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Meanwhile, the markets were thrilled by Geithner's plan. PIMCO already announced their intention to participate "attracted by the potential double-digit returns". You have to wonder, won't these people ever learn?
Of course there is another way of looking at yesterday's announcements. The world's largest Ponzi scheme that is Wall Street, just got an order of magnitude larger by its latest entrant, the US Treasury. By now, we all know how pyramids work. A new entrant means that earlier ones can redeem their money and be made whole. Yeah, that thought would be enough to justify a 7% rally in the S&P yesterday (not quite double-digit but still)...
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When Reality Beats Everything Else
Two corporate sector veterans (although the picture maybe a little predated) watch in awe "From the Balcony" as the world is falling apart.
True stories from Finance and beyond, that no one could possibly make up, and would normally leave the rest of us speechless, along with comments in the immortal spirit of the legendary Waldorf & Statler.
True stories from Finance and beyond, that no one could possibly make up, and would normally leave the rest of us speechless, along with comments in the immortal spirit of the legendary Waldorf & Statler.
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Episode Guide
- February 2010 (3)
- January 2010 (3)
- December 2009 (5)
- November 2009 (15)
- October 2009 (14)
- September 2009 (5)
- August 2009 (8)
- July 2009 (17)
- June 2009 (14)
- May 2009 (35)
- April 2009 (68)
- March 2009 (44)
- February 2009 (39)
1 comment:
Is there any scheme that is not Ponzi related? I guess even public insurance schemes are of this kind.
We pay for the older investor (or generation) and hope the new one will pay us.
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