The Money Tower of Babel in Wall Street
When Lehman Brothers was hit by the Angel of Economic Armageddon, a notable global economic forum was being held in Tianjin, China.
Now, folks, G7 meeting is being held in Washington D.C. with the Japan’s Financial Minister and the Governor of Bank of Japan attending.
Yet, this is the smash delivered by the Angel onto the Money Tower of Babel in Wall Street.
The cause is simple: the anger of the God.
So, the solution is simple: the total piety for God.
The U.S. President and his Treasury Secretary must pray to the God so that the God will ease His anger.
Jesus Christ said that no single stone would be left of the Money Tower in Wall Street.
This is the beginning for the complete cleanout of the Money Tower in Wall Street.
It might still take decades, but I believe that the word of the God will come true.
However, let’s check some non-nonsense opinion:
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Wall Street's Coming Reforms
September 17, 2008
Author Lee Hudson Teslik
The turmoil that rocked the global financial sector this week, bringing storied institutions to their knees and prompting harrowing declines for major stock indices, left more than a measure of uncertainty in its wake. Analysts generally declined to hazard near-term economic predictions, focusing instead on what might halt the contagion. Just when the government appeared to have said "enough," refusing to save the investment bank Lehman Brothers, the potential collapse of America's largest insurer, AIG, forced Washington back into the bailout pool (WSJ). One of the few consistent refrains was that reform of the financial system—on a much larger scale than many had previously considered—now seems increasingly likely (WSJ). Yet with a new U.S. president and Congress set to assume power, analysts say 2009 could bring dramatic regulatory changes for U.S. banks, potentially spelling major changes for the future structure of the global financial network.
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Beyond technical market governance, some analysts say markets face a bigger problem. "The Street's fundamental problem isn't lack of capital," writes Robert Reich, the former U.S. Labor Secretary. "It's lack of trust. And without trust, Wall Street might as well fold up its fancy tents." Reich says the trust problem goes even deeper than the subprime mortgage mess. The recent market blowups, he says, have exposed a complicated game involving subjective ratings agencies, off-balance sheet liabilities, complex derivatives, and seemingly endless leverage. Here, however, the regulatory picture gets more murky—particularly given the global nature of financial markets. Once a new president takes office, Washington may well act to limit how much risk U.S. investment banks can assume. But analysts say that won't necessarily solve the problem. If Washington imposes very strict regulations on investment banks, Plender says, "a lot of those very clever, ambitious people, the investment bankers, will jump ship." The effort to regulate could thus backfire, he says, prompting an expansion of the "shadow banking system" of hedge funds and financial institutions in countries with looser laws, and leaving Washington's regulators with even less power than they have now.
Weigh in on this issue by emailing CFR.org.
http://www.cfr.org/publication/17257/wall_streets_coming_reforms.html?breadcrumb=%2Fissue%2F2%2Feconomics
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The War on Wall Street and the global like must be given the highest priority in the U.S. Government.
Anyway, the following are the minimum measures to be taken to avoid the possible Great Depression:
1) U.S. elite should fear the anger of the God.
2) U.S. elite should respect Japan.
3) The U.S. Government should declare that it would disable occurrence of the possible Great Depression by applying any tough measures to the super-rich and the rich so that they will offer at least a half of their assets to the possible solution planned and promoted by the U.S. Government, if so needed.
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That is all for today.
(Tomorrow I may further check the security around the Diet before the noon, since it is Sunday tomorrow and the Monday is a national holiday of Japan.)
"Salvation Comes from Zion as All want Salvation and Bailouts"