Dirtt

Reasons to Cheer Lehman’s Demise

The " shenanigans in real estate and mortgage- backed securities" go far beyond the CEO's and the "Three Stooges" as suggested by another contributor to Seeking Alpha - two of the "Three Stooges" being Bernanke and George Bush.

Well. Okay. Either that contributor is the tail end of the election manipulation that is at the core of what almost no one is willing to acknowledge or his hubris ranks right up there with the Harvard and Yale genius that designed the 'house of cards' falling from (false)grace. Good work chaps (or is it lads). I could have found someone from Cal State Northridge who could have created this 100-year calamity FOR FREE and in less time.

Would the employment of an independent regulator of the GSE's in 2006 have curtailed the malfeasence yet to come home to roost?

Who installed the lobbyists in upper management at the GSE's?

Why were the GSE's donating soft money to influence congressional elections? And why did the GSE's feel compelled to influence anything at all let alone elections?

And the "three stooges?"...Your contributor failed to include Jamie Gorelick, Frank Raines and Susan Molinari not to mention a former FBI hack. That's four excluding Bernanke and Bush. Shall we begin to tally up those in Congress. If we add the list IBD just compiled of RNC & DNC looters then three DOZEN doesn't even scratch the surface.

Mr. Morici is right about the collateral damage. But what about the root of the malfeasance.

Who in the hell would put lobbyists in control of an operation which demands experience in finance? And why can Barney Frank speak publically about matters that the SEC would normally find dubious if not flat out illegal?

America is waking up because a few true patriots remember 1764 and the commencement of the Taxation Without Representation grass roots movement. Centuries later we are no better. REVOLTING.

Barron's Goes Bullish on Banks, Again

Barry Ritholtz poses the question when did three major publications announce "coincidental bottoms?" Not sure but...

The Harvard Economic Society is quoted as follows:

on Jan 18 "...there are indications that the severest phase of the recession is over..."

on Apr 19 "... the outlook is favorable..."

on May 17 "...by May or June the spring recovery forecast in our letters of last December and November should clearly be apparent..."

on June 28 "... irregular and conflicting movements of business should soon give way to a sustained recovery..."

on August 30 "... the present depression has about spent its force..."

But wait. August 30? It's still July. Ahhh. But is it 1930?

credit to gold-eagle.com for the quotes. It would be entertaining if it weren't so pathetic and serious.