Why isn't the simulas having an effect? - Striper Talk Striped Bass Fishing, Surfcasting, Boating

spence · 02-21-2009, 06:10 PM

Ok, now you're just being stupid.

-spence

striperman36 · 02-21-2009, 07:25 PM

YEAH talk to me at DJI 6000 in 2 weeks.

No confidence is reflected in the marketplace

spence · 02-21-2009, 07:48 PM

The problem is, we still have major national banks which are insolvent.

This is not Obama's fault.

I do think we should be very careful nationalizing any banks (i.e. let's not) and it's looking like the Obama Administration agrees.

This is a good thing.

-spence

striperman36 · 02-21-2009, 07:58 PM

Isn't majority ownership as much a nationalization?
Although this little tidbit from WSJ

The White House tried to knock down speculation that the government is preparing to nationalize several large U.S. banks, but some bankers complained that the Obama administration needs to act even more aggressively to shore up confidence in battered financial institutions.
Robert Gibbs, a White House spokesman, said Friday afternoon that the month-old Obama administration "continues to strongly believe that a privately held banking system is the correct way to go."
The comments reversed a broader decline by U.S. stocks that at one point pushed the Dow Jones Industrial Average close to 1997 levels. Still, the Dow finished down 100.28 points, or 1.3%, to 7365.67, a new low for the current bear market. Friday's decline left the Dow with its worst weekly drop in four months.

However, the market is still having doubts.

The government has obviously decided to let us stew for another weekend. All we really know is that we either are or are not going to be beneficiaries of knowing some details of the bank "restructuring" plan within a few days. In the meantime, the market will have to continue feeding on uncertainty.

And you weren't at PlugFest either

Swimmer · 02-22-2009, 03:50 PM

Quote:

Originally Posted by spence

The problem is, we still have major national banks which are insolvent.

This is not Obama's fault.

-spence

Sure it is, the buck stops here remember.

likwid · 02-23-2009, 02:41 PM

Quote:

Originally Posted by Swimmer

Sure it is, the buck stops here remember.

God I wish it would.

buckman · 02-22-2009, 08:01 AM

Quote:

Originally Posted by spence

Ok, now you're just being stupid.

-spence

Educated guys?

Backbeach Jake · 02-22-2009, 09:22 AM

My take on DJ. It's gambleing plain and simple. You give a guy your bucks to grow a business, he gives himself a hefty check and bonus because he thinks the money is his. And since the money is "his" now he will try to keep it all. Except for a piddly portion that he pays back to to his suckers to keep them quiet. Until the whole thing comes unwound, then he gets the Government to tax the suckers to pay back the money he "lost".

buckman · 02-22-2009, 10:03 AM

Quote:

Originally Posted by Backbeach Jake

My take on DJ. It's gambleing plain and simple. You give a guy your bucks to grow a business, he gives himself a hefty check and bonus because he thinks the money is his. And since the money is "his" now he will try to keep it all. Except for a piddly portion that he pays back to to his suckers to keep them quiet. Until the whole thing comes unwound, then he gets the Government to tax the suckers to pay back the money he "lost".

It's also where most people have there hopes for retirement deposited.

Backbeach Jake · 02-22-2009, 03:30 PM

Quote:

Originally Posted by buckman

It's also where most people have there hopes for retirement deposited.

my point exactly. These shysters have crushed dreams, ruined lives and educations, and have lived pretty high on the hog from the blood and sweat of their victims. Now that is all in shards, they want their victims to foot the bill and sadly they have to or the whole shebang goes up in flames. I had a 401k eviserated in the 80s, I salvaged what was left and invested else where, where I had and have a modicum of control. This last "adventure' would have ruined me otherwise. And may still yet.

Backbeach Jake · 02-22-2009, 03:34 PM

Back to the question, the market hasn't responded because of fear and distrust. When the guys who run the investments start to behave responsibly and hell even legally, the investers will return. You can't fool all of the people all of the time. I pray it works, too, buckman. The people don't deserve this and right now they're scared, angry and mistrustful.