Too Big to Bail

Discussion in 'Economy' started by midcan5, Mar 17, 2008.

  1. midcan5
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    midcan5 liberal / progressive

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    The Fed's Wall Street Dilemma

    By Pam Martens

    Americans learned two new truths last week from the Bush Administration's version of Life's Little Instruction Book: if you're a Wall Street miscreant you're thrown a lifeline; if you're a Wall Street crime fighter you're thrown a land mine.

    http://www.counterpunch.org/martens03172008.html
     
  2. rayboyusmc
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    rayboyusmc Senior Member

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    We have truly become a fascist state.

    Screw the thousands who may lose their homes, but help the few billionaire companies who were just as stupid and are now up to our ears in debt.

    Something wicked this way came when Bush and Cheney stuck their oily suckers into the heart of this country.

    They will all retire with their millions, while the average joe/jane may lose their house, their savings and their old age security.
     
  3. rayboyusmc
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    rayboyusmc Senior Member

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    PS.

     
  4. Zoomie1980
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    Zoomie1980 Senior Member

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    Most all of those losing their homes DESERVE to be losing them because they never should have been allowed to buy them in the first place....and on the other end, Bear Stearns got what it had coming to it....
     
  5. Paulie
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    Paulie Platinum Member

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    That bail-out to Bear by the Fed was not only pretty historic for the Fed, but that's also going to be the burden of the taxpayers as we pay for that through inflation.

    We had no say in it, in this Republic of the People, the United States of America. We don't have ANY say anymore.

    The worst is, think about how many people lost their ass in Bear Stearns this past week, while the MSM was telling them "it'll be fine", "don't pull out".

    Bear Stearns survived the Great Depression, the post-WW2 economic problems, but they couldn't survive THIS.

    I'm not saying BSC is the be all end all of the economic problems this country is facing, but it's a glimpse into what's to come.

    Get out of the dollar, people. Buy commodities, but precious metals, trade forex even, but GET OUT OF THE DOLLAR.
     
  6. Paulie
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    Paulie Platinum Member

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    Did all the helpless employees who's entire life was invested in the company deserve what THEY got? Jim Cramer last Tuesday telling people not to pull out of Bear when it was already 50% of what is was worth a year prior, when it was $150. By Friday it's at $30, and by Sunday fucking night, it's being bought out for fucking $2 a share by the god damn FEDERAL RESERVE. You think Jim Cramer didn't know??? Come on. The writing was on the wall.

    The Federal Reserve is now in the landlord business. I'm convinced you don't know jack shit about economics, because the shit you say is fucking priceless.
     
  7. Paulie
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    Paulie Platinum Member

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    <object width="425" height="355"><param name="movie" value="http://www.youtube.com/v/4sZCNlPwG8o&hl=en"></param><param name="wmode" value="transparent"></param><embed src="http://www.youtube.com/v/4sZCNlPwG8o&hl=en" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>
     
  8. Zoomie1980
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    Zoomie1980 Senior Member

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    The people with cash balances in Bear lose nothing. Those owning Bear STOCK, are screwed, as are many of their employees. Bear Stearns got stuck because of their extreme leveraged positions in mortgage backed securities that went south on them. They got out of their core business which was fee-based services and got into very narrowly focused fringe instruments and got caught. They got greedy, took huge risks that for years were paying off huge, then the market changed out from underthem and huge leveraged profits became even larger losses, and as usual with these firm, they have few real hard ASSETS and essentially couldn;t make what amounted to their margin calls.

    Only a complete IDIOT would get of the dollar NOW after it;s lost so much value and likewise only an IDIOT would jump INTO commodities AFTER they have already been bid up by ridiculous speculation about as far as they are going to go. Commidities are doing what houses in California and Phoenix were doing for most of the past 10 years, only about 4X as bad and will suffer and even MORE devastining fate when they crater by the end of the year into 2009, or sooner.

    The SMART investor is already taking profits in their commodity positions and beginning to BUY dollars. And NOW is the time to begin BUYING equities again.
     
  9. Paulie
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    Paulie Platinum Member

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    You're crazy. Do you work for CNBC? The dollar is dropping everyday. Commodities are rising everyday. The dollar can literally go to ZERO, but commodities never will.

    But you go ahead and buy dollars. It's at $.63 right now against the Euro, and that's been an ongoing drop with no signs of slowdown.

    Either you know something that NO ONE else knows, or you're taking your advice from George Bush.
     
  10. Zoomie1980
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    Zoomie1980 Senior Member

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    I know something most insiders know....the current situation will have run it's course inside of six months. Dollar is near it's bottom and gold, oil are near their tops of this run. Gold WILL lose half or more it's current value inside of two years and oil will slide back into the 70's as Americans begin moving en-masse towards hybrids, wind farms and solar energy and bio-fuels led by ethanol all come on line.
     

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