A proposito dei soliti predicozzi su finanziarizzazione dell'economia, Moral Hazard, too-big-to-fail, lobby finanziaria al comando etc etc etc etc etc etc etc etc
In questa Grande Crisi che ha visto il sistema bancario/finanziario "d'azzardo" come uno dei principali responsabili del patatrac...
vediamo un po' CHI è stato avvantaggiato maggiormente o meglio come non era mai accaduto nella Storia....
mentre in cambio ha dato ben poco all'Economia Reale.
The Winners are.....le Big Banks di Wall Street, off course....
Ma avevate forse ancora qualche dubbio?
E non mi dite che non c'erano altre vie....perchè c'erano, eccome!
Le nostre care amichette di Wall Street
stanno per archiviare i due anni migliori di SEMPRE, proprio grazie ai bailout gentilmente concessi da tutti i contribuenti (bambini in fasce compresi) senza chiedere nulla o quasi in cambio...
e senza nemmeno chiedere l'opinione dei diretti interessati (Oibò...! Poffarbacco!)
Questi risultati da Guiness dei Primati di Wall Street si materializzano proprio a cavallo della Grande Crisi, la peggiore dalla Seconda Guerra Mondiale...
e proprio mentre Main Street (economia reale) sta annaspando da più di due anni.
Ma naturalmente non c'era altra scelta, giusto?....;-)
E la nostra cara Wall Street a mo' di ringraziamento ha già ripreso a giocare al casinò come prima e più di prima, con i nostri soldi naturalmente....
Mi tornano in mente come un mantra le parole del Grande Vecchio della FED, Paul Volcker:
Ommmm....innovazione finanziaria degli ultimi 15 anni di valore zero per l'economia reale
Ommmm....il bancomat (anni ’70-’80) = ultima innovazione finanziaria che ha dato benefici all’economia reale
Ommmm....2007: banche 40% come profitti della Borsa USA contro un 10% nel 1970
Ommmm....no valore aggiunto per l'economia reale ma solo arricchimento dell’élite finanziaria
Ommmm....travaso da economia reale alle tasche dei soloni della finanza
Wall Street Set For Best Two Years Ever, Thanks To Bailout
Two agonizing years for the U.S. economy have been some of the best years on record for Wall Street.
After first receiving billions in taxpayer aid, and now ultracheap funding from the Federal Reserve, Wall Street banks are on track to wrap up two of their best years ever.
Even if the current quarter only matches the third in revenue, this year will be the second best ever for Wall Street, capping a two-year winning streak fueled by government dollars, Bloomberg reports.
With more than $100 billion in their pockets from the Troubled Asset Relief Program, which offered them hundreds of billions more, the five biggest investment banks -- Goldman Sachs, JPMorgan, Bank of America, Citigroup and Morgan Stanley -- have seen their revenue this year climb to $93.7 billion.
"This is a once-in-a-lifetime opportunity for most of these banks, and I think they've recognized it as that," finance professor Charles Geisst told Bloomberg.
The assistance hasn't stopped with TARP. The Fed is in the process of buying $600 billion in government debt -- from banks.
As part of its quantitative easing program, the Fed announces its purchases ahead of time, giving certain banks an opportunity to profit on the trades.
The asset-purchase program, intended to augment the flow of cash through the economy, is first and foremost a boon for corporate America.
According to an October estimate, Wall Street firms are set to pay out $144 billion in bonuses this year, to break a record for the second year in a row.
..... Critics note the disparity between banks' earnings and the state of the real economy. ...
After the worst financial crisis since the Great Depression, caused in part by large-scale gambling on Wall Street, unemployment has remained stuck around 10 percent.
Companies, meanwhile, are hoarding cheap cash instead of using it to create jobs............
After first receiving billions in taxpayer aid, and now ultracheap funding from the Federal Reserve, Wall Street banks are on track to wrap up two of their best years ever.
Even if the current quarter only matches the third in revenue, this year will be the second best ever for Wall Street, capping a two-year winning streak fueled by government dollars, Bloomberg reports.
With more than $100 billion in their pockets from the Troubled Asset Relief Program, which offered them hundreds of billions more, the five biggest investment banks -- Goldman Sachs, JPMorgan, Bank of America, Citigroup and Morgan Stanley -- have seen their revenue this year climb to $93.7 billion.
"This is a once-in-a-lifetime opportunity for most of these banks, and I think they've recognized it as that," finance professor Charles Geisst told Bloomberg.
The assistance hasn't stopped with TARP. The Fed is in the process of buying $600 billion in government debt -- from banks.
As part of its quantitative easing program, the Fed announces its purchases ahead of time, giving certain banks an opportunity to profit on the trades.
The asset-purchase program, intended to augment the flow of cash through the economy, is first and foremost a boon for corporate America.
According to an October estimate, Wall Street firms are set to pay out $144 billion in bonuses this year, to break a record for the second year in a row.
..... Critics note the disparity between banks' earnings and the state of the real economy. ...
After the worst financial crisis since the Great Depression, caused in part by large-scale gambling on Wall Street, unemployment has remained stuck around 10 percent.
Companies, meanwhile, are hoarding cheap cash instead of using it to create jobs............
