Posted by guest , Nov 20, 2008 7:01PM

Doh! 2nd

Posted by guest , Nov 20, 2008 7:15PM

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Posted by guest , Nov 20, 2008 7:20PM

Maybe he should start his former firm and the conflicts they do -- -- hmmmmm is it wrong to front run your clients? is it wrong to plunge your prime brokerage clients? is it wrong to publish reasearch upgrades and downgrades based on your prop desk buys and sells? is it wrong to buy off all of congress and politicians and get the inside scoop on legislation. Is anyone else as pissed off as me that these GS guys bailed themselves out after fucking Americans with unreal leverage, plunging all the stocks they knew would fall as their house of cards unwound (known only to them bc they created this horror show), they are getting all the US tax payer money via AIG as they get paid for their bets against CDS etc, they cornered the commodity market to make mints both ways, etc etc etc??? And the balls to then pay themselves off with bonuses with my tax money after we bailed them out - - well I think we need a good old fashion lynching of these crims & throw in their congressional cronies as well!

Posted by guest , Nov 20, 2008 7:26PM

I don't think Paulson is corrupt - you con't codemn everyone who ever worked at GS just for working there.

He certainly doesn't fit the profile of a banker who only cares about money - he lives a lowkey lifestyle, no fancy summer homes to impress people, plans to give most of his money to charity, didn't take the job when Bush first offerred it to him.

His worst trait is probably just arrogance. But I think Blankfein is dishonest and corrupt.

Posted by guest , Nov 20, 2008 8:35PM

hah....charlie talking about the $5 rule with respect to Citi...CNBC so seriously pay Dealbreaker a royalty.

Posted by guest , Nov 20, 2008 9:07PM

Private Equity and Modern Pirate funding... http://www.thedailymash.co.uk/index.php?option=com_content&task=view&id=1405&Itemid=59

Posted by guest , Nov 20, 2008 9:14PM

Plain and simple, Henry Paulson is an ass. When he became Treasury Sec'y, he moved all of his assets from GS stock to Treasuries - with no capital gains tax. The guy has no exposure to the US economy and like a typical Goldmanite he's been pumping his own book (fucking over his firm in the process).

For him to stand there today and claim that he lacked the authority to save Lehman - and that Lehman was not the proximal cause of this crisis - is a bald lie.

Lehman, like BSC, FNM, AIG, and C, was too big and to entwined to fail. Should Lehman have gotten so big? No way - but who allowed that to happen? The government regulators, including Treasury.

Lehman's bankruptcy is what froze interbank lending because no bank is going to make an unsecured term loan to another bank when there is any risk of default. Would you make an unsecured 3 mo. loan to C at Libor? No way - there is a sufficiently non-zero chance of default.

What was Paulson's response to the Lehman bankruptcy? "You should have seen it coming." He stood there and said it on CNBC - BSC was a surprise, but Lehman's counterparties had plenty of time to see that disaster in the making. Well that little ditty caused a contraction in lending across the board - suddenly everyone sees risk no matter who comes asking for a loan.

Paulson's quixotic - no, pathological - quest to wring the "moral hazard" and "excess leverage" out of the system has led to the biggest asset-price deflation since the Depression which has started a vicious downward spiral that has been feeding on itself.

In every phase of his tenure as Secretary, Paulson has shown an utter inability to think through the consequence of his actions or his words. He told us all that FNM and FRE were solvent - until he seized them. He told us the banking system was sound - until Lehman went belly up. Then he told us no bank was too big to fail - only to backtrack and say the government would back every systemically important bank.

Perhaps the most egregious examples of his lack of forethought was his disaster of a trip to Capital Hill to get the TARP passed and his negligent use of the TARP funds. What kind of moron - a word I chose deliberately - would say at a press conference that he will not buy any of the troubled assets that he wanted authority to buy - and that he would not ask for the second $350B?

The latest legs down in the market can be attributed directly to Paulson's stupidity in telling the market there would be no additional injections of capital until February. If the market knew ol' Hank was sitting on the sidelines with a warchest of $350B, do you think they would be so afraid of the solvency of C and GS? Or if they thought the US Taxpayer might buy up a few of those troubled assets - thereby establishing a floor for other investors - maybe we wouldn't see financials fall more than 20% in the last week?

Never in my life - not during the recession of '81 or the Crash in '87 or post-9/11, or in the dotcom bust have I had more than a passing thought that the US economy could cease functioning. But thanks to one Henry Paulson, I am deathly afraid - to the point of near paralysis - that the US is on the precipice of financial implosion.

Today, when I heard Paulson's press conference at the Reagan Library, I was disgusted, enraged, and really frightened by the way he chastised the US financial system and the zeal with which he appears determined to destroy it and remake it the way he wants.

When Paulson was at GS, I don't remember any commentary about excess borrowing or leverage. And, correct me if I am wrong, but during the bulk of his tenure at Treasury I don't recall any policies intended to guide leverage or borrowing down.

An ingenious Treasury Secretary - and maybe even an average one - would have found a way to let the air out of the bubble slowly, working with banks to decrease leverage and earn their way out off troubled assets.

A compassionate - or heck, even observant - Treasury Secretary would see the damage his policies are inflicting on the financial system and do something to mitigate them.

No, we are stuck with a free market zealot who has no regard for the deflationary pain being inflicted across the country. How can one possibly reconcile flooding the banking system with cheap capital (a move I commend), yet applying essentially NO constraints on how that money might be spent or what pay executives might lavish upon themselves with a furious belief that providing fiscal stimulus to the economy writ large, or support to troubled industries and individuals is morally reprehensible.

I am a lifelong Republican - really a Libertarian - and a free marketeer. But I know that decisive action is needed when the entire economy is imperiled because the system has failed - especially when that failure is a result of complicity and negligence of the very regulators charged with protecting the public.

For eight years I have defended the Bush Administration against a constant onslaught of criticism from my leftist friends. But I have been forced to abandon that position given the destruction of the financial system.

I understand that the seeds of this problem were sown long before Bush became President. But the horrific response to this crisis is inexcusable. It is an indefensible failure of government if a small investor who has religiously saved, dollar-cost-averaging into low-cost index funds for 15 years has a annualized rate of return of -4%.

Henry Paulson's hubris ensures that the George W. Bush Administration will go down in history as America's worst.

Posted by guest , Nov 20, 2008 9:15PM

GASBAgarinoooooooooooo wHayt have you got?

Posted by guest , Nov 20, 2008 9:22PM

NEWS :

Only $150 billion of $850 billion of Cs deposits are insured by FDIC.

Peeps are clogging the internet site and tenting out before ATMs

Posted by guest , Nov 20, 2008 9:27PM

Citi Weighs Options, Including Firm's Sale Subscriber Content

Citigroup began weighing the possibility of auctioning off pieces of the company or even selling itself outright. Shares fell a further 26%.

- From the WSJ website.

I hope Vik has taken enough Citi golf shirts to last him through the upcoming lean years...

Posted by guest , Nov 20, 2008 9:57PM

@11

yeah dick no shit. Who doesn't know it fell 26% today.

News is the after hours is up because something is cookin.

@10

Listen dick number 2, FED will not let the company fail. No one is running to C ATMS getting their money.

Cocks.

Posted by guest , Nov 20, 2008 9:58PM

@11- CDS spreads haven't moved. Nothing is going to happen to the company.

Posted by guest , Nov 20, 2008 10:04PM

@12 - 11 here. Sorry for the extra shit you had to taste on my dick tonight but your associate was ahead of you in the year end review process. Just finish the fucking pitch book and have it on my desk when I get in tomorrow.

Posted by guest , Nov 20, 2008 10:05PM

I can't believe that in the middle of this economic crisis, while he is still Treasury Secretary, Paulson had the nerve to stand there and lecture us about the crisis and defend his impotent responses.

Posted by guest , Nov 20, 2008 10:07PM

@14

You sir are a homo.

Difference between being a dick and liking it queer.

Posted by guest , Nov 20, 2008 10:14PM

#12 = merger arb master of the universe. Care to tell us what is up because something is cooking? Working the security desk at 85 Broad doesn't make you a Goldman M&A banker.

Posted by guest , Nov 20, 2008 10:21PM

@16 - less talking and more sucking. We'll work on grammar later.

Posted by guest , Nov 20, 2008 10:32PM

@18- Great you're a grammar fag.

Posted by guest , Nov 20, 2008 10:38PM

@17, Board meeting tomorrow. SEC meeting on Monday. Beware. No Shorting on financials probably until Jan. 09

Posted by guest , Nov 20, 2008 10:40PM

@19 - the more you talk, the longer you'll have to suck. Just focus on your strengths and relax your throat.

Posted by guest , Nov 20, 2008 10:45PM

@21
Guy chill with the gay.

Posted by guest , Nov 20, 2008 11:12PM

@8 Bravo

Posted by guest , Nov 20, 2008 11:18PM

@8

Spot on sir.

Paulson fucked us with that speech. He claims he sleeps just fine. Would love to see if he's getting any shut eye tonight.

What a bastard.

Posted by guest , Nov 20, 2008 11:40PM

The love of Bess' life, Einhorn's biggest holding dropped 45%

HLX 4.00 -3.33 (-45.43%)

Posted by guest , Nov 20, 2008 11:51PM

@24 - You bet Paulson is sleeping well - sleeping on more than $500mm.

When he became Treas Sec, he unloaded all of his Goldman interests and DIDN'T PAY ANY CAPITAL GAINS on it.

Yes, that's right, we the taxpayers have effectively paid that SOB $200mm to ruin our country.

http://www.marketwatch.com/News/Story/43xRFhd1RRlnqg1H1BkmTP4?siteid=google&dist=TNMostMailed

Posted by guest , Nov 21, 2008 12:38AM

CITIGROUP EXECS ARE MEETING TO DISCUSS POSSIBILITY OF SELLING THE FUCKER!

-Jobless Dealbreaker

Posted by guest , Nov 21, 2008 12:54AM

Who could possibly absorb ShittyBank? Even at $5/share, someone would have to pony up about $30B, not to mention all of the preferred and bonds.

On top of that, you'd get about 350k employees - and you'd need to let about 100k of them go.

A much better scenario would be to start breaking that thing apart - monetize some of the units and sit the bank on a huge pile of cash.

Or, if Paulson weren't so pathetic, he could stand by with another $25B preferred injection. Or - why not just have Treasury tender $25B for all the common shares and stick them in the SS trust fund or PGBC?

Posted by guest , Nov 21, 2008 1:13AM

http://www.cnbc.com/id/27829103

Merger with MS, GS??

GS would be great, Vicky P goes crawling back to Blankfein

-Jobless Dealbreaker

Posted by guest , Nov 21, 2008 1:40AM

@8, the opposite of "too long didn't read" for you sir. Spot on indeed

However, you are wrong in your superlative statement that the Bush 43 administration will be the worst of all time. Surely you are foregetting the tenure of Buchannan in 1856-60! That one was actually slightly worse.

Posted by guest , Nov 21, 2008 2:30AM

The money-machine blog I have told you about has called today's close a stock market bottom! Today is November 20, 2008.

Tomorrow is Friday Nov. 21, 2008. We will know the men from the boys!

The majority of people have sold at the bottom or did not buy. It has been foretold.

I have never seen this blog fail!

htttp://financialtraders.blogspot.com/2008/11/financials-eft-xlf-fidelity-select_20.html

His prediction for tomorrow:

http://financialtraders.blogspot.com/2008/11/stock-market-bottom-november-2008.html

Posted by guest , Nov 21, 2008 2:31AM

This is the same nonsource rumors meant to prop up the stock until a deal can be hastily put together that we saw with Fuld and Lehman - Remember?

http://yourmortgageoryourlife.wordpress.com/2008/09/04/lehman-brothers-dead-cat-bounce/

I talked to a friend who is a SVP at Citi - he said the scramble is on to raise more cash - the Prince threw down, but no one fell for it - the Soveriegns are hording cash until this shit settles out now - they saw a lot of money disapear fast at Bear Stearns and WaMu.

This is Vik in a major pucker polishing up the tin cup - look for a bump tomorrow on the rumors, but there is no strength to them.

Posted by guest , Nov 21, 2008 2:39AM

@31 - Always a first time to fail - thsat is now.

There is no bottom until 2012 - read the numbers and weep:

http://yourmortgageoryourlife.wordpress.com/2008/10/20/alt-a-the-risk-abatement-disaster-is-coming/

http://www.housingwire.com/2008/11/20/alt-a-losses-outstripping-expectations-moodys-says/

The ALT A and POA resets/recasts will make the subprime default look like a fucking tea party.

Don't get suucked in by the bottom dwellers! They need you all to pile in so they can get out.

Don't be suckers!

Posted by guest , Nov 21, 2008 6:31AM

How long before Pandit gets a pink slip?

Posted by guest , Nov 21, 2008 7:14AM

@ 34 : 6 hours .

Thank you

Posted by guest , Nov 21, 2008 8:21AM

@8

Too reactionary, didn't read.