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Global Financial Disaster

Traxster
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Traxster Silver Member

Traxster

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One thing they can't say about the Global Financial disaster.........They can't blame it on the 'man in the street.' or on the workersit was/is all the fault of the greedy bankers and financial 'wizards'.I recall two years ago when the American President decided to bail out Lehman Bros and Fannie Mac and Freddie may ???? Do you know what was the first thing they,the financiers and bankers, did with the bailout money ??THEY PAID THEMSELVES MILLIONS OF DOLLARS IN BONUSES,that's what they did !!!If that ain;'t greed along the lines of......'I've got mine Jack, f*** you'...........I dunno what is.

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kennalder Advanced Member

kennalder

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The man in the street is not completely innocent here. He was dumb enough to buy into the notion that housing prices were going to go up at 20-30% per year forever. Then he was prepared to lie on his credit app to justify a loan/house that he could not afford. Yes wall street is full of greedy people, no argument, but there are also has a lot of good honest people involved in the financial industry, and they do serve a purpose.

As for someone else's comment on short sellers, bankers etc., being scum, what do you propose? Outlaw short selling? Let asset prices sky rocket out of control because those that recognize a bubble can't take a position that profits when reality returns? Hardly a good solution. Re-instate the uptick rule? Possibly, but then, why not a down-tick rule for rampant buying? It's difficult to envision a good solution. All this financial globalization has developed way to quickly for the regulators to keep pace.

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flying Ruby Member

flying

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BBC has already come out & stated they investigated the person on the video.

No hoax.

But one must wonder what is it about this video that folks question

or would like to claim it was a hoax?

Many here have said numerous times the same things.

Volatile markets are great hunting grounds for nimble traders.

This person was an independent trader.

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