gooter's Comments RSS Syndication from SeekingAlpha.com http://seekingalpha.comuser/324673/comments http://seekingalpha.com/article/178970-rising-skepticism-in-gold?source=feed#comment-814727 814727 Sun, 20 Dec 2009 14:57:15 -0500 http://seekingalpha.com/article/176518-more-thoughts-on-gold-and-inflation?source=feed#comment-789862 789862 Fri, 04 Dec 2009 07:40:47 -0500 http://seekingalpha.com/article/158923-gold-four-reasons-to-expect-september-gains?source=feed#comment-652221 652221 Sat, 29 Aug 2009 09:59:07 -0400 http://seekingalpha.com/article/149919-invest-in-gold-to-hedge-against-hyperinflation?source=feed#comment-595894 595894 Mon, 20 Jul 2009 20:24:05 -0400 http://seekingalpha.com/article/149583-additional-thoughts-on-gld?source=feed#comment-594225 594225 Sun, 19 Jul 2009 17:38:53 -0400 http://seekingalpha.com/article/144347-9-cures-for-gold-fever?source=feed#comment-556799 556799 Sun, 21 Jun 2009 21:38:33 -0400 http://seekingalpha.com/article/130228-8-reasons-etf-investors-go-for-the-gold?source=feed#comment-459742 459742 Sat, 11 Apr 2009 07:50:37 -0400 http://seekingalpha.com/article/127012-1100-tonnes-now-in-the-gld-trust?source=feed#comment-434381 434381 GLD) a cheesy piece of worthless paper, I'll happily buy it if I can sell it at a good return, regardless of how a bug feels about it. ]]> Sat, 21 Mar 2009 09:49:01 -0400 GLD) a cheesy piece of worthless paper, I'll happily buy it if I can sell it at a good return, regardless of how a bug feels about it. ]]> http://seekingalpha.com/article/116845-gold-is-overbought-time-to-short-barrick?source=feed#comment-368102 368102 Tue, 27 Jan 2009 18:26:08 -0500 http://seekingalpha.com/article/112892-what-do-we-need-in-2009-more-failure?source=feed#comment-343232 343232

On Jan 01 08:34 AM Crocodilian wrote:

> "But Bailout Nation doesn't believe in failure so much anymore."
>
>
> Not clear that that is a true statement. We've had lots of corporate
> bankruptcies, but our system has assumed system-wide leverage that
> was not ready for a severe stress. Add to that, the painful reality
> is that we don't have the systemic resources to process a major failure
> -- say, a GMAC or WAMU.
>
> If you want to "make room for failure" in the system, the system
> architecture needs to be robust. Venture backed firms go bust all
> the time; but they are funded with equity, not debt, and nothing
> much bad happens when a startup become a shutdown. Paradoxically,
> we give significant tax incentives to debt (which is payable out
> of pre-tax income) over equity (which pays dividends out of after
> tax income); we should not be surprised that a whole financial industry
> developed to replace equity with debt. More equity and less debt
> would leave us more room to let things fail.
>
> Second, financial institutions have to be designed to, as software
> architects say, "degrade gracefully". Institutions like the investment
> banks degraded catastrophically-- pull one thread, somewhere in the
> system, and they rapidly fail. Not only do they fail, but as we saw
> with Lehman Brothers, they fail in a way that threatens to force
> the failure of their entire web of business counterparties.
>
> Third, there should never again be such a thing as an "implicit guarantee";
> obligations need to go on the books as explicit, or stay off the
> books and be disclaimed. The bizarre chimera structure of the GSE's
> was a most pernicious contributor to a system that was ambivalent
> about failure.]]> Thu, 01 Jan 2009 09:14:04 -0500

On Jan 01 08:34 AM Crocodilian wrote:

> "But Bailout Nation doesn't believe in failure so much anymore."
>
>
> Not clear that that is a true statement. We've had lots of corporate
> bankruptcies, but our system has assumed system-wide leverage that
> was not ready for a severe stress. Add to that, the painful reality
> is that we don't have the systemic resources to process a major failure
> -- say, a GMAC or WAMU.
>
> If you want to "make room for failure" in the system, the system
> architecture needs to be robust. Venture backed firms go bust all
> the time; but they are funded with equity, not debt, and nothing
> much bad happens when a startup become a shutdown. Paradoxically,
> we give significant tax incentives to debt (which is payable out
> of pre-tax income) over equity (which pays dividends out of after
> tax income); we should not be surprised that a whole financial industry
> developed to replace equity with debt. More equity and less debt
> would leave us more room to let things fail.
>
> Second, financial institutions have to be designed to, as software
> architects say, "degrade gracefully". Institutions like the investment
> banks degraded catastrophically-- pull one thread, somewhere in the
> system, and they rapidly fail. Not only do they fail, but as we saw
> with Lehman Brothers, they fail in a way that threatens to force
> the failure of their entire web of business counterparties.
>
> Third, there should never again be such a thing as an "implicit guarantee";
> obligations need to go on the books as explicit, or stay off the
> books and be disclaimed. The bizarre chimera structure of the GSE's
> was a most pernicious contributor to a system that was ambivalent
> about failure.]]> http://seekingalpha.com/article/112485-financial-meltdown-good-luck-bad-luck-who-knows?source=feed#comment-340688 340688 Mon, 29 Dec 2008 13:19:30 -0500 http://seekingalpha.com/article/112209-cramer-s-lightning-round-the-most-dangerous-stock-for-2009-12-23-08?source=feed#comment-339210 339210 Sat, 27 Dec 2008 09:21:25 -0500 http://seekingalpha.com/article/112186-enlightening-the-gold-bugs?source=feed#comment-337391 337391 Wed, 24 Dec 2008 08:49:25 -0500 http://seekingalpha.com/article/112024-why-i-see-long-term-deflation?source=feed#comment-336451 336451 Tue, 23 Dec 2008 08:48:46 -0500 http://seekingalpha.com/article/112006-as-good-as-gold?source=feed#comment-336435 336435 Tue, 23 Dec 2008 08:24:33 -0500