The Con Artist - Part 4
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Friday August 31, 2007
POLITICAL ESSAYS
The Con Artist - Part 4
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Under the August 31st headline "Why A U.S. Subprime Mortgage
Crisis Is Felt Around the World," the NY Times quotes First
State's deputy head of Asia-Pacific equities:
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"Liquidity can just be turned off, and essentially it is a
confidence game."
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Under the same-date headline "Stocks Rise After Bush, Bernan-
ke Speak," AP reports "Wall Street closed out another erratic
week with a big gain Friday after investors took comments from
...Bush and...Bernanke as reassuring signs...."
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AP quotes Church Capital Management's portfolio manager:
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"You've got all the speeches working for the market here."
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Imagination says liquidity can be turned on with a word or two.
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After all imagination is essentially a confidence game.
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But not all play that game.
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Back to the Times news analysis--
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"Foreign politicians and regulators are seeking a role in the
oversight of American markets, banks and rating agencies."
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For instance:
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"The head of the Council of Economic Analysis in France has
called for complex securities to be scrutinized before banks
are authorized to buy them."
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But that flies in the face of one of the principal clauses
of The Superpower's Declaration of World $lavery:
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THERE SHALL BE NO TRUTH EVER AGAIN, ANYWHERE !
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Imagine that.
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NYT:
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http://www.nytimes.com/2007/08/31/business/worldbusiness/31derivatives.html?ref=business&pagewanted=print
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AP:
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http://news.yahoo.com/s/ap/20070831/ap_on_bi_st_ma_re/wall_street&printer=1
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The Con Artist essays:
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http://groups.yahoo.com/group/PoliticalEssays/message/869
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http://groups.yahoo.com/group/PoliticalEssays/message/870
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http://groups.yahoo.com/group/PoliticalEssays/message/910
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The Exchange essay:
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http://groups.yahoo.com/group/PoliticalEssays/message/963
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date: Sat, 01 Sep 2007 08:50:33 -0700
author: unknown
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