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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (417891)	9/18/2008 11:58:12 PM
From: tejek	Read Replies (1) \| Respond to of 1577098

Yeah and most of it goes into the government coffers. The biggest question, really a (paranoid?) fearful idea, is if there was intention on the part of the government. Are they trying to nationalize these industries? No, I don't think so. I think the motivation is fear. They are scared to death everything is falling a part. All they are putting into place now is what Cramer said they should do last summer [2007]. At the time, he said the longer they wait to do it the worse it will get.....and he was right. Remember this is an administration whose ideology says gov't needs to stay out of the affairs of business. People like Harris and inoys have been saying there is no real problem. People like Tim believe that gov't regulation is communism. These are the kinds of people who populate this administration. So they played at fixing things during the past year. Consequently, the problems have gotten much worse. What was a bad gash that had become infected is now gangrened and may require amputation. And its not just us......LEH's major assets were in Europe. Same with AIG. China has bought into a lot of American securities. Financial systems are seizing up all around the world. Plus, there is talk that LEH had set up special offshore margined accounts. Now the funds in those accounts are inaccessible....tied up in the bankruptcy. Some hedge funds had significant monies in those accounts. Because they are unable to get hold of those monies, they are liquidating stocks in other accounts to have sufficient cash to pay redemptions......its believed that's one of the contributing factors for why so many stocks keeping going down, down, down. Bottomline: its all interlocked........country to country, company to company, hedge fund to hedge fund. The only good thing this administration has done in 8 years is appoint Paulson as Secretary of the Treasury. As the former CEO of GS, he understands this stuff...financial derivatives, CDOs, subprime mortgages, etc....better than anyone else. If we have a chance of getting out of this mess without a major breakdown in global finances and a serious depression, it will be due to him IMO. And thank God inflation seems to be getting under control......it would be a total nightmare if inflation were still a problem.