Comments on: Corporate Bailout: Intentionally Bungled?

By: LD

LD — Thu, 01 Jan 2009 14:12:20 +0000

http://www.nypost.com/seven/01012009/business/citigroup_finally_joins_the_no_bonus_pos_146723.htm

Looks like Citi will implement a comp system that employs a “clawback” for situations in which residual risk remains within the firm.

I would assume if Citi does this that all the banks will also do the same.

By: TeakwoodKite

TeakwoodKite — Thu, 01 Jan 2009 02:41:48 +0000

Happy New Year back at ya Anne Oakley,

Keep the pistols clean k?

By: LD

LD — Thu, 01 Jan 2009 00:24:22 +0000

Rolling…at today’s close the DJIA was actually only down .6 for the month. It was down 34% for the entire year!! The market rallied fairly significantly the last two days. App 3.2%.

By: LD

LD — Thu, 01 Jan 2009 00:11:05 +0000

Annie,

We are aligned here. I hope that through increased sharing of info and dialogue here at NQ that people will become more informed as well. In so doing they can act and react accordingly.

Thanks for sharing.

By: Annie Oakley

Annie Oakley — Wed, 31 Dec 2008 23:48:04 +0000

Thanks for this post, and please keep asking questions and speaking out on this. Most people, including congress, are easily cowed on this topic because it is so complex. LD is providing a valuable source for information, so the following criticism is not aimed at him.

The Fed has used the public’s and congress’s lack of knowledge about finance as a way to silence its critics. William Greider wrote a book about the Fed called Secrets of the Temple which documents the Fed’s handling of a similar financial crisis in the early 80s as well as some history of the Fed. Two of the ideas in his book are that in a democracy’s finance, all people have the right to know what’s being done, who benefits and who pays. Secondly, finance is political. There is no great Rule Book for the Fed to follow, and they have been proven wrong frequently. But they make monetary decisions in favor of the financial class and at the expense of ordinary citizens. An informed citizenry can push back against the big banks – and used to.

So please keep speaking out on this important topic. Only Bernanke’s or Paulson’s view doesn’t tell the whole story.

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 23:28:31 +0000

And you articulate it so well LD. There is so much to go over that it’s difficult to piece it all together.

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 23:25:44 +0000

Yep and they are the very same people who blame mortgage brokers for this mess..mortgage brokers don’t make the rules, they only follow the lender guidelines.
The one with the money makes the rules.

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 23:20:54 +0000

If you only knew the half of it. MSM isn’t saying because MSM doesn’t know. Plus, nObama has been in bed with the likes of Credit Suisse since at least 2004. Big time player with big time fees..getting stinking rich..
They failed a while back but these crooks have a way of coming back from the dead with their rotting corpses to try and get some TARP money for their extavagant lifestyles at the expense of the borrower. Sell your books, CD’s and whatever else. We are at the top of the roller coaster and heading down.

By: Annie Oakley

Annie Oakley — Wed, 31 Dec 2008 23:12:05 +0000

Is there no end to the largesse?

There is an end. It comes when the bailout gets to the working stiffs. No bailout for you. “Wha’ are ya a commie? Think there’s a free lunch?” Just the other day some congress-critter was saying they couldn’t give money to ordinary Americans because they’d just use it to pay off their debts… sort of like the banks are doing…

Happy New Year, Kite!

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 23:11:49 +0000

At least 108 Hedge funds at 66 outfits have Failed.

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 22:57:31 +0000

Dow falls 3.9% in DEC.

http://www.youtube.com/watch?v=YIC7ufXH-G0&eurl

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 22:55:25 +0000

CNBC yesterday who attempted to propagandize for the bailout by pushing the idea that it was necessary and inevitable.

Schiff pointed out that the word “stimulus” was a misnomer because the government has proven itself incapable of stimulating the economy and has only sought to “interfere with the free market’s ability to create legitimate wealth,” a process that would lead to more inflation and more destruction.

http://www.youtube.com/watch?v=E-uoFxxCCMo&eurl

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 22:47:20 +0000

The Treasury Department has committed nearly $10 billion more than the $350 billion Congress has authorized to date for the financial-sector rescue package, which could constrain how the incoming Obama administration deploys the rest of the fund.

People who are using pawn shops pull up in Cadillacs and BMW’s

By: rolling_thunder

rolling_thunder — Wed, 31 Dec 2008 22:44:43 +0000

25 banks have failed to date and 200 more are on the watch list.

Since late 2006
312major U.S. lending operations have died.
I tried to post a list of them all but it went to spam 3 times.

By: LD

LD — Wed, 31 Dec 2008 20:47:54 +0000

Money is fungible so it is impossible to know how much is reserved and how much is being allocated.

Suffice it to say that the system as a whole needs to be recapitalized and that revenues generated during 2009 will be used to offset losses.

This massive capital injection is truly being used in an attempt to buy time.