/dev/null Posted August 6, 2011 Share Posted August 6, 2011 http://www.cnbc.com/id/44039103 Link to comment Share on other sites More sharing options...
DC Tom Posted August 6, 2011 Share Posted August 6, 2011 http://www.cnbc.com/id/44039103 The government complaining someone else's math is off by fifteen figures...that's just funny. Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted August 8, 2011 Share Posted August 8, 2011 The government complaining someone else's math is off by fifteen figures...that's just funny. S&P credibility....even funnier A Treasury employee noticed the $2 trillion mistake within the hour, according to a department official. The Treasury called the company and explained the problem. About an hour later, the company conceded the problem but did not indicate how it planned to proceed, the official said. Hours later, S&P issued a revised release with new numbers but the same conclusion http://seattletimes.nwsource.com/html/nationworld/2015833709_econ06.html oops Link to comment Share on other sites More sharing options...
Magox Posted August 8, 2011 Share Posted August 8, 2011 S&P credibility....even funnier http://seattletimes.nwsource.com/html/nationworld/2015833709_econ06.html oops It's because of the long-term outlook, which is what I've been trying to say Link to comment Share on other sites More sharing options...
Peace Posted August 8, 2011 Share Posted August 8, 2011 S&P credibility....even funnier Yes, all is well Dave. This is not the national debt problem you're looking for. Move along. Link to comment Share on other sites More sharing options...
DC Tom Posted August 8, 2011 Share Posted August 8, 2011 S&P credibility....even funnier What experience do you have in the financial industry? Link to comment Share on other sites More sharing options...
Dave_In_Norfolk Posted August 8, 2011 Share Posted August 8, 2011 What experience do you have in the financial industry? None Tom, why do you ask? Link to comment Share on other sites More sharing options...
....lybob Posted August 8, 2011 Share Posted August 8, 2011 What experience do you have in the financial industry? He probably has had an intimate but not exclusive experience with the financial industry seeing how they !@#$ed most everyone in America. Link to comment Share on other sites More sharing options...
Magox Posted August 8, 2011 Share Posted August 8, 2011 He probably has had an intimate but not exclusive experience with the financial industry seeing how they !@#$ed most everyone in America. They did !@#$ up big time! No doubt. Link to comment Share on other sites More sharing options...
....lybob Posted August 8, 2011 Share Posted August 8, 2011 They did !@#$ up big time! No doubt. The problem with the finance industry is they have given up in large part their societal function of vetting capital to useful production and instead shuffle their increasingly abstract financial products around skimming off the top. The former increases the size of the pie, the latter just redistributes the pie and in fact destroys a small part of it in each go around. Link to comment Share on other sites More sharing options...
Magox Posted August 8, 2011 Share Posted August 8, 2011 The problem with the finance industry is they have given up in large part their societal function of vetting capital to useful production and instead shuffle their increasingly abstract financial products around skimming off the top. The former increases the size of the pie, the latter just redistributes the pie and in fact destroys a small part of it in each go around. Well, they still distribute funds to the economy for "useful production" purposes, just that they also have tons of financial products that don't have any other purpose than to leverage money in the name of just making money. Link to comment Share on other sites More sharing options...
....lybob Posted August 8, 2011 Share Posted August 8, 2011 Well, they still distribute funds to the economy for "useful production" purposes, just that they also have tons of financial products that don't have any other purpose than to leverage money in the name of just making money. If you look at the GDP share of U.S. financial industry compared to historic levels .......well forget it you won't believe it until it happens. Link to comment Share on other sites More sharing options...
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