apppro

The BofA / Merrill Mess - A Misguided Mob Goes After the Wrong Guy

And of course you found more of the WRONG people to blame. I am still waiting for someone to blame the handful of people that broght down: Ambac then MBIA then Beare then Fannie & Freddie then WAMU and then finally what brought it all down LEHMANS. AIG followed, but the damage had been done.
One by one they were picked off by rumorboarding, naked shorting and abuse of M2M.
When do we finally place the blame of that hanful of shorts that brought it all down.

Feds Balance Opposing Sides While Large Bank Stocks Fall

the rally stalled because of worry, yeah the shorts started to worry they were loosing control. maybe yes - maybe no. in either event we all just might as well close the borders and put an "out of business" sign up until everyone realizes that short sellers and this market decline are not our friends.
what should everyone do:
Sell all their assets, and
Buy short positons in everything, and
Then wait till the entire economy and stock market go down the tubes, and
Then cover their shorts, and
Then live off the gains.

You people are jokes. This Bear market exists only because we allowed shorts to successfully lobby the SEC and FASB to change rules so that "The Shorting of America" could proceed with ernest.

Deplorable! Just deplorable!

Don't Blame Mark-to-Market for This Crisis

Those leveraged investments were done so that all the rest rest of our piggy selves could buy that 3rd flatscreen or 2nd SUV. We all pigged out, but for a few dickheads to destroy those leveraged assests, just to come back and buy them back on the cheap - now that is creating a false reality.


On Mar 12 07:13 AM untiringeagle wrote:

>
> One root cause is Hedge funds, Investment Banks, Insurance companies,
> and other speculators who had to sell the best assets (or stocks)
> that they held in order to cover margin calls on risky, leveraged
> investments that their computer models showed to be perfectly "reasonable".
> Now, to cover their "assets" they want to re-write the rules of accounting
> and physics. Talk about experiencing separate realities!
>
> On Mar 12 06:54 AM apppro wrote:

Don't Blame Mark-to-Market for This Crisis

No, I don't blame M2M. I BLAME ALL THE SHORT SELLERS WHO RUMORBOARDED, NAKED SHORTED, & GANGSHORTED every major company by USE OF manipulated prices on various financial instruments (CDO's are just 1) achieved by overly exagerated scenarios that caused the collapse of prices and exagerated M2M!!

That's who I blame.

Misunderstanding the Great Recession

The 4 Golden Rules

1. Reinstate the Up-tick rule

2. Crack down on naked short selling

3. Institute some rules on what should be said on National TV to prevent rumor-mongering

4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive to 01/01/08.

Misunderstanding the Great Recession

And Then:

1. Take a small amount of that ‘Rescue plan’ = maybe 30 billion and buy back the CDO’s of the muni bond insurers (Ambac, MBIA) – RIGHT NOW! Recapitalize them, as Sec. Dinallo of NY wanted to do 2 years ago.

2. Have the FED give an implicit guarantee to ANY NEW insurance policies written on the bonds. Basically guarantee the bond’s triple A, not the policy or the company. Doesn’t cost a nickel.
3. *****Have the Fed could kick in an incentive for any bonds issued for Capital Projects to help with employment and infrastructure. DOLLAR 4 DOLLAR STIMLUS. Bigger bang for our buck AND it gets the private sector back involved.
>>>>>&g... the municipalities can issue bonds and BUILD.. BUILD.. BUILD. Puts people back to work. Pays our bills, etc. We need the bond insurers restored back to normal and we need it now. Solves ALL the issues at little or less costs.

Misunderstanding the Great Recession

I guess if you want, you could go back to 1946 to find more examples of weakness in the economy that caused the recent stupidity. Hey, why not go back to 1776! There will always be excesses in a capitalistic system. It’s just HOW we allow our financial markets to deal with those excesses is the question, and inevitably the answer.

Yes, there were many of us that over did on things. There was greed galore, but there was NO reason for it all to end in 4 months and with such devastating results. Much of the current crisis was caused by the total lack of confidence in our financial system, just like the prisoners at Gitmo, you ‘rumor-board’ and beat down a Company, and sooner or later that company will break. What’s worse is that it may take months – years – maybe never to get that confidence back. Short sellers had The Perfect Storm of:

1. Elimination of the Up-tick Rule in July ‘07
2. Bill Ackman’s ability to rumor-board everyone that the CDO’s being held by the monolines were WORTHLESS and not just WORTH LESS,
3. Mark to stupid market. Asinine!
4. Add to that ridiculous oil prices
5. And hysterical media coverage;

And the underlying psychological rule that FEAR is a far greater emotion then greed, well you had the underpinnings of what we have now. The recent financial silliness is only this bad because we allowed a few short sellers to drive their pessimism down our throats, to prove their point and cover their positions.

Put the blame where it belongs!

More on TARP and the Insurance Industry

A paln that WORKS for allof us:

Take a small amount of that ‘Rescue plan’ = maybe 20 billion and buy back the CDO’s of the muni bond insurers (Ambac, MBIA) – RIGHT NOW! Recapitalize them, as Sec. Dinallo of NY wanted to do 10 months ago.

Make sure the ratings agencies then immediately upgrade the ratings back to AAA, which they said would happen. Then come up with a universal set of rules that those agencies must play by.

Have the FED give an implicit guarantee to ANY NEW insurance policies written on the bonds. Basically guarantees the bond’s triple A, not the policy or the company just the bond until new triple A can be found. Doesn’t cost a nickel.

Have the Fed could kick in an incentive for any bonds issued for Capital Projects to help with employment and infrastructure.
NOW the municipalities can issue bonds and BUILD.. BUILD.. BUILD. Puts people back to work. Pays our bills, etc. We need the bond insurers restored back to normal and we need it now. Solves ALL the issues at little or less costs.

FBI Investigates Victims of the Financial Fallout

All I know is, is that it makes me vomit to see everyone bashing the CEO's (and I'm not thrilled with them either) and companies, when the true villians here are getting away scott free.
Criminal - just criminal.

#4. Implement a WindFall Capital Gains Tax of 65% on ALL SHORT SALES retroactive to 01/01/08.

FBI Investigates Victims of the Financial Fallout

Even the FBI misses the point. True, the crisis comes from the destruction of the CDO/mortgage market, but what was the cause of that market’s collapse.
Yes, there is plenty of blame to pass around, but until short sellers attacked the CDO market so they could take down the monolines backing those CDO’s, there was no crisis.
The FBI, SEC, DOJ would be better off investigating Pershing Capital and Bill Ackman to find out the true cause of this current market melt-down.

It should be side-noted that NOW everyone is saying that all those mortgages and CDO’s will make the Government a profit when they buy them. Gee whiz, I thought Ackman and others has made us all believe that they were worthless. And I mean worthless – not worth less.

#4. Implement a WindFall Capital Gains Tax of 65% on ALL SHORT SALES retroactive to 01/01/08.

Buffett Warned Us in 2003

Yeah great for him, but what has he done to help? Nothing..Squat..Zero.....
The only thing he can do is have interviews with Becky Quick telling everyone how great, but humble he is; or offer (as he did last year for Ambac) to buy a company for a penny on the dollar. I guess you could argue that in some cases, like Lehman, that would have better off then it is now.

Buffett! Don't get me started!