Discover and read the best of Twitter Threads about #TooBigToFail

Most recents (24)

Auditors lubricate capitalism, keeping finance's gears smoothly a-whirl, so investors can move money in and out of companies without poring over their books or walking their facilities. Without auditors, capitalism's gears would grind to dust:

pluralistic.net/2021/02/18/ink…

1/ Two business-suited male fi...
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pluralistic.net/2023/05/09/din…

2/
Unfortunately for capitalism, auditing is irredeemably broken. The Big Four auditors (#PWC, #EY, #Deloitte and #KPMG) have merged to monopoly, becoming #TooBigToFail and #TooBigToJail.

3/
Read 34 tweets
Sadly, Joe, that fact should inform YOU of just how messed up it is to NOT accept we are ruled by a #CorruptOnePartySystemOfGovernment.

They lowered the bar so low that decades-old, kitchen table issues have never been addressed.

Anymore, if you point out the corruption of one
party people just assume you must support the other party. It's like saying, do you want your💩🥪 in a paper bag or a plastic bag.

#TooBigToFail: corrupt #CentralizedBanks under W. Bush, Hank Paulson comes out to the Rose Garden and reads a 3-page ransome note - gives us $750B
or else! Less than $1T <<< A historical and astronomical amount, shit not anymore. And this was after HW and his cocaine addicted son W were the cause of the 1986 crash with their corrupt Savings and Loans debacle.

All these crimes while we still have no healthcare. And THEY
Read 24 tweets
Timeout.

They stole $6.2 trillion under Trump, Trillions more under Biden.

The Bush #TooBigToFail bank bailout was $750B and was considered a financial catastrophe and somehow we're supposed to believe they are out of money with 10X that amount? DoD fails 5 audits.
Someone try and explain this away #FFS
So who arrests the entire government when they are corrupt on the wholesale level.

There is no one left that is not a criminal. They are all silent and/or acting as if this is normal.

Apparently they can just dress up any old bag lady and parade her out to the American public and we'll buy whatever line of bullshit they feed us, through her.

SHEESH we're a stupid lot and getting what we deserve obviously. We have zero leadership and @RobertKennedyJr
Read 4 tweets
Amazon is *very* proud of its #flywheel: first, they subsidized customers, luriing in sellers. Then they demanded lower prices, luring more buyers. With more customers, more sellers piled in. Faster the flywheel spins, creating the #EverythingStore:

fourweekmba.com/amazon-flywhee…

1/ Jean-Leon Gerome's painting...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/04/25/gre…

2/
The flywheel is everywhere - they even teach it in business-schools. But Amazon is not a reliable narrator. It doesn't tell the truth about the flywheel. To understand what's really going on with the flywheel, you have apply #enshittification to it.

3/
Read 58 tweets
For apologists, #SVB's #bailout was mere prudence: innocent bystanders stood in harm's way - rank-and-file startup employees, elite private school scholarship kids -so regulators improvised measures to make everyone whole without costing the public a dime. What's not to like?

1/ A glass-and-steel, high-tec...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/04/15/soc…

2/
But that account doesn't hold up to even the most cursory scrutiny. Everything about it is untrue. Take the idea that this wasn't a "bailout" because it was the depositors who got rescued, not the shareholders.

3/
Read 41 tweets
"Gewerbe kritisiert Zins für Covid-Kredite scharf"
srf.ch/news/schweiz/s…

Hallo @SECO_CH, @DefrWbf und @ParmelinG

Die KMU sind natürlich nicht #toobigtofail. Also kann man mit uns machen, was man will.

Wie sollen wir euch noch vertrauen? Mit allem Respekt: Dreckspack.
🧵
"Die Covid-19-Kredite mit Bundesbürgschaft sollen bis 2028 zinslos sein"
archive.ph/HGgEY

Das @ParlCH lässt grüssen.
Read 4 tweets
When students of statistics are introduced to creating and interpreting models, they are introduced to George Box's maxim:

*All models are wrong, some are useful.*

It's a call for humility and perspective, a reminder to superimpose the messy world on your clean lines. 1/ A Tron-like plane of glowing grid-squares. Two spherical cow
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/04/03/all… 2/
Even with this benediction, modeling is forever prone to the cardinal sin of insisting that complex reality can be reduced to "a perfectly spherical cow of uniform density on a frictionless plane." 3/
Read 67 tweets
For many #ConstitutionalLaw scholars, last years' #Dobbs decision on #AbortionRights at the #SupremeCourt came as a dismaying shock, because it showed conclusively that #conlaw wasn't a realm of ideologically consistent intellectual foment, but rather, a matter of *politics*. 1/ A kraken strangling a coin-...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/03/25/con… 2/
Writing for @CreditSlips, the #FinanceLaw scholar #AdamLevitin admits to feeling a bit of schadenfreude in that moment. The "blue collar" law scholars in "grubby" banking and money fields have always treated the conlaw set as "slightly clueless toffs":

creditslips.org/creditslips/20… 3/
Read 53 tweets
DAS NARRATIV DES (#SWISSAIR-groundings) NARRT NARREN (so?)

wer hat es genutzt?

bei @SRF @SRFnews @retolipp @SandroBrotz @BarbaraLuethi schien es ein im #redaktionsstatut festgelegter rhetorischer kniff gewesen zu sein. persoenlich.com/prcorporate-co… @persoenlichcom #Tschanz
auch das #narrativ #grounding narrt die narren.

es wurde mehrfach ausgesprochen:

eine globale #TooBigToFail-bank, wurde einer anderen bank - welche zufällig auch den sitz am gleich #Paradeplatz @InsideParade hatte - zum schnäppchenpreis weitergereicht.

das ist ein deal (so?)
#BestriceTschanz:

"Für das grosse Publikum ist erneut etwas im Eimer."

das narrativ des #publikums
- brot und spiele
- wir machen die show, ihr bezahlt den eintritt
- ...

#tschanz verrechnet sich selbst, selbstverständlich nicht auf der seite #publikum, sondern... ?!?
Read 14 tweets
du @YvesBossart1 würdest du mal mit @ursgredig einen kaffee trinken gehen, um ihm den clou von einem #schmetterlinseffekt zu erklären? #10vor10 #infotainment @srfnews @srfkultur
srf.ch/play/tv/redire…
@YvesBossart1 @ursgredig @srfnews @srfkultur vom schmetterling zum twittscherchen
- so schnell kann #infotainment schwurbeln und verquirrlen...

"professionellen zu unterstellen, sie wüssten nicht, was sie tun, wäre unprofessionell." ImageImage
Read 21 tweets
hallo @retolipp #SRFclub #TooBigToFail

sag mal: WER IST WIR?
du @schlegel_stefan ha!ha!hast du gehört, was gestern nacht #SRFclub versenden liess?

@retolipp nagt an eurer these rum. bloss genau so, dass er legitimieren kann, was längst unhaltbar geworden ist ;-)))
typisch für redaktion #SRFclub - spätestens seit #CoronaVirus - für die kritischste, offenste, freidenkerischte position gibts nur einen einzigen stuhl. (maximal)

#TheNextBrainFuck du @brenntr @BarbaraLuethi kommt ihr damit durch?
dissent.is/NextBrainFuck
Read 4 tweets
Eine Woche, in der sich die #Bankenkrise immer weiter aufgebaut hat und Banken global eine 1/2 Trillion $ an Wert verloren haben, gipfelt im Notkauf der #CreditSuisse durch die UBS. Ermöglicht durch 100 Mrd $ an öffentlichen Geldern. Ein Thread 🧵zur Einordnung.
Der Beginn: Am Freitag vor 1 Woche kollabiert die Silicon Valley Bank - der größte Bank-Kollaps seit der Fnanzkrise 2008. 97% der Kunden sind Unternehmen. Durch ein Abgehen von der Regel werden über die Einlagensicherung hinaus alle Guthaben gesichert. newstatesman.com/quickfire/2023…
Im Gegensatz zur letzten Bankenkrise sind die Ursache nicht Subprime-Kredite, sondern der Umstand, dass die Bank stark auf langfristige Staatsanleihen gesetzt hat. Durch die umfassende Erhöhung des Leitzinses durch die Zentralbanken haben die Anleihen massiv an Wert verloren.
Read 14 tweets
Seven years ago, I called #LeonardCohen's *Everybody Knows* "the perfect anthem for our times."

> Everybody knows the fight was fixed
> The poor stay poor, the rich get rich
> That’s how it goes
> Everybody knows

memex.craphound.com/2016/11/11/leo… 1/ A smoke-filled room lit by ...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/03/16/com… 2/
That was just after Cohen died, and while the world seems to want to settle on *Hallelujah* as his totemic song, *Everybody Knows* keeps inserting itself into the discourse, in the most toxic, hope-draining way possible. 3/
Read 60 tweets
My weird hobby is taking pictures of #signs, especially "vernacular" signs, handwritten and odd. The best kinds of signs tell you what *other* people think *you* are thinking, or what you don't understand. I've nabbed over 4,600 of 'em:

flickr.com/search/?user_i… 1/ A sign reading 'Pull on han...
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2023/03/15/mon… 2/
I think you learn more about the world by delving into others' misconceptions than you learn from their factual understandings. 3/
Read 40 tweets
#FederalReserve is the largest central bank in the world.

Citizen vs. State: If you look at the original founding principle objectives of the federal reserve, you can’t find a single one which benefits the citizen. The fifth objective is clearly a great lie we’ve all been… twitter.com/i/web/status/1…
Just an FYI. I tweet from my readings and curated knowledge of the masses. I’m no banking contagion expert 😂 Image
Read 59 tweets
La #Fed et le gouvernement américain ont décidé une énième fois de changer les règles du jeu en pleine partie : normalement, seuls les dépôts de moins de 270000$ sont garantis.

Mais la Fed a décidé que tous les dépôts devaient être garantis pour éviter la contagion.

#SVB

1/
C'est encore une fois le chantage au #TooBigToFail qui a fonctionné en faveur des riches dépositaires, des Venture Capital.

Mais dans le même temps les salariés des startups concernés vont pouvoir continuer leur activité.
C'est tout le paradoxe d'une économie prise en otage par les griffes de la finance.
blogs.mediapart.fr/anice-lajnef/b…
Read 12 tweets
Yesterday, Congress finally passed the must-pass, end-of-year budget bill. As usual, the bill was stalled to the last moment, so Congressjerks could cram the 4,000-page, $1.7 trillion package with special favors for their donors, at the expense of the rest of the country. 1/ A living room scene, featuring a sofa in the background and
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

pluralistic.net/2022/12/22/mus… 2/
This year's package included a pair of especially egregious doozies, which were reported out for @TheProspect by @leee_harris ( a grotesque retirement giveaway for the ultra-rich) and @dorajfacundo ( a safety giveaway to @Boeing and its lethal fleet of #737Max aircraft). 3/
Read 37 tweets
Why do tax cuts have to be "funded"? Why not just cut government? 🤷 #Truss
All Liz Truss & Kwasi Kwarteng did was try to reduce the tax burden on their citizenry & let people keep more of what they earn.

The "problem" is this would've created economic growth, and the central banks and pension funds have already placed their bets in the other direction.
Our governments have created such a monetary problem over the last few decades, with endless QE and the recent trillions & trillions, that the think the only way out of this is… tanking the economy.

Think about it: what an absolutely insane predicament these fools have created.
Read 6 tweets
Dernier épisode de la chaîne YouTube avant les vacances d'été : "TOO BIG TO FAIL"

Vous pouvez aussi cliquer sur ce lien YouTube pour voir la vidéo et la partager avec votre entourage :
Dans cette épisode, nous expliquons la notion de "TOO BIG TO FAIL" (trop gros pour faire faillite).
Les banques, même si elles font des erreurs par avidité, savent que les États et les banques centrales ne les laisseront jamais tomber.

Elles savent que leur poids dans la société est trop important, et que si elles font faillites, c'est la crise économique et sociale assurée.
Read 7 tweets
Les particuliers qui ont été ruinés sur les cryptos n'ont que leurs yeux pour pleurer.

Même s'ils ont pendant longtemps été virtuellement riches.

Mais tant qu'ils n'ont pas matérialisé leurs gains en vendant leurs actifs, ils n'ont nullement profité de leur gains comptables.
⤵️
C'est différent dans le monde bancaire.

Les banquiers touchent des rémunérations sur une valorisation comptable de leurs portefeuilles.

Même si les gains ne sont pas réalisés, et que les plus values sont comptables, les banquiers se partagent des bonus les bonnes années !
Et quand les choses se compliquent et que les pertes deviennent colossales, ce sont les États et les banques centrales qui viennent à la rescousse, et ce sont les citoyens qui paient les pots cassés.

Les profits sont privatisés et les pertes socialisées !
Read 8 tweets
RDV à ne pas manquer chaque dimanche le stream de @sam_jdc dans la dernière édition j'ai constaté l'intérêt mais aussi l'inquiétude autour de l'écosystème @terra_money de la parts de personnes qui ne voient #TERRA que par le prisme @anchor_protocol
🧵
Pour répondre à la question posé pendant l'émission : à quoi sert $UST à part faire du #yield sur @anchor_protocol ? Ne vous arrêtez pas à la devanture de la boutique avec ce joli néon bleu affichant cet énorme et trop beau pour être vrai 20%
anchorprotocol.com
Pour répondre à la question voici une liste non exhaustive des usages de $UST car concrètement UST sert à tous dans l'écosystème et s'étends à tous les autres
Read 31 tweets
Creatives of the world. It's time. Let us all remove our masks. There is strength in numbers.
I know you are afraid. But where there's people, there's power. @taylorswift13 @kanyewest @hopsin have found the path. Now we must follow.
Read 6 tweets
Thursday, January 20, 2022
News you can use.

Try not to laugh... ☕ Image
Casinos are inherently fraudulent criminal enterprises that prey on weakness and offer unaffordable vice as an enticement. Between losing $100 to a slot machine or setting 100 $1 bills on fire, I have found more enjoyment in the latter.

Read 22 tweets
Quand tu empruntes 100 000€, c'est toi et ta famille que tu mets en danger au cas où tu ne rembourse pas.

Quand tu empruntes 50 milliards comme #Drahi, c'est la banque et tes salariés que tu mets en danger au cas où tu ne rembourses pas.

1/4
Mais si la banque fait faillite, c'est tout le système qui s'écroule : l'État est obligé d'agir.

Quand tu empruntes 100 000€ t'es seul face à tes devoirs, donc tu peux mal dormir.

Quand tu empruntes 50 milliards, tu as la banque et l'État dans ton camp, donc tu dors bien.

2/4
Au fond du fond, toute cette histoire de dette colossale de Patrick #Drahi n'est qu'un transfert de risque : de lui, vers les banques d'abord, puis vers l'État, et enfin vers nous tous.
Le risque est socialisé !
3/4
Read 5 tweets

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