Moral hazard is a concept that is arguably misunderstood, since those responsible for the damage have neglected to acknowledge its terms. Moral hazard is perceived by Allan Loeb in Wall Street: Money Never Sleeps as ‘‘being able to steal your money without responsibility’’. This very crude description of moral hazard, however, turns out to be fairly exact. In the financial system, moral hazard occurs when the person investing money is not held responsible for the outcome of their investment strategy. – 2atardif.com
What is really going on with our economy and who is really responsible? You Have The Right To Remain Silent. But We Hope You Won’t. FOR MORE TRUTH, VISIT: http://www.puppetgov.com
Viewers around the world were shocked in September when a trader told the truth to BBC, that “the global crash is coming ” and “Goldman Sachs rules the world”. He said that as a trader he didn’t care what happened to the planet, that he would make money even if the whole world economy was destroyed.
BBC News—Sept. 26, 2011— New CNN interview: www.cnn.com news.yahoo.com Just listen to this guy. Thanks to zerohedge for posting this story. Copyright BBC News 2011 …
“This is the beginning of the end. Both the EU and U.S. are politically paralyzed, seeming only to be able to make compromises that involve more spending, more debt, and more central planning. The results are all too predictable to free-market thinkers: bailouts leading to moral hazard, low interest rates leading to ballooning debt, and eventually a cascade of systemic failures – leading to more bailouts. This was confirmed recently when central bankers on both sides of the Atlantic announced a coordinated tidal wave of new money to bailout the Western banking system yet again.”
– Peter Schiff
“You have to start acknowledging these people for what they are, and that is: Moral degenerates, basically sociopaths and psychopaths. Meaning they don’t feel any sympathy or empathy for other human beings.”
“They will lie to your face, they’ll look in the camera with this tremendous earnestness and lie with fork tongues through their teeth in order to advance their wealth and power.”
I’m convinced that it’s SYSTEMIC for financial institutions to prey on their unsophisticated (or certainly less sophisticated) customers. As I was thinking of examples, I realized that I’m having trouble thinking of ANY type of consumer loan or financial product in which there ISN’T widespread abuse. Mortgages, credit cards, debit cards, student loans, auto loans, check cashers, pawn shops – ALL OF IT!!!.
Publish Date: 12/06/2011 18:14
The perceived safety net creates what economists call moral hazard — the belief that bankers will take greater risks because they’ll enjoy any profits while shifting losses to taxpayers. Moral hazard arises because an …
Publish Date: 11/29/2011 7:06
Psychopaths aren’t limited to seemingly nice people who invite you over for dinner, then cut you into pieces and serve your fresh innards on a plate. The World Health Organization has a “Personality Diagnostic Checklist” that is used in conjunction with this work. You’ll recognize it by the check marks.
Psychopath Diagnostic Checklist:
✔ Callous unconcern for the feelings of others.
✔ Incapacity for maintaining enduring relationships.
✔ Reckless disregard for the safety of others.
✔ Deceitfulness, repeated lying and conning others for profit.
✔ Incapacity to experience guilt.
Paul Craig Roberts states that the Bankers have seized Europe: Goldman Sachs has taken over.
“Who will rule the New Europe? Obviously, the private European banks and Goldman Sachs.
The new president of the European Central Bank is Mario Draghi. This person was Vice Chairman and Managing Director of Goldman Sachs International and a member of Goldman Sachs’ Management Committee. …
Obviously, Draghi is going to protect the power of bankers.
Italy’s new prime minister, who was appointed not elected, was a member of Goldman Sachs Board of International Advisers. Mario Monti was appointed to the European Commission, one of the governing organizations of the EU. Monti is European Chairman of the Trilateral Commission, a US organization that advances American hegemony over the world. Monti is a member of the Bilderberg group and a founding member of the Spinelli group, an organization created in September 2010 to facilitate integration within the EU….
The European Union, just like everything else, is merely another scheme to concentrate wealth in a few hands at the expense of European citizens, who are destined, like Americans, to be the serfs of the 21st century.
As Mario Monti, former Goldman Sachs advisor and Bilderberg attendee, takes over as PM of Italy, Max Keiser discusses where the Europe debt crisis is heading as the banksters begin to seize direct control. 14 Nov 2011 rt.com Copyright to RT, Fair Use…
Time is running out for Eurozone leaders to save the single currency, as they prepare for eleventh-hour talks in Brussels. Germany and France are pushing to change EU treaties, to create a fiscal union and introduce tougher budget rules.However, the …
From Carl Herman:
Psychopaths are viciously destructive in action. They obfuscate with lies and charm. They persist only when their actions are unrecognized; 95% of the population reject such criminal destruction (here and here).
US political and economic “leadership” are psychopaths because their central policies are viciously destructive, as the following links explain, document, and prove. “Leadership” obfuscate with lies, charm, and US corporate media complicity.
Calling this behavior psychopathic is perfect because it neither understates nor overstates the facts. Use this academic term at your command. I also suggest Princeton professor Frankfurt’s academic term for the type of “lies” that “leadership” uses: bullshit.
“As I grow older, I pay less attention to what men say. I just watch what they do.” – unsourced and attributed to Andrew Carnegie
The destruction of millions of lives and trillions of dollars will end when enough Americans recognize and assert the “emperor has no clothes” facts:
– Congressional reports disclose that all “reasons” for war with Afghanistan and Iraq were known to be lies as they were told.
– Orwellian unlawful wars, including using depleted uranium weapons to damn victims with continuous misery and death.
– obfuscating from the obvious answer of ending an Orwellian “debt supply” and replacing it with money.
– allowing a million children a month to die of preventable poverty, even though historically ending poverty reduces population growth rate and the investment is less than 1% of the developed nations’ gross national incomes (GNI).
– torture, extrajudicial assassinations (including against American citizens) and indefinite detentions.
– destruction of the US Constitution into a form of government closest to fascism and nowhere near a constitutional republic.
– literally throwing Americans onto the streets rather than take any of a dozen acts to allow them to stay in their homes.
– intentional unemployment, crime, infrastructure decay, fear, anger, depression (both economic and psychological) rather than create money for full employment.
– allowing 45,000 Americans to die every year from lack of health care, even though universal single-payer saves the nation $100-$300 billion every year.