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Genesis Posts: 71432 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/1214-D....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-07-14 10:30:50
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Tesla Posts: 8179 Incept: 2008-04-03 
Delaware
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Here come the cops ? I would wish. My conjecture is that it's cover so the administration can say they looked into it and found nothing wrong. More whitewashing on tap. ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-07-14 10:46:32
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Teotwawkinow Posts: 60 Incept: 2009-02-02 
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It is a dog-and-pony show. There are simply too many important people involved for it to be anything else. Sorry to dash anyones hopes.
2009-07-14 10:59:42
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Karlmarxghost Posts: 2641 Incept: 2009-01-26
Stealing Your Property
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It's good to be cautiously optimistic but I don't think this will pan out. I mean prosecuting, shutting down, or having light in the CDS market would be like a pimp sewing his hoes mouth and thingy shut. It's not going to happen. The government realizes a lot of the worlds wealth is hidden and controlled in these markets and the government likes this. What I can't figure out is why the government thinks this helps our country. It's not like we are making these banks pay high taxes or anything so tax revenue isn't the issue so what is the benefit to the country? The answer is it doesn't but it benefits the people in government through big campaign donations. The banks bought our politicians hence our country period end of story. ---------- My views are my view and mine alone. Karl or ticker forum does not endorse or necessarily agree with my views. DO not trade on my views or take them personally.
2009-07-14 11:04:46
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Ababeinthewoods Posts: 71 Incept: 2008-12-22
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Isn't this type of high-risk, high-reward market ALWAYS going to be there n some form? It's like the black market... drug, flesh, guns, financial instruments, you name it, there's a market. If you outlaw *****houses, they'll just stop calling them *****houses. What's to be done, in the long run, about desperation plays?
2009-07-14 11:09:46
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Ababeinthewoods Posts: 71 Incept: 2008-12-22
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Oops, I just said exactly what TJ said right above me...
2009-07-14 11:11:39
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Dji Posts: 720 Incept: 2009-04-21
Fleming Island
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hope they are not the Keystone Cops ---------- What goes up Must come Down- Alan Parsons Project THE TRUTH HURTS! -Dji
2009-07-14 11:27:36
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Reza30 Posts: 233 Incept: 2009-02-15
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Quote:The DOJ is right to be looking into this, but are they looking in the right places and with the right intent? Those are exactly my thoughts. 
2009-07-14 12:30:26
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Berkleyreindeer Posts: 560 Incept: 2008-07-22 Minneapolis , MN
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if there is a cop on the block, the crooks clean up their act quickly or go somewhere else. the question quickly becomes, how many cops can you put on the street. I'm of the opinion that any daylight, even if filtered, is an improvement.
---------- It'll get worse. Just wait.
2009-07-14 12:30:39
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Parcontre Posts: 200 Incept: 2007-12-02
Fort Worth
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This article from IRA is worth another read, particularly when he talks about the use of side letters. http://us1.institutionalriskanalytics.co.... ---------- Wherever fate my vessel steers, that image never disappears. In times of joy and times of tears, her song still echoes in my ears.
2009-07-14 13:18:34
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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Yeop - I've brought that one up several times.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-07-14 13:20:03
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Bozonian Posts: 14033 Incept: 2007-09-01
PFT - Pure F'n Tin
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I suspect the good news recently with the banks is what's going on. There has probably been pressure not to mess with the banks until they are stable and to let them **** and pillage traders instead of taxpayers. Traders are "fair game". Now that that need is over, time to regulate. Or, someone really important may have just gotten around to reading the Tickers. ---------- I'm so depressed about outsourcing I called the suicide hotline and got a call center in Pakistan. They got all excited and asked me if I could drive a truck. Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
2009-07-14 13:26:53
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Parcontre Posts: 200 Incept: 2007-12-02
Fort Worth
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Unbelievable, absolutely unbelievable. This thing is going to blow up so badly, I hate to think of all the ramifications. I guess it's time to retire to the farm, and stock up on canned goods and ammo.
---------- Wherever fate my vessel steers, that image never disappears. In times of joy and times of tears, her song still echoes in my ears.
2009-07-14 13:36:36
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Leaok Posts: 8 Incept: 2009-06-15 Tulsa Oklahoma
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Karl, have you seen this? http://www.glennbeck.com/content/article....
2009-07-14 16:21:30
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Genesis Posts: 71432 Incept: 2007-06-26
KD^2
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A long time ago (when it happened), yes.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-07-14 16:22:00
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Kwl88 Posts: 304 Incept: 2009-04-16 KC, MO
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....hey, whaddya know, I just had $9 trillion dollars land into my checking & savings account!! Happy Daze are Here again!  
2009-07-14 17:53:09
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Rutben Posts: 900 Incept: 2007-07-27
Phoenix, AZ
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Goldman Sachs runs Markit! Elaine Supkis posted this today citing her column of November 15, 2007. “CDS IndexCo (the purveyors of the mystical ABX, CMBX, CDX indexes, among others) was sold yesterday (Nov14th) to Markit Investments, the hand-in-glove marketer of the information on the web for these prices. The Chairman of the board of CDS IndexCo, Brad Levy, (also the Managing Director of eBusiness Group at Goldman Sachs)will be likely to continue in his post of “managing conflicts of interest” for both Goldman and the ABX et al indicies”. http://emsnews.wordpress.com/2009/07/15/....
2009-07-15 22:27:20
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Ark Posts: 453 Incept: 2009-07-10
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During the Clinton Admin., in 2000, Congress passed the "Commodity Futures Modernization Act", which barred states from regulating Credit Default Swaps. The vote was 275 Yea and 66 Nay. Do the ramifications of this law that Congress passed have much to do with these DOJ investigations? If so, a lot of these Congresscritters are still in office.
2009-07-15 23:16:12
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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No doubt, congress also prevented the state AGs from preventing usury in CCs and mortgages. A group of AGs actually tried to stop the subprime crap.
---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-07-15 23:26:52
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Ark Posts: 453 Incept: 2009-07-10
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Yeah, I know Laura. IIRC, it wasn't just a "group" of Attorney Generals, it was every AG from each of the 50 States. So, at what point can we hold Congress responsible for these criminal votes that rip the **** out of the States, which then proceeds to rip the **** out of the country as a whole? Or, conversely, how much does the fact that Congress made these criminal votes interfere with justice being served? This is a real rats nest that's got to be fixed or we can't proceed.
2009-07-15 23:37:53
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Laura Posts: 3153 Incept: 2008-05-05
Florida Space Coast
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Well, unfortunately, Crist and the Florida legislature hasn't done jack **** for the little person EITHER. All the insurers have been given cart blanche to rip Floridians off. We have proof by Charlie (hurricane) that being in the middle of the state is ZERO protection from hurricanes, but, they insist on charging by zones and it's always an increased premium. I better stop, I'm in a very ****y mood tonight, what happened at work has me seeing RED and I can hardly contain myself I'm so mad.
---------- Karl's just a shill for Big Math. 1LumpSum Honey, where's the AK ? Tyler Durden My Ford focus can get me from point A to point B just as good Tigger's Cadillac. And my back door window is not broken. Mliu
2009-07-16 00:15:38
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