Has the worldwide currency crisis begun?

[[Deleted User]]

It's a global asset management firm that operates over 200 billion in assets. I don't think you know much about big fish or finance bruthah.

I agree with some of what you say about diminishing risk on Wall Street and cutting greedy practices but you have a lot of impractical and uninformed solutions.

Anyone can be a janitor at a bank. Anyway.... Goldman Sachs. Shut them down. JP Morgan. Shut them down. Simple. Practical. Informed. We know all we need to know about their criminal activities. They are not a necessary evil. They are just an evil. A middleman parasite that harms the economy and gives nothing back.

Let's shut down over 2 trillion dollars in assets. BRILLIANT!

If you think they're hurting the economy know imagine what that would do.

They need to be broken up into smaller parts, their assets spread out, and laws made that will prevent the large investment banks from speculating so heavily in the commodities market in the future. In fact they need to be BANNED altogether from speculation in certain markets, such as oil, precious metals and foodstuffs. Propaganda makes it seem like oil is about supply and demand. That used to be the case. They have a vested interest in trying to convince us that it remains true. These fucks do not deliver oil to the market. They speculate on it, causing prices to be artificially high. You're smart enough to figure out what that does to an economy. A few years ago when oil prices tanked, the whole movement was sparked by a single HUGE investment bank speculation sell position in the futures market. Supply and demand? Not quite. They need to be killed either by breaking them up or taxing them so heavily that it's no longer in their best interest to continuing existing. The taxes can then be put to a productive use by helping small businesses to be created and grow. Businesses that give back to the economy, not take away from it.

So you trust the government to repossess over 2.5 trillion in assets, then divide and sell them to rivals we dub more "pure". Christ man, and I get called the anti-capitalist.

I don't trust the government at all. But I think the threat to the economy these kind of companies pose is worth the risk to stop them. As long as people are watching people who are watching people, like in the casinos, with meticulous oversight, the government is the only entity that can get rid of them. Goldman Sachs/JP Morgan, etc. need to DIAF.

The only tangible solution is better monitoring and transparency. You can give the SEC more oversight, leeway to fine companies (JP Morgan paid $20 Billion in fines this year), de-incentivize risky practices like CDS, make trading practices more clear, but you're never gonna get rid of speculating and commodity hoarding. It's not inherent to either of these companies and other firms would just sweep up the assets and do the same.

Again, you didn't really think this one out.