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You'll get no argument from me. I 100% agree with the concept of risk vs reward and that a person who takes risk deserves the reward. HOWEVER, this philosophy is not applied universally. As has been repeated ad nauseum, the current mentality is that a small segment of the protected racket can...

This conversation has gone off the rails. We have to make a distinction between those who use leveraging and the Fed "pump" to goose asset prices versus those who run businesses whose sole purpose isn't to profit off of asset reflation. It's also at the very heart of this entire conversation...

But you really can't open any doors until you're doing 5 percent daily.

It's just staggering how much bullshit, spin and lies we are bombarded with each and every day. This Cain debacle just follows the same pattern as releasing a much anticipated "headline number" to get an immediate knee-jerk reaction. 3-6 months later that number is completely negated, revised...

Because the banking lobby funds both sides of the aisle. Much easier to do business when the elections don't matter and your "bought and paid for" politician will do whatever you tell him to do.

So what you're really saying is that it's a site run by criminals reporting on other criminals?

FWIW, Ireland's housing debacle is something that defies description. You'd also be absolutely stunned if you heard some of the prices paid for spec plots of land at the peak of the bubble. Dublin has so many "ghost estates" that it would take successive generations to reach full capacity...

I understand that, I'm familiar with all the firms you've mentioned (even knew some of the principals involved with crt, hull, etc..) My point was that 20 years ago it was a floor environment and the path to trading was vastly different from nowadays. Back then, you didn't just come right in...

But therein lie the irony...the sort of wealth that is created nowadays (on the back of massive asset inflation) requires enormous risk taking (even though I'd argue many of the people who had taken the risk didn't really realize the enormity of risk undertaken).

But is it just another moral hazard bet? i.e. perpetual bailouts. And it should be made clear that there are "direct" bailouts and "indirect" bailouts (such as ZIRP, suspension of MTM accounting and the myriad of accounting gimmicks allowable).

I've seen you repeatedly make this point. Comparing the Scandanavian countries and their brand of socialism and holding out hope that this can become some future model of socialism. I suppose that I'd argue that it has everything to do with a homogenous population and the individual mindset...

lol, that was well done. Very clever.

With all due respect you've made the same post about "tit-sucking parasites" maybe a few hundred times in the past few months. I get it and mostly agree with it, but you re-post it so often and so many times out of context that it's falling flat.

Of course it will. The last thing a politician wants to do is make a decision or (gasp) potentially offend or alienate whomever is bribing them. Much, much, much easier to get in front of the t.v. and talk about some vague, "loose" ideas about how to fix the deficit than to ever do a damn...

I've noticed after years of observation (and experience), most shorts get squeezed like no one's business and always cover at the first sign of "relief"...only to then watch the thing drop like a rock. Surely, this is all played out in the charts, but human psychology (and the intolerance for...

That giant sucking sound is ZIRP. Just wait until we have another stock market collapse and all those "chasing yield" have it crash on their heads for the umpteenth time. ZIRP sure as shit has done wonders for the housing market. Just an all around brilliant policy [/sarc]

The man behind the curtain is becoming ever more visible lately. It's almost comical how all the rumors involve replacing the current thugs with squid appointees.

Hopefully those billions aren't sitting in an Italian bank.

Merkel and Sarkozy might use that. They've run out of the ordinary brand of bullshit.

Yeah, but make sure you call the right school. If you call "Penn", there will be some mighty confused people on the other end of the line. :D