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NY Times finally spills the beans!

  • 12-12-2010 3:37pm
    #1
    steelcityblues
    Registered Users, Registered Users 2 Posts: 4,630 ✭✭✭


    Details of secretly monthly meetings in Manhattan between nine banking member groups published in an article today - the usual suspects there: Goldman Sachs, Morgan Stanley, etc. Vast trading in derivatives goes on amongst ranks, in other words a special form of insurance for those who facilitated the mess in the first place.

    Well done NY times for publishing all of this information after the banking crash has happened - brave, fearless, journalism right there. :rolleyes:

    I guess this article will appease those on here and elsewhere who pointed fingers at others for years as engaging in 'fantasy' for suggesting a thing like this was going on in elite circles.


    http://www.nytimes.com/2010/12/12/business/12advantage.html?pagewanted=1


Comments

  • #2
    Mr.Micro
    Registered Users, Registered Users 2 Posts: 5,336 ✭✭✭Mr.Micro


    steelcityblues wrote: »
    Details of secretly monthly meetings in Manhattan between nine banking member groups published in an article today - the usual suspects there: Goldman Sachs, Morgan Stanley, etc. Vast trading in derivatives goes on amongst ranks, in other words a special form of insurance for those who facilitated the mess in the first place.

    Well done NY times for publishing all of this information after the banking crash has happened - brave, fearless, journalism right there. :rolleyes:

    I guess this article will appease those on here and elsewhere who pointed fingers at others for years as engaging in 'fantasy' for suggesting a thing like this was going on in elite circles.


    http://www.nytimes.com/2010/12/12/business/12advantage.html?pagewanted=1

    What a scoop. The fearless journalists expose 2 years old plus news. So long as Newspapers are owned by big business tycoons such as Murdoch little will change.


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