 - Last login: 6 hours agoLaodan
- laodan is a guy from Milford, Pennsylvania, USA.
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- Member since Aug 08, 2005
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THE WAY THINGS ARE: The meaning of life is to be found in thinking about what is reality and the beauty of reality is to be found in our DNA's memorization of all forms that have been successfully retained along the four billion years of evolution of the principle of life on Gaia our earth. In the end what I mean to say is that beauty is something objective and what we call ugliness is then simply our unconscientious feel of something evolution did not retain.
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Asia Times Online :: Asian news and current affairs
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Feb 12, 12:45pm
1 review
•http://www.atimes.com/atimes/Global_E...
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Financial models head for scrap heap
in AsiaTimes by Martin Hutchinson
It is now clear that the credit crunch was not due simply to bull market over-optimism, but resulted very largely from the failures of a number of the financial models that have been a staple of the last generation.
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... the subprime mortgage is simply a scam, and the market a giant Ponzi scheme that could survive only as long as more people entered into subprime mortgage contracts, keeping house prices high and mortgage brokers active.
...it becomes obvious that the financial system of the future will look very different from that of the recent past.
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The percentage of financeu2019s value added in the US and world economy will shrink once again, close to the levels of the 1970s and 1980s, around half those of today, and remuneration for bankers, traders and salesmen will be correspondingly more restricted.
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Eventually, perhaps not before 2030, another financial revolution, immensely profitable to its participants, will begin. It is undoubtedly the case however that the new revolution will involve products and sales methodologies far different from those of recent decades.
 Financial models head for scrap heap
Wow!
So much for the wealth generated these last 20 years. It has been, at best, an illusion and, at worst, a scam. But there is a huge difference between illusion and scam. If it was an illusion we can conceive that the actors in the financial game were not really responsible. If it was a scam the actors in the financial game should undoubtedly be penalized and the least that would be expected from them is to return the high incomes they generated during those years of scamming...
But who will be the judge?
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