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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (139516)	9/30/2008 3:46:51 PM
From: geode00	Read Replies (1) \| Respond to of 173976

Yes as I understand it the entire global 'investment' banking system (aka casino of greed and stupidity) is getting an enormous margin call. I don't think there is that much capital. It seems that these securities in all of their various flavors included some (many) that are Ponzi schemes in and of themselves where one layer of securities' cash flow is used to pay 'investors' in the others. On top of that, the ratings agencies either don't know, didn't care or were colluding with someone or everyone to rate these things much higher than they should have been. Are people stupid, corrupt or both? Paulson should be whipping his own people into shape. If there is a crisis of confidence, they are voting NO CONFIDENCE in Paulson just as Bush got a huge vote of NO CONFIDENCE from House Republicans including 15 out of 19 Texans....ditto for McIdiot. Paulson may be trying to get such a huge amount of money that his people will continue along their merry (and stupid) way by reducing their exposure to their own bad investments but given the market's reaction that $700 billion just doesn't seem to be enough money. Heck, the $1.6 or $1.8 trillion total including that already committed doesn't seem to be enough. That would lead me to believe that this bubble is enormous and people recognize is as a bubble. We might get a softer landing but lots of people are going get hit hard. It would also lead me to believe that somewhere lots of people are sitting on scads of money which they are going to use to buy real assets at bargain basement rates. :)