Comments on: Liveblogging (Sort Of) The Bailout Hearings

By: guest

guest — Tue, 23 Sep 2008 22:58:25 +0000

Adult?@#90…
My last post on this thread was more than 3 hours ago, and it wasn’t even about “killing anybody”.
As for your assertion, it (killing somebody) happened in India today.
I wouldn’t be so naive as to think it won’t happen here. These are strange and tumultuous times. Everyone is pointing the finger at the irresponsible Wall Street executives. It could get very personal indeed.
I wouldn’t care if they did get whacked anyway. It would do the system some good.
The Guy from Delaware

By: diablo

diablo — Tue, 23 Sep 2008 22:48:46 +0000

My summary of the hearings today:
The incoherence of the senators was only matched by the incoherence of Paulson and Bernanke.
Assume the position… the lobbyists have this one in the bag. Now lets go back to work and unfreeze those frozen markets.

By: guest

guest — Tue, 23 Sep 2008 22:34:50 +0000

I forgot to say: TGFD, stfu. Nobody is going to kill anyone over this. I know you’re excited by all your TV watching, but it’s quiet time now.

By: guest

guest — Tue, 23 Sep 2008 22:09:27 +0000

Bernanke: “As you know I am a student of financial crisis and financial history.”
…and now, he is the master

By: guest

guest — Tue, 23 Sep 2008 21:36:06 +0000

#85, your comment “Having said that, I am completely opposed to giving him extralegal powers. I’m willing to live through whatever may come before I’d abandon the Constitution.”
is exactly what the American people are saying loud and clear. Problem is that no one is hearing them.
#84, your comment “Bernake sees what Paulson is doing, one last rape before the crash, maybe if they print enough money everyone can wallpaper their houses that they do not own anymore with that grant from King Tresury Sec.
At least the walls will look nice.”
is wholly frightening. Are you saying that this is what has been going on for over a year?
Perhaps if this is even slightly true, we need to replace Paulson and Bernanke immediately.

By: guest

guest — Tue, 23 Sep 2008 21:24:22 +0000

What about section 8 of the proposed bailout? No judicial review what so ever?

By: guest

guest — Tue, 23 Sep 2008 21:16:03 +0000

I do not believe Paulson is doing any of this for personal financial gain. I believe Paulson knows Wall Street and sincerely believes that what is best for Wall Street is best for the country.
I think there is a deep streak of megalomania in Paulson. Like many a rich man, he has reached the point where he wants to be remembered for something other than his money. He’s already being compared to Hamilton. That’s heady stuff to walk away from, and I don’t think he will. I think he wants to achieve immortality.
I am 100% opposed to giving him or anyone else extralegal authority. His plan, which has no guarantee of working, violates the Constitution in a number of ways. My God, people, remember your heritage!

By: guest

guest — Tue, 23 Sep 2008 21:07:40 +0000

I don’t think Paulson is doing any of this for his personal financial gain. I do think he knows Wall Street, and mistakes its welfare for the welfare of the country.
There is something in Paulson that is deeply megalomaniacal. Like many a rich man, he aspires to be remembered for something other than his money. He’s already being compared to Hamilton. I don’t think he is going to walk away from the seduction of immortality.
Having said that, I am completely opposed to giving him extralegal powers. I’m willing to live through whatever may come before I’d abandon the Constitution.

By: guest

guest — Tue, 23 Sep 2008 21:05:21 +0000

@83
Paulson accepted Tresury position from the president.
I think Paulson realized what was going to happen, thats why he is Tresury Sec.
Reminds me of Kennedy when he cashed out before 1929.
I think Paulson has friends he wants to take care so they do not wack him.
Bernake sees what Paulson is doing, one last rape before the crash, maybe if they print enough money everyone can wallpaper their houses that they do not own anymore with that grant from King Tresury Sec.
At least the walls will look nice.

By: guest

guest — Tue, 23 Sep 2008 20:48:58 +0000

@ 71 -
I don’t believe he should be crown king. His plan needs oversight and transparency. However, the lack of those requirments does not make him a snake.
He is in an impossible position.
Paulson is worth over $500 million. If i were him i would tender my resignation tomorrow.
No matter what he does, most of the American public is going to see him as a self dealing player. Like short sellers he is going to scapegoated.
Enjoy Phil Gramm as the next Treasury Secretary

By: Investorcluzo

Investorcluzo — Tue, 23 Sep 2008 20:33:04 +0000

@GAnalYst – glad to see I can keep up with your teen-age nieces! btw, I’m not really worried about ss, but jane and joe 6-pack watching at home are. I just wrote it for the effect.
@TGFD – too long, didn’t read. but it looks like others have opined.

By: guest

guest — Tue, 23 Sep 2008 20:25:45 +0000

@80 I thought we, from time to time, combat inflation? You want to make inflation a policy?

By: guest

guest — Tue, 23 Sep 2008 19:59:56 +0000

@71:
Derivative means there is an underlying. In the case of RMBS the underlying is loan, the collateral of which is somebody’s house.
You’re suggesting a bimodal payoff distribution (high yield = +value; low yield = -value). And how does this apply to home values? It doesn’t. Home prices aren’t going to 0, nor are recovery rates.
If the govt is going to fuck with markets, they might as well stack the deck: buy these assets and then put a floor on home prices. You do that and the value of those derivatives will be much higher.

By: guest

guest — Tue, 23 Sep 2008 19:57:28 +0000

This fund should pare losses back to something that is survivable for the financial system, and let everyone else eat it.
Sure, it would be a bloodbath, but we would learn not to do this stupid @^&* again.
Paying anywhere near face for this slime is retarded.

By: guest

guest — Tue, 23 Sep 2008 19:48:38 +0000

@71
Extremely low number?
And I think that Paulson has enough money to sit around and watch birds.
Maybe he’s there trying to do his best to help the economy, I can’t imagine that he has a basement full of toxic assets he needs to unload…..and I don’t think that he can hold too much stock seeing that he’s the secretary of the the treasury.