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Totally agree with everyone of these points too. Hard to figure out why those in DC are so dumb to them.
No it is easy to figure out why those in DC are so dumb. Dumb like a fox is more like it. The people who gave those in government the money to get elected are also supplying the policy advisers and preparing all the research for them to read.
EWBC up 45% after being given the priviledge of swallowing what was left of the 63- branch United Commercial Bank after the FDIC gutted it on Friday.
That's beautiful! So one bank goes bankrupt but yet somehow it's assets increase the value of another 50%.... I wonder who absorbed that loss.... *Sigh*
10. Shooting the messenger does not change reality = classic.
Let me tell you why those ass clowns in DC aren't doing anything to protect the little-guy.
They don't care. The scope of this catastrophe is off every chart they have been given. Lawmakers have previously and continue to view this crisis cynically, as if all is already lost, let's not look under the rug.
So in other words, the way out is to let someone else deal with it. (Or divert attention to the looting of Jon Taxpayer elsewhere like wars, healthcare, blah blah blah)
THROW THE BUMS OUT!!!
"Capitalism on the Upside and Socialism on the Downside is Bad Policy"
On the profit upswing the refrain is "get the Government off my back"
On the downside " Bail me out, or else"
They stand on the corner of Broad street with tin cups in their hands to catch the taxpayers coins..
Those sound bites make for some catchy campaign slogans... for someone with enough balls to challenge The Establishment.
Like Peter Schiff???
Bottom line is, mkt is up 70% off lows. Buy at your own risk as eventually it will be worth zero, short at even greater risk as market obviously wants to go much higher. Only answer is that is correct is to not play.
And let's make it an even dozen : "When you must turn to the government for a solution, you have already failed".
Government has solutions. Government is us. Government needs to be run by people with integrity who give a damn about other people - and not by people who don't believe in government. Unregulated, lasseiz-faire, predatory capitalism is a disaster. Re-read point #6.
But what do we do when the government is GS ( not Glass-Steagall ) ??
Marty DiBergi: Why don't you just make ten louder and make ten be the top number and make that a little louder?
Nigel Tufnel: [pause] These go to eleven.
ROFLMAO...I can appreciate that...I am a bass player....
I saw this on briefing.com. Glad you took the time to drill down Tyler.
This and the pension issues are gigantic at the local level and mirror the grap at the federal level almost point for point.
But, wait... Dick Cheney famously said: 'President Reagan taught us deficits don't matter.' - but now they do matter? When did that change?
Crazy ole "Uncle Jim", all that money and he still has to pay for Ho's...
Anything too big to fail is a sovereign state.
Why is JC invariably referred to as "famous" or "legendary"? If he's so famous or legendary, then he needs no introduction as such.
He gave this same lecture at Yale recently, which I attended. I didn't think he said anything earth shattering. All his suggestions have been suggested elsewhere. I think he's more interested in making sure academics continue to support short-selling as a fundamental part of efficient markets.
Kaufman needs to give a few Senate floor speeches on this presentation.
jim, if youre reading this you will be right on macquarie...getting more Enronesque by the day
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