Thursday, June 16, 2011

Fear, everywhere

There's fear in our financial markets. Everywhere.

Although the major indices are only off a fraction of a percent as I type, the VXX, a measure of financial fear, is up almost 8% today. Why? Greece. Uncertainty. An inability to tell who has what exposure to Greek debt. Everyone's blind and in a panic, because no one in our government has done a damn thing to bring clarity to the trading in CDS securities.

Thank you Senator Richard Burr. Thank you for being a fucking jackass in fighting any and all efforts to regulate our banks. Thank you sitting back and doing nothing to regulate bank trading in CDS derivatives - financial instruments of mass destruction. Thank you for sitting on your sorry ass and allowing banks to once again crush our financial markets and kill off our economy.

North Carolina deserves better than our worthless, POS, good for nothing Republican Senator Richard Burr.

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