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Jackson Cash

Jackson Cash
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  • Robin Hood in Reverse: In Defense of the U.S. Taxpayer [View article]
    "does the author discuss what he believes is the correct alternative and its consequences. Mr. Ehrenberg has not done that."

    Nor have you in your remarks. You are not credible from your first sentence on.

    "The issue here is not the rescue of the investment banks, per se. It is the rescue of of dollar-denominated paper as a world-wide medium of exchange."

    I'm going to throw the bull$hit flag on this wishy-washy statement. The issue here is about fundamental blunders when it comes to old fashioned risk. Wall Street, through the blind oversight of the Fed, Treasury and Congress simply shoveled as much risk as could fit in bags and then stuffed the bags in the attic. The problem is the ceiling collapsed. Now, we're trying to scuttle up something in haste that will only breed more calamity in that it simply protects the rich and elite at the direct and limitless expense of everyone else - worldwide. If you think it purely coincidence that Paulson is running the show you are a fool. This is all about self-preservation of the elite, not dollar delimited paper, nor the obligations it's tied to. The world knows if the dollar fails the rest of the world is in the same boat as us.

    We have a financial hurricane contained at the present and thank goodness. The problem is that America is eating crow for the rest of the world for none other than the problems WE are responsible for and yet no one is preaching that each and every "taxpayer" is a hero at the present -- the problem is that we aren't being compensated for the risk we're holding, nor is it in any bailout plan thus far. My ideal compensation is transparency and simplicity not a government check.

    "If our AAA paper is not reliably worth having, we won't get any of our money back to use to run our economy. So long as we need more credit than we, ourselves can provide through our savings institutions, our national creditworthiness - not just of the treasury, but of our blue-chip investment banks - is a national imperative."

    News Flash: Ray Charles could see that our creditworthiness is and has been undeserved and frankly, the rest of the world finally caught on. If this was a "national imperative" where the hell were you 10 years ago when prudent assessment of risk, transparency and ACCOUNTABILITY was abandoned!? Your silence contributed to the crisis, and don't waste my time trying to play both sides of the issue when you assert preservation of the rich is warranted by socializing losses. THAT'S SIMPLY NOT OKAY.

    We're fat and bloated and deserve all of this, and anyone that thinks that the "greater good" is at hand through ANY bailout is irresponsibly looking short term.

    Here is how to get through this:

    1. STOP! This isn't about Congressional breaks, an election, etc. This is an opportunity to fix $Trillions of dollars in complete leveraged vapor and restore the true "value" of which to base the future on (literally). The "horse is out of the barn" but not out of the pasture. The problem is contained on the backs of every US citizen. The world can thank us later, particularly all the illegal immigrants that obtained a free house.

    2. LOOK! The root of confidence, risk, etc is all about transparency. No one knows what the values of collateral, leverage, etc actually are because of citizen complacency and no one looking. This will take some time to "unwind" to use a buzzword. My advice is to revoke the license of every single appraiser that contributed to the problem, and get new boots on the ground to assess real estate consistent with the long trending average of valuation, not the last 15 years. Meanwhile all those Wall Street "tools" that created the leverage mess can start to unwind it from the top as part of their unemployment compensation obligations. Perhaps unemployment might go down.

    3. LISTEN!! For God's sakes listen not to what IS said, but rather what ISN'T!! All the vague speeches and optimistic assessments of today's situation is all garbage and lies again and again. The American public needs leadership that is talking honestly about the real situation, not some arbitrary warm fuzzy feeling.

    If you the reader consider the endless lies that the current administration is responsible for, perhaps it be noted that they aren't telling the truth this time either; particularly with estimates, AND the way out of this hole. My confidence is based on leadership, and the last eight years have eroded all of my confidence. Whichever party wins the upcoming election need to be the one's addressing this crisis, not the present administration. This includes the removal of Bernanke and Paulson, if not the protectionist Federal Reserve too.

    This crisis has an invisible hand, that even Congress doesn't understand, not to mention Joe/Jane/Pedro Q. Taxpayer, but many on these forums certainly do. There is history in the making for sure, and it's more consistent with mafia dictatorship than patriotism. Challenge your leaders, and LISTEN to what ISNT BEING SAID, note the freedom of which is being stolen by every decision.

    4. PARTICIPATE!! Write your Congressional representation, call them, take them for lunch and for God's sake get involved. This is messy and requires as much insight as possible. Because of the lack of "voice" this crisis was allowed to grow... and now it's a monetary risk pandemic.
    Sep 22, 2008. 11:25 AM | Likes Like |Link to Comment
  • Hank Paulson, Buy-Sider [View article]
    Who is Paulson fooling?! Estimates around $700 Billion are absurd!!!

    This is going to cost TRILLIONS FOLKS!

    Please think about every single lie that this administration is responsible for before you consider the accuracy of $700B.

    I STRONGLY encourage everyone who reads this to notify their congressional representative to vote AGAINST any and all bailouts on this matter.

    Think about how strong the market will become after the crash!!!! Thats the market I want, not some sucker move that Congress is considering.
    Sep 21, 2008. 09:45 PM | Likes Like |Link to Comment
  • New Game, New Rules [View article]
    6. The day that free markets died.
    Sep 19, 2008. 01:19 PM | Likes Like |Link to Comment
  • Today's Federal Action Will Alter the Face of Finance [View article]
    Calling all dumb$hits: Watch out for the "WEAPONS OF FINANCIAL MASS DESTRUCTION!!!" Here it comes...
    Sep 19, 2008. 10:45 AM | Likes Like |Link to Comment
  • SEC Will Ban Short Selling: America's Leaders Break Down [View article]

    What you are seeing is the preservation of the rich at the expense of everyone else - I wouldn't call that terrorism, I'd call that Socialism, and American leadership is simply giving in bending over backwards and taking it in the "you know what".


    Sep 19, 2008. 10:29 AM | Likes Like |Link to Comment
  • Today's Federal Action Will Alter the Face of Finance [View article]
    This is utterly deplorable. Get on the web, find out who is opposing the Congressional "oversight" and donate to their campaigns!!

    Welcome to the Divided Socialist States of America (DSSR).

    Kiss your treasuries goodbye!!!
    Sep 19, 2008. 10:13 AM | Likes Like |Link to Comment
  • The Struggle for Perspective [View article]
    Here is my recommendation for perspective. It's not what experts, junkies, and governments say that matters in crisis -- it's what they DON'T say that scares the hell out of me. For example, even when a room full of banks gets a peek at the crisis, not even COLLECTIVELY will they even engage the problem. The headline might as well read "Satan Himself Seen In Between The Lines of Balance Sheets Worldwide".

    I think there is more risk than all banks in the world put together can handle based on the "action's speak louder than words yet silence authors volumes" perspective.
    Sep 18, 2008. 08:01 PM | Likes Like |Link to Comment
  • Panic on Wall Street - Fast Money Recap (9/17/08) [View article]
    I cannot agree more with the preceding comment. If one looks at "indicators", picture a ROOM full of banks, the fed opens the necronomicon, and every bank says "not a chance in hell". That ought to tell every investor, citizen and unborn that there is an unspeakable monster yet to bust the guts out of the dollar like the first movie Alien. Wait and see, volume is accelerating exponentially -- all we need is someone to pull the trigger and equities worldwide are history! I called DOW at 8500 back in April, but this sucker wouldn't surprise me to end up around 6k in light of acceleration...
    Sep 18, 2008. 02:08 AM | Likes Like |Link to Comment
  • The Housing Slump Rolls On [View article]

    Welcome to the Divided Socialist States of America

    Sep 17, 2008. 10:17 AM | Likes Like |Link to Comment
  • The Nationalization of AIG [View article]
    United Socialist States of America -- move over Russia and China, we're right behind you!!
    Sep 16, 2008. 10:50 PM | Likes Like |Link to Comment
  • Federal Reserve Buys AIG [View article]
    More smoke and mirror rubble scenarios based on speculation. Socialism for the rich, YET AGAIN. Shame on America. Shame shame shame... Unthinkable is simply a term for piss poor monetary policies.
    Sep 16, 2008. 10:19 PM | Likes Like |Link to Comment
  • AIG Is Toast [View article]
    "Whatever is left "un-cobbled" in any arrangement will be covered by yours truely."

    FED BAILS OUT AIG!!!!! * ARGH* Who's gonna bail me out!?

    Sep 16, 2008. 05:19 PM | Likes Like |Link to Comment
  • AIG Is Toast [View article]
    Wipe out bond insurers, then this credit MONSTER can tear through bonds with no end in sight.

    Total Notional Value Of Derivatives Outstanding Surpasses One Quadrillion - an interesting read:
    Sep 16, 2008. 04:13 PM | Likes Like |Link to Comment
  • AIG Is Toast [View article]
    Relax, here comes another short term Federal lending shinanigan by our predictable socialist masters of monetary policy.

    Whatever is left "un-cobbled" in any arrangement will be covered by yours truely.
    Sep 16, 2008. 01:39 PM | Likes Like |Link to Comment
  • History Suggests the Financial Bottom May Be Near [View article]
    "I count ten times this year that analysts have prematurely called for a bottom in the financials and each time buyers have been bitten. We at Lone Peak Asset Management have refrained from making any such calls but it must be noted that this action is different. "

    Are you serious?

    One sentence you're ripping those that call the bottom, the next you build a case supporting that premise. What a joke. You keep thinking that the bottom is near, particularly when the bond markets get swallowed in this storm.

    I'll be expecting the next commentary to reflect 11 false bottoms.
    Sep 16, 2008. 10:10 AM | Likes Like |Link to Comment