It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

A Look At Wall Street's Shadow Market

page: 1
1

log in

join
share:

posted on Oct, 5 2008 @ 10:51 PM
link   

A Look At Wall Street


www.cbsnews.com

(CBS) On Friday Congress finally passed - and President Bush signed into law - a financial rescue package in which the taxpayers will buy up Wall Street's bad investments.

The numbers are staggering, but they don't begin to explain the greed and incompetence that created this mess.

It began with a terrible bet that was magnified by reckless borrowing, complex securities, and a vast, unregulated shadow market worth nearly $60 trillion that hid the risks until it was too late to do anything about them.

And as correspondent Steve Kroft reports, it's far from being over.
(visit the link for the full news article)



[edit on 5-10-2008 by Ausable_Bill]




posted on Oct, 5 2008 @ 10:51 PM
link   
well this is starting to get covered by msm. (a little)

I suspect there's gonna be alot of mad as hell americans as this thing picks up speed with more exposure.

And alot of people don't think martial law is coming???

this isn't looking good at all.

These people are explaining the hows, the whys and by whom this crisis was created.

Later,...... Ausable_Bill

www.cbsnews.com
(visit the link for the full news article)



posted on Oct, 5 2008 @ 11:02 PM
link   
reply to post by Ausable_Bill
 


Shadow Market is trading and securities that are not reported by the media because most people don't bother with them..

Usually.. not always, but usually these are institution to institution trading.. from complex mortgage swaps where more then one institution invests in it, one owns it, and hundreds of securities are sold to support them .. one they begin to fail the unwinding of the complex, shadowed mortgage and other bad debt betting come to light.

I would even consider the FOREX markets to be Shadow Market because you never really hear anything regarding them.. and forex exchanges trumps all of NYSE exchanges easily.. in fact the ratio you can invest with them is staggering.

Good to see MSM shine some light on it tho.



posted on Oct, 5 2008 @ 11:25 PM
link   
reply to post by Rockpuck
 


You are right but the point I am trying to make is it's getting exposure to us citizens.

But, are these corporate crooks gonna be held criminally liable???

It's sad to say,...... I doubt it!


Later,...... Ausable_Bill



posted on Oct, 6 2008 @ 02:20 AM
link   
...I guess Micheal Moores call for "Corporate Cops" in bowling for columbine was NOT such a bad idea after alll :-/...



posted on Oct, 6 2008 @ 06:57 AM
link   
reply to post by Ausable_Bill
 


The trading it's self is not illegal..

The collapsing banks make great consolidation .. so the bankers don't really care that a few banks no longer have funding..

The point where it got illegal was where they held their credit for ransom -- to the tune of several hundred billion dollars. Granted, I am not sure who did more to get banks this money, congressmen or bankers. Perhaps the Congressmen simply could not stand to see their own mutual funds and 401k's taking such a beating. At least, something inspired an uneducated rush to throw money at these institutions when they did not need it..



posted on Oct, 6 2008 @ 01:27 PM
link   
reply to post by Ausable_Bill
 


Hopefully, as people become more sensitive to the actual manipulations of the market, they will begin to see that they have been overlooking a huge gap in their understanding of just how much 'gambling' was going on in the market.

Suffice to say, it was the banking industry that became addicted to this game, because nothing trumps profit. Not even sustainability.




top topics



 
1

log in

join