satguru

Was the AIG Bailout a Goldman Bailout by Proxy?

All I can say is the beat goes on. The more things appear to change, the more things remain the same. Look for the next bubble - CAP and TRADE! And who is going to be in the center of this? Guess!

Bring in the Antitrust Division (on Banking)

Agree with American Citizen on this. Goldman talking sh't after the TARP and the billions they got thru the back door from AIG for their bailout through Paulson. If they can pay all the money back then they can walk. This whole bailout of AIG was to save Goldman. Everything about this financial collapse is about Goldman.

Barron's Is Way Off Base Regarding Mark to Market

Mark-to-market is the the only way to value everything. If you don't have any market i.e. nobody to buy what you are selling, there is no market value. Only when you have a buyer do you have value. I don't understand these pseudo financial intellectuals.
I had my house on the market in 2007 for $750,000 and got no buyers for it but there were other similar homes that had sold for about that price. I dropped my price to $699,000 a few months later and still no buyers so I pulled my house off the market. Right now the value has been set at about $500,000 since two homes in foreclosure sold for that price. Nobody will pay me $699,000 or $750,000. Right now the market has set it at $500,000. This is the problems with banks. I still in the back of my mind think the house is worth more but I know it is not. My only choice is to wait it out until house prices go up but I have the luxury of time which the banks don't. I can hold on to it forever. If the house goes on foreclosure the bank can either mark to market and sell or hold on to it. What's so difficult with this concept.

Foreclosure Moratoriums: It's Time to Get Real

What you are saying then it's ok to bailout the banks, the investment bankers, the insurance giants with the taxpayeer money. It's also ok to provide farm subsidies. It is also ok to provide tax writeoffs and lower tax rates for the rich. It's also ok to spend trillions to fight wars wih phatom enemies through lies and deceit. BUT NOT OK TO HELP NEEDY AMERICANS. The mess we are in was not caused by the sub-prime borrowers. It was caused by the derivatives !!!! Who created these? Joe the plumber? We have a worldwide depression and you blame it on the U.S, sub-prime borrower? Tell me honestly, how much is the total sub-prime mortgage market in dollars and cents is the total and what percentage of it is in foreclosure? You will get the answer in the stupidity of your blame!!!


On Feb 15 01:50 PM Tricky wrote:

> > I don't fully understand the reasoning behind the objections here.

When Bonuses Aren't Discretionary

My question is why these people get paid so much - $95,000 to $250,000 as quoted in the article and on top of that bonuses. What the hell do they do? And they complain that is not enough? It amazes me by the statement they can't sent their children to private schools? All my kids went to public schools and all graduated with honors and went on to public univerities and graduated with honors from them too. What is wrong with that?
And these bankers create this financial crisis, get billions in our taxpayer money and then want a bonus for craeting this carnage. What did they learn in these private schools - cheat, lie and steal and get a bonus????

The Bias in Reporting Job Losses

I thought that unemployment figures are based on working people losing their jobs. What has birth rates got to do with employment. Babies are not employed many years after birth. Death rate would affect unemployment figures only for people who are employed and dies. The government are bogus because they do not include people who have fallen off the unemployment roles when it expires. They do include part workers who should be called fractional workers and allotted a fractional number as being employed.
On the point of new jobs being created offseting the ones that are given the pink slips, I beg to differ. If this was the case we would not see so many businesses shuttered. Look at Circuit City alone, over 600 stores being shut down, Linen'N Things, the shuttered Wall Street Investment banks, the banks and brokerages and the list goes on and on. All I can say from personal experience from my own close family members almost 40% have been given notices of layoffs or their hours cut or cuts in pay.
These are unprecedented times and the govrenment stats are bogus - I worked for the FEDs and we were ordered to make numbers reported
make the General for the base look good- and guess what it always did!
Look at all the home foreclosures - it's all the result now of people losing their jobs. We are in a state depression not a recession.
God help us all.
On Jan 29 02:07 PM canonicalman wrote:

> The population of the US grows by about 2.7m/yr which is about 0.9%/yr.
> This means that the total number of jobs must grow each and every
> year by roughly that same fracti8on. This is another reason why jobs
> number are misleading. Even if the net jobs number stays even, this
> means an effective rise in unemployment because the new jobs for
> the new workers were not created.

Stock Buybacks: Where Did They All Go?

An extremely good observation. All of us are wondering the same thing. Where is the management confidence or do they know something we don't? Also why aren't the employees and management buying the company stock?

Orwellian Finance: Is 1984 Happening in 2009?

You, my friend, are a classic example of apathy - you know and you don't give a damn as long it does not affect you!


On Jan 19 02:54 PM patio wrote:

> What is the difference between ignorance and apathy?
> I don't know and i don't care.

Orwellian Finance: Is 1984 Happening in 2009?

Mr. Quinn, most eloquent article. You took the words out of my mind which I don't have the capacity to put on paper. Someone said in one of the comments that it is ignorance on the part of most of the people. I feel it is in a way but it is more than that. More apathy then ignorance. As long we are not touched directly we do not respond. Even with the true unemployment numbers at 25 to 30% the other 70 to 75% are not really directly affected. This is what apathy does. The majority of people are not directly affected. We still live in our nice homes, drive around in our fancy cars, eat in fine restaurants, go on vacations - we will remain apathetic!! Sad but true. Just look at the rest of the world and look at us Americans. We are lavish compared to others in the world. But I think think the winds of change are in the air and I don't mean Obama!

Stimulus Plan Includes Tax Breaks: Stocks That Will Benefit

What change??? The beat goes on??? I voted for Ron Paul. All of you deserve what you get. You get who you vote for.
The more things change, the more things remain the same.

First Call of a Double-Dip Recession: Setting Up a Market Bottom?

Can anyone explain to me why we need an appraiser? Why not look at the sales comps for the location? Or if there is an offer on a property and the buyer and seller agrees on the price, would not that be the value of the property? The mortgage lender then has the option to say I will only loan you 'this' amount, and the buyer will then have to make the difference based on the agreed sale price - otherwise no loan!

2009 Outlook and Beyond: Let Truth Be Your Guide

Perhaps the writer needs to live by the truth first. It is always in a Republican administration that all hell breaks lose. He says why blame Bush. Hell! it was on the Bush watch that we had 9-11, it was on the Nixon watch we had the oil crisis in the 70s, it was on Reagan's watch we had the huge budget deficits, it was on Bush Sr's watch we had the Savings and Loan debacle and now this on Bush Jr's watch. SO cut your BS!!! We are in a heap of trouble and it will take years to unwind. WE DON"T NEED ADVICE FROM YOU WINDBAGS!! JUst a bunch of money grabbing hypocrites and a hypocrit is worse than a liar!

The Illicit Relationship Between Goldman Sachs and Paulson

And what does knowing the truth do for us? Nothing! nada! The crooked beat goes on. Now Paulson will get the rest of the 350 billion and guess what? He is going to get it to divy up among his co-conspirators. For the 17 billion for the auto industry he is going to get $350 billion. Done deal!

Cramer's Stop Trading! General Electric Brings Bad Credit to Light (12/18/08)

Hear! Hear! to "Thud". All analysts and ratings agencies should be banned. They are just a waste of time and money. Absolutely worthless!!

Bush Speaks! Evildoers To Be 'Persecuted'

I fell sorry for Mr Bush. I think in normal circumstances hewould be a likable guy but all this is way over his head. I just wish him good luck and God speed.
Did I hear correctly that 'evil-doers will be persecuted'. Be careful Mr President, be very careful what you ask for, you may get it.