Who Killed the Goose?

The prime suspects in my book are the professionals(?) that are called financial engineers. Reality doesn't seem to enter their world. They design exotic derivatives based on theoretical modeling and when reality refuses to fit in their pigeonholes all hell can break loose, which is what we are seeing globally in the ever worsening crisis. It may be that the AIG case will turn out to be just a flyspeck as time reveals more and more of the phony investment instruments. One hears a variety of numbers attached to estimates totalling the possible dimensions but there are no values available on any reality based assignation.

This is why there is such continued pessimism about proposed solutions, how could it be otherwise? Then off goes the mindless media, engaging in the finger pointing game.......and we the public are expected to cast aside common sense and believe that the ones that created the mess can solve the issues......now that is too much of a stretch. Wall Street became totally divorced from the small investors during the past two terms of Bush style economics, reminiscent of how he and his buddies leveraged the Texas Rangers values with taxpayers picking up the tab and the partners pocketing all the gains. It happened over and over in the Bush dynasty.

Aren't we tired of being fleeced? This time the insiders and hedgers and arbitragers have gone too far. The goose is dead......no more golden eggs.


graysmoke