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| Economy |
| Video: Keiser Report: Möbius Strip of Fraud |
| 2011-12-16 |
| Posted by:tipper |
| #4 It gets even worse. The special bankruptcy treatment given repos and derivatives means that repo lenders and parties to derivative contracts can keep the collateral if their trading partner becomes insolvent. This exempts them from the “automatic stay” rule in bankruptcy, which prohibits most creditors from trying to collect ahead of others. So in a banking bankruptcy derivitave holders get priority over even bond holders or depositors. |
| Posted by: tipper 2011-12-16 21:37 |
| #3 Redneck Jim is a master of understatement. I'm sending a link to this Keiser report to all of my friends. Now we know what happened to MF Global...they reobligated all of the money... What about these off books derivatives that all of these clowns are holding that are backed by this stuff. No wonder they don't want to loan out the stimulus money, they're holding it if the roof falls in (P.S. to Wall Street, the roof has already fallen in). When will someone anyone call B.S. on all of this and start the full prosecution of these people. |
| Posted by: Bill Clinton 2011-12-16 16:45 |
| #2 Oh I get it! Eureka. I've just been hit in the head with the magic meatball. You steal someone else's money and then make wild ass gambles with it. And then you say you can't remember or don't know where it went. It is likely that you are also a Democrat. |
| Posted by: JohnQC 2011-12-16 16:33 |
| #1 HOLY SHIT. |
| Posted by: Redneck Jim 2011-12-16 10:25 |