Glen L.

Fannie and Freddie: The Gifts that Keep on Giving

<<Great Idea. lets wind them down within the next 6 months. what you going to put in their place. maybe nothing, since you suggest nothing. no vague pie in the sky, send the loans to wall street. act like a grownup for a change instead of a bomb thrower, and present a real road map.>>

That's right, wind them down to nothing. Run a stake through their hearts. Destroy these vampires before they suck ALL the blood out of the taxpayers' bodies. Then get out the torches and pitchforks and go after the Dr. Frankensteins (thank you, Craig) in Congress who keep the zombies alive.

Citigroup to Increase Common Stock, Government to Reduce Spending - Are They Serious?

First, great article, sarcastic and funny, thanks ED.

I basically agree with dcb, but the solution is to end the Fed and get the government out of all markets. Let's see how long the crooked bankster cartel can operate on a level playing field, without their protection. Nationalization of failed banks is no answer, either, let the healthy private sector banks cannibalize them.

Wall Street Breakfast: Must-Know News

Cetin needs to replace his photo with a Smiley Face.

Once again the economic headlines are almost universally bad. Socialism's triumph is civilization's downfall. Therefore, expect stocks to rise again today. The booboisee love the fantasy of the wold's governments coming to their rescue. What a joke.

A Summary of Q1 Bank Earnings: World, You Just Got Hustled

"Also, a straight on headshot would be an improvement over you wearing a goofy Nationals cap, laying on a woman's lap. Just saying. "

I couldn't disagree more. Great photo, Naufal. And I will add my praise to others' for a great article.

Also, in regard to productivity gains from the computer industry, it should be noted that the berserk "intellectual property rights" patent regime has progressively tamped down, and threatens to halt altogether, progress and productivity in this area. This on top of all our other problems. Being bearish and pessimistic is the only sane way to look at our situation. I will change my outlook when the country throws out the socialistic parasites and once again embraces free markets.

Secretary Geithner's Moment in History

I can't help but be reminded of the smiling, confident, even jaunty demeanor of FDR as he and "the brain trust" made things up as they went along, trying and then abandoning various programs in the New Deal. Nothing they did got us out of the Depression, and now Geithner and Bernanke and the rest of the Obama team are implementing the strategy that the really hardcore Keynesians say FDR should have tried, i.e. maximum stimulus, bank bailouts, etc. They're actually in panic mode, and they have no clue whether the new tricks will work any better than the old. And they're risking America's future in the process. Hubris? I'll say!

Government's Handling of Economic Crisis - Einstein Would Call It Insane

Excellent piece, Mr. Shaefer!

To VennData and the statist shill Cetin: consumers and businesses are supposed to BE the government in this country, not an unelected and unaccountable elite of cartel bankers and their evil twins in Leviathan's bureaucracy. When the average taxpaying citizen realizes it's time to cease and desist with profligate spending and irresponsible borrowing, that cue should be taken by a "wise and frugal government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned." (Thomas Jefferson, First Inaugual Address, 1801).

Last Week the Markets Partied, This Week Sobriety

Gotta agree with Teresa. It's the government, stupid.

Wall Street Breakfast: Must-Know News

axelrod608: "Our founding fathers thought enough of bankruptcy to write it into the Constitution as the ONLY remedy for incompetent businesses. I think they were a whole lot brighter than the current crop of bailouters and stimulators and financial cretins."

I think integrity and honesty of the founders was the key, not necessarily superior intelligence alone. In fact, Alexander Hamilton was the evil genius that brought mercantilism and crony capitalism to America, and Bernanke, Geithner, and all the rest are his intellectual heirs.

The slow-motion demolition of the Constitution and the American Dream continues apace. Bankruptcy law and the sanctity of contracts are the latest casualties.

Turning Toxic Assets into Gold

The rosy scenario is ridiculous. After Mike finally takes a job as a field hand he'll be making a third of what he did as a bank teller. And his condo will only be worth $75,000 in inflation-adjusted dollars, and never was worth more than that in the first place. Mike is a sucker, and so are all the people who voted for the crooks and madmen who put us in this hole in the first place, and are digging a hole of unfathomable depth for the succeeding generations.

The Three Kings of Wall Street: Gifts of the Magi Lifted Last Week's Market

"Oh yes, to Mr. Wen and the Central Committee of China, welcome to the wonderful world of capitalism and free market societies."

China is more capitalistic and has a freer market than we do. The Chinese know full well that their trillion or so dollars could be a worthless asset soon, thanks to the anti-free market and fascistic actions of our government and central bank. The sad day has arrived when we are the socialists, and they are the rising capitalists leaving us in the dust. They can do without us much easier than the other way around. The tail will soon be the dog, and vice versa.

Bank of America: A Risky Bet That May Be Worth It - Barron's

" the value of my mortgages is now being driven down when it is worth every penny of it's original value"

Nonsense. It is worth what a willing buyer will pay for it, no more, no less.

Mr. Market Has Spoken

I was cheering the author on for most of the article, until I came to the strange stuff about offshore tax havens. I gather that he's against them, but how does that square with the righteous indignation about the taxpayer getting screwed by the big banks? Is taxpayer compliance in service of the government/bank Leviathan that drove them offshore in the first place going to help or hurt the market? Since all taxation is capital-destructive (and please don't give me the bull about infrastructure "investments"), how will the police state's arms getting longer help the desperately needed formation of new, REAL capital, rather than the kind that comes off a digital "printing press"?

To the commenter who said "It is as inevitable as tomorrow's sunrise.....failure is a critical component of capitalism." - well, yeah, to the extent that failure is part of life. But capitalism itself is the perfect economic system, even if many of its practitioners are flawed.

You can take that one to the bank.