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A Monopoly's Midas Touch (Derivative Vultures) How do banks generate humongous bonuses? What is the secret of their Midas touch? Nine major banks now control most derivatives, And mum's the word how they're making that much. But there are complaints they've been ripping us off. No way do they want other banks to compete. Nor do they want any hint of transparency Jeopardizing their rights to Wall Street's catbird seat. Do they care what your fixed rate home heating plan costs? What your fuel oil man pays just to hedge against risk? Not if it buys bankers Summer homes in The Hamptons, And business for them, and them only, is brisk. So who'll take the lead in controlling these vultures Not Republicans who use them to finance campaigns. And certainly not Geithner, Bernanke and Summers Whose future employment Blankfein entertains. No, it looks like a case for a team of trust busters, But Joe Biden is busy touting Obama's spin, Eric Holder is busy with more Muslim stinging, And who would trust Palin to end what she'd begin?
Bob Carlson 12/12/10 To 'A Secretive Banking Elite Rules Trading in Derivatives' To 'Bush League Bankers' |