Collapse of the banking system=death of the USA. USA would not be worth a damn as a country. It would be worse than romania. Bailout was not an option, if the banking system collapses civilization as we know it ends and it is back to stone age.
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Super Wealthy Deathly Afraid Estate Tax Would Reduce Deficit
- Thread starter OPTIONAL777
- Start date
Collapse of the banking system=death of the USA. USA would not be worth a damn as a country. It would be worse than romania. Bailout was not an option, if the banking system collapses civilization as we know it ends and it is back to stone age.
"exactly - we would be far better with no government intervention.
We would have saved trillions in tax dollars."
Idiotic...
We would have saved trillions in tax dollars."
Idiotic...
Quote from jem:
exactly - we would be far better with no government intervention.
We would have saved trillions in tax dollars.
If the government was not there as the back stop - the chinesse would not have lent the money to these corrupt schemes.
If the government was not there to payout AIGs debt to goldman the bankruptcy trustee would have most likely taken 6 billion back from goldman and they would have been gone.
But, Goldman would not have done such stupid shit if they did not have the backstop.
Government is the problem... crooked government cronyism is even worse.
Look what it did in Japan - look at what it is doing now.
How can anyone think the government deserves more money and more power?
Quote from OPTIONAL777:
"exactly - we would be far better with no government intervention.
We would have saved trillions in tax dollars."
Idiotic...
This messageboard provides a veritable sample of sarah palin's core supporters. Anti bailout, ignorant of the world, speaking in generalities, i.e people who don't know much about anything just like sarah palin.
Quote from IShopAtPublix:
This messageboard provides a veritable sample of sarah palin's core supporters. Anti bailout, ignorant of the world, speaking in generalities, i.e people who don't know much about anything just like sarah palin.
Not unlike cheerleaders telling their friends that they're just jealous.
Are you not the same dickwad who was ranting about how if
Forex margins were cut it would hurt your trading?
But now you have the unmitigated gall to criticize ratings agencies and lack of regulatory oversight?
Further, if you want to talk about being considered a douchebag, go make a bunch of money in the art of currency speculation and see how well that plays with the leftist crowd. Here you are, nothing more than a two-bit aspirant to the amoral persuit of raiding and shorting a nations money yet you're some self-righteous moral authority. I find you a particularly dangerous, almost Stalinesque type personality. Filled with class envy, delusional, duplicitous, elitist without pedigree, snarky without education yet a staunch, mean spirited critic of others. You're one sick dude.
Forex margins were cut it would hurt your trading?
But now you have the unmitigated gall to criticize ratings agencies and lack of regulatory oversight?
Further, if you want to talk about being considered a douchebag, go make a bunch of money in the art of currency speculation and see how well that plays with the leftist crowd. Here you are, nothing more than a two-bit aspirant to the amoral persuit of raiding and shorting a nations money yet you're some self-righteous moral authority. I find you a particularly dangerous, almost Stalinesque type personality. Filled with class envy, delusional, duplicitous, elitist without pedigree, snarky without education yet a staunch, mean spirited critic of others. You're one sick dude.
Quote from IShopAtPublix:
Unless we are talking some exotic tribes in the amazon or wherever else, the rich run the show ALWAYS. Even in communist societies the "elite" has villas and access to foreign goods/foreign travel, the difference being it was not dervived from capitalistic activity but party rank.
Just look at the lack of oversight of Wall Street post financial meltdown that could have destroyed the world. There is none. Mark to market was done away with (I don't whether or when they are going to put it back), over the counter trading of derivatives has not stopped and it is not regulated anyway, no margin requirements, nothing to address moral hazard. People like S&P, Fitch and moodys have not been prosecuted for fraud (putting AAA on CCC investments by slicing them up and mixing and matching)
Douchebags on wall street have the audacity to hand out record bonuses at a time of serious misery that was caused by the financial sector.
Being rich is rewarding in and of itself, to think that they are a dying breed and somehow their rights are being trampled upon is to be a naive simpleton (yes piker that means you!)
Quote from HelloDollar:
Are you not the same dickwad who was ranting about how if
Forex margins were cut it would hurt your trading?
But now you have the unmitigated gall to criticize ratings agencies and lack of regulatory oversight?
Further, if you want to talk about being considered a douchebag, go make a bunch of money in the art of currency speculation and see how well that plays with the leftist crowd. Here you are, nothing more than a two-bit aspirant to the amoral persuit of raiding and shorting a nations money yet you're some self-righteous moral authority. I find you a particularly dangerous, almost Stalinesque type personality. Filled with class envy, delusional, duplicitous, elitist without pedigree, snarky without education yet a staunch, mean spirited critic of others. You're one sick dude.
LOL.
Try not creating other usernames to hide behind, mr. 56 posts registered in february of 10.
Btw cutting margins in forex has nothing to do with regulatory oversight it is about killing the retail forex. People are warned many times that high leverage can lead to increased gains and losses. Even with 400:1 leverage there was no danger of the retail forex clients destroying the world, unlike trillions of CDO, CDS and other derivatives.
Quote from IShopAtPublix:
Collapse of the banking system=death of the USA. USA would not be worth a damn as a country. It would be worse than romania. Bailout was not an option, if the banking system collapses civilization as we know it ends and it is back to stone age.
pure speculation out of the mouth of a collectivist. I see you fell for Paulsons bullshit. Do you realize the reason Goldman would not let AIG go bankrupt was because the Trustee would have clawed back billions.
What good deal makers would not have reformed new useful banks overnight? There would have been huge competition for the right to auction off U.S. debt.
The only thing that would have happened is that a few large banks would no longer exist. The Fed would have picked a few new regional bank shareholders and the games would have begun again. Only this time without the expected safety net.
Capital would have been allocated more rationally.
Do you realize the trillions we have spent buying back under valued mortgages and allowing the fed to swap out agency debt for U.S. with the China. You have no idea of the extent of the trillions we have just wasted.
Trillions which were completely wasted.
(Even if you still prefer the bailout -
We could have just handed out a few hundred thousand to every American. It would have been far more effective and cost the same.)
Business as usual would have come back faster and stronger.
Instead we are going to a decade of Japan style zombie bank economics.
And who told you those instruments "destroyed" the world? Did Lehman receive a bailout? Truth is, neither you nor I know how much American and European banks lost from real life mortgage lending vs. derivative trading. The bank owned by the Democrat Senate candidate in Illinois is going under and they didn't trade in any shape or form. Just bad loans.
If you continue parroting, populist media talking points about 100-1 leverage etc, you're going to enjoy little credibility on trading matters. You know how you talk about huge margins are needed on certain Forex crosses? Well it's the same in bond trading. Lehman, MER etal weren't naked long at those high margins but were spread at those high margins. How much jack you think a 5-1 margin long CDS vs. 10year Treasury is going to make you?
If you continue parroting, populist media talking points about 100-1 leverage etc, you're going to enjoy little credibility on trading matters. You know how you talk about huge margins are needed on certain Forex crosses? Well it's the same in bond trading. Lehman, MER etal weren't naked long at those high margins but were spread at those high margins. How much jack you think a 5-1 margin long CDS vs. 10year Treasury is going to make you?
Quote from IShopAtPublix:
LOL.
Try not creating other usernames to hide behind, mr. 56 posts registered in february of 10.
Btw cutting margins in forex has nothing to do with regulatory oversight it is about killing the retail forex. People are warned many times that high leverage can lead to increased gains and losses. Even with 400:1 leverage there was no danger of the retail forex clients destroying the world, unlike trillions of CDO, CDS and other derivatives.
Ok here are 2 numbnuts trying to drown me out in their shouts.
It is easy to say post factum that bail outs were not needed but the simple fact is, whether banks were or were not insolvent is irrelevant, there was a widespread crisis of confidence and people were withdrawing money from money market funds. When you have an unchecked crisis of confidence you have a run on the banks and you have a widespread depression.
Bail out was necessary to show that the government was ready to step in and prop up the financial system, you take away that, you have armageddon.
It is easy to say post factum that bail outs were not needed but the simple fact is, whether banks were or were not insolvent is irrelevant, there was a widespread crisis of confidence and people were withdrawing money from money market funds. When you have an unchecked crisis of confidence you have a run on the banks and you have a widespread depression.
Bail out was necessary to show that the government was ready to step in and prop up the financial system, you take away that, you have armageddon.
Quote from IShopAtPublix:
1)It is easy to say post factum that bail outs were not needed but the simple fact is, whether banks were or were not insolvent is irrelevant, there was a widespread crisis of confidence ...
2) When you have an unchecked crisis of confidence(a) you have a run on the banks and you have a widespread depression.(b)
3)Bail out was necessary to show that the government was ready to step in and prop up the financial system
1)Really so how was it some "naive simpleton" as you described me knew to cash out of his guaranteed (EIA) pension and invest it aggressively doubling his net worth in 1 yr?
If a simpleton such as myself saw the opportunity of a lifetime how come you missed it?
2a) Well now that problem is inherent in having a worthless fiat currency. Thank a progressive for that.
2b) Bank runs don't necessitate an economic depression.
3):eek: