Knowledge system is broken. Global financial crisis. Whose fault? Was there a crime? What is Obamas resolution? Much of the financing for mortgage bundling came from idiosyncratic financial derivatives that were not recorded in any standardized way. That makes it difficult to locate, value, gauge their risk and find the resources to cover that risk. The estimated notional amount on the worlds derivatives is some $600 trillion 40 times what the United States produces in one year. Thats a lot of missing knowledge. Hernando de Soto, New York Times. Who Owns This Mess? - Hernando de Soto http://www.nytimes.com/2011/12/02/o...ss.html?_r=1&scp=1&sq=Hernando de soto&st=cse Excellent article by Mr. de Soto which explains things, to a point. However, I would like to know if a crime has been committed, and by whom? Why hasnt the American government been mentioned as a possible cause also? Specifically, those who pushed for homes for everyone, and, who emphatically suggested that the banks deliver? How to shine more light on financial markets - David Frum http://fullcomment.nationalpost.com...how-to-shine-more-light-on-financial-markets/ Obama is going after the rich for more taxes to solve some of the financial problems, or distract, that his own party, democrat congressmen, were predominantly responsible. Community Reinvestment Act. Fanny Mae. Freddie Mac. Unregulated derivatives. Yet, Obama, the treasury, Federal Reserve, and government agencies bailed out some of the culprits on Wall Street; while allowing Lehman Brothers to fold because the firm was a competition to Goldman Sachs, friends of the administration. Indeed, many of the companies and major executives supported Obama and democrats. Even the questionable attorney general seems to be untouchable, for now. Charles Krauthammer succinctly describes President Barack Obamas answer to solve the problems: starting with redistribution of wealth for income inequality. Obama flees the fallout of his ill-starred actions Charles Krauthammer http://fullcomment.nationalpost.com...flees-the-fallout-of-his-ill-starred-actions/ One of the major culprits of the toxic house mortgages was homes for anybody Bill Clinton who recently said, The economy is lousy. Imagine that. Hillary probably chuckles and thinks the president is lousy, too, then she likely seethes quietly - I should have been the commander-in-chief. And, I wouldnt have allowed my horny, cigar puffing husband in the redecorated Oval office to remind him those were the days. The reprobate thinks hes more black and hipper than Obama, in style and manner; especially when he plays his sultry saxophone riff. At least now hubby makes an honest living with his books and speeches. Americans, will buy anything: such a forgiving people who love a comeback. With the campaign money Obama has raised, he could pay off some of the debt or buy the toxic homes and flip them. William and I know how to do that.
IMF: Global outlook is gloomy... Lagarde: No country's economy immune from rising risks 15 December 2011 - IMF head Christine Lagarde has said the world economic outlook is "gloomy" and no country is immune from rising risks.
there appear to be runs on banks in Spain, Portugal, Italy and France...if this is not stopped soon it can spread throughout the EU. Mind you I am sure uncle Bernacke will come to the rescue with his helicopter and printing press LOL