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View Diary: Ward Churchill is Detestable + Similar to Bill O'Reilly (42 comments)

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  •  You can't possibly be this dumb... (3+ / 0-), bond traders have nothing to do with the developing world being mired in poverty.

    To the extent that anyone at all in the financial service industry have anything to do with it, it is lenders.  Bond traders deal in bonds, which are maturing certificates issued by a variety of entities including nations, with variable rates of return.  They have no capital of their own to lend to companies or individuals, in developing nations or anywhere else.  And to the extent that they trade bonds issued by developing nations, it isn't the bond traders making those high risk, low reward commodities.

    Bonds are a method of capital investment, not capital itself.

    The urge to save humanity is almost always a false face for the urge to rule it. ~ H.L. Mencken

    by Jay Elias on Thu Jul 26, 2007 at 05:21:17 AM PDT

    [ Parent ]

    •  My, you have a smooth touch. (3+ / 0-)
      Recommended by:
      corvo, Jay Elias, Drgrishka1

      No, in fact, I am not that dumb, nor am I dumb enough to post a comment saying that bond traders are cogs in a machine that has kept the developing world mired in poverty, whereas in fact bond traders are in fact cogs in a machine that gives companies and countries around the world access to the capital without which they would, indeed, remain mired in poverty.

      Thus I invite you to reread your initial post and reflect on the fact that what you said was that Churchill's scurrilous comment that these traders were "little Eichmans" was "undeniably true".

      Now that's dumb.

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