SEARCH DEALBREAKER
Posted by guest, Sep 30, 2008 12:12PM
@1, because there are about 599,996 other people in her district who probably feel differently
Posted by guest, Sep 30, 2008 12:17PM
Also off topic-- just read this plan. I realize it has been out for a while now. Why are we not embracing this idea...it seems to make WAY more sense...
Posted by guest, Sep 30, 2008 12:20PM
2, oh yeah. I am sure the 20,000 employed at Wachovia felt differently, as did their families and friends, and the lawyers, accountants, consultants who feed on Wachovia, and the staff at Dean & Deluca, etc. I am sure they all wanted this shit to go down. Sue must go.
Posted by guest, Sep 30, 2008 12:20PM
What happened to the WB/MS deal?
My guess is that $9billion in preferred got in the way.
Posted by guest, Sep 30, 2008 12:26PM
@8 more like sideways cowgirl... totally awesome
irish people rule
Posted by guest, Sep 30, 2008 12:26PM
5 Same in Northern NJ. Wall Street is a big employer of their constituents, yet both congressmen (one R, one D) voted no.
Posted by guest, Sep 30, 2008 12:27PM
@4 because Hussman makes too much sense. Plus its hard to hide pork barrel projects in the plan but I am sure Congress could find a way.
Posted by fxquant, Sep 30, 2008 12:35PM
Why would the ECB preempt their scheduled meeting on Thursday? M. Trichet his merry band of arsebandits are too superior to join mere mortals such as BoC, SNB, BoJ and BoE. After all he has "the Single Currency".
Posted by guest, Sep 30, 2008 1:04PM
The Irish play Stanford on Saturday at Touch Down Baby Jesus Stadium. I don't think Fat Charlie Weiss has any plan to bail out the mic banks.
Potatoes. The damn Irish seem to have a major crisis every 100 years or so. Bloody hell, not again.
Posted by guest, Sep 30, 2008 1:06PM
I can see a typical congress person's response to Hussmanfund's open letter to them: "Too long. Didn't read." Can someone just shorten it down to a 3 page power point for them or will that not help?
Posted by guest, Sep 30, 2008 1:14PM
I hate to say this but our representatives need to bring in a couple of bankers and financial guys and sit them in separate rooms and have the representatives have the ability to go in and ask the all kinds of dumb questions until they understand what is going on and can effectively address the situation.
Posted by guest, Sep 30, 2008 1:30PM
Just curious how you think banks will raise capital in the public debt markets at a rate that makes sense should the gov. demand a "super bond?" Is the gov. just supposed to keep demanding issuance of "super bonds" with no limit until things stabilize? It's no secret that some of the assets these banks mark with value truly will be worth zero. That means continued asset erosion on the balance sheet and the continued need for capital.
Yes, there will be a point at which new capital is no longer needed but any plan needs to involved getting bad assets sold, even at fire sale prices, AND a capital injection.
I know for damn sure I won't give a dime to a bank that needs my capital as long as the gov. is senior to me and can demand more "super bonds" at anytime. Much like the "super pref." issue with AIG only higher up in the debt structure.
Posted by guest, Sep 30, 2008 1:38PM
Nonsense 18, this student loan security is worth face. Think of the human collateral.
Posted by guest, Sep 30, 2008 1:56PM
@20
Human collateral, huh? I like the idea. You don't pay your student loans and you get pulled from your bed in the middle of the night and bussed off to a work farm. Now we're talking!!
Posted by guest, Sep 30, 2008 2:03PM
I had mentioned the rate cut yesterday as the next logical step. The overnights though badl weren't as bad as they were previously, hope spring eternal. If we can get some good readings on the LIBOR we might weather this (+suspend mark to market and introduce a luxury item VAT in the us to offset a capital expenditure tax break).
On an unrelated note let me know if anyone knows of some developers/programmers that are looking for work.
happy hunting,
-C
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Posted by guest, Sep 30, 2008 12:08PM
Although not relevant to this post, how does 9th distrcit NC congresswoman Sue Myrick vote NAY on a bailout bill when her consituents include many senior and ex-senior banking officials in Charlotte such as Hugh McColl Jr, Ken Lewis, Ken Thompson, Steve Cummings?