The mysteries of complexity for exotic financial instruments
disguise the pure simplicity of their shared origin; namely, gambling games
where the house always wins. Who exactly is the casino host? Is it the exchange,
the brokerage firm or the government regulators? What about the credit rating
agencies, the insurance bookie companies like AIG or the too big to fail
banksters? Surely, the Federal Reserve, foreign central banks or the infamous
Bank of International Settlements, must be the bottom line keeper of the cage.
Read the entire essay from the Global Gulag archives
No comments:
Post a Comment