"We risk becoming the best informed society that has ever died of ignorance"
- Rubén Blades

"You can't make up anything anymore. The world itself is a satire. All you're doing is recording it"
- Art Buchwald

"It's getting exciting now, two and one-half. Think of everything we've accomplished, man. Out these windows, we will view the collapse of financial history. One step closer to economic equilibrium"
- Tyler Durden

"It is your corrupt we claim. It is your evil that will be sought by us. With every breath, we shall hunt them down."
- Boondock Saints

Thursday, January 5, 2012

Hildebrand Transcript From January 5th, 2011

What the "bankers" are failing to understand is that we don't care if their crony buddies who make the laws agree whether or not their actions are legal and justifiable.  Even in the US the people are fully aware of governmental insider trading.  The guys who make the laws are bought and paid for as a part of daily business operations and willingly vote down laws to prevent it, even though the people called for it.  Hildebrand starts off saying that he feels he broke no legal limits but that he realizes "the general public is also expressing a moral concern".  The moral here is that even though he committed what may be viewed as unethical, his treatment is far different then we might experience if it were a hedge fund manager.  The word bubble ought to lend a visual aid.

Hildebrand Conference January 5 2012 SNB