Jon has another winner. In this 10 min video, he explains all the complexities of Wall Street with an easy to understand example.
The Lehman repo transactions, “if we don’t pay bonus, we will lose our talent,” why corporations have better rights than humans in this country, accounting scams that pass for ‘ginius’ labels on Wall Street – and much more.
You MUST watch this!!!!!
| The Daily Show With Jon Stewart | Mon – Thurs 11p / 10c | |||
| In Dodd We Trust | ||||
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Thanks Mohan garu,
1984 Volvo wow, that was funny. Least that thing will protect you 🙂 , but these banks ?
Speaking of which , did you know that Warren Buffett bought stock of Goldman ?
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Of course, it is not his purchase of Goldman stock that bothered me, his insistence that he bought it because it was a ‘good investment.’ Many believe that it was (or through) Goldman he wrote those S&P puts callable in 2015. The puts were European style, which means that he was under no danger of asking to cough up several bil in collateral. But, if Goldman went under, the market would have been back into 500 range (S&P), which would have wiped out Berkshire.
Buffet, then adviser to Obama, only acted in his self interest. Nothing wrong with that – but he did use his clout to get favors for him and Goldman. I am a bit disappointed in him, but still respect the old man.
What fantastic, yet true, analogies !!
Man, This is too much. These people are worst than our politicians.