Anyone see the new HBO movie
calleocho
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"Too big to fail"
I found it fascinating ....
I found it fascinating ....
"Women should be obscene and not heard. "
Groucho Marx
Groucho Marx
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Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Oh it's a movie, I thought it was going to be a mini series. I'll have to check it out, but I did mention to the wife that I wonder which angle they were taking on it. HBO can be very lefty with it's productions. >>
With the way things are going I wouldn't be surprised to see a sequel in the future.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Oh it's a movie, I thought it was going to be a mini series. I'll have to check it out, but I did mention to the wife that I wonder which angle they were taking on it. HBO can be very lefty with it's productions. >>
"Very lefty"? If they go any more left they're gonna fall off the edge of the Earth.
Knowledge is the enemy of fear
<< <i>"Too big to fail"
I found it fascinating .... >>
I find it fascinating that people can find it fascinating.
<< <i>id like to see that movie as well >>
It will be on again tonight at 8PM EDT
Box of 20
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Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Propaganda. They really "saved" us from meltdown
Click on this link to see my ebay listings.
The cast is pretty amazing, with a good array of actors. Its actually pretty fun to match the actors with their real life counterparts.
You must have an interest in the financial meltdown, I personally have a genuine interest and basic knowledge of what happened but if you are not into it then the movie might be a bit dense and slow.
Also if you are into massive conspiracies and major cover ups, you will probably dismiss the movie altogether.
The movie doesn't seem to take any political sides, it takes some shots at congress in general but that's just about it.
What I got from the movie is what I have always suspected ....most people in power are not as evil as they are mostly incompetent.
The government was late to the crisis, they first underestimated it, then ran around in desperation.
At one point it actually looks like they are in denial of the whole catastrophe. Aides are running around throwing ideas to see what sticks etc. The banksters are also clueless and the fog of their own egos is enormous.
Its a very well done movie which is hard to do since the history part of it its still being written as we speak. I wish some players would have been given more air time such as the chairwoman of the FDIC.
A lot of things might still be proven wrong as time goes...I think Cohodk is right in his saying of Ben looking in the mirror and wondering what would it take to get inflation going LOL.
Groucho Marx
<< <i> I wonder which angle they were taking on it. HBO can be very lefty with it's productions. >>
I have a feeling that the even the slightest perceived criticism of a Republican would get it labeled by you as "very lefty." Considering that nearly all of the events leading up to the crisis happened with Rs running the White House and Congress, you probably shouldn't watch.
Edited to add: I do however, fear that the unknowing public is now convinced that these characters were all heroes. What a shame. Just another classic case of controlling public thought.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Not bad, great acting. It didn't show the true greediness of the big banks. It didn't show the gorvenment's and the fed's role in causing the problem: Artificially low interest rates by the Fed and Washington pushing mortgage companies to loan to anyone while failing to enforce regulation and provide adequate oversight. I believe it will leave those that do not know the true story thinking that Paulson, Bernake and Geither "saved the day," when in reality they were a big part of the cause (asleep at the wheel leading up to the meltdown). >>
Although they were "asleep at the wheels"....In my opinion they did "save the day, week, month."
<< <i>Although they were "asleep at the wheels"....In my opinion they did "save the day, week, month." >>
Yes, for the banks they did indeed.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Although they were "asleep at the wheels"....In my opinion they did "save the day, week, month." >>
Yes, for the banks they did indeed. >>
For the entire financial system as we & most of world know it.
<< <i>In my opinion they did "save the day, week, month." >>
Are you basing that on what the HBO "drama" sold you or have you always been convinced of that? Many viewers who know little about the meltdown are now convinced, thanks to the HBO viewing, that Washington and Wall Street saved the day, when in fact they created the crises. Instead of benefting from the crisis at the taxpayers' expense, each of those bankers should be receiving three square meals a day from the taxpayers.
Not only should Washington have let them fail (there were still plenty of solid smaller banks) to purge the system of the rot, they succeeded in making them bigger with forced mergers. The financial system will ultimately have to recognize the losses that the manipulated mortgage market created. Why drag it out and make the world's financial systems suffer a slow painful death? Like going to the dentist and having him ask "you want me to snatch that bad tooth out and get it over with or would you like to let it fester for a while and them have me pull it? It's gonna hurt either way, how long it hurts is up to you."
Upcoming European soverign defaults are a result of failure to let the markets issue their their own correction. Others will follow. Nothing has been done to rectify the problem of investment banks gambling with depositors' money. Washington even threw in hundreds of billions in tax dollars to increase their stack of chips. To this day they continue to gamble in the stock market with other peoples' money. Of course this pleases Washington because many markets are now being falsely propped up with the overabundance of free money. When investment markets look good, Washington thinks it makes them look good. We all know it's really not "good." Until investment banks are once again separated from consumer banks (caused by repeal of the Glass Steagal Act) the problem will continue. As long as the 2Ws are in bed together we will continue to have our wealth transferred to them. The only role for government in banking is strict, effective and swift regulation.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>In my opinion they did "save the day, week, month." >>
Are you basing that on what the HBO "drama" sold you or have you always been convinced of that? Many viewers who know little about the meltdown are now convinced, thanks to the HBO viewing, that Washington and Wall Street saved the day, when in fact they created the crises. Instead of benefting from the crisis at the taxpayers' expense, each of those bankers should be receiving three square meals a day from the taxpayers.
Not only should Washington have let them fail (there were still plenty of solid smaller banks) to purge the system of the rot, they succeeded in making them bigger with forced mergers. The financial system will ultimately have to recognize the losses that the manipulated mortgage market created. Why drag it out and make the world's financial systems suffer a slow painful death? Like going to the dentist and having him ask "you want me to snatch that bad tooth out and get it over with or would you like to let it fester for a while and them have me pull it? It's gonna hurt either way, how long it hurts is up to you."
Upcoming European soverign defaults are a result of failure to let the markets issue their their own correction. Others will follow. Nothing has been done to rectify the problem of investment banks gambling with depositors' money. Washington even threw in hundreds of billions in tax dollars to increase their stack of chips. To this day they continue to gamble in the stock market with other peoples' money. Of course this pleases Washington because many markets are now being falsely propped up with the overabundance of free money. When investment markets look good, Washington thinks it makes them look good. We all know it's really not "good." Until investment banks are once again separated from consumer banks (caused by repeal of the Glass Steagal Act) the problem will continue. As long as the 2Ws are in bed together we will continue to have our wealth transferred to them. The only role for government in banking is strict, effective and swift regulation. >>
the dentist analogy is very good, but I still think the vomiting analogy works a little better
I haven't seen the show yet, but I'm curious how did they do the scene where Paulson and Bernanke outright lie to Congress and there are emails to prove it, but neither of them are indicted? And how did they explain derivatives and ninja loans -->MBS in laymen's terms?
edited to add: Now I have to finish reading this Soros garbage and watch an HBO show to boot.
Box of 20
It appears that the day wasn't saved after all, it was just put off for another administration to deal with (while the taxpayers continue to suffer and while more wealth is transferred).
Here's their list:
Alarm Bell:
"we note that at current levels we are almost twice as risky currently as were prior to the financial crisis."
Source Document
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Although they were "asleep at the wheels"....In my opinion they did "save the day, week, month." >>
Yes, for the banks they did indeed. >>
I wish they had not pumped $800 billion into the banks that day. It would be so much fun today to listen to the whining of 30% unemployed. To hear the stories of how the supermarket ran out of food, and that the gas station was out of fuel.
Yes, the banks and Congress were the problem, but if it had not been addressed with speed and efficiency, the stories of the ensuing chaos would have been passed down for generations.
Knowledge is the enemy of fear
Groucho Marx
<< <i>Yes, the banks and Congress were the problem, but if it had not been addressed with speed and efficiency, the stories of the ensuing chaos would have been passed down for generations. >>
We'd already be telling them if we had let it play itself out.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I'd purchase soda shares the next time there is a crisis.
<< <i>Did you see the movie Cohodk? >>
Nope. I cancelled my HBO subscription after a series of extremely politically biased programs. I can get that crap for free from the large "news" outlets.
So while I havent commented on the movie itself, I do have a pretty keen idea of what would have happened had the banks all failed, credit seized, and the flow of goods halted.
Knowledge is the enemy of fear
<< <i>So while I havent commented on the movie itself, I do have a pretty keen idea of what would have happened had the banks all failed, credit seized, and the flow of goods halted. >>
An economic revolution would have ensued. The house of cards would have crumbled and one with a stronger foundation would have replaced it. The banks that deserved to fail would have failed. Granted they hold a majority of the nation's personal debt, but there are 100 times as many banks that were not part of the problem. This country is strong enough to have survived the ensuing crisis, those that disagree do not realize the strength of the American people. Amercians would have been totally fed up with the resulting chaos and turmoil and demanded that the people responsible be held accountable instead of rewarded with re-election, continuing outrageous bonuses and the receipt of hundreds of billions of taxpayer dollars.
Sure, there would have been serious turmoil but our economy would be a lot healthier today as a result of it. We will never know the "what if" scenario had our government officials done the same as they did with Lehman Bros. and let the rest of them suffer from their own greed. There will always be two camps on this; those that think governement saved the day with a crisis that was in a great part created by government, and those that think as I do. I respectfully disagree with those that think governement saved the day when I look at the resulting cost to us in tax dollars, even bigger and more powerful banks from forced mergers and most importantly the total failure of the Washington "saviors" to take steps to keep it from happening again. Washington protected Wall Street and did so at the expense of the Main Street. Don't think for a minute that the well being of you and I were their primary concern. They could just as easily have broken up the greedy big boys and given them to the hundreds of responsible smaller banks.
Another example of a crisis resulting in more money and more power to those that caused it. I have no doubt they will go down that road again, what have they got to lose?
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i>Did you see the movie Cohodk? >>
Nope. I cancelled my HBO subscription after a series of extremely politically biased programs. I can get that crap for free from the large "news" outlets.
So while I havent commented on the movie itself, I do have a pretty keen idea of what would have happened had the banks all failed, credit seized, and the flow of goods halted. >>
As in the movie, your summation is right on. Any one who studied the primary cause of the Great Depression would agree. (btw it wasn't the stock market crash) As an afterthought, I seriously doubt if we'd still be communicating on this board if the Fed did not act as they did. Now, if we can only bring our deficit under control........
2008-2011 3 years & getting worse. A view from my side of the fence
If you subsidize something, you get more of it. That's true for bank bailouts, and it's true for government subsidies to the unemployed.
I keep fixating on how nebulous the concept of money really is. There's alot of propaganda and mis-direction involved in this shell game that the bankers play, and it's mostly about the definition of "money".
Money is used to control the actions of a whole lot of people, for the benefit of the bankers. Then again, that's just one man's opinion.
I knew it would happen.
<< <i>Well I personally have not seen one bit of "improvement" since bailouts. Higher food,gas, & unacceptable unemployment.
2008-2011 3 years & getting worse. A view from my side of the fence
The bail out was not meant as an "improvement," but to save our Financial System from collapse. Just imagine where you'd bee without the bail-outs. - It's to early in the AM for nightmares. -
Although 10% unemployment is worrisome, but doing nothing would have been a SHTF event.
The fact that the government picks winners and losers in this scenario, and in the car business, and in the electrical manufacturing industry is not a good thing.
Ron Paul is correct when he continues to point out the gross mis-allocations of resources and inefficiencies that happen when the market is circumvented and the government gets involved.
I knew it would happen.
I am almost certain my company would have closed. I would probably would have to sell off some or most of my assets to help my family. My brother's business would have surely went under. Sure the USA would eventually come out of it but not without a lot of pain. We only postponed the inevitable, so I think we are headed for some dark times ahead.
Box of 20
"Fascism should rightly be called corporatism, as it is the merger of corporate and government power." ~ Benito Mussolini
Now that we are pushing the three years anniversary of the dramatic financial events of September 2008, it is fair to say, for anyone who has researched the subject on their own, that this movie is nothing but a popularization of the mainstream version of a crisis that only has been postponed and worsened. It portrays the criminals of the revolving door between Washington D.C. and Wall Street as heroes, without so much as touching upon the real reason for the boom and bust phenomenon.
Let’s dissect the movie scene by scene.
The introduction shows the Clinton administration repealing Glass-Steagall and how home ownership all of a sudden became a part of the American dream. How Bush Jr. meant that inflating the largest mortgage bubble in history was "good not only for the soul, but also for the pocketbooks of the country." Several news clips are shown, none of which include the accurate warnings given by free market economists such as Peter Schiff or Jim Rogers. Surprised talking heads announce how Bear Stearns are being sold for pennies on the dollar to JP Morgan before the story kicks off in Lehman Brothers’ CEO and Chairman Dick Fuld’s office.
Fuld seems surprised with the situation of his financial Titanic, which makes little sense considering the outrageous repurchase transactions he undertook prior to September 2008 to cover for the bank’s true leverage ratio. Fuld’s scapegoat is instead the police of the markets, the short sellers!
TOO BIG TO FAIL
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>As in the movie, your summation is right on. Any one who studied the primary cause of the Great Depression would agree. (btw it wasn't the stock market crash) As an afterthought, I seriously doubt if we'd still be communicating on this board if the Fed did not act as they did. Now, if we can only bring our deficit under control........
I am almost certain my company would have closed. I would probably would have to sell off some or most of my assets to help my family. My brother's business would have surely went under. Sure the USA would eventually come out of it but not without a lot of pain. We only postponed the inevitable, so I think we are headed for some dark times ahead. >>
Well stated. MJ
Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
The "Big Fix" fixed nothing. It only expedited the transfer of money from the pockets of the taxpayers to the pockets of those responsible for the crisis, and postponed for the US what much of Europe is experiencing. While most Americans think the crisis was averted and have returned to a life of more personal debt, the smart money knows it is still brewing and is preparing for the outcome.
Can't wait for the HBO sequel, "Too Big to Explode."
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>Can't wait for the HBO sequel, "Too Big to Implode." >>
I fixed it for you.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
This morning, a trader told the CNBC talking heads that the world is "on the edge
of a Great Depression."
The cheerleaders didn't wanna talk about it.
QE3 is right around the corner.
Yep, he ended the piece with the statement that stocks are producing outstanding yields so we need to buy more stocks and not be so bearish "betting against" recovery. He made this statement to his own piece entitled that we are on the edge of a great, great depression...so his answer is to buy more stocks. Maybe he needs to read more about the stock market and the great depression.
article about a great, great depression