User 265729

Getting Past the Panic

Vinny,

Nice to see you outside CNBC. How's your buddy Cramer holding up under the stress?

Smarty_Pants, Has anyone thought of selling them on Ebay? I mean, if someone would buy a piece of toast that looks like Jesus, there must be a market for all of this bad paper.

Buffett is often used as a "showcase" by confidence-builders to continue to buy into the Wall Street pyramid scheme that is going on right now. There maybe a short-term sucker rally after the bail-out, but it is not sustainable. Then we will really be screwed...

Has anyone thought to take a moment to reflect on the Mack-Mae bail-out? What happened? P & B went in there bazookas blazing then started to go through the books. Didn't take them long to figure out, they were really screwed... I predict there will be something similar on a grander scale.

Consider the fact that central banks are throwing in almost $100 billion dollars a day globally to free up credit without results. This bail-out buys SEVEN BUSINESS DAYS. Then what? Do Bush and Paulson go back to the rubber-stamp Congress for another $1trillion and tell all of us one more shot and it will work? Banks are refusing to budge in Europe with the infusion of over $100 billion -- the problem is so bad the OECD is going to sit all of Europe down to come up with something.

If Warren Buffett or Jimmy Buffett wants to buy into this risk, that's the American, free market way of doing things. To have Congress drag every man, woman and child onto the Titanic, I have a problem with that.