hanson001

Wall Street Breakfast: Must-Know News

"Banks have now repaid much of what they borrowed, with Bank of America (BAC) the latest to do so on Wednesday after it said it will repay the $45B it borrowed."

So if a bank says it will do something, it is as good as "taking it to the bank" ?

Wall Street Breakfast: Must-Know News

IBDG (in before doubleguns).

I was starting to get conditioned. Thanks man.

Wall Street Breakfast: Must-Know News

"The question remains whether BofA executives willfully chose to violate securities laws, or received advice from outside counsel" to do so.

Yes the devil made me do it.

Wall Street Breakfast: Must-Know News

I hope Ford makes it through this slump and doesn't go to the taxpayer for a bailout like GM and Chrysler. I bet not focusing on how someone else is going to save you might produce a better business plan and better products. My next vehicle will be a Ford. Now, how about these mortgages.

Here we are with false interest rates (not market driven) for mortgages. The government and American people seem to be "all in" on the bailout of the most outrageous over consumption of an asset in history. I would like to ask everyone SA to originate your own mortgages at 4 - 4.5% and carry them on your balance sheets. If you choose to do this, I bet you would also be in line for a bailout in five years.

What's happening is crazy with no thought of the future. Interest rates will be heading a lot higher in the years to come because of all the world's government involvement.

Home prices should be allowed to adjust in the free market. The prices are too high for the new slower growing economy of the future. Someone has to take the loss. Looks like once again, it's the taxpayer, or the taxpayer that lived within his/her means.

Wall Street Breakfast: Must-Know News

The table of contents of Obama's new budget displays a heading Inheriting a Legacy of Misplaced Priorities. The verb, Inheriting, is used by Mr. Obama every time he communicates with the American population about the economy. This is a word he must use as he leads the country into greater problems. Use of this verb, he hopes, will get the blame off him. He is already looking out four years.

I can not wait for the next president to come and use the verb inherited. What happened to hope and change Mr. Obama. It looks like more of the same. Dang!

Wall Street Breakfast: Must-Know News

"Legislators had sought out Citi's support, hoping banking industry support would help the bill be approved more quickly, and Citi was duly applauded for 'being open-minded' and 'playing a major leadership role.' Senate Democrats hope to include the bill in Obama's stimulus plan."

See, if you agree with the socialist in Washington, you are "open-minded" and playing a "major leadership role." Once you take the government money, they are going to run you. The tide is going out and now we see what dollar whores the CEO's are.

Wall Street Breakfast: Must-Know News

From above:

"Sources say the Fed and the Office of the Comptroller of the Currency are becoming involved in internal discussions about Citi's strategic direction and discouraging executives from pursuing certain acquisitions. The FDIC has also gotten involved, pitching Citi about possibly acquiring certain troubled banks and holding Citi bank from other overly-ambitious deals."

From: www.bloggingstocks.com.../

"My former employer, Bloomberg News, is on a quest to learn the identities of the recipients of $2 trillion in emergency loans from the federal government and what collateral the Federal Reserve is accepting in return. The government has thrown up roadblock after roadblock.

Bloomberg and other media organizations filed suit under the Freedom of Information Act to force the government to disclose how it's spending money under the biggest intervention in the economy since the Great Depression. On December 8, the Fed rejected the request, saying it's allowed to withhold information about trade secrets and commercial information, according to an article in Bloomberg."

The socialism is spreading. Don't be fooled it's here. Next stop is the dictatorship. That's if the Revolution doesn't kill it.

Got the bill for my parish/county taxes the other day. Up about 300% from last year. They assess the value every 4 years. Called the Tax Accessor's Office to question and it was stated, "it cost a lot to run a parish." Now I will be forced to go downtown to educate myself as to the reason for such an extreme change. I could not get a comprehensible answer over the phone.

This is the same type of service we can look forward to as the government sucks up more and more of the economy. By the time the government "fixes" everything, you will think Bush was the Dala Lama.

I am having a hard time locating 7.62 ammo. Does anyone have a lead on a supply source?

Wall Street Breakfast: Must-Know News

Axelrod: "If you vote for a Republicrat, YOU are the problem."

Yes this is a problem. But our country is so fragmented, I don't think greater number of political parties will solve the problem. Hitler came to power when Germany's many political parties perpetually screwed things up. People were tired of disagreements and the cynicism. Remember, he made the trains run on time.

Our dictatorship is on the way. Don't know when but it makes perfect logical sense. We are sheeple. We do not what to think for ourselves, wishing a great political person to do the thinking for us. We are never to blame for anything and want something for nothing. As I study history, this always leads to dictatorship.

It kills me that both Houses are controlled by one political party. I think Congress is a total waste of our nation's capital. Much better they be divided and not be able to pass any bill.

On Dec 04 10:49 AM axelrod608 wrote:

> Both of the two ruling parties are responsible for creating this
> mess. They all confuse the term "oversight" with "overlook", and
> they overlook all the chicanery going on in corporate America. Similarly,
> both ruling parties are committed to spending us out of the mess,
> even though logic and historical evidence indicates it cannot be
> done. And the incoming administration, from all reports, is totally
> committed to continue the orgy of throwing vast quantities of borrowed
> money at the problem.
>
> Aside from a handful of individuals like Ron Paul, the "fools on
> the hill" and administrations believe they can solve this problem
> they created. A line from the Vietnam war comes to mind - "We had
> to destroy the village in order to save it". Only in this case, substitute
> the term "country" for "village". And since global economies are
> interwoven, the US government is wiling to risk destroying the global
> economy in a misuided effort to "save" it.
>
> They do not understand the concept of "unsustainable&amp... The
> bloated American automakers are unsustainable. The bloated American
> financial industry is unsustainable. And the free-spending, irresponsible
> Federal government is unsustainable.
>
> Every election, the sheeple go to the polls and vote in yet another
> bunch of Republicrats. Einstein's definition of insanity - doing
> the same thing the same way over and over and expecting a different
> outcome - comes to mind.
>
> If you vote for a Republicrat, YOU are the problem.

Wall Street Breakfast: Must-Know News

"The plan, which is in the development stage, would encourage banks to lend at rates as low as 4.5%, more than a full percentage point lower than current 30-year fixed-rate mortgages. Treasury officials believe the plan will halt the slide in home prices as cheaper borrowing allows consumers to take out bigger loans, thereby increasing demand and pushing up home values. "

Oh God, here we go again. Will keep making the same mistake until we learn the lesson. Let the market do its thing and take those prices lower.

Wall Street Breakfast: Must-Know News

Sorry Axelrod I was reading really fast.

Wall Street Breakfast: Must-Know News

Don't be an idiot axelrod. The Democrats are just as much to blame. As is all of our Hannah Montana society. However, if you are the Axelrod of Obama's campaign, your musings make sense; partisan. This when you tell everyone else not to be partisan like you are some kind of great Maximilian Robespierre.

Do agree with your Greenspan argument.

Wall Street Breakfast: Must-Know News

For it is written, I will destroy the wisdom of the wise, and will bring to nothing the understanding of the prudent. Where is the wise? where is the scribe? where is the disputer of this world? hath not God made foolish the wisdom of this world?

I Corinthians 1:19-20

Yes sir, over and over again.

Wall Street Breakfast: Must-Know News

axelrod6008: If I could have my way, the people that helped create this problem would have zero assets. That would mean that a great deal of the world's population would have no roof over their head. The plan that's in front of Congress is the government attempting to preserve what is left.

The government will not allow a run on the banks? Yeah, like the Great Depression, when we had bank holidays, after the damage was done. And the French government couldn't stop the bastille coming down, eventhough they said don't do that. One could argue the run has already begun with Bearns Stearns and Lehman. The government always acts after the infection has taken hold.

Wall Street Breakfast: Must-Know News

axelrod608: "In the P&B (Paulson and Bernake) plan I have yet to hear where the proceeds would go. Wouldn't paying the creditors be a good thing, especially since P&B have repeatedly made the case that their plan is to fix the credit problem ? "

The tax payers, like always, are the creditors. The proceeds, depending on how the reverse auction turns out, could be a good investment. Don't get me wrong. I am for the free-hand no matter what. My belief is that great stress is the only way to change behavior.

axelrod608: "It would be a piece of cake to add a dozen or more judges to the bankruptcy system to handle the additional demand. The cost would be recaptured in the asset auctions. More responsible companies with stronger balance sheets and more conservative executives would buy up the assets of the insolvent companies and put them back to work. And they wouldn't play Lotto with their shareholders' funds."

This problem is global and I believe we are close to a run on the banks. The behavior in the money market accounts and the t-bill yields should give you a clue. People, smartly, have no confidence in the system. Too many lies, too much greed, too many people with great dept levels crying about the government having the same problem. Wow! We have a very sick culture.

Our sin nature makes me collect ammo.

Wall Street Breakfast: Must-Know News

notosmart: Why the pride man? The world will follow us down the rat hole. Look at the sovereign wealth funds; they haven't made good on their investments here. Look at all the foreign banks that hold our government paper. This is global, and while our ship is sinking, they are taking on water also.