sether

The Road to Economic Hell

Is this Roger Ailes?
Roger you forgot the Homos and Hollywood.

On Mar 05 09:03 AM patio wrote:

> It's far worse than you desribe. Obama, Pelosi, and Reid are using
> this crisis to cram through massive gifts of our money to their cronies
> ( ACORN; unions; you name a dem voting bloc, they get a payoff ).
> That's jsut the porkulus. Then they are putting together a multi-year
> spend and tax budget aimed at crippling our economy for decades,
> and solidifying power. They are targeting small and big business
> alike; they are still using the phony global warming scam ( exactly
> how cold, for how long does it need to get before the media pokes
> their head outside???) to target oil and gas; the list is endless.
>
> The sheeple are being led into socialism, and they are seemingly
> clueless.

Why Capping Pay Is Likely to Work

I understand your point about booting talent from firms we now 'own'. I was just ranting macro a little. I think the govt is in this for the long term though, and is likely unconcerned about immediate further deterioration and would be happy with several years of stagnation. I think there will be heavy regulation instituted, in part to restore confidence in the markets and financial institutions in general. Under those conditions, the high rollers will indeed be gone.


On Feb 04 03:21 PM Robert Perrego wrote:

> Actually they are different people. I stated earlier that the rainmakers
> are who I am talking about - the investment bakers, brokers and traders.
> Not the CEO's, CFO's etc...
>
> This entire mess is from the mortgage derivative area, and you might
> remember Fannie and Freddie (The government) had a lot to do with
> this.
>
> What Obama is proposing is to limit the people who WERE making a
> lot of money for the firm and being paid to do so as a result of
> the derivative quants on the mortgage desks. Punish them all right?
>
>
> And the result will be that those working at these banks that were
> making the banks a lot of money will simply leave and then what will
> our TARP banks have?
>
> No money from derivatives (dead business), no money from mortgages
> too, and a lot less money from the investment banking, trading and
> brokerage functions.
>
> I am sooooo glad my taxpayer money is invested in an idea that looks
> set up for failure from the start.
>
> Pissed off is fine. I am pissed off these quant derivative freaks
> and politicians that let Fannie and Freddie run amok is kicking the
> economy's ass (I am working in the internet sector by the way - was
> on Wall Street for 14 years so you are correct) It is just that when
> you want to punish someone, then punish the wrong people, and then
> punish yourself because you are being irrational - now that is just
> plain stupid.

Why Capping Pay Is Likely to Work

Stop making bets and putting me on the hook when they go bad. And don't tell me that other activities of I-Banks are profitable. It's only a matter of time before the best 'talent' works those rackets as well. When they go bad, do I have to pay that off as well? Profits=private : Losses=public.
I ask you again, How has anything that any investment bank has ever done, ever benefitted me, or the vast majority of people in this country? You don't get it. The whole paradigm is bankrupt, man. Moving, lending, and speculating on money that doesn't exist is not a legitimate or viable enterprise.


On Feb 04 02:17 PM Robert Perrego wrote:

> Poor baby. i bet the banks got up each morning and thought about
> you.
>
> Stop playing roulette then.

Why Capping Pay Is Likely to Work

The Yankees have not won in 10 years because they are composed of a bunch of overpaid, 'roid-shooting mercenaries, with no concern for anything but their own bottom line. In that sense The Yankees, and most of baseball, is like Wall Street. How about teams like the A's, and Tampa Bay? Good clubs who have built up talent through their own farm systems and prescient trades. As soon as anyone gets too entitled, they can go extort the Yankees or Sox. Same thing should happen to all that fabulous 'talent' on Wall Street, once we regulate the sh*t out of it. Maybe that will leave us with a functional market, chugging along, that people can trust if they want to, or can count on to stay the hell out of their lives if they don't. I suppose that will cramp your high-rolling trader lifestyle, but to hell with that. Go buy some scratch tickets if you miss the adrenaline.

On Feb 04 02:08 PM Robert Perrego wrote:

> OK - you buy the New York Yankees - a historically winning franchise,
> cap all the salaries and let all your best players leave.
>
> What do you have left? The Kansas City Royals. And then it takes
> years to rebuild by waiting for players to come back on the market
> and back to your team. it's not like these producers grow on trees
> or are mid-level talent.
>
> This says that the government is buying into these banks and destroying
> their business models.
>
> Not too smart.

Why Capping Pay Is Likely to Work

Yeah and I made $200 at craps, blackjack, and slots last week, but I lost my house playing roulette. Oh yeah, I also lost my neighbor's house.
What has any investment bank ever done for me? Please educate me. I think I understand what they have done TO me.


On Feb 04 01:56 PM Robert Perrego wrote:

> Whats wrong with you? One area of the finance puzzle lost money -
> mortgage derivatives. The equity trading (and in Goldman's case the
> bond trading), brokerage and investment banking businesses made a
> LOT of money. Take away the talent here and you have even bigger
> losses. Read a little, educate yourself, then open your mouth.<br/>

Why Capping Pay Is Likely to Work

How about the execs are allowed to walk away with their lives. These are failed companies. The execs are leaders in failure. These companies are financial black holes at this point, hyper-concentrated focii of loss, debt and insolvency so potent that they threaten to suck the entire economy, the dwindling health of a nation, down into their vortex of bankruptcy.
So their financial crack smoking has now involved me and my children, and every citizen of this country (and the world), by force.
On second thought, OFF WITH THEIR HEADS! Seriously. Maybe they don't realize people feel this way. Neither did Marie Antoinette.