abelardo

Rick Santelli Takes Down Jim Cramer

great post..

I saw the exchange live. Cramer's "yeah what?" had the tone of someone getting busted. He was.
I am amazed that he doesn't know that his "buy, buy" crap wa all on digital..why deny it?
Because he is a boor.

Nostalgic For ‘Morganization’ in Today's Market

Hi Doug,

You ask "what history book did that come from?"
In fact there is a whole genre of writing from that era that exposed the often inhumane working conditions. The writers were known as "muckrakers," and including both fictional and non fiction accounts. These writings, by arousing public opinion, led to extensive state and federal legislation to correct these conditions.

Google that word (muckraker) and you may be surprised to find that my "dig" is no secret. It is generally accepted that these conditions existed, the same as they apparently do in China and elsewhere today.

thanks for your response to my article.

Big Ben Panics and Gold Responds

I understand your shock at the allowance of high risk instruments as collateral for the Feds repo. It would seem like a great business to be in... give your worthless assets to the government in return for full face value.

However , isn't it true that this are just three day loans and that the collateral never is exchanged, i.e. the hapless banker is still stuck with them.

I hope I am not wrong.

Keep up your good writing.

abelardo