sajincc

From Widows to the UAW

"The Securities and Exchange Commission should be very interested in any financial company that secretly decides a financial product is a loser and then goes out and actively markets that product or very similar products to unsuspecting customers without disclosing its true opinion," said Laurence Kotlikoff, a Boston University economics professor who's proposed a massive overhaul of the nation's banks. "This is fraud and should be prosecuted." The totality of Goldman's influence shows it s will not face prosecution and will likewise avoid any rule changes that deprives it of unfettered access to the continued protection from this type of conduct.

The Tide Has Turned

You must be speaking to the 401K pitch fork people standing outside your door. I've noticed that cheerleading continues even when its 50 to nothing. Thanks for the cheerleading.

Congress' Handling of AIG Bonuses Is Shameful

Congress did not sccumb to the angry mob, they created the angry mob to go to NY and threaten AIG, so that they would not go to Washington and threaten the ones that approved and protected the bonuses through legislation (i.e., Senator Dodd). Congress is willing to pit American against American to keep their political position. An immoral disgrace to our Constitution and Country

Does Gold Beat the DJIA? It Depends

The answer "it depends" simply ignores the significance of pre-1933 gold controls and the fact that post-2007 does not have a comparison between 1941 to 2007. Gold always loses it shine in good times and its the same as convincing a young couple they need to carry life and major medical health insurance. Not because in the long run insurance is better investment. Gold has this value.

Mortgage Cramdowns: A Disaster in the Making

Tom: mortgage cramdown has been a part of the bankruptcy code for 100 years. In all context except consumer home loans it has a protection called the 1111(B) election that prevents cramdown in bad times and when the market recovers, a windfall to the debtor at the expense of the creditor. Credit Card lobby and financial interests controlled the bankruptcy reform act making financial "involuntary servitude" a new reality beginning in 1995. Why not learn a little more about the bankruptcy code, and await the proposed legislation to see how it is proposed. As it stands today, consumers have no possible bankruptcy relief from home loans made by the "bubble creating" financial wizards and mortgage brokers. This is not a problem started by bad home owners and they should not suffer the brunt of the fix.

The Shallowest Generation

Amazing work; amazing analysis; amazingly obvious to all but those of our generation.

Sitting Pretty With Sears - Cramer's Lightning Round (9/18/08)

Southern Peru Copper just lost its claim to the copper mine, in a fraudulent transfer judgment entered in the Southern District of Texas, Brownsville Division, arising out of the ASARCO bankruptcy proceeding seeking return of this asset. I am surprised that there is a buy recommendation?