Monday, July 7, 2014

Enron Scams on Wall Street?

Wall Street's Major Investment Houses Suddenly Look like Enron Scam! It Turns Out that Major Wall Street Firms Were Buying and Selling Happiness Bonds. it is No Wonder They Say They Need New Capital to Survive Lex Loeb Contributor Network . Enron was a trading company more than it was a real energy production company when it went belly up. It was modeled after Wall Street Investment Houses like Goldman Sachs and Morgan Stanley. When all the euphemisms of "need for recapitalization" for the companies on wall street started to be parroted by the financial news media it started revealing a bigger version of Enron than ever before imagined. Wall Street has been selling Feel Good Bonds , Happiness Bonds and more Sizzle and Fizzle than Madison avenue. Over the years the biggest banks were willing to give up collateral and buy and sell the Happiness , Sizzle and Fizzle. The US Treasury and the Bush administration would love to be able to print happiness instead of US dollars the way Goldman Sachs was doing it. Now with a resolution trust company being devised to save Goldman the US Government is looking to control the happiness bond market traded for a lot of US printed cash. This is not good from any financial stand point. The idea that Washington is going to be able to save Wall Street now is absurd. If it turns out to be a major Enron like scheme the assets of the companies the Washington plans to save are nil and the taxpayer should not be involved. There is plenty of real capital in the United States and the World and no way should it be taxed to pay to keep jobs for all the useless MBA mandarins that universities churn out. When you see banks and brokers interlocked together holding an empty bag of happiness bonds asking for more money to save their important economic operations you might as well be going a street con artist and offering him your gun so he can ask you for your watch and wallet. Banks are supposed to have real capital reserves not just computer codes for happiness. These banks look like phantoms of the imagination created by con artists. The real estate packaged loans get the blame now for being the cause of the banking crisis but underlying that is how the loans were generally collateral free. Everyone in the real estate industry knows that security comes in high loan to value ratios . The problem is that the US government favors easy terms for home owners which means more and more borrowing for homes and less and less savings invested. That is how these financial instruments immediately become financial happiness home bonds. Wall street banking firms were taking the happiness out of the happiness home bond and selling the happiness separately to other banks and sending the home parts of the bond to Freddie mac and Fannie Mae. So many firms ended up sitting on assets that consisted of nothing more than happiness. The Buddha sitting under the sacred tree never had that much happiness. But the Buddha was not in business where one day he might need cash. Anyone want an MBA instead of Cash when you withdraw your money from a bank? .! It Turns Out that Major Wall Street Firms Were Buying and Selling Happiness Bonds. it is No Wonder They Say They Need New Capital to Survive Lex Loeb, Yahoo Contributor Network . Enron was a trading company more than it was a real energy production company when it went belly up. It was modeled after Wall Street Investment Houses like Goldman Sachs and Morgan Stanley. When all the euphemisms of "need for recapitalization" for the companies on wall street started to be parroted by the financial news media it started revealing a bigger version of Enron than ever before imagined. Wall Street has been selling Feel Good Bonds , Happiness Bonds and more Sizzle and Fizzle than Madison avenue. Over the years the biggest banks were willing to give up collateral and buy and sell the Happiness , Sizzle and Fizzle. The US Treasury and the Bush administration would love to be able to print happiness instead of US dollars the way Goldman Sachs was doing it. Now with a resolution trust company being devised to save Goldman the US Government is looking to control the happiness bond market traded for a lot of US printed cash. This is not good from any financial stand point. The idea that Washington is going to be able to save Wall Street now is absurd. If it turns out to be a major Enron like scheme the assets of the companies the Washington plans to save are nil and the taxpayer should not be involved. There is plenty of real capital in the United States and the World and no way should it be taxed to pay to keep jobs for all the useless MBA mandarins that universities churn out. When you see banks and brokers interlocked together holding an empty bag of happiness bonds asking for more money to save their important economic operations you might as well be going a street con artist and offering him your gun so he can ask you for your watch and wallet. Banks are supposed to have real capital reserves not just computer codes for happiness. These banks look like phantoms of the imagination created by con artists. The real estate packaged loans get the blame now for being the cause of the banking crisis but underlying that is how the loans were generally collateral free. Everyone in the real estate industry knows that security comes in high loan to value ratios . The problem is that the US government favors easy terms for home owners which means more and more borrowing for homes and less and less savings invested. That is how these financial instruments immediately become financial happiness home bonds. Wall street banking firms were taking the happiness out of the happiness home bond and selling the happiness separately to other banks and sending the home parts of the bond to Freddie mac and Fannie Mae. So many firms ended up sitting on assets that consisted of nothing more than happiness. The Buddha sitting under the sacred tree never had that much happiness. But the Buddha was not in business where one day he might need cash. Anyone want an MBA instead of Cash when you withdraw your money from a bank? .

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