Sunday, December 12, 2010

If it had "Run by the Jews" in it then they'd have perfect NY Times headline

The perfect NY Post headline, the best one of all time was "Headless Body Found in Topless Bar."   It is perfect in the sense that you have to find out why anyone would write something so lurid.

And such is almost the case for today's NY Times headline, "A Secretive Banking Elite Rules Trading in Derivatives."  Almost, that is, except for the bit in the title of this blog post.

And of course, you can be sure that some folks are trying to piece that together in their warped anti-Semitic minds.

I'm sure they've got the mindshare of all the anti-Semites today.

The article in question is fascinating - and will fuel racist crazies, unfortunately, because names aren't named.   I have had to explain to quite a few people  - people with otherwise very progressive views, believe it or not - that the idea that Jewish people control the world's banking system is sick and twisted; a small minority of people do hold most of the wealth,  but in that group, the number of Jewish people is very small. 

The gist of the article is that the major banks and investment houses are repeating with derivatives what they did in the last century with just regular ol' investment banking.  And those people, like JP Morgan, were hardly Jewish.  However, Goldman Sachs was founded as a "Jewish" investment banking firm, because they couldn't get employed elsewhere on Wall Street.  Mutatis mutandis for Merrill Lynch and the Irish, btw. 

If you haven't read the book at the left, it's a great read, even though it's now dated.  But you'll get a much better understanding of these things.

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