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Strategies & Market Trends : Value Investing
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To: Spekulatius who wrote (37218)4/3/2010 3:25:37 PM
From: Madharry1 Recommendation  Read Replies (2) of 78671
 
Saw the author on bloomberg last night. He was very enlightening and an excellent speaker. His take on the subprime situation: A. The regulators for whatever reason ignored it. ( not surprising since they have ignored everything else of note for a decade. Now that I know more about Geithner and Blair Im not at all surprised. As soon as the author realized the regulators were clueless he lost interest in that side of the story. B. The rating agency people were either out of their league or so incentivized that they were desperate to look the other way and place total reliance on a poor model. C. The CEOs didnt understand the product except that it made a lot of money. D. The people within organizations who recognized this would be a problem down the road and voiced warnings were drowned out by the more powerful people making tons of money selling the product. E. what exactly happened at aig that they allowed Goldman SUcks to persuade them to put on a risky product sell $60 billion worth of insurance that eventually would wipe out shareholders was not clear from his discussion.

He mentioned that he was asked to speak at a book club of Republican Congressmen and as they listened and he explained he could practically see smoke coming out of their ears.

What I wonder now is there some level where it makes sense to own US dollars, and where might that level be? seems clear to me that we are going to very soon enter a new period of american economics. We will see a severe decline in municipal and state services across the board. I am seeing many more potholes than i did in seasons past where I live.
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