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IWETHEY Home / IWETHEY Board / Money, Financials, and Economics Forum / That's still a step too far removed
Post #301,173
by drook
Picture of drook
12/17/08 10:19:27 AM
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New That's still a step too far removed
Investment banks and hedge funds were leveraging themselves at crazy levels, paying themselves crazy salaries and, most of all, inventing financial instruments that completely disconnected the ultimate lenders from the original borrowers, and left no one accountable.


It's not just that lenders were disconnected from borrowers. It's that "profit" has been disconnected from any real productive activity.
--

Drew
Post #301,196
by Ashton
12/17/08 5:13:15 PM
Reply
New Perfidy.. Where is thy Sting?
May there be a lot of itchiness from running-sores inside a LOT of Armani Suits, ere this mondo-fiasco is gotten by.. and there still exist bookkeepers to retrieve some of the swag == more job creation!
We'll need thousands of Investigative Accountants-with-teeth.

(And if Pelosi cannot be prodded into actually Doing Something, (something.. At All) we'll deserve the next generation of Ann Coulters and the other runts of the litter.)

Couple Keepers in this thread :-)
The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary.
-- H.L. Mencken
     'So, just how corrupt is America?' - (Ashton) - (3) - Dec. 17, 2008, 04:31:32 AM EST
         Who, indeed. - (dmcarls) - Dec. 17, 2008, 10:18:50 AM EST
         That's still a step too far removed - (drook) - (1) - Dec. 17, 2008, 10:19:27 AM EST
             Perfidy.. Where is thy Sting? - (Ashton) - Dec. 17, 2008, 05:13:15 PM EST

I asked one of the geostatisticians to look into it.
87 ms