Geez, does anyone really wanna be the other side of this trade with Goldman Sachs? That's what it is. GS is selling, we're buying, and the pit local is Hank. GS has just been too good of late for me to believe I'll profit. Exhibits 1-3: Last summer, GS's HF customers are levered long mortgage backed paper, quant style, even as its proprietary desk is short similar paper. Guess who bagged the billions? AIG is backstopped, 85 large, fileting shareholders with onerous terms, but saving 20 billion GS chestnuts counterpartied to AIG. Many others also aided that way, too of course. GS switches status 10 days ago to position for this bonanza. All that's missing is the 700b to fund my, yours, all of ours account, then weee! we're buying mort backed securities.
I see we are back in the Gutter today. thanks to the 75 Senators who voted for the Bailout thanks guys
Notice Dylan Ratigan on CNBC: he joined all the other CNBC reporters in bashing everyone and anyone who was against the bailout, and just generally being a "bailout cheerleader" every minute he was on the air. This was <i>before</i> the bailout. <i>After</i> the bailout, it was a different story. As soon as the Dow falls below zero on the day the bailout was passed, he becomes <i>angry</i> at the <i>government</i> all of a sudden, for passing the bailout! It's so annoying, it makes me want to beat the shit out of him on the air! I don't know if the other bailout cheerleaders adopted the same attitude as him, because at that point I really couldn't listen to it anymore.
totally agree. and now that we DID pass it the market goes down. Wonder what BS she will cough up to explain that
80% of Americans were against this bailout 80 % Yet the american govt. decided it would use their money to transfer wealth to private banks in Europe. This bailout didn't change one thing on wall street. The crooks behind the mess are who gained. Not the average tax payer on main street. He got the shaft.
Vote everyone who voted yes for this out of office. Remember who they are if they are not up for reelection this year and vote against them next time.
100% of the House is up for election in November. Historically, the odds of an incumbent being re-elected is very high... like 90%. It would be great if 90% of them were voted out of office this time.