Comment: Banker Transparency:"You have to lie."

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In reply to comment: Silver & Gold: You Have to LIE! (see in situ)

Banker Transparency:"You have to lie."

Humorous link.

Some would have you believe to make bankers do an honest day's work, we must saddle them with regulations. No, I say. Tis folly.

  • They would sell those saddles. Maybe keep the regulators for themselves.
  • They would sell the promissory notes they made up to consummate the deal.
  • They would sell derivatives, betting the fools that bought the saddles could not pay.
  • They would hypothecate what wasn't readily available for sale as if it were.
  • Then they would sell another round of derivatives betting against sales of non existent items which weren't there, sure to make another profit when folks found out.

Sorry to trouble you.

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul