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Bernanke Goes Sideways


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Insightful Marketwatch commentary on Cramer video

 

It takes two to trade. And on the other side of every one of Jim Cramer's trades is (or was) someone willing to take the opposite bet from him. These aren't the buy-and-hold investors who have money in 401(k)s we're talking about here. These are active traders who step on to the Wall Street game field and think they can outperform the pros.

Loose translation: Don't worry Joe Sixpack... it's not you that's getting hosed... :mellow:

His role in manipulation, or whatever it was, should bring consequences. But that should be a minor concern compared to getting the true culprits in all this: regulators.

Loose translation: "Sure, the guy robbed a convenience store at gunpoint... but the real culprit is the store owner - he should have had better security." :mellow:

 

:huh:

 

If anyone wants the actual video by the way, I'd be happy to forward it... I made sure to download a local copy before it was inevitably yanked from youtube :ph34r:

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Easy Al Cornered, Tries to Smarm his way out

 

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http://www.washingtonpost.com/wp-dyn/conte...7032201973.html

 

At one point, committee Chairman Christopher J. Dodd (D-Conn.) held up three large, blue charts demonstrating that the Federal Reserve was aware as far back as 2003 that lending standards were deteriorating.

 

About the same time, Dodd said, Greenspan was touting nontraditional mortgages, such as loans with adjustable interest rates that move upward after the first few years. "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgages," Dodd quoted Greenspan as saying in a speech in early 2004.

 

Greenspan noted yesterday that he retreated from those remarks about two weeks after he made them, saying he meant that only "a narrow segment" of households might benefit from nontraditional mortgages.

 

Greenspan, who stepped down early last year, also took issue with Dodd's criticism. "To suggest the Fed was pushing subprime mortgages or even adjustable-rate mortgages is just not accurate," he said. "I was merely identifying an arithmetically obvious issue, that some mortgage borrowers, admittedly a very small segment, would do better with a different product. But I always viewed it as a very small segment of the mortgage market."

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Mt Credo: Always carry a self-exculpating fire-extinguisher around with you and everything you're accused of will be forgiven

 

beardrech :ph34r: :ph34r:

 

Officer:Pull over ;you were doing over ninety in a twenty mile zone-you could have killed somebody!

 

BD======But officer look in my back seat..

Officer=Wha?

Bd====== My Fire extinguisherr=Well......,arent you going to excuse me?.....

Owwwww;why did you kick me in the nuts?

Officer== Let me borrow your f-extinguisher---I want to get laid tonight and

my wife has a sharp eye......

 

BD=======Officer dont you see something's wrong here?

 

Officer==What?

 

beardrech==If everyone starts using their fire-extinguishers, where does arson fire,malice aforthought,vehicular homicide,wild mendicancy fit in?

 

officer==Your right;Im outofa job..Here take my gun!

 

BD=======Thank you (shoots)Tis indeed a world of impnderables--

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