Saturday, September 19, 2009

Working the System

The NASDAQ was designed by Bernard Madoff and other insider investors who were very good at working the system.

The Federal Reserve was designed by a group of influential bankers who, again, were very good at working the system.

The Credit Default Swap system was created by people adept at working the system.

Central to both the Cap and Trade and Health Care Reform Bill are exchanges designed by people who are extremely adept at working the system.

I am surprised that anyone who watched the market implosion of 2008 think that these markets designed and controlled by people adept at working the system is a good thing.

1 comment:

Reach Upward said...

Many people I talk to have a very unhealthy acceptance of 'smart people' having 'control' over these centralized systems.