Sort of lacking in evidence. But he's not far from the truth. On, I believe, 9/17/08, around 10:15 pm, Pelosi, Paulson, Cocks (sic), and a few other nimrods emerged from a meeting about the collapse of the financials. If you recall, soon after there was the ill - conceived ban on naked shorting financials. Anyway, Pelosi was ashen, and actually polite. She adjusted a podium for one of the participants, body language that shocked me. I called someone who would know. I said, "it's naked shorting, isn't it?" He replied to the affirmative and said, "they don't know how to stop it. Selling is coming out of London and Dubai." The former is factual. My opinion, the soon to be latter, is that they let the moneyed few run with the ball, and if they blew the whistle on the London and Dubai traders, they would have to implicate the major hedge funds and brokers, whose pockets they had their hands in. A sticky wicket indeed. The political winds have changed, and you'll see some action here relatively quickly. I liked the VF article where Stevie is going to hang 'em up. Then, GS says NS is bad. They see the train coming. It's criminal action. Has to be, or the populace will be in the streets - with guns. And Bam knows it. BTW, a major hedge fund player was in Dubai at the time. Put two and two together, and I don't look as crazy as I did in 05. Almost, but not quite.
participants pull out and go to cash. --------------------------------- Not likely. You expect pension funds, endowments, etc to go to cash? I'd guess tax code motivates to do anything except hold cash. Secondly, what makes this guy think there's any cash to be had anywhere? Bernanke/Obama has been handing out money in records amounts and no one has a dime to lend.
Wow. What a site packed with content. lol And, stop republishing the url every three or four posts just to float this stupid thread to the top. Work on making a better site, not spamming ET.
If you bump your thread once more just because you're not getting the responses, I'm going to delete it. If it's not that interesting to board residents, then it's not that interesting. Either make it so, or that's it.