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Let the Financial Reckoning Begin

Jade

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Arguably anybody expecting those pipelines to ever turn back on was huffing copium. I was absolutely shocked to find out markets were expecting pipelines to resume service. Mental.
People in high finance like to think they got where they are because of smarts and hard work, but this is almost never true. They're usually only just barely smarter than the baseline average and they get their positions and successes through nepotism far more than any work they do.
 
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punishedgnome

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People in high finance like to think they got where they are because of smarts and hard work, but this is almost never true. They're usually only just barely smarter than the baseline average and they get their positions and successes through nepotism far more than any work they do.
Not only that, but a lack of scruples. It is easy to make money if you don't mind dicking people over.
 
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Jade

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Not only that, but a lack of scruples. It is easy to make money if you don't mind dicking people over.
Even in this, though, they're complete hypocrites. "It's just business" is a well-known phrase - in other words, their mentality is, it's okay to dick people over, because business is a cutthroat world and that's just how it works - no, more, being driven by selfish interests for wealth and other luxuries is how everyone thinks, even if they don't want to admit it. So don't get mad you got dicked over, it's just because we're smarter and more ambitious than you.

But when their turn comes, in those moments when their own awful planning and convoluted schemes collapse in on themselves and, (such as in the GME short squeeze) they end up getting outsmarted by the masses of people they believe they are inherently superior to, then they show their true faces as spoiled brats who are used to getting anything they want whenever they want it, and throw a tantrum when, in these rare cases, they are denied something they demanded. Ultimately, the great financiers are nothing but their own wealth and nepotistic connections. It's become their entire reality, without it, they'd be no one.
 
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cuneicorn

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OP, where were you able to check price on the CDS out of curiosity? Apparently they're shadow banking instruments not regulated by the IRS or listed on conventional exchanges. Some of the articles I read described them as a form of insurance against default, but that isn't really true since with a "naked" CDS you don't need to possess the underlying asset at all. It's literally gambling. Reminds me of the Pentagon's plan for "terrorism futures" post-9/11.

A bit eerie considering that 2008 happened precisely because investment banks couldn't cover credit default swaps for their own faulty mortgage-backed securities.
 
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IlluminatiPirate

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>FRONT RUN THIS ONE, BLACKROCK AND FEDERAL RESERVE! YOU ASS-HATS!!!

BANK RUN ON DEBIT SWISS CHEESE

DEBTMAXXING A DYING BANK IS THE FASTEST WAY TO KILL THEM

GOOOOOOOOOO MY BUSY BEES DEBIT SUISSE IS KILL!!! KILL LA KILL, I SAY!!!

HOW CAN YOU PAY OFF A LOAN TO A BANK THAT NO LONGER EXISTS

>DEBIT SWISS BANK RUN
DEBIT SWISS BANK RUN
>DEBIT SWISS BANK RUN
DEBIT SWISS BANK RUN
>DEBIT SWISS BANK RUN
 

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mauer

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OP, where were you able to check price on the CDS out of curiosity? Apparently they're shadow banking instruments not regulated by the IRS or listed on conventional exchanges.
Seconding the request for a way to view it, but near as I can tell it's basically a proprietary index owned by IHS Markit/S&P Global.
 

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