Today's Elites

Thursday, June 23, 2011

Aaron Burr and Derivatives

Today's NY Times headline worries:
"Derivatives Cloud the Possible Fallout From a Greek Default"
Burr and his pupil Martin Van Buren were the precursors of our derivative sycophants. They set up a scam whereby farmers' earnings were systematically stolen  after the private banks they and friends set up took the money and deliberately went bust time and again. This was exactly what Hamilton's National Bank was set up to prevent. Ergo the duel. Likewise, Roosevelt set up an end to the bucket shop practices of Wall St with the passage of Glass-Steagall. Today, the derivatives crooks are at it again, bigger than ever. But they are oh, so respectable...Like Ozymandias...

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