CNBC's "House of Cards"

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kidz kargo's picture
kidz kargo
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CNBC's "House of Cards"

Okay, I don't recommend material unless I honestly consider is very good!  The crash course it excellent!  This documentary series is also excellent!  There are 8 parts all uploaded on youtube.  Part 1 starts a tad slow, but part 2 through 8 really divulge a shocking look from the ground up at the housing mess, american greed, mortgage brokers, investment banks, CDO creation and distribution, the lure, the fraud, the regret, the aftermath and the destruction that follows hubris.

Enjoy!

 

Paul

 

Part 1:  http://www.youtube.com/watch?v=T3OiPgLnpWk&feature=related

Part 2:  http://www.youtube.com/watch?v=Gk-g_kQDYwI&feature=related

Part 3:  http://www.youtube.com/watch?v=jE_TwXCVK3Y&feature=related

Part 4: http://www.youtube.com/watch?v=6dh-XNJBEhU&feature=related

Part 5:  http://www.youtube.com/watch?v=szWGy3oFXbo&feature=related 

Part 6:  http://www.youtube.com/watch?v=ZjahiHyjRns&feature=related

Part 7:  http://www.youtube.com/watch?v=YJlrkER6UDE&feature=related

Part 8:  http://www.youtube.com/watch?v=tZOR-tA5P9U&feature=related 

 

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Re: CNBC's "House of Cards"

I will watch the videos.  However, I am suspicious of anything that CNBC puts out.

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strabes
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Re: CNBC's "House of Cards"

yeah the problem is CNBC doesn't take it to the next step.  they want to blame generic "greed" and blame some of the little people who have made money like realtors, traders, wall st derivatives market makers, etc.  that's all fine.  but they don't expose the real criminals behind everything...the Federal Reserve and the super-rich families who reap the trillions in benefits from that system.  

see the videos in this link for the real story...

http://www.peakprosperity.com/forum/real-most-important-video-series-youll-ever-see/13309 

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Re: CNBC's "House of Cards"

May be it's just me, but I sense more of a drip drip effect in the media.  The bbc reported on the IEA announcement of a potential oil crunch in 2010 on their website; more debate, comment and reports on the on-line versions of some of the broad sheet newspapers.  The video blogs of some of the news channels are starting to tackle some thorny issues, even Fox News on the money supply, of course there was a stronly political angle on this, but they went for it anyway.   

I agree that most articles stop just short of the "real meat" of the issue, but then can Joe Public handle the full force of an indepth report and analysis.

It's a move in the right direction and I for one am happy and I look forward to going through the videos tonight at home.

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Re: CNBC's "House of Cards"

yes I think Joe Public can handle it.  he's getting caught in a mind-war with the mass media framing things according to the left/right paradigm (as you said Fox did).  if one can transcend that and realize it's all a ruse, that frees up a whole lot of mental space to understand what's become so clearly obvious to me, and yet it's quite simple to understand--the rule of the banking elite.  the old boring left/right political debates are completely irrelevant...I'm pissed I filled my mind for 20 years trying to master such minutiae.  now I have more time for life and love.  Cool

if Joe can't handle it, we're screwed.  we need millions of Joes in order to resist the system. 

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Re: CNBC's "House of Cards"

I think it would be a good idea to outlaw GREED. It inflicts so much pain to others for no reason (well, there is one: money for personal luxury or power) and can lead to genocide so easily.

In old violent times people were thaught that killing is a sin. Maybe it is time to learn that greed is immoral as well.

Free markets did the same thing to world's wealth like they did to natural resources (fisheries, forests, oil, etc.). They consumed them like there is no tomorrow. Everybody wanted a piece of pie now. This is what happens when a fundamentally flawed system is left loose. The sum of individual self-interests can too often lead to disaster.

What if we grow up and realize that we cannot live alone. We need each other, hence, the common interest is more important for survival. If we would live with this in mind, world will be a better place.

 

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Re: CNBC's "House of Cards"
Quote:

I think it would be a good idea to outlaw GREED. It inflicts so much
pain to others for no reason (well, there is one: money for personal
luxury or power) and can lead to genocide so easily.

In old violent times people were thaught that killing is a sin. Maybe it is time to learn that greed is immoral as well.

Free markets did the same thing to world's wealth like they did to
natural resources (fisheries, forests, oil, etc.). They consumed them
like there is no tomorrow. Everybody wanted a piece of pie now.
This is what happens when a fundamentally flawed system is left loose.
The sum of individual self-interests can too often lead to disaster.

What if we grow up and realize that we cannot live alone. We need each other, hence, the common interest is more important for survival. If we would live with this in mind, world will be a better place.

Sorry, but you cannot outlaw greed anymore than you can outlaw breathing.  It's an extension of human self-interest.  When greed results in the confiscation of other's rights or properties without due process or just compensation is when it runs amock.  If you want to "outlaw" it, please start with fractional reserve banking and the Fed Reserve.   At the bottom of it all, that is what got us in the mess we're in.  It created the structure upon which the massive fraud perpetrated by wall street and others could grow.

In the absence of unfair laws that favor a few, greed becomes "neutered" to be just "self-interest", and its objects of desire can only be traded openly and justly, in arms-length transactions, without any one group having an unfair advantage over another. 

 

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Re: CNBC's "House of Cards"

wrt CNBC, a relevant observation was made last night in the first installment of the Frontline series.  That is, that CNBC is the "go to" source for news on Wall St.  They claimed that when the credit markets locked up, everyone on Wall St. was glued to CNBC.  I don't know what that means in terms of the credibility of the  station, but apparently the "Masters of the Universe" think its reliable.

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Re: CNBC's "House of Cards"

those who work on Wall St aren't the masters of the universe...they're just sales guys chasing a big W2 by working for Wall St institutions.  They get caught up in the culture and CNBC is the biggest cheerleader.  The people who run and own Wall St are the masters...they aren't sitting around watching CNBC.

Xanb wrote:

What if we grow up and realize that we cannot live alone. We need each other, hence, the common interest is more important for survival. If we would live with this in mind, world will be a better place.

Ugh.  Free markets have been the biggest source of serving the common interest in the history of mankind.  The market is by definition a communal construct.  What you're seeing crashing now has nothing to do with the free market.  It has to do with a modern form of feudalism...central planning by the banking/govt oligarchy that we're all slaves to...the Fed, BOE, BOJ, ECB, Deutschebank, Treasury, Wall St. 

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Re: CNBC's "House of Cards"

I thought the CNBC special was good in that it explained quite clearly to Joe Public what's been going on in the economy since 9/11.

I understand that the scope of any presentation has to have limits, but I was sorry to see the events of 9/11 become the anchor point in this story for the start of all our current problems. I think it would have served Joe Public a little better to have included more discussion of the acceleration of subprime mortgages in the 90s under pressure from Congress and the Clinton administration via injecting steroids into the Community Redevelopment Act.

Our abrogation of the Bretton Woods agreement in 1971 would also have been relevant to the story, as the decoupling of the dollar from gold allowed Congress and the Fed to begin the process of radically increasing the money supply and our national debt. It also illustrated the willingness of our government in times of stress to reneg on seemingly rock-solid, article-of-faith agreements with other countries and its own citizens.

Overall though I am glad that this story is beginning to be told in the Main Stream Media.

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Re: About greed
Patrick Brown: 

I refuse to believe that humans are inherently greedy. And I refuse to believe that

'greed becomes "neutered" to be just "self-interest", and its objects of desire can only be traded openly and justly, in arms-length transactions, without any one group having an unfair advantage over another. '

Greed means "I don't care if others starve, I want to have more and more - of anything." At the end, we all go and cannot take our possessions with us. Then, what is the purpose of accumulating more than necessary? Is that a rational thing to do?

I hate to see capitalism making greed some kind of virtue, or even normality. This is just ideology built on incomplete models. Ideology is just a theory about how the world works. When it fails, they put a patch and off we go again! Another social experiment starts.

Psychologist found out something else in their studies. People have other needs than money and stuff. After the needs for survival (shelter, food, health, etc.) are satisfied, they need security, affection, freedom, leisure time, participation, understanding and to express their creativity. These are well known in the marketing industry - buy this car and you will be loved, or free, etc. Never believe a marketer. They play with people's brains. They should be outlawed too.Wink

So it is possible for people to live within their means and have all their needs satisfied. It is very cheap and environmentally sustainable to make people happier. At the end, this is all that counts. There is still hope for the human kind. Smile

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Re: Who decides what's "greedy"?

Xanb,

What you consider a "greedy" or "luxurious" lifestyle is your opinion.  Who decides what is "greedy" and what is not, in your imagined utopia?  Even with basic necesities, such as shelter, who gets to decide exactly how big a house should be so as to not be considered a "greedy" purchase? 

Let's face it:  you are promoting an ideology that cannot be supported without a totalitarian system that decides what, how much of, and what kinds of things people should have. 

I'm not promoting excess, nor do I disagree that people should live within their means.  But I do not find I or anybody else has the right to enforce their definition of "means" or any other limits on anyone else.

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Re: Who decides what's "greedy"?

yep.  totalitarian system.  or a bottom-up system of self-governance where a responsible morality is developed in the individual's heart.

Xanb, you gotta realize that we don't have a free system of self governance right now, despite politicians' attempts to convince us otherwise.  for a long time we've had the rule of a psychopathically greedy oligarchy which controls our monetary system.  a system like that rots from the top.  it has coarsened everybody's heart and rewarded the type of greed that matches the greed of the oligarchs.  I recommend watching the Money Masters video series. 

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Re: Who decides what's "greedy"?

 Patrick Brown,

Hum, I'm not promoting any ideology. I just stated the results of studies on well-being and happiness done over the time. These studies show that people are not actually greedy. If they were, they would have answered that they need money, and big houses, and fancy cars. These were the findings common to all cultures and over time.

It doesn't happen in an utopian world. It is happening now, in this world. As a consequence, the model offered by the current ideology does not fit to the real world. That is why they need to manipulate people's minds through marketing and television.

 Who decides what's "greedy"? Usually society makes up some limits of behaviour for its individuals and it is called culture. For sure, in a world of scarcity, greed won't be a virtue.

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Re: Greed

I agree with strabes. We need to see greed in the context of our current circumstances;

Family and
local community were the primary mechanisms of learnt self restraint and
empathy. As our numbers have risen, government through laws
and education had taken over this role at least from the community if
not the family.

What has recently gone so very wrong is that western governments have
pretty much abandoned this role and left a vacuum filled by unchecked
addictions. Within this vacuum we also witness the rise of the
controlling self interest group or oligarchy. This is why, if the only fix is a big fix, there is no fix.

We must form human scale groups with our neighbours (not by preference) and try to find our way again. Without leaders and acting by concensus. Cooperation is sense not sacrifice. It is the only practical thing we can do in our long term best interests.

Don

_____________________________________

 7 billion people can be wrong, very wrong

 

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Farmer Brown
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Re: Who decides what's "greedy"?

Xanb,

You said: 

Quote:

These are well known in the marketing industry - buy this car and you will be loved, or free, etc. Never believe a marketer. They play with people's brains. They should be outlawed too.

Emphasis is mine.  Sounds like totalitarianism to me.

 

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Re: CNBC's "House of Cards"

Like almost everything involving humans, "totalitarianism" and "freedom" are gray concepts.  There is a continuum of freedom, if you will, and society/culture determine where the line is drawn, using tools such as laws and education.

.                                      Freedom Continuum                                 .

•----------------------------------------------------------------------------------------------------•

free-for-all                                                                                 imprisoned

On one end of the continuum, what I labeled "free-for-all", is unfettered, total and complete freedom: you can do whatever you want, whenever you want and to whomever you want.  On the other end, what I labeled "imprisoned", you are chained and immobilized with no control of anything other than your breathing and heart-beating.

Patrick, I believe what you are referring to as "totalitarianism" is something more to the right of the "Freedom Continuum", but not all the way to the right.  And, I'm guessing, you would consider "freedom" something towards the left of the spectrum, but not all the way to the left.  To Ted Bundy, what you perceive as freedom would appear totalitarian (a rightward shift on the continuum).  To a man locked up in solitary confinement, he might envision, for instance, that upon his release from prison that a mere constraint on how much wealth he can accumulate as he walks freely on the earth is still "freedom" (a leftward shift on the continuum).

My point is that labels such as "totalitarianism" and "freedom" (and the limiting connotations that come with them) are relative and their use is a hindrance to taking the steps to improving our world for the better.   We choose, as a society, where the lines are drawn, but they are not permanent lines.  If we get hung up on terminology/labels/ideology, we potentially close our minds to the near-infinite possible ways of improving our short existences.

Chris

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Re: CNBC's "House of Cards"

in a way, that line sort of connects into a circle...total anarchy = total tyranny...that extreme spot on the circle can never really be reached.

I prefer thinking about it as a line with bottom-up citizen control on one end and top-down elite control on the other.  the world is currently on the top-down elite side.

 

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Re: CNBC's "House of Cards"

Yeah, I noticed that circularity, too, strabes, which underscores the point I was trying to make that one man's freedom is another man's tyranny.  Basically, it comes down to who is in control of determining the condition of one's freedom.  Like you said, we're currently in a situation where elites have more control.  Of course, the fact that there exists a group of people who are considered "elite" implies that they are more special and deserving of greater influence than the rest of the non-elites.  It's interesting to me how the accumulation of money and power is considered by many as an indication of quality of person, as if s/he who amasses the greatest monetary wealth deserves to make the rules for the rest of us.  So many Americans are willing to trust people who fly around in Lear jets and wear nice suits to decide what's best for everybody, because they fly around in Lear jets and wear nice suits.  It boggles my mind and sickens my stomach. [How again does this relate to the forum thread?  Ah yes, greed.]

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Re: CNBC's "House of Cards"

it totally sickens my stomach too even though I used to fly around in suits.  :)   like I said on another thread, I look up more to a hunter from north dakota who married his high school sweetheart and does volunteer fire duty than anybody wearing a suit playing the game.

suit/jet people (the bourgeois) and the people who look up to them may think they have power.  but it's just an illusion.  they really have no power either.  it's the british royal family and german aristocracy (the old anglo-saxon bastards), the Rothschilds, Rockefellers, etc. that really have the power.   

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