Friday, October 10, 2008
Death by Derivative - Party like it's 1999!
Maybe we should have been spending less time worrying about that dude with a beard and turban sitting in a cave somewhere in Pakistan, planning the fall of Western Civilization, and more time worrying about that Ayn Rand Acolyte on Wall Street with the glasses, the shiny shoes and the three-piece suit, promoting unregulated derivatives.
Death by Derivative? What you don't see can kill you!
I think I finally get "trickle down economics." The Big Time Money Boyz get drunk on "abstract instruments" like Credit Default Swaps (Question: Just how many credit default swaps can dance on the head of a pin?), they fill their fat, greedy bladders, and then well, they end up trickling down on the rest of us.
Will the history books tell us that Alan Greenspan was the real Enemy Number One?
Wow, carnage on the street. And really maybe it's not so much a panic, more like people just woke up and realized the Emperor was stark raving naked! And of course, there must be a reckoning.
What's the song from the Brazilian Girls? "We just want to have a good time. All the time. Some people have nothing and want nothing and are free."