Post by 3bid on Dec 9, 2014 10:03:38 GMT -5
comment:
The sub prime housing market, and securitization crisis of 08 is a perfect example of our regimes rewarding the criminals and culprits who help destroy society . Over 3 trillion dollars of debt was essentially transferred from private banking firms like Lehman Brothers unto public ledgers. Not only were the people who attained this debt not punished but they could jump ship with insider information and gain millions right before the crash.
Instead of sending these people to jail, we let them make enormous amounts of money, and then transfer the debt to the public realm. This hurts the common people in return for making millionaires a few more million. Complete illogical chaos.
Published on Dec 9, 2014
In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the motto of the modern financial markets: “my word is my bond, but my bond is your problem.” As the yield-chasers have piled into the junk bond market in the past few years of ZIRP, this could spell big trouble for the fracking sector as oil prices plunge. In the second half Max chats to the CEO of Bitpay.com, Stephen Pair. They discuss Foxtrot - a project that hopes to do for networks what bitcoin did for currency - and also about the latest in bitcoin, internet 2.0 and regulations.
