Welcome to my glorious mess.

Some people are mad at our country’s money situation.

Posted in Hedge Funds and regulations., The truth about Credit derivatives by Dom Brady on April 5, 2008

Well that’s what you get for speculating. Cherry pickingv is for the birds. We’ve dug ourselves into a very messy situation thanks to the Clinton and Bush regimes’ laissez-faire attitude towards the markets, taxation and regulation. Oh, don’t be mistaken. Clinton’s folks have a great deal of blame, in my opinon, with our current mortgage situation in this country. Had the predatory lending and pro-sumer lending options been reigned in as many wanted for years such as Rob Wilson from WAOK here in Atlanta, we wouldn’t be in this deep of a mess. Between Hedge funds, Derivatives and other complexed Dark Market activity, we need to take a deeper look at our financial system. I used to read Worth Magazine and other financial rags back in my Financial Advisor days and the most popular instruments talked about were hedge funds and mortgage backed securities. When people assume there is no risk, there will be consequences. We’ve seen this before in Asia as recently as 1998 during the Clinton Administration. We witnessed the fall of the Baht, and spread of contagion. We learned NOTHING. Don’t for one second think the rest of the Free Market world aren’t facing the same problems either. England just had to nationalize Northern Rock (one of their biggest banks), and Germany, Italy, Spain as well as other Western European countries are all in trouble with millions of empty new homes. It’s like Thailand all over again. Didn’t this just happen 10 years ago? Why aren’t people using common sense? Why are we listening to fast-food financial advice? Get some proper perspectives from NPR about our current situation broken down to easily understood terms here:

Listen Here

Fresh Air from WHYY, April 3, 2008 · Perplexed by the U.S. economy? You’re not alone. Law professor Michael Greenberger joins Fresh Air to explain the sub-prime mortgage crisis, credit defaults, the shaky future of other types of loans and what we can expect from the U.S. financial markets.

Greenberger is a professor at the University of Maryland School of Law and the director of the University’s Center for Health and Homeland Security.


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