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Politics : RAMTRONIAN's Cache Inn

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To: NightOwl who wrote (13764)	1/30/2008 6:18:46 PM
From: NightOwl	of 14464

Well folks... Its pretty damn clear what brought the Fed rate to these pitiable levels... and what is keeping a lid on the dollar, markets and economic outlook: *FBI's subprime crackdown may expand to more firms* reuters.com The indexes aren't going anywhere until this shoe falls all the way off. No doubt you will hear a chorus of whining coming out of Wall Street trader types trying to lay the blame for this on the regulators of financial guaranty companies. Don't be fooled. What you are witnessing is just another example of the natural end product of the combined federal policies of the integration of financial services; i.e., brokerage/banking/insurance; followed by the deregulation of those services; topped off by a policy of favored reliance on illiquid, nontransparent, derivative instruments frequently incapable of valuation. Such policies... when combined with human greed; a sales (broker) driven market of increasingly short term speculation; and a single politically neutered regulatory authority... will inevitably end in an outbreak of fraud and corruption. Unfortunately, by my count the vaunted *Reagan Revolution... or as I like to call it, The Loony Libertarian Two Step... has now accounted for four such outbreaks: 1. The Savings & Loan Fiasco 2. The Great Western Energy Synergy 3. The Naked Short End of The Stick; and now 4. The Derivative Death Spiral. Anyone care to guess where the next... outbreak... will arise? I suggest keeping your eye on your balls. These brilliant Math-0-Magical Derivatived Salesmen get pretty desperate when you snatch the dress and the lipstick off their pigs. Their first instinct is often an attempt at mass hypnosis... followed almost immediately by a preemptive strike* to your tender nether regions or... as I like to call it... *The Shock And Awful Approach*. <Hoo><Hawwwww><ack!><Hack><Haa> 0\|0

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