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Neil459

Neil459
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  • A New York congressman has a message for cable companies that want drop their all-you-can-eat broadband Internet plans: Don’t even think about it. [AllThingsDigital]  [View news story]
    Well, I don't agree with Obama on many things, but reigning in telcos and cable companies is not one of them. Consumers are getting screwed by these companies and the lack of competition. Hopefully, the Obama administration will disallow the unfair consumer practices like;

    1. Caps when they sold unlimited service.
    2. Unfair restrictions favoring the cable or telco's own services over 3rd party services.
    3. Blocking of services that should be open.
    etc.
    Apr 9 12:10 PM | Likes Like |Link to Comment
  • Given the sad state of newspapers, Sarah Lacy asks "Who the hell is enrolling in journalism school right now?"  [View news story]
    Journalism school should just be called "Psychological Programming 101" or "Clerk 101". If they ever start to turn out original thinkers in mass then news, blogs and papers will make a comeback. But people still expect to learn something from the news, not just receive a repeat of news flash from the reports political party.
    Apr 9 11:54 AM | Likes Like |Link to Comment
  • Benefits of Immigration and Migration [View article]
    Another example of academic smoke and mirrors. The implication from the article is "Immigration is not really a problem." Most honest Americans know that controlled legal immigration is the back bone of this country and we do not need an article like this to know it. However, the purpose of this article is to attempt to get normal people to second guess their resistance to uncontrolled illegal immigration.
    Apr 9 08:25 AM | 5 Likes Like |Link to Comment
  • Scrap the Summers-Geithner plan! Boston Globe's Laurence Kotlikoff begs, explaining in detail just how banks will game the system.  [View news story]
    Finally, economics people looking at this stuff instead of just lawyers.
    Apr 8 05:25 PM | Likes Like |Link to Comment
  • Bucking conventional wisdom, consumers are deleveraging.  [View news story]
    Deleveraging until the half of the consumers that are on the government bottle figure out they can afford to buy ipods, stereos and tennis shoes. If they cry more the government will just give them more money for more spending.
    Apr 8 01:34 PM | Likes Like |Link to Comment
  • The government's pending bank stress tests are being blasted by FDIC insiders, who say it's a pointless exercise that's more sizzle than steak.  [View news story]
    If anyone at the FDIC opposes it, it must be good for us. My new rule for the value of SEC, Treasury, FDIC opinions.
    Apr 8 11:21 AM | Likes Like |Link to Comment
  • As expected, the congressional TARP oversight panel releases a report suggesting the best course of action may be to fire top financial execs and liquidate problem banks.  [View news story]
    The chairwoman is a Harvard Law School professor, what do you expect? As long as the financials are a going concern they required far fewer lawyers. Bankruptcy means all those law school grads and professors will be in demand. You say, "it can't be that simple?" What qualifies lawyers to make business and financial recommendations?
    Apr 8 09:08 AM | 1 Like Like |Link to Comment
  • Since Obama took office, 39% of Americans think the U.S. is headed in the right direction, up from 15%. The economy is getting worse according to 34% of poll respondents, down from 54%. 20% see economic improvement vs. 7% in January.  [View news story]
    Hitler was generally upbeat, spoke well, and presented the only positive view for pre-war Germany. He was elected by the masses. But he could only have been elected by people who looked the other way with regard to his beliefs. I wonder what is more important, the meaning behind the words or the words themselves.

    On Apr 07 02:20 PM D_Virginia wrote:
    > Don't be too hard on the general public.
    >
    > After 8 painful years, we finally have a president that can put words
    > together into coherent sentences.
    >
    > Regardless of whether or not you agree with what those sentences
    > say, the fact that they actually express legitimate thoughts is reason
    > enough to be generally upbeat.
    Apr 7 02:36 PM | 1 Like Like |Link to Comment
  • Megan McArdle and Mark Kleiman on Bloggingheads.tv: Is locking Madoff up forever a good idea?  [View news story]
    The real criminals are the SEC staffers that ignored the evidence. Who should care about Maddoff; no one! But there are people at the SEC that should be in jail so they can no longer work in the finance sector. This is the signal that needs to be sent.
    Apr 7 01:46 PM | Likes Like |Link to Comment
  • Since Obama took office, 39% of Americans think the U.S. is headed in the right direction, up from 15%. The economy is getting worse according to 34% of poll respondents, down from 54%. 20% see economic improvement vs. 7% in January.  [View news story]
    Americans also think the banks and CEO pay were the cause of the problem. So much for public school education.
    Apr 7 12:31 PM | Likes Like |Link to Comment
  • Amid contending descriptions of the economic crisis, GW Law professor Lawrence Cunningham likes The Great Repression. Why? Because "unconscious exclusion of painful realities from the conscious mind caused the crisis, and continues to infect policy responses to it."  [View news story]
    Excellent description.
    Apr 7 12:25 PM | 1 Like Like |Link to Comment
  • The Modified Uptick Rule Debate [View article]
    I wonder if naked shorting is completely the problem or not? It seems to me that the problem is both the naked shorting and the volume available to cover the shorts. There should be a market circuit breaker that stops the shorting if its not reasonable for the market to cover the shorts. However, as an individual trader I should not be stopped from a naked short of 100 shares just because its naked.
    Apr 7 12:05 PM | Likes Like |Link to Comment
  • Andrew Ross Sorkin highlights the sections of the FDIC's charter that bar it from incurring any obligation greater than $30B, and explains how - if so - the once-modest bank-deposit insurer plans to guarantee more than $1T under the Treasury's new PPIP. Not pretty.  [View news story]
    I'm shocked! NY Times questioning the Administration.
    Apr 7 10:51 AM | Likes Like |Link to Comment
  • Get ready for a lasting slowdown, George Soros warns. The veteran investor says he sees 'something' in terms of U.S. growth only in 2010. Banks are 'basically insolvent' and 'will draw the lifeblood' of the economy to keep themselves alive, he adds.  [View news story]
    On Apr 07 09:13 AM prudentinvestor wrote:
    > Soros is right. The banks are profiting enormously from being able
    > to borrow at ZIRP, but still not enough to cover the write-downs
    > on the stupid loans they made.

    The banks are only profiting because the government sets interest rates. 30 Year national mortgage rate is 5.32% as reported today in the WSJ. Why, with the Fed funds rate at 0.25%? Simple the government is more concerned about the banks than the homeowner in spite of the political rhetoric about main street.
    Apr 7 09:52 AM | 1 Like Like |Link to Comment
  • Get ready for a lasting slowdown, George Soros warns. The veteran investor says he sees 'something' in terms of U.S. growth only in 2010. Banks are 'basically insolvent' and 'will draw the lifeblood' of the economy to keep themselves alive, he adds.  [View news story]
    On Apr 07 09:13 AM prudentinvestor wrote:
    > Meanwhile, the remaining prudent savers
    > in America are being robbed by zero interest rates, and so have less
    > money to spend or invest, as the banks are sucking out their savings.

    Prudent savers are only being robbed if interest rates are lower than inflation. Banks can not suck out principal. So I do not understand the logic behind your comment.
    Apr 7 09:33 AM | 1 Like Like |Link to Comment
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