Tuesday, July 6, 2010

Why I Call it Neo-Feudalism.

From a blog on the new Plutocracy (I don't recall that all 4 had perfect records in Q1):

Goldman Sachs, JPMorgan Chase, Citigroup AND Morgan Stanley ALL had PERFECT quarters in Q1, not having a single loss in the markets in over 250 combined chances with GS alone making $9.74Bn in trading profits without having a single bad day. Let’s assume GS was the best of the best and that they hedged so well that they are normally up 7 out of 10 days using their system. What are the odds of a single firm having 63 consecutive wins, EVEN if they already have a 70% advantage? ONE IN 5.7 BILLION! And don’t forget, Q1 was a wild quarter with huge ups and huge downs – yet they were NEVER wrong. We are blessed, on this planet Earth, with a population of 6 Billion, to be in the company of 4 firms that have pulled this off AT THE SAME TIME. What will it take to wake people up to this scam?

When you put it this way, it's clearly nothing but massive sociopathic looting.

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