On Sep 16, 5:37Â am, Robert Cohen
msn.com> wrote:> On Sep 16, 12:21Â am, "Sean"
now.com.au> wrote:
>
>
>
>
>>> "Robert Cohen"
msn.com> wrote in message>
>
>>> On Sep 15, 12:18 pm, "Sean"
now.com.au> wrote:>
>>>> "Robert Cohen"
msn.com> wrote in message>
>>>>news:89b1c93e-2877-443e-9d65-a5c35b53421b@
p25g2000hsf.googlegroups.com...
>>>> On Sep 14, 8:04 pm, "Sean"
now.com.au> wrote:
>>>> sold out)>
>>>> ------------------------
>
>>>> Thanks Robt ... that was simply exquisite, well done.
>
>>>> I want more!!! - Hide quoted text -
>
>>>> - Show quoted text -
>
>>> "Befor enlightenment, chop wood carry water. Employ others to do so.
>>> Get fat and lazy."
>
>>> "After enlightenment, chop your own wood, and carry your own water.
>>> Get slim and energetic.
>
>>> "After after, go back to first principles (they need the work)..get
>>> fat and lazy again, but this time, enjoy :-)
>
>>> Now go and peel me a grape. You need the exercise, and I need the
>>> power. ;-)
>
>>> BOfL
>
>> A Scot's colorful take of that ill-fated meeting over the weak failing
>> end
>
>
>> Meanwhile, there's CNBC rumor that prospective buyer BARCLAY BANK
>> wanted LEHMAN BROS to go into chapter 11 legal volutary bankruptcy in
>> order the get the assets more cheap including legally screwing the LEH
>> stockholders & employees (TWENTY THOUSAND EMPLOYEES) who are now
>> seemingly completely peed off at their proud but mis-calculating
>> leader RAY FULD
>
>> LEH IS NOT REALLY POOR: Bill Gross the PIMCO bond sage says LEH is not
>> really that "insolvent," and apparently a liquid loan was what they
>> had needed because they're too cash poor
>
>> Obviously their peers/competitors are saying, "tough-shitsky," and
>> return to their dark Lincoln Town Cars
>
>> Merrill Lynch proves much more adaptive than Lehman Bros today, as THE
>> BANK OF AMERICA
>> is now gonnabe even a bigger biggee by acquiring Merrill for $50
>> billion
>
>> AIG, a TRILLION dollar insurance giant, is considered now to be the
>> next gigantic chapter 11 loser. Yet, Bill Gross says, AIG is not
>> really "insolvent" either.
>> --------------------------------------------------
>
>> but "insolvent" merely means one knows that they are unable to pay debts
>> when they are due, and when that happens Directors are lawfully required to
>> act accordingly. Even if it is a $10 loan and you only have $9 and the
>> debtor won't renegotiate, and you can't borrow the extra dollar, then the
>> company is "insolvent".
>
>> iow "bankrupt" .... no matter what assetts one might have, or could get for
>> them in a month from now, if the debt is due today, that's it.- Hide quoted text -
>
>> - Show quoted text -
>
> True and are anti-pubic interest, because these financial behemoths
> are intricately dynamic & essential utilities, as so many people and
> dealings are inter-depending on 'em
>
> Our houses of cards are self-destructing if not intervened upon by
> Uncle Sam
But, as Investor's Business Daily points out:
http://www.ibdeditorials.com/IBDArticles.aspx?id=306370789279709
The Real Culprits In This Meltdown
By INVESTOR'S BUSINESS DAILY |
Posted Monday, September 15, 2008 4:20 PM PT
Big Government: Barack Obama and Democrats
blame the historic financial turmoil on the market.
But if it's dysfunctional, Democrats during the
Clinton years are a prime reason for it.
It's funny how the left will try to turn this into
propaganda fodder against the great evil sourge
capitalism. However, it seems that well-meaning
gummint regulation that was created during the
Carter years, and beefed up in the Clinton years,
required a certain number of affirmative action
loans to be given out, and that this resulted in
a lowering of risk standards for the sake of such
loans, rather like the hiring standards for women
firefighters being lower. Not that any of that is
innate, the point is what the regulation required.
I also found this interesting:
"As soon as Clinton crony Franklin Delano
Raines took the helm in 1999 at Fannie Mae,
for example, he used it as his personal piggy
bank, looting it for a total of almost $100 million
in compensation by the time he left in early
2005 under an ethical cloud.
Other Clinton cronies, including Janet Reno
aide Jamie Gorelick, padded their pockets to
the tune of another $75 million."
Now, maybe I can't trust Investor's Business
Daily editorials any more than I can the NYT,
or Pacifica radio. Maybe. But I find it unlikely
they are _that_ bad. Nevertheless, we can't
observe the glee of leftists in the face of such
events who will, in said glee, gladly step into
the post hoc, ergo propter hoc, Superstition
Fallacy.
> Of course "the market" absorbs everything in the long run, Professor
> Uncle Milty Friedman
Even failed librul dogooderism.
> Imho: Such absolutist capitalism is NOT in the public interest
> especially in the short run in which we exist
>
> We are re-learning the Herbert Hoover era dilemmas
Not even close. We are as New Deal as we ever
were. We're all Keynesians now, except a few
quacks, or so they say. And, in fact, what the
Depression era dilemma really taught us was the
folly of the gold standard.
> Yeah, today's clashings of political philosophies are not irrelevant,
> as we are witnessing the traditional Right and Left issues
No, we're not. Where are the Right and Left issues? Evidently
all the Left stands for is higher taxes. That's it. Sums it all up
in one nice wrapper. They are extremely slow learners in this
regard. Reagan didn't teach them. Kerry didn't teach them.
Daschle didn't teach them. The dogmatic belief in higher taxes
is nothing but an empty attempt to manipulate long-dead
demographic groups susceptible to class envy. The base
has no choice, so don't bother preaching to the choir. You have
to get a big chunk of the center, since they are 47%% of voters.
> All the rightwing radio talk show simplistic shilly wisdumb &
> shallowness is MALADAPTIVE & foolishness personified, and CHAOS and
> massive deprivations are the inevitable consequence.
I think Limbaugh and talk radio jumped the shark long ago.
Just because they aren't as powerless as the Old Media is
no reason to get all skeered of them.
Welcome to the Era of the Internet.
This message was brought to you by the makers
of Oxycontin... for that Megadittoes Rush.
John Methuselah McCain did not approve of this message,
but nobody stones anybody until _I_ say so, even if they
do say "Jimmy Carter high-tax stagflation."
