OT - Financial

[BU RICK]

We might be slowly starting to turn the corner up on some very recent statements and ideas. No one wants the banks to be nationalized, and it appears that they are not going to be - but who knows what these regulators are up to. They should have been doing their job and regulating several years ago.

http://finance.yahoo.com/news/White-House-tries-to-end-bank-apf-14429693.html

http://news.yahoo.com/s/nm/20090223/bs_nm/us_markets_stocks_1

The last article shows our stock futures up pretty good in Europe.

[tornado]

more major corporations filing bankruptcy...

http://www.bloomberg.com/apps/news?pid=20601103&sid=ao22AeYHR5LA&refer=news

http://www.nytimes.com/2009/02/23/business/media/23register.html

[thefish7]

Are newspapers really "major corporations?"

[Beninator]

but who knows what these regulators are up to. They should have been doing their job and regulating several years ago.

Sad to say but very true!

[tornado]

Are newspapers really "major corporations?"

not any more

[Murph]

We might be slowly starting to turn the corner up on some very recent statements and ideas. No one wants the banks to be nationalized, and it appears that they are not going to be - but who knows what these regulators are up to. They should have been doing their job and regulating several years ago.

http://finance.yahoo.com/news/White-House-tries-to-end-bank-apf-14429693.html

http://news.yahoo.com/s/nm/20090223/bs_nm/us_markets_stocks_1

The last article shows our stock futures up pretty good in Europe.

I hope it's true, its going to take a long time to clean up the mess from the incompetence of the last 8 years.

[SFP]

I hope it's true, its going to take a long time to clean up the mess from the incompetence of the last 8 years.

The corporate welfare state of incompetence has been going on for much longer then 8 years. Little by little, big business with their lobbyist friends have been able to in-rich their coffers while destroying our economic engines of small business and small farms. I'm afraid that the economic package will only be restoring big business with opportunities while SMB community will be fighting for the scraps left behind. If we truly want change then we need to give the small efficient guy every opportunity to compete on an even playing field.

[BU RICK]

Well, it's been another disappointing day and our futures were looking so bright in Europe this morning.

I'm not offering any financial advice but look at these 4 stocks: FRE, FNM, C, BAC. And then look where they were at 2 years ago, do a two year chart. They are now high risk, not that they weren't two years ago or a year ago. And I suppose could go to zero. I've loaded up with a boatload of shares on one of them at an average price under a dollar but no where near close to all in. There is a possiblity of great gain and a possibilty of losing all of a predetermined amount.

[tornado]

the present mess is largely due to fairly recent changes in the banking industry,
causing many poorly conceived loans to go sour and major financial institutions to go broke.
The industry has been ruled and regulated by the House banking committee under Barney Frank's control.
And recall, both houses of congress are under the same control and have been for some time...

[BU RICK]

I lay it all on Greenspan. When Bush came into office, I'm thinking please get rid of him, please get rid of him. Many, many people wanted Greenspan out as Fed Chairman when Bush came in but Bush didn't do it. When you're the Fed Chairman you can't manage your own money which is probably the same for other governmental officals.
So what did Greenspan do - he put his money in a blind trust in bonds and then took interest rates down to 1%, which means the value of his 7-10% interest rate bonds went up hugely in value - he made a fortune by screwing everyone else.
Who did he screw, the retired folks who need an interest rate on their CD, he screwed the banks by making them over zealous about makeing dumb loans, he screwed the stock market by creating a bubble with the 1% rate and finally he screwed homeowners whos homes have gone down in value. And the amazing thing is this is what the Japanese did several decades ago (taking rates down to almost zero) and their market crashed and has not really recovered except for a brief shot. And he did not learn anything from that. I kept saying raise rates, raise rates. Well, I'll tell you Greenspan is a very wealthy man now from his rates/bond play and he's probably making $100,000 a speech. I hope he goes down as the worst Fed Chairman in history.

[Braves4Life]

I can't stand George Soros but he does know money...............
__________________________________________________ _______________________
NEW YORK (Reuters) - Renowned investor George Soros said on Friday the world financial system has effectively disintegrated, adding that there is yet no prospect of a near-term resolution to the crisis.

Soros said the turbulence is actually more severe than during the Great Depression, comparing the current situation to the demise of the Soviet Union........... "We witnessed the collapse of the financial system," Soros said at a Columbia University dinner. "It was placed on life support, and it's still on life support. There's no sign that we are anywhere near a bottom."

His comments echoed those made earlier at the same conference by Paul Volcker, a former Federal Reserve chairman who is now a top adviser to President Barack Obama.

Volcker said industrial production around the world was declining even more rapidly than in the United States, which is itself under severe strain.

"I don't remember any time, maybe even in the Great Depression, when things went down quite so fast, quite so uniformly around the world," Volcker said.

__________________________________________________ _______________________

I'd also spend some time reading this guy:

http://www.europac.net/#

I'm calling for DOW 6400; S&P 650 ish............ Things will get worse before they get better. Just wait until the effects of the layoffs are felt.

[SFP]

I'm hoping that the capital market loosens up a bit but I sincerely doubt that any capital will see itself goes towards Main Street and any business that could be running efficiently. Instead capital will be going to organizations that have high overhead, inefficient processes, out dated bloated labor force and to the big business and unions that put the Democrats in office. Business as usual that will criple any chance of coming out of this mess anytime soon.

California will be recieving their share of the plan and it will be going to the state capital where labor union bosses own the Democratic party. In simple words the union that control the prison system here are asking for a raise after recieving over a 30% increase the last 3 years. I wonder where contributions for elections came from.

There was a chance for change but IMO it is business as usual! Don't get me wrong GW was just paying off other guys!

[SFP]

Here's another example of inefficient behavior.

http://www.marketwatch.com/news/stor...%7D&siteid=rss
Top Wall Street exec Rattner on Treasury auto team

He is brought in to examine the long-term viability of the auto industry. Do you think they would have done this prior to handing them $17 Billion!

That money could have been used to help the workers bridge the gap of retirement for some but better yet the funds should have been used for retooling and retraining of people for other industries that have a bright future.

[Murph]

the present mess is largely due to fairly recent changes in the banking industry,
causing many poorly conceived loans to go sour and major financial institutions to go broke.
The industry has been ruled and regulated by the House banking committee under Barney Frank's control.
And recall, both houses of congress are under the same control and have been for some time...

Silly me, I forgot that all bad things that happen in the world are because of democrats and all good things that happen are because of republicans.

[SFP]

Silly me, I forgot that all bad things that happen in the world are because of democrats and all good things that happen are because of republicans.

Both parties are to blame. I have a question. What is worse regulations without over sight or no regulations.

My answer is no regualtion because at least you know that you need to look into your dealing a little closer. Regulations without teeth just gives you a false sense of security. It is sort of like who is more dagerous the guy that you know lies or the guy who gives you half truths.