samedi 6 mars 2010

Corrupt ! (1)

Post suivant 


Goldman Sucks
04/03/2010 (en Anglais texte en anglais )


Et déjà en 29, ils en étaient...

C'était plus artisanal tout de même leurs Ponzis de l'époque de la Blue Ridge et de la Shenendoha...

Priez pour que Draghi ne finisse pas à la BCE...

Ou encore Joseph Stiglitz, prix nobel d'économie : "Le système de la Federal Reserve est corrompu et menace la démocratie"

Nobel Prize-Winning Economist: Federal Reserve System is Corrupt and Undermines Democracy
Huffington Post via ZeroHedge, 03/03/2010 (traduire en Français texte en anglais )
http://www.zerohedge.com/article/nobel-prize-winning-economist-federal-reserve-system-corrupt-and-undermines-democracy

If we [i.e. the World Bank] had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure.

So, these are the guys who appointed the guy who bailed them out ... Is that a conflict of interest?

They would say, 'no conflict of interest, we were just doing our job. But you have to look at the conflicts of interest"...

The reason you talk about governance is because in a democracy you want people to have confidence ... This is a structure that will undermine confidence in a democracy.

Ou encore James Rickards qui a été chargé de régler la crise de LTCM :


Threat Finance
welling@weeden via ZeroHedge, 06/03/2010 (traduire en Français texte en anglais )
http://www.zerohedge.com/article/ltcm-general-counsel-us-stared-near-catastrophe-eye-ltcm-and-decided-double-down
What strikes me now, looking back, is how nothing was changed: no lessons were applied. Even though the lessons were obvious, in 1998. LTCM used fatally flawed VaR risk models. LTCM used too much leverage. LTCM transacted in unregulated over-the-counter derivatives instead of exchange traded derivatives. So risk models needed to be changed, or abandoned. Leverage had to be slashed. Derivatives had to be traded on exchanges or cleared through clearinghouses. Regulatory oversight needed to be ramped up... The government did just the opposite. Glass-Steagall was repealed in 1999, so that banks could become hedge funds. The U.S., in effect stared near-catastrophe in the eye, with LTCM, and decided to double down.

Vous pouvez aussi écouter une longue interview de Rickard sur King World News ici.

Et encore je vous passe Bill Gross, dirigeant de Pimco, 1000 milliards de $ sous gestion, qui explique que ce qui l'étonne le plus avec les politiciens américains, ce n'est pas tant qu'ils soient tous corrompus, mais à quel point ils ne sont pas chers à acheter.



Let’s Get Fisical
Pimco, Bill Gross, 01/2010 (traduire en Français texte en anglais )
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2010/Let%E2%80%99s+Get+Fisical+January+2010.htm
What most politicians apparently are working for is to perpetuate their power – first via district gerrymandering, and then second by around-the-clock campaigning financed by special interest groups. If, by chance, they’re ever voted out of office, they have a home just down the street – at K Street – with six-figure incomes as a starting wage.

What amazes me most of all is that politicians can be bought so cheaply.


Ou encore Ron Paul qui essaie encore et toujours d'abattre le golgoth et de faire passer son "Audit the FED" par des chemins détournés, avec toujours l'insondable Barney Frank pas loin...

Barney Frank Demands Bernanke Probe Fed Involvement In Watergate Scandal And Iraq Arms Sales Following Ron Paul Questioning
ZeroHedge, 03/03/2010 (traduire en Français texte en anglais )
http://www.zerohedge.com/article/barney-frank-demands-bernanke-probe-fed-involvement-watergate-scandal-and-iraq-arms-sales-fo


Frank, 69, said the Fed must address the charges because “continued concern about political interference” with the Fed and “allegations about a lack of transparency.” Bernanke and other Fed officials are trying to fend off a measure offered by Paul, which passed the House in December, that would open the Fed to audits of interest-rate decisions.
“These specific allegations you’ve made I think are absolutely bizarre, and I have absolutely no knowledge of anything remotely like what you just described,” Bernanke told Paul, a Texas Republican who wrote the 2009 book “End the Fed,” during last week’s hearing.


Ou encore cet édifiant documentaire de PBS sur comment la bande de mafieux de la finance à la tête des USA (Rubin, Greenspan, Summers) a eu la peau de Brooksley Born à la tête de la CFTC qui voulait réguler le marché des produits dérivés :

The Warning
PBS, 20/10/2009 (traduire en Français texte en anglais )
http://www.pbs.org/wgbh/pages/frontline/warning/view/


Au passage, Lawrence Summers, après avoir ruiné Harvard avec ses dérivés, se retrouve aux côtés d'Obama   


Ou encore William K. Black qui a aidé à regler la crise des Savings & Loans, ou encore Simon Johnson, et j'en passe...

Tous sont unanimes pour dire que le système est totalement corrompu et que la démocratie est en danger (selon moi, elle est déjà morte depuis longtemps).

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