Financial Engineering

Found on MsHedgehog's Blog...

This video is 71 minutes long...so watch it when you have some time on your hands...




"what do we do with people who profit by destroying value, getting rich by causing damage...?"

"big bucks in the economy are made in finance..."

"where does the top 1/100th of a percent come from?...these are the people making the really large incomes..."

"although there are captains of industry, creators, the really large incomes are people you have never heard of, doing it through financial engineering on wall street"

"and there is very little evidence that this is creating value..."

In other words, simply making money off of money...

"The economy in the middle part of this decade consisted of Americans selling houses to each other and borrowing the money to do it from China..."

"a P.T. Barnum market...a sucker is born every minute..."

These guys who orchestrate these "financial engineerings"...walk away with a severance package of $150 million...then the investors are left holding the (empty) bag...the illusion of making money for investors for a few years...then they crash and burn...

Persistent problem...with no learning...makes money for two years...and then blows up in investor's faces....one after another after another....I don't know how it all ends...