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That would be largely FNM and FRE which were mandating by Congress and fueled by the Community Reinvestment Act to expand home ownership to those who had no business owning a home, all in the name of social progress.

Translated, your rhetorical question reads, "Contracts? Rule of law? Are you insane?"

What you say is true. But what's scary is how hastily the House passed their bill, and with bipartisan support. Hopefully the Senate will proceed with more caution and consideration of the broader ramifications of the House's knee-jerk reaction. However, a similar bill has been proposed in...

Breaking the very foundation that supports this country - the concept of rule of law (especially contract law which goes back to the Magna Carta), rather than the rule of whoever's in power at the time - is a much bigger transgression than anything done during the Bush administration which was...

This commentary very accurately summarizes all the damage that congress is doing (especially the House) in their populist clamor to deflect blame and attention from the real problems and solutions. http://www.investmenthouse.com/weekendmarketsummary.htm THE ECONOMY With the sanctity...

No I didn't work directly with any of them. They were on the trading floor. I was in corporate finance/M&A. The only time we worked with the trading floor was when we took the deals across to them to see if they could sell the bonds into their markets or discuss how the deals could be...

Ah, therein lies a clue to trading succeesfully. You might find the FAILURE of such well-known patterns as Double-tops/bottoms and head-and-shoulders to be more reliable than the original patterns themselves. :) Sure, those big patterns work well sometimes (enough to pull a lot of people...

Yep, that's exactly my thesis as well. Trade the volatility while it lasts, because it won't. Things will eventually settle down.

It was quite a while ago......Drexel Burnham Lambert in Beverly Hills.....the infamous junk bond machine. :)

Good one. :D As a former investment banker, I would never invest a nickel in an investment bank (of course, there aren't any public pure investment banks left anymore).

I agree with you......the capitalist in me then says "Great! Less competiting dollars for finding good investment value". Maybe then we can stay out of boom and bust cycles for a little while.

Really? Based on the continuous stream of fatalist articles you keep copying and pasting all over this website (this being the lone, but most likely facetious, exception), I figured you for an avowed anarchist - hoping to inspire panic and rooting for the downfall of the New World Order!

No idea. I just hear him coming into the pit at opportune moments almost every day. Ben on Trader's Audio calls it out most of the time.

Borsellino is alive and kicking in the S&P pit. He's referred to on the squack box (Trader's Audio) as #1.

Ha! I assume you're being fascetious. It was this mess that got him elected (and he damn well knows it). And he continued to push the negativity as far as he could into his presidential term, until the polls started to say that people were starting to lose confidence in him and his team...

Yes, I know quite well he's been copying and posting any negative article he can find for months, and I'm sure he'lll continue to do so for months and years to come (he appears to be in the contest to be the first ETer to have 10,000 posts to his name - and only in 3 years!). Bad news sells...

Uh oh.....if stock_trad3r keeps his word, looks like the markets are going to ZERO!

Now that Port's a bull....it's definitely time to short this rally!

Government (which owns ~80%) said it's pulling in its shares so they can't be borrowed for shorting. It's called a short-squeeze. Remember the Volkswagen/Porsche incident last year?

This is news to me....can anyone else verify or deny this?