Apr 20 2010
How does your Obligation to make your Mortgage Payments, turn into some unseen Investor’s “Income Stream”?
Easy — thanks to Derivatives and CDO’s (Collateralized Debt Obligation).
For the mere Price of Admission, those unseen Investor’s get to divvy up your Mortgage Payments, among themselves — long as they “promise to pay off” that Debt, WHEN, for whatever reason, you are no longer able to make those Obligatory Payments …
Piece of Cake!
Geesh … WHAT could ever go wrong with this picture?
Sep 15 2009
We have been told that Wall Street Investment firms are “Too big to Fail” — But that does NOT Mean they are “Too Big for Accountability”!
The Question boils down to,
Who Does the Congress Represent anyways —
The American People, or the Global Bankers (and their Lobbyists) ?
And Will the People bother to care about Wall Street Regulation this time around?
Since I’m assuming we will, here’s some essential background on the Wall Street Meltdown mess:
Credit Default Swap (CDS)
What Does Credit Default Swap (CDS) Mean?
A swap designed to transfer the credit exposure of fixed income products between parties.
http://www.investopedia.com/te…
CDS’s are an easy way to transfer Credit Risk — Check!
Jul 27 2009
Way back in March of 2009, Rachel explained the “Highway Robbery” which happened on Wall Street, using a few simple word-pictures. (ie. simple Frames). These perhaps deserve a quick review …
Rachel Maddow – Cops and Robbers
Link to Rachel’s very humorous Clip
Great Framing Rachel! … I love it, when Progressive Talkers, make learning FUN! The simpler the Word-Pictures, the better the Frame!
“Is our childrens learning?” as George W. used to ask.
Could be, … Maybe we just needed to “Turn the Page” …
Jul 14 2009
Elizabeth Warren was appointed chair of a newly created Congressional Oversight Panel (COP), which is charged with keeping tabs on the $700 billion bailout of the financial sector – including Troubled Assets Relief Program (TARP).
Warren however, has had some “Trouble” getting straight forward answers … as she explained to the Boston Globe:
Mar 29 2008
Crossposted from another fine community, SwordsCrossed
At the height of the housing bubble in 2005, Massachusetts Democrat Barney Frank gave a boilerplate speech on the House floor in support of a meaningless resolution to honor National Home Ownership Month. This speech, forgettable at the time, reveals much of what is wrong with our legislative process, and gives insight into the complacency that has found us at the precipice of the most severe economic crisis since the Great Depression.