tag:blogger.com,1999:blog-53246864840716464.post3111173254450757727..comments2024-02-29T00:46:38.800-08:00Comments on Washingtons Blog: The Meltdown Of The Hedge Funds - And Its Effect On The Market – Was ForeseeableUnknownnoreply@blogger.comBlogger2125tag:blogger.com,1999:blog-53246864840716464.post-72237302148940265672008-11-08T06:53:00.000-08:002008-11-08T06:53:00.000-08:00My brother in law is a global markets guru for a l...My brother in law is a global markets guru for a large US bank. I saw him at a wedding a couple of months ago and I asked him about the mess on Wall Street. He blamed it all on the hedge funds. I pressed him a little and he stuck to his original answer. I didn't want to insult the guy, I've done that before. But the answer bothered me because it was a very shallow answer to a serious question. Of course people are selling stock! Does it really matter who? There is no question that air is gushing out of the ballon. The question is who broke the credit bubble and why. The elites always profit from credit panics as power is consolidated into fewer hands. And when the bottom does come , years from now, the general public will be licking the floor and the powerful will be buying assets for pennies on the dollar.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-53246864840716464.post-39062074253914289872008-11-07T21:15:00.000-08:002008-11-07T21:15:00.000-08:00Wall Street took two actions in 2005 that tell me ...Wall Street took two actions in 2005 that tell me they were thinking of bankruptcy and the coverup 4 years ago.<BR/><BR/>1) They changed the Credit Card Bankruptcy law to make it nearly imopossible to discharge credit card debt in bankruptcy.<BR/><BR/>2) On 11-10-2005 the Federal Reserve Bank said they would no longer release information on M3 (total) money supply.They knew they would be creating tons of money to paper over their losses.Daniel Fhttps://www.blogger.com/profile/17062898366141413906noreply@blogger.com