Bernie Sanders Demands Action From Obama On Wall Street Oil 'Gambling'

[idb]

Dude.

Maaaaate!

 

[Mr. H.]

Dude.

Maaaaate!

Not tonight, honey. I got a headache.

 

[OohPooPahDoo]

Would there be any oil futures without exploration?

Speculative bubbles in oil price are caused by speculation in oil futures, not oil exploration.

That bread is buttered on the front side.

Futures are the carpet sweepings of the true risk takers.

Dude don't use lame ass analogies, it just indicates you can't describe your thoughts more precisely.

 

[Mr. H.]

Allow me, then, to be precise.

Oil come from ground. Brought up from ground my heap big risk taker.

Skank ass mother traders move in and make wampum.

Dude.

 

[Brutus]

Allow me, then, to be precise.

Oil come from ground. Brought up from ground my heap big risk taker.

Skank ass mother traders move in and make wampum.

Dude.

yes but for every trade there is a buyer and seller. Who makes the wampum, those betting price will go up or those betting it will go down? See where thinking will get you?

 

[Brutus]

You'd think the shit tons of money that investors lost in the 2008 speculative bubble would be enough to keep them from doing it again.

good point!!! of course no one is buying mortgage backed securities anymore, except for the few new ones that are really solid. And, there is no reason to assume more speculators are betting that the price will go up rather than down.

WTF? I was talking about the oil bubble, not the housing bubble.

a bubble is a bubble regardless of the commodity

 

[FA_Q2]

You'd think the shit tons of money that investors lost in the 2008 speculative bubble would be enough to keep them from doing it again.

Why???? We would just bail them out!

 

[editec]

The middle man ALWAYS makes money when speculation happens.

We don't suppose, do we, that that might have something to do with it?

Please note that the bankers didn't make money on the mortgages during the RE bubble, they made money creating them?

Just a thought.

 

[Mr. H.]

Isn't this the same type of "gambling" that pushed crude to $10/barrel in the late '90s?

 

[Brutus]

You'd think the shit tons of money that investors lost in the 2008 speculative bubble would be enough to keep them from doing it again.

Why???? We would just bail them out!

lets recall what really happened. Millions went bankrupt. Merril Lynch stockholders and many many others lost 100% and got no bailout.

 

[FA_Q2]

You'd think the shit tons of money that investors lost in the 2008 speculative bubble would be enough to keep them from doing it again.

Why???? We would just bail them out!

lets recall what really happened. Millions went bankrupt. Merril Lynch stockholders and many many others lost 100% and got no bailout.

Millions went bankrupt but the big betters, the ones that cause the massive swings did not. That was the point.

 

[editec]

You'd think the shit tons of money that investors lost in the 2008 speculative bubble would be enough to keep them from doing it again.

Why???? We would just bail them out!

lets recall what really happened. Millions went bankrupt. Merril Lynch stockholders and many many others lost 100% and got no bailout.

That's about 1% of the story, but it is definitely true.

SOME special too-big-to fail-and-too-connected-to-regulate people got bailed out and some didn't.

Why didn't AIG, for example, go into receivership?

Why didn't the US government get to buy up GM stocks at market value and then use the money they saved to reinvest?

Why has CITIBANK been bailed out three times in my lifetime?

There's too many questions like that, questions about the bail outS (note the plural there, please) and TARP that occured both during Bush II and Obama's watch, that do not have satisfactory answers.

 

[Brutus]

Why???? We would just bail them out!

lets recall what really happened. Millions went bankrupt. Merril Lynch stockholders and many many others lost 100% and got no bailout.

Millions went bankrupt but the big betters, the ones that cause the massive swings did not. That was the point.

As I said the owners of Merryl Lynch, Lehman, Bear Sterns, Wachovia and a slew of others lost 100% or nearly 100%. Only a child would pretend they got bailed out and went on as normal.

 

[JustinSmith]

There's nothing wrong with the increase in price of oil; oil is one of the most inelastic commodities in our society, meaning demand won't change with increase in prices. We need oil regardless of the price, and it is up to us to slow down its consumption to lower demand, and therefore its prices. There is no other way that will work on a world scale.

 

[Brutus]

There's nothing wrong with the increase in price of oil;

actually as the price increases we all get poorer so in that sense it is very very wrong since we all want to get richer, not poorer!

oil is one of the most inelastic commodities in our society, meaning demand won't change with increase in prices.

no idea why you say that? there is only so much money so obviously we must demand less if prices go up.

We need oil regardless of the price,

wrong, if price is too high we could cut car size and power in half and so cut our usage in half tomorrow. We need food more than oil.

and it is up to us to slow down its consumption to lower demand, and therefore its prices. There is no other way that will work on a world scale.

as you said its a world market, and with india and China about to increase demand by 10 times so there is no way to slow consumption. Sorry

 

[FA_Q2]

lets recall what really happened. Millions went bankrupt. Merril Lynch stockholders and many many others lost 100% and got no bailout.

Millions went bankrupt but the big betters, the ones that cause the massive swings did not. That was the point.

As I said the owners of Merryl Lynch, Lehman, Bear Sterns, Wachovia and a slew of others lost 100% or nearly 100%. Only a child would pretend they got bailed out and went on as normal.

Yes, you said that with zero attempt to even understand the post. I guess the CEO of Merryl Lynch went broke huh.

The average Joe stockholder went broke. Mutual funds and the like went broke. The blind that thought they were ‘good’ because they made money but did not understand what was going on went broke. Those that manipulated the market did not. When they went to far the government covered the back end and made sure that the major institutions did not have to pay the price that they should have had to pay for their actions.

 

[FA_Q2]

There's nothing wrong with the increase in price of oil; oil is one of the most inelastic commodities in our society, meaning demand won't change with increase in prices. We need oil regardless of the price, and it is up to us to slow down its consumption to lower demand, and therefore its prices. There is no other way that will work on a world scale.

And just how are you planning on slowing consumption I might ask?

 

[Brutus]

Millions went bankrupt but the big betters, the ones that cause the massive swings did not. That was the point.

As I said the owners of Merryl Lynch, Lehman, Bear Sterns, Wachovia and a slew of others lost 100% or nearly 100%. Only a child would pretend they got bailed out and went on as normal.

Yes, you said that with zero attempt to even understand the post. I guess the CEO of Merryl Lynch went broke huh.

In fact the CEO's of Merryl Lehman Bear etc were huge stockholders who lost almost everything including their jobs

The average Joe stockholder went broke.

and so did the huge fat cats at the top with 1000's of shares!!!

Mutual funds and the like went broke. The blind that thought they were ‘good’ because they made money but did not understand what was going on went broke. Those that manipulated the market did not.

as I said the fat cat share holders and top management were huge huge shareholders

When they went to far the government covered the back end and made sure that the major institutions did not have to pay the price that they should have had to pay for their actions.

what????? half a Wall Street went bankrupt. Many of those left are zombie banks like Citi Bank. A liberal will always be over matched against a conservative. Liberalism is really the absence of education or intelligence. If you disagree please show me a conservative intellectual who has any respect for liberalism.

 

[clanthar]

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[The T]

Obama has already addressed this issue...No drilling. Moratorium that he continues to be defiant on as a court has told him a couple of times he was outta line on...

The facts say otherwise.

Yeah...NOW that he was pressed on it BY the HOUSE TEA Party guys...