The irony, it burns us, it burns us.
Jun. 2nd, 2012 11:12 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
ocschwarJust over 2 years ago, Rick Santelli gave an angry rant on TV from the floor of the Chicago Mercantile Exchange, denouncing the mortgage bailouts as a socialist sop to idiots who bought more house than they should have. And thus began the Tea Party Movement.
This month, our government has designated the Chicago Mercantile Exchange's derivatives clearinghouse as "systemically important," meaning that in the event that the options traders of the CME go bust, they will be bailed out by the US taxpayer.
Be aware that if Santelli's workplace is bailed out, there will be no austerity for him. While the rest of us eat red beans out of a can, he will not be cutting back on his single malt scotch of choice.
http://www.zerohedge.com/contributed/2012-05-26/encore-bailing-out-big-banks-government-backstop-derivativees-clearinghouses-
This month, our government has designated the Chicago Mercantile Exchange's derivatives clearinghouse as "systemically important," meaning that in the event that the options traders of the CME go bust, they will be bailed out by the US taxpayer.
Be aware that if Santelli's workplace is bailed out, there will be no austerity for him. While the rest of us eat red beans out of a can, he will not be cutting back on his single malt scotch of choice.
http://www.zerohedge.com/contributed/2012-05-26/encore-bailing-out-big-banks-government-backstop-derivativees-clearinghouses-
