Monday Open Thread: NYSE Edition

Until you start opposing government force in the form of WARS of conquest, you have little room for sarcasm. How's that program to tell foreign shepherds how to live at the point of a gun working out?

Yes, more taxes, thats the answer. Why don't we get the government out of the mortgage industry?

You failed to criticize Obama, Dodd, Frank, and all the other parasitic politicians who sucked up campaign contributions from your "parasitic" GS

Thanks for bringing a certain level of common sense to a discussion that will be overrun by irrational "Market" fanatic-supporters. The same ones that confuse "the Market" with the real economy and that the Market going up is some great benefit to Americans in general.

It was due to the government being hijacked by academic pinheads who never worked in their life selling snake oil about "Free Trade" that resulted in the elimination of our manufacturing base – something that these same pinheads refuse to even acknowledge is a problem! Funny, nearly all these pencil-necks in Academia live high on the hog in GOVERNMENT funded schools and stare at their navel and come up with BS "Free Trade" arguments. The vast majority of Americans knew it was wrong at the time but were still enamored with respect for these Academics. Hopefully that has played itself out. Even Bill Buckley jr. didn't seem to have much faith in these Academics according to one of his more famous quotes.

It wasn't through intervention but LACK of intervention that this happened – by lowering of tariffs!

Sick of the Obama regime? This podcast will make you feel better:http://www.cashbeechcroft.podomatic.com

From a rising star in the REAL conservative movement!

The NYSE is a critical part of our great land. However it’s relationship between Washington politicians, K-Street, and the MSM are alarming and will require eternal vigilance. For instance the Community Reinvestment Act (CRA) 1977 Jimmy Carter. This one piece of legislation set in motion the collapse of ’08 and our continued malaise to this day.

You pay a sales tax when you buy something. Why should stocks be exempt? Tobin Tax sounds good to me. If you are buying and holding stocks – the way the market is SUPPOSED to work and the way it is SOLD as working – then it will not affect you much. However, if you are like Goldman Sachs and just churning stocks to run up transaction fees and day trading, then it will. Sounds like a great idea to me.

There is nothing wrong with our system that better and better-trained SEC regulators couldn't fix. They're overwhelmed with volume without the resources to track events accurately.

There is also nothing wrong with our system that quick and sure justice followed by prison sentences for manipulators wouldn't fix.

The financial services industry which worked well for quite some time was turned into a casino where investment bankers (deal makers) were allowed to commingle commercial banks' deposits and other liquidity with their own as they embarked on exotic, untried, and unproven ventures to increase profits.

It is time to reinstall the Chinese Wall (Read: "The Glass-Steagall Act") between commercial banks' balance sheets and the completely different and far more volatile balance sheets of the investment banking industry. http://en.wikipedia.org/wiki/Glass%E2%80%93Steaga...

It is also time to flush "no doc" loans down the toilet they so richly deserve, and return to full verification of borrowers' financial condition and capacities to repay loans. The complete irrationality of "no doc" loans was so obvious that only financially-ignorant, or willfully complicit congressunits would have encouraged them. I tend to think that most of them fall into the latter category.

Commercial banks and other deposit-taking financial institutions need to return to the cardinal maxim by which they used to live: "First, protect the depositors' funds." Everything else is secondary.

How's that paying for others' loan defaults working out for everyone?

I don't know about an environmental agenda, but something should be done about the people gaming the system. The Market was created to capitalize businesses, not as some sort of open-air casino.

Soros and the obama administration are the ones trying to unravel our nation:

Hedge Funds Spark World Revolution
By Cliff Kincaid
May 10, 2010

The Marxists used to be the experts in exploiting human suffering for the purposes of sparking revolution. But the hedge funds are doing better than the Marxists.

Consider that the business publication Barron's has an article headlined on its cover, "A savvy hedge-fund manager reveals how to make money on Old World's woes." A better headline would have been "How to exploit human suffering." At a time when people are dying in Greece because of riots in response to economic problems, what kind of publication would openly advertise how to make money at the expense of others and profit from their misery?

But this is how the hedge fund short sellers and their apologists work.

First, our media claimed the stock market plunge last Thursday was a fat finger pushing the wrong key on a computer. That ridiculous assertion was laughable. Now, the absurd claim is that it might have been a cyber attack by some unnamed foreign adversary. A conspiracy theory is not needed to explain this. All available evidence points to the involvement of the hedge fund short sellers. These are people who specialize in selling short and then buying long, in order to make money at both ends of the transactions. Any financial analyst with a brain knows that the hedge fund short sellers operate this way. It is not a mystery.

If anything, the Goldman Sachs congressional hearings demonstrated this fact. These people can make money no matter what happens.

The result has been a loss of even more confidence in the system, putting the survival of American capitalism in jeopardy. It is something the Marxists have only dreamed about.

The on-line version of Barron's has a different headline over the article, which consists of an interview with Adam Fisher, the 38-year-old founder of Commonwealth Opportunity Capital. This headline says, "How to Make Money in a World of Risk." But the point is still the same―there is money to be made while the world―and eventually America―goes up in flames.

Fisher's partner and co-founder, Reagan Silber, competes in the World Series of Poker. No kidding.

While Fisher is betting on the collapse of the European Union's currency, major upheaval in the United States is not too far behind.

The Global Europe Anticipation Bulletin (GEAB), which predicted the current financial crisis, has been predicting a U.S default on some of its debts. The default has been temporarily postponed because of the unprecedented spending and issuance of debt on top of debt by the Obama Administration. It predicts the next debt crisis in Britain, to be followed inevitably by the United States when "a major crisis" will affect its public debt holdings.

Interestingly, while Fisher is quoted in Barron's as mostly talking about turmoil in Europe, he is full of praise for John Paulson, who saw "the forest for the trees" when he bet on a housing market collapse and made billions of dollars.
There are 4 more sections to this story. To read the remaining sections click here:
http://www.gopusa.com/commentary/ckincaid/2010/ck...

My husband and I knew the 1000 point drop was not some dingbat mixing up the word millions and billions. There is something going on with this regime every day. I guess, it was just another isolated incident, just like the oil rig explosion. O just sits back and waits a week, and then swoops in with the SWAT team. Now our friend big brother has to "fix" it with more regulation.

We need to be preparing for the worst, and praying for the best. I think the global economy is hanging by a thread and is being shored up because it's an election year. I don't see how long America can last with this kind of debt.

The article is parody – The trueth is that he is the scum of New England, an embarassment to the great State of Connecticut. He sleeps with the payday loan crooks, taking advantage of the poor. Now he is trying too hard to "reform" the industry he is supposedly the expert on. Me thinks the lady doth protest too much.

Randy, wars of conquest would result in the USA expanding it's boundaries and absorbing the countries we invaded. Have you received information that Iraq is no longer a sovereign nation? Or Afghanistan for that matter? Do you feel that we shouldn't be spending money on bringing Iraq's infrastructure into the 21st century, Or are you as stupid as we know you are?

Never mind, we all already know the answer to that.

that post had no common sense attached randy. If you buy stock that is worth selling for a profit, you're buying it at the wrong time. You know, Buy low, sell high. What part of that don't you understand?

Besides, wasn't it the libs who claimed that we are no longer in a recession, claiming that since the stock market rebounded, there's no cause for concern?

"When it drops in value, where does all that "money" go?"

Ummm…ok, it's really simple. If the value of the stock drops, the overall value of that company goes down. Meaning a lower return on investment (that's ROI to you plebians) for the stockholders. That's where the money goes. So, for you it's OK if a stockholder loses money on a deal, but if they make money, they should pay more taxes? You're an idiot.

Do not allow O'marxist to embed new obama Govt. agencies & Czars, with their Regulations, into our Financial Markets. Re-distribution of wealth will take off like wild fire. I don't trust anything they push and ram through with their created emergencies.

Force the S.E.C. to do their jobs, and double thier force if necessary, and lock some people up, if appropriate, but to allow obama, et.al. to duplicate their Health Care socialist methods in our Financial World would only insure

that their dream of total Re-distributions of wealth and control of America's Freedoms comes true, only in a fraction of the time it would have taken without Govt. embedded in our Financial Markets. No more power to this Administration!

They will create another "emergency" scenario and ram their Financial Socialist Bill through. Be afraid. We only need to look at how Obam-ites handled the Debt to GDP by driving it to 90%, in a short year, to see the extreme danger here. Do anything to block their Financial push.

"Do some research-Tobin Tax is another means to take our hard earned $ . . ."

OUR hard earned money? If by "our" you mean sleazy Wall Street insiders then I guess you're right. I also don't know if I would refer to millions of dollars made by buying and selling pieces of paper "hard earned." Why shouldn't Wall Street traders have to pay sales tax on their transactions just like the rest of us?

The majority of workers have their savings (i.e. 401K, IRA, etc) invested in stocks, that is what I meant by "OUR" you nimwitted proglodyte. Get a clue before you start ranting!

I think that Obama wants to be the king of the world. If Americans are stripped of everything, then the left thinks we will be forced to depend on the government for everything.

I am going to dress up as a Black Panther and beat them to the polls in November : ) LOL I'm sure I'll be intimidating with my 5 ft 4 vertically challenged frame!!

[...] » Monday Open Thread: NYSE Edition – Big Government [...]

And as far as name calling, it is okay for you to refer to people who work on wall street as sleazy, but you get offended when I call you out as a progressive. Thin skin?

Randy is more a xenophobe, anti-zionist, homophobic, NAZI, isolationist, conspiracy theorist, assmonkey troll.

Did I leave anything out Randy?

LOL! Good on ya' mate! Indeed, these people who buy in to the neocon outlook are rather silly – in their minds Wall Street traders "work hard." LOL! Work is not just activity….it is USEFUL activity. And these people don't MAKE anything. They just skim money out of the system.

Do you even know what a stock is? Do you know how they go up in value. A stock is ownership in a company that produces and that production is done by hard working people.

Maybe when you hit junior high you can take a class called ECONOMICS.

[...] » Monday Open Thread: NYSE Edition – Big Government [...]

Thanks for the link Stan, I've been watching this joke unfold – what I find so pathetic is all the marxist luvin dumbshits who buy into the social justice bullcrap, all the while turning a blind eye to the filthy rich pigs pulling the strings to toss us all into a tailspin -

You Go Girl!

I would amend your last statement to : A market not based in measurable goods and services is hard to pin down. I get what a derivative is, but it is the dotcom type sh!t you are talking about. Lets not forget that it is the govt. fault for our current mess. The Federal Reserve took the "capital" out of capitalism and turned it into a toy for politicians and the rich-b!tch friends to manipulate. Guess who benefits from that? Hint: not you & me.

ORahmses! Let my markets go! Set the economy free in all sectors, not just wall st and we will boom our way out of the unneeded problems we have now! Hell, you might even get reelected. Nah, your done.

“October: This is one of the peculiarly dangerous months to speculate in stocks in. The others are July, January, September, April, November, May, March, June, December, August and February.”

~~ Mark Twain

soros is a capitalist

[...] » Monday Open Thread: NYSE Edition – Big Government [...]

Excellent, Chile!

good one! I shall steal this and use it often, bwahahaha!

[...] » Monday Open Thread: NYSE Edition – Big Government [...]

[...] » Monday Open Thread: NYSE Edition – Big Government [...]

Commercial banks are supposed to take "loan risk," meaning they get a limited return in the form of interest rates on loans that are more often than not collateralized with assets that can be a secondary source of repayment if the borrower defaults. Therefore, they are supposed to take only loan risk, limited risk, when lending the money (i.e., from Mom and Pop depositors, company deposits, and lots of other deposits from people and companies looking for a 'safe' place to park their money) out.

Investment banks are supposed to take "investment risk" (theoretically 'unlimited risk') in which the entire amount is subject to loss, is only the money of the investors or money they borrowed ostensibly with collateral, and in return, they are entitled to unlimited return.

When the deposits of the commercial banks are commingled with investment banks' funds, the entire scheme of prudent exposure, and safe loans went out the door.

Back to your question having prefaces this with all that: The CRA was the first step down the slippery slope since it put into the hands of Community Organizers and others the means to extort the banks into making crappy mortgage loans which they unloaded by reselling them as fast as possible. Congress through Fannie and Freddie further polluted the loan pool by permitting "no doc" loans putting even more toxic loans out in the secondary market. When Glass-Steagall's most prudent element, separation of commercial and investment banks was thrown out, that further enabled liquidity to jump into the mortgage market. Investment bankers saw a means for real fast profits by buying the loans, packaging them up fast, and flipping them out the door, apparently without any recourse back to them, to investors, including major pension funds, insurance companies, financial institutions around the world, all of which should have done their homework, but they were relying on industry analysts for ratings. Those analysts allowed themselves to ignore the writing on the wall.

(I'm still at a loss as to why anyone with the tiniest bit of understanding of credit would ever allow non-verified mortgage loans become a major part of the mortgage pool.)

Back to your question again. CRA started it all, but several dumb moves along the way compounded the errors. When the Bush Administration tried in the earlier part of this decade to get Congress to rein in Fannie and Freddie and take a closer look at them, such financial geniuses as Barney Frank stopped them in their tracks. Frank was not the only one, but I single him out because he has now positioned himself as a reformer, vilifying Wall Street, when, in fact, he was one of the core causes of the magnitude of the problem – he obstructed reform long before the meltdown when it might have dealt with the problems before they went nuclear and polluted the entire world financial system, either with the loans themselves, or by scaring the hell out of global business so it pulled in its horns.

Saw a science documentary on "Dual / Parallel Universes",……………

I go into my old neighborhood bar to argue politics once in while,……….

Somehow a bridge has to be built,……..in order to truly save this country.

I gotta figure out how to translate all this Professor,……….THANKS.

This morning I received an e-mail from a HS classmate,………

seems we lost another fellow Vietnam veteran HS classmate to cancer.

Saw that Family Guy clip there Tex,…………..

going tomorrow to buy another flag for the coming Memorial Day,…..want it to be bright….

going to have a nice cold beer after I hang it on the pole in front of my house.

It is none other than Sondra Locke! Of course barry is a TOOL! lol