Search results

Quite honestly, I don't know what his logic was. I would have thought 50 to try to relieve some of the strain in the LIBOR (eurodollar) market, but of course that market is not part of the Fed's mandate. It actually grew up to get around domestic reserve requirements, after all.

Bottom line: no Fed is going to make the same mistake as the Fed of the early Thirties. That's why Greenspan added liquidity after the crash of '87, and responded as quickly as he knew how (not quickly enough) to the dot-com crash of 2000-2001. Bernanke is responding as quickly as he knows how...

This is so confusing I don't even know where to begin. Is it your contention that the Fed shouldn't have eased more because Credit-Anstalt proves this? If so, please explain. The last remark is beneath contempt, but you knew that when you made it.

Eh, if he screws up royally, he gets 30 million. If he succeeds, maybe he gets 60 instead? I'd take it.

...and they buried the announcement under the Fed decision. Weird, strange, not a good sign.

I figure the market sells off regardless, unless they do something super-aggressive, like 50 on the FF, and 75 on the discount. Actually, 75 on the discount all by itself, regardless of the FF, would probably instigate still more rallying. But that's an outside possibility, and on any other...

I'm infinitely better looking. Hmph.

Yeah, I know. Like daddyeaux said, once it's out in space, it's gone. But I feel like Bugs Bunny after he either leaves or gets kicked out of Elmer Fudd's mansion in one of those cartoons. He stands there on the street, looks at the camera, and says "I just gotta go back and heckle that guy!"...

Yer just jealous...

That he writes better'n me is: a) obvious, and b) beside the point. Although, I do have my Dewar's lined up in soldierly array over here...

Link: The trouble with the Paulson Plan

I quote from myself (http://www.elitetrader.com/vb/showthread.php?s=&threadid=111396&perpage=6&pagenumber=3) Today, in the FT, we see this, from the appropriately named Clive Crook: The sequence is the same as mine. None of it is original; for instance, he could have mentioned the...

Bush can imprison you, and under current law, he can do so indefinitely. All Chartiste and the rest of the "PC crowd" (to be clear, I did not like what they did to Imus, but that's because I think it was pure cowardice: easy target) can do is what Miss Manners does: ask you to be polite. Or...

I don't normally pile on, but this one is stupid from any POV: intraday, swing, position, or super-long term value investor like Buffett. From the latter's POV, the div is extremely important. It's one of the ways he gets paid back. To understand the div in this one, you have to understand...

Because a pimple like Iran decides not to price oil in dollars? No. As the man said, the Brit pound is slogging through its own subprime mess. The euro backs an economy with subpar real growth and no prospects for having any anytime soon. And as John Dizard pointed out in the FT, Spain has its...

...and everyone keeps citing that, and 1 out of every 5 chose economic Armaggedon in this survey. I'm very comfortable being a bull about next year.

That letter has got to be one of the stupidest things ever written. How many ways is the housing market subsidized? Let's count the ways: 1 - Mortgage interest deduction. 2 - Property tax deduction (sales taxes aren't) 3 - The existence of the GSE's, Fannie and Freddie, whose mission is to...

Some founder of the VFW could have written the same thing, around 1901 or so, when all those people were passing through Ellis Island. If I looked, I'm sure I could find someone from back then who did. Shorting this country is the surest way to the poorhouse there is. Immigration is a sign of...

2000 was an anomaly, Prez-cycle year-wise. I was out until midyear, and then I bought only gold and gold-related stuff. The recovery was very old by then. The bubble was so blindingly zany only a fool or a newbie (of that vintage, of course) couldn't see what was coming. And the Fed was...

I've got 1660 as a target, last time I checked, on my long-term stuff, where I have to care about this kind of thing. Not so far from hers. The real poop is not jamming the ventilation just because some losers took out mortgages they could never pay off. The real poop will stuff the HVAC...