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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: MythMan who wrote (381488)	3/4/2009 11:42:12 AM
From: Real Man	Read Replies (1) \| Respond to of 436258

Sell the bond. It's going down, bounce or Armageddon. A no brainer IMHO. -g-

To: MythMan who wrote (381488)	3/4/2009 12:52:11 PM
From: Trumptown	Read Replies (1) \| Respond to of 436258

lol...meet the new team, worse than the old team...sad days ahead. cnbc.com At the risk of redundancy I'll ask it again: Is he? Is President Obama effin' CRAZY? President Obama blames the continuing global financial crisis for the unmitigated carnage on Monday, when the Dow fell below 7000 and closed down 300 points (or 4.2 percent) at a 12-year low of 6763. Bullspit! The man is in denial. By now we know the economy is ailing. The main thing that has changed: The disturbing details of Obama’s tax-and-spend plans are becoming all too clear. Most of the moves he has made in his first 43 days in office have been bad for the markets, damaging to investors, ill-advised for the economy and detrimental to repairing the financial collapse wracking the entire planet. Yesterday Treasury Secretary Timothy Geithner told a House committee the new budget’s “single most overriding priority” is to “stimulate private investment.” Yet Bam proposes to more than double the tax rate on hedge funds and private equity funds, engines of private-sector growth. Can’t be good for firms like Blackstone [BX 6.00 0.31 (+5.45%) ] He wants to rescue housing—but aims to cut back on the tax deduction for interest paid on mortgages, targeting anyone who earns over $208,000. Aren’t these the people who could most afford to buy a new home? That hurts homebuilders like Toll Brothers [TOL 15.06 0.67 (+4.66%) ]. Bam also wants to rebuild America’s industrial might. Yet his cap-and-trade program would slap billions of dollars in new taxes on manufacturers for the emissions that are a byproduct of making goods. That could hurt General Motors [GM 2.15 0.16 (+8.04%) ] and Caterpillar [CAT 25.74 3.27 (+14.55%) ] and United Technologies [UTX 39.26 0.71 (+1.84%) ] and other behemoths. Worst of all, the President has kept Wall Street in the dark, pretty much, on how to fix the big banks’ toxic assets. On Tuesday President Obama's minions floated yet another painfully tentative trial balloon—a full four months after we elected this guy. Uncertainty kills on Wall Street, and yet once again the Bama posse is infuriatingly vague on details. The latest plan would set up several public-private funds to bid on toxic assets with the help of government loans. But we don't know how many funds, who would run them, what the price tag might be and how government and the private guys would split up the risks and rewards. Nor is it clear how this multi-headed hydra would heal the primary affliction infecting mortgage-backed securities: No one knows the right price for these damaged goods. That’s because we don’t know how much they have been marked down already, how bad the defaults will get, or what the government rules will be for working out this mess. One hope: that the Obama boys would use the TALF (Term Asset-backed Lending Facility) to grant government loans to the brave souls who buy toxic mortgage assets. So far TALF aims mainly at loans for cars, college students and credit cards; using it for shredded mortgage assets is merely "under consideration," Treasury said yesterday.