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OTC Derivatives and the Financial Crisis Inquiry Commission~ IS Act II of the Perfect Storm Upon US?
The hottest places in hell are reserved for those who in times of great moral crises maintain their neutrality
Dante Alligheri, Inferno, The Divine Comedy
The largest 500 stocks, priced in terms of gold, declined since September of 2009, along with the Chinese miracle market since August 2009, which is targeting –14% lower from here.
http://stockcharts.com/charts/gallery.html?s=%24SPX%3A%24GOLD
http://stockcharts.com/charts/gallery.html?$SSEC
Golden prices are a leading indicator we daily posted on Charts with Hearts last year before we ran out of time doing Big4, TopTen and http://www.jubileeprosperity.com/ .
SPX:Gold was one of the leading clues to the March 2009 bear market rally buying opportunity that made subscribers good money.
Being of wondering mind, we are still curious why markets have been falling in real terms, despite the bailout miracle trumpeted in monopoly media headlines. We are quick to confess we do not think the lows of March 2009 were real generational lows at all.
So we turn to these current events in the political economy:
Goldman Sachs Chairman and Chief Executive Officer Lloyd Blankfein told the world from Washington, DC Wednesday that Over the Counter Derivatives held up pretty well (in the Big Bankster Great 2008 Taxpayer shakedown.)
Guess that depends on which side of the trade you were.
AIG shareholders, as well as American taxpayers, may feel differently about the moral hazard of too-big-to-fail corporations that avoided accountability and evaded responsibility, layed off people, put toxic assets in subsidiaries, even sold them to the Fed, Treasury and Taxpayers or declined to mark toxic assets to market prices for accurate balance sheets and investor transparency.
