The Ultimate 9.09 MOAP..The Credit Default Swap
August 17, 2009
– Comments (4)
The financial weapon of mass destruction that destroyed America's economy. The financial instrument permitted bankers to enrich themselves while recklessly infecting our economy with an unprecedented amount of debt. The financial crack that allowed CCC money losing businesses to borrow as much as they wanted but put profitable small businesses out of business.
Now, because America is suffocating under a lethal amount of debt our nation is shutting down while Wall Street laughs and the Washington whipping boys stand right beside them.
Churches are shutting down. Manufacturers are shutting down. Company after company is slashing its workforce and cutting wages. Bankers are telling us they are even going to get tighter with lending to those that need it most, but have an unlimited amount of money to anyone they can issue swaps against.
Today, Readers Digest declared bankruptcy as it could no longer support its over $1.5 Trilllion in debt that was digested when a private equity firm recently bought it out a few years ago. You think it ever mattered if the business survived....the real money was playing the SWAPs and few gave a damn about the employees.
The joke about this whole thing is that Bernanke and Geithner know exactly what is going on and lying to your face day after day....they know most of you are going bankrupt because you are either going to lose your job, lose your pension, or government will be forced to tax you practically every dime you have due to so few making an income.
You think anyone is going to bail you out?
It is sad we have gotten to this point and so few really can see what is happening. Millions are losing their homes and businesses. Today Chicago practically shut down to save a few million dollars while we are giving billions in bonuses to bankers?
And some are worrying about healthcare "reform"? Soon there will not be enough money to keep hosptials open........quite frankly, Atlas has shrugged as our nation heads down a path of Zombulation decay.
If the truth upsets you, then come up with your own solution and start telling others.
If you think the tulip bubble was convulsive to the Holland a few hundred years ago, just wait until we start to feel the effects of the SWAP injected debt bubble.
9.09
RSS Headlines
Fool UK