herbert hoover

Cuban responds to SEC charges: "I am disappointed that the Commission chose to bring this case based upon its Enforcement staff’s win-at-any-cost ambitions. The staff’s process was result-oriented, facts be damned. The government’s claims are false and they will be proven to be so."

Yeah, Cuban has a point. He's just a pawn. It's obvious how tough the Bush Admiistration has been on illegal Wall Street activity over the last 8 years. LOL!!!

Why we shouldn't bail out the Big Three: "That beeping sound you hear this week is the semi-truck being backed up to the Federal Treasury in Washington. After being filled with taxpayer billions, it's on its way to Detroit."

This must really tick off the people at AIG. That was "their" money!

"Sometimes the crocodile biting your leg isn't the one that eats you. Default is on everyone's mind and deflation keeps economists turning restlessly until dawn. But the risk of inflation should not be ignored while we're nationalizing and bailing out." (Economist)

The Fed knows that the only way to "save" the real estate market is to inflate the money supply thereby raising the prices levels - Who knew that they would be this good at it in so short a time?

Anxiety sweeps the hedge fund industry. One day to D-day.

Now we know why everyonse sold their positions today at 3:45

Consumers Buy Into Disinflation

The Fed's printing presses are running 24/7. Deflation would be an even bigger disaster to the real estate market. The "public" may think there's disinflation but I'm willing to bet that we'll be seeing an inflation rate similar to the late 1970's within the next two years. It's the only way to save real estate.

"This is clearly the best buying opportunity we've seen in a long time," money manager Robert Schaeffer says of today's rally. Volatile? The S&P 500 swung between gains and losses at least 38 times.

LOL - These guys are so predicible.

Astonishing rally off new bear-market lows leaves this blogger speechless. Dow +6.67% to 8,835.25. S&P +6.92% to 911.29. Nasdaq +6.5% to 1,596.70.

Really? You're suprised? The same thing happened last month... and it looked just like today. Will you be surprised when it happens again next month and in January and February too?

The S&P 500 is 'almost certain' to revisit its five-year low of 839.30, JPMorgan says, noting retests occur 86% of the time. Hmm... after dipping below 850 today, this isn't exactly a gutsy call. Where were they last week when it was at 1000+?

When the S&P was at 1000 last week the kids at JPM were telling us that we had hit the bottom and "now was the time" to invest in stocks.

Crude -1.1% to $58.70. Gold -0.5% to $730.

The lower prices don't help the economy much when workers save money not commuting to jobs that no longer exist

House Speaker Nancy Pelosi says General Motors (GM) is too big to fail. She wants 'immediate action' to help troubled automakers, but faces resistant Republicans and a noncommittal White House. (Bloomberg)

Nancy is doing her best to ensure that the Republicans take over the House in 2010

Banks Worried About FDIC Debt Guarantees

We could just let the Fed pickup the fees so that banks get a free ride. Better yet, we could just let the banks make the profits and let the government pick up all the expenses.

American Express Is Now a Bank

I've just declared myself a bank. Can the Fed lend me a couple billion?

"A year ago, I said we won't see a bottom until we see a capitulation," BlackRock (BLK) CEO Laurence Fink says. "We are seeing a capitulation." Meanwhile, Merrill (MER) CEO John Thain sees shades of 1929.

NO, we should think about WHY these guys want us to believe we've hit bottom. . . because then they can sell all the junk they have in their portfolios at a higher price.

Scrooge, aka Taxpayer, Heads for Wall Street

Nope go ahead, pay those bonuses. Then watch the American public revolt if another "bailout" package comes up in DC. It's cheaper in the long run for all us taxpayers if "that best talent" just goes away. They've done a helluva job so far, may as well give em a bonus for screwing up.