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#346 nymphcaster

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Posted 07 September 2008 - 11:46 PM

See:
http://www.marketwat.....517AAD090E9F}

(8/10/08): Titled: Paulson vows to resign in January (2009).
Subtitled: Treasury Chief says no immediate plans to give Freddie, Fannie fresh funds.

"When I came down to Washington, people said, 'How could you want to do something for two-and-a-half years?' ... [But] two-and-a-half years sounds like a long time to me," Paulson said. . . .


"Paulson also said that the Treasury had no immediate plans to provide government-sponsored mortgage giants Fannie Mae and Freddie Mac, even as the two posted large losses the previous week. "

Then this weekend we have reports (that vary over the terms) of this weekend conservatorship of Freddie and Fannie, less than a month from the original statement.

This weekend's events will have a legacy much longer than that "long time" of 2 1/2 years that Paulson sees as too long to stay in an important job (during a crisis). These conservatorships will have a dramatic impact on a variety of companies, and are, again, done over a weekend, kind of like the Bear Stearns thingee.

If someone were to give me over a trillion dollars and advice, while planning their next personal professional move, I think I would prefer someone who planned to stick around to see it through and exert some leadership and long term planning and thinking, assuming, of course, that the advice was any good in the first place. Hopefully, the new heads of Freddie and Fannie plan to stay around more than a few months (if they are any good).

Frankly, it seems so Argentinian from several years back. Where a new guy comes in and out every few months and the country is in a financial/fiscal crisis all of the while. And words are words rather than action.

If he is doing the right thing, why doesn't he plan to stick around to implement a good plan and see it through?

#347 shorty

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Posted 07 September 2008 - 11:53 PM

If he is doing the right thing, why doesn't he plan to stick around to implement a good plan and see it through?

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maybe he's already agreed to accept a job with the Chinese government, for huge dollars and all the fresh _____ he can handle

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#348 Jimbo

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Posted 07 September 2008 - 11:58 PM

SCHRODINGERS CAT AND THE PROBABILITY OF THE DOOR OPENING

The probability of the door opening now equals one - it has opened.

The Grossman kicked the door down.

The government didnt want to open the door because it will crash the bond market.

Fall street wanted the door opened to stop lossess on GSE paper and for the quick and certain trading profits that a short treasuries/long GSE paper would provide.

The quantum state of the financial markets has now collapsed into a singularity event. :ph34r:
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#349 shorty

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Posted 07 September 2008 - 11:59 PM

I don't agree. The government and the Fed didn't bail anybody out. Roosevelt even shut down the banking system for 5 days to stop the runs on the banks, and pushed through legislation that tightened banking requirements. The governments main weapon was social programs for the unemployed, not for the international central banks and money men like Bill Gross. This government is nothing like that one.

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I think you're right Doc, and I think this establishment bailout guarantees 4 more years at least. Don't want to drift off topic, but the USA Today poll is now suddenly showing the establishment candidate with a 10% lead :blink: and could become even more as stocks rally higher. I'm doubting now that alternative energy stocks will be the next big wave, might just be more Big Oil and more weapons stocks for next 4 years. And I guess banks and borkerages. :mellow:

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#350 roxy

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Posted 07 September 2008 - 11:59 PM

Makes me sick. All of it. The politics, the stupidity and self serving hypocrisy of the American people, the greed and avarice of the money class, and the willingness of everybody else to emulate that. As an outside observer, chronicling the decay is fascinating. As a member of society, it's sickening. Our society is so narcissistic, no one ever dreamed that there would be consequences for this massive fraud of a life we have built for ourselves.

All I want to do anymore is be with my wife and our grandchildren, our kids and our extended families.

The rest is just a bunch of crap. Absolute total crap.

The US is not just busted, it's broken. Financially, ethically, morally, and spiritually broken and bankrupt. For those of us of a certain age, it's just a matter of playing out the string now. There's nowhere to go that isn't infected by this societal moral bankruptcy. You younger people that still have a moral compass, I wish you well. It will not be easy, living your lives in the twilight of this empire, surrounded by this all encompassing rot.

Turn inward and devote yourselves to the matters of the heart and the spirit. It's the little world that counts, the world that exists in the cocoon of family.That's the only place to find true peace and contentment. Take care of your family relationships. Don't screw that up. Because in the end, that's all you got. All this outside stuff, let go of it. 'Cause it's goin' down, and if you don't want to go down with it, you gotta nurture that cocoon and those within it, and they in turn will nurture your spirit. Let that be your protection and salvation in the dark times that lie ahead.

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Oh, c'mon. At least a billion of people is living for $1 a day.

So what will happen with USA? The unemployment doubles? The average income falls by 50%? Another 10 million homes go to foreclosure? Or 20 million? So what?

This is NO BIG DEAL. This still will be the INCREDIBLE PROSPERITY.

#351 shorty

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Posted 08 September 2008 - 12:03 AM

Oh, c'mon. At least a billion of people is living for $1 a day.

So what will happen with USA? The unemployment doubles? The average income falls by 50%? Another 10 million homes go to foreclosure? Or 20 million? So what?

This is NO BIG DEAL. This still will be the INCREDIBLE PROSPERITY.

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You missed the entire point of his post.

He's saying it's NOT JUST ABOUT MONEY (or "prosperity").

It's about ethics, morals, spirituality, and family....about people, not things.

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#352 roxy

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Posted 08 September 2008 - 12:09 AM

You missed the entire point of his post.

He's saying it's NOT JUST ABOUT MONEY (or "prosperity").

It's about ethics, morals, spirituality, and family....about people, not things.

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You're right, you're right. I'm often replying not to the post but to something it triggered in my mind :)

I've heard that the moral and optimism in USA during the great depression was well above many other countries that even didn't suffer that much.

This nation can clean it up pretty fast.

#353 shorty

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Posted 08 September 2008 - 12:21 AM

You're right, you're right. I'm often replying not to the post but to something it triggered in my mind  :)

I've heard that the moral and optimism in USA during the great depression was well above many other countries that even didn't suffer that much.

This nation can clean it up pretty fast.

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I hope that's true, that some positive societal change can come out of all this, but it sure seems at the moment that reckless fraud is being outrageously rewarded while prudent honest hard-working folks are made out to be fools.

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#354 shorty

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Posted 08 September 2008 - 12:25 AM

night session volume is active, but nowhere near as heavy as I had expected

kind of eerie

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#355 shorty

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Posted 08 September 2008 - 12:40 AM

question for bond guys

besides making Treasury paper relatively less desirable now compared to MBS, doesn't this bailout do the same to all other corporate paper? haircuts?

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#356 cbear

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Posted 08 September 2008 - 01:23 AM

EUR/JPY opens with 300 pips gap up, trading at 156.25 right now. Congrats to the stoolie who went long 152.50 on friday.

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Closed my long when I woke up in the morning, at 155.90. Pretty good over the weekend deal. Also closed my ASX 200 long from the close on Friday. A bit early at 5040, the sucker went to 5080 later on.

Wish I had held my DOW long from Friday. Bailed out of that one at the close on Friday and thought I did pretty good.

Waiting to reenter everything on the SHORT side. Starting with the ASX 200 at the close of business today, in about 35 minutes time. Later tonight (AM Monday New York time), I'll get the USD/Yen & Euro/Yen SHORT in and finally the DOW short.

#357 Private Skidmark

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Posted 08 September 2008 - 02:00 AM

Old Yeller is makin' a run for it. Go Yeller! :)

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The highest compliment you can pay a man today is that hes a fairly convincing approximation of a real person.

"You trade physical gold with balls, not with a ruler, until your balls get pressed into ball oil and you're forced to obtain your meals from the dumpster behind the local Krispy Kreme. And then the sun comes out again." - Skidmark

"If you can't stand the heat, break the thermometer in the kitchen." - Benjamin S. Bernanke upon ceasing publication of M3 data

#358 Private Skidmark

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Posted 08 September 2008 - 02:13 AM

Then met by a wall of selling. Now, who would do such a thing? :rolleyes:

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The highest compliment you can pay a man today is that hes a fairly convincing approximation of a real person.

"You trade physical gold with balls, not with a ruler, until your balls get pressed into ball oil and you're forced to obtain your meals from the dumpster behind the local Krispy Kreme. And then the sun comes out again." - Skidmark

"If you can't stand the heat, break the thermometer in the kitchen." - Benjamin S. Bernanke upon ceasing publication of M3 data

#359 Brick Stoolhouse

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Posted 08 September 2008 - 05:36 AM

Then met by a wall of selling. Now, who would do such a thing? :rolleyes:

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Just think of how strong the dollar will get if they bail out the big 3 automakers!
Co-ordinated central bank intervention to save the system from collapsing
“A million seconds is 11.5 days. A billion seconds is about 32 years. A trillion seconds is 32,000 years."

#360 Jimbo

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Posted 08 September 2008 - 05:51 AM

FRONT RUNNING THE BAIL OUTS

Auto's next - expect call options in GM and F to explode in value.

Like a junkie - each new bail out hit of government credit becomes easier and easier as america is effectively nationalised. :ph34r:

Where is the bail out ETF????

They could call it the paulson fund :ph34r:
timoleon





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