Financial Singularity

Demolition Man coming right up!! As I have been saying for a while now: soon there will be a financial singularity. One that consist of a few or one mono company/military that tries to rules the world.

Many staple financial institutions are closing: Lehman Brothers, Merrill Lynch, a hundred year old company; closed…are you serious? Once “they” can organize a financial monopoly the rest is history. When we fall into the wake of its event horizon, peril will be a matter of finite time.

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“Bank of America plans to buy Merrill Lynch in an all-stock $50 billion deal, pending approval by federal regulators and shareholders of both companies, the bank said in a statement. The transaction is expected to close in the first three months of 2009.

“By adding Merrill Lynch’s more than 16,000 financial advisers, Bank of America would have the largest brokerage in the world, with more than 20,000 advisers and $2.5 trillion in client assets,” the bank said.”

http://www.cnn.com/2008/US/09/15/banks.bigchanges/index.html
-CNN

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5 thoughts on “Financial Singularity

  1. Of equal interest is the speed at which global institutions can come together and with merely the ding of a keystroke pull together not millions, but billions, of dollars to ‘generously’ contribute to the financial crisis. The US Federal Reserve dipped in to its piggy bank and pulled $85B to calm the AIG woes. The European World Bank and other multinationals are also stepping up with fat cash to toss in to the pot….but you know, we’re not in a recession. So say the economists…because of our global economy we simply can’t feel the benefits of this global buying / selling power, and closer to home, unemployment rates are still reasonable. Blamed on the housing / mortgage debacle, we have a ‘disease’ of sorts and the patient (our financial system) is in intensive care. Unprecendented remedies are being tried, but will it be enough, and in time to save the patient…

  2. Victoria,

    My recent observation of these million/billion dollar moves simply examplifies to me the current lack of humanity. It’s amazing how ALL of this money can be found to save a f*cking bank but not toward medical research, healthcare, cures, homeless woes or education.

    I guess human life isn’t as valuable as I thought…stupid me

  3. I couldn’t agree more, Dimitri. My comments were said facetiously, tongue in cheek. While there is correlation to lives, and loss of investments from the impact of such institutional demise, it simply isn’t in the same league as the impact of investment and potential for sustainable change through developing human capital — educating children, medical advance and human plight.

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous :)

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