The only reason anyone has heard of Elizabeth Warren is because she is installed in the (barely) public eye as a counterbalance. If there were a total absence of sane political or financial discourse taking place publicly, well, then even the masses may eventually catch on to that. Doubtful, but the risk exists, however faint. And we know how Wall Street loves to assess risk.
But rest as ease, oh mighty insurance derivatives trader. Nobody who speaks or knows the real truth will ever be allowed to regulate Wall Street, last of all Warren. She may be allowed a podium now and again, and a fancy job description, but this kind of sanity can not penetrate politics today. It will be relegated to the lecture halls of academia.
Of course her ideas or those of Alan Grayson are used only to maintain some variety on the shelf, since actually employing them would expose the pyramid of transparency for what it really is – nothing. Nothing, that is, that could ever come close to being liquidated. And what would be the point of exposing that, other than to uphold truth and honesty? I suppose we are still teaching our children that truth and honesty are values to uphold, but in reality these are precisely the values which, if upheld, have the ability to dismantle the economy. Quite a conundrum indeed, but as real as the oil in the Gulf.
We know this, but isn’t it still fun to trade anyway? And who wants to trade stuff that they know has no real value? That’s no fun. It’s imperative we keep the fun in the game and pretend there is meaning to it. It’s no different than playing for toys at the carnival. We all want to win the biggest toy, no matter how many sets of balls it takes to get there. What matters is that you eventually win that huge stuffed animal.
If there weren’t any giant stuffed animals hanging behind the games, nobody would play. Whether or not the stuffed animal is worth a shit really is completely irrelevant to the activity, just like all the derivatives of derivatives of a stock which, in its purest undiluted form, may have a bloated and fictitious p/e ratio of 100 to 1, or much worse.
Stocks like these are still obviously super fun to trade. In fact, these are what comprise the entire financial sector.
Wealth on paper, wealth on Wall Street.