Thursday, November 25, 2010

Matt Taibbi: It's Rigged, Everyone Is Insider Trading


  1. Coming soon to a baby boomers middle class pension paradise country like your own where you thought your retirement benefits and retirement age were secured.
    Well, someone has to bail out the banks and governments to pay the debts of insolvent belly up ponzi economies .
    And it certainly will not be the bankers as we saw in Ireland too.

    Hungary is giving its citizens an ultimatum: move your private-pension fund assets to the state or lose your state pension.

    Economy Minister Gyorgy Matolcsy announced the policy yesterday, escalating a government drive to bring 3 trillion forint ($14.6 billion) of privately managed pension assets under state control to reduce the budget deficit and public debt. Workers who opt against returning to the state system stand to lose 70 percent of their pension claim.
    “This is effectively a nationalization of private pension funds,” David Nemeth, an economist at ING Groep NV in Budapest, said in a phone interview. “It’s the nightmare scenario.”

  2. capitalist freedom in social security does not seem to be working well in practice for these x "socialist" bloc countries ?

  3. 6:42 i saw that, and of course argentina did and all to fund gov debt, retirement? what? lol. The US committee has discussed something similar here..some government guaranteed fund in which all IRA's and roth's etc would be moved over to this new fund...outright blackmail move..we've had blackmail here..if u don't pass this we'll let prisoners out, if you don't pay for this we'll remove police and fire protection and the if you don't pass TARP martial law will be declared on the nation!

  4. the people will know it was by partison when you representives cant afford to show face in public. Liers ever make good friends. wallstreet people sit in markets making people think they have good items for sale. People pay 400 dollars of cash for something worth 20 dollars. Watch shows where con men sit playing cards and have person come and think its real but people playing cards were conmen. wallstreet plays without rules. We needed Obama to take them out but he failed. We need to impeach Obaman cause he didnt do promises. He lied like that. but when bad stuff comes get with family and get ready folks. take my word these traders are worse than you think.

    - Sam


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