Posted 8 years ago on Nov. 24, 2011, 6:48 p.m. EST by FormerWS
This content is user submitted and not an official statement
I am a former consultant for a few major wall street companies that worked on speculative trading. I left in disgust because of there complete antipathy towards humanity. If you knew anything about whats going on right now in the markets as a conservative you would be in the streets protesting.
The american government is backing a considerable portion of the derivates market liabilities through the FDIC. To put it into perspective Bank of America alone has bout 70 trillion in Derivative liabilities its trying to push onto the FDIC. If a derivates failure occurs due to the dependent investments go sour. For example the Europe debt crisis or political instability in the middle east, or the money market funds. We would face a major devaluation of the dollar. As well as the risk for losing our position as the reserve currency.
While OWS is a eclectic group. The general sentiment is fundamentally correct. Republicans and democrats. Conservatives and Liberals needs to stop bickering. The level of speculative trading being done with peoples 401k's, pension funds, bank accounts and investments is being leveraged in the upwards values of 100 to 1. Meaning they will NEVER be able to pay off those liabilities.
The problem is severe, it is deeply rooted in lobbying and deregulation. It will affect the poor, middle and the upper class. This means if your not in the top .0001% you will be lose the majority of your savings, investments and value of your capital.
This is not 99% vs the 1%, this is a 99.999% vs .0001%. The only ones that will be immune to a derivative and speculative trading collapse are those insulated with alternative currencies and massive commodity investments.
If people do not come together you will all fall separately .