Comments on: Obama To Take More Control Of Markets

By: artpa

artpa — Thu, 26 Mar 2009 22:48:47 +0000

Seems to me the whitehouse had congress write in the contracts (bonuses) clause into the AIG bailout just so they could do this from the outrage.

By: proreason

proreason — Thu, 26 Mar 2009 22:44:06 +0000

Wall Street is up because it is relieved that there is any kind of plan at all. The market is highly likely to fall as the challenges become obvious and as the moronistration flops around like a dead fish.

One of the things I’ve learned this time around is that uncertainty is a huge driver of market drops.

And regarding your comment about some finacial folks without principles, I will remind you that the financial industry worked just fine since the 30′s until the government decided to start dictating who should get loans. If you were a banker, and you were being forced into insane business practices, and you saw a way to make some short term profits before the bottom fell out, you would probably elect the same path. Blaming the industry is like blaming Jews who did shameful things to survive in the 30′s and 40′s.

The CRIMINALS in all of this are Drooling Barney and the boys, pure and simple. EVERY SINGLE THING that comes out about the financial industry is CYA by the greatest government criminals of all time.

By: haljett

haljett — Thu, 26 Mar 2009 22:23:45 +0000

Scary times indeed. While frustrated by the deeds of some financial folks without principles, it’s equally frustrating to see all bankers vilified. I can’t help but feel that we’re in for something akin to the French Revolution, myself.

It is amazing to me that in the face of this news that Wall Street ended up yesterday and today.

The only indication that there is still a modicum of uncertainty at the how DC is handling everything is gold. It’s still above $900 and continue to show strength.

I was watching the COMEX with the realtime widget ExactPrice ( http://www.learcapital.com/exactprice ) and it was stunning to see what happened to gold when Geithner made that comment slip about being open to a world currency. It shot up like crazy. After he clarified it the price came back down some but not completely. Tells me just how much uncertainty, or distrust, or fear – take your pick – there is in markets.

By: TwilightZoned

TwilightZoned — Thu, 26 Mar 2009 21:10:31 +0000

“The administration’s proposal, which will require congressional approval, would represent a major expansion of federal authority over the financial system. It would impose tougher standards on financial institutions judged to be so big that their failure would represent a risk to the entire system.”

Hummmm…the government is the biggest financial failure and causing the entire nation to be at risk. This is code for nationalizing the banks.

I realize during the 1980s Continental Illinois Bank was nationalized then later sold and something similar was done with the Savings & Loans in the 1990s. However, with everything that’s happening I suspect the true goal is for permanent nationalization.

By: proreason

proreason — Thu, 26 Mar 2009 17:07:56 +0000

The last 65 days remind me of my junior high days when there was some kind of event in the gym and the kids would mill around outside the doors until they were suddenly thrown open.

Then there would be a mad insane dash as the entire mob of kids ran, pushed and elbowed to claim seats next to their friends.

Now it’s like there is a pell-mell rush to implement every crazy policy that these nuts have been cooking up in their fetid brains for the last 5 decades.

By: pdsand

pdsand — Thu, 26 Mar 2009 16:41:42 +0000

“The administration’s proposal, which will require congressional approval”

I wonder how long that lasts…