What the fuck is wrong with our ‘fearless leaders’? Don’t they know 75% of this country is littered with illiterate rubes who don’t know the difference between a bank and a banana? To the average main street, blue collar, idiot, it makes zero sense to give ‘their money’ to a banana. Hell, they would much rather prefer a nice big fucking stimulus check, so that they can go buy a new plasma.
So, on top of all the bullshit congress has put us through, over the last 10 years, now they feel it’s imperative to play a losers game of financial chicken with Wall Street, because the fucking factory workers in Pennsylvania think “those fat cats” from Wall Street “outta go to jail.”
Okay, how about this, Mr. Joey Bag o’ Donuts:
Your credit lines have been canceled. Your daughters student loan has been canceled. Your filthy factory, due to their lines of credit being turned off, has to fire you, in order to stay afloat. Now that you are unemployed, you need to tap your 401k plan to live, while you are in between jobs. Oh, sorry, the value of your retirement account is down 60%, because that “fucking bailout for those Wall Street honchos” failed. And, finally, your local grocery store just got shut down, due to lack of liquidity.
Become a farmer you stupid bastard. To hell with those Wall Street ‘fat cats.’
The only reason why we are not down 2,000 points is because investors cannot fathom the idea that Congress would actually allow the market to crash. Believe me, without a bailout, I am 100% certain we will crash.
Here’s the rub:
If you try to get in front of congressional idiocy and sell short here, there is a distinct possibility that a deal may be agreed upon over the weekend, effectively burying you alive in shorts. In other words, my position is to remain long and pray to the Gods that no one pays attention to low IQ’ers on main street.
It’s riddled with morons.
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you are right, socialism is the answer.
Thank you.
$0.00?
Socialism is always the answer, unless of course you are into big cool capitalism.
Oh, wait, that didn’t work out too well for us, did it?
We have no bananas today.
Hey Joe, if that’s even your real name, we’re fucked either way. One way lets us play another day. The other way is game over. Which would you choose? Clean out the dirt from your ears and listen to what the Fly is saying.
stop crying and figure out a way to make money and then give me those tips.
yogi, I could use a farm hand if you don’t make it out of this deal.
Relax
I honestly can’t believe they are trying this shit on. One part of me thinks it would be a good thing. These fucking arse holes were the ones asleep at the back of class, didn’t learn anything at school and didn’t want to. However the morons are allowed to vote.
Here’s my proposition from now on. A voter needs and IQ of at least 98 to vote: which is the average. It’s not high and you certainly aren’t that bright with a score of 98. Even Jake and Anton could sneak in if they cheated on a couple of answers.
Fuck Main Street’s opinion. Fucking losers.
we’ve always been socialist
Excellent post my friend.
Welcome to my world…
I’ve got room for one more.
Wouldn’t be the prudent thing to go neutral or straight up not hold anything until things materialize?
If the market finishes in the green today, I could see them postpone this thing further. “hey, wheres the Armageddon?”
Put it this way, I am not holding my breath this deal gets done.
TOP PICK: Whenever in doubt, short airlines…
Fly, you nailed it.
Joe Dirt, you can eat it. You’re probably a closet “free market Kudlow fan”. Just to be straight, your establishment one-liner bullshit has no practical application and the facade your right wing nut job leaders hide behind is crumbling like the global empire they tried to create.
Funny how some guy in a cave with a towel on his head is smarter than the combined power of all these genius’ on wall street and neocons in DC.
2002….Osama bin Laden Announces Plan to. “Bleed America into Bankruptcy”
Excellent post my friend.
Bullshit, gear. It’s one of his average posts. His done better.
I’ll do much better, AFTER the market craters 2,000.
Oh, that will be great. I can’t wait.
slave trader, I can give you the script I used to call all of my representatives. I finally have a voice.
Screw it…let it crash and burn.
After all, we can always fall back on another global war to get things moving again.
Don’t laugh….it’s not that far fetched of an idea….
Joe, I was going to offer you the same deal. If you don’t mind clearing land and hauling rocks. Plenty of deer, wild turkeys and a few bears.
It will be better at 11:30AM. That’s when Leave It To Beaver is on. Take youself back to Middle America USA 1958 for thirty minutes. It’s better than therapy.
Great post, fly. Agree 100%.
Crash and burn sounds nice, if you are mentally ill and live in a fucking cave, just west of Pakistan.
From the guys who brought you victory in Iraq, you want to stay long and “hope” the bailout is a success?
How does a bailout of shitty banks even help. It will
– destroy the dollar, killing consumer spending
– cause long term rates to rise — killing people with ARMs and new buyers
– keep home prices artificially high, killing the housing market from clearing
Apparently nobody has considered that a bailout might be worse than the alternative.
Now why would the markets crash without a bailout. Do you even know?
Bush and Paulson are criminals. They should be treated like criminals.
Smaller banks seem to be thriving on Main Street.
the fly’s post resemble the dying wimpers of good ol’ uncle joe stalin.
Watch the CBOE Short-Term Interest Rate Index (IRX).
It’s up so far today…this means the market is still looking to buy.
I’m treating my trading software like it’s a stupid Discovery Channel special about blinking lights and flashing numbers. Sit and watch, don’t fuck with the remote.
fly..
i agree they will get the deal done.. but im not sure how much it will help the market on monday at this point.
Off topic, I love that picture of Woodshedder (as long as I don’t look at his hair) verrry cute.
OK, back to talking about idiots in Congress and market gyrations.
Fly, why can’t you undertsnd that propping up a 3 headed monster of a ponzi scheme is not the solution? Pass this fucking bill and watch what happens.. you and your buddies on wallstreet may kill it in the next 3 years, but in the end America will end as we know it. Grow some fucking balls and stand up for what this country was founded on. The mess was created not by capitalism, but by the Fed, Congress, Wall Street(mfg of OTC derivatives and the 54 trillion now in CDS). Without the Fed artificially manipulating the flow of money, wallstreet and congress would have never had the chance to fuck it up as they now have. American capitalism in its pure form is a healthy and vibrant long term economic platform for this country.
Jefferson Krull needs a bailout.
Fly hit it right between the eyes with a baseball bat.
These ideological fucks crying about socialism today will be fucking BEGGING for socialism in a few years if this thing fails.
Give me details of how and why the market will crash if a bailout does not happen? DETAILS!
Seriously though is there a deal coming this weekend. And if so is it the $700 billion one. Does anyone know what these fuckers are now looking at?
Fuck wall street. Asshole bankers better keep their hands out of my pockets. They fucked up, they should deal with it.
You see that look in McCain’s eyes?
It’s me he’s seeing.
Leroy, you fucking idiot, what details do you want? have you seen where o/n cash has been trading at? In some centers it’s been as high as 11% and hasn’t been below 7% for the entire week you dope. The TED spread is 300 points.
Stocks are holding in because they think a deal gets done. If it doesn’t get done they’re down 20%. you idiot. What a stupid question.
“Losin’ His Ass Fly” wrote:
“Your credit lines have been canceled. Your daughters student loan has been canceled. Your filthy factory, due to their lines of credit being turned off, has to fire you, in order to stay afloat. Now that you are unemployed, you need to tap your 401k plan to live, while you are in between jobs. Oh, sorry, the value of your retirement account is down 60%, because that “fucking bailout for those Wall Street honchos” failed. And, finally, your local grocery store just got shut down, due to lack of liquidity. ”
NONE of those fuckin’ things will happen if we don’t pass a bailout bill (which will only HAND $700 bill of TAXPAYERS MONEY to the criminal banks and brokers and fix NOTHING)
Let the cocksuckers go fuckin’ BROKE, and spend $200 billion on infrastructure projects.
A “WPA of 2008-9” not a WSB of $700 billion.
(WSB = Wall Strreet Bailout)
Fly is puping for a bailout because he has guessed WRONG on the market 4 times in a ROW.
Wall Street isn’t the only guilty player in this game. Dumb motherfuckers on Main Street that lived beyond their means buying cars they couldn’t afford and houses they knew they couldn’t pay the monthly mortgage on are just as guilty. This Wall Street vs. Main Street argument is ridiculous.
Socialism is always the answer, unless of course you are into big cool capitalism.
Oh, wait, that didn’t work out too well for us, did it?
When did we try it?
___
Yogi, I could use a farm hand if you don’t make it out of this deal.
ROFL.
__
Maybe the rubes are really saying, “Hey, can’t we get a preferred equity position when we recapitalize your shitty bank that gave all of my white trash neighbors loans”
In the 30’s, jake, you numb nut. You were a teenager then still in your diapers so you would recall. unemployment was 25% at times.
Let’s face it. There is no good choice in this matter. Either way there are negative consequences. Trade today, not tomorrow next week or even next month. Be flexible.
j, got any Tim Tams?
rbm411:
The shitty banks didn’t do their homework.
The white trash neighbors DID, and they get to drive new wheels and run up credit card debt for FREE. The white trash are smart. Their cost basis is ZERO. MORE POWER TO THEM!
And FUCK the banks!
While The Fly may be God, even The Deity makes a mistake every so often (i.e. “All-I-know-is-John-McCain-is-a-Maverick” Sarah).
I want to see the 100-200 banks predicted to go under fail. Let JPM and GS and MS get all of their assets. So what? The world will not end for the 99.9% of us not in the business. Money always finds a buyer. The price just may go up from these levels.
long 1000 AAPL at 125.06 for a trade
You guys are arguing over a mute point. Either way we are fucked. Bend over and take it.
We are on a big cruise ship. Some fuckers are up in first class sipping martinis. The rest of the lowlifes and asshats are waiting tables and cleaning the bathrooms. When the ship goes down, ALL OF THEM ARE FUCKED.
If our market gets smoked Monday, where does Gold go? Gold going up is tied to the weak dollar/inflation play (which I think is BS – as this $700B is not going into the public sector, and is going to be used to replace evaporated cash flows).
If the deal falls through and we’re on our way to Dow 8K or whatever – rapidly – what does Gold do? My gut tells me it shoots up, but my gut also produces poo.
Here’s my proposition from now on. A voter needs and IQ of at least 98 to vote: which is the average. It’s not high and you certainly aren’t that bright with a score of 98. Even Jake and Anton could sneak in if they cheated on a couple of answers.
98?
The only thing I can infer from this odd target is that you’re having trouble breaking par, Dim-sum.
No worries, “mate,” the world needs ditch diggers too, you know.
_
__
It’s times like these I’m glad I am a gun owner so when the revolt happens I won’t be the douche throwing rocks and flaming bottles of 151.
Joe, I was going to offer you the same deal. If you don’t mind clearing land and hauling rocks. Plenty of deer, wild turkeys and a few bears.
No shit, what’s with the abundant wild life, ovah heah?
I saw a wild turkey just standing on the side of the road within the city limits.
My redneck friends are always telling me how “wiley” these sons-of-bitches are, and how “hard” they are to hunt.
Meanwhile I could’ve dinged this fucker with my front fender and had early Thanksgiving, had I the mind.
___
98 is the US average, Jake. you’re obviously a coupla SD below.
Best. Rant. Ever.
I’ve been tearing my hair out at my (financially-literate, but not traders) cow orkers, who keep asking me things like “So we just got married, should we buy a new home now or wait six months?”, “Oh, we don’t worry about the day-to-day moves in the market, it’ll go back up again”. (I had to give them last week’s reversal; for once they were right.)
This isn’t about your mortgage. This isn’t about the value of my portfolio either.
If Wall Street goes, it’s going to take Main Street with it. The scariest conversations have been with cow orkers who claim to be OK with that. They’ll probably change their tune after their first month of anarchy, but by then it’ll be too late.
But if a few intransigent Congresscritters (of either the Jackass or Elephant persuasions) derail this bailout as a result of phone calls coming in 100-to-1 against the deal, and if their doing so results in economic collapse, so be it.
Democracy’s the theory that the common man knows what he wants, and that he deserves to get it good and hard.
And right now, the common man wants to see punishment, not a solution.
Already out of half of my SKF and half my QID.
If this is a headfake, I’m buying it.
Got my hand on the short button, though.
Steady as she goes, Captain Quinn.
______
You know what…let it all crash and burn. We can only learn from pain. So pain must be delivered. Even with a bailout we will have an ephmeral rally.
Fly make that 20 years for congress fucking shit up.
Dido on what The Contractor said…. .40 pointed at ya…
Try this language on for size:
http://www.youtube.com/watch?v=e8KeeDqE5Xc
Reid- Asshole partisan. Typifies the problem.
These ideological fucks crying about socialism today will be fucking BEGGING for socialism in a few years if this thing fails.
Perhaps the stupidest statement I’ve read on this site all week. And that saying a lot, if you aren’t just “j” under another alias.
Do you have any idea about how and why this country was founded? What principles underlie it?
Do you even live here?
Do you know how many people are reluctant to put their money in anything more than a bank account or their business, because that’s all they can trust?
“Begging for socialism?” Reset, try again.
__
Harry Reid is a dope and a partisan hack. Most of them in Congress are as well.
Why isn’t Dodd being investigated for his Countywide dealings?
TC,
They’re all asshole partisans. Fuck them all.
-DT
Fuck bailouts — somewhat correct.
The only thing the government need provide a guarantee on here is FDIC insurance.
Not allowing these banks to fail so as to consolidate (and yes, tighten) the credit markets would be the larger mistake.
However, we don’t need pork on WPA style “infrastructure projects” at this time, either. That shit just crowds out private capital and makes it more difficult for a dynamic economy to ignite.
Agree with you, however, that the $700bn is as good as “rathole money” in the bill as currently contemplated.
Moral hazard upon moral hazard.
___
Listening to Harry Reid right now makes me want to puke. Never his fault. All problems can be traced to Bush, McCain & republicans. Asshat.
Wasn’t me jake.
You wanna talk scandal?
The Fly starts revolution between wall st. and main st.
Problem is they should be joined at the hip in fighting idiocy within government. Both local and federal…
http://en.wikipedia.org/wiki/Pogo_(comics)#.22We_have_met_the_enemy…..22
“we have met the enemy and he is us.”</i)
Class conflict, class conflict
It’s your birthday, it’s your birthday
—-
You really are following the script a little too well.
98 is the US average, Jake. you’re obviously a coupla SD below.
What did they demand of you down at the dingo inseminating job?
I really don’t understand why all you dim bulbs are blaming the banks for the mess. It wasn’t their fault. The Fed were the fucking idiots that kept rates too low and stoked borrowing demand. Banks are ciphers that simply respond to a spread between the borrowing and the lend rate. They know shit about when the market is going to fall etc.
You guys are blaming the wrong people. Furthermore the taxpayer was also in on the act as they were borrowing cheap money to finance homes they couldn’t afford. Fred and fannie and both sides of the congress were responsible for this corruption. Seeing you all voted the fuckers in, you ought to take the responsibility.
You should take responsibility for a stupid prez and an even stupider congress. It’s your fault fuckers.
Wildcat,
Watch Denninger on Ragin’s blog…Republicans had ten years to do something and never wrote one piece of legistlation to prvent our current scenario.
But to be honest all politicians are palm greasing take care of my buddy idiots.
In the 30’s, jake, you numb nut. You were a teenager then still in your diapers so you would recall. unemployment was 25% at times.
Listen, I don’t need confirmation of your “retard status,” dingo milker.
What you’ve provided already is evidence enought. Stuff like the above quote is just “gilding the lily.”
__
Bennet Sedacca
10:24:45 AM
No positions in stocks mentioned.
Credit market update
Have you ever walked up to a diner really hungry and seen a ‘closed for business’ sign on the door?
Welcome to the credit market, folks, it is officially closed. After Lehman, Fannie Mae (FNM), Freddie Mac (FRE), AIG (AIG) and Washington Mutual (WM) debt and preferred holders have been unmercifully tossed under the bus so Jamie Dimon can be given banks, do you really think many want to get in front of this train wreck.
Me thinks not. For what it is worth I was just offered Wachovia (WB) 5.8% hybrids at 10 cents on the dollar, and I passed.
So the few that can raise capital, like JPMorgan (JPM) and Goldman Sachs (GS) will survive, but many failures lie directly in front of us.
Many regional banks are likely next.
Risks remain high, and the stock market, IMO, still has blinders on.
JakeGint,
If you think you have any idea how bad it can get – you don’t. If the financial system collapses, it’s game over. Reset and start again? How do you feel about shitting in a hole that you share with your neighbors because your fucking plumbing doesn’t work? Because once the system goes down, so does the tax base, so does government, so does everything around us.
Americans have been so fucking coddled it’s sick. If the worst comes to pass they will be begging for someone to take care of them. Mark my words.
A brief stock market question. What’s up with LM Today?
The Fly starts revolution between wall st. and main st.
Problem is they should be joined at the hip in fighting idiocy within government. Both local and federal…
Hear! hear!
__
j,
You can not be serious. How do you give a rat to guard the cheese. Then when they eat the cheese you give them more to protect. Wake up buddy. The Fed and Greenspan only allowed for human nature to take over. Fine some small regionals and credit unions do not sit in this position, but you can not just blame the fed.
Blame lobbyists for taking in close to $200 million for persisiting an enviorment for the greedy to milk.
Plus while some buyers of homes are at fault there is such a thing as predatory lending. Just look at the large banks policy to seek out people who can not pay their credit cards. They make more money when you default on credit cards.
Wake up bro you are mis- informed..
oh, and Jake I should say that I’m not a socialist at all.
but the rescue plan isn’t socialism. it’s a necessary step to fix a broken market.
I don’t know if it’s the best solution. but the fact is, we need a solution, and we need one fast.
Watch Denninger on Ragin’s blog…Republicans had ten years to do something and never wrote one piece of legistlation to prvent our current scenario.
Never “wrote?”
That’s a blatent lie, or you’re ill informed. Try doing a Google search on the myriad attempts to reform, and reel-in Fannie Mae and Freddie Mac.
See what happened to those attempts.
______
How about all of America gets off its fat ass, away from their bullshit plasma screens and playstation 3s, and gets a job that creates a goods/assets that can be traded. Not some pyramid scheme. What a novel idea. Simple solution.
I will vote for Fly for Prez. depending on who he puts in charge of the internets.
When and where is Fly’s convention anyway?
Erin —
Chill out, dude. Our economy is a lot more resiliant than you think it is.
Painful? Yes.
Cormac McCarthy’s The Road-type cannibalism?
Um, no.
___
jake,
A tree that bends and sways in the wind survives for a long time. A tree that will not yield breaks….
I’ve done alot of reading about the subject as I said both parties are at fault. Humans on either side of the isle have brought this country to its knees…so leave your belief stucture at the door.
Its gonna be the thrilla in manilla tonight … McCain vs Obama
I have a feeling this will be the most widely viewed telecast, EVER .
“I-need-to-be-in-Washington-until-bailout-deal” McJerk now going to debate tonight.
Why didn’t he just send Sarah?
A brief stock market question. What’s up with LM Today?
Buyout.
(that’s a theory, not an answer).
__
Isn’t the debate supposed to be about foreign affairs (I don’t recall)?
Back to Leave It To Beaver.
oh, and Jake I should say that I’m not a socialist at all.
I didn’t make that assumption.
…but the rescue plan isn’t socialism. it’s a necessary step to fix a broken market.
I don’t know if I’d argue it’s not socialism. It’s certainly nationlization, which goes hand in hand with at least Fabian socialism.
That said, I don’t disagree that certain steps might be necessary.
I don’t know if it’s the best solution. but the fact is, we need a solution, and we need one fast.
I would rather “well thought out,” than “fast.”
________
This is not a question of capitalism vs. socialism.
This is a question of bad economics.
You’ve been smoking the monetarist pipe for years and now the bill is coming due, and guess what? You’re all broke.
Thank fractional reserve banking and government debt for the mess you’re in, and no one here who played the Wall Street game can claim innocence.
Things to do this weekend.
Feel free to add more…
-DT
J,
Granted, the Fed didn’t help matters with extremely low interest rates, however, banks did lower lending standards, often at the insistence of Federal regulators, so more people could qualify for mortgages.
Cheap money + lower lending standards + insane amounts of leverage accumulated by Wall Street = our current mess.
In a convenient world, we could all point to one person and say “He did it” then shoot the bastard. In the real world, there were numerous decisions made by people as far back the late 1980s that eventually brought us to where we are today.
For example, check out this Sept. 30, 1999 New York Times article discussing lower lending standards being implemented by Fannie Mae. The article even mentions that a bailout of these subprime mortgages might be required should the economy slow.
The potential for catastrophe was well known for at least a decade, but no one cares when times are good.
The desire to prove one’s case to other human beings is since time immemorial the wrong way, and for this reason one should never attempt to prove anything to someone else.
The human being must always establish the
reasoning in all matters within himself, namely through his effective perception and realisations, through his thoughts and feelings as well as through deep reflection, out of which understanding, knowledge, experience and the
essence of the whole, wisdom, is gained. Wanting to prove something is wrong in every case where it concerns matters that each human being has to determine and recognise within himself through their own reason and own understanding—out of which the human being’s own inner reasoning is generated. Other proofs, external ones, can only be given for car accidents or crimes and so on, when the facts have to be established in order to serve as
evidence.
However, when dealing with pure facts of reason and understanding, from which proof should be established, then it is absolutely wrong when someone wants to pursue an open and external giving of evidence. Matters of reason and understanding can only be proven through one’s own considerations and conclusions, one’s own thoughts and feelings as well as one’s own inner perceptions and assessment. However, when in such a situation an attempt is made to prove something to someone, then it is as if the person receiving the proof was judged as being stupid or that the one giving the proof is putting his greater intelligence and cleverness on display.
The stupidity of such attempts of proving something is also often substantiated in conversations where, for example, it is said: “I will now show or prove to you
something, then we will finally see who is right.”
Such talk of proving something is dumb, foolish and idiotic, for in every case only the inner perceptions, values, realisations, understanding and experiences as well as the inner knowledge and wisdom furnish real proof.
Such proof corresponds to a rational and reasonable evaluation that results in something being recognised and acknowledged as true and therefore real.
The logical form of the inner establishing of proof-reasoning is a joining of perceptions, realisations, cognitions and conclusions; they can be of various
kinds but always lead to knowledge and to its essence, the truth, the conclusion of the matter, and thus its proof.
An inner proof is based on first creating clarity about the requirements or premises or rather the fundamental facts on which the things that are to be proven are based on. Only with this clarity is it at all possible to recognise the magnitude of information, or rather, potencies and facts, from which the evidence is to be collected. This evidence must then be produced through
inner reflections, thoughts and feelings as well as through inner clarifications.
After this, everything has to be organised according to its value so that they join together in an unbroken chain, and in the end are formed in such a way that it establishes the final result—the proof generated by the evaluation which fundamentally arises out of the correctness of the arguments.
Know-it-alls, spiteful types, critics, and antagonists are not aware of the actual facts about the processing of proof, because in principle they negate everything, out of their own inadequate intelligence and out of naivety, that is necessary for processing proof; yes, they are not even aware of the prerequisites that are necessary for processing proof. Small-minded idiots wanting to compensate their stupidity, ignorance, lack of wisdom and honesty with dishonest attacks and slander in order to prop up their tarnished or weak image and their underdeveloped intelligence.
Truly, an effective processing of proof through reasoning and understanding is an enormous challenge that provokes antagonism from all the know-it-alls, adversaries, critics and those permanently full of spite. They are human beings who already would like to retaliate even before beginning their malicious, adversarial, slanderous, spiteful, mendacious and critical attacks.
I’ve done alot of reading about the subject as I said both parties are at fault. Humans on either side of the isle have brought this country to its knees…so leave your belief stucture at the door.
Hippy try not to be such a hypocritical douchebag. You just two minutes ago said that it was the Republican’s fault, as they had not tried to abate this mess in any way.
All I did was refute your ill-studied assertion. I certainly didn’t say that it was “all the Dems fault.”
Wise up, or, barring that, learn to read your own horse-shit a little more critically.
__
GW
Don’t talk shit. Ever taken out a loan in the US? most states have simple English as part of the contract. i know most American can’t read even simple English, but the stupid bastards that took those loans should have gone to someone to explain it to them. in other words they’re just fucking idiots.
Furthermore starting right from Bush 1, Clinton then this dickhead there was a concerted push to raise house ownership in the US though Fred and Fannie. The voters allowed this shit to go on as they could have taken more of an interest with what was going on. Those two fucking institutions or toilets is a better description were leveraged at 135:1.
On top of that the Fed was running low rates making everyone believe that things were going to go on like that forever. Fuck the Taxpayer s/he was in on the corrupt game and they deserve to lose.
FUCK WALL STREET. We don’t need the failures of the banks. We will do without them. The economy needs the consumer more than they need the wall street banks. Sorry, you are wrong. The market will collapse with or without this bailout. So, it really doesn’t matter. I hope wall street like BLUE collars. You fuck over a bank, it goes under and it can no longer loan. You fuck over a consumer, it cannot spend, therefore screwing our economy. We will have a depression if this shit continues.
an economy built on credit needs credit to survive.
Peace brothers – WTF are you talking about?
Dogwood for tabbed blogger!
__
The financial markets were already fucked, what we are seeing now are the inevitable consequences of past excesses. Remember, the Crash of 1929 did not cause the Great Depression, it was just a symptom. A crash now or next month will be the same …. just a sign of the times.
Then the big wars start up ….
Gint-
We don’t need no stinking legislation.
The rules are ALREADY on the books. We have had no enforcement of said rules because the Bush menstruation has been too busy with two wars and GWB is so goddamned dumb , he wouldn’t understand what is going on if you had his dumb ass locked in a room with Warren Buffet for a month.
I believe what Mr. Fly is trying to point out is that Joe 6 Pack is too fucking unknowledgeable to understand that the “BAILOUT” is also bailing out his stupid, overextended ass too.
It’s past closing time, mate. Go find an American website to flame with your problems. And keep your dingo out of my bar.
No offense, ma’am.
Dogwood.
Don’t just believe the right wing. Here. Bush 11 was also in on the act:
These target quotas for low income borrowing were just insanity.
But by 2004, when HUD next revised the goals, Freddie and Fannie’s purchases of subprime-backed securities had risen tenfold. Foreclosure rates also were rising.
That year, President Bush’s HUD ratcheted up the main affordable-housing goal over the next four years, from 50 percent to 56 percent. John C. Weicher, then an assistant HUD secretary, said the institutions lagged behind even the private market and “must do more.”
http://www.washingtonpost.com/wp-dyn/content/article/2008/06/09/AR2008060902626_2.html
thats the trouble. Everyone fucks around and ruins the economy for the fucking poor. Meanwhile the fucking poor don’t pay a cent in taxes and get all these kickbacks from the government which they then use to fuck the economy.
I says fuck the poor from now on. there’s no fucking reason to be poor in america or say Oz unless you’re fully retarded and therefore should be in an institution.
Gold up FCX down 5 + WTF I guess global slowdown more important.
What sat you Broker A
Don’t worry j, I will always be here for you. And I will always think your fucktarded opinions are worth sharing with your betters. Especially those mean Americans who tossed you out of their country.
Now finish me off and let’s go find a wallaby to give “the ol’ Steve Irwin treatment.”
Don’t talk shit. Ever taken out a loan in the US? most states have simple English as part of the contract.
uh, the prevailing language in this country is now Español.
Dogwood does make Republicans seem smarter than they really are.
-DT
Wyatt Belch, BDS sufferer,
Yes, that’s right son, it’s all Bush’s fault, since he controls the economy, Soviet commisar-style.
Remember, now, it’s 500 mg of thorazine, or the bats with little “Dubya faces” will come back.
___
Time to re-focus bitches
As Mao used to say A leader is someone who finds a parade and gets in front of it.
Our job as investors is to get to the front of the parade. If that parade is headed to Armageddon, so be it – we’re going to jump to the next parade soon enough.
Figure out you strategy, place your bets and stop wasting time who did what or why. That’s not your fucking job.
They should not have bailed out the WAMU depositors. That would have got the attention of the fucking public when they lose their $506.70 of savings.
The public wasn’t hurt bad enough. They don’t understand that most of the package will be used to prevent future pain.
Fucking idiots.
j,
When I took a loan for my house 5 years ago they said here is the rate and my monthly payment. I asked how could it be so cheap. The brokers answer was because we have the ability to aquire the best rates for our clients. I asked if it was an arm and he replied these are the best rates available. I said if you do not detail the rate then I will find some one else. Only then would he give it to telling me it was an arm.
I said I requested a 30 yr fixed why have yo given me and arm? He said he felt interest rates would continue to stay low and that if the went hight I could refinance at a later date.
I said I’m not interested and he replied back give me till tomorrow to work out a rate for you.
As a result I got 5.35% for a 30 yr fixed.
Unfortunately alot of people would not have gone that far. So yes buyer beware, but predatory lending was present sic=nce he would receive extra comish to give me an arm.
Furthermore if you simply reveiw the crash of 1907 and ’29 you will see how this is a mathematical experiment to shrink and control wealth.
Educate yourself…The Federal Reserve is unconstitutional and is controled by private international banking corporations who are robbing America for 100 years now.
http://www.youtube.com/watch?v=_dmPchuXIXQ
that’s a shitty day; why is trin still so low?
Agricultural Chemicals -7.62%
Copper -6.65%
Industrial Metals & Minerals -6.61%
Steel & Iron -6.23%
Savings & Loans -6.13%
Oil & Gas Drilling & Exploration -5.74%
Oil & Gas Equipment & Services -4.81%
J,
A careful reading of my last comment will reveal a complete lack of partisanship. Lots of people of different political stripes made lots of bad decisions to get us here. It is childish to point fingers when everyone was involved to one degree or another for the last two decades.
Attempts to aggressively expand homeownership, be they Republican or Democrat, are and were a bad idea. The mortgage market was doing just fine before lending standards were lowered to help those who could not pay.
If your goal is to determine how and why this happened, then pointing fingers is counterproductive, just focus on the policy decisions that got us here and learn from those mistkaes.
If your goal is to score political points that will soothe your internal rage, then fire away, but just know that for every finger pointed at the right, the right can point to the left and people like Barney Frank, who is still singing the praises of Fannie Mae in spite of its complicity in this disaster.
JakeGint queried someone–think it was Chivas–in an earlier thread regarding the House Republicans’ alternate bill/idea: setting up of a Treasury backed debt insurance, with the premiums paid by the debt buyers who would be motivated to buy the debt because of tax cuts and deregulation. At this point, if someone said they would wave a magic wand over Wall Street, I would greet that as a better alternative then the Bush/Paulson bill.
Therefore, I thought perhaps the House Republican idea was more worthy. After discussing it with my better half, it is an idea showing gross ignorance of why premiums work in the insurance business. They only work because most policies are not redeemed and the premiums are more than enough for the policies that are. As this toxic debt is complicated and its risks concealed, how can any risk/reward insurance plan be set up? How would the premiums be determined?
Don’t attack Dogwood. He’s smarter than you, more informed, and way too in control of his emotions.
It’s much more fun and productive to attack Jake Gint.
-DT
Jake-
Got back from going to the store, got long on ammunition.
As to the previous post, you were correct this needs to be thought through. I guess it was since the debate is on. Also wild turkeys are quite intelligent. For what its worth the dow dropped while Reid spoke as well. As I said politicians should all be quiet and stop speculating till we atleast have a bailout package that we can complain about. Though the day has been milder so far than anticipated.
MVIS has held to a 3 cent loss which is tolerable imho.
Dogwood for President!
j,
Furthermore by fostering an enviornment to allow greed to prevail…well humans are the only life form that will take more than is needed.
That is why we live above the planet and enviornment and not within it.
So blame shall be placed on stupid human beings.
Dino Commie sez:
Dogwood does make Republicans seem smarter than they really are.
Luckily, you don’t present any like problem.
__
DT,
Thanks.
Now, delete your comment complimenting a Republican before you ruin your image. 🙂
Jake,
Let’s get a beer sometime. You buy.
-DT
Dogwood,
I have lots of Republican friends.
In fact, whenever I have parties, I’m always sure to invite a token few just to be inclusive. They stand out, in their tan slacks, light blue shirts, and navy sportcoats.
The grunting and drooling also gives them away.
There, is that better?
-DT
DT,
Better.
Gint-
Luckily for you, I do not partake in personal barbs with insignificant lint like you. Now go home and get your shine box.
You know, the one with “GWB for 3rd Term” decals on it
Greeh Hipster says:
Furthermore by fostering an enviornment (sic) to allow greed to prevail…
That environment’s name?
“Earth.”
_
Fuck it. Let it all burn down. I can’t have kids because I can’t afford it. I don’t have a 401k because I can’t afford it. I stopped using stupid ass credit cards 5 years ago, and I buy my groceries at the farmer’s markets. FUCK THIS BROKEN ASS STUPID SYSTEM THE WAY IT HAS FUCKED ME MY WHOLE GODDAMN LIFE. LET IT BURN DOWN.
Washington should just issue stimulus checks for every U.S. citizen—-man, woman and child. There are approximately 305 million people in the U.S.
So, for example, $2,000 x 305 million = $610 billion “bailout”.
The average family of four gets $8,000. People will do one or more of five things:
1. save it
2. spend it
3. pay off debt
4. gamble/buy lottery tickets
5. invest it in the markets (similar to the third option)
The financial institutions will get the inflow of all this money via “Stimulus package, Part II”
Then let nature take it’s course and see which banks will fail.
Give people a tax deduction if they pay down their debt by having their stimulus check(s) sent directly to their bank that holds their mortgage, credit card, auto loan, HELOC, etc.
Problem solved.
The market is the decider.
“invest it in the markets (similar to the third option)”
Sorry, fourth option. Can’t count today.
Wyatt Belch, BDS Sufferer —
Your thorazine must be 99.999% pure for you to be so deftly stealing my shine box lines. Very nice.
Now, back to your Parchesi.
__
jake,
Your paarty has failed you. You are a true fascist. The republicans had 10 years during the clinton days to write some legistlation. They failed. The Dems also had their chance and they failed.
Why does McCain take in more campaign contributions from FNM/FRE and then make a commercial about Obama. McCain took in 10 x what Obama did.
I’m placing blame on humans in government.
And jake fuck you you fascist bastard. Have you no balls to stand up for what is right and wrong. All your interested is being on the winning team. You have no guts to stand alone. Jake is a faggot playing wet nurse to beleif structure…Wake up you dumb fucking looser.
Is it too early in the day to tell everyone to “drink themselves to sleep?”
-DT
We’re considering boycotting birth, given the fact we’re going to inherit a totally fucked planet.
Unless of course we’re one of Sarah Palin’s grandchildren.
That would change everything for us.
Forgive our spelling of “granchildren”, we’re pre-pre-natal and haven’t had the blessing of public school education yet.
Then we won’t be able to spell anything…
No time to lose!! Donate all of your money to the banks so they can lend it back to you!
You fucking bagholder.
Bagholder?
I’ve been short this market since you were in diapers, fuck face.
Just shut up, before I track you down and have your eyebrows punched off.
Sure, let it burn down.
Don’t bitch and moan when I roll up to your bullshit farm, armed, and take all of your corn.
The Fly is for the bailout and calls main street idiots? Ok. Main street idiots know the bailout in this form is nothing but bullshit and a bankers’ bailout. No reduction of leverage, no transparancy (wtf is a bank worth?) , no regulation of derivatives. What the fuck has Paulson done that has worked in the last 12 months or ever?
The bailout does not address these items and only gives Paulson’s fat cat friends more down paymnent money for that third house in the Hamptons.
Whatever happens with the bailout is likely to be determined by presidential politics. Either one camp will fly high with a solution that Main Street likes, or one camp will saddle the other with heavy blame for having passed an unpopular bill.
Lobbyists will get what they want in the end. Although Paulson & Bush, being lame ducks, may not get what they say they want. What they were told to say they want, though, could be part of a carefully crafted political theater– for the benefit of politicians and lobbyists who are not lame ducks but will remain in power The White Knights will be portrayed as standing up and going against their party (or at least their party’s lame ducks) for the benefit of the people. Stay tuned for further episodes.
NOTE: Rep. Ryan (R Wis.) just on CNBS said the Democrats didn’t have the votes to pass the deal yesterday anyway. He said Bludog Dems and the ‘Hispanic Caucus’ dems were voting no along with some other dems and most of the republicans = deal was literally dead. So EVERYTHING yesterday about a deal being done and the parade of congressman from both parties before the cameras was a LIE. They Democrats never had the votes — even controlling the majority. Too funny.
Sounds to me like some greedy prick went long trying to front run the bailout and now he’s worried that Uncle Sugar won’t bail his ass out too.
What a complete piece of fear-mongering shit you are.
completely agree..
one of ur best posts yet.
screw the pigs:
Look you, I covered all of my shorts right before the monster rally. I went long C and UYG in size, at very low levels.
I am fucking King compared to the lowly shit you are doing. Respect my market Godliness, talk less, and listen more.
You want default? We’ll show you massive defaults. Keep your stinking credit. It’s time for a reset and a ‘deal’ only delays the inevitable.
Your myopic view considers those against the bail out as those in debt. People against the bail out are not dependent on debt. America will be stronger as a net saver and not a net debtor.
Mark your time. All your banks are belong to US.