YNET NEWS: OPINION: Just like alchemists, investment banks failed to make gold out of nothing
They left behind their golf clubs, their weekend plans with their families, their gyms, and their jogs in the park. One by one, they arrived at the somewhat dark offices of the New York’s Federal Reserve Bank, one of the 12 government banks that together make up America’s central banking system.
Indeed, they did not arrive at these urgent meetings overjoyed and over-confident, as they did in the past. Those who until yesterday were the masters of big money were seeking indirect access routes, side entrances, and underground parking lots, just so the public won’t see them.
Under the auspices of the New York Police, which sealed off the area, they made their way into the bank’s massive building as if they were thieves at night. They came out of there exhausted, tired, and much poorer. Yet it’s one thing if it was only them; it’s also us.
The heads of America’s leading financial corporations, the leaders of Wall Street, were urgently summoned over the weekend for meetings with senior US officials not in order to celebrate, but rather, in order to bury. They were not attending a festival, but rather, a funeral.
It was the funeral of a system and a method, rather than one investment house. They were called on to defend “Wall Street state,” but failed in their mission. Indeed, Wall Street state fell on the night of September 14-15, 2008. The Fall of Wall Street Stae >>> By Sever Plocker | September 17, 2008
The Dawning of a New Dark Age – Paperback (US) Barnes & Noble >>>
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