Back when all the attention was focused on Greece, we told of Spain’s imminent downfall, and we still predict that Assicurazioni Generali will emerge as the AIG of Europe when Banco Santander’s MBS derivatives and default swaps finally unravel.
Just as one needs no Svengali to divine the direction of rats fleeing a sinking ship, we easily predicted that the same off balance sheet Voodoo practiced in Goldman’s “Grecian Bend” (of sovereign debt) was going to be uncovered all across the European Union. And starting with London, and now Italy, the dominos topple like so many ”revelations” of smaller scale interest rate and debt protection rackets used to lure U.S. States and Municipalities into the web of deceit and betrayal at the heart of the banker’s derivative gaming tables.
No Ouija Boards, crystal balls or tarot cards are required, just the intestinal fortitude to hold down your lunch as the stench of that maggot-ridden corpse comes welling up every time you take a peek under the coffin lid of the Anglo Dutch financial funerary.
It’s so gangrenous and putrid in there that when the window of that Mercedes sedan rolls down to impose upon the driver of that nearby Astin Martin in the once popular Grey Poupon commercial, the voice in the shadows will instead ask, “Pardon me … but would you happen to have any clear Formaldehyde?”
You Should Also Check Out This Post:
- Keeping Score - GO ENDEAVOR !!!
- Reality: The Final Frontier
- Tradition
- What a Summation
- The Facebook Homeowner Revolution
More Active Posts:
- What's the Big Deal about State Banks - doesn't every State already have one? (4)
- Ready to fund the next big bubble? Carbon Derivatives (3)
- Healthcare (2)
- States be Damned! You get what you DESERVE! (2)
- The Dichotomy of Toxic Debt "Value" (2)
- Other States Take Note: State Bank of Florida Proposed (2)
- Stern's Crony-Corporatism (2)
- Shorter's Last Stand (2)
- Mutually Assured Consequences (2)
- The American Way - an Economic Culture (1)
My comment is not for this particular post. It’s the way I view not only this post but your entire site. KEEP UP THE GREAT WORK!!! Our tax dollars has already made these white collar criminals too wealthy already!
But why should they think any different? We’ve bailed out these people several times over the past century. They knew the taxpayers money would come to the rescue when they entered their ‘den of theives’.