Who needs wall street innovation

[Anonymous]

Innovation is a ruse to contrive so-called investments that only create fees for the contrivers – at the expense of capital formation for our economy. All the innovation is mathematically designed to provide unexplicable leverage at the expense of anyone left holding the empty bag of nothing – which taxpayers backed up with TARP and FDIC money. So all the claims of collateral were LIES! And these lies were not disclosed. Congress needs to appoint a special prosecutor to investigate for 10b-5 violations of existing SEC regulations and become better acquianted with over 1500 page of Bank Holding Co. regulations which prohibit the sale of securities that are “too complex to explain.” Go to my blog at: http://www.howwegotswindled.blogspot.com to understand that my new book, “How We Got Swindled by Wall Street Godfathers, Greed and Financial Darwinism” fully exposes the context and the culprits which nuked our economy and caused so much devestating financial tragedy for so many of our fellow Americans – who are clinically referred to as 17% unemployment! Further my book and my blog expose the real root cause!!!!

[dbapig]

[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]

True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.

You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]

Another thought. Kiva exists for the good of the poor in 3rd world, and for us more fortunate to feel good about doing good.

What can you say about Wall Street?

Let’s not drag the good name Kiva into the pit of Wall Street…

[dbapig]

[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]

True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.

You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]

Another thought. Kiva exists for the good of the poor in 3rd world, and for us more fortunate to feel good about doing good.

What can you say about Wall Street?

Let’s not drag the good name Kiva into the pit of Wall Street…

[dbapig]

[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]

True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.

You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]

Another thought. Kiva exists for the good of the poor in 3rd world, and for us more fortunate to feel good about doing good.

What can you say about Wall Street?

Let’s not drag the good name Kiva into the pit of Wall Street…

[dbapig]

[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]

True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.

You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]

Another thought. Kiva exists for the good of the poor in 3rd world, and for us more fortunate to feel good about doing good.

What can you say about Wall Street?

Let’s not drag the good name Kiva into the pit of Wall Street…

[dbapig]

[quote=dbapig][quote=afx114]Kiva.org is innovation.[/quote]

True but is it really a Wall Street innovation or Tech innovation? It’s more of a tech innovation, aka internet.

You cannot really say ‘Wall Street’ and ‘Kiva’ in the same sentence.[/quote]

Another thought. Kiva exists for the good of the poor in 3rd world, and for us more fortunate to feel good about doing good.

What can you say about Wall Street?

Let’s not drag the good name Kiva into the pit of Wall Street…

[davelj]

I don’t have a problem with financial innovation, per se. None of the following were “bad” products for the first several years of their existences: securitized mortgages, credit default swaps, option ARMs, etc.

The problem is that the nature of Wall Street is to push every innovation (which may be perfectly useful on a limited scale) to the point that it starts to fail. And recently we had a whole bunch of these pushed to the edge and failing all at the same time.

A simple “30-year fixed-rate mortgage” was once considered a major financial innovation. Would it be better if we eliminated mortgages (or credit cards?) altogether? I think not.

I don’t think the problem is innovation. The problem is the degree to which these innovations are foisted upon folks who should have no exposure to them.

[davelj]

I don’t have a problem with financial innovation, per se. None of the following were “bad” products for the first several years of their existences: securitized mortgages, credit default swaps, option ARMs, etc.

The problem is that the nature of Wall Street is to push every innovation (which may be perfectly useful on a limited scale) to the point that it starts to fail. And recently we had a whole bunch of these pushed to the edge and failing all at the same time.

A simple “30-year fixed-rate mortgage” was once considered a major financial innovation. Would it be better if we eliminated mortgages (or credit cards?) altogether? I think not.

I don’t think the problem is innovation. The problem is the degree to which these innovations are foisted upon folks who should have no exposure to them.

[davelj]

I don’t have a problem with financial innovation, per se. None of the following were “bad” products for the first several years of their existences: securitized mortgages, credit default swaps, option ARMs, etc.

The problem is that the nature of Wall Street is to push every innovation (which may be perfectly useful on a limited scale) to the point that it starts to fail. And recently we had a whole bunch of these pushed to the edge and failing all at the same time.

A simple “30-year fixed-rate mortgage” was once considered a major financial innovation. Would it be better if we eliminated mortgages (or credit cards?) altogether? I think not.

I don’t think the problem is innovation. The problem is the degree to which these innovations are foisted upon folks who should have no exposure to them.

[davelj]

I don’t have a problem with financial innovation, per se. None of the following were “bad” products for the first several years of their existences: securitized mortgages, credit default swaps, option ARMs, etc.

The problem is that the nature of Wall Street is to push every innovation (which may be perfectly useful on a limited scale) to the point that it starts to fail. And recently we had a whole bunch of these pushed to the edge and failing all at the same time.

A simple “30-year fixed-rate mortgage” was once considered a major financial innovation. Would it be better if we eliminated mortgages (or credit cards?) altogether? I think not.

I don’t think the problem is innovation. The problem is the degree to which these innovations are foisted upon folks who should have no exposure to them.

[davelj]

I don’t have a problem with financial innovation, per se. None of the following were “bad” products for the first several years of their existences: securitized mortgages, credit default swaps, option ARMs, etc.

The problem is that the nature of Wall Street is to push every innovation (which may be perfectly useful on a limited scale) to the point that it starts to fail. And recently we had a whole bunch of these pushed to the edge and failing all at the same time.

A simple “30-year fixed-rate mortgage” was once considered a major financial innovation. Would it be better if we eliminated mortgages (or credit cards?) altogether? I think not.

I don’t think the problem is innovation. The problem is the degree to which these innovations are foisted upon folks who should have no exposure to them.

[patb]

[quote=briansd1]Credit innovation is just a way to borrow from the future in a way that makes it seem less painful today.

People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.

Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.

Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.

We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.[/quote]

i still buy cars with cash or a 6 month note

[patb]

[quote=briansd1]Credit innovation is just a way to borrow from the future in a way that makes it seem less painful today.

People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.

Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.

Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.

We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.[/quote]

i still buy cars with cash or a 6 month note

[patb]

[quote=briansd1]Credit innovation is just a way to borrow from the future in a way that makes it seem less painful today.

People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.

Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.

Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.

We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.[/quote]

i still buy cars with cash or a 6 month note

[patb]

[quote=briansd1]Credit innovation is just a way to borrow from the future in a way that makes it seem less painful today.

People used to buy cars with cash savings. Then they could buy cars with 20% down. Then they bought cars with zero down. Then they leased cars with residual value at the end of the lease.

Consumption/production gets front-loaded but the debts need to be paid back some way, somehow, in the future.

Wall Street “earned” up-front commissions on making credit available so they don’t care if the debt is ever paid back. The onus will be on the government to bailout the system.

We all end-up in debt servitude where all of our income goes to service debt and to pay for services that we think we need.[/quote]

i still buy cars with cash or a 6 month note

[Author]

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