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Politics : RAMTRONIAN's Cache Inn

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To: Tom Caruthers who wrote (14132)	9/15/2008 4:32:42 PM
From: NightOwl	Read Replies (2) of 14464

I don't know Mr. Caruthers... All leverage... short or long... appears to be death in any financial market where the people running the game also serve as the banker and can trade in their own interests. It doesn't feel very "cathartic" to me. It seems more like a fairly orderly drive to fill all the gaping holes in every Broker/Banker's balance sheet by calling in the debt that should never have been issued in the first place. It's probably the last bubble of the Greenspan/Reagan bull market as well as the only real source of funds for the Broker/Bankers to get well. I think it started last year and is going to continue with these wild swings, up and down, until the Broker/Bankers get their fix. I have no clue how huge the hole they're trying to fill really is and I'm not sure they do either. But neither the people taking Lehman to Chapter 11... nor the folks running AIG, nor BoA seem like they are in "panic" mode to me. Certainly nothing like the "panic" being felt by the useless employees the brokerage industry is proceeding to gut. What I find really shocking is the fact that New York is going to let AIG's well capitalized insurance subsidiaries transfer assets to the gawdawful credit/scam businesses of the parent company... And they have the nerve to say "taxpayers" aren't at risk... As though taxpayers aren't the same people who buy insurance... Must be time for my virtually "free lunch." In 10 years or less we'll be... well someone will be... sitting here proclaiming the stupidity of "integrated financial services" [The other enabling act of Greenspan/Reagan] when one of the services being integrated is an unregulated fraud fest like Wall Street's bank/broker lending businesses. But hey... what do I care... I've got a piece of *The BIG Rock*... and it makes Prudential's little pebble look like a gall stone. 0\|0

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