"the warning" Check it out on Frontline. Greenspan, Geithner, Summers, and Rubin gang up on Borne who wanted to regulate trading in derivatives ("valued" at from 500 to 1000 TRILLION dollars). Borne: "we are trying to protect the taxpayers who will pay if this crashes"! We bailed out the crooks who gambled and lost on their bets on derivatives. Now, a year later, after 12 TRILLION + in direct aid and guarantees, and a 0 % interest rate, the "banks" are making record "profits", and are giving BILLIONS in bonuses! (20 BILLION at the chief crook, Goldman Sachs)!!!
Of course, these "profits" are NOT from their loans to individuals or companies; they are from bets on derivatives and from bets on commodities (Gold, Silver, Oil, etc.). Gambling on sporting events is the only real free market. These free market advocates should have NOT been bailed out. Especially by the rest of us who will never share in the "profit" from the speculation in derivatives.
Prediction from old school: the rise in the stock market is due to a reinflation of the derivatives bubble. The bubble will burst; stocks will crash; and these crooks will, once again, beg for bailouts. Will the rest of us bail them out again?
