Voice of Reason

Not Everyone Is In Trouble

There are many people and institutions to blame. Begin with the little monkey named Bush that has zero creditability and did what he does best, sit on his hands and mumble nonsense like everything is fine. Wink. Wink.. Then you have egg head Ben Bernanke that generates as much confidence in what he's saying as a bowl of cold oatmeal left on the kitchen counter overnight that has been behind the curve from day one and hasn't caught up let alone get ahead of the curve yet. Lets not forget Henry Paulson that seems unable to put five words together without stuttering. Where the hell do we find such idiots and give them so much power and responsibility only to see them fall flat on their faces over and over? Take the handful of fifth graders on the show called Are you smarter than a fifth grader and put them in charge. I doubt they could have done worse. In fact I know they would have done way better.

Speaking of idiots, Congress is front and center. Lets see, some couldn't vote for the original plan because it cost too much so 4 days later they approve a plan that costs over 100 billion MORE!

Then how about the executives at major banks and AIG? One guy smugly confirming, yeah, I got 1 million for consulting correcting the Congressman asking, no, not in a year, each month!

You want to know what's really wrong? Its the crazy "system". Where is it written that it's OK for investment banks, which by the way we don't have any more of, to leverage 20, 25, 30 even 40 to 1?

What kind of crap is it for so-called rating agencies to down grade companies' bond ratings, which drives their stocks lower, which in turn lowers the price more which makes it harder to raise capital which further delutes the current stockholder's equity. What kind of a circus is this?

What moron invented mark to market accounting?

Why did they get rid of the up tick rule?

Why are hedge funds allowed to engage in naked short selling which pushes companies to lose billions in value?

In case you haven't figured it out yet the real problem is confidence.

You can't trust what the president says, or Congress. The Bozos in charge at the Federal Reserve and Treasurary dept couldn't find their rear ends with both hands behind their back. Oh... and guess what, the fat cats on Wall Street and Main Street game the system and no matter what happens walk away with bags full og cash after wrecking companies in business for a 100 years while you see your investments race towards zero.

All that said, you know who the biggest idiots of all is?

Sorry, that would be Joe Average Investor, that's who. Just like in every Bear Market Joe at the very end panics and sells everything. Then Joe Six Pack sits on the sidelines as the market screams back up 20% or more, then gets back in missing most of the move back up.

People never learn.