you have no WHAT again.........

 

What about all those corp titans that took out money to start their shithole biz that they knew odds were would never work?

 

odds say small biz failure is the greater chance.

 

a home was being sold as a biz as an investment, and suckers and probably you believed it and now are crying in your beer. Well you are lucky we let you have a beer.

 

Thu, 09/29/2011 - 12:06 | Link to Comment bart12
bart12's picture

Alan greenspan , the clueless federal reserve chairman!

Thu, 09/29/2011 - 12:06 | Link to Comment AldoHux_IV
AldoHux_IV's picture

Hopefully this movie doesn't skirt around the issue as others have-- end the fed.

Thu, 09/29/2011 - 12:11 | Link to Comment RobotTrader
RobotTrader's picture

MarketWatch featuring articles about how many hedge funds are trying to "make their year" by buying beaten down crap like Genworth Financial, already HeatMapped up 16% from the lows.

LOL...

Thu, 09/29/2011 - 12:17 | Link to Comment Bear
Bear's picture

A repeat of listing of all Meltdown videos on YouTube: 

 

Part I …  http://www.youtube.com/watch?v=ZWU65Zbka4E

Part II … http://www.youtube.com/watch?v=pqBlVBhv0ag

Part III … http://www.youtube.com/watch?v=JBhAvUTW5ZE

Part IV … http://www.youtube.com/watch?v=bZwMIIJLWOw

 

 

Thu, 09/29/2011 - 12:24 | Link to Comment reader2010
reader2010's picture

The shit started in Clinton era with demands from the Street but no one wants to bring up the background info.  How about exposure of those criminals of Clinton ear, such as Robert Rubin?

Thu, 09/29/2011 - 12:40 | Link to Comment karzai_luver
karzai_luver's picture

try regan and then you would be getting close.

 

it was going for 30 years or more.

 

Thu, 09/29/2011 - 12:20 | Link to Comment thunderchief
thunderchief's picture

Lets all get over the QE thing.  And the Greek default thing, which has already happened.

I get the feeling this current situation is grasping for straws.  Like that moron Texas Governer reaching as far as he can to save himself.  Mit Romney is sitting back laughing. 

Here is the truth if you can handle it..

Europe is debt screwed beyond comprehension.  Nothing will change that.  Default will be the most soboring issue.  The USA is using this as a smoke screne for its own insolvent banking problems. 

Does anyone remember just a few weeks ago when BofA and all the rest were on the hot seat for being broke?  Here comes Europe to save the day. 

And then the spanking in PM's to really shoot the load on that bad tatoo. 

None of this impresses me.  It is enough to make you want to turn your computer off for a few months.  Maybe ZH should cool off, as most of the news is worthless to print.  It is all a big waste of time. 

Thu, 09/29/2011 - 12:25 | Link to Comment SheepDog-One
SheepDog-One's picture

Amazing how they can take the focus off the total bankruptcy and dead economy here in the US, trillions in bad debt with many STATES far larger than any problem the Euros have, and focus everything like a laser on far off lands with $20 billion debt problems. 

Thu, 09/29/2011 - 12:19 | Link to Comment Woodyg
Woodyg's picture

Wht are the chances we deal with these predators like we did at the end of WW2?

http://www.custermen.com/ItalyWW2/ILDUCE/Mussolini.htm

Thu, 09/29/2011 - 12:19 | Link to Comment Lazane
Lazane's picture

All of the media is bought and paid for, you can expect more hype by all media in the coming months

Plenty of blame to go around they are all pawns for the globalist banksters in the execution of plans for their marxist NWO.

Their current stooge in the white house who was selected long before american people elected him has performed their prime directives better than they ever imagined. while he will ultimately get the blame for bringing on the financial chaos in the republic of the United States, they have seen to his every want and need post 2012. 

Its a pretty ugly outcome for those not prepared to accept the financial and economic repression coming along that will spread the misery to ever corner of the globe. 

The only possible way out is for the people to make a restoration of their constitutions. 

 

Thu, 09/29/2011 - 12:22 | Link to Comment reader2010
reader2010's picture

How do you get prepared to accept the shit? Just curious. 

Thu, 09/29/2011 - 12:28 | Link to Comment AnAnonymous
AnAnonymous's picture

All of the media is bought and paid for, you can expect more hype by all media in the coming months

::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::

No. The free press in the US world order is not bought and paid for.

The free press acts to favour their best interests. This is how it happens in this US driven world.

They need no guidance to take decisions and propagate stories that would favour their best interests.

They act independently.

Anchorpeople are US middle class people who do not report facts but stories that will serve the interests of their special groups. If they feel a situation is developing in an adverse way to their special interests, they report against it.

The free press is another branch of the US world order.

Nobody pays them for that.

Thu, 09/29/2011 - 12:43 | Link to Comment karzai_luver
karzai_luver's picture

yes and even those ass clowns with their pink ties and power suits know it.

 

They can't stand it but they know to step outside the lines is career death and that they can't take. They would kill their first born before they would be cutoff from the hive.

 

Stockholm syndrome is mild compared to the conformity demanded in the MSM circles.

 

 

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