You've heard of an SUV? Perhaps you haven't heard of another vehicle; in this case, a structured investment vehicle, or SIV. It's one of those new-fangled 'financial instruments', like CDSs and CDOs, that have made banking both so profitable and so volatile. Hence the 2008 subprime mortgage bubble collapse. And more to come; since no one in the banking business seems to have learned anything from the first go-round with these deceitful 'instruments'.
A good word for them. But first, to report on the latest in this field.
from 2012: What's the 'real' truth?: 'The Last Mystery of the Financial Crisis - by Matt Taibbi, Rolling Stone' - June 20 (Source: Reader Supported News)
(The ratings agencies were as corrupt as the banks themselves. They "sold out in an effort to get business…having traded science for market share…Moody's and S&P, have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash. In incriminating e-mail after incriminating email, executives and analysts from these companies are caught admitting their entire business model is crooked…the financial crisis happened because AAA ratings stopped being something that had to be earned and turned into something that could be paid for…"
Last paragraph of his report:)
"What happened to the ratings agencies during the financial crisis, and what is likely still happening within their walls, is a phenomenon as old as business itself. Given a choice between money and integrity, they took the money. Which wouldn’t be quite so bad if they weren’t in the integrity business."
kibitzer3 says:
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Matt Taibbi at work doing what he does best: investigative journalism.
And since he is nearly alone in that business these dark ‘presstitute’ days, he must be recognized and saluted for his work to the utmost. And Rolling Stone for publishing his sleuthful work.
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As to my comment on the apt wording of these financial 'instruments'. They are very much like the story told about wolves, that if licking something sharp, like a knife, they will continue to lick it until they bleed to death, because they haven't the sense to figure out what's going on, that it's their own blood they're tasting. The simile isn't perfect, because it's the public's money that these hot-shot new-banker types are playing their games of Monopoly with. But the result is the same: They will go down with their financial vehicle; be it a bank or a rating agency, that has sold out to the Dark Side.
And so they should go down. The lot of them. For betraying the ideal - i.e., investment banking support for honestly enterprising individuals - for the pragmatic - i.e., simply making as much money, as in bonuses, as they can. Before the whole thing goes south.
Which it is now going to do anyway. In part by their disgusting shenanigans. But in part as well, because it is, simply, time.
To call a halt to the Game. Of 3D life. Of its seeming reality; its apparent separation from our roots in Spirit. An experience that was vouchsafed us to let us see what we would do with the gift of free will. Of thinking ourselves the be-all and end-all of existence. Which is now so full of lies, and damned lies, and more lies, that it couldn't continue longer, on the path that it was on, if it had wanted to. It would have imploded into the end-game that it was.
It has served its purpose. We have discovered what we are truly 'made of'. Some of us have surrendered to the Dark Side more than others, for example.
But a note of caution in this matter. There is also the element of Karma to be considered, and factored in. Whereby some souls who are currently looking like very dark souls are not actually 'caught up in their act,' are just playing that part in their current incarnation.
To give the rest of us something to measure our progress by.
Our progress back into the fullness of the Light, and Love, of our Creator.
So: beware of making judgments.
It - the Truth of all things - will all come out in the wash.
As we prepare for our next steps, up the spiral staircase to our individual next levels of the Return to Source that we are all involved in.
The wiser for the experience in seeming separation.
Hopefully.
That is, after all, the point of the exercise.
Or have you (the 'you' currently in incarnation on Gaia) forgotten.
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