The Mudcat Café TM
Thread #115022   Message #2458538
Posted By: Donuel
06-Oct-08 - 01:44 PM
Thread Name: BS: The Economy for Dummies
Subject: RE: BS: The Economy for Dummies
Business says that the market will automaticly correct any mistakes without any goverment interference of any kind.
They call this all knowing self correcting mythological God of the market,
the Invisible Hand.

The invisible hand is a helpful hand when business is growing.
It becomes a fist when business is failing.
The invisble hand then tries to grab goverment money which is completley against every idea the invisble hand stands for.

The invisible hand is not real

The invisible hand is just an alibi crooks tell the cops.
'We didn't do anything officer, the invisble hand did it.'

The Security Exchange Commission is supposed to be the cops and court of Wall Street bankers. They were staffed with crooks.
The crooks held a 55 minute meeting to declare that Casinos/investment banks no longer have to have cash in reserve to cover their bets.

When secret bets were made with bookies on certain investments to not lose money, the bookie had to have that money to pay out if the 'insured' investment ever did lose money. BUT NOT ANY MORE. the SEC said its OK to make leveraged unsecured bets. Unsecured bets are leveraged with no real money.

The bookies let themselves run up a debt of trillions.
People sometimes did not buy insurance/be on investments, sometimes they claimed to sell an insured investment. But new rules let them not to even own what they were selling.

New Rules were so absurd you might not believe it.

next the absurd new rules...