drmalaka

It Wasn't a 'Bailout'

Keep living in your dream land that this was not a bailout. The US taxpayer is footing the bill for this in the form of $30 billion in loans to cover Bear's potential losses.

Bear Stearns did not get bailed out but tons of other people did. What about preferred stock holders and bond holders? How come they get their money back while the taxpayer foots the other bill? What about the counterparties that Bear did business with, they got their risk guaranteed by the taxpayer? What about the rest of the banks that are being propped up now by the Fed and their scumbag partners keep taking billions in bonuses?

This is an entire bailout of the banking industry by the US taxpayer. To save these low life thieves every single American taxpayer is now on the hook for this debt.

The bottom line is that all these banks' actions are being covered by the taxpayers again. We have lowered interest rates explicitly to save the banks. The net result is that prices are skyrocketing for all our expenses. The banks live and the individual pays for it in higher prices.

Symantics as usual, sure Bear was not bailed out, the entire banking industry was bailed out. And everyone reading this, you are the ones paying for it.

Should we start taking bets on the next bubble these douche bags will be involved in. The government needs to sieze the bank accounts of all the bankers who were involved with this fiasco and recapture that money for the American taxpayer. Instead these criminals have lost there jobs and have to spend their entire days doing nothing but hanging in their Hamptons houses and driving their Mercedes around.

The Coming Crash of 2008: A Result of Overleveraging

Judging from these comments I could not be happier being short. How come everyone is looking for a bottom six months after the top? The top was completely artificial, based on historically high PE ratios and net profit margins.

Stop looking for a bottom in these financials, these are criminal enterprises that stole billions of dollars from their shareholders and to think about investing in them is rediculous. The Fed told us yesterday that they will save the markets but they will not save equity investors in these crappy companies.

This is the same idiotic attitude everyone took with ABK, every other Friday there was a new rumor, first one sent the comapany to 12.5 the next one sent it up to 11.5 and now it below 6.

This economy is a mess. We Americans are a joke. We have spent so far above our means that we have no way to go but down. How many idiots took equity out of their house to buy a new Hummer with 22" wheels? Everyone in this country thinks they are entitled to live this incredible standard of living, flat screen tvs in every room, new lap tops, new cars every three years. Then we look to the government to bail us out. Where the hell do we think the money is coming from? Cool, we tried to help this recession with a stupid 150b stimilus package that we billed to our kids.

For all you bulls who have found a bottom, what makes you think consumers are going to be spending a lot in the comming months? With what money? With the money they have to spend on high priced gas and food because our Fed keeps inflating our every day expenses to save these criminal bankers who should probably be lined up against a wall and executed?

I have been praying for years to see $5 gas, I just can't believe it happened so quickly. There is nothing more satisfying to me than seeing the look on the faces of people spending $100 to fill up their SUV that they drive around in alone.

And for the economic illiterate that said if Obama gets elected then we will be in better shape. Please drop me a line, if he gets elected I would like to sell you all my stock. Yeah, a socialist is going to help markets. Taxing corporations and capital is the way to spur an economy on. Hmmm, who can do better with capital, smart people who made the money, or lazy, stupid, economically illiterate leaches that suck off of society?