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  • Sell The Pop - Bank Of America's Deal Reeks Of Desperation [View article]
    Just one more guy trying to short BAC
    Aug 25 12:45 PM | 2 Likes Like |Link to Comment
  • US loses AAA credit rating from S&P [View article]
    The way I remember it the House passed the Ryan budget and Democrats killed it. Then the House passed cut, cap and balance and the Democrats killed that. Let's just say there was no Tea Party and Pelosi was still in control of the house. Do you think the debt would be any less? Do you think the deficit would be any less?

    Boener and Reid did in fact have an agreement calling for $800 billion in new taxes but Obama killed that because he wanted more. I guess I wonder when the liberals are going to take some responsibility for the the budget mess rather than blaming somebody else.
    Aug 7 04:43 PM | Likes Like |Link to Comment
  • US loses AAA credit rating from S&P [View article]
    How did the Tea Party refuse to do what was needed. It was the Democrats that refuse to stop spending. Spending has increased 40% since they took control of congress in 2007. It was Obama that submitted a budget of $3.8 trillion. It was the Democrats that refused to negootiate. How could you say it was the Tea Party. They did not even exist until Obama starting spending money like a drunk.
    Aug 7 03:57 PM | Likes Like |Link to Comment
  • 14 Compelling Shorts for a New Bear Market (Part 1) [View article]
    I believe BAC's acquisition of Country Wide was a hugh mistake and I blame both Ken Lewis and Joe Price. The question I have is why Joe Price did not get the ax when Lewis did.
    Aug 2 11:48 AM | Likes Like |Link to Comment
  • Third Point’s Daniel Loeb again wields his acid pen to criticize White House leadership: "It is increasingly difficult to avoid the conclusion that while Washington burns, Pres. Obama is fiddling away by insisting that the only solution to the nation’s problems - whether unemployment, the debt ceiling or deficit reduction - lies in redistribution of wealth."  [View news story]
    The top 10% of earners pay 71% of the tax now. How much do you think it should be? 85%?, 95%?
    Jul 25 11:20 PM | 4 Likes Like |Link to Comment
  • Administration, GOP clash anew over debt plan [View article]
    I am not so sure. We tried that during the depression. Government spent money like hell for 10 years and it did not work. Only the war got us out of the depression and got the unemployee figures down. The problem with government spending money is they sap resources from the private sector which is where real wealth is created. Furthermore, Reinhart and Rogoff precent a lot of empirical evidence that when a country's debt gets to 90% of GDP (which is where we are) that economical growth slows to a trickle.
    Jul 24 10:10 PM | 1 Like Like |Link to Comment
  • Debt Ceiling Is Not the Only Issue [View article]
    You are correct. On the other hand, the government is the most inefficient institution that exists. I guarantee they never set aroung and think about how to reduce cost or improve efficiency or get a better return on dollars invested.
    Jul 24 05:45 PM | 3 Likes Like |Link to Comment
  • Debt Ceiling Is Not the Only Issue [View article]
    Obama and Democrats have not submitted a budget for two years. In February Obama submitted his spending fy 2011 proposal of $3.8 trillion and a deficit of $1.6 trillion. He is adding $4.1 billion to the budget every day. Spending has increased 40% since the Democrats took control of congress in 2007. Yes we may have to increase taxes some but the big problem is out of control spending.
    Jul 24 05:38 PM | 1 Like Like |Link to Comment
  • Did Jamie Dimon Just Sound the All-Clear on Banks? [View article]
    Why all the hate for banks. I know they contributed to the financial but they are getting far too much of the blame. They did not cause the housing bubble as that was driven by the Fed's low interest rates. Fannie and Freddie set the standard for subprime more so than banks. And mark to market accounting rules cause the banks to have to take big losses and than short selling piled on. Bank shareholder took a big beating. Most of the banks did not ask for a bail out but were forced to take it (at least the orginal 9). Most payed back the bailout with high interest. I just believe the banks have taken the brunt of the blame and there is plenty of blame to share.
    Jul 17 08:53 AM | 1 Like Like |Link to Comment