Warren Interview: Wall Street’s “system has collapsed”April 12, 2009 – 2:06 pm

http://blogs.moneyandmarkets.com/martin-weiss/treasury-bills-vs-treasury-notes-or-bonds/

"... I see this as an insiders/outsiders problem.

The insiders, the investment bankers and other financial services specialists, have a system that works very well for them. The problem is they’re now using the outsiders’ money to fund that system. Their system has collapsed. AIG is not functional without substantial taxpayer dollars. And the insiders don’t seem to have appreciated the seismic shift in their world when they need money, gifts, subsidies from outsiders.

Anyone who thinks that they can take tens of billions of dollars of taxpayer money and continue to operate business as usual lives in a fantasy world that I don’t understand. Culture clash? No! This is not a culture clash. This is not about taxpayers who don’t get it. This is about people who think [in a] fantasy, that their world is prosperous and continues to create value that can be parsed out privately, when they are relying on huge subsidies from the taxpayer. It’s just wrong!..."