I know very little about the derivative’s market…
in the NYT a front page story indicates it is run by American banks whose members meet on the third Wednesday of every month…
the customers are complaining they don’t know the price of these products…and now
they, the banks, are proposing a clearing house to handle derivative transactions…
for the betterment of society
i have read it is like insurance and reduces risk…
but unlike insurance companies they were not required to put up collateral,
it was all imaginary money
and the basketball players got paid better
athletic salaries are indicative of the money being spent to keep you entertained
as the old line goes…
more money on miseducation than schools
we can thank bill for taking down the wall between commercial and investment banks in 1999…
-they could now use deposits as leverage
which contributed to so much easy money…
when they said the banking system was going to collapse people would find out the banks spent their savings…
ie no deposits
An economic poem
no need to worry
800 military bases
the empire can only decline
penny stocks
up today
it is not raining
i whisper
remember
take time…
wow i write bad poetry
and if fame
is the new art form
assante is the best director,
actor
screenwriter going
the world is abuzz
the implications
“what people thought was true”
indignation
but tempers have not flared
a different freedom
waiting
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