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To: maceng2 who wrote (73384)	5/7/2010 3:31:28 AM
From: Haim R. Branisteanu	2 Recommendations Respond to of 74559

What a joke related to the US rating agencies they are corrupt as is all WS. After generating the mayhem related to the PIIGS sovereign rating and the market turmoil of last week which prompted a telephone conference of the head of states of the G-7, all of a sudden Italy debt is rated "STABLE" by Moody's and Fitch - just a few days after downgrading Spain and Portugal .... and Greece The all are Sleazebags and scums – they deserve the punishment for Islamic Dimhi I only hope that today the heads of state of the EU will rule their corrupt rating as irrelevant period

To: maceng2 who wrote (73384)	5/7/2010 9:41:20 AM
From: Maurice Winn	1 Recommendation Read Replies (2) \| Respond to of 74559

Enplus, the difference in Uncle Al KBE's positions is because what we'd like and what we get are two different things. He didn't invent the Federal Reserve, he was simply offered the job of running it and since that sort of thing was within his skill set and interests he accepted. I was against lead in petrol but had a job ensuring the right amount was put in, while continuing to argue against putting it in. I'm against NZ's government, but accept that the electorate has chosen to do things like that so I pay my taxes and comply with as many laws as I think I have to without getting into too much trouble. It doesn't mean he's a crook, hypocrite, trying to diddle the public, get money for the rich from the poor etc. There are plenty of laws covering fraud, theft, embezzlement, and what have you, with wall to wall compliance officers employed to ensure the company's employees don't get into trouble. < His idea of what government regulatory bodies should do is effectively nothing while the thieves and crooks who run Wall Street et al ransack the world. > While it's true that I invest in the markets in a zero sum game with other investors, it isn't that either me or my counter-parties are thieves and crooks, we just have different opinions about what's going to happen and put our money where our mouths are. One of us will win, one will lose and the house will take a cut for handling the process. The government takes a cut from the winner and the broker. As usual, the only bandit on the scene is the government whose job should be only to enforce the laws protecting property rights. As Sir Green$pan himself said, he did make a mistake and that was to think that the shareholders of banks would act in their own interests. His assumption had been that they wouldn't want to lose their money so wouldn't take on excessive risk putting their banks and all those who depend on them in danger of going broke. As is obvious from electorates making choices to vote themselves into financial oblivion, election after election, that wasn't a sound assumption. The USA voted for Barack Obama, Nancy Pelosi and co, who are now making the banks look like rank amateurs in destroying the financial system. The USA votes to turn food into fuel, paying farmers umpty mega$billion to do so, then they wonder why the price of food is so high. Uncle Al KBE was a steady and sensible hand for a couple of decades, keeping the financial system steady as she goes. Good enough for government work anyway. I made sure people got the right amount of lead in their food and air and water [via vehicle exhaust systems]. I'm busy inventing a better currency for the world than those silly national currencies, but in the meantime, they are the best we have available, so we need people who are fairly sensible to run them as best they can, for all the deficiencies of the system, with politicians in ultimate control. You don't really think you can put people like Al Gore in charge and expect to have things go well do you? He would bring in an emissions trading scheme and get rich. Mqurice