The
definition of a sociopath is someone who is radically deficient in empathy. And where better does this definition apply
than on Wall Street? In Greece, old
people are dying earlier now, ever more kids aren't going to school, garbage is
being left in the streets, hospitals are closing. And it's all because some guy was sitting up
in a skyscraper on Wall Street, knowingly selling some communities, some
municipality, a fraudulent, toxic, mortgage-backed security or other derivative. He knew that that instrument he was selling
was going to blow up in six months to a year.
But he sold it to them anyway. And
he doesn't care, because he managed to shut his eyes to the long-term
consequences for others. And that's
classic sociopathic behavior -- being willingly blind to the horrific consequences
of your actions in the lives of others.
Because
derivatives are so
complicated, you can't price compare. The
risks are often bundled in within formulas that the buyers can't understand. This way the sellers can load all kinds of
basically what's equivalent to hidden fees in these things, by the way they
structure the risks in the terms.
So they're
the perfect vehicle for stealing from someone, because you're selling somebody
something they can't properly evaluate.
They trust you because you seem to know what you're talking about and
because they are hungry to make some big money quickly.
Click here for source article.
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