Mad Banker Scientists (Citigroup)

[Deckard1973]

The R&D departments at the big banks are still experimenting in their laboratories. The latest idea for financial “innovation” comes from Citigroup. It is working on the first derivatives that would pay out in the event of another financial crisis.

Rest of the disturbing article:  http://www.publicradio.org/columns/marketplace/scratchpad/2010/02/mad_banker_scientists.html

[cz]

The R&D departments at the big banks are still experimenting in their laboratories. The latest idea for financial “innovation” comes from Citigroup. It is working on the first derivatives that would pay out in the event of another financial crisis.

Rest of the disturbing article:  http://www.publicradio.org/columns/marketplace/scratchpad/2010/02/mad_banker_scientists.html

Who exactly is supposed to pay?  Oh, wait, I remember now... they take out the default swaps with AIG, and then when the economy tanks again, AIG gets bailed out by the taxpayers to the tune of $trillions this time, that they use to pay to Citigroup, GS, etc, at 100% value on their default swaps.   A new twist on the same old way to rape the public.

[Zappalives]

http://www.risk.net/risk-magazine/news/1590861/citi-plans-crisis-derivatives

[metaforge]

Anybody that invests in bullshit like this needs to have their heads examined.  Why would anyone trust yet another financial derivative hedging product invented by these retards?   Where's the "regulation" we're supposedly getting to make sure big bets aren't made on this crap anymore?  What a joke.

[metaforge]

Mods should probably merge this thread with this one: http://www.doomers.us/forum2/index.php/topic,61728.0.html

[cygnus]

So Citigroup is planning to short the recession, eh?   

[TravelsHopefully]

It is working on the first derivatives that would pay out in the event of another financial crisis.

Well not really the first - during the last crisis, the inverse geared ETF SKF performed pretty well.

[jaypro]

So Citigroup is planning to short the recession, eh?   

 

Or long the length of recovery needed 

[juliasdream]

The R&D departments at the big banks are still experimenting in their laboratories. The latest idea for financial “innovation” comes from Citigroup. It is working on the first derivatives that would pay out in the event of another financial crisis.

Rest of the disturbing article:  http://www.publicradio.org/columns/marketplace/scratchpad/2010/02/mad_banker_scientists.html

These guys really invest in the long-run.  Sucks for me.  I live for the future because i see life as a great big gift that i should be able to enjoy till i die.  The thinking of these top bankers is " SHIT, i'm alive and I'm making a crap load of money; no way this can last, lets just get what we can while we are here". 

[paland]

Anybody that invests in bullshit like this needs to have their heads examined.  Why would anyone trust yet another financial derivative hedging product invented by these retards?   Where's the "regulation" we're supposedly getting to make sure big bets aren't made on this crap anymore?  What a joke.

Who would buy these?  Why, anyone who wants to make lots of money.  Remember the last time the derivatives blew up?  Most of those who created the mess made out like bandits.  And they will make money on these again.  They arent retarded by any means and they know that there just isnt anyone out there who can stop this.

[metaforge]

Anybody that invests in bullshit like this needs to have their heads examined.  Why would anyone trust yet another financial derivative hedging product invented by these retards?   Where's the "regulation" we're supposedly getting to make sure big bets aren't made on this crap anymore?  What a joke.

Who would buy these?  Why, anyone who wants to make lots of money.  Remember the last time the derivatives blew up?  Most of those who created the mess made out like bandits.  And they will make money on these again.  They arent retarded by any means and they know that there just isnt anyone out there who can stop this.

Right.  Like anyone who gives these guys their money is going to end up making money.  Talk about making a deal with the devil.  No thanks.  Good luck with your gambling if you go for something like this - hold on to your soul, cuz they'll be trying to tug it out.

[cz]

Anybody that invests in bullshit like this needs to have their heads examined.  Why would anyone trust yet another financial derivative hedging product invented by these retards?   Where's the "regulation" we're supposedly getting to make sure big bets aren't made on this crap anymore?  What a joke.

We will get the best regulation GS, Citi, BofA, etc, can buy... ie, good for them, shitty for everyone else.