Fear-mongering is alive & well on Wall Street
jmski52
Posts: 22,897 ✭✭✭✭✭
Yes, Armeggedon has been prevented. "Financial Armeggedon" is the phrase used a minute ago on CNBC. If that's not fear-mongering for the sake of pumping this bailout frenzy, then I don't know what is.
Oh, all is well. AIG stock is UP +30% as we speak...........manipulation? Nah, it's not called manipulation when the government does it.
Putting this in the context of this forum, my sarcasm can (and maybe should be ignored), but this clearly seems to point toward inflation which is positive for precious metals, imo.
Added: Just in - the new Treasury Plan is a "game changer" for Morgan Stanley, and "strengthens it's negotiating position" and its chances for remaining independent.
It's great to have friends in high places.
Oh, all is well. AIG stock is UP +30% as we speak...........manipulation? Nah, it's not called manipulation when the government does it.
Putting this in the context of this forum, my sarcasm can (and maybe should be ignored), but this clearly seems to point toward inflation which is positive for precious metals, imo.
Added: Just in - the new Treasury Plan is a "game changer" for Morgan Stanley, and "strengthens it's negotiating position" and its chances for remaining independent.
It's great to have friends in high places.
Q: Are You Printing Money? Bernanke: Not Literally
I knew it would happen.
I knew it would happen.
0
Comments
Never happen, but a man can dream.
I want to go to AIG and pick up a stapler and some paper since I now own a portion of it. I don't think I'll get anything.
So, the question is: do we own anything or did "they" just use our money to buy themselves out? (rhetorical ?)
Ren
Knowledge is the enemy of fear
<< <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.
Never happen, but a man can dream. >>
That, I could agree with. At the least, if a firm was directly helped (indirectly would prove bothersome to prove), then at a minimum, a certain percentage of any profits should go to a fund to restore funding that did this. Any bonuses should likewise be partially subtracted from. at least at the exec level.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Let's see, for starters - the banks would go out of business and their stockholders would lose everything? The CEOs might not be able to walk away with millions? The taxpayers wouldn't be stuck with bills that can never be paid? The Chinese and Russians who own large chunks of Fannie Mae wouldn't get their payday?
Go ahead, cohodk - tell me more. If you think that fearmongering works now, it will be much worse later. Stick your head in the sand. The biggest losers here are the taxpayers who actually work for a living, and their kids, and their grandkids.
I knew it would happen.
The system is failed. Right now. Just like a patient with the first diagnosis of a terminal disease. But this allows the banks to play with monopoly money for a while longer until they do collapse. One cannot fix a debt-riddled system with more debt and socialized bail outs. We've just guaranteed a few more generations of Americans with debts beyond their means to dispose of in order to keep the banksters afloat in crooked cash. Maybe we should have let the system failure. The first step should be to dissolve the FED and return the power of creating money to WE the PEOPLE....not the govt or its pseudo-agencies.
roadrunner
<< <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.
Never happen, but a man can dream. >>
AIG is taking this loan from the govt at 11% interest.
if they pull this off the govt has a possibility to make some reasonable
money.
read the news, not just the headlines. i recommend changing your
news source.
roadrunner
The banking system HAS failed.
We should have just let them collapse and get this over with. Fat cats be damned.
AIG is looking for a merger as I type this, either that or an infusion of cash from overseas for a batch of their miserable paper.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
<< <i>
<< <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.
Never happen, but a man can dream. >>
AIG is taking this loan from the govt at 11% interest.
if they pull this off the govt has a possibility to make some reasonable
money.
read the news, not just the headlines. i recommend changing your
news source. >>
Who is talking about AIG? My comment was about the 500 Billion dollars the government is setting up to buy bad loans from banks etc. I guess maybe you haven't seen the news today. AIG is only one issue this week, there have been several, and I like my news sources thank you very much.
Edited to add, "Read the news, not just the headlines." Really? You can judge what I read and how much attention to the news I pay to make that statement from my post? As you like to say pffffffft.
<< <i>
<< <i>
<< <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.
Never happen, but a man can dream. >>
AIG is taking this loan from the govt at 11% interest.
if they pull this off the govt has a possibility to make some reasonable
money.
read the news, not just the headlines. i recommend changing your
news source. >>
Who is talking about AIG? My comment was about the 500 Billion dollars the government is setting up to buy bad loans from banks etc. I guess maybe you haven't seen the news today. AIG is only one issue this week, there have been several, and I like my news sources thank you very much.
Edited to add, "Read the news, not just the headlines." Really? You can judge what I read and how much attention to the news I pay to make that statement from my post? As you like to say pffffffft.
my apologies. i was mixing the OP post with your post. The first
post mentions AIG...
but in response to your original post.. AIG, for example, will be giving
up any possible profits they make for a long time to come.
the govt has done this thing before and sometimes they do come
out ahead.
but once again sorry about the headline poke.
RR, you're right...let it fail. It will suck for a long time but maybe we can get our country back from the Fed.
They have done a lot of damage in the past 95 years.
I just hope the Federal Reserve doesn't get a commemorative coin in 2013.
Ren
<< <i>You really dont want to know what would have happened if the banking system failed.
Let's see, for starters - the banks would go out of business and their stockholders would lose everything? The CEOs might not be able to walk away with millions? The taxpayers wouldn't be stuck with bills that can never be paid? The Chinese and Russians who own large chunks of Fannie Mae wouldn't get their payday?
Go ahead, cohodk - tell me more. If you think that fearmongering works now, it will be much worse later. Stick your head in the sand. The biggest losers here are the taxpayers who actually work for a living, and their kids, and their grandkids. >>
Yup. the banks did break themselves. Greed and DEBT kills. Always has, always will.
But the banking system will reinvent itself, and for hopefully these lessons will be learned.
If the banks were to have stopped working--and remember many companies operate in bankruptcy--then you and your friends and your relatives would have found themselves out of work, probably within a week. The grocery stores, gas stations, Wal-marts, would be bare within the next week. That aint fear, thats reality.
So ask yourself, would you rather maintain an income and at least the opportunity to provide for your family, or shutter yourself in your house, fearful your neighbor was going to rob you?
Knowledge is the enemy of fear
HR 5818 "Currency Overhaul for an Industrious Nation."
You can't make stuff like this up!
How about: "Cleaning Out Insider Nation.
HR 5818 - More bad legislation
roadrunner
<< <i>To make this fair, any firm that is helped by any of these bailouts, should forfeit profits until they pay back what was given to them at this time. Employees and executives at these firms should also not be allowed to make performance bonuses until this is done also.
Never happen, but a man can dream. >>
Rob, where did the joker go??
<< <i>
but once again sorry about the headline poke. >>
No biggie... And thanks for the sorry...
GoldBully:
I still show my Joker Icon? I have been adding more so I don't have to be the same joker all the time, but I am back to old faithful right now.
On the topic of wall street, I am normally against bailouts, but this latest one, buying up all the toxic crap loans, may be what turns us around. Hindsight is 20-20 as they say, but if they would have done this 6 months ago, we may not have had some of the bailouts we do now. Like most of you, all I really want is the economy to turn around before it reaches out and takes my job and affects how my family lives. Thanks to planning ahead (paying off everything but the mortgage, mostly and early this year limiting my exposure to stocks), we are as prepared as can be. Whether this bailout even works or not is still yet to be seen, and adding more to the national debt (to keep it on PM topic) IMO long term gives more value to Gold and Silver. Just my two cents on a Saturday morning.
There is absolutely no way they could all come clean in one fell swoop and then set on a course to slowly recover. That would be same as failing the entire banking industry in one day and there is no "reasonable" recovery from that and still maintain our nation and current way of life. The FED has no answers either, just delay tactics to first get past November, and then deal with whatever comes after that.
If I were judging the FED and Treasury from the sidelines I would applaud them for keeping the iceberg-struck Titanic from sinking, a seemingly impossible feat. But now they have to get the ship back to port without power or without a tow. How do you do that?
roadrunner
Aside from some non recoverable cost the feds may incurr, aside from fronting money that is "borrowed" money in itself, aside from various federal programs such as medicare and social security that have ever increasing $ expenditures, aside from the real possiblities that these businesses that are bailed out may yet fail, aside from the additional demands this puts upon the productive sector of the economy, how can this be anything but good?
Sometimes bigger means more fragile and consequences can be much more devastating.
<< <i>
<< <i>You really dont want to know what would have happened if the banking system failed.
Let's see, for starters - the banks would go out of business and their stockholders would lose everything? The CEOs might not be able to walk away with millions? The taxpayers wouldn't be stuck with bills that can never be paid? The Chinese and Russians who own large chunks of Fannie Mae wouldn't get their payday?
Go ahead, cohodk - tell me more. If you think that fearmongering works now, it will be much worse later. Stick your head in the sand. The biggest losers here are the taxpayers who actually work for a living, and their kids, and their grandkids. >>
Yup. the banks did break themselves. Greed and DEBT kills. Always has, always will.
But the banking system will reinvent itself, and for hopefully these lessons will be learned.
If the banks were to have stopped working--and remember many companies operate in bankruptcy--then you and your friends and your relatives would have found themselves out of work, probably within a week. The grocery stores, gas stations, Wal-marts, would be bare within the next week. That aint fear, thats reality.
So ask yourself, would you rather maintain an income and at least the opportunity to provide for your family, or shutter yourself in your house, fearful your neighbor was going to rob you? >>
agree worst case scenario is not what anyone really wants nor the reason for buying PM. i just hope this is somehat "just" for the fat cats. i think for the PM bugs, their major beef is that the comex value of gold does NOT reflect the economic conditions we are in right now. or is PM really truly not a barometer in this type of economic storm???????
<< <i>
agree worst case scenario is not what anyone really wants nor the reason for buying PM. >>
Reading some of the posts here, I doubt that.
My icon IS my coin. It is a gem 1949 FBL Franklin.
<< <i>Federal debt is over $9.6 trillion, exceeds 60% of the GDP. And these are the people bailing out bad business models?
I've seen numbers like $53 trillion is our Federal debt and prescription drugs alone are $8 trillion (which was passed w/o a real fight), a full 15% of our debt. I'm not sure but would these numbers be unfunded liabilites(?)
Ren
we just bought an insurance
company.
Camelot
That way, their will be
true value supporting our money.
Camelot
going to say this once. The tax payers
pick up the debt and the companies
and top management pick up the profit.
Any apparent limitations on the right of CEOs
to gouge the system, will be removed thru amendments
proposed by lobbyists so that the little dears can leave
with 40 -100 million dollars in farewell money.
Camelot