Where's the Outrage?

[...] the clip of the week.  Every week there is a clip which dominates the news.  This week it was Rick Santelli of CNBC.  I dismantle Rick#8217s rant and nothing but pro-business garbage that it is.  For reasons, [...]

[...] Santelli#8217s rant that got so much publicity may have been planned.  Right wing billionaires were probably behind [...]

Actually this idea that America dwells in the land of a free fair market is not totally true. You will need a cup of strong coffee and an open mind to read on. For me Dr. Thomson is on the target that identifies one of the best kept corruption centers in the world.

These trading pits in Chicago are as classic as the New York Stock exchange or for that matter any exchange in the world. Don’t forget the Kong Kong market that was an historical transfer of money, real-estate, and power from the free Anglo-American economy to the Asian Middle East economy in 1997.

Most of the ding dongs, like the Fox News Beltway Boys would like you all to think the economic slide American’s are going through just happed when Obama took office. It started a whole lot earlier than that.

The Hong Kong market beats the Chicago market by tens of trillions of dollars per year, around ninety trillion, for me a whole lot more. In contrast estimates are the Chicago market trades some where like sixty trillion a year. Ladies and Gentlemen of Out-Rage do you really think Hong Kong rules are like ours? That’s funny.

It gets even better; Chicago trading pits have been the center of political, power, and money manipulation for decades. And since the Republicans have lost control of the Legislature and the Governors office things are really popping to get back in control.

Illinois has been the Cash Cow for Republican political mischief for decades. You don’t need an MBA in economics to be a floor trader. Heck a high school drop out can be a floor trader with the right connections, and money.

Do a little Googling around and you draw same conclusion I do, this stuff is wide open for greed and corruption.

Here is another PDF file, hope the address works, it is a long one, and it tells a lot about the market not just Chicago. If one searches around in the Illinois rules for trading there are more surprises, heck there doesn’t appear to be any requirement for citizenship.

This PDF file is called “Brokers Bagman and Moles” with a chapter on secrets of the pit.

http://books.google.com/books?id=NLLRjRVY7NcC&pg=PA292&lpg=PA292&dq=what+is+the+rule+to+be+a+floor+trader+in+illinois&source=bl&ots=b59b4LX11b&sig=ClPy4EcnSNS5qSy7KKm54b083pg&hl=en&ei=jnKhSeLLL6CeNdvx3dUL&sa=X&oi=book_result&resnum=2&ct=result#PPA3,M1

My point is if you think these traders are bunch of “goodie two shoes” that serve the electorate customer, think again.

Dr. Thomson is right on target but a better way to look at this stuff is as if Obama is tooling around in sacred territory of finance were only the big shots dare you to tread. But now the fat cats find themselves under the light and fair play of a new age economic doctor, Obama working through and economic root canal or perhaps more like a colon flush. The pipes that connect all this with social responsibility Obama is trying to build in the free market are long over due.

Many situations may have to configure some what different then what the far cats are used too, especially without an anesthetic or constructional contracts that are built in social good favor for the citizen, here especially to move the ideal of being poor into no longer existing is difficult for hard line Neo-Con’s to accept. For me this is one of the key issues to eliminate terror as we know it. many experts know that is the solution.

I would like to share a paragraph from the PDF “Brokers Bagman and Moles” it might encourage you to read it. It follows:

“No ear of corn, no pound of pork, no U.S. Government Bond, no share of stock, no deutsche mark, no yen, no pound, no franc, no nothing is price around the world with out Chicago trading pits having their say. New York Stock Traders, Iowa farmers, Montana ranchers, London Gold bugs, Tokyo’s bankers, Saudi oil barons all come to Chicago to do business… “And you don’t think Blagojevich or Rollin Burris don’t know this? Or the media???

Open up your mind, believe it, we never had a real free market… and the fight is on.

Actually this idea that America dwells in the land of a free fair market is not totally true. You will need a cup of strong coffee and an open mind to read on. For me Dr. Thomson is on the target that identifies one of the best kept corruption centers in the world.

These trading pits in Chicago are as classic as the New York Stock exchange or for that matter any exchange in the world. Don’t forget the Kong Kong market that was an historical transfer of money, real-estate, and power from the free Anglo-American economy to the Asian Middle East economy in 1997.

Most of the ding dongs, like the Fox News Beltway Boys would like you all to think the economic slide American’s are going through just happed when Obama took office. It started a whole lot earlier than that.

The Hong Kong market beats the Chicago market by tens of trillions of dollars per year, around ninety trillion, for me a whole lot more. In contrast estimates are the Chicago market trades some where like sixty trillion a year. Ladies and Gentlemen of Out-Rage do you really think Hong Kong rules are like ours? That’s funny.

It gets even better; Chicago trading pits have been the center of political, power, and money manipulation for decades. And since the Republicans have lost control of the Legislature and the Governors office things are really popping to get back in control.

Illinois has been the Cash Cow for Republican political mischief for decades. You don’t need an MBA in economics to be a floor trader. Heck a high school drop out can be a floor trader with the right connections, and money.

Do a little Googling around and you draw same conclusion I do, this stuff is wide open for greed and corruption.

Here is another PDF file, hope the address works, it is a long one, and it tells a lot about the market not just Chicago. If one searches around in the Illinois rules for trading there are more surprises, heck there doesn’t appear to be any requirement for citizenship.

This PDF file is called “Brokers Bagman and Moles” with a chapter on secrets of the pit.

http://books.google.com/books?id=NLLRjRVY7NcC&pg=PA292&lpg=PA292&dq=what+is+the+rule+to+be+a+floor+trader+in+illinois&source=bl&ots=b59b4LX11b&sig=ClPy4EcnSNS5qSy7KKm54b083pg&hl=en&ei=jnKhSeLLL6CeNdvx3dUL&sa=X&oi=book_result&resnum=2&ct=result#PPA3,M1

My point is if you think these traders are bunch of “goodie two shoes” that serve the electorate customer, think again.

Dr. Thomson is right on target but a better way to look at this stuff is as if Obama is tooling around in sacred territory of finance were only the big shots dare you to tread. But now the fat cats find themselves under the light and fair play of a new age economic doctor, Obama working through and economic root canal or perhaps more like a colon flush. The pipes that connect all this with social responsibility Obama is trying to build in the free market are long over due.

Many situations may have to configure some what different then what the far cats are used too, especially without an anesthetic or constructional contracts that are built in social good favor for the citizen, here especially to move the ideal of being poor into no longer existing is difficult for hard line Neo-Con’s to accept. For me this is one of the key issues to eliminate terror as we know it. many experts know that is the solution.

I would like to share a paragraph from the PDF “Brokers Bagman and Moles” it might encourage you to read it. It follows:

“No ear of corn, no pound of pork, no U.S. Government Bond, no share of stock, no deutsche mark, no yen, no pound, no franc, no nothing is price around the world with out Chicago trading pits having their say. New York Stock Traders, Iowa farmers, Montana ranchers, London Gold bugs, Tokyo’s bankers, Saudi oil barons all come to Chicago to do business… “And you don’t think Blagojevich or Rollin Burris don’t know this? Or the media???

Open up your mind, believe it, we never had a real free market… and the fight is on.

Grump -

I have spend the last 4 months reading about economics. I would argue that the mindset that Free Markets fix every problem is the problem. I would argue that 90% of those guys on the floor with Rick believe in survival of the fittest. Dog eat dog and whatever other cliche you would like to use.

Let those guy which hats with any bank or inventment house CEO and they would have made the same mistakes because it is profit first and country third.

Thanks for your comments.

Grump -

I have spend the last 4 months reading about economics. I would argue that the mindset that Free Markets fix every problem is the problem. I would argue that 90% of those guys on the floor with Rick believe in survival of the fittest. Dog eat dog and whatever other cliche you would like to use.

Let those guy which hats with any bank or inventment house CEO and they would have made the same mistakes because it is profit first and country third.

Thanks for your comments.

LnP -

You are right. I'm biased toward a society that doesn't run over the poor and bow to the rich. I'm biased toward a society that would actually like to help those of us who didn't get the opportunity to flap their lips on national TV and get paid for it. I'm bias toward those who work for a living in a hard hat and jeans because they just want to make an honest living. No like those CEO's who have run America into the ground.

Thanks for your comments.

LnP -

You are right. I'm biased toward a society that doesn't run over the poor and bow to the rich. I'm biased toward a society that would actually like to help those of us who didn't get the opportunity to flap their lips on national TV and get paid for it. I'm bias toward those who work for a living in a hard hat and jeans because they just want to make an honest living. No like those CEO's who have run America into the ground.

Thanks for your comments.

Dr. Doom -

Which part is the joke? Thoughtful? Intelligent or progressive? Or all 3. And you base your opinion on...?

Maybe I can be more thoughtful. Maybe I could go back and get a second graduate degree.

thanks for your comments...I think. :-)

Dr. Doom -

Which part is the joke? Thoughtful? Intelligent or progressive? Or all 3. And you base your opinion on...?

Maybe I can be more thoughtful. Maybe I could go back and get a second graduate degree.

thanks for your comments...I think. :-)

Michael -

The only thing that is obvious is that you will cherry pick facts and think that you have a valid conclusion. Nobody forced banks to give loans to unqualified buyers. CRA didn't say that.

Michael -

The only thing that is obvious is that you will cherry pick facts and think that you have a valid conclusion. Nobody forced banks to give loans to unqualified buyers. CRA didn't say that.

Buy gold, silver and bulletz... Proly oughta sell yer 7 year financed escalade first though. Santelli is spot on. Ah, nevermind, have another prozac and enjoy some network television.

Buy gold, silver and bulletz... Proly oughta sell yer 7 year financed escalade first though. Santelli is spot on. Ah, nevermind, have another prozac and enjoy some network television.

I have no intention of bringing party politics into this rant, as what's happened has been an entirely bipartisan endeavor. That said, Dr. Thompson (and bernice), if you believe Rick Santelli and the traders on that floor in Chicago are part of the problem, I suggest you spend some time learning about the financial markets and how they work. If you did, you would see that regulated traders had nothing to do with it.

I have no intention of bringing party politics into this rant, as what's happened has been an entirely bipartisan endeavor. That said, Dr. Thompson (and bernice), if you believe Rick Santelli and the traders on that floor in Chicago are part of the problem, I suggest you spend some time learning about the financial markets and how they work. If you did, you would see that regulated traders had nothing to do with it.

Rick Santelli, is one of the few people of the media that tell it as it is.
Mr Santelli and those traders behind him are the same ones that said the rate cuts were not the answer.
We need more people like them that are in the know to get us out of this mess

now go DIE UNDER A BRIDGE

Rick Santelli, is one of the few people of the media that tell it as it is.
Mr Santelli and those traders behind him are the same ones that said the rate cuts were not the answer.
We need more people like them that are in the know to get us out of this mess

now go DIE UNDER A BRIDGE

I will drive my Pelousymobile green car from a welfare car company to cash my government check at the government runbank and spend it at a government run retailer who went bankrupt. I live in a government program refinced house that i first bought with a no documented loan.

I will drive my Pelousymobile green car from a welfare car company to cash my government check at the government runbank and spend it at a government run retailer who went bankrupt. I live in a government program refinced house that i first bought with a no documented loan.

If you want to discuss the big picture, what's really going on here is the continual 'left-ward lurch" of America. I've maintained that we are always roughly 30 to 40 years to the right of socialism, as in France. And we will keep lurching to the left because people are comforted by the belief that they can get something for nothing.

People think "the New Deal" got us out of the depression. It didn't. Hitler did. That's not nice to hear, but sometimes the truth isn't.

You can tell a 4 year old not to touch the stove burner until you are blue, but nothing teaches him more than experience.

And I'm not slamming Obama. The Bush administration's bailout was one of the single worst decisions of his Presidency. Repealing Glass-Steagall was bascially a Republican idea that took root in the Clinton Administration, and that certaintly did not help.

If you're looking for someone to blame, take a walk into your bathroom and take a good look in the mirror. Because it's all of us. We all think we can have something for nothing. The quicker you divest yourself of that delusion, the better off you will be.

If you want to discuss the big picture, what's really going on here is the continual 'left-ward lurch" of America. I've maintained that we are always roughly 30 to 40 years to the right of socialism, as in France. And we will keep lurching to the left because people are comforted by the belief that they can get something for nothing.

People think "the New Deal" got us out of the depression. It didn't. Hitler did. That's not nice to hear, but sometimes the truth isn't.

You can tell a 4 year old not to touch the stove burner until you are blue, but nothing teaches him more than experience.

And I'm not slamming Obama. The Bush administration's bailout was one of the single worst decisions of his Presidency. Repealing Glass-Steagall was bascially a Republican idea that took root in the Clinton Administration, and that certaintly did not help.

If you're looking for someone to blame, take a walk into your bathroom and take a good look in the mirror. Because it's all of us. We all think we can have something for nothing. The quicker you divest yourself of that delusion, the better off you will be.

Bernice,

Obviously you don't know much about Mr. Santelli. He's been railing against .gov bailouts of banksters for a long time now.

Go back to watching American Idol where the intellect is more on your level.

Bernice,

Obviously you don't know much about Mr. Santelli. He's been railing against .gov bailouts of banksters for a long time now.

Go back to watching American Idol where the intellect is more on your level.

<This clown in chicago speaks for himself. It was the greed and competition of the institutions this Santelli moron worked for that put us here.

Let them go bankrupt. Hell, these greedy banks should lose everything and the government should tak eover the morgtages and offer these troubled borrowers the a mortgage for half CMV. Then, give the responsible mortgage payers huge tax breaks.

BAC, C, WFC, CFC reap what you sow. Reap what you sow! To zero!

<this and="" chicago="" clown="" competition="" for="" greed="" here.<br="" himself.="" in="" institutions="" it="" moron="" of="" put="" santelli="" speaks="" that="" the="" this="" us="" was="" worked="">
Let them go bankrupt. Hell, these greedy banks should lose everything and the government should tak eover the morgtages and offer these troubled borrowers the a mortgage for half CMV. Then, give the responsible mortgage payers huge tax breaks.

BAC, C, WFC, CFC reap what you sow. Reap what you sow! To zero!</this>

Perhaps the originator of this thread should get himself educated about what those "evil traders" behind Mr. Santelli actually trade.

Learn the facts before going "live" with an uninformed, knee-jerk, make-the-partisans-feel-good post.

Besides, do YOU enjoy having your tax dollars confiscated to give to irresponsible home debtors and criminal banksters?

Didn't think so.

Perhaps the originator of this thread should get himself educated about what those "evil traders" behind Mr. Santelli actually trade.

Learn the facts before going "live" with an uninformed, knee-jerk, make-the-partisans-feel-good post.

Besides, do YOU enjoy having your tax dollars confiscated to give to irresponsible home debtors and criminal banksters?

Didn't think so.

Santelli is spot on with his comments and your description of it as a hysterical rant only shows your bias toward the socialist agenda that is being forced upon America with the current administration. The policies and stimulus that have been proposed will have little direct impact on the economy and the markets in general. I suggest that you stick to proctology as it is quite apparent that you have your head up your rear regarding economics and the market in general.

Santelli is spot on with his comments and your description of it as a hysterical rant only shows your bias toward the socialist agenda that is being forced upon America with the current administration. The policies and stimulus that have been proposed will have little direct impact on the economy and the markets in general. I suggest that you stick to proctology as it is quite apparent that you have your head up your rear regarding economics and the market in general.

"Thoughtful, intelligent, progressive discussion about politics"

haha, what a joke

"Thoughtful, intelligent, progressive discussion about politics"

haha, what a joke

Bernice,
you coulda stopped at your first 3 words.

Bernice,
you coulda stopped at your first 3 words.

Um those are not derivative traders like the ones that are CDO CDS...those derivative trades are done by banks in the OTC market

the chicago merc trades INTEREST RATE contracts, index futures, options, and commodities...

these traders did nothing to harm the US...

I find it funny that someone like yourself WHO KNOWS NOTHING ABOUT FINANCE, who thinks homebuilders should build more homes to help the economy, and who thinks GM and F will lead us out of recession, and blindly supports any partisan aganda, has the audacity to call someone he knows nothing about a kool-aide drinker...

WHERE IS THE OUTRAGE?

Um those are not derivative traders like the ones that are CDO CDS...those derivative trades are done by banks in the OTC market

the chicago merc trades INTEREST RATE contracts, index futures, options, and commodities...

these traders did nothing to harm the US...

I find it funny that someone like yourself WHO KNOWS NOTHING ABOUT FINANCE, who thinks homebuilders should build more homes to help the economy, and who thinks GM and F will lead us out of recession, and blindly supports any partisan aganda, has the audacity to call someone he knows nothing about a kool-aide drinker...

WHERE IS THE OUTRAGE?

Perhaps not pc but right. First mistake was FORCING banks to give loans to people who could never repay them. A bigger mistake is allowing these people to refinanced these loans at 105 % of there value and thinking that is going to solve the problem. I understand that because of Mr. Santilli's job ( or any job) he is not allowed an opinion. To disregard and dismiss the rage that is building in this country would also be a mistake. Thank you Mr. Santilli for stating what sould have been obvious.

Perhaps not pc but right. First mistake was FORCING banks to give loans to people who could never repay them. A bigger mistake is allowing these people to refinanced these loans at 105 % of there value and thinking that is going to solve the problem. I understand that because of Mr. Santilli's job ( or any job) he is not allowed an opinion. To disregard and dismiss the rage that is building in this country would also be a mistake. Thank you Mr. Santilli for stating what sould have been obvious.

I know nothing about this person, but what he said and HOW he said it was the pinnacle of HYPOCRISY! And the chutzpa (sp?) to actualy rally the TRADERS behind him--who have helped push our country to the edge of bankruptcy--and THEN begged and received A MASSIVE BAILOUT!!! Shame. Shame. and Shame on the media who portray this a-hole as a credible commentator!

I know nothing about this person, but what he said and HOW he said it was the pinnacle of HYPOCRISY! And the chutzpa (sp?) to actualy rally the TRADERS behind him--who have helped push our country to the edge of bankruptcy--and THEN begged and received A MASSIVE BAILOUT!!! Shame. Shame. and Shame on the media who portray this a-hole as a credible commentator!