Turns out according to CBS 60 Minutes that Morgan Stanley was the nation’s biggest oil company. We were all paying a $2/gallon tax to rich investors. The collapse probably saved us money in the long run. For those of you who thought the market was being manipulated – you were right!
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# 19 Arous
“Is 60 Minutes not explaining that during it’s broadcast just as unconscionable?”
Of course not. Who did 60 Minutes rob?
#23, Pedro the *A*hole,
Quite your whining. It was the conservative wing that wanted to relax regulations and the neo-cons in the White House that royally screwed up the oversight.
When people are in as much denial as you, it is a wonder these messes ever get fixed.
I’ll say it again. There isn’t one regulation on the books that hasn’t been asked for because someone wanted to do something society deemed wrong. The right wing conservatives want to do away with regulations because they stand in the way of taking advantage of people.
#31, Ron,
A very thoughtful piece. The one area I might disagree, with the caveat I don’t have the same connections Cow-Paddy does, is the current Gaza uprising. I think this probably has more to do with Bush leaving office and Israel can do as they please. They will settle down to a cease fire by Inauguration Day.
The rest though was smack on!
#31 I do not know if the fight in Gaza is partially driven to drive up the price of oil. But I’d bet my last dollar a lot of the attacks on oil pipelines and kidnappings of oil company personnel in Nigeria can be tracked back to some oil exporting countries such as Iran, Venezuela, and Russia. Never forget, Putin was in the KGB before the fall of the Soviet Union.
Ending the ban on offshore oil drilling had a substantial impact. Or was it just a coincidence that prices stared dropping at that time?
#40 The price drop had more to do with the large investors and speculators having to bail from the market to cover their losses.
/random lousy grammatical thoughts for your
speculating pleasure..
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the fact that morgan stanley and goldman sachs play a heavy hand in this is should be no surprise..it stinks of massive long term market manipulation for a good reason…
-Morgan Stanley Goldman Sachs and were part of a consortium that bought london’s
International Petroleum Exchange back in 2001..
-whats the saying, Que Bono?
of course, if 60 Minutes wasn’t just another corporate media puppet..and actually connected the *real* dots for the public to see, they would have revealed this fact (amongst many others) in the report. or how about the recent revelations of JPMorgan suppressing/manipulating gold prices..
just like madoff is getting a walk…so will these crooks..
—
allowing savings banks and investment banks to merge (and all the deregs that came with it) gave the major banks the means to leverage and manipulate anything their hearts desired to heights only dreamed of in the past..
i’m willing to bet that this was the actual big-picture intention of the all the repeals and deregulations meant to get those high risk, no income earners into houses.. -that was just a “feel-good” cover..
-imo, G&S and JP and their ilk are more dangerous than any country on the planet..
to quote a Rothchild…
“I care not what puppet is placed on
the throne of England to rule the Empire, …
The man that controls Britain’s money
supply controls the British Empire.
And I control the money supply.”
-anyone think its any different here in the US..past or present?
-s