Thursday, February 19, 2009

Cooking Books

Here is a little recipe everyone is sure to love.
What Cooked the World's Economy?

Sorry, but that's drivel. In fact, what we are living through is the worst financial scandal in history. It dwarfs 1929, Ponzi's scheme, Teapot Dome, the South Sea Bubble, tulip bulbs, you name it. Bernie Madoff? He's peanuts.

Credit derivatives—those securities that few have ever seen—are one reason why this crisis is so different from 1929.
Later in the article the Village Voice gives us a great recipe for home style cooked goose. Or is it glaized pork? Fat cat ala ching?
What is going on now is a massive rip off, and if the banks, hedge funds and corporations involved, were prosecuted rather than bailed out, the government could gain around 30 trillion dollars.
30 trillion dollars? That's a spicy meatball!

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