I think that people should be held accountable for what they say, especially when they speak with such certainty and abandon. Free speech is one thing. Its abuse is quite another.
Richard X. Bove is a bank analyst, guess what his compensation is tied to? Richard Bove's son is an institutional salesman @ what firm, you guessed it, Punk Ziegel & Co. You see where this is going?
It's just business as usual, my friend. I'm waiting for the retail folks to come forward and talk about the damage. Then, the lawyers come out. God, I wish I went to Law School. What a license to steal. I got stuck in an arbitration one time from a client/friend who thought Dean Witter had big pockets. We won easily, because it was a bullshit claim. After 5 years, the lawyer says, and this man lost our client mney. And DW's says, he made her money. And without missing a beat, he says........ "then he didn't make her enough money." You just can't make it up. Anyway, at the Depostion, DW/my lawyer knew the other shyster. My ass is on the line for what I believe is no fault of mine, and these two assholes start talking about their families, and where they're going on vacation. WTF???? I watch these third world execution squads thinking, 'ya know,they may have something here.'
I feel your pain. I have dealt with lawyers in the past and have learned to dislike them as a matter of course. Although my opinion may change from one lawyer to the next, it begins with a presumption of guilt and slime.
You know how many times I heard it was a buying opportunity from 14k levels all the way down to 12k...... Everyone thinks the financial crisis over because of the massive rate cuts and the bailout of BSC.....its not over.....for some reason everyone thinks that something this huge can end in only 5-6 months, I dont think so, something of this magnitude takes years....
I'll take it one step further by saying there was no crisis in the first place expect for a media generated 'financial crisis'.
So then why did Bernanke feel the misguided need to reduce rates? Does he take his cue from TV shows?
He's got a point. I think I'll call Florida Legislature, and tell them to Call CNBC and get back the 2.8 billion we lost to Lehman and JPM. Makes it so clean and easy.