America Is Not The Land Of The Free But One Of Monopolies So Predatory They Imperil The Nation

Discussion in 'Politics' started by skews13, Dec 1, 2019.

Thread Status:
Not open for further replies.
  1. Toddsterpatriot
    Offline

    Toddsterpatriot Diamond Member

    Joined:
    May 3, 2011
    Messages:
    54,826
    Thanks Received:
    6,677
    Trophy Points:
    1,830
    Location:
    Chicago
    Ratings:
    +30,344
    When Louis Ranieri, a bond trader for Salomon Brothers, created them and was able to skirt regulation on them.

    What regulation did he skirt?
     
  2. Dragonlady
    Offline

    Dragonlady Designing Woman

    Joined:
    Dec 1, 2012
    Messages:
    20,601
    Thanks Received:
    4,398
    Trophy Points:
    290
    Location:
    Niagara Escarpment
    Ratings:
    +19,790
    Why is this the first place your tiny mind goes to. Is this the only track you know?

    Small companies are far more innovative and nimble than large conglomerates. If a small business owner has an idea, he simply tries it out, and if it works he goes with that, and redirects his resources to bringing this innovation to market.

    If you have an idea in a large corporation, you have to submit the idea to management and "sell" them on the value of this innovation. Then you have to get the company to allocate the resources you need to make it happen. You may have to go through several layers of management in order to make this happen, and those above you are going to want to add their own ideas to your project as you go.

    The two most innovative entrepreneurs of the past 100 years, Bill Gates and Steve Jobs, both started out with nothing but their ideas, and built from there. But Jobs was tossed out of Apple Corp. because he doesn't play well with others. When the company started to fail because they had no way to innovate without him, they brought him back, and pretty much left him to his own devices.

    IBM used to be one of the most innovative companies in America. Once they became a behemmouth, they became less innovative. What was the last great innovation coming out of IBM, or Hewlitt Packard?

    The problem has become that the largest corporations are gobbling up the successfully innovative companies, and that adds all of those layers of management to stifle innovation. I was hired by one such innovator. His small but very successful project management company which used a proprietary computer app to cut construction costs, was acquired by the largest real estate management company in the world. He made millions on the sale, and was now a Vice-President, in charge of the division he once owned. The sale gave him the resources to take his innovation world wide, but . . . He then went on to note that he had lost his automony. He had to conform to a different corporate culture and ethics. He was expected to "go along to get along" in corrupt countries. Given his druthers, he would not have even entered such markets. It was no longer his choice. His options were now to take the money and run, abandoning his "baby". There was a 5 year non-compete clause so he couldn't just use the money to "start over", and his great invention now belonged to someone else who would continue to profit from it, or stay in a corporate culture that made him uncomfortable.

    But I also know the man who invented the technology to make the wireless, hand held credit and debit cards machines used in restaurants secure from hacking. I did his patent application. OkiData in Japan offering to make him a "very, very rich man" for the rights to his patent, but he wanted to exploit the technology himself. He had neither the capital, nor the ability to do that and ultimately went bankrupt, losing the rights to his invention in the bankruptcy when it was sold to the highest bidder to pay his creditors. One of the saddest business stories I know of.
     
  3. Theowl32
    Offline

    Theowl32 Platinum Member

    Joined:
    Dec 8, 2013
    Messages:
    16,944
    Thanks Received:
    7,305
    Trophy Points:
    1,065
    Ratings:
    +24,986
    What caused the meltdown?

    You say this didn't have anything to do with it.





    So, the government putting pressure on banks to make affirmative action loans.

    Call it what you want, that is what that was.
     
    • Winner Winner x 1
  4. Mac1958
    Offline

    Mac1958 Diamond Member

    Joined:
    Dec 8, 2011
    Messages:
    62,790
    Thanks Received:
    11,088
    Trophy Points:
    2,060
    Location:
    Just another nut on a message board
    Ratings:
    +52,326
    Yes, that's the talk radio version of what happened.

    It's wrong, and ignores an incredible amount of facts, but I'm familiar with the fantasy.

    This is my profession. I've studied this. I still do. You're a Trumpster. I'll go with my version.
    .
    .
     
  5. BrokeLoser
    Offline

    BrokeLoser Gold Member

    Joined:
    Sep 9, 2016
    Messages:
    18,280
    Thanks Received:
    3,296
    Trophy Points:
    290
    Location:
    MEXIFORNIA
    Ratings:
    +20,239
    The common business practices you describe are nothing new in the world...this shit has been happening since the beginning of commerce / trade. Only recently have such practices been exploited thanks to social networking / the internet and louder cries for socialism from the LefTarded beggars.
     
  6. Theowl32
    Offline

    Theowl32 Platinum Member

    Joined:
    Dec 8, 2013
    Messages:
    16,944
    Thanks Received:
    7,305
    Trophy Points:
    1,065
    Ratings:
    +24,986
    What caused it Mac!?

    Be specific.
     
  7. BrokeLoser
    Offline

    BrokeLoser Gold Member

    Joined:
    Sep 9, 2016
    Messages:
    18,280
    Thanks Received:
    3,296
    Trophy Points:
    290
    Location:
    MEXIFORNIA
    Ratings:
    +20,239
    You much prefer the far more complex, blurry version of the “meltdown” for obvious reasons....BUT, anyone even half sane knows that Billy Blowjob was at the root of it all, he created the monster and breathed life into subprime lending....THE END
     
    • Funny Funny x 1
  8. Mac1958
    Offline

    Mac1958 Diamond Member

    Joined:
    Dec 8, 2011
    Messages:
    62,790
    Thanks Received:
    11,088
    Trophy Points:
    2,060
    Location:
    Just another nut on a message board
    Ratings:
    +52,326
    .
    I know you won't bother, but I laid it all out here, because I'm done trying to educate Trumpsters who are afraid to learn:

    The Meltdown, explained

    Now, whatever you do, avoid educating yourself.
    .
     
  9. Mac1958
    Offline

    Mac1958 Diamond Member

    Joined:
    Dec 8, 2011
    Messages:
    62,790
    Thanks Received:
    11,088
    Trophy Points:
    2,060
    Location:
    Just another nut on a message board
    Ratings:
    +52,326
    Toddsterpatriot, to answer your questions;

    When Louis Ranieri, a bond trader for Salomon Brothers, created them and was able to skirt regulation on them.

    What regulation did he skirt?

    NONE. THAT'S THE POINT. Solomon was able to create and sell these things without the SEC or FINRA giving their blessing. They went straight from the mortgage desk into shit securities. Do you understand?

    ===========================

    Of course it would have.

    Feel free to post the portion of Glass-Steagall that prevented crappy mortgages from being written or sold.

    There WAS none. This is about SECURITIZED mortgages, not mortgages. Those are TWO DIFFERENT THINGS. Didn't you know that???

    ===========================

    AIG wouldn't have been selling swaps WITH NO RESERVE REQUIREMENTS

    Or the portion of Glass-Steagall that applied to AIG.

    These kinds of swaps didn't exist when GS was written. But they wouldn't have been needed, since the banks couldn't securitize mortgages IN THE FIRST PLACE. Is this a joke???

    ===========================

    The banks would not have been able to BET AGAINST the SAME SHIT SECURITIES they were CREATING and SELLING to CLIENTS.

    When you sell a synthetic, by definition you're "betting against it".

    No, it's not. The banks were SHORTING them and BUYING SWAPS on them. Do you know that means? And did you know that John Paulson and Goldman created shit securities SPECIFICALLY TO FAIL, sold them, and then shorted them? Paulson made TWO BILLION on that one. Did you know that?


    Try this stuff on someone else. I'm done trying to educate Trumpsters on this. You guys DON'T WANT to know.
    .
     
    • Funny Funny x 1
  10. LordBrownTrout
    Online

    LordBrownTrout Gold Member

    Joined:
    Nov 25, 2007
    Messages:
    26,533
    Thanks Received:
    4,546
    Trophy Points:
    280
    Location:
    South Texas
    Ratings:
    +17,539
    Not a thing. The next collapse will usher in the global mark/currency.
     
Thread Status:
Not open for further replies.

Share This Page