Ya ever wonder how come it was really smart, patriotic people like Warren Buffet did not have the ability to foresee or head it off.
Or Bobby Rubin supposed to be the wise man of Citibank did not know what is a Liquidity Put. It's OK that I dont know, or not OK, but I was not in charge of Citibank, but now he says, he didnt know.
How come all the smart bankers of Wall Street did not head it off.
Or chicks like that high born Brooksley Born, who has a good family tree and connections to finance and law in America, if she was so sure about derivatives way back when, how come she was not effective in heading off or ameliorating the crisis.
How come nobody said how come ya charging all these humongous interest rates to modest income people.
I remember that looney Larry Kudlow, who they say used to take drugs, bleating over and over, when are they gonna Liquidate the Paper.
I dont think Larry Kudlow created the problem, but he unwittingly let out the real reasoning behind the cozy complicity and genial acceptance of news media, particularly people who present themselves as financial hotshots, on the genesis of this fiasco.
They all knew there would be a melt down, what they thought is that the big honchos would Liquidate the Paper, the poor and modest income people would lose their homes and the big honchos would have oodles of lovely real estate and liquidated cash to play with all over again.
didnt quite work out that way, did it.
This time, when Main Street got acidity, Wall Street got an ulcer.
That's how it looks.
Bye bye
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