[Vision2020] Wall Street Insiders Were Bush's Best Buddies!

[Ted Moffett]

These figures regarding the US Federal budget are small potatoes, as we say
in Idaho, compared to the speculative indulgence in derivatives during the
Bush administration, which the Wall Street Casinos utilized to gild
the wealth of insiders, as the Bush administration treated them as royalty,
with no need of sensible financial regulation, while they spun their
roulette wheels to the point of creating a recession, taking their loot and
laughing all the way to... The Cayman Islands, etc.:

http://www.iii.org/financial2/securities/derivatives/

    *GLOBAL DERIVATIVES MARKET, 1998-2007 (1)*

*($ billions)*


*Year<http://www.iii.org/financial2/securities/derivatives/?table_sort_652020=2>
*
*Exchange-traded<http://www.iii.org/financial2/securities/derivatives/?table_sort_652020=3>
*
*Over-the-counter<http://www.iii.org/financial2/securities/derivatives/?table_sort_652020=4>
*
*Total<http://www.iii.org/financial2/securities/derivatives/?table_sort_652020=5>
* 1998 $13,932 $80,318 $94,250 1999 13,553 88,202 101,755 2000 14,278 95,199
109,477 2001 23,764 111,178 134,942 2002 23,816 141,665 165,481 2003 36,740
197,167 233,907 2004 46,592 257,894 304,486 2005 57,789 297,666 355,455 2006
70,444 414,845 485,289 2007 80,581 596,004 676,585

(1) Notional principal value outstanding. Notional value is the underlying
(face) value.


Source: Bank for International Settlements.



>   Obama’s Spending vs Obama’s Spending Cuts in Pictures
>
> According to reports<http://www.washingtonpost.com/wp-dyn/content/article/2009/04/19/AR2009041902009.html>,
> President Obama plans to convene his Cabinet for the first time today, where
> he will order members to identify a combined $100 million in budget cuts
> over the next 90 days. Just how laughable is President Barack Obama’s latest
> stunt to try an maintain his fiscal responsibility credentials?
>
> —Heritage Foundation<http://blog.heritage.org/2009/04/20/obamas-spending-vs-obamas-spending-cuts-in-pictures/>
>
> More Democrat form over substance (hey, look! I cut the budget!).
>
> See if you can find the dot…
>
> [image: 20090419obamacuts]
> Published Monday, April 20, 2009 8:41 AM by Right-Mind
>
>

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Vision2020 Post: Ted Moffett
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