Comments on: Katrina II: Wall Street Edition

By: RobM

RobM — Tue, 14 Oct 2008 05:25:25 +0000

Yours is the 2nd article I've seen today about the Katrinaization of the Bush administration. Katriniaization means the substitution of ideology over competence and expertise. the acknowledgement of Brownie doing a good job.
Here is the Brownie of the day Henry Paulson, his 3rd treasury secretary. (In full disclosure I advocated on these pages for the buying of mortgage backed securities.).
This is his movement towards understanding the housing /mortgage crisis:
http://www.timesonline.co.uk/tol/comment/column...

By: rawdawgbuffalo

rawdawgbuffalo — Tue, 14 Oct 2008 04:42:13 +0000

By: hustleandfloe

hustleandfloe — Tue, 14 Oct 2008 03:44:49 +0000

agree: any kind of change will see a rise in stability in the markets and buying in now, e.g. via index looks like it may make sense, esp. with prices low and before they succeed in artificial and too-early reheating instead of just truthing it out & letting the bottom hit and dropping those sorry banks that went stupid on derivatives.

By: Sepia

Sepia — Tue, 14 Oct 2008 03:37:22 +0000

Why aren't you asking the same of McCain?

By: RobM

RobM — Tue, 14 Oct 2008 01:25:25 +0000

By: rawdawgbuffalo

rawdawgbuffalo — Tue, 14 Oct 2008 00:42:13 +0000

By: hustleandfloe

hustleandfloe — Mon, 13 Oct 2008 23:44:49 +0000

By: Sepia

Sepia — Mon, 13 Oct 2008 23:37:22 +0000

Why aren't you asking the same of McCain?

By: Rob M

Rob M — Mon, 13 Oct 2008 22:25:25 +0000

By: rawdawgbuffalo

rawdawgbuffalo — Mon, 13 Oct 2008 21:42:13 +0000

http://rawdawgb.blogspot.com/2008/10/deposits-and-despots.html'>deposits and despots
. I gues Mayer Amschel Rothschild was right “Give me control over a nation’s currency, and I care not who makes its laws.”

By: hustleandfloe

hustleandfloe — Mon, 13 Oct 2008 21:09:52 +0000

well said. it's really behavior we're talking about with respect to all of this, the economy, green, etc. Consumers can make whole systems change immediately – can make McD put salad? on the menu. we set ourselves up for the same duping 20 yrs from now when we're lulled to sleep again with what george carlin talked about: stuff.

By: hustleandfloe

hustleandfloe — Mon, 13 Oct 2008 20:44:49 +0000

By: Sepia

Sepia — Mon, 13 Oct 2008 20:37:22 +0000

Why aren't you asking the same of McCain?

By: WATCH US EXPLODE

WATCH US EXPLODE — Mon, 13 Oct 2008 17:33:39 +0000

Markets rise, markets fall... there'll be good times, and there'll be bad times... yin and yang... equilibrium.

I'm in the markets, and manage my own fledgling portfolio, and I'm not panicking just yet, and don't see any reason to do so. We will rebound sooner than most people think.

That we are in the middle of an election certainly doesn't help matters. There's uncertainty about who the next president will be. Once that's settled in a few weeks, I expect to start to see a confident consensus.

I will say that there definitely needs to be more government regulation of industry - specifically, in the financial sector. This should have always been the case, but, laissez-faire capitalism triumphed, and thus the trading of many rather complicated, and even unnecessary financial products went unchecked, helping to cause the predicament we find ourselves currently in. But, I think a lesson has been learned here, and we will see some change.

By: luci

luci — Mon, 13 Oct 2008 17:11:36 +0000

Speaking of Katrina . . . When will Obama say NewOrleans will be a priority. And we will see the people return to their homes. Would have been the perfect answer to the final question in the last debate. He could inspire the nation to creatively make it happen.

By: cheryl aka jill tubman

cheryl aka jill tubman — Mon, 13 Oct 2008 17:05:16 +0000

I'm not trying to spread fear and in fact, I've written before urging overall calm. My goal is to give folks another perspective on the bigger picture of what's happening and to use their own analysis when watching the news. I think it's important for people to understand what's actually happening and parse the news. Thanks for your thoughts which add another layer to this.

By: heartsandflowers

heartsandflowers — Mon, 13 Oct 2008 16:15:42 +0000

You know unless people are really willing to live with less and live on less not much is going to change in the end. The entire structure needs to change. This market is still operating under the premise of us buying every do-dad and gizmo annually. We can't afford it – and further we don't need it. My Ipod from 4 years ago still works fine but I'm 'supposed' to buy the newest release. It's ridiculous. Most of the core jobs that support an infrastructure have been shipped outside the US.

By: Jess Bart-Williams

Jess Bart-Williams — Mon, 13 Oct 2008 15:23:28 +0000

So... Did you have a suggestion here or were you just spewing hatred and fear on the page without regard to inciting a riot or mass panic? Cause I'm $250,000 upside down in my house right now, and I gotta say, I can't find anything in here that I haven't heard over and over again all week.

I am a registered Democrat and no fan of Bush. However, I'm pretty sure it takes more than a week or two to fix between 40 and 90 years of corruption/living on credit. And everyone (by that I mean the Federal Reserve, Congress and the G7) is convinced that Bush is not the one that is going to fix this, so let's stop going to that empty well, huh?

It's messed up. It's been messed up for a long time. We as a country have been actively trying to patch over this wound with a Band-Aid for a year now (remember your refund check and the lowered interest rates?), and now we need more drastic measures to (again) try to get the economy to respond. The stock market is not the indicator we are trying to shift, however. The stock market is a real-time indicator of consumer confidence, which I can't believe would be improved by the reading of your article.

If you are interested in regaining your 12% annual return on investment, I suggest you take an economics class. Remember them saying the stock market was unsustainable? This is what unsustainable looks like. Either we take the hit and reset the market now, or your parents/grandparents go hungry, or your children do. Who are you willing to sell out for your leased car and Starbucks coffee?

If you have an opinion on how you would like to spend the $700 billion dollars to heal the economy, I'd love to hear it. Or maybe we should just call our financial advisors and blame the government. It's all so "complicated and confusing," you know?...