normthefedup

Where's the Bottom? Still Anybody's Guess

Smart man, Lloyd, smart man. The best article I've ever read at this site. Excellent, excellent, work.

This Is Not "the Big One"

Years ago in my youth, I had an elderly neighbor who was a steadfast democrat. Being a young Republican, I couldn't understand his philosophy about politics, the country, the economy, etc. When I sat and spoke with him one day to get a little benefit of his years, he summed up his entire dissertation with one phrase: "I remember Hoover."

When queried about why I became a steadfast Democrat, I hope I have the same conversation with a young Republican neighbor, just so I can make the statement: "I remember Bush."

God bless you Louie, and please forgive me my past sins and doubting you.

Author, I sincerely hope you're holding Morgan Stanley stock. A friggin pile of it. Errors like yours just add gasoline (even at $4 a gallon) to this flaming market. I can forgive mistakes.....not this one.

Financials To Resume Meltdown Momentarily

Nice work Jason. I'm constantly the voice of dissention and usually disagree with these articles as sensationalism. Not this time. Whether or not I agree with your conclusions is immaterial. You gave us just the facts, son, and not too much in the way of conjecture. I applaud your honesty, lack of emotion, and reporting acumen. Kudos to you. I hope I see and will seek many more articles from you.

25 Ways to Tell a Banking System Is Unsound

Thanks Matty, I thought so, too! I guess it all boils down to the effect that comments like these have on the "great unwashed masses" who are currently involved with pennies in the market. Someone above commented about being down $1100. Try $100,000 a day.....all because of commentary that designed to frighten and impress...journalism's version of "shock and awe." I'm tired of it but I'm one very small voice in a very large and noisy wilderness. Thanks for the kudos and have a great day.

25 Ways to Tell a Banking System Is Unsound

Mike, I, unfortunately, agree with much of what you've said.

There's a but.....you, like all the other doomsayers continue to throw numbers around that are, indeed, impressive, but only tend to cloud the issues and reinforce your own arguments.

Case one: "There is roughly $6.84 Trillion in bank deposits. $2.60 Trillion of that is uninsured. There is only $53 billion in FDIC insurance to cover $6.84 Trillion in bank deposits. Indymac will eat up roughly $8 billion of that."

Are you implying that ALL of the $2.6 trillion in uninsured deposits are at risk? Well you are and of course they're not. So don't even use that number. If 1% of those deposits are at risk, that's $26 billion. There's enough money to cover twice that much in FDIC according to your numbers.

That's only one example. I could go on.

I'm, frankly, not going to take the time to argue every point you make. It's fruitless and I DO agree with SOME of them. But I'm really tired of you and your ilk using huge numbers to predict an apocalyptic scenario that is very unlikely to take place. Yes, Fannie and Freddy have $5 trillion in mortgages or whatever on their books. So what???? Again, the vast, vast, vast majority of that indebtedness is with people like you, me, and your readers. We pay our bills. For those that don't, won't, or can't, well, then the rest of us have to carry the burden. THAT will NEVER change.

But the bottom line is: stop sensationalizing a situation that doesn't need to be sensationalized. Give us real numbers that count, use facts that aren't distorted, and stop screaming doom and gloom. We're resilient.

Let me equate what your kind is doing with a hopefully mythical example in your own life: "Y'know Mike, your wife leaves the house every day for at least eight hours.....that's an average of 250 times a year....that's a lot of guys for her to be sleeping with.....are there really that many motels in your neighborhood...?" Reality check: she's very, very, very likely to be at work.

Grow up and cut the crap.