Roger G McCorkle

Wall Street Breakfast: Must-Know News

On Apr 14 09:37 AM marketman54 wrote:

> At least GS doesn't have any toxic mortgage assets, but what about
> toxic credit defaults swaps?
Nope! They sold all the mortgage backed paper to their customers, to help with the "Customer's Yachts."

Wall Street Breakfast: Must-Know News

Greenspan read Atlas Shrugged and put it into action.[His first published work was a response in the NYT Book Review to a less than worshipful review. He spent years as as paid speaker for Ayn Rand's Nathaniel Brandon Institute.] The current mess is a result of ATLAS SHRUGGED idiots at the helm.


On Nov 24 10:00 AM outofchips wrote:

>
> 1. Institutions that make loans must retain responsibility for the
> loans. The loans and the associated risks/rewards can't be bundled
> and passed on to other agencies for investment purposes.
> 2. Pass laws that make individuals responsible for their actions.
> For instance, people who borrow money should be aware they have to
> pay it back or there will be unpleasant consequences. Of course,
> people who borrow should be made to realize how the loans are structured.
>
> 3. NEVER allow solutions that are constructed at the expense of the
> people who are not responsible for the problem. People who faithfully
> make their loan payments should not be penalized for those who do
> not, just as people who exercise, watch their diet and weight, and
> take care of themselves should not be penalized for those who do
> not take care of themselves. Never reward the people responsible
> for the problem at the expense of those who were not.
> 4. Be grateful for high achievers in our society. Respect them. Appreciate
> them. They are the ones who invested extraordinary amounts of time,
> energy, treasure, and sweat that has resulted in our having so much,
> and they pay most of our country’s taxes.
> 5. Read ATLAS SHRUGGED.
> Peter Bennett

Wall Street Breakfast: Must-Know News

[Watched Murdoch]"...fantasize about the staff's quitting en masse as soon as he entered the sacred temple."

I don't think that anyone could think that Rupert's dreams about the NYT could have anything to do with money. This is only about ego and his hopes of destroying a paper that expresses things that differ from his perception of the world as "it should be."

Wall Street Breakfast: Must-Know News

"Conversely, the spread between GDP and GDI (gross domestic income) is the biggest in the post World War II era, which may signal talk of an economic recovery is premature."

This rather brings to mind Henry Ford's comment that "The workers have to make at least enough to buy a Ford."