__________________
Given the flurry of downgrades by Moody’s today of large American banks, a new era of ethical banking is inevitable. As old, insolvent, and corrupt banks become zombies and die off, new, ethical banks will soon operate close to a 100% reserve ratio. Those bankers convicted of usury will be strapped down to the floor of New York Penn Station, awaiting death via a vicious trampling by the rush hour crowd and resident bums. Pork and alcohol firms will go out of business, since they will no longer be able to access funding from morally sound banks. Finally, Warren Buffett will be retroactively convicted under new Islamic Finance laws for “gross usury.” His sentence will be male-only interviews with financial news networks for the rest of his days.
Oh, and if you think I am joking about Islamic Finance being the wave of the future, like it or not, it’s coming. Check out this and this.
Yes, all interest is unseemly, in God’s sight.
It’s not like it matters; if you have a repurchase agreement for a fixed rate, it’s virtually the same thing as collectible interest, with the exception that the former is a finite time span, whereas the later has to be brought to default or repayment.
RESPECT SHARIA LAW, BROTHER CAIN
lol
What a wonderful world it will be
What a grand thought:
Caliphate run banks regulated by the Vatican..
All overseen by some insouciant demagogues from the US Christian right.
Oh joy
a commie’s paradise? (no virgins)
it’s their own fault… banks should never have been able to become too big to fail. nor should they have repealed glass-steagall. screw ’em.
long rum runners
bootleggers!
iBankDistillery
The Picasso of these here liquor games
“….nor should they have repealed glass-steagall. screw ‘em.”
Bullshit. Which US banks failed because of the fall of glass Steagall and as a result of doing trading operations in securities?
Name one.
Two errors:
1. The test of if repealing glass steagall caused banks to fail is implied to be the only question. The truth is 40 to 1 leverage in unlit dark pools offshore affects PRICES and allows manipulation which affects everyone even if you have zero leverage. Volatility and leverage go together and they were able to move underlying with quadrillion+ in derivatives.
2. We all know banks failed and they were bailed out with trillions plus mark to model accounting changes.
From a banks perspective with a skimming / scalping / front running / place losses in client accounts operation it would look good, but if you have noticed from a cash flow perspective trillions have been placed in the market and the main street wealth was extracted – we are where we started more than ten years ago.
they are also exempt from obamas’ health care bill, when it comes down to having to buy your own health insurance. why you ask? insurance is usury in the “eyes” that religion . was there insurance back in mohameds’ day?
His sentence will be male-only interviews with financial news networks for the rest of his days.
Lol.
I think Fly got into Chess’ account (?).
… before Becky Quick there was Liz Clamon !
Gawd how Liz could fill out a tight sweater !
Those were tha days !!!
.
LoL
lol, I can see the headline now… After Landslide Victory Tea Party Republicans to Introduce Islamic Finance Reform!
Chess,
Not to lose your point, but you’re actually describing Christian banking laws. Just study the history of usury laws (and anti-semitism).
yeah i know, i was being tongue-in-cheek
Wow, I need a brown paper bag.