xsuddensam

What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup

DollarTalk,

I beg to differ with you regarding your implication that perception, influenced by the media and the election, is responsible for market volitility and the deep pessimism that abounds.

My God, CNBC and Bloomberg (to a lesser degree) have been painting a rosy picture of the market since the highs of last year. The likes of the flag waving Larry Kudlow who has incessantly promoted the "Goldilocks theory of economics" have greatly contributed to the damage. It has only been recently that the talkingheads have finally acknowledged the seriousiousness of our financial problems.

I'm sorry, but no amount of optimism will overcome the dire straits we are in. Optimism in the face of adversity is noble; optimism in the face of calamity his foolhardy.



On Nov 27 02:00 AM DollarTalk wrote:

> I am very thankful for the blessings that I have in my life. Now,
> regarding the market, the power of optimism never ceases to amaze
> me. In fact, we are missing a very large component of our view on
> the market and the economy in larger view when we discount the role
> of perception. Most of this market volatility was brought on by increased
> uncertainty and the perception that our credit crisis and financial
> difficulties were beyond our ability to solve as a free market. This,
> of course, was exacerbated by the media and capitalized on by the
> media in order to accomplish the election of now President-elect
> Obama. Now, the media has their man and would do well to continue
> to promote positive, uplifting views on the future direction of the
> economy and the solutions and people proposed by President-elect
> Obama. Otherwise, they will find themselves in the company of the
> Republican party when the public develops a pessimistic or negative
> perception of the new President and his leadership team. That's all
> for now. More on my blog.

What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup

Those who support bailing out AIG and the rest of the pigs just don't get it. The problem is so big and the resources so inadequate that it's like pissing on a forest fire. The financial system is going to implode from the sheer weight of the Ponzi pyramid. The relevent question is not how we're going to save the system; it's why would we squander our children's and grandchildren's future with this wasteful exercise in futility.

What Obama Needs to Know about Tim Geithner, the AIG Fiasco and Citigroup

The absurdity of the bailouts is that the very people who are directly or indirectly responsible for the CDS Ponzi scheme, as well as those politicians entrusted to be our watchdogs, are the ones trying to solve the crisis.

Common sense tells us that we are paying for a very expensive "Hail Mary" pass to save the reputations of the incompetent political hacks as well as the pocketbooks of the Wall Street crooks that robbed us in the first place.

It's obvious this will not work and they are just buying time at our expense. Unfortunately, where there is so much money involved, there will be more fraud and there will be those who will handsomely profit from our misfortune

Take a Stand Against Government Spending

Trying to solve what is essentially a debt problem run amok by creating more debt is irrational. We need to bite the bullet, let the banks and the weak businesses fail. The government is only delaying the inevitable by propping up these failing institutions with our money.

Does the Auto Industry Deserve To Be Bailed Out?

a.palmer jr:

It's like the pot calling the kettle black. However, the crooks in Washington are flying for free in jets belonging to their corporate masters.


On Nov 22 09:42 AM a. palmer jr. wrote:

> I kinda got a laugh at the Representative who asked the CEO's how
> they got there. It's kinda like the Senators, Sec of State, Pres.
> and Vice Pres. flying around in planes paid by taxpayers when our
> government is trillions of dollars in debt!!

Does the Auto Industry Deserve To Be Bailed Out?

I'm sick and tired of all the cry babies. Management's poor business model and labor's unreasonable demands are primarily responsible for the big three meltdown. If they now can't work it out, too bad. We don't need to subsidize UAW pensions and health plans and we certainly don't want to reward the big three for failure.

Yesterday, the UAW pleaded for a bailout, warning about the far reaching unemployment implications if it is denied. If the UAW is so concerned about keeping these jobs, the union officers should take a pay cut, downsize the union, lower member fees and convince members into making more concessions.

It's about time people standup and take responsibility rather than bitch and moan about their self created problems.

Bail Out Capitalism, Not Detroit

Bailing out the auto industry is just as repugnant as bailing out the banking crooks on Wall Street.

The UAW as well as management can blame themselves for their shortsightedness. I certainly do not want to prop up UAW members' pensions and health plans. Like the rest of us, they should be responsible for themselves.

If they can't work it out, screw 'em!

Cramer's Mad Money - AIG, Show Me the Money (11/20/08)

Yeah Cramer, show me the money.

Unlike many of us who opposed the bailouts, you were at the forefront screaming the loudest for them, crying that the world would end without them. Now you're complaining that the money has disappeared.

You jerk, you should have sounded the alarm before the money was given away!

Time to Dismantle the 'Corporatocracy'?

DJT says:

"Now, I’m no math genius, but when you have a subset of the economy growing much faster than the economy, it points to a super-concentration of risk. Especially when the system is so inter-connected, perhaps the issue is that some companies became too big, ya think? "

Yup, I agree that some companies have become too big, however; you've left out the most important thing: accounting fraud. With size comes the ability to obfuscate and mislead through complex and fraudulent accounting procedures.