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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Metacomet who wrote (81070)	10/9/2011 12:19:49 PM
From: Maurice Winn	2 Recommendations Respond to of 217551

MC, it's funny to see people voting for what they get then whining when what they voted for happens. You wanted Big Brother government, got it, then complain when they do what they would of course do. Don't worry about it if somebody wants to pay umpty$millions to a failed bank employee. As our great, wonderful and estimable idol Alan Greenspan KBE said, shareholders can reasonably be expected to manage their risks. He was shocked that they did not. The result of their failure was the big financial crunch. Tarp resulted in big profits to citizens so that worked out okay for both the banks and the citizen creditors. I was going to step in and buy a couple of banks but Tarp bid more than I was going to. How is it a problem for the writer of that blather if some bank employee gets paid $millions as according to their contract? If they don't like dealing with that bank, deal with another. It's not as though there is a shortage of financial institutions to choose from. There is also the money under the mattress "bank". With zero interest rate, that's a reasonable place to keep it. The mortgage problem wasn't just the government insistence of dodgy loans to dodgy people, to be subsidized by others, but that was part of it. Fannie and Freddie were government guaranteed. With a guarantee, it's not surprising that people take advantage of the guarantee. The same thing happened in NZ. The government decided to give a guarantee to financial institutions. I was going to start a company called "Casino Investments". People could give us their savings. We'd take it to the casino and put it on red. If black came up, we'd go and get our money back from the government guarantee department. Unfortunately, the government realized quite quickly how much money they could lose. So they limited the guarantee to crony capitalists who made out like bandits and went bust, getting the government to pay out $billions. Socialists like it when governments "save" banks so they can make multi$million payouts. Then they whine when the bankers do what they do. To solve that problem, they'll say the banks have to be nationalized. That will make the failure of USSR proportions with Made in China levels of Maoistic poverty. If you think those payments were bad, wait until you experience the fun of compulsory banking with the government department. They will make loans. To their friends like Solyndra. The results will be no better. Voting for something, then complaining about getting what you voted for is silly. If you don't think those multi$million payouts were a good idea, start a competing bank that does it right and get lots of customers by offering cheaper prices than those multi$million banks offer. Annoying people by blocking Wall Street won't improve banking. Competition will. Those demonstrators should form a "We Blocked Wall Street" bank, deposit their money with it and borrow money from it. But they are too hopeless to do that. Mqurice

To: Metacomet who wrote (81070)	10/9/2011 12:19:50 PM
From: Maurice Winn	1 Recommendation Respond to of 217551

MC, it's funny to see people voting for what they get then whining when what they voted for happens. You wanted Big Brother government, got it, then complain when they do what they would of course do. Don't worry about it if somebody wants to pay umpty$millions to a failed bank employee. As our great, wonderful and estimable idol Alan Greenspan KBE said, shareholders can reasonably be expected to manage their risks. He was shocked that they did not. The result of their failure was the big financial crunch. Tarp resulted in big profits to citizens so that worked out okay for both the banks and the citizen creditors. I was going to step in and buy a couple of banks but Tarp bid more than I was going to. How is it a problem for the writer of that blather if some bank employee gets paid $millions as according to their contract? If they don't like dealing with that bank, deal with another. It's not as though there is a shortage of financial institutions to choose from. There is also the money under the mattress "bank". With zero interest rate, that's a reasonable place to keep it. The mortgage problem wasn't just the government insistence of dodgy loans to dodgy people, to be subsidized by others, but that was part of it. Fannie and Freddie were government guaranteed. With a guarantee, it's not surprising that people take advantage of the guarantee. The same thing happened in NZ. The government decided to give a guarantee to financial institutions. I was going to start a company called "Casino Investments". People could give us their savings. We'd take it to the casino and put it on red. If black came up, we'd go and get our money back from the government guarantee department. Unfortunately, the government realized quite quickly how much money they could lose. So they limited the guarantee to crony capitalists who made out like bandits and went bust, getting the government to pay out $billions. Socialists like it when governments "save" banks so they can make multi$million payouts. Then they whine when the bankers do what they do. To solve that problem, they'll say the banks have to be nationalized. That will make the failure of USSR proportions with Made in China levels of Maoistic poverty. If you think those payments were bad, wait until you experience the fun of compulsory banking with the government department. They will make loans. To their friends like Solyndra. The results will be no better. Voting for something, then complaining about getting what you voted for is silly. If you don't think those multi$million payouts were a good idea, start a competing bank that does it right and get lots of customers by offering cheaper prices than those multi$million banks offer. Annoying people by blocking Wall Street won't improve banking. Competition will. Those demonstrators should form a "We Blocked Wall Street" bank, deposit their money with it and borrow money from it. But they are too hopeless to do that. Mqurice