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Gary A

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  • Meredith Whitney: 'I Haven't Been This Bearish in a Year' [View article]
    No one else is going to buy these mortgage backed securities. There is no other market. Bill Gross is getting out of them.

    This credit contraction is not over and will bite this economy.

    And states are tanking even though the government lies about consumer spending. It has to be a lie, just look at the tax receipts of the states. Investors who are believing government numbers are foolish.
    Nov 16 08:14 PM | 41 Likes Like |Link to Comment
  • What’s Really Behind QE2? [View article]
    No the dealers bid at auction. Then the Fed announces when they are going to buy from the dealers and the dealers profit.
    Nov 20 03:42 AM | 27 Likes Like |Link to Comment
  • It Can Happen Here: The Confiscation Scheme Planned For U.S. And U.K. Depositors [View article]
    Did you read the article? The issue is that we loan the banks money and it is their money while it is in the bank. People should know that.
    Mar 28 08:20 PM | 26 Likes Like |Link to Comment
  • What’s Really Behind QE2? [View article]
    Hi Ellen, You say: "The bond dealers would then be likely to use the money to buy more Treasuries, increasing overall Treasury sales.

    The bankers who applauded QE1 were generally critical of QE2, probably because they would get nothing out of it."

    But the bond dealers are essentially the investment banks, and not all of them are even US banks. The Fed is buying treasuries at artificially high prices from banks that are FOREIGN. This is terrible. And when they sell to the US investment banks like Merrill and Goldman Sachs, they use the profits to speculate. This is terrible too!

    The ultimate question is if this will trickle down to mainstreet. If it does I will eat my words, but I believe it will hurt mainstreet instead.
    Nov 19 10:42 PM | 26 Likes Like |Link to Comment
  • New Fed Data: Economy Drowning In Federal Debt [View article]
    The author said:

    "Businesses' reluctance to invest is understandable given the huge increase in government indebtedness during the Obama years."

    I believe that is ludicrous. Business has not hired because we had a credit event and they hoard cash in lieu of getting loans in the future due to a future credit crunch. And I am sure they realize that there is a lack of demand because of the author's main point, that households are spending less than they are bringing in.
    Mar 11 01:54 AM | 21 Likes Like |Link to Comment
  • Did a Clever SEC Bait Goldman Sachs Into Compounding Its Legal Problems? [View article]
    Criminal minds throw up diversions as the author says. Does this mean that Jim Cramer, who also commented on the fact that Goldman lost money, has a criminal mind as well? Why would he take the Goldman line if it risks his credibility? What does Jim Cramer have to lose? Maybe he could drop by and clarify what he has to lose if indeed this is the kiss of death and Goldman
    ceases to exist?

    BTW, this article and the autobiography blows me away. Kudos for SA for publishing this article.
    Apr 19 12:56 PM | 20 Likes Like |Link to Comment
  • Mortgage-Title Fraud: A National Catastrophe [View article]
    Time for Rico Charges against JPM, BAC and your friendly, Ally Bank.
    Oct 8 12:31 PM | 19 Likes Like |Link to Comment
  • 'We're on the Path for Fireworks in 2010' [View article]
    Larry Summers is one of the biggest idiots in thinking that loans just have to be supplied and people will borrow. First, loans are sort of being supplied, and second, there is little demand.

    Kill the American consumer and you kill the American economy, something that bailout Larry just doesn't grasp.
    Dec 29 11:38 AM | 19 Likes Like |Link to Comment
  • Why It's Likely a Correction and Not Another Train Crash [View article]
    I guess that my question revolves around the massive leverage of European banks. The big German banks are leveraged from 60 to 1 all the way up past 120 to 1. If Spain or any country doesn't pay, these banks are effectively insolvent.

    How does this play to the world liquidy crisis? It should make everyone nervous.
    May 30 02:02 PM | 18 Likes Like |Link to Comment
  • Is a Boom in U.S. Homebuilding Coming? [View article]
    Also household formation has disappointed. I don't see that changing. People don't need homes if they can live with mom and dad.
    Apr 12 05:19 PM | 18 Likes Like |Link to Comment
  • Goldman Charges Having Wide Impact [View article]
    The plunge protection team has their work cut out for it. Now the world knows that the markets are rigged. It is a dangerous game when only the insiders know when to take the market up or down. I think we all knew here that the market was rigged. Now everyone will know.
    Apr 16 12:31 PM | 17 Likes Like |Link to Comment
  • Chance of a Depression Now 5 Percent [View article]
    5 percent is still too low. But you are heading in the right direction. The US consumer cannot afford a weak dollar so a strong dollar, and slow growth actually gives the US consumer a raise. Don't think that we can rely on Chinese consumers running up Wall Street credit cards to pull us out of the malaise.
    Nov 17 05:19 PM | 17 Likes Like |Link to Comment
  • Extending jobless benefits pays people to be unemployed, so more of them will be, Kelly Evans believes, with a rise in the U.S. jobless rate the unfortunate but likely reality of the move to fund unemployment benefits for another 13 months. Maybe for a few, Peter Coy counters, but it will also boost growth - a worthy tradeoff.  [View news story]
    This is the Glenn Beck school of stupidity talking. The greedy banksters got their government cut, in trillions. But don't give the unemployed a break. You guys make me nauseous.
    Dec 9 07:25 PM | 16 Likes Like |Link to Comment
  • A Better Question Than Who to Blame for the Financial Crisis [View article]
    No Tim, clearly the primary cause was Basel 2. Basel 2 in 1998 allowed for low capital requirements and off balance sheet banking. Greenspan, Bernanke and Geithner all worked to make sure that these parameters were in place in the US system. Greenspan advocated using adjustables in Feb, 2004 instead of fixed loans. Bernanke allowed the ponzi bubble to continue. And that sorry excuse for a man, Tim Geithner pushed to allow low capital requirements as late as 2007 and then gave Goldman and the European banks the big payoff from AIG on 100 cents on the dollar. AIG was duped by Goldman, as I have seen in reports, into writing the insurance. And Goldman shorted that very insurance.

    The Fed allowed all of it, even allowing underwriting to literally disappear. So, the Fed, and the other central banks are the dark overlords of international banking and the New World Order. They transfered huge sums of money from the middle classes to the most elite and if they were in China they would all be executed by the government for their crimes.

    Disclaimer: I am not advocating the death penalty, only a very long time in the slammer for all of them. I think they all should be investigated for racketeering. That is right: racketeering. The Fed is a private bank. Greenspan and Bernanke and Geithner and H. Paulson should be investigated for their actions as private citizens.

    And BTW Tim, the volcano in Iceland was a black swan. The economic meltdown and ponzi scheme that caused it was no black swan. It was planned. Real estate inflated worldwide at the time. In many places, like Australia and Canada it hasn't even crashed yet.

    Voltaire said: "All murderers are punished unless they kill in large numbers and to the sound of trumpets"

    While I applied that to my George Bush article, it can be reformed to fit the international banker cabal. It would go "All financial predators are punished unless they prey on the lower and middle classes in large numbers and to the sound of NAR."
    Apr 22 02:30 PM | 16 Likes Like |Link to Comment
  • Goldman Sachs and the Truth, the Whole Truth and Nothing but the Truth [View article]
    That is ridiculous. While there are anti semite folks that sometimes post, that is by far a minority. The only way to beat Goldman is to avoid the race card. Sometimes I think Goldman employees play it to gain sympathy, like they are holocaust victims or something. My natural father was Jewish and I am adopted. I have absolutely no interest or desire to bash with a race card. I do have an interest to protect the middle class from predators who are of many different races and are criminal types.
    Apr 17 09:41 PM | 16 Likes Like |Link to Comment