theobannion

Charlie Gasparino: Another Crash 'Has to Happen Again'

"How anyone considering themselves to be a capitalist can support this arrangement is beyond me."

Is he serious? Anyone w/ a bundle of big bucks who doesn't invest them in buying his share of the government can hardly be said to be pursuing his "enlightened self-interest." And, maybe I'm missing something, but isn't that what capitalism is about? Do you think stupid people graduate w/ advanced degrees in economics and finance from Ivy League colleges? That the Savings & Loan crisis of two decades ago was an exercise in stupidity? Reagan tossed out regulation, but kept the taxpayer-backstop. Bankers pursued their enlightened self-interest and maxed out risk-taking because the profits were all theirs, but the risks were picked up by the taxpayers.

It kills me to hear people talking about our "not having learned anything" from all these prior disasters: of COURSE we learned! We learned that it was absolutely painless to screw the American People. We learned that business' top bureaucrats could walk away with labor's share of everything. The American worker has never had it as good as in 1950 because that goose that lays the golden eggs has been laying them in the pockets of the executive suite.

SOB.

Fannie Mae Burns Even More Taxpayer Money

Cool article. But you seem to believe that the S&P & the Dow exist in a free mkt. They exist in 1) a bubble and 2) are being supported by the FOP's,* besides.

Stay tuned as the gap between the mkt and economic reality widens.

Best,
SOB

*FOP = Friends of Paulson.

Obama's Financial Reforms: Who Stands to Lose

All of that is at least interesting, if not great; but there's a long distance between a proposal & a final result. Let's not forget that the tens of thousands of industry lobbyists haven't spent all their bribe money yet.

SOB.

Bear Stearns: One Year Later

I think the clock starts ticking when the fraud is discovered.


On Mar 16 11:24 AM James Wilson wrote:

> Numbers lie and lairs lie.
>
> Charges can be brought how long after fraud ???