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Thread: Goldman Sach's Executive Director quits and tells why

  1. #16
    Quote Originally Posted by Mistwell View Post
    I blame it on it being Pi day.

    Maybe you will agree again on Tau day?
    When is that? The 28th of June?

 

  • #17
    56% of an excuse nail bunny's Avatar
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    Quote Originally Posted by Mustrum_Ridcully View Post
    When is that? The 28th of June?
    That is when the Tau shall conquer the other races for the Greater Good.
    I can delete you, one click and you're overwritten.

  • #18
    Pony Up! Ovinomancer's Avatar
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    Quote Originally Posted by ScyldSceafing View Post
    Isn't the fact that these banks have gotten to this size a testament to the power of what Ovi calls 'the shadow economy?' It seems everyone in charge has decided that simple, school-book capitalism is just a front, and the way 'everyone who's anyone' makes money is graft, bullshit and corruption.

    Talk about moral fucking hazard.
    No, that's not what shadow economy means. Don't paint your assumptions on me, thanks.

    The shadow economy is the network of poorly visable, poorly understood, and poorly regulated derivatives and credit default swaps that are traded in huge amounts not on the market or any other exchange, but directly between institutions. Hard to see and track = shadow. Not nefarious. Although it does seem nefarious, to be fair.
    Quote Originally Posted by PWD View Post
    I think ovi's right.

  • #19
    Quote Originally Posted by Ovinomancer View Post
    No, that's not what shadow economy means. Don't paint your assumptions on me, thanks.

    The shadow economy is the network of poorly visable, poorly understood, and poorly regulated derivatives and credit default swaps that are traded in huge amounts not on the market or any other exchange, but directly between institutions. Hard to see and track = shadow. Not nefarious. Although it does seem nefarious, to be fair.
    I understood the distinction. I was decrying what happens when those deals don't pan out - these guys never, ever take their medicine. They spin them into a new three-letter acronym (bullshit), get their in-pocket rating agencies to hand-wave them (corruption), and then pass them off as useful to suckers large but less-sophisticated investors (graft).

    I'm with you on this, Ovi. For the system to live up to its billing, for it to be anything but a rigged game and a slow walk back to feudalism, there's got to be transparency. Those in power seem to disagree.
    Wellll, it's a well-run campaign - midget, and broom, and whatnot.

  • #20
    That's Wacist! Mistwell's Avatar
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    Quote Originally Posted by Mustrum_Ridcully View Post
    When is that? The 28th of June?

    Yes
    .
    I like hats.

  • #21
    Given that we don't have a single objection to further regulation here, why do you folks think it is not happening? I have my suspicions, but leave it to others to provide their views.

    NRG
    I used to be a conservative and I watch these debates and I'm wondering, I don't think I've changed, but it's a little troubling sometimes when people are appealing to people's fears and emotion rather than trying to get them to look over the horizon for a broader perspective and that's kind of where we are -- Jeb Bush

  • #22
    Politicians are bought and paid for.
    Quote Originally Posted by nail bunny View Post
    I believe the hammer locking back is PWD's trigger warning.

  • #23
    toxic Xyxox's Avatar
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    Quote Originally Posted by Feanor View Post
    IMHO....or allowed to fail...

    yeah...I know...petty, petulant, and probably short sighted...but god damn the hubris to say "you have to save us, we're too big to fail." Just crawls right the fuck under my skin.
    I disagree completely. Had AIG been allowed to fail the dominoes would have toppled and we would have been looking at complete global meltdown on a scale never before seen. Governments would have been toppled and the world would have been plunged into an age of chaos.

    That said, the first thing that should have been done after the bailouts should have been to immediately alter legislation allowing such monstrosities to exist. To big to fial is too big to exist and must be broken up. When a financial institution is so large that its failure would start a breakdown of the economy that financial institution must be broken up into small pieces.
    Trump is just Putin's little bitch.

  • #24
    That's Wacist! Mistwell's Avatar
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    Quote Originally Posted by Xyxox View Post
    I disagree completely. Had AIG been allowed to fail the dominoes would have toppled and we would have been looking at complete global meltdown on a scale never before seen. Governments would have been toppled and the world would have been plunged into an age of chaos.
    You read like a section of Revelations. And I think that's fiction as well, though entertaining.
    I like hats.

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