richcash8

The Pelosi Factor - Cramer's Mad Money (8/25/08)

This just in:

CNBC reports the Schumer IndyMac closing cost FDIC not $8 B as previously reported, but $32 B, leaving FDIC reserves below legal mandates. A CNBC commentator claims FDIC funds are less than 1% of Federally Guaranteed deposits, that FDIC will raise premium assessments on surviving banks. What insurance company would insure highly leveraged financial institutions today? Berkshire Hathaway and Korea apparently passed on Lehman, and Merrill investments trashed Singapore's Retirement Funds. In 1933 FDR, a one-time banker, and leading bankers opposed FDIC for fear of moral hazard.

plus ça change, plus c'est la même chose!

The Pelosi Factor - Cramer's Mad Money (8/25/08)

Let's get real here folks.

Cramer an amnesiac manic depressive misanthropic hyper psychopathic promoter whose hidden complete track record trails passive index fund performance. JC erroneously called bottoms since at least January of this year. JC calls himself the best trader on Wall Street. Wonder what Buffett, Heebner, Rogers, Soros, the late Templeton and others would say?

Re Pelosi and CLNE, let us not forget Feinstein and PCR, Rumsfeld and GILD, Cheney and HAL, Bush and oil, Chuck Schumer causing a run on IndyMac with his hedge fund buddies short IMB, and Harry Reid with his tribal gaming money and land deals benefited by legislation.

The Pickens Plan includes further picking the taxpayer pocket to leverage his windpower and natural gas deals. Meanwhile his investments, along with CHK, are heading south.

Am I the only one who finds something curious about FNM and FRE GSE equities going higher while their balance sheets head south? How many times can Merrill come to the trough? Are $560 T in derivative leveraged institutions too big to fail, or too big to rescue?

Most bankruptcy bailouts wipe out common shareholders.

Is it possible the 6 Trillion dollar scale of just the FNM and FRE GSEs is beyond taxpayer revenues and the $10 T Treasury market to rescue?

How many CDOs and other falling assets can the private Federal Reserve put on its balance sheet before insolvency or hyperinflation?

FDIC went from $50 B available for $6 T deposits to $42 B after the IndyMac closing. FSLIC and RTC cost taxpayers $150 B, with the choicest properties going to cronies.

And what about all the other unfunded liabilities with social security, the Iraq War and other GSEs? Can we paper them over too, or will we raise taxes to 89% and default on government IOUs?

Interesting times indeed.

Maybe it's time we return to the Constitutional definition of money or write in Ron Paul for President.

Will Automakers Switch to Natural Gas?

Brian Pursley: Putin less crazy than evil, for jailing or killing those who dare report or run against him and confiscating private assets for his Gazprom friend made President of Russia under him. Your Rotterdam professor crazy wrong for predicting oil prices $16.85 to $19.50 until the 2010s and then $19 to $24, saying oil supplies are good until 2100. $149 aint $24. The debt-inflated dollar did not depreciate that much!