Rick Santelli is the MAN

Quote from Landis82:

Again, I don't think that the point is about individuals paying their mortgages or being upside/down as much as it is about the BANKS.
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The bailout has never been targeted towards individuals.

It is obvious that the idiotic overleveraged financial entities deserve every bit of regulation that is coming down the pipe now since they have proven that they can't control themselves.

Are there no good banks left? If there were a few good banks, why not let the crap ones fail? FDIC insurance covers people up to a certain limit and then those same people put their money into the banks worth putting money into. The intelligent banks get stronger and the good for nothing crap banks cease to exist.

Everytime I see a Bank of America advertisement on TV, it just makes me want to vomit.
 
Quote from sprstpd:

Are there no good banks left? If there were a few good banks, why not let the crap ones fail? FDIC insurance covers people up to a certain limit and then those same people put their money into the banks worth putting money into. The intelligent banks get stronger and the good for nothing crap banks cease to exist.
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Your example is far too naive and simplistic. It's much more complicated than that, hence Geithner's "delay" in being specific about an upcoming plan.

You fail to take into consideration counter-party risk.

Think Lehman X's 1000.
 
Quote from Landis82:

Your example is far too naive and simplistic. It's much more complicated than that, hence Geithner's "delay" in being specific about an upcoming plan.

You fail to take into consideration counter-party risk.

Think Lehman X's 1000.
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Are the counterparty obligations of a bank absolved when the FDIC takes them over, or do they fall in line somewhere as obligations that are honored? I have no idea...just asking. Stosh
 
Eko Trader,

You ask for what has Obama done that is so bad?

Well were to start.

1. Can’t seem to hire staff that believes in paying their taxes. Why anyone in this country would want as Treasury Secretary someone who can’t handle his personal tax situation and thinks it is ok that they be in charge of the country’s treasury is beyond me.
2. Wants to help the little man stay in a house they can’t afford and never could. Believes personal responsibility is not important and that the more you make the more you should subsidize those who are “less fortunate.”
3. Thinks it is good policy to raise the taxes of those who create the jobs in this country. That way all the ignorants who voted for him will think that “Mr. Change” will save them from their own poor decisions. But by voting for him they aren’t realizing it is they themselves who will suffer and wonder why their boss moved their job to a business friendly environment. The guy on the factory floor does not create the jobs and never will. Increasing his company’s costs does not do the worker any favors in the long run as obvious by what is going on now. Then they wonder why they lose their job and can’t understand how this could have happened.
4. If you were a global company, would you move some operations to an environment that is not business friendly? I would not.
5. Thinks those who actually contribute to society should subsidize those who don’t.
6. He is a rock star to a generation of underclass who think he will help them get the things they feel they are entitled too. Life is not fair and not everyone deserves the finer things in life.

I could go on all day but eventually all those who thought Obama change was a good idea will be in for a rude awakening. He will be a one-term president or at least I hope so. Things are going to get much worse before they get better and although I have nothing against him personally, I think he is way out of his element. And the wealthy idiots you refer to aren’t pulling anyone down. They are trying to keep from getting pulled down by those who can’t or won’t take responsibility for themselves or their actions. At least you didn’t vote for him.

No one who takes care of him or herself and doesn’t expect the government to “take care of them” would disagree with Santelli’s comments. Am I wrong and Obama will save us? Maybe. But anyone who believes it is in the good of the country to punish the successful ones to subsidize those who think they are entitled to a good life is crazy in my book. Santelli is right. Ben Franklin and some of the other founding fathers are probably turning over in their graves because of what is currently going on here.

Do I expect to convert the Obama faithful? Not at all. But if they took a moment to think about what is really going on they would probably come to many of the same conclusions of me and many others. But that would entail actually thinking about it and that I am afraid to say, is probably not going to happen. Especially when it is so much easier to blame everyone else for their own problems.

As they say, common sense is not that common any more. Good trading all.

BM
 
Big Money said ""But if they took a moment to think about what is really going on they would probably come to many of the same conclusions of me and many others.""

Critical thinking is almost dead.
As is the USA.
 
So in summary, we should trust the government to fix the crisis they created?

I guess this is where I differ with a lot of people who support the government intervention. The cure is worse than the illness.
 
I don't fucking get it , why the crowd ( wall street crowd) is against Obama , what do you clowns expect ? Boy Ricky represents another POS part of corrupt culture CNBC , these
cocksuckers added to the panic , so fuck him and all of you who support him.
 
Quote from Big Money:

Eko Trader,

You ask for what has Obama done that is so bad?

Do I expect to convert the Obama faithful?
BM
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Yes, the faithful. How many would have voted for Obama if they had known:

1. Robert Gates would remain SecDef.

2. Former USMC general would be NSC.

3. 'Domestic Wiretap' policy would remain unchanged.

4. Torture - paper said 'we stop all torture' (but reserve the right to torture if needed).

5. No spending for Katrina victims.

6. Hillary would be SecState - great work here - China lovers her; they don't have to worry about human rights under Obama. One China, Tibet and Taiwan?

7. Bipartisan approach to policy changes. FORGETABOUTIT!!!

8. More troops to Afganistan while cutting DeptofDefense budget.

9. Tax cuts for the middle class = $13 a week.

10. Cut the deficit by 2/3...

11. Promised to get a White House puppy for the girls - but can't find one that does not have a tax problem!

Yep, the faithful are going to wake up someday and be as pissed as the people who do the work and pay the taxes.

Until some adult puts together a plan that has some chance of working long term STAY OUT OF THE MARKET!!!!

Good luck, faithful or not.
 
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