Originally Posted By: Dogfish
Nice article in an obscene way. Reminds me of the woman who headed the agency that tried to regulate those CDS. Goldman Sachs was mentioned, whom SW refers to as blood sucking vampire squid, or something like that.

The sad thing is that there are a number of small banks that played no part in that fiasco who are going down, while most of those who created the mess are still plugging along.


Rather disingenuous I thought. To say that people like Paulson, Geithner, and Bernanke were clueless as to what was going on is laughable at best. Federal pound-me-in-the-ass prison is where those guys should be.

That some part-time, one eyed hedge fund manager was at the forefront of the CDS market was where the article lost me. The timing in the article didn't even match up. This guy made all his money by betting on and helping to develop CDS products in 2007 yet it was Goldman Sachs who convinced AIG to insure 20 billion worth of suprime paper in 2005??? C'mon.

Blood sucking vampire squid is exactly right grin

Seems to me this was a piece designed to deflect the attention from where it is truly deserved and to justify wage controls in the industry. If they weren't bailed out to the tune if trillions they would have never been able to afford all those bonuses.
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