I don't agree with Ben Stein at ALL

[RisingTide]

Isn’t it a noteworthy that now in 2007 as the result of subprime loans and how much the financial markets are negatively affected by this, that you have a lot of these journalists and people in the financial community wanting the fed to interject and stimulate the economy rather than let the markets play out the hand that these so called “gurus” created in the first place. These are the same people in 1999 that wanted nothing more than to see the tech industry come crashing down because of the irrational exuberance didn’t justify the valuations of these tech companies. A good majority of the people in the tech industry lost their jobs, and great number of people investing in theses funds lost their retirement and investment. Overall, billions if not trillions were lost in the tech bubble and the fed did nothing to prevent the continual downward spiral that was occurring in the financial markets.

Over the weekend, I heard Ben Stein whining about how he thinks Hank Paulson should be fired because he’s not stating publicly there is a crisis in the financial markets and that he is not suggesting the proposal of fed intervention. This is the same guy in 1999, that I saw on CNBC advocating the markets should not be intervened by the fed and that tech companies deserve their fate of the market. Youtube wasn’t around then so I couldn’t find that video but I remember numerous times watching him and other talking heads in his circle saying the same thing.

I've never been a fan of Ben Stein, although he was some what funny in Ferris Bueller's Day Off

 

[Option_Attack]

"Bueller, Bueller, Bueller..."

 

[Allen3]

WOW! Good luck on the GMAT. Don't eat the warm gummy bears.

 

[AKUMATOTENSHI]

Ben Stein is sarcasm incarnate. Go Ben go!

Akuma

 

[ehsmama]

Quote from Option_Attack:

"Bueller, Bueller, Bueller..."

Amazing, this GUY was ugly even when he was young. His sarcasm stems from his inability to get laid.

 

[optionzztrader]

yeah, he was on the commentary for CBS Sunday morning news and said our economy was fine and the subprime mess was too small to affect the economy and the hedge funds problems were no big deal either. yet, don't hedge funds trade billions of dollars? isn't that a big chunk of our economy?

in my opinion, this economy is going down for a while due to the fed bailing out wall street and banks. banks lent the money to these hedge funds, and now the banks are not being repaid the loans. banks are having trouble with the subprime idiots and hedge fund idiots, and then these idiots don't learn their lesson when the fed bails them out. then the hedge funds and wall street just go back to business as if nothing happened.

this economy is going down. too much of a credit crunch.

 

[o10maximus]

Quote from RisingTide:

Overall, billions if not trillions were lost in the tech bubble and the fed did nothing to prevent the continual downward spiral that was occurring in the financial markets.

Nothing was lost, it's called the transference of wealth. Just gotta move w/ the big fish.

 

[nazzdack]

The Fed is supposed to "protect" the bond market, not the stock market. Treasury securities are its primary asset, not stocks.

 

[archon]

Does anybody take this guy seriously anymore?

Do you really want to take financial advice from the Ferris Bueller guy who also hawks Visine eye drops? That's right...I almost forgot his role a a perennial game show contestant. I take it all back. He is extremely qualified....