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Author Topic: Stealing more money!!!  (Read 1643 times)
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WhiskeyGirl
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« on: November 09, 2011, 06:20:08 AM »

"Who would want to work in America? This is what the taxpayers pay for!"

No matter which network you listen to, it all seems to be about stealing more money from Main Street.  Gotta keep the special interests ('middle class', unions, welfare recipients, illegal aliens, foreigners, job rotation families) in jobs.

What about the rest of us?  Generations stuck with all the debt?  Where's our free ride?

Youtube has a series of videos on how to get 'free' stuff taxpayers are paying for.  This is what it's all about.  I believe here numbers are per person.  Who wouldn't want to get thousands a months 'free' from the taxpayers.  BTW!!!  California has the best benefits.

"WATCH: Woman Explains How To Get Free Stuff Using Taxpayer Funded EBT"
http://nation.foxnews.com/welfare/2011/11/08/watch-woman-explains-how-get-free-stuff-using-taxpayer-funded-ebt

Use your EBT to pay for free fast food?  Use at liquor stores. 

"It's free swipe your EBT."
http://nation.foxnews.com/welfare/2011/11/08/watch-woman-explains-how-get-free-stuff-using-taxpayer-funded-ebt

"It's free swipe your EBT."

There are more at the site.

This is what they need to steal/tax/confiscate more money for?
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #1 on: November 09, 2011, 06:28:56 AM »

Not enough money for Wall Street?  Foreign bankers?

Invent CDS and derivatives!!!  Taxpayers will bail out your gambling habits.

To refresh your memory -

Quote
Insurance On A Home You Don't Own

"I think Mae West said it very, very well when she said, 'I used to be Snow White, but I drifted,' " says Satyajit Das, a risk consultant who was around when credit default swaps first appeared.

For 30 years, he has worked with hedge funds and bankers all over the world as a sort of a financial hired gun. He saw first hand how what started as insurance morphed into something else entirely. In the 1990s, he says, he was a fan of credit default swaps.

"But by about 2003-2004, I was starting to get nervous," Das says. "I could see the market had gone from a very legitimate purpose to something which was much more racy and interesting but also much more dangerous."

He says along the way, it stopped being insurance.

"The line between investing and speculation or gambling in financial markets is always a pretty gray one," he says. "And speculation is always a motive."

So, how did we get from one of the safest activities on the planet — insurance — to one of the riskiest — gambling? There's one key difference between an insurance policy and a credit default swap.

"The way that I first described the credit default swap is, you own the bond and you want to transfer the risk to someone else. But what if I want to buy protection but I don't own the bond?" Berman says.

But isn't buying protection on a bond you don't own like buying fire insurance on a house that's not yours?

"It is exactly like buying insurance for a house you don't own," Berman says. "So it's like you took out fire insurance on your home, and I also took out fire insurance on your home, and a thousand other people took out fire insurance on your home.

"And when that happens, what you're doing is, you're betting on the house."

So, a CDS allows people to get paid off by insuring something they don't own — not a house in this case, but a bond.

(snip)

read more here - http://www.npr.org/templates/story/story.php?storyId=96333239

Real insurance has underwriters.  They shouldn't be insuring dead people, folks who died years ago, and paying off.  They recognize bad risks.

Real insurance wonders why an average family would suddenly insure their child for millions.  What happens when junior or sissy turns up dead two months later?  Do they pay off or do they investigate?

Where are the smart people in Washington?

How much did any of those parties to the CDS or derivatives put up?  Risk?  Pay?  $800 TRILLION dollars?  Who has $800 TRILLION dollars?

Anyone on the payout side (Federal Reserve, Treasury, Congress, White House) ask how much all those counterparties actually spent on those bets? 

'Gee, you put up $5 and you want us to pay you how much?  Let me clean my ears out, I must be hearing somthing...'  Did anyone in Washington have this conversation before they taxed/borrowed/stole/confiscated from future generations to bail out these risky gamblers?

Why do they allow them to bet on dead people?  Failed debt ridden countries?

Why would they ever allow derivatives and CDS to get paid off before depositors?  Why would they ever pay off all that risky business?  Consider it legal?

I think they need to unhook the taxpayer pocket from all these get rich / rip-off schemes that involve taxpayer money.

Who put up $800 TRILLION (or so) to take a risk on any debt ridden country, including the US?  Maybe they just want the assets?  Parks, buildings, airports?

just my humble opinions
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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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