if the fed is really concerned about issues that threatend the financial stability of the econonmy and banking system then they need to do something about the jackoffs at BSC, GS, and hedge funds that threaten the entire system by using monster leverage to take insane risks in illiquid markets like CDOs........because you know when the shit hits the fan its going to the working poor, middle class, and future generations that are going to be asked to pick up the bill.......it would be sad if a recession emerges from all this. why won't Ben ask for a 'sit down' with these jerkoffs......oh wait they put em in power.....he is owned.
Somebody who would know told us, "maybe a couple of years ago it was fixable. No more." Look at all these threads. How in the world can any system function with this level of fraud? The SEC said last Wed that they wanted Plain English Mutual Fund perspective so the avg guy can understand the fees. What they need is a disclaimer that tells them that the financial industry is inhabited by neanderthals who, given an opportunity, will steal the gold from their teeth, and that the regulators and the politicians who oversee them are in the pockets of Wall St. And there is only one way to handle it . RICO, disgourgement, treble damages and real prison time. It's coming.
It's easier said than done Difficult to do it without breaking the freedom and liberty America was founded with. Remember all tyrants from Saddam to Castro, from Hitler to Chavez, started doing "well intentioned" things.
The freaking problem is we have stupid lenders (cough; Japan; cough China cough etc...) who are so freaking retarded and want to gives us the money; practically free with inverted yield curver; Don't blame it on the feds and wall streets. I thinks someone already had pointed out that Japan and China wouldn't redirect their funds without seriously devalue their reserves. Just keep our military strong; environment clean and food source safe. They can keep our worthless dollars.
I cant belive congress is looking at a bail out for subprime. My gosh are we never going to get any great opportunities anymore. let these worms suffer from their mistakes, this bailout is for the banks, not for the homeowners, wallstreet will take the money and kick the homeowners out and pocket the money.
it's fine. if/when the abuses can no longer be contained, the unethical politicians, high rollers and regulators who treated the taxpayer like their personal cash cow will all be strung up. only q, by the feet or the neck?
Check this out. Is this Armageddon, or what???? Liz Rappaport CDOs Marked To Market 6/29/2007 3:23 PM EDT I hear the dropoff this afternoon is partially due to CDOs of all qualities being marked to market, so to speak, a.k.a. repriced, because funds are doing quarter-end reviews and reports. The repricing is ugly and could spell pain for more than the Bear Stearns hedge funds. According to one reliable source, high-quality AAA CDO paper is marked down by about 6 points, but lower AA and A by 20 to 30 points, and some BB and equity tranches (the lowest-rated and riskiest paper) are being marked down as much as 80 points With 22:1 leverage, what's a markdown of 6 points worth?? 80 points??? I think the days of Hedge Funds have peeked.