Published on Zero Hedge (http://www.zerohedge.com)
Wall Street Isn't Fixed: TBTF Is Alive And More Dangerous Than Ever
By Tyler Durden
Created 08/06/2014 - 18:33
Practically since the day Lehman went down in September 2008 Washington has been conducting a monumental farce. It has been pretending to up-root the causes of the thundering financial crisis which struck that month and to enact measures insuring that it would never happen again. In fact, however, official policy has done just the opposite. The Fed's massive money printing campaign has perpetuated and drastically enlarged the Wall Street casino, making the pre-crisis gamblers in CDOs, CDS and other derivatives appear like pikers compared to the present momentum chasing madness. In a nutshell, the Fed's prolonged regime of ZIRP and wealth effects based "puts" under risk assets has destroyed two-way markets.
Source URL: http://www.zerohedge.com/news/2014-08-06/wall-street-isnt-fixed-tbtf-alive-and-more-dangerous-ever
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