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2016 Postmortem
Related: About this forumIt's 3 AM, who do you trust when the phone call comes in?
"Mr/Madam President..."
"Yes, what is it?"
"Goldman is unwinding... there's a run on their stock, they are $430 billion underwater"
"What about Blankfein?"
"We don't know, he was last seen in St. Croix on his yacht."
"What are our options?"
"We can take the bank into receivership, dismiss the executive staff and begin an investigation, or bail them out with tax credits and cuts to social programs and jobs. The first option would hurt Goldman's executives and investors and involves great political risk to Congressional campaigns. The second option distributes the pain across the middle class and below who have no real power to object."
"Understood. Here's my decision..."
"Yes, what is it?"
"Goldman is unwinding... there's a run on their stock, they are $430 billion underwater"
"What about Blankfein?"
"We don't know, he was last seen in St. Croix on his yacht."
"What are our options?"
"We can take the bank into receivership, dismiss the executive staff and begin an investigation, or bail them out with tax credits and cuts to social programs and jobs. The first option would hurt Goldman's executives and investors and involves great political risk to Congressional campaigns. The second option distributes the pain across the middle class and below who have no real power to object."
"Understood. Here's my decision..."
Who do you trust to do the right thing?
Easy.
Bernie would do the right thing. Hillary would do the wrong thing.
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It's 3 AM, who do you trust when the phone call comes in? (Original Post)
whereisjustice
Dec 2015
OP
Futures? Besides, when everybody expects there to be a run, that is the same as a run.
JonLeibowitz
Dec 2015
#6
HassleCat
(6,409 posts)1. What's right is what's good for those who support me (eom)
notadmblnd
(23,720 posts)3. You can't go wrong doing what's right.
Kalidurga
(14,177 posts)2. Hillary said supporting brutal dictators is sometimes the right thing.
And that was just the foreign ones not the 1% that are strangling the economy in this country.
Travis_0004
(5,417 posts)4. How is there a run on the stocks when the market is closed?
JonLeibowitz
(6,282 posts)6. Futures? Besides, when everybody expects there to be a run, that is the same as a run.
It's related to the efficient market hypothesis.
It's why there was a scramble over that weekend to save institutions in 2008, when the market was closed. For reference, see Andrew Ross Sorkin's book "Too Big to Fail".
merrily
(45,251 posts)5. Senator McCain and I...oh, wait, wrong primary.
PatrickforO
(14,574 posts)7. Yep. Great post.
Very plausible. If Clinton gets in, we're fucked. Sanders, not so much.
Betty Karlson
(7,231 posts)8. Oh yes. That phone call.
And that call could only be made under the veil of darkness - some things don't brook daylight.
Blue_Adept
(6,399 posts)9. Is it a landline or a cell phone?
mhatrw
(10,786 posts)10. But when it comes to bombing random people on the other side of the globe,
Hillary will not think twice!
And that's what makes a candidate "Presidential." Right?
bigwillq
(72,790 posts)11. I would rather have Bernie.
But I think Hillary and Martin would do ok too.