Prize

........... Recipient of the 2010 MacDougal Irving Prize for Truth in Market Manipulation ...........

December 22, 2010

Oops

    It was a hippie fairy tale.  Straight out of the Age of Aquarius.

    Matrimonially speaking, Pastor Rainbow was the one who screwed up.  Things did not work out as promised in the nuptials.  Not even close, so the party of the dude’s part went his way, and the party of the flower child’s part hers, and they both found somebody elses and bedded them in unwedded bliss happily ever after, or until one or both cohabiter(s) there got transferred or bored or something, and whoever we‘re talking about now just moved on to more significant others, and dudes and flower children everywhere sat around toking tokes and munching munchies and didn‘t even know what the problem here was, and then ….. Oops, there were kids.

    Oh, wait a minute.  That’s something else we’re writing.  This breakdown in judgment morality piece.  You’re gonna love it.  Anyway …

    Greece.

    Bloomberg News is suing the European Central Bank to disclose “how Greece used credit default swaps to hide its fiscal deficit and helped trigger the region‘s sovereign debt crisis“.  None of the wise guys who actually invented, designed, sweet-talked Greeks into using, sold, made markets in, traded, and subsequently shorted Greek credit default swaps, actually fingering the trigger, are being sued to disclose diddley.

    European Central Bank lawsuits involve passports, shots, airplanes, smelly hotels, funny languages, tiny portions, pat-downs, courts that hate us, lawyers who hate us even more, European central bankers who must really hate us now, and you don’t want to bring credit default swaps up when everybody else over there really, really hates us because of credit default swaps.  In the real world, which Bloomberg does not cover, mobsters a taxi ride away from Bloomberg Tower have been working this con pretty much everywhere in the civilized world and Iceland, including Greece, for years now, so we’re having a WTF moment here.

    Off-balance sheet financing provided by these very same racketeers got great press in the Enron smack down, among others, then added banner headlines to the Financial Apocalypse.  Thugs in the Big Apple pulled that caper off with credit default swaps too, readers who do their homework assignments will confirm.

    What is Bloomberg News going out of town for?  And where’s the U.S. Cavalry been all this time, right freaking now for starters?  Doesn’t anybody even care who the real bad guys are?  Or who they do?  Like, oh I don’t know, Greece maybe.

    WTF is going on?

    And when is it going to end?  Like, how many oops does it take, Man?