I seriously propose that we charter a National Bank of FUBAR

[Phoebe Loosinhouse]

and that every nation do the same. This is where we offload the derivatives that are lurking out there like a black hole that will vacuum up the assets of the world. This banking system will have it's own exchange, it's own regulators and it's own currency The derivative contracts will have their terms changed from 5 years to 500 years for settlement.


The new currency (buncos) will be bright pink notes that are a yard across with a giant clown in the center. The currency will only be accepted at Starbucks and the Dollar Store.

The new banks will be housed in specially built "green" buildings, where the electricity will be provided by hundreds of yoked CEOs turning a giant turnstile that will trigger a mechanism that releases bundles of their worthless contracts into a giant furnace.



What is beginning to anger me is that this current bailout is such an obvious short term ploy to calm the markets when they know that bigger, badder things are lurking out there. Why do we just have to lurch from crisis to crisis?





If you are not sure what I am referring to - here is an great post from judasdisney who collected some excellent concise articles

judasdisney (822 posts) Tue Sep-23-08 05:24 AM
Response to Original message
4. The $1.14 Q-u-a-d-r-i-l-l-i-o-n $$$ REAL timebomb: the Derivatives Market bubble
You ain't seen nothin' yet.

Wait till President Obama gets hit with the REAL timebomb --

-- the derivatives market bubble.

One Q - U - A - D - R - I - L - L - I - O - N DOLLARS

http://news.bbc.co.uk/1/hi/business/2817995.stm

http://www.freemarketnews.com/Linked-Commentary.asp?nid...

http://www.opednews.com/articles/IT-S-THE-DERIVATIVES-S...

http://en.wikipedia.org/wiki/Derivative_security

[Phoebe Loosinhouse]

1. I really meant my main proposal about creating a quarentine bank for the derivatives

and possibly extending their terms way way way out.