After months of discussions and processed products on CDOs and CDS, the financial world has become a good smattering of the product.
The intention of the writer is all in point the finger on the culprit, here you really want to investigate the U.S. Finance, the Fed and the entire U.S. banking system: essentially a system of finance that just do not have to nothing to do with ethics and morality.
Newspapers and TV continually speak now of finance and the crisis spreads, but are very careful in avoiding the discussion of who has caused this crisis: the U.S.. We are now importing American wire now the way we think, what sets us unrealistic against a country that has made a financial Supermarket; However, without considering that the products displayed on shelves are just pieces of paper (waste) and not the actual products which are outside the organization and the production of tangible goods , whether assets and human capital. These financial engineering products created by a select few of the innovative financial wizards, are then placed by experienced sellers on the market by passing them as any Bond or Bund, capital guaranteed. But where is the error: in who controls and controllers in the organs, the Fed in the first instance and the central banks.
Another negative is that the Asset Management Italians do nothing but buy packages already packaged by major foreign banks (Morgan Stanley, UBS, Lehman Brothers and many others), then regardless of their composition, although I must say, the current managers are more careful than the year 2000 when savers were given everything.
I think the solution lies in making new reforms in this regard and also the European Community should equip itself in the controls to the products they are at the investor end, but not limited to: check and then put stakes in banks Purchase of these products by linking for example, banking institutions, to hold deposits in banks parallel to ensure at least 50 plants and 100% of the amount invested in products to leverage, simultaneously prohibit these come to savers. Clearly, this could discourage investment in this direction, but what matters for us is to ensure that a banking system that is being distorted.
Fortunately Italy as other European countries are less exposed to these products to leverage, but sadly against the economies of Europe and Asia are too tied to the U.S., so if the U.S. economy goes down , wheel follows Europe and Asia.
-independent analyst Andrew Tancredi
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