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Banker Admits "We Engineered the Global Financial Crisis"

 
Anonymous Coward
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02/28/2013 07:44 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
the level of know-it-all posters in this thread is unbearable
 Quoting: Anonymous Coward 11171736


This thread... or were you reffering to another one? All of them perhaps?
Anonymous Coward
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02/28/2013 08:00 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
spock
Anonymous Coward
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Netherlands
02/28/2013 08:03 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
I don't see what's new about this video... he says "We engineered the world financial crisis". You don't need to be a rocket scientist to find that out, just look around you and see how the economy is doing.

The bigger question is: Was it their intention to create this mess?
Anonymous Coward
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02/28/2013 08:24 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Wow a banker that admits it!
moses767

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02/28/2013 08:27 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Okay the bankers have successfully engineered the destruction of Europe and the Great American Empire. But their tormentings in the great lake of fire and brimstone very soon, won't be worth it. They will repeatedly say once the Almighty God of Heaven conquers and defeats them, "We didn't know that our tormentings would be this severe and this agonizing. We wish that we had never caused so much pain and suffering and death and genocides. But now it is too late, and we will be cooking and frying in this agony forever and ever. Aaaahhhhh!! Aaaaaahhhhhh!! O blank (curse words) we are so blanking doomed, forever and ever!! aaaahhhhhh!!""
Anonymous Coward
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02/28/2013 08:37 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Jewish bankers control the IMF

yet we all say "save Israel"
Free Planet
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02/28/2013 08:40 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Still, he SAYS it at around the 2 minute mark.

What is his name?
 Quoting: Anonymous Coward 566027


Oswald Gruebel
 Quoting: Anonymous Coward 33389306


"We engineered the world financial crisis ..."
 Quoting: Anonymous Coward 33389306


He did, didn't he. Wonder if he REALLY meant that. Seems a BOLD statement to make.
Free Planet
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02/28/2013 08:46 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Still, he SAYS it at around the 2 minute mark.

What is his name?
 Quoting: Anonymous Coward 566027


Oswald Gruebel
 Quoting: Anonymous Coward 33389306


"We engineered the world financial crisis ..."
 Quoting: Anonymous Coward 33389306


He did, didn't he. Wonder if he REALLY meant that. Seems a BOLD statement to make.
 Quoting: Free Planet 35315025


Woah, woah, woah,

"On 24 September 2011, the UBS board announced that Oswald Gruebel had resigned," was this his resignation speech?
Anonymous Coward
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Indonesia
02/28/2013 08:50 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
yes, who do you think that make asian financial crisis in 1997
Anonymous Coward
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Indonesia
02/28/2013 08:57 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
now the big investor and banker money flocking to Asia, in indonesia : increasing foreign direct investment.. look our market being bubbled
Free Planet
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United Kingdom
02/28/2013 08:57 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
look, the way I see it, Germans never did have a sense of humour.

This guy, this comedian, was just pulling a symposium's leg - his delivery was so pokerface so downpat that we believe his words without understanding his standup his schtick - he was SURELY just being sarcastic.

Right?

Plllllllllllllllllllllleeeeeeeeeeeeeze!
Anonymous Coward
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02/28/2013 08:58 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
I don\'t see what\'s new about this video... he says \"We engineered the world financial crisis\". You don\'t need to be a rocket scientist to find that out, just look around you and see how the economy is doing.

The bigger question is: Was it their intention to create this mess?
 Quoting: Anonymous Coward 14505884


It´s one BIG ponzi scheme. Yes, they have known from beginning.
THE WORDSMITH

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02/28/2013 09:06 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"

 Quoting: Anonymous Coward 33562216


Notice

Failure to arrest this man will result in you loosing your shiny badges...

You have been warned.
Anonymous Coward
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02/28/2013 09:14 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"

 Quoting: Anonymous Coward 33562216


Engineered doesn't mean they all conspired to do it on purpose...

People engineer their own downfall through incompetence and greed all the time, but that doesn't mean, pretty obviously, that they meant to fail. Only that they created the situation.

People that hear his statement and think this means the banks planned a global financial disaster as simply ignoring reality.
 Quoting: Anonymous Coward 21130561


I am not quite sure what he meant, he discussed two things not clearly linked:

(1) The accumulation of debt owed by Europe and USA, largely owed to China.

(1a) China's inevitable growth slowdown. Logically caused by (1) -- the debtors slowed their taking of more debt, or China demanded payment in noninflated currency.

(2) The financial collapse.

Was he saying that (1) and (1a) caused (2)? Maybe.
Anonymous Coward
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United Kingdom
02/28/2013 09:17 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
i know how they did it in britian they invented a arab trillionaire who supposadly had stockpiles of gold and oil that just didnt exist they then deposited 3 seperate amounts of 5 trillion dollars into 2 uk banks hsbc and rbs

both ceo's of the banks were in on it as they signed for the fake computer generated money then they withdrew it ...

physically!!

this emptied the vaults of both central banks they then received the bailout from the government that was allso in on it emptying the public purse and filling that void with a shit load of worthless bank shares

while toasting the takeover of everything everywhere.
 Quoting: Anonymous Coward 1179421


Spoken by a twat that obviously knows nothing of how banks work or how treasury or electronically generated money in fed into the "system".

I'm no even going to bother to explain whats wrong with the shit you have posted, A child could see through your ineptitude.


bsflag
 Quoting: Anonymous Coward 35322168



I take it you require proof ...



 Quoting: Anonymous Coward 1179421


Congratulations on that coolly restrained response to Mr. Know-it-all!
Mind-boggling video from the UK House of Lords.
Anonymous Coward
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02/28/2013 09:19 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Tell me what I don't know.
 Quoting: Anonymous Coward 34983804

bump
Anonymous Coward
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02/28/2013 09:24 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
I called that long before while it was getting set up by Ben Bernanke! All it takes is paying attention, folks!
Anonymous Coward
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02/28/2013 09:28 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
ogrrr

How the Democrats Created the Financial Crisis

(( Take away Fannie and Freddie, or regulate them more wisely, and it's hard to imagine how these highly liquid markets would ever have emerged. This whole mess would never have happened.

It is easy to identify the historical turning point that marked the beginning of the end.

Back in 2005, Fannie and Freddie were, after years of dominating Washington, on the ropes. They were enmeshed in accounting scandals that led to turnover at the top. At one telling moment in late 2004, captured in an article by my American Enterprise Institute colleague Peter Wallison, the Securities and Exchange Comiission's chief accountant told disgraced Fannie Mae chief Franklin Raines that Fannie's position on the relevant accounting issue was not even ``on the page'' of allowable interpretations.

Then legislative momentum emerged for an attempt to create a "world-class regulator" that would oversee the pair more like banks, imposing strict requirements on their ability to take excessive risks. Politicians who previously had associated themselves proudly with the two accounting miscreants were less eager to be associated with them. The time was ripe.

Greenspan's Warning

The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn't be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie "continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'' he said. "We are placing the total financial system of the future at a substantial risk."

What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

Different World

If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

But the bill didn't become law, for a simple reason: Democrats opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn't even get the Senate to vote on the matter.

That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: "It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing."

Mounds of Materials

Now that the collapse has occurred, the roadblock built by Senate Democrats in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.

But we now know that many of the senators who protected Fannie and Freddie, including Barack Obama, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Throughout his political career, Obama has gotten more than $125,000 in campaign contributions from employees and political action committees of Fannie Mae and Freddie Mac, second only to Dodd, the Senate Banking Committee chairman, who received more than $165,000.

Clinton, the 12th-ranked recipient of Fannie and Freddie PAC and employee contributions, has received more than $75,000 from the two enterprises and their employees. The private profit found its way back to the senators who killed the fix.

There has been a lot of talk about who is to blame for this crisis. A look back at the story of 2005 makes the answer pretty clear.
))

[link to www.bloomberg.com]

oridin
Lips Of Lucifer

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South Africa
02/28/2013 09:29 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
So why has this creature not been arrested? Not only has it admitted to it's subhuman, sociopathic crimes against Humanity, it obviously knows all the other dangerous criminals involved in this Fraud of global proportions. Here is an admission - so where are those whose duty it is to defend us using our taxes, against this savage barbarism...
Anonymous Coward
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United Kingdom
02/28/2013 09:33 AM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
the level of know-it-all posters in this thread is unbearable
 Quoting: Anonymous Coward 11171736


This thread... or were you reffering to another one? All of them perhaps?
 Quoting: Anonymous Coward 24238594


chuckle
Anonymous Coward
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02/28/2013 12:56 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
I wouldn't want to be a banker when revolution comes :)
Anonymous Coward
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02/28/2013 12:57 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
A banker admits nearly collapsing every economy in the world which would in turn end all banks?!

And you people believe that?

FFS they dont have that much power.

The UK had to put a stop on bank runs before all the money was withdrawn.
 Quoting: Down Under Wonder 35316872


bsflagBanksters or hook noses as they are better known in some circles run the fucking world.This synagogue of satan is responsible for all wars,starvation and death around the world.So don't tell me they don't have that much power,but there days are numbered and they know it.
Anonymous Coward
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02/28/2013 01:11 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
dickheads i told you this months ago , how do you thin the mark of the beast comes you idiots
 Quoting: Anonymous Coward 35272197


Help me out here...you're in a rage because someone else posted a thread that agrees with what you've been saying??
SOfuckingWhat
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02/28/2013 01:28 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Yeah we know crap shitty nasty underhand backroom behind the curtain scene steered controlled lies go on.

Now what? What you gonna do about it and what do you want me to do about it? hm? what? Oh by the way this system we live by it its currently up and running. Again now what?

Oh you want to fix the corruption. What you going to do to replace it with? Again Now what?
Anonymous Coward
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02/28/2013 01:43 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
Yeah we know crap shitty nasty underhand backroom behind the curtain scene steered controlled lies go on.

Now what? What you gonna do about it and what do you want me to do about it? hm? what? Oh by the way this system we live by it its currently up and running. Again now what?

Oh you want to fix the corruption. What you going to do to replace it with? Again Now what?
 Quoting: SOfuckingWhat 27174334


I believe it's going to be a bloody revolution and they will face the ultimate justice,but before they do millions upon millions will be dead.bump
Anonymous Coward
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02/28/2013 01:50 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
why is everyone so blase about what he said? I'm shocked he openly admits it.
 Quoting: Anonymous Coward 11171736


There must be a crime they can be arrested for under current laws! I don't get the blase attitudes either but people just seem to shrug and accept it is what it is and there's nothing that can be done about it. Maybe when their beer and widescreen TVs cease to exist people will stop being blase but until then...
Anonymous Coward
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02/28/2013 01:52 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"

 Quoting: Anonymous Coward 33562216


Engineered doesn't mean they all conspired to do it on purpose...

People engineer their own downfall through incompetence and greed all the time, but that doesn't mean, pretty obviously, that they meant to fail. Only that they created the situation.

People that hear his statement and think this means the banks planned a global financial disaster as simply ignoring reality.
 Quoting: Anonymous Coward 21130561


this ^

germans speak very literally, so I can understand why he would use such a specific term.
Deej

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02/28/2013 02:43 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
that video is two years old.

not news, just boring. unpin & 1*
 Quoting: Anonymous Coward 29524196


^THIS^

Jeesh... global pin?

Sup' wit dat?

putin
No matter what happens... just say "Thank You." - D W Fierce
Free Planet
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02/28/2013 02:43 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
I wouldn't want to be a banker when revolution comes :)
 Quoting: Anonymous Coward 12045935


Or a politician.
Dom Diputs

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02/28/2013 03:03 PM
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Re: Banker Admits "We Engineered the Global Financial Crisis"
But but, the MSM told us it was 'sub prime' black American families buying ghetto shacks that collapsed the world ponzi scheme?!
Naughty BAD BAD African Americans!!
bad_smile
 Quoting: BuggedOut


The MSM never told you that.

That was the alternative media.

News








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