tag:blogger.com,1999:blog-3782644139927778760.post-5252860187315549142008-05-02T07:52:00.000-04:002008-05-02T07:52:00.000-04:002008-05-02T07:52:00.000-04:00Sounds like the "moral hazard" was on full display. The frat boy sociopaths continue to call the shots while the Government scurries after them cleaning up the mess. <BR/><BR/>All derivative financial models "derive" their value through the inherent assumption that the return of capital is of fundamental importance. Clearly, <BR/>derivative securatization has been employed as a vehicle for committing fraud on an unimagineable scale. The securities were misrepresented and sold by the financial industry to collect short term fee based income with the clear intent of defrauding the public. <BR/><BR/>Gangsters are always full of hubris and sociopathic cruelty. The corruption has penetrated government to the core, including law enforcement. The complete collapse of the financial system may be the only outcome possible under the current structure.Anonymousnoreply@blogger.com