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the Big Short
A dramatization of the world financial collapse of 2007/8 - otherwsie known as massive fraud.

Well worth watching.

And apologies for banging my own drum here, but I saw this coming 15 years before it happened. It didn't take any sort of brains, just an observation of the massive leveraging that was taking place in the financial markets in the early mid 1990's - plus later watching how the collapse of Long Term Capital Managment in 2000 from massive overleveraging played out. That was a sign of what was to come.

The collapse of 2007/8 totalled $5 trillion that was put on the shoulders of the US taxpayer (not to mention the additional losses from numeous others nations worldwide). The $5 trillion is still being paid by the US taxpayer in interest (not to mention capital reapyments - impossible to cover fort ever after) to those who buy US Treasuries.

Treasuries are sold, for a commission, by the banks that racked up the huge losses and were rescued. They are called "primary dealers".

In other words; the banks made a killing from fraudulent trading that led to a loss of $5 trillion - but hey, they knew would be rescued by the Fed and the US government. They then used money from the $5 trillion bailout to pay themselves huge bonuses and refloat their profit franchise, so they could start the whole circus all over again. And they handsomely profit from making a market in the securities that were - and still are - used to pay off their original gambling debts.

It's going to happen again.

Oh joy.
The shadow is a moral problem that challenges the whole ego-personality, for no one can become conscious of the shadow without considerable moral effort. To become conscious of it involves recognizing the dark aspects of the personality as present and real. This act is the essential condition for any kind of self-knowledge.
Carl Jung - Aion (1951). CW 9, Part II: P.14

Messages In This Thread
the Big Short - by David Guyatt - 16-01-2016, 10:48 PM
the Big Short - by Lauren Johnson - 17-01-2016, 02:52 AM

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