The Mudcat Café TM
Thread #128415   Message #2891043
Posted By: Bobert
20-Apr-10 - 09:54 PM
Thread Name: BS: Obama Admin and Financial Reform
Subject: RE: BS: Obama Admin and FInancial Reform
The problem with dirivatives is that when the day is done, they porduce absolutely nothing for mankind... The argument that if the US regulates them that nothing will change is bogus... Lots of stuff will change here in the US...

First and formost, bankers and investors will have to do what the3y used to do and that is roll up their sleeeves and get a little dirty using money that would be kept out of the economy and, ahhhhhhh, actually lending it to small businesses that need it... But Wall Street has gotten very lazy... They don't wnat to earn money the "old fashioned way"... They want to take this pool of money and play games with it...

If we think about it this way it might make a little more sense... It's like Wall Street has corraled this biass chunk of change and so what they are doing with it is holin' up in some hotel and you have 5 guys sittin' around the poker table playing poker with it and a bunch of other people standing arounb betting on who is going to win the hand or lose the hand??? That's a little simplistic but that, in essence is what we have...

Now here's where it doesn't work for the country... This poker game produced "zero jobs"... It produced "Zero" infastructure... It produced absolutely nothing!!! That's right.... Absolutely nothing!!!
It's nothing but a "ballgame" to keep the upper 5% rich and everyone else scratchin'... It is tieing up valuable capital that could be used to build factories... Or schools... Or even taking a loss to get our steel industry back from Japan??? But no, we have the same rich people playing pea-under-the-shell with the government and the American people...

That's the real deal...

B~