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#1
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Wall Street Explained
The "logic" of Wall Street is to push all the risk out to the tail of
some estimated distribution and then to find some chump on whom to lay off that risk. That's all there is to it. One famous chump was the Treasurer of Orange County, California, where many true believers live. With few exceptions, they regard themselves as ruthlessly logical. Just like Harvard's Endowment Fund, the county made money hand over fist on its investments--until it didn't. Even Harvard can be a chump. In the most recent debacle, the ultimate chump in many cases was AIG, which was actually running a scam by offering guarantees it could not back. Tim Geithner, another Harvard guy, just talked Congress' ear off as to why AIG and its counterparties didn't deserve to be the chump. Congress wasn't impressed, and neither was I. In the end Secretary "Tax Evader" Geithner felt that it was ordinary taxpayers and not his buddies from Harvard who should be the chumps. That's it. That's all you need to know, Everything else is smoke, mirrors, Nobel prizes, and huge bonus checks. If you're a dumb computer jock with an overinflated ego, you're bought in, too, because it's a great scam if you can get a piece of the action. Robert. |
#2
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Wall Street Explained
In c.s.i.p.h.c Robert Myers wrote in part:
Tim Geithner, another Harvard guy, just talked Congress' ear off as to why AIG and its counterparties didn't deserve to be the chump. Congress wasn't impressed, and neither was I. In the end Secretary "Tax Evader" Geithner felt that it was ordinary taxpayers and not his buddies from Harvard who should be the chumps. Of the many flaws in your rant, this is the easiest to prove: Tim Geithner never went to Harvard (his degrees were from Dartmouth and John Hopkins U) nor did he work there. -- Robert R |
#3
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Wall Street Explained
On Jan 30, 1:14*pm, Robert Redelmeier wrote:
In c.s.i.p.h.c *Robert Myers wrote in part: Tim Geithner, another Harvard guy, just talked Congress' ear off as to why AIG and its counterparties didn't deserve to be the chump. Congress wasn't impressed, and neither was I. *In the end Secretary "Tax Evader" Geithner felt that it was ordinary taxpayers and not his buddies from Harvard who should be the chumps. Of the many flaws in your rant, this is the easiest to prove: Tim Geithner never went to Harvard (his degrees were from Dartmouth and John Hopkins U) nor did he work there. No, but his career advanced under the tutelage of Larry Summers, Robert Rubin, and Henry Paulson, all closely associated with Harvard. That makes him "a Harvard guy" in my book. Robert. |
#4
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Wall Street Explained
Robert Myers wrote:
On Jan 30, 1:14*pm, Robert Redelmeier wrote: In c.s.i.p.h.c *Robert Myers wrote in part: Tim Geithner, another Harvard guy, just talked Congress' ear off as to why AIG and its counterparties didn't deserve to be the chump. Congress wasn't impressed, and neither was I. *In the end Secretary "Tax Evader" Geithner felt that it was ordinary taxpayers and not his buddies from Harvard who should be the chumps. Of the many flaws in your rant, this is the easiest to prove: Tim Geithner never went to Harvard (his degrees were from Dartmouth and John Hopkins U) nor did he work there. No, but his career advanced under the tutelage of Larry Summers, Robert Rubin, and Henry Paulson, all closely associated with Harvard. That makes him "a Harvard guy" in my book. "Harvard" or not is irrelevant. It's the wealthy-elite (who make all the rules) ripping-off the common man, as usual. The "investments" business is very much like a gambling casino, with the exception that the casino doesn't lie to you about being on your side. |
#5
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Wall Street Explained
On Feb 1, 12:47*pm, chrisv wrote:
"Harvard" or not is irrelevant. *It's the wealthy-elite (who make all the rules) ripping-off the common man, as usual. The "investments" business is very much like a gambling casino, with the exception that the casino doesn't lie to you about being on your side. "Harvard" is like a little mafia in all this, but we are essentially in agreement. These little clubs do matter, and Tim Geithner most definitely has a membership card. They all talk to one another and tell one another how smart and important they are, all the while failing to realize how utterly transparent it all is. Computers, math, and statistics are simply wallpaper to cover over what's really happening. Robert. |
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