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The Scam Wall Street Learned From the Mafia | 63 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
ridiculous
Authored by: Anonymous on Friday, June 22 2012 @ 05:29 PM EDT
There are thousands of parasites on Wall Street doing all sorts of illegal (and legal) things to suck the blood out of the nation's economy.

It takes them 10 years to bring 3 of them to justice, and this is some sort of victory?

[ Reply to This | Parent | # ]

The Scam Wall Street Learned From the Mafia
Authored by: Wol on Saturday, June 23 2012 @ 01:32 PM EDT
Hmmm...

Two easy fixes ... but I doubt they'll be implemented.

Firstly, all these bond issues - rather than sell them immediately they're
created, create them as treasury bonds (ie still owned by the issuing
organisation) and sell them off as required. That way, you're not losing on
arbitrage, paying a higher rate to borrow and getting a lower rate lending it on
(plus avoiding the risk of the person you're lending to going bust).

Secondly, create a municipal bond clearing house. OPEN auction, banks are
welcome to participate, but all government organisations trade here, whether
buying or selling. So if you do sell off your entire bond to start with, you can
invest it in other municipal bonds.

And it would also provide a nice convenient place for short-term municipal
loans, if a city say has a load of tax come in one month, but isn't due to spend
it straight away, they can lend it to another city that needs it today but the
tax won't come in for a month or two.

Cheers,
Wol

[ Reply to This | Parent | # ]

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