Comments on: The Wall St. Model is Broken … and Won’t Soon be Fixed!! http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/ Sun, 27 May 2012 12:02:00 +0000 hourly 1 http://wordpress.org/?v=3.0.4 By: Cathy6224 http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1101632 Cathy6224 Mon, 29 Dec 2008 15:08:39 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1101632 Why don't our congress men and women, go 1 year without pay (lord knows they are all wealthy and can afford it), contribute that to the economy. Give average americans money to pay their bills instead of giving millions to big corporations. They also need to stop receiving pay for life regardless of how many terms they serve. That is ridiculous and no other job does that so why do these fools get away with it? Because we allow them to by not questioning them. Why don’t our congress men and women, go 1 year without pay (lord knows they are all wealthy and can afford it), contribute that to the economy. Give average americans money to pay their bills instead of giving millions to big corporations.

They also need to stop receiving pay for life regardless of how many terms they serve. That is ridiculous and no other job does that so why do these fools get away with it? Because we allow them to by not questioning them.

]]> By: Cathy6224 http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1101631 Cathy6224 Mon, 29 Dec 2008 15:07:26 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1101631 Why don't our congress men and women, go 1 year without pay (lord knows they are all wealthy and can afford it), contribute that to the economy. Give average americans money to pay their bills instead of giving millions to big corporations. Why don’t our congress men and women, go 1 year without pay (lord knows they are all wealthy and can afford it), contribute that to the economy. Give average americans money to pay their bills instead of giving millions to big corporations.

]]> By: justsomeone http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1030203 justsomeone Thu, 13 Nov 2008 03:09:50 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1030203 If I have to undergo a hard credit check to deposit/open a CD & allow them to photo copy my ID then I think total transparency for the bank holding companies is in order. Legislation now: everything on the books, criminalize the hiding of off book "assets" of all publicly traded companies. If I have to undergo a hard credit check to deposit/open a CD & allow them to photo copy my ID then I think total transparency for the bank holding companies is in order. Legislation now: everything on the books, criminalize the hiding of off book “assets” of all publicly traded companies.

]]> By: justsomeone http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1030147 justsomeone Thu, 13 Nov 2008 02:43:01 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1030147 I agree, a lower cap gains rate would atleast open the door for more revenue to flow into the Treasury, but Buffett & Obama want things to be "fair", so we can forget that. Guarantee a stable tax rate? Our government wouldn't know how to do that even in good times, plus it's customary to raise taxes during war & we're in 2 of 'em. Spending freeze? With millions of boomers retiring en mass how would that even be possible? I'm in dismay over the folks who think union bustin' is an answer, no collective bargaining for labor but wide open wild west hedging for the billionaire's clubs is acceptable? Sure, just keep allowing these rapacious capitalists to zip around the markets crashing & burning stocks, ruining companies (even the ones with good fundamentals) & lives, that'll work. I say find a way to take them down now! Completely outlaw naked short selling, bring back the uptick rule & a some perp walks could do wonders to put the brakes on & maybe slow the slide. I can't believe everything these freaks have done is legal. No more fast tracking of anything. How naive am I? I agree, a lower cap gains rate would atleast open the door for more revenue to flow into the Treasury, but Buffett & Obama want things to be “fair”, so we can forget that. Guarantee a stable tax rate? Our government wouldn’t know how to do that even in good times, plus it’s customary to raise taxes during war & we’re in 2 of ‘em. Spending freeze? With millions of boomers retiring en mass how would that even be possible? I’m in dismay over the folks who think union bustin’ is an answer, no collective bargaining for labor but wide open wild west hedging for the billionaire’s clubs is acceptable? Sure, just keep allowing these rapacious capitalists to zip around the markets crashing & burning stocks, ruining companies (even the ones with good fundamentals) & lives, that’ll work. I say find a way to take them down now! Completely outlaw naked short selling, bring back the uptick rule & a some perp walks could do wonders to put the brakes on & maybe slow the slide. I can’t believe everything these freaks have done is legal. No more fast tracking of anything. How naive am I?

]]> By: Kelligesq http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1030015 Kelligesq Thu, 13 Nov 2008 01:47:42 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1030015 I didnt know whether to laugh, scream, or curse at Paulsen on the Tv today when he said "manufacturing is very important to this country" REALLY........??? you never would have known it by the way he and his republican friends certainly aided by the democrats, and the US Chamber of Commerce (which is not a govt agency at all) have been shipping the manufacturing jobs and companies out of this country. And all of a sudden he/they realize manufacturing (when it comes to GM) is very important to this country. After 30 years of moving all manufacturing out of this country. I agree with those upthread. <strong>BUY AMERICAN.</strong> and my next thought is how our pockets and pocketbooks are being picked - robbed - taking our money and giving it away to the rich, to Wall Street, to the corporations, and the multinantionals without our agreement, to save them from bankruptcy while screwing again the citizens they sold those subpprime mortgages to, and allowing American citizens to not only go into bankruptcy but by the millions being thrown out on the street as the banks foreclose on unpayable ballon mortgages. We the taxpayer will be paying these debts for the next 50 to 100 years and more, because they are govt debts accruing interest - that the citizen taxpayer is supposed to pay off - forever. If someone took your credit card without your permission and maxed it out - what would you do? Same difference. Theft. UNLESS WE CHOOSE NOT TO PAY TAXES FOR THE US GOVT TO FURTHER BOOST THEIR BIGGEST CONTRIBUTORS ON WALL STREET. Yep. No jobs, no taxes for the coffers to be further thrown away, let it all fall....get rid of the Federal Reserve (which also is not a govt agency but a conglomerate of private bankers called Wall Street) - hello Morgan (the first to be bailed out with our money without asking us) and Chase Rockefeller - The Rockefeller's need our bailout money? Pluck em all. Bush Jr put the final pieces together for his father's New World Order...One Global Government....doesnt seem to have worked too well...his father's and David Rockefeller's and Kissinger's ideas - The Trilateral Group, The Bilderburgers...the hubris ! They have brought the entire world economy down. In a way it's good because it illustrates their one world government, run by the bankers and multinationals of the world who they proclaimed were far better equipped to run the world than the peasants by voting, doesnt work. I do think what is coming next is something similar to what FDR did. Fiat money will be declared null and void - and all gold will be confiscated - the country(and all countries)will go back on the gold standard backing up the paper money. Then they'll declare a new money, similar to the Euro for Europe, backed up by the people's gold melted down into gold bars. Bush tried to push the Amero...(he also tried to push that Social Security funds should be invested in the stock market- LOL) I wouldn't be surprised if the new money isn't being printed up already. If any one has gold it might be a good idea to bury it - one other thing - back in the 30's when people had to turn in all their gold - they were not given in paper dollars what the gold was worth. Why do Americans passively sit on their asses and allow this to happen? the last time they refused to pay unreasonable taxes was the start of the American Revolution. It's time. I didnt know whether to laugh, scream, or curse at Paulsen on the Tv today when he said “manufacturing is very important to this country” REALLY……..???

you never would have known it by the way he and his republican friends certainly aided by the democrats, and the US Chamber of Commerce (which is not a govt agency at all) have been shipping the manufacturing jobs and companies out of this country.

And all of a sudden he/they realize manufacturing (when it comes to GM) is very important to this country. After 30 years of moving all manufacturing out of this country.

I agree with those upthread.

BUY AMERICAN.

and my next thought is how our pockets and pocketbooks are being picked – robbed – taking our money and giving it away to the rich, to Wall Street, to the corporations, and the multinantionals without our agreement, to save them from bankruptcy while screwing again the citizens they sold those subpprime mortgages to, and allowing American citizens to not only go into bankruptcy but by the millions being thrown out on the street as the banks foreclose on unpayable ballon mortgages.

We the taxpayer will be paying these debts for the next 50 to 100 years and more, because they are govt debts accruing interest – that the citizen taxpayer is supposed to pay off – forever. If someone took your credit card without your permission and maxed it out – what would you do? Same difference. Theft.

UNLESS WE CHOOSE NOT TO PAY TAXES FOR THE US GOVT TO FURTHER BOOST THEIR BIGGEST CONTRIBUTORS ON WALL STREET.

Yep. No jobs, no taxes for the coffers to be further thrown away, let it all fall….get rid of the Federal Reserve (which also is not a govt agency but a conglomerate of private bankers called Wall Street) – hello Morgan (the first to be bailed out with our money without asking us) and Chase Rockefeller – The Rockefeller’s need our bailout money?

Pluck em all.

Bush Jr put the final pieces together for his father’s New World Order…One Global Government….doesnt seem to have worked too well…his father’s and David Rockefeller’s and Kissinger’s ideas – The Trilateral Group, The Bilderburgers…the hubris !

They have brought the entire world economy down. In a way it’s good because it illustrates their one world government, run by the bankers and multinationals of the world who they proclaimed were far better equipped to run the world than the peasants by voting, doesnt work.

I do think what is coming next is something similar to what FDR did.

Fiat money will be declared null and void – and all gold will be confiscated – the country(and all countries)will go back on the gold standard backing up the paper money. Then they’ll declare a new money, similar to the Euro for Europe, backed up by the people’s gold melted down into gold bars. Bush tried to push the Amero…(he also tried to push that Social Security funds should be invested in the stock market- LOL) I wouldn’t be surprised if the new money isn’t being printed up already.

If any one has gold it might be a good idea to bury it – one other thing – back in the 30′s when people had to turn in all their gold – they were not given in paper dollars what the gold was worth.

Why do Americans passively sit on their asses and allow this to happen?

the last time they refused to pay unreasonable taxes was the start of the American Revolution.

It’s time.

]]> By: Mr. X http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029535 Mr. X Wed, 12 Nov 2008 22:50:21 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029535 I read the whole thing, but the article seems to miss the main point that creating money out of nothing is the real culprit. When you get a loan, the bank simply types in a number in your bank account. They don't actually get it from anywhere. It was bad enough when banks decided the money supply, but once credit cards companies and third party lending institutions got into it, you saw an influx of "fake" cash. And the more of something you have, the less it's worth. The devaluation of the dollar should have been the first indication. But loans are used to pay older loans. It's like paying one credit card with another credit card. That's how you pay the interest. As long as new loans keep being handed out, everything is great. But without real assets, this system was bound for failure. When loans go into default, older loans don't get paid off. This causes a domino effect. This is why economies can't handle downturns. Really, why are downturns so drastic? Loans rule the day and more loans are the only way to pay off the interest on older loans. When loans stop, everything falls apart. I read the whole thing, but the article seems to miss the main point that creating money out of nothing is the real culprit. When you get a loan, the bank simply types in a number in your bank account. They don’t actually get it from anywhere. It was bad enough when banks decided the money supply, but once credit cards companies and third party lending institutions got into it, you saw an influx of “fake” cash. And the more of something you have, the less it’s worth. The devaluation of the dollar should have been the first indication.

But loans are used to pay older loans. It’s like paying one credit card with another credit card. That’s how you pay the interest. As long as new loans keep being handed out, everything is great. But without real assets, this system was bound for failure. When loans go into default, older loans don’t get paid off. This causes a domino effect. This is why economies can’t handle downturns.

Really, why are downturns so drastic? Loans rule the day and more loans are the only way to pay off the interest on older loans. When loans stop, everything falls apart.

]]> By: drkate http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029424 drkate Wed, 12 Nov 2008 22:06:26 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029424 do you have a link or source for his registration at Occidental. I've thought that is why his records were sealed. Any source appreciated! do you have a link or source for his registration at Occidental. I’ve thought that is why his records were sealed. Any source appreciated!

]]> By: POdVet http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029390 POdVet Wed, 12 Nov 2008 21:52:30 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029390 Yes the fox is gaurding the hen house and Obama wants to take away the farmers gun just in case he notices something is wrong! Yes the fox is gaurding the hen house and Obama wants to take away the farmers gun just in case he notices something is wrong!

]]> By: rolling_thunder http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029373 rolling_thunder Wed, 12 Nov 2008 21:47:39 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029373 I could have gotten my health care paid for a whole year under Mac's plan just by having a tax break. Now we get socialist health care that is supposedly free.....but it's NOT! Taxpayers will pay MORE taxes..and the stimulus check goes to people who do not need it. I could have gotten my health care paid for a whole year under Mac’s plan just by having a tax break.
Now we get socialist health care that is supposedly free…..but it’s NOT! Taxpayers will pay MORE taxes..and the stimulus check goes to people who do not need it.

]]> By: rolling_thunder http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029365 rolling_thunder Wed, 12 Nov 2008 21:42:42 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029365 Our economy is based on borrowing and credit, is what she alludes to. We do not have an economy based on money earned and saved...the inevitable is a depression. But Washington cronies are so filthy rich that they think there is no danger since they are doing well and their pockets are jingling from bamaboozling the citizens of USA. Mac would have listened to this proposal in a heartbeat but Hillary went and got her supporters to vote for a crook. Once a crook, always a crook. Our economy is based on borrowing and credit, is what she alludes to. We do not have an economy based on money earned and saved…the inevitable is a depression. But Washington cronies are so filthy rich that they think there is no danger since they are doing well and their pockets are jingling from bamaboozling the citizens of USA.

Mac would have listened to this proposal in a heartbeat but Hillary went and got her supporters to vote for a crook. Once a crook, always a crook.

]]> By: waldenpond http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029350 waldenpond Wed, 12 Nov 2008 21:37:00 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029350 My understanding is the money is being used to buy stock rather than crap mortgage assets. I was pissed my money was going to be used to buy crap paper that no one was going to be able to untangle. Other countries are using the money to buy stock... they also added many conditions to participate in the program such as: no dividends to shareholder, citizen representation on the Co. Boards etc, limits on compensation. The US has no conditions which is why AIG is still having parties, there are no limits on compensation and banks are using my money to buy up other banks. You aren't just bailing out the auto industry (apparently, just this week, our govt has decided manufacturing jobs are important) you are now bailing out the credit card industry.... your neighbor with a garage full of crap they were never in a position to afford? thanks you. :) I saw the estimate on the cost of US auto industry shut down. Seemed high. But that is all inclusive. How about showing the cost to ONLY the US of the industry using a bankruptcy option and re-writing it's debt and getting out from under crap contracts it can't afford? Why isn't there an analysis of the impact on JUST the US? Cars aren't really made in the US, they are assembled in the US. I wouldn't be surprised if the biggest lobby right now are foreign govts. Outsource US parts manufacturing to other countries....these other countries must be pressuring the US govt to use my money to bail their auto industry @sses out. My understanding is the money is being used to buy stock rather than crap mortgage assets. I was pissed my money was going to be used to buy crap paper that no one was going to be able to untangle. Other countries are using the money to buy stock… they also added many conditions to participate in the program such as: no dividends to shareholder, citizen representation on the Co. Boards etc, limits on compensation. The US has no conditions which is why AIG is still having parties, there are no limits on compensation and banks are using my money to buy up other banks.

You aren’t just bailing out the auto industry (apparently, just this week, our govt has decided manufacturing jobs are important) you are now bailing out the credit card industry…. your neighbor with a garage full of crap they were never in a position to afford? thanks you. :)

I saw the estimate on the cost of US auto industry shut down. Seemed high. But that is all inclusive. How about showing the cost to ONLY the US of the industry using a bankruptcy option and re-writing it’s debt and getting out from under crap contracts it can’t afford? Why isn’t there an analysis of the impact on JUST the US? Cars aren’t really made in the US, they are assembled in the US. I wouldn’t be surprised if the biggest lobby right now are foreign govts. Outsource US parts manufacturing to other countries….these other countries must be pressuring the US govt to use my money to bail their auto industry @sses out.

]]> By: rolling_thunder http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029339 rolling_thunder Wed, 12 Nov 2008 21:31:05 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029339 Anyway, I read this yesterday and it was cute.. Now we have been bamboozled again but this time from Pelosi and her cronies. The bailout money that was supposed to be for buying up banks bad assets so they could be able to have money to loan...is not going to do that now......so how are the banks going to operate? They have no liquidity and no money to loan..pisses me off..we have been tricked as they are saying the bailout money will go to non lending institutions...I told you it would go right back into these thugs pockets. I'm not bizarre. This whole government is bizarre. Barky's cabinet contains all the crooked thugs who got us into this economical mess...just great! The fox is guarding the hen house.. Anyway, I read this yesterday and it was cute..
Now we have been bamboozled again but this time from Pelosi and her cronies. The bailout money that was supposed to be for buying up banks bad assets so they could be able to have money to loan…is not going to do that now……so how are the banks going to operate? They have no liquidity and no money to loan..pisses me off..we have been tricked as they are saying the bailout money will go to non lending institutions…I told you it would go right back into these thugs pockets. I’m not bizarre. This whole government is bizarre.
Barky’s cabinet contains all the crooked thugs who got us into this economical mess…just great! The fox is guarding the hen house..

]]> By: rolling_thunder http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029316 rolling_thunder Wed, 12 Nov 2008 21:23:14 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029316 blog.puma.org is taken over by the bots. It takes you to a site address that says snap picture and then goes to the site but all the while you are still on the site...something like snap a picture..if you go there...watch the URL when the page opens... It snaps a picture of your destop and I don't know what else..Anyway they have a new server and it's puma.org without the word blog. blog.puma.org is taken over by the bots. It takes you to a site address that says snap picture and then goes to the site but all the while you are still on the site…something like snap a picture..if you go there…watch the URL when the page opens…
It snaps a picture of your destop and I don’t know what else..Anyway they have a new server and it’s puma.org without the word blog.

]]> By: an observer http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029243 an observer Wed, 12 Nov 2008 20:55:58 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029243 My theory of capitalism, free trade, and the let’em fail position: I believe that no matter what the area, let’s use food and the machine tool industry for the sake of discussion, you allow capitalism to work. However, the minute our capability in a given area drops below that needed to defend ourselves then I believe in regulation. I believe in establishing a floor below which we will not allow a given capability to fall due to national security. An in house machine tool capability (auto industry) is essential to our long term national security. (Are not the F22 wiring harnesses being assembled in Mexico to avoid paying Fort Worth wages?) So the question is not: how screwed up are American auto makers, it is, do we want a domestic machine tool industry? You know, free trade in the minds of Milton Friedman / Phil Graham is really economic anarchy. We don’t allow anarchy in government, why should we in economics? The middle of the road is always best. AKA, balance! My theory of capitalism, free trade, and the let’em fail position:
I believe that no matter what the area, let’s use food and the machine tool industry for the sake of discussion, you allow capitalism to work.
However, the minute our capability in a given area drops below that needed to defend ourselves then I believe in regulation.
I believe in establishing a floor below which we will not allow a given capability to fall due to national security.
An in house machine tool capability (auto industry) is essential to our long term national security.
(Are not the F22 wiring harnesses being assembled in Mexico to avoid paying Fort Worth wages?)
So the question is not: how screwed up are American auto makers, it is, do we want a domestic machine tool industry?
You know, free trade in the minds of Milton Friedman / Phil Graham is really economic anarchy.
We don’t allow anarchy in government, why should we in economics?
The middle of the road is always best.
AKA, balance!

]]> By: TeakWoodKite http://www.noquarterusa.net/blog/6003/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029211 TeakWoodKite Wed, 12 Nov 2008 20:37:15 +0000 http://www.noquarterusa.net/blog/2008/11/12/the-wall-st-model-is-broken-and-wont-soon-be-fixed/#comment-1029211 Thanks William, that 63 trillion is a pile of o'. I heard this am if I under stood Paulson, at one point he said that the feds are still going to support "secutitized mortagaes". ie, they want to keep digging. UG! Thanks William, that 63 trillion is a pile of o’.

I heard this am if I under stood Paulson, at one point he said that the feds are still going to support “secutitized mortagaes”.

ie, they want to keep digging. UG!

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