Hedge Funds and the Global Economic Meltdow

[Nikki Stone1]

Run time: 04:29 https://www.youtube.com/watch?v=xUKSU1qahgE   Posted on YouTube: March 19, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: March 22, 2009 By DU Member: Nikki Stone1 Views on DU: 747

 
The story of the crimes behind the meltdown. A must see!

Part two is here:

http://www.youtube.com/watch?v=NcjssQSthNU&feature=related

Part three

http://www.youtube.com/watch?v=Q48eSoTNByQ&feature=related

[Joanne98]

1. MUST WATCH! Thanks Nikki Stone1.... K&R

[Agent William]

2. WTF? put options...reminds me of 9/11

K&R

[Joanne98]

3. 3 names... Jim Chanos/Dan Loeb/ Steven Cohen... HANG THEM!

[Nikki Stone1]

4. AMEN!

:kick:

[scholarsOrAcademics]

5. the Cohens

are a mixed bag. I try to follow Stefen Cohen on his analysis of Russia. If I am not mistaken the Cohens are heavy baggage.
There was coverage last year on phantom shares. The estimate, was a loss of about $5 billion per year on the stock market.

[scholarsOrAcademics]

7. correction. not per year

but per day.

[Moostache]

6. Definite K&R

This is not necessarily shocking to me, which in and of itself should be really disturbing already...

The biggest hole in the American economy remains the fact that NO ONE who actually caused it has been held fully accountable for this yet...and by the looks of it, they may never be. That is UNACCEPTABLE on every conceivable level.

The architects of the tinderbox - like Thain, Fuld, Paulson, Madoff, Stanford, etc.; and the arsonists of that tinderbox - like Chanos, Loeb, and Cohen...in my estimation, these are ALL men who should be preparing for Seppuku, and if they are incapable, then an act of god should befall them to satisfy the demands of justice.

We cannot allow the perpetrators of this swindle and theft to escape unpunished. No matter what the costs, no matter how much time it takes, those responsible MUST be held to account on every level. If not, then as crazed as the wingnuts are and as deluded as their reasons are, then it is time to burn it to the ground and start over...all of it...

[likesmountains 52]

8. So, what are the odds on any of these Hedge Fund Managers going to jail?

Disgusting really..

[Trav72]

9. I think naked short selling is just a part of the problem.

I believe there were a number of things that brought the financial system down from predatory lending in the mortgage industry to excessive leveraging to gambling with exotic financial products on a massive scale to voodoo accounting and all kinds of fraud.

Folks in the financial services industry are going to argue that it’s only the naked short sellers fault and there is no need to regulate anything but naked short selling. Yeah right.

Naked short sellers exploited an already fragile trillion dollar financial industry with just a few million dollars in fake trades (Note: AIG alone is a trillion dollar company). The industry would have eventually collapsed. The evil naked short sellers just made it come down quicker. It is a fact of life that businesses will collapse but we need regulation to prevent this so-called "too big to be allowed to fail" BS.


(off my soapbox)

Here's a video of Sen Dorgan in 1999 describing what will happen if Congress passes the Gramm Leach Bliley Act (MUST SEE)

http://www.youtube.com/watch?v=veAOoQEy0PI