Comments on: You pay, they play http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/ i run my own damn think tank Tue, 22 May 2012 04:33:12 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Rick http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3607 Rick Thu, 26 Mar 2009 13:59:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3607 http://www.infowars.com/kucinich-federal-reserve-no-more-federal-than-federal-express/<br/><br/>http://mediaoutrage.com/2009/01/29/dennis-kucinich-wants-to-put-the-federal-reserve-under-govt-control/<br/><br/>http://smargus.com/2009/01/dennis-kucinich-rails-against-fractional-reserve-banking/ http://www.infowars.com/kucinich-federal-reserve-no-more-federal-than-federal-express/

http://mediaoutrage.com/2009/01/29/dennis-kucinich-wants-to-put-the-federal-reserve-under-govt-control/

http://smargus.com/2009/01/dennis-kucinich-rails-against-fractional-reserve-banking/

]]> By: Greg Bacon http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3605 Greg Bacon Thu, 26 Mar 2009 12:16:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3605 And the Fed can not be audited by Congress.<br/><br/>Plus, the Fed doesn't pay income tax. Isn't income tax evasion how they got Al Capone? And the Fed can not be audited by Congress.

Plus, the Fed doesn’t pay income tax. Isn’t income tax evasion how they got Al Capone?

]]> By: Greg Bacon http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3604 Greg Bacon Thu, 26 Mar 2009 11:39:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3604 <b>"Party like it's 1929!"</b><br/><br/><i>AMY GOODMAN: You compare this whole thing to a casino. Lay out the analogy for us. <br/><br/>MATT TAIBBI: Well, you know, the biggest situation is, you know, a lot of these contracts, these CDS contracts, are like gambling, in the sense that—normally when you buy an insurance policy, you’re buying a policy on a house that you actually own. With these CDS contracts, you could actually bet on somebody else’s mortgage. AIG, for instance, could have gone to Goldman Sachs and said, you know, “We’d like to bet that the mortgages that were issued by JPMorgan Chase are going to default in the next ten years.” So these two parties that don’t have anything to do with the actual underlying loan could actually gamble on the outcome of that loan. So, this is—it’s really no different at all from gambling. And that’s why they had to seek a specific exemption from gaming laws in the year 2000, when they actually went forward with the deregulation of these instruments. <br/><br/>AMY GOODMAN: What do you mean? <br/><br/>MATT TAIBBI: <b>In the Commodity Futures Modernization Act in the year 2000, they specifically exempted credit default swaps from being treated as gaming under any state laws. And they had to do that, because they were afraid that they were going to be regulated by, you know, state gaming agencies. </b></i><br/><br/>http://www.democracynow.org/2009/3/25/aig_and_the_big_takeover_matt<br/><br/>Roll "snake eyes" and still get paid. “Party like it’s 1929!”

AMY GOODMAN: You compare this whole thing to a casino. Lay out the analogy for us.

MATT TAIBBI: Well, you know, the biggest situation is, you know, a lot of these contracts, these CDS contracts, are like gambling, in the sense that—normally when you buy an insurance policy, you’re buying a policy on a house that you actually own. With these CDS contracts, you could actually bet on somebody else’s mortgage. AIG, for instance, could have gone to Goldman Sachs and said, you know, “We’d like to bet that the mortgages that were issued by JPMorgan Chase are going to default in the next ten years.” So these two parties that don’t have anything to do with the actual underlying loan could actually gamble on the outcome of that loan. So, this is—it’s really no different at all from gambling. And that’s why they had to seek a specific exemption from gaming laws in the year 2000, when they actually went forward with the deregulation of these instruments.

AMY GOODMAN: What do you mean?

MATT TAIBBI: In the Commodity Futures Modernization Act in the year 2000, they specifically exempted credit default swaps from being treated as gaming under any state laws. And they had to do that, because they were afraid that they were going to be regulated by, you know, state gaming agencies.

http://www.democracynow.org/2009/3/25/aig_and_the_big_takeover_matt

Roll “snake eyes” and still get paid.

]]> By: A. Peasant http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3603 A. Peasant Wed, 25 Mar 2009 20:50:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3603 you know what they say...wish in one hand, shit in the other, see what you come up with. you know what they say…wish in one hand, shit in the other, see what you come up with.

]]> By: malcontent http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3602 malcontent Wed, 25 Mar 2009 20:04:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3602 If even this story doesn't get people marching in the streets I'm afraid nothing short of destroying all their teevees will.<br/><br/>We may have to pull the plug on fluoridated water to wake these sheeple up. If even this story doesn’t get people marching in the streets I’m afraid nothing short of destroying all their teevees will.

We may have to pull the plug on fluoridated water to wake these sheeple up.

]]> By: A. Peasant http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3601 A. Peasant Wed, 25 Mar 2009 18:25:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3601 How can they not fail? The corruption is exposed. I want the gig to be up. How can they not fail? The corruption is exposed. I want the gig to be up.

]]> By: Sis http://editorseye.com/WordPress/2009/03/25/you-pay-they-play/comment-page-1/#comment-3599 Sis Wed, 25 Mar 2009 18:12:00 +0000 http://editorseye.com/WordPress/?p=1218#comment-3599 Funny thing just happened. I've been following the treasuries to get an idea if we are still hanging by the fingernails. Today, the Feds auctioned $7.5 bil, the first of an announced #300 bil.<br/><br/>So here's what happened. I read a report on Marketwatch about the initial offering. The news was negative; bidders weren't enthusiastic and there was a marked absence of foreign buyers. Stock market begins to erase it's morning gains. Then, I go back to that same article just ten minutes later and the article is rewritten to a neutral position on the auction. Not a whiff of negativity.<br/><br/>If these treasury auctions fail, the gig is up. Funny thing just happened. I’ve been following the treasuries to get an idea if we are still hanging by the fingernails. Today, the Feds auctioned $7.5 bil, the first of an announced #300 bil.

So here’s what happened. I read a report on Marketwatch about the initial offering. The news was negative; bidders weren’t enthusiastic and there was a marked absence of foreign buyers. Stock market begins to erase it’s morning gains. Then, I go back to that same article just ten minutes later and the article is rewritten to a neutral position on the auction. Not a whiff of negativity.

If these treasury auctions fail, the gig is up.

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