The Bogeyman that the US likes to believed Killed the Machine that tried to make a better world

March 16, 2010

‘Stock Shock,’ is a movie about Sirius XM (http://www.sirius.com) Radio (ticker: SIRI). 

In the words of the director, Sandra Morhr

“We wanted to get the story out about corruption on Wall Street as soon as possible….investors were losing their shirts and we believed the movie would help to educate and protect them.”

If you ask me, stock shock is a crock of shit as what it claims to expose is the a technique known as naked short selling, which the movie fingers as the main culprit behind the collapse of the stock value of some of America’s most promising public companies.

In this rickety plot, Sirius XM is cast as the damsel in distress and the individual investors who saw their stock prices roller coast from a stratospheric high of $9.00/share and then nose dive to the lowest of the low of 5 cents in 2009 form the cast of victims – somewhere in this naiveté fairytale is supposed to be the big bad wolf, short seller – presumably a gang of rich people who seem to do nothing all day except indulge in a spot of financial drive by shootings and the odd marauding.

What I don’t like about this movie is how it elides wholesale the counter narrative that may have been the real reason for the financial meltdown – the bovine tendency of the SEC (Securities Exchange Commission) in the US to accept pronouncements of corporate honcho’s that “it’s business as usual” at face value a la Madoff style.

Along with the unbridled helium filled enthusiasm of the vast majority of faceless investors who just could not possibly believe the market would turn the other way and give them the slap of the century.

The movie ends with a stern tone of finality – where the audience is lead to believe the financial world is controlled by a bunch of freemasons, the Jewish lobby or some lunatic fringe of the Mickey Mouse club. And lends currency to the myth markets should be regulated. But this life saver cannot be implemented because these mysterious group of bogeymen are so powerful they can even move mountains!

Bullshit! Let me share with you all the cold facts; Obama’s economic reform bill is not stuck in the senate because of partisan politics – this has nothing to do with whether the decision makers belong to the democrat or Republican stripe as much as it has to do with how stupid Obama and his economic dream team come across to the house.

For one they believe markets could do with a spot of regulation – but when they are asked to pin point exactly when is the point when a firm gets too big to fail, no one can even answer that simple question – the Obama administration response to this question beggars the imagination and remains till this day a travesty of reason, “we will know it when we see it.” So that sums up the gist of why most lawmakers (democrats and republicans along with the lunatic fringe) are pelting tomatoes and tungsten carbide spanners into the works. They have no faith in Obama. They think he should not muck around with the capitalist machine.

The second reason why this financial crisis had absolutely nothing to do with bogeyman short sellers who are all presumably members of SPECTRE and everything to do with the ineptitude of the US government is because they were the ones who fucked it all up! IT IS BECAUSE OF THEIR MEDDLING IN THE FINANCIAL MARKETS THAT WE ARE WHERE WE ARE TODAY!

Don’t believe me. Then consider this who first came out with the idea of too big to fail? Was it the financial market? Nope. Was it academia? Nope. In fact, I can challenge anyone to try to find one molecule of a school of thought or state of mind that even suggest for one moment that state inspired financial intervention is the prescriptive cure – it all came from the belly of the beast called government – they were the ones who conceived the idea of too big to fail and instead of allowing nature to take its course with juggernaut firms that hit a brick wall such as LTCM and Bear Sterns – they bailed them out with tax payers money – to paraphrase, they said to these losers, “now that you have fucked it all up by burning the shop to a cinder, we are going to give you more money so that you can go and compete with the smart guys who made all the cool moves.” Wonder no more why firms such as AIG, Fannie Mae & Mac, Lehman Bros et al didn’t see the wisdom of reining back, hedging and mitigating their risk exposure – the prevailing logic of US government interference suggested – if things did go wrong –big businesses can always count on the government to step right in and give us money, so that naturally spurred firms to be as big as possible; never mind, if they eat seven times a day. Never mind if they even pile up the pounds by the day, hour and minute – never mind that some of them are so grotesquely big that you can’t even make out any discernable shape or form – big is beautiful! Big means you can never fail, because Uncle Sam will always be there to hand us all the “get out of jail card.”

That in the nutshell is the long and short of the anatomy of failure – as for this whole fanstasy about short seller been solely responsible for the devaluation of the US stock market – that has to be another forlorn dream – fact remains sometimes when firms fail, they just have no where else to go but down the chute; if people decide to buy or sell, it just means that is how the capitalist system works – there is no bogeyman; no secret organization or for that matter anything even fundamentally wrong with short selling – we just call a spade a spade and in this case its called – capitalism.

Fuck your American Propaganda lah!

Darkness 2010

ASDF: “There is a 60% computation on the EP that it may be able to level off against book value that is trading at 6.5 valuation – that means we have it at a PE ratio of 75%, that’s a fair valuation.”

Kadjal 2010: “So is it Green across the board? Do we press the launch button?”

ASDF: “Like we said based on our analysis: There is a 60% computation on the EP that it may be able to level off against book value that is trading at 6.5 valuation – that means we have it at a PE ratio of 75%, that’s a fair valuation”

Kadjal 2010: “What do you think Darkness?”

Darkness 2010: “What this human calculator is saying Kadjal is we have three bullets in a revolver and the game is called Russian roulette – so he is hoping that one or more of those three bullets are duds – if that is the case, we win. If not the odds are 50/ 50. I think since this is the virtual. We should just take everyone in the ASDF who compiled this report and shoot them; then we should get a colorful parrot and pick out cards randomly to make a decision.

Gentlemen, this is the reason why I will never ever want to fly to Munich just to have a real world meeting with the Interspacing Metal Exchange….if people really know how we all make decisions here; then I think, they will be pretty horrified.”

Secret meeting of the Cosca of Guilds in Primus Aldentes Prime – this has been captured by an auto-bot crawler – build, operated and transferred to the FILB – courtesy of the Interspacing Mercantile Guild – The Brotherhood Press 2010

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: