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Steven Kiel
Steven Kiel
Articles (136)  | Author's Website |



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Rating: 3.1/5 (7 votes)


Taxeshurtme - 5 years ago    Report SPAM

Financials , especially Wall Street firms, may be showing that the investors do not trust them anymore. They have been responsible for bankrupting Iceland, destabalizing Greece, Portugal, Spain, Italy, and giving advice to the USA. I would suspect that the Wall Street firms advised the USA to use off-balance sheet financing - a scary prospect that may sink the USA.

The fact that the USA Government is now an investment bank, run by one of the guiltiest of the Wall Street firms in almost all of the financial crisis of the last decade - what a horrifying thought. Well -educated financial engineers, and lawyers have created a mess and have led the USA into a decline of financial, social, and political values.

The reason that financials are down, is if there is a screwing with the debt ceiling, the dirivative financial products will go haywire, and this may kill investment banks and the insureres who never really had the ability to cover the products that they claimed to insure - they just sold premium and profited - just like they did for mortgage backed securities -

The real sad truth is that it is all smoke and morrors, and the only solution to prevent a major crash is to allow Wall Street to get a political solution, otherwise they have ruined the financial system.

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