Tuesday, December 30, 2008

Israel vs. Wall Street Leverage

From the IHT website: "UN Secretary General Ban Ki-moon has called for an immediate ceasefire. Mr Ban said he was "deeply alarmed" by the escalation of violence in Gaza. While recognising Israel's right to defend itself from militant rocket attacks, he condemned its "excessive use of force"

Lets replace Mr. Ban with the SEC and Treasury Secretary and Israel with financial institutions and escalation, with leverage. "The Treasury Secretary has called for an immediate cessation of new derivative products. Mr Cox, of the SEC, said he was "deeply alarmed" by the escalation of debt on Wall Street. While recognising financial institutions right to defend itself from competition, he condemned its "excessive use of leverage"

The above paragraph was never said nor mentioned until after the fact. Not in Israel's case.

So being a contrarian, I would assume that when comments like this are made, one should believe the opposite and when they are not said, run for the hills. Ultimately, it is up to the individual to make up his/her mind. I don't know Mr. Ban nor his politics, so how can I base a rational opinion from a highly political organization such as the UN, with a relatively unknown figure.

The same goes with the uncharted territory we are heading for in the US. But it doesn't make it bad, just brave...new...



No comments: