Gene Inger

Is the Populist Mob Right?

another point will be the 'hoodwink' of the coming 'mark to market' changes; yet another facade. Go to sell your home; it is worth what it is worth; not what you pretend it is to either stroke one's ego, or in the case of bankers, to provide an illusion with respect to what toxic assets are worth. I don't think everyone grasped the implications of the 100% payouts on Credit Default Swaps either (may not have mentioned this other than at our web site; sorry); because the 'bonus' mess is a worthy issue; but pales compared to 'who knew what when' if the bankers did the CDS's after they already knew they held toxic assets. That's equivalent to a 'pre-existing condition' in health insurance; if you didn't disclose it; they may deny payment; not make full payment anyway. Where is the investigative journalism to figure this out? Bloomberg did sue for it; and got denied. Why? In my days of early financial TV almost 30 years ago we would not have toed-the-line with respect to asking the really hard questions. Back then too it too years, not months, to create a new solid environment to invest; though we called it a generational buy. Trade safely!