xxxx's Comments

Crimes of Banking: Optimal Deterrence

Thu, 09 Jul 2009 18:10:20 -0400

I wish people would stop talking about the bankers as if they were actually human beings, because they are not and should not be treated as such. I will quote from the FT today regarding the consumer protection watchdog.

"banks are lobbying furiously to stop the consumer Financial Protection Agency's creation o to remove it most sweeping powers, which include forcing brokers and banks to offer simpler mortgages and credit cards alongside other products."

Considering all they have gotten, all they have gotten away with, endangering the dollar, our national budget, and causing more harm than Osama bin Laden one would think that what is being asked for in return is reasonable. But nothing is reasonable to these animals. It doesn't matter what or how much you give them they always want even more.

They should be treated like the sick animals they are and just put down for the sake of society.

62% Is the Magic Number

Thu, 09 Jul 2009 16:54:53 -0400

what happens when the stock price is out of line regarding earnings. they go up on good earnings, but are already higher than they should be. It is all just a joke.

NYSE Issues Correction in Goldman's Trading Volume: Anything Else We Should Know?

Thu, 09 Jul 2009 16:49:36 -0400

Good work everyone. I hope you are passing on this stuff to friends so they can have an idea of what is really going on. It has become clear that our government will only respond to popular anger and it is therefore crucial to keep sending those e-mails to those in washington who need to know we are watching and will take it out in the voting booth.

We are even starting to get some traction in the mainstream media, and I hpe tyler will come out with a nice big article once goldman publishes its earnings, so the world can see they make their money manipulating the market at the tax payers expense.

Strange how they have their most profitable year at the time the market has dropped faster than in any period in history. could it be because they designed it to happen.

Bankslaughter

Thu, 09 Jul 2009 16:32:52 -0400

lobby money!!!

On Jul 09 03:47 PM D_Virginia wrote:

> On Jul 09 03:26 PM Whippet wrote:

Bankslaughter

Thu, 09 Jul 2009 16:30:56 -0400

I didn't get to read all the responses, but as a doctor it sounds very reasonsable to me. If I cause injury and that injury is the result of careless or negligent practice I am guilty of malpractice, if bad enough it is a crime, and I have to pay off from the damages.

You can't tell me that most of what these folks did flies in the face of everything a good banker is taught. Don't loan money to people with no income and no jobs, don't sell shit to people you know is poison. these people own our government, and their crimes go unpunished. this is why it is time for a bit of popular anger and demonstration that there are actual limits to how badly you can treat the people who elect you.

While we sit here and debate what is right and wrong these people get away with crimes. We all know in our hearts there is something wrong in a system that allows people to make billions making others destitute or homeless. There is something wrong in a system that lets a manager become a billionare when those when invested with him are left paupers. The idea that there isn't something wrong flies in the face of common sense.

I can think of no better example than Mr. Pandit. His hedge fund blows up, cost his company a fortune and then he becomes the head of citi. Which of course is also a major failure Despite what he says he is one of the highers paid folks on wall street. Wall street has games the system into something perverse. they pretend they make money for shareholders and investors, yet in fact it is an industry designed to separate their clients from their money and give it to themselves regardless of outcome. It isn't abut he best and brightest (although I am sure they are smart) the test is really do you have a soul. I can assure you those with a soul who have a problem with an objectionable practice that makes money for the firm do not stay there long, and do not become partners.

Does Felix Have Criminal Tendencies?

Thu, 09 Jul 2009 16:13:15 -0400

I find the whole issue funny. All someone needs to do is just look at the outcome and the answer is clear. derivatives, securisation leads to being careless with risk and playing games. Make a company bankrupt and short it's stock so the CDS contracts will pay off. (Goldman). Package shit and sell it off.

One would think listening to these people that the world did not exist before all this financial innovation. What they label as innovation is really a way to reduce capital requirements and increase leverage thereby increasing salary and bonus.

I don't know if it that they lie so much they actually believe themselves, or they lie and they know it. Notice how every thing needed to fix the economy in a banker's view just happens to increase their salary, involves government giving them a free luch, and costs the taxpayer.

Fecal matter comes from their mouths. It is just one big game. Notice how each and every argument involves how I will suffer if they don't get what they want. Strange, and always the same playbook

Thursday Outlook: Commodities, Global Markets

Thu, 09 Jul 2009 09:42:19 -0400

Your comments at this time are not factually correct. There is a great deal of consensus. This is like saying there is no consensus on evolution.

I am not here to debate what policy should be, but this is a distortion promoted by industry and people with a political agenda mostly. the same way Phillip Morris said their products did not cause cancer.

This is clear a multifactoral issue and that anything deaing with the total world as a petri dish is very complex.

You need to actually do some research, because volcano's cause global cooling. The clouds and particles reflect sunlight back into space. I believe krakatoa caused a hug very cold winter in europe for a couple years, but It may have actually been another volcano.

If you do not know the science or the issue, don't comment because there are people out there who will believe you.

Glaciers feed streams that depend on the amount of snow in the mountains. less snow, less streams. this is causing huge problems for people who depend on the glaciers in south america.
But, once more, complex issue. As earth warms more water in atmosphere and some place could actually see more snow, with increased melting at same time.

My advice, buy some land in canada in an area with out too much population around it, and a good water supply.

My own theory is that the reason we hav not found intelligent life on other planets is because they tend to kill themselves off quickly in the cosmic scheme. after all we went from radio waves to the ability to destroy our self in about a 100 years. How many millions were the dinosaurs around for. Intelligence is an evolutionary dead end, which is why the universe isn't full of little green aliens. rapid travel allows disease to spread, nukes, genetic engineering, or the ability to alter the environment faster than we can adjust for it, or use resources. The nature of every living organism is to expand until it runs out of resources, or something takes out numbers. What will be the limiting factor I have no idea.

But it will happen

On Jul 09 09:13 AM robert.b.ferguson wrote:

> There is no consensus among rational scientists on this issue. The
> notion that industrial activity is driving the warming cycle is rediculous.
> In case you didn't notice the glaciers began melting before the industrial
> revolution ending the last (not the first) ice age. Add to that the
> fact that every volcanic eruption of MT. ST. Hellens magnitude or
> greater puts more pollutants and green house gas into the atmousphere
> than our species has in it's entire history and the picture is much
> different. Even if we could stop global warming it probably wouldn't
> be a good idea. Glaciation recharges aquafers in the northern hemisphere.
> That would be like keeping hurricanes from hitting the North American
> coast, you wouldn't sustain storm damage but you would cause massive
> drought. Lets not inject wierd science into this.

Capital One's Unadjusted Charge-Off Rate Hits Record 9.91%

Tue, 16 Jun 2009 09:05:33 -0400

1)May I suggest you read the stated intent of zero hedge. His posts are consistent with the philosophy the group has.
2) there are many social commentary pundits on this site. James quinn, baseline scenario, etc.
3)I like having someone out other actually looking at what gets reported by the financial press and giving it a deal of scrutiny. Does the public understand that the treasury auctions are failing and that only the fed is buying? do they understand what this means for the dollar, deficit, and inflation. I don't see this crap on CNBC or MSNBC and hence even if Mr. Durden makes some errors I would not trade him for the world.

If you want to go over your post and explain why this is a good investment please do so. What I see overall is massive manipulation of equity and bond markets that distort the economic realities of what is really happening. I also see a government that appears determined to work against the American people for the benefit of wall street lobby money and themselves.

So regardless of you position, and I'd love a few good stock picks, getting the word out to big media of what is really going on makes this blog one of the best out there.

Tyler, any further word about the fed buying stocks?

On Jun 16 06:35 AM ValueInvestor13 wrote:

> "It's financial information about trends. If you don't understand
> how to use it to your advantage, don't read it. I think it's pretty
> obvious this is a macro-styled post and not just about the minutae
> of where COF is going in the next 5 days."
>
> I think it's clear from "Tyler Durden's" history on Capital One he
> doesn't understand how to analyze a financial services company. "Seeking
> Alpha" is nominally about seeking outperformance. That being the
> idea, one should endeavor to understand, in the pursuit of an arbitrage,
> whether the phenomena one is describing in such data is properly
> discounted in the stock price of the company under discussion. This
> isn't "financial data description time," it's investing. It has been
> very well known and understood for months and quarters the charge-off
> rate would increase this year. The rate is not accelerating, by the
> way, but decelerating. FYI, Banyon and Mr. "Durden," the idea at
> this point in the cycle on credit financials is to look at the progression
> of delinquency rates and reserves. Net charge-offs are, like unemployment,
> trailing information.

Federal Reserve Open Market Operations: Week Ending June 12, 2009

Tue, 16 Jun 2009 08:47:22 -0400

despite what the fed says about the dollar and inflation I think we can conclude that their actions are designed to destroy the dollar and boost inflation.

This fo course benefits the bankers much more than society as a whole and the fed, being a consortium of private bankers, would be expected to do just that.

Financial Regulation: Too Much Consensus May Pull All Its Teeth

Tue, 16 Jun 2009 08:14:19 -0400

Thank you Mr. Kwak for starting to give the grief that is deserved. Just the idea that the man chosen by wall street to run the NY fed should be in charge to determining the regulatory framework should tell you the end result. Let us keep in mind that throughout this crisis the Obama team has backed down to wall street every chance it has got. The idea that a man of change has been elected has been proven false.

With 30-year mortgage rates now above 5.5% - a level which many predict will petrify new loan apps - Mike Shedlock wonders what Bernanke has planned for an encore: "What now Big Ben? You've already blown over a third of your $1.25T commitment, and all you have to show for it is more garbage on your balance sheet and a locked up refi market."

Thu, 11 Jun 2009 20:27:50 -0400

his actions have backfired on may fronts.

On Jun 11 06:37 PM Illusional Delusion wrote:

> Profitability is definitely not an issue for the banks based on the
> spread so far, but the illiquid housing is not going to get better
> for sure. If attracting more liquidity for housing is the key at
> the inflated housing prices (not that it is not cheap but perhaps
> not that attractive given the oversupply versus price), then yeah,
> Ben's plan backfired obviously.

Green Shoots Are Parched

Thu, 11 Jun 2009 15:02:57 -0400

The problem is that the "green shoots" were a mythin to being with . manufactured to imporve consumer confidence and approval rating within the adminstration. To also get retail investors to bail out the banks by buying stocks.

On Jun 11 10:19 AM thiazole wrote:

> You guys obviously don't understand what "green shoots" are. Green
> shoots happen when the rate of deterioration is moderating. That
> is why they are called shoots and not plants. If they happened when
> the GDP reversed to positive, they wouldn't be shoots since the recession
> would already be over. Green shoots are yesterday's news so I don't
> understand why bears keep bringing them up. It is like obsessing
> about Lehman Brothers. Water under the bridge. Get with the program.
> We are already starting to see the plants from the green shoots that
> indicate that GDP is on the verge of turning posititive.
>
> Yes, Obama is spewing terrible economic policy. Creating more government
> jobs to leach on the economy is never a good thing, but none of that
> has even happened yet but the cycle has already begun reversing.
> The economy will recovery IN SPITE of Obama. In fact, the GDP will
> probably be positive before hardly any of his "fixes" can even be
> incorporated. All his stimulus spending will do is prompt inflation.

Economic Data Roundup: Is This as Good as It's Going to Get?

Thu, 11 Jun 2009 14:59:41 -0400

expect volker is the only person who actually means what he says regarding the dollar. the fed is going to kill it and bring about inflation in order to restore the banks. There is a reason he has been marginalized by the current administration. it's because he is honest and can't be bought.

5 Reasons Why The Rally Won’t Last

Thu, 11 Jun 2009 14:31:50 -0400

this low volume rally will go on and on as long as those who are running it car allowed to. see frewqent stick saves, yesterday!!

5 Reasons Why The Rally Won’t Last

Thu, 11 Jun 2009 14:30:44 -0400

Yeah, lots of dumb comments, but I will say a manipulated market doesn't mean much.

On Jun 11 02:23 PM thiazole wrote:

> We have two spam posts above, but I'm the one that gets thumbs down.
> It shows you the quality of idiots on this forum. If it wasn't so
> fun to gloat at all the mindless bears here, I would have left this
> forum a long time ago.

Falling Equities Still Key for U.S. Dollar

Thu, 11 Jun 2009 13:52:18 -0400

It is nice to see that some people are beginning to see what is going on here. I wish the "regular press" got hold of it. People should not be giving thumbs down for speaking the truth about this market. you can still trade this stick saves. Each time there is a selling effort it removes people from the market and each selling effort is less successful.

On Jun 11 10:06 AM wpdragon wrote:

> Ashraf, while I agree with the premise of your article, you have
> left out the ONLY factor that matters as far as equities go, and
> by extension your argument for the direction of the dollar.
>
> That factor is J P Morgan. They have gunned the E-mini's virtually
> every single time US equities have started to back off the "rally"
> engineered by the FED and Treasury over the past 30-45 days. They
> have been a permanent prop under the stock market during that timeframe,
> and they have billions and billions of government $$ to inject anytime
> prices start to weaken. Most of the late day "miracle rallies" have
> been due to nothing more than JPM engineering, and NOBODY stays short
> going into the last hour anymore, they just sit back and place side
> bets on what exact minute the buy programs are going to roll in.
> And roll in they always do... most recently at 3:20 eastern.
>
> Volume, internals, technicals, fundamentals all look and smell like
> yesterday's breakfast. But you know what? That doesn't matter one
> iota.
>
> Tell me how long JPM works as a proxy for the US government to keep
> this market artificially propped up and I will not need stochastics
> or any other oscillator to tell you what the stock and USD markets
> will do.
>
> Right now they OWN this thing, lock stock and barrel and until (IF!)
> that changes its more of the same.

Are Markets 'Decoupling' - And How Would We Know?

Thu, 11 Jun 2009 13:43:42 -0400

who do you think you are fooling cetin. each and every day you create 4 new profiles to populate these boards and spam. go get the professional help you need and leave us alone. post on tech ticker or some other site.

On Jun 11 01:23 PM htr5 wrote:

> up goes the market...this bull cannot be stopped. glad I'm not short
> despite being a bear.
>
> good articles url9.com/y0
>
> This whole 'financial crisis' and 'worst recession since the 30's'
> was in actuality merely a shakeout caused by the collapse of Lehman,
> an is manifested by a sudden, but temporary dip in GDP & profits.
> Things are returning to exactly to how they were before. Nothing
> fundamentally changed. The economies of India, china, Hong Kong,
> Russia, Brazil, Mexico have
> been insulated, in fact.
>
> long MA POT GOOG but still a bear. no plans 2 sell. i am very smart.
>
> good articles url9.com/y0

Oil Bull Market: Fast and Furious

Thu, 11 Jun 2009 13:38:36 -0400

the stick saves prevent the S&P from correcting although it is the most expensive since 2003. this allows the banks to avoid having to get more funds and keeps their books from falling. (see yesterdays close). the fed lends them money for free, but because they are distorting the market t-yields go to 4% . mortgage rates now about 6%. We loan them money the taxpayer pays back at 4 (for free), so they can charge us 6% (when they are the cause of it being so high. (that's a 10% spread.

further this distorts the vix and and people care less about risk aversion. this also kills the dollar and brings on inflation (which further helps the banks pay back money (inflation reduces debt levels).

American's savings get gutted, the dollar tanks, and we get inflation all because the wall street banks are running the show.

this is the connection and this is what is happening. It isn't the market, it's manipulation of the market to help the banks at the expense of our economy. retails sales are up all because of fuel, this is the same situation that caused the recession.

On Jun 11 01:30 PM xxxx wrote:

> The ignorance you show is amazing, and you should do some more reading
> before making comments. I suggest reading some of Philip davis articles
> and david fry. they will clearly point out the manipulation in the
> markets and everything else is related to that.
>
> I do not have to educate you.

Oil Bull Market: Fast and Furious

Thu, 11 Jun 2009 13:30:05 -0400

The ignorance you show is amazing, and you should do some more reading before making comments. I suggest reading some of Philip davis articles and david fry. they will clearly point out the manipulation in the markets and everything else is related to that.

I do not have to educate you.

On Jun 11 10:57 AM Burticus wrote:

> Remember, the current oil rally follows a 75% decline in price to
> around 35 FRNs, about half the price where oil was trading in the
> year prior to July 2008. This makes comparisons to prior rallies
> very tenuous. The recent unprecedented massive increase in the fiat
> electron currency supply by our central banksters adds a major currency
> debasement factor to the usual supply/demand fundamentals. Given
> the serious depletion of the world's major oil fields and limited
> exploration and development of deep water and alternative sources
> at today's prices, it is a virtual certainty that oil prices will
> rise to new heights in the next few years, despite the Great Recession.
>
>
> While cautious in my current long position, I am certainly not ballsy
> enough to short oil at this point and definitely not in the long
> term.
>
> Please spare me the whiney-cryey "blame the speculators" and "bad
> for the recovery" comments. Mr. Market will do what it will do and
> we will all live (or die) with it. If you don't like what you see,
> fire all elephants and jackasses before America becomes a fascist/socialist/comm...
> economic system under a totalitarian oligarchy.

Is the Correction in Gold and Silver Over or Just Beginning?

Wed, 10 Jun 2009 08:49:18 -0400

All the assumptions made rest on if the S&P corrects. if wall street ke4ps manipulation the S&P the dollar will rise so much and commodities will only fall so much. I correction has been in the picture a long time, but not allowed to happen the dollar rose for a few days, the s&P did not fall the way it should have. (see stick save at end of day monday). see what is happening today.

If you aren't going to see the manipulation and use that as a way to giude your trading you will loose a lot of money.

silver should go down to about 13.75 before moving up again. that isn't what is going to happen because of manipulation.

Time to Exit Oil / Gold Pair Trade

Wed, 10 Jun 2009 08:33:26 -0400

except if the s&P is manipulated as many think if this isn't allowed to correct other commodities will not correct.

In a rational market you are right, we are not in a rational market and wall street banks on low volumes have pushed up valuations beyon where they should be.

"Europe’s Dow Jones Stoxx 600 Index advanced 2.1 percent. The gauge has rebounded 36 percent since March 9 on speculation that the $12.8 trillion pledged by the U.S. government and the Federal Reserve will help end the first global recession since World War II. The index is now valued at 24.9 times the earnings of its companies, the most expensive level since 2004, weekly data compiled by Bloomberg show."

logic does not work in a manipulated market!!!!

Market Outlook: We're in the 'Bounce Phase'

Wed, 10 Jun 2009 08:04:45 -0400

hedge funds have put their money into other asset classes because they realize the market is being manipulated and the overall economy has major flaws. "commodities" as hedges of inflation

"Europe’s Dow Jones Stoxx 600 Index advanced 2.1 percent. The gauge has rebounded 36 percent since March 9 on speculation that the $12.8 trillion pledged by the U.S. government and the Federal Reserve will help end the first global recession since World War II. The index is now valued at 24.9 times the earnings of its companies, the most expensive level since 2004, weekly data compiled by Bloomberg show."

Top 5 Most Desired ETFs by Fund Flow Percentage

Wed, 10 Jun 2009 08:00:03 -0400

as the market goes up and valuations get extreme you take aout a hedging position in an invesrse fund .

Market Action (or Lack Thereof) Charts

Wed, 10 Jun 2009 07:58:07 -0400

thanks for keeping an eye out as to who is keeping the markets "popped". guess since you outed goldman they have to rotate now.

Are you able to determine what percent these people are trading as a percent of the total market volume?

Valuation Headwinds for Stocks

Wed, 10 Jun 2009 07:50:54 -0400

"Europe’s Dow Jones Stoxx 600 Index advanced 2.1 percent. The gauge has rebounded 36 percent since March 9 on speculation that the $12.8 trillion pledged by the U.S. government and the Federal Reserve will help end the first global recession since World War II. The index is now valued at 24.9 times the earnings of its companies, the most expensive level since 2004, weekly data compiled by Bloomberg show. "

Nothing personal, but the assumption made by the author is that efficient market theory is valid and working The assumptions being made assume enough volume in the markets so certain players can't manipulate them. The above quote from bloomberg shows how irrational the run we have had is.

As I have stated many times the net money flow was neg on the S&P from end april to late may, but the index did not drop. If the author would please explain.

you can not make rational analysis in a manipulated market, and attempting to do so is useless.

the constant stick saves effect the currency markets, commodities markets, and bond markets. least of all the currency markets.

Note we had 5 days of risk aversion in the currency markets but the us market didn't drop? Why? this supports weaker dollar and higher currencies. Your analysis would be better if you looked at "strange" market behavior that does not fit with what is happening on a global scale.

TARP Utilization: Is Obama Above the Law?

Mon, 08 Jun 2009 21:57:48 -0400

While not a Bush fan at all the anger directed at Obama is justified. he talked about change and has backed down at every chance in favor of the banks, he has appointed the same culprits who go us into this mess. I voted for the man, but instead of looking at his words look at his deeds. No other perfect example is needed other than his administration calling dodd to continue with the Aig bonus payoff. This was to buy the silence of those who knowingly caused this mess and shut them up about how the system was gamed to get 12 billion to AIG. Some how the rule of contract law applies to these people, but not to non financial industries.

While he did not cause the problem his policies are making the situation worse. The proof is in the alienation of Paul Volker. Since he can't be bought, he was cast aside for Sommers and his 6 mil/50 day job from a hedge fund. That is not change that is corruption pure and simple.

On Jun 08 02:23 PM David in D wrote:

> Tyler, Dave, Graham/Dodd, and maidenLane:
>
> It's remarkable to me how much blame you have assigned Obama. You
> might recall that he has been in office a rough total of 140 days.
> You have VERY short memories.
>
> Obama's administration didn't create the financial mess, he didn't
> initiate TARP, he didn't hold down interest to inflate the housing
> bubble, and he didn't run up the deficit for an unjustified set of
> military spending. While blame shifting seems to be the norm on
> Seeking Alpha you should at least have the basic sense to understand
> how long it takes for different governmental actions to occur.

>
> When you claim that "Obam is at fault" when the man has been in office
> for 140 days you look immature at best and idiotic at worst.
>
> You can judge Obama after he has been in office for about 1,000 days.
> At that point his early decisions will just be taking effect in the
> real markets. Otherwise grow some insight or maturity or both.
> I'm tired of the Obama bashing on this site.

Domestic Investment Plunges: Shadows of the Great Depression?

Mon, 08 Jun 2009 21:40:27 -0400

glad you see through the bs.

On Jun 08 12:47 PM conceptwizard wrote:

> This is how Wall Street’s collaboration in financializing the public
> domain has inaugurated a neo-feudal tollbooth economy while privatizing
> the government itself, headed by the Treasury and Federal Reserve.
> Left untouched is the story how industrial capitalism has succumbed
> to an insatiable and unsustainable finance capitalism, whose newest
> “final stage” seems to be a zero-sum game of casino capitalism based
> on derivative swaps and kindred hedge fund gambling innovations.
>
>
> Reform is required. We cannot continue down this path of destruction.
> This is an unsustainable theology for North American survival. We
> know this game of casino capitalism does not work except for the
> Financial Elite. The taxpaying citizen will be paying for generations
> to just simply maintain the current environment, which is toxic.
> We have elected a politician that has promised us change but has
> delivered us our fates at the hands of the Financial Warlords. Where
> is our take from the Rich and Give to the Poor Robin Hood we elected?

Tracking Unusual Moves in Treasuries

Mon, 08 Jun 2009 21:28:46 -0400

you need to add manipulation of the S&P into your equation. money is not flowing into us stocks, yet the market isn't dropping. this inflates world stocks and causes changes in the bond market.

therefore the wall street banks are actively fighting the actions of the fed with taxpayer money. in the end the american people get screwed and our government wastes trillions. look at todays actions townrds the close and the billion thorn in to ensure futures rise. Hence the taxpayers are financing banks trading profits, and paying at the long end for that via future inflation and a falling dollar. It is in fact a hidden cost of the bailout.

Goldman sach has more trading risk now that at the beginning of the crisis and a large portion of their profits was from trading. they do not want to mark down their portfolio. so they continually manipulate the market up, the dollar falls, and treasury yields rise.

you see the most interesting action when you compare currency markets and the us stock market. worldwide there is heightened risk aversion but because nobody want to be in the us markets they are easily manipulated in a low volume environment by the banks.

we are fighting our own banks who are using our money slowing actual progress in the macro economy. this increases budget defecits because we have to pay more in interest.

Economic Ramifications of Skyrocketing Long-Term Unemployment

Mon, 08 Jun 2009 21:09:19 -0400

If you think that this is a democrat or republican problem you are sorely mistake. it is both parties.

the second point is that the system has been gamed to function the other way around for many years.

While corporate ceo pay now averages 300X the average worker, compared to 30X in the 70's. add to that the fact that real wages have been going down for 30 years. as the stock market and corporate profits have grown in a log manner, income has fallen. Do not forget that less than 50% of americans own stock, and that the great majority own very little of it. I fully understand your frustrations, and agree with you in some sense, but the opposite has been happening for a long time. Buffett has commented that he pays less as a percent in taxes than his secretary, and that recent tax cuts have tended to favor the wealthy. don't forget the inheritance tax. After all you can't take it with you.

At the time of this crisis we have had the greatest wealth dispartiy since the great depression. I do not believe that this is just a fluke. the structures that create this disparity are prone to instability, and that we would be much better off with a more stable system. I am not calling for a resdistribution of wealth per se, but a change in the system that allows for those who are productive in society to be able to share more in its benefits.

We should not redistrubute so much as make the system more fair.

On Jun 08 07:05 PM Alphameister wrote:

> Obama, Biden and their ilk have endorsed the principle of taking
> from those who have and giving to those who don't. It should come
> as no surprise when increasing numbers of the destitute choose to
> adopt the same principle while eliminating the governmental middle-man.
> I'm afraid we will be living in a very scary world for a very long
> time despite a probable further expansion of unemployment benefits
> and a likely weak and fragile economic recovery commencing this year.

Economic Ramifications of Skyrocketing Long-Term Unemployment

Mon, 08 Jun 2009 20:55:37 -0400

correct. Both parties have been bought by big industry. the financial services industry understands this and gives to both parties.

On Jun 08 02:56 PM Dirtnap wrote:

> The partisan vitriol in some of these comments is just ridiculous.
> This is not something that was caused by either political party,
> it was caused by BOTH party's in cooperation with powerful corporate
> and financial interests, and let's not let the average consumer off
> the hook either.
>
> This is a storm that has been brewing for decades, and our constant
> denial of it led to its expansion and implosion. I'm pretty sure
> no matter who is president over the next 3 to 4 terms, they are going
> to look pretty ridiculous, because there is no way they can fix this
> fast enough.