Michael Levy

   "Oh, how the mighty have fallen", is a quote from the Old Testament that pertains to the collapse of past dynasties. In today's world, it deals with the downfall of the major infrastructure of capital markets in the USA and the systemic fallout all around the world.

The demise of Bear Sterns, Freddie Mac (FRE), Fannie Mae (FNM), and IndyMac are a few events that have already caused disruption, costing billions of tax payers money. Waiting in the wings of fiscal devastation are firms such as Lehman (LEH), Washington Mutual (WM), and Merrill Lynch (MER), whose shares have been devastated by speculative short sellers.

The question is, have the media unjustly helped the billionaire short sellers achieve massive profits from the demise of major investment, brokerage and banking institutions? Also, have the financial institutions, in part, been hoisted by their own petard of greed?

Last month, one of the main financial TV channels had a billionaire short seller on their morning show for one hour, explaining a very cleverly thought out plan why the shares of Freddie Mac and Fannie May should go to zero. Perhaps if a professor of economics that is not affiliated with any speculators spoke about institutions that are in dire straits, it is acceptable. However, when a billionaire speculator is given an hour to deliver his schemes, with a self declared, vested interest in his short positions, it is totally immoral if not illegal.



This practice continues unabated. On Wednesday, September 9, 2008, on a popular TV financial channel, almost every segment throughout the day had guests who were short selling speculators, talking about the demise of Lehman. The next day, the stock was cut in half from already greatly depressed levels.


The same style of erroneous intellectual propaganda that drove house prices to unsustainable levels, that thrust oil up to $147 a barrel and other commodities to unrealistic altitudes, is now being spread, bringing about the premature collapse of financial houses, whose stock book values are worth far more than the current traded price.

Top analysts have stated the prices have detached from fundamentals. It seems that the themes played out on fear-based emotions, all brought about by past greed, are driving down prices far faster than normal trading in past years, which did not have such powerful leveraged derivatives.



The medicine being doled out seems to be more of the same that ails you. The cure may work in holistic circles, but in finance, real change is required. There is no doubt that many companies in the financial arena have brought about their own destruction by their own avarice and greed. They dreamt up many derivatives and collateralized notes that were backed up with valueless assets. Many bosses who should be accountable for the collapse of their companies were paid millions of dollars when they were kicked out; yet, the common shareholders are left with zero. In one instance recently, the head of one of the government backed agencies is reported to have received $20,000,000 in severance pay. Many financial institutions are now been taken to the cleaners by the same type of derivatives they devised and traded ... Karma, maybe?


Well, maybe, however it still has not stopped the onslaught of new derivatives that arrive on the world scene on a daily basis, for more speculators to trade away corporate enterprises and commodities, with highly sophisticated leveraged financial instruments.



The government declares they are in favor of free markets and do not want to bring in the up-tick rule that would limit short sellers. It limits the short trade as the speculator can only short a stock when it has traded up. This levels the playing field, somewhat. They also do not want to stop naked short selling, although some say it is already illegal. This means that, without new regulations, the short sellers can take advantage of a bad situation and fast-track its demise with the help of the media who assigns them lots of free air space.



The founding fathers of America, built up ideas and blueprints to make it the greatest country in the world. In the past few years, sharp-witted, educated wizards have devised schemes that, first of all, over-leveraged complicated financial instruments. This in turn has fed the short selling vultures to sell America short and to hell with all who stand in their way. The greedy few get richer in money but poorer in spirit, while everyone else just becomes impoverished.

Who is to blame for the farces in a USA comedy of financial errors?

  • Is it the bosses who allowed the greed to rampantly spread?
  • Is it the short sellers who feed from avarice? 
  • Is it the media who will go to any lengths to sensationalize a story?
  • Is it the government who allows it all to happen?


 

Perhaps all are all equally guilty and are doing more damage than any terrorist organization can do. However, they all have one thing in common... They are all extremely well educated with financial and business accruement.

Lamentably, the education lacks wisdom or self respect that contains the real values and morals of humanity. If you want more proof of how obnoxious humans can sink to feather their nest, just follow the political campaign for president and observe how they degrade their fellow Americans from the opposite party.



The mighty have indeed fallen short of grace, compassion, kindness and generosity. Negative slants have been programmed in the brains of media reporters and programmers, and even the weather has become a vehicle for fear laden reporting. The quest for mastery by intellectual, sophisticated, power crazed people knows no decent or wholesome boundaries.



There is no admissible truth, or acceptable wisdom, that power seeking people will correctly invest their time in, that can halt further decline into ... the slings and arrows of outrage misfortune ...

Now where have I heard that before?

  1. Today's Best
  2. Top Shows
  3. Best of BTR
    1. Loading

      Justin Simien: Mighty Afro-dite?

      Director Justin Simien doesn’t care much for the epic “black experience,” if such a thing even exists.

    2. Business Credit Radio

      Business Credit Radio is honored to welcome Mr. Sean Roberts of StandingStonez to discuss the upcoming Global B2B Finance/Credit Conference and Expo and the impact sponsors will have on the event.

    3. The Ironman World Championship

      The Ironman World Championship in Kona is brutal, imagine how difficult it would be if you were blind. Tina Ament, Competitor, blind since birth, just struck this event from her bucket list along with 3 Ironman and 5 Boston Marathon finishes.

    4. Leonardo Bustos

      Leonardo Bustos has just finished creating a unique and revolutionary plan that is destined to become the way most couples will meet in the future. In 1981, when he wrote and published his first book, "How To Attract Men and Keep Them Interested."

    5. Baptist de Pape

      Just released from the director of “The Secret”, “The Power of the Heart” film sensation is changing hearts worldwide! Filmmaker and author Baptist de Pape.

    6. Fury

      Marc Eastman, and co-host extraordinaire, Shane Leonard, review Fury. The Brad Pitt and Shia LaBeouf war film hit this weekend, and we'll let you know if it's worth your time.

    7. HLN Host Jane Velez-Mitchell

      Journalist and HLN Host Jane Velez-Mitchell talks with her long-time friend and colleague, Rolonda Watts, about Jane's drastic decision to go Vegan and how her tremendous love for animals led her to it. Veganism - for health and heart -- with Jane!

    8. Mr Ivan

      The baddest, creative horror and adult film director Ivan. Heshas been making films since 1994 and owns his own studio called the Puma Network.

    9. NBC Sports Anita Marks

      Anita Marks joined NBC Sports Radio in 2012 and serves as the host of The Anita Marks Show, weekends from Noon – 3 p.m. ET on NBC Sports Radio.

    10. Global Business

      A powerful and new kind of competitive advantage is now possible thanks to technological and social disruptions that are already occurring. Tune in and revolutionize your growth.

    11. Anne Rice and Christopher Rice

      Empowered Living Radio host Tori Eldridge chats with celebrity authors Anne and Christopher Rice about parenting, identity, sexual orientation, and the powerful love between Mothers & Sons.

    12. America's Haunted Universities!

      The Halloween Season continues at Smartasses Radio, when we are joined by author Matthew Swayne, to discuss haunted Athens Ohio and his book, America's Haunted Universities!

    13. Spencer Garrett

      Christopher Walken, leather and an alligator. Plus weapons juggling, lottery winning, watermelon slashing,dramatic pausing, and guest veteran Hollywood character actor Spencer Garrett.

    14. OCD- Nuts and Bolts

      Dr. Anthony Puliafico and Dr. Michael Wheaton will discuss frontline therapy interventions for OCD in both adults and children.

    15. Brian D. McLaren

      This week on the Cosmic Citizen author, speaker, pastor, and networker among innovative Christian leaders, thinkers, and activists, Brian D. McLaren.

    16. Author Dr. Mark Waldman

      Join us of an exclusive 30 minute interview with Mark Waldman, author, lecturer and one of the world’s leading experts on communication, spirituality and the brain, as we discuss relationship between mindfulness, cancer and the brain.

    1. Loading

      Small Business Unstuck

      Host Barry Moltz gets small businesses unstuck. He has founded and run small businesses with a great deal of success and failure for more than 15 years. This is a business radio show where he shares all the craziness of small business. It’s that craziness that actually makes it exciting, interesting and totally unpredictable.

    2. Hits Radio

      Hits Radio covers basketball, sports culture and entertainment with past guests including Jason Kidd, Robin Lundberg and Chris Herren.

    3. The Halli Casser-Jayne Show

      Listeners get an earful on The Halli Casser-Jayne Show, Talk Radio for Fine Minds. Whether it’s the current political cocktail or the latest must-read award-winning book, Halli tackles all topics and likes to stir — and sometimes shakes — things up.

    4. America's Most Haunted

      Official Internet radio show of forthcoming epic paranormal investigation book by Eric Olsen and "Haunted Housewife" Theresa Argie.