-
We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.
Oh For Crying out loud
- Thread starter DomS
- Start date
blackangst1
Lifer
And all the reasons that statement was shown to be bullshit still hold true.
Engineer
Elite Member
Just announced...Merrill Lynch is no longer a public company. Special on CNBC right now. Fed, as reported by AP, sitting on the current rate with no cuts (stagflation kicking their ass). Might....just might be the worst financial mess in decades. Dow futures down over 250 points right now.
CrazyHelloDeli
Platinum Member
Whatever happens, the only thing we can be sure of is that Dave predicted it.
Failing banks should be allowed to fail. The near term financial pain would be significant. Stakeholders should sue to try and recover losses from stupid executives and the government should stay out of the bailout business and get back into the oversight business. In the long term a stronger financial system would emerge and the CEOs of financial institutions would learn not to count on a
government bailout.
However, the goverment will try to make it look llike they are helping but in the end all they will accomplish is hundreds of billions of dollars added to the defceit. If I hear VP Cheney say again that deficit don't matter I may have to buy gold ingots and keep them under my mattress.
government bailout.
However, the goverment will try to make it look llike they are helping but in the end all they will accomplish is hundreds of billions of dollars added to the defceit. If I hear VP Cheney say again that deficit don't matter I may have to buy gold ingots and keep them under my mattress.
Don't you understand, the invisible hand of the market will prevent any problems, businesses will act in the interest of keeping everything working fine, and the government has no role to play in any regulation, its well-intended but misguided efforts only cause the crashes, and if you disagree, you love communism?
Or, the market sells the public on false views to get them the room for schemes, and when they crash, the public is left with a big 'you shoulda known better'.
Many well intended businesses are forced by the competitve pressures by others to either take part in the schemes, or they are run out of business.
Maybe that's it, not the corporatist propaganda explanation. Of course, it doesn't necessarily lead to a crash; it might just be to poverty for the masses.
Anyone here who has not yet watched The Corporation (Part 1, Part 2
3chordcharlie
Diamond Member
Sounds great; the problem is when banks fail the system collapses - the near term pain isn't 'sgnificant', it's 'tremendous'.
Failing banks should be rescued from failure, but ownership and management should be hung out to dry. Take over the bank, right it, and re-issue the stock, while confiscating executive compensation (not ordinary salaries, but bonuses, profits from stock/option compensation, and discretionary payouts) retroactively to help offset losses. (Either for a set period, or based on forensic accounting's answer to 'when did they know the ship was sinking?'). This would require changing laws, and it will never happen.
dmcowen674
No Lifer
Interesting since I called all this out back in Jan 2007.
Where are the right-wingers to say that the cause of the problems are federal insurance like FDIC that make borrowers less wary and encourage excessive risk?
If we just get rid of consumer protection like that, then the risk will properly keep businesses from overextending. It's all the Democrats' fault.
If we just get rid of consumer protection like that, then the risk will properly keep businesses from overextending. It's all the Democrats' fault.
Where are all the left-wingers to say that the cause of the problems are the free market? That if we socialized all lending institutations there would be no need for profits?
If we just get rid of profits, then the businesses would keep from overextending. It's all the Republicans fault.
Well, the 'liberal agenda' is a regulated market keeping it serving society's interests and not running off a cliff to profit a few - while profiting people as the grease for themachine.
I tell you, I'm convinced that many or most right-wingers are stuck at the 13 year old level of understanding these issues, once they heard from some propagandist that democrats are against profit, and they realized profit has an important role to play and from then on consider themselves of opponents of the Democratic Party based on that straw man as they defend the nation from communism, not realizing what they're actually doing is enabling the blocking of helpful regulation.
LegendKiller
Lifer
It was absolutely disastrous.
Craig, what's your education and experience when it comes to finance and the markets? While you like to call me a "13 year old", I have a BS in Finance and an MBA, and I've been in insurance and financial services for 11 years. Because my parody post shows how ignorant you are about a general concept like FDIC and it's purpose.
This has everything to do with firms leveraging capital and chasing the "profits" of subprime. Firms that turned their noses up at the allure of those profits are sitting pretty. Those who did not, as we can see, are getting chewed up and spit out.
LegendKiller
Lifer
Deregulation did cause a lot of this.
TRENDING THREADS
-
Discussion Zen 5 Speculation (EPYC Turin and Strix Point/Granite Ridge - Ryzen 9000)- Started by DisEnchantment
- Replies: 25K
-
Discussion Intel Meteor, Arrow, Lunar & Panther Lakes + WCL Discussion Threads
- Started by Tigerick
- Replies: 25K
-
Discussion Intel current and future Lakes & Rapids thread- Started by TheF34RChannel
- Replies: 24K
-
-
