Posted by smeddum on December 5, 2008
The Fatal Flaw
Bob Moriarty 321 gold
Archives
Dec 4, 2008
I must be getting old. I keep thinking about things I used to think about 40 years ago and can’t remember the name of the person I met two minutes ago or what I had for dinner yesterday. It’s ok; there are alternatives to getting old and they are all bad. Read the rest of this entry »
Posted in Financial crisis | Tagged: derivatives | Leave a Comment »
Posted by seumasach on October 23, 2008
October 23, 2008 (LPAC)–“We’ve reached a situation of sheer panic,” Nouriel Roubini told the parasites assembled at the Hedge 2008 conference in London. “Hundreds of hedge funds are going to go bust.” “Don’t be surprised if policy makers need to close down markets for a week or two in coming days,” Roubini said.
“This will go down in the history books as one of the greatest fiascos of banking in 100 years,” said Emmanuel Roman, of hedge fund giant GLG Partners. “In a fairly Darwinian manner, many hedge funds will simply disappear,” he added. Read the rest of this entry »
Posted in Financial crisis | Tagged: derivatives, hedge funds | Leave a Comment »
Posted by alfied on October 12, 2008
Not for nothing did US billionaire Warren Buffett call them the real ‘weapons of mass destruction’
By Margareta Pagano and Simon Evans
Sunday, 12 October 2008
The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world’s output: it’s been called the “ticking time-bomb”. Read the rest of this entry »
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Posted by seumasach on September 19, 2008
Ellen Brown
18th September, 2008
Something extraordinary is going on with these government bailouts. In March 2008, the Federal Reserve extended a $55 billion loan to JPMorgan to “rescue” investment bank Bear Stearns from bankruptcy, a highly controversial move that tested the limits of the Federal Reserve Act. On September 7, 2008, the U.S. government seized private mortgage giants Fannie Mae and Freddie Mac and imposed a conservatorship, a form of bankruptcy; but rather than let the bankruptcy court sort out the assets among the claimants, the Treasury extended an unlimited credit line to the insolvent corporations and said it would exercise its authority to buy their stock, effectively nationalizing them. Now the Federal Reserve has announced that it is giving an $85 billion loan to American International Group (AIG), the world’s largest insurance company, in exchange for a nearly 80% stake in the insurer . . . . |
Posted in Financial crisis | Tagged: derivatives, financial collapse | Leave a Comment »
In These New Times 