MONEY CULTURE | Daniel Gross

Hedge Fund Nation

How we're all about to become Wall Street investors

By Daniel Gross | Newsweek Web Exclusive

Oct 1, 2008 | Updated: 3:10 p.m. ET Oct 1, 2008

« Return to Article

Discuss

Posted By: cani77 @ 10/03/2008 10:08:47 PM

Comment: The Bush Depression

In a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit.Bush created a national debt larger then the first 42 presidents combined
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why isnt obama 25 points ahead

The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

Let's teach him we are smarter than that .

31 states are voting now, dont wait
Elect Obama Biden 2008

Check out this video of sarah palins interview before you vote

http://www.youtube.com/watch?v=r36Xc0GG4i
Posted By: Krohn @ 10/03/2008 7:53:24 AM

Comment: You may not like Bill, but sometimes you have to love him!
http://www.foxnews.com/video/index.html
Posted By: cani77 @ 10/02/2008 11:33:41 PM

Comment: n a few weeks we will make a choice that will decide our future.
I follow an economist named Bob Proctor. He has called the top and bottom of every market crash since the 70s correctly.
Also, he perfectly predicted the current real estate market meltdown and the picture he paints about what will happen in the next couple years
is terrifying.He thinks it will be worse then the great depression.
The banks in the U.S. are going under one after the other. Countrywide the largest morgage bank in the world,Bear Stearns, Lehman Brothers and Merrill Lynch which are 3 out of the top 5 wall street firms. Also, Fanny and Freddy Mae which hold 50 percent of the home loans in the United States.
The government took them over because they are essentially bankrupt.If they didn't the entire financially system would virtually shut down, the stock market would crash and we would suffer beyond what any of us have seen before.

McCain just like Bush " doesn't understand the economy".
That not just my opinion its his own words. Not only does he not understand how to fix it but he does not understand exactly what is broken.
It is no surprise that he doesn't. The people that make up these securities use complex mathematical models very few people understand.
Bush and McCain both can take the credit for this mess since they helped deregulate the laws that were protecting us.

Bush's economic advisor Phil Graham wrote the deregulation bill that allowed banks to take huge risks with all of our future.
Now, Phil Graham is the head of McCain's economic policy.He is also McCain's choice for the next secretary of the treasury.
No one in this country can afford for that to happen. The last time Bush met with his economic advisors was in March. He either didn't care or didn't realize that anything was wrong. Phil Graham had the guts to say that we are in a mental recession after he helped create the worst economy meltdown in our lifetime.
It will take the best and brightest minds in the world to get us out of this nightmare. As bad as Bush has done, McCain would be
even more destructive because things are in much worse shape. The next president will not inherit a surplus like Bush did but a tanking economy and a 11,600,000,000,000 (trillion) dollars deficit. Most of it Bush created and it will take decades to pay it back.
If you do what you have always done then you will get what you have always got.
When it comes to policy Bush and McCain are the same 90 percent of the time.
So why are the polls even close then ?

The chairman of McCains campaign recently said that people don't vote on issues they vote on a personality composite. Which means he is trying to sell you personality instead of results.

He believes people will vote against their own interests.

Hold them accountable NOW!
Elect Obama Biden 2008

Check out this video of sarah palins interview it will blow you away

http://www.youtube.com/watch?v=r36Xc0GG4iQ
Posted By: olderwiser @ 10/02/2008 2:02:07 PM

Comment: This bailout is so reminiscent of the rush to go to war with Iraq. The same president proposes it. The same president says that it must begin immediately to avert tragedy. The same pressure on congress is applied to suppress debate and dissent. The same time frame, being the month before a national election is in place, adding fear of losing one's office if debate is even suggested, and it includes the same panic prone public, now trained to be fearful by the same president who started all of this crap. It is a shame that we can't impeach him after he crawls back home from the debris of his tenure in our highest office. Nothing is too urgent to debate and inform a public which has not been adequately informed as it should, by the process of lengthy debate in congress and a press which reports it to the public. What we have now is packaged gobbledegook and wide eyed government officials urging us to hurry and put common folk in taxable debt for eons to save an undeserving investment community and worse, an undeserving administration which regrets that it couldn't talk us into putting our social security proceeds in the stock market.
Posted By: OLDFOOL @ 10/02/2008 12:58:56 PM

Comment: W. C. Fields, Will Rogers, Mark Twain, Groucho Marx, Barnum and Bailey, all knew something we have yet to learn in this 'new global economy' of the 21st century: as much as things change away, they remain the same. Americans must relearn to NEVER TRUST ANY POLITICIAN. DON'T TRUST, HOLD ALL POLITICIANS ACCOUNTABLE. WHEN THEY FALL, SEND THEM TO PRISON. HERE'S A HORRIBLE TRUTH FOR Y'ALL: REVIEW THE GLASS-STEAGALL ACT OF 1933 RECENTLY REPEALED BY PHIL GRAMM ET ALL IN 1999. OH YEA, FOLKS, WE ARE DEAD. REVOLT. REMOVE ALL POLITICIANS AND START ALL OVER AGAIN.
Posted By: olderwiser @ 10/02/2008 9:47:11 AM

Comment: A pox on both parties. Our House and Senate are dysfunctional. Just look at them. An idiot prince of a president who has screwed up practically everything that he has touched for eight years waits until the whole economy collapses and then offers a stupid and destructive remedy that is destined to drive us deeper into the abyss. Then, the house and the senate jump on his bandwagon to try to make it happen. It is as if they never saw this administration's ineptitude--the abandonment of Afghanistan, the useless and consumptive war in Iraq, the diddling of the economy, the urging of the citizenry to go out and charge everything and borrow on their home equity when they ran out of money to buy junk from China, and the constant urging that we must be fearful so that the idiot prince could "protect the American People". How about complimenting the head of FEMA for his "good job Brownie" in protecting the citizens while they were pleading with him to rescue them from their rooftops. This is the same person who presented this bailout as a solution to the ills caused by his own economic policies. Then, look at the Speaker of the House, berating the opposing party before asking for a vote to bail out the whole mess. The quality of our government has fallen. We need to raise it. Soon.
What we need is a good, healthy, educational, therapeutic economic crash. Now. The sooner we get it over with, the better it will be. The same administration that has constantly given credit to the "business community", including Wall Street, for adjusting itself without regulation needs to now follow that advice.
- Posted By: jarcher1 @ 10/04/2008 7:59:53 AM
  
  Comment: You know, in 2000 I was warning people that G. W. Bush had led a life of Daddy setting him up in an endeavor, Dubya screwing it up, and Daddy and or his friends bailing him out. I said then that the mistakes he could make as President would be beyond Daddy's friend's correction. I have to admit in retrospect that my imagination then was insufficient to match the reality of today. Who'd have thunk he could screw up so much in only 8 years?
Posted By: olderwiser @ 10/02/2008 9:32:29 AM

Comment: While we are at it, let's look at the raise to $250,000 to cover our bank deposits when there is not even enough cash to cover the $100,000 limit. Now, that's what I call real transparency. You can see through it. It is anesthesia. It is clearly a diminution of dollar values. I still remember the newsreels (no TV, Biden) during the 1930's showing Germans going to the grocery store with wheelbarrows full of paper currency to buy groceries. It's easy, if you are the government, to just print whatever amount of money that you need to make your figures work. It was in that period, the early 1930's, that Adolph Hitler became the dictator who was elected by people who were desperate to fine some normalcy in the face of such madness. And that is where the rub is that we now face. We have a choice of continuing to feed the monster that got us were we are now with ever cheapening cash dollars, and crash bigger, later, or we can crash now and recover sooner. I see, in the ignorance that you say that I possess, wheelbarrows full of money in this bailout. Worthless cash caused by escalation of fallacious economic policies. None of either the creators or the supporters of this bailout will say that it is certain to work. All of them know that it is a temporary bailout to just get them through November so that they can be re-elected. They are Scarlett O'Hara, of Gone With The Wind, saying, "I'll worry about that tomorrow".
Posted By: vippy @ 10/02/2008 8:18:37 AM

Comment: It seems to me that if you are broke then you have to have a viable working plan. How does the limit of the FDIC get raised to $ 250,000 when they asked for $ 150 billion a week ago and claimed they were broke because of the bailout of INDYMAC? If $ 700 billion was a shock and it would not pass, why then would even
a larger bailout pass? Just does not make any sense at all. I questioned the same when congress passed a new budget which was even larger than last year's. No wonder, we have incompetent people at the helm.
Posted By: TruthForward @ 10/02/2008 7:11:17 AM

Comment: The only way the bailout could work for tax payers is if the assets are purchased at a bargain rate. The current market rate if very low: maybe 20 cents on the dollar. If the treasury overpay, then I would question the sincerity of the deal.
Posted By: phiomalibumalibu @ 10/02/2008 3:06:33 AM

Comment: This is a very a sad day in America.

1. America is losing thousands of jobs each day
2. Americans are losing thousands of homes each day
3. America is bailing out the rich
4. America's leaders have turned their backs on their own
5. America is no longer beautiful
Greedy Politicians are making us suffer again...gee thanks!
Posted By: BrotherLou @ 10/02/2008 1:37:57 AM

Comment: Why can't the government act just like the debt collecting agencies do? Buy up the bad debts at say 50 to 60% of face value. This would give the investment firms some quick cash to continue in business at a lower level, whilst the government would be able to arrange new terms with the distressed mortgagees simply because they would be holding them at a bargain price. The decline in value would be felt by the treasury (tax-payer) when the investment firm writes off his loss as a bad debt, but that would have been even greater if the house had just been left to fall apart or had been sold at auction for a few thousand dollars.
Posted By: underdog @ 10/02/2008 12:38:38 AM

Comment: Mc Cain is always talking about ending pork barrel projects. This thing just went up 100+ billion due to added pork. McCain and Obama voted for it. I realize we need the bailout, but I believe it should be as lean as possible, not fattened up. Is it to late to pick new candidates? The 2 we have seem to be defective.
- Posted By: clikdawg @ 10/02/2008 12:54:40 AM
  
  Comment: Alas, u-dog,this will turn out to be neither a "a bail-out" nor a "rescue", but simply the most enormous give-away of a lifetime. You think there were a lot of unaccounted-for billions connected with the on-going slush fund known as the War in Iraq? You ain't seen nothin' yet, podnuh. The whole enterprise smacks of fraud -- like a trumped-up casus belli when one nation decides to take by force what another nation has, but wants to look Noble and Selfless while doing it.
  
  You give 'em this, and they will pocket most of it and be back for more 'fore you can say Jack Sprat.
  
  A bubble is a bubble, compadre. It has no substance. It cannot be sustained indefinitely, whether made of soap or paper. The constructional elements that make it so (temporarily) flexable and expansive also destroy it in the long run.
  
  The "credit bubble" is simply a huge pyramid scheme, with the US Treasury as its final objective.
  
  Read 'em and weep, amigo -- and don't shoot the messenger, y'heah?
Posted By: clikdawg @ 10/02/2008 12:31:08 AM

Comment: Well, so much for "Change You Can Believe In" -- when Obama gasses about "ending" Bush policies, he means it in the sense of "completion".

"We're all in this together," my ass -- as Sam Spade says in 'The Maltese Falcon': "The cheaper the crook the gaudier the patter."
Posted By: underdog @ 10/01/2008 11:15:51 PM

Comment: Can the public agree it tis time for a constitutional amendment for term limits for our elected officials. 2 terms for a senator, 3 terms for a congressman. Most of the problems occured during the the terms of McCain, Kennedy, Pelosi, Reed, Biden ,etc. If senority and experience mean we will be left to bailout another industry, then we need to start rolling over new leadership. After the saving and loan bailout talk of term limits became popular. But, when the memory fades so do the actions. Well, here we are again bailing out another industry. We need to change leadership. One solid way to do that is limit the term in office.The job of career politician sould not exist. Most of our problems have occured with senior members in office. With time politicians seem to foget who they work for and why they are in office. I'm sure Duke Cunningham didn't start off as a bad public servant but, he endded up in jail. Seems like the senior republican senator from Alaska is about to end up doing time. William Jefferson, congressman from Louisiana has been in congress for more then 3 terms. Caught with $90,000 in his freezer from an FBI sting operation. The list goes on and on. This needs to end. We need to end the job title of "Career Plitician" on the national level. It has brought nothing but greef , again.
Posted By: clikdawg @ 10/01/2008 11:14:51 PM

Comment: "I'll gladly pay you Tuesday for a hamburger today." -- Wimpy
Posted By: pjam @ 10/01/2008 10:51:28 PM

Comment: Who needs Al-Quida when we have these SOB's as our leadership? They add $100 billion in tax breaks and call it a "sweeter rescue package" WOW thanks idiots. Since you'll "save " us 100 billion over the next 10 yrs we'll give you $700 billon now to maintain home and market prices at artificially high levels thereby costing americans many hundreds of billions more during the same time period. America has been taken hostage. Ron Paul looks better every day.
Posted By: pjam @ 10/01/2008 10:51:05 PM

Comment: Who needs Al-Quida when we have these SOB's as our leadership? They add $100 billion in tax breaks and call it a "sweeter rescue package" WOW thanks idiots. Since you'll "save " us 100 billion over the next 10 yrs we'll give you $700 billon now to maintain home and market prices at artificially high levels thereby costing americans many hundreds of billions more during the same time period. America has been taken hostage. Ron Paul looks better every day.
Posted By: Braes @ 10/01/2008 9:47:06 PM

Comment: In Willaim Jennings Bryant's time, it was a crucifixion on a 'cross of gold.'
Posted By: Krohn @ 10/01/2008 9:09:26 PM

Comment: A man of great wisdom:
http://www.atlah.org/broadcast/manningreport.html
Posted By: clikdawg @ 10/01/2008 7:48:21 PM

Comment: Yeah, it's like ol' Milo Minderbinder in "Catch-22" telling all the fly-boys that they've 'all got a share' -- while stealing their parachutes to make a quick buck on the war-hyped silk market. He DID leave a nicely printed stock certificate in the empty bags, though, so those who got killed 'cause they didn't have a chute when needed died knowing they were part of something bigger than themselves. Makes a man proud, no?
Posted By: olderwiser @ 10/01/2008 7:47:53 PM

Comment: All these years the people who own hedge fund shares have been complaining about government welfare, unearned, undeserved, unwarranted, unnecessary, unAmerican, to support worthless people. Now, when they want it, they want to receive it for your own good,unearned, undeserved, unwarranted, unnecessary, unAmerican, to support worthless people, hedge fund investors.
Posted By: olderwiser @ 10/01/2008 7:44:50 PM

Comment: How many ordinary people have you ever known who own a hedge fund or have invested in one. They start at a million dollars, just to get in. Wake up, dammit. Let them balance their own checkbook.
Posted By: olderwiser @ 10/01/2008 7:41:23 PM

Comment: Let it crash. Let the big money shrink back to where it was. Then, let the Democratic administration support the bottom of the ladder. That's where it belongs. They didn't get us here. We are giving medicine to the sick who got us here in the first place. Let it crash. None of this is being done to prevent pain for the ordinary people. All of this is being done to prevent pain for the super rich.
- Posted By: toolkit @ 10/01/2008 11:31:17 PM
  
  Comment: If you people don't understand why businesses need credit, you clearly aren't smart enough to earn enough money to pay any taxes. You guys are all a bunch of pathetic, give me, give me whiners. The top 5% of tax payers pay 50% of the taxes, the bottom 46% of taxpayers pay no federal income taxes and only take, take, take.
  
  Take about 10 minutes and read what started the crisis. It was government regulation that forced banks to make subprime loans to people who couldn't pay it back. That is your typical give me attitude that everyone deserves a home even if they can't pay for it.
  
  Do none of you people have even the smallest understanding of the economy? You are saying stick it to the Wall Street fat cats. Do you not understand that regular investors in these companies have now lost hundreds of billions of dollars and that when the market dropped on Monday that regular investors lost a TRILLION dollars. Do you understand that there are not even a hundred of these CEO's that you are saying wreck the entire economy to punish them. How completely dense can you be?
  
  Have you not seen that people can't get credit to buy cars or houses, and that businesses can't get credit to buy equipment, build or expand? How do you think or economy functions?
  
  I have to believe that the majority of comments on here are people who are either a) completely ignorant, or b) have never paid much in taxes in their entire life. So stop saying that you are the ones bailing out Wall Street. We don't even know how much this is going to cost, with the possibility that the loan actually makes money for the government.
  
  Ask yourself what you would do if this wasn't passed. Your bank would close, you wouldn't be able to buy a car or a house, and you wouldn't be able to sell your car or your house, because noone would be able to buy it. Oh yeah, I forgot we should all pay cash for our houses and cars.
  - Posted By: BrotherLou @ 10/02/2008 1:54:53 AM
    
    Comment: I keep trying but I am faced with the fact that some posters are just venting, Some are just dumb. Some are not all that scared of tough times, having faith in their ability to survive.
    
    It's the old story of three men faced by a menacing bear. One guy pretends that he's dead, the other guy tells the other he doesn't see anything to worry about. "Why aren't you scared, you idiot, that is one mean grizzly bear there, and he's about to charge?"
    
    "I'm not scared," his friend replied, "because I know that I can run faster than you!"
    
    Some people believe that if they play dead, do nothing, then they can ride out the storm. Others, believe that they have the skill and savvy to do better than everybody else. These people are sociopathic in the sense that they have no real concern for their weaker neighbors, like the guy in the story. The ones who support the bill as a last resort, and as better than doing nothing are the ones with a sense of responsibility and reason.
    - Posted By: olderwiser @ 10/02/2008 9:15:18 AM
      
      Comment: Well, let's see now. Toolkit says that we are dumb and BrotherLou says that we don't understand. I gather from that that they are smart and that they understand. Best of all, BrotherLou gives the supporters of the bailout credit for a "sense of responsibility and understanding". I want to sell them a Tuxedo Rental store in the middle of this devastated economy. There are some nice bridges that I am selling, too. If they would buy those, too, then they could charge a toll to those who cross the bridges to get to the celebration parties after we pass the bailout. You are very smart and understanding and we are grateful that you have joined in to elevate the quality of this blog.
Posted By: unrepentant @ 10/01/2008 7:25:19 PM

Comment: Someone who doesn't understand Emergency Economic Stabilization Act of 2008 said, "giving a $700 billion loan guarantee to the very insitutions that have already failed us. "

Have you not even read the story about which you are commenting? What does it take to get people to listen and understand. This is not a giveaway to anybody! This is the government buying up bonds that have value. The Fed can hold on to the bonds to maturity or they can try to unwind them and negotiate with the homeowner for a more reasonable loan. They can sell the bonds. Read the article! This is all about TRANSPARENCY. That means that every thing the FED does is in plain sight. Once the FED starts to buy these loans it established a value for them. At this point other investors will come in and buy the bonds or the loans. This is about establishing value and unwinding these bonds so that investors can understand what they are worth. This is not that complicated. If you don't get it at first READ THE ARTICLE AGAIN! It is not a boondoggle, obviously, it is a necessary investment in our real estate and financial institutions with the very real possiblility that the FED will make money on the deal.
- Posted By: MisterMR @ 10/02/2008 11:39:46 AM
  
  Comment: "At this point other investors will come in and buy the bonds or the loans."
  This is what the FED hopes. On the other hand, in nobody comes in, the FED has either to buy everything or to pay less, thus lowering the value of what it bought before.
Posted By: Iconoblaster @ 10/01/2008 6:49:17 PM

Comment: Congress still hasn't given up on Bush's bailout boondoggle. I get the impression that Congress isn't LISTENING to the American people...who have been pretty up front and vocal saying "Don't bail out the bankers". Yes, hard times are probably ahead, but I do not believe they will be prevented by giving a $700 billion loan guarantee to the very insitutions that have already failed us.

STOP THE BAILOUT BOONDOGGLE!!
Posted By: Omnius @ 10/01/2008 6:33:33 PM

Comment: I am so enjoying watching the nefarious Voo Doo economics of "Alzheimer" Reagan blow up in "Herbert Hoover" Bush's face. I am so glad that finally all that infernal borrowing from the future nonsense is getting it's comeuppance. Ever since the clueless old tinseltown fraud started the credit explosion by showing Americans how to borrow without a thought of ever paying it back with his massive deficit financed tax cuts for the rich and greedy we have been headed for this unfortunate moment. I am so gratified that the current dodo bird in the White House had his comeuppance now that his massive deficit financed tax cuts for the rich and greedy have nearly wrecked our economy.

Americans used to be known for their thrift, for their smart savings. Now we're known as spendthrifts for our need for instant gratification and constant overuse of credit cards, and laughed at by the rest of the world. It's about time to rein in the stupid overuse of credit and start being smarter with our money. We need to get over instant gratification with credit cards and start being more cash based consumers. Yeah it's going to shrink the retail sales and sales of other stuff but once the dust settles and we get out from under the massive debt burden we'll see much stronger economic growth with far less potential for these kinds of debt crises. Wall Street also has to give up it's abuse of too much credit and junk bond mentality. Our government needs to stop deficit financing and start a program to pay off our national debt in 20-25 years.

I have a house that's all paid off and I have no credit cards and no debt whatsoever. I live on a cash basis and I have what I need when I need it. I got over the debt nonsense and my life is better for it as I have not stolen from my future and I will be able to leave my Daughter and Granddaughters a nice tidy inheritance. No bank will steal my Daughter's inheritance through reverse mortgage lending. Thrift is the good life!
- Posted By: toolkit @ 10/01/2008 11:41:47 PM
  
  Comment: Oh Omnius you are so wise. I agree we should go back to the glory days of Carter with 18% interest, 10% unemployment and double digit inflation. Omnius you really should teach economics classes on how paying for everything with cash would keep us the largest economy, by far, in the entire world, and has increased national wealth from $14 trillion dollars to $50 trillion dollars in 20 years.
  
  The moderators should make posters pass a stupidity test before the post, as most of you would fail. The creation of the problem was not with Wall Street, it was with a government program that forced lenders to lend to people who were incapable of repaying the loans. It was with people who borrowed against homes they couldn't afford. It was much later that Wall Street screwed up with their highly leveraged CDO's and CDS's. Wall Street has been punished with the elimination of most of the biggest institutions and an almost complete wipe out of shareholders wealth. There are only a handful of these crooked, fat cat CEO's and they should be investigated. But please stop the stupidity of saying, "Hey let's wreck the global economy because I can't affot new blinds for my double-wide while those fat cats got rich."
  
  The program is a necessity unless you want another severe worldwide Depression.
  - Posted By: helgerry @ 10/02/2008 8:56:04 AM
    
    Comment: Oh, you're so full of it Mr. Toolkit! Talking like you know better than all the economists and market analysts (american and foreign) who all agree that what really started this whole mess was the repeal of the Glass/Steagall Act which barred commercial banks from being "engaged principally" in securities business. And of course the Wall Street lobbyists had a lot to do with it... You're so adamant in your defense of the Wall Street boys: you're probably one of them or you're fu**king one...
  - Posted By: underdog @ 10/02/2008 12:00:37 AM
    
    Comment: Toolkit . I also belive we need the bailout, but we don't need to add another 100 + billion of pork to it. The average guy is ready to explode on the bailout, then the idiots in the senate start adding on pet projects. Talk about poor judgement, or no judgement at all.
    
    The average guy who thinks paying everything with cash is a fool. Even some businesses realize it is better to borrow short term, keep your own money available, and repay short term.
Posted By: indi1216 @ 10/01/2008 6:10:59 PM

Comment: Please see this link

http://www.youtube.com/watch?v=PdJUCU1UH2w

DO YOU STILL WANT TO VOTE FOR HIM?
Posted By: debradebra @ 10/01/2008 6:07:48 PM

Comment: Mr Bush is a complete loser who has driven our country into the ground. We are bankrupt and the world looks at us so differently as they have in the past.

I only hope that Mr. Bush is prosecuted for some if not all of the horrors that he planted upon our beautiful country.
Posted By: olderwiser @ 10/01/2008 6:04:31 PM

Comment: She can be our queen. "Let them eat snow!"
Posted By: olderwiser @ 10/01/2008 6:03:39 PM

Comment: "Maximum transparency??" We are still dumb. After all of this education, we are still dumb. Let's vote for the dumb lady. What the hell!
Posted By: olderwiser @ 10/01/2008 6:01:31 PM

Comment: We are varlets, vassals and peasants. We live in the countryside, outside of the castle walls. The Idiot Prince has gambled away his heritage, declaring careless wars with distant principalities, and courting favor with the money lenders at the games of chance where he has lost his ducats and has issued so many I.O.U.'s that they will no longer extend him credit for his next big hand. He rides out into the countryside and shouts at us as we labor in his fields trying to provide him enough taxes to play at the tables. He shouts at us, "save me, save me, lend me your credit and the credit of your children and their children, so that I can keep you safe. I will let you see the books this time and you will know that I am honest. I am not a crook.! I am not a crook! I am not a crook!".
Posted By: olderwiser @ 10/01/2008 5:54:43 PM

Comment: "Maximum Transparency". We are in the bullfight ring. It is Sunday. The big bullfight of the day. We are the bull. George W. Bush is the Matador. We are rushing toward the cape held by the matador, mad as hell. He says, "hah!, toro, the cape is transparent!", Ha,.....ha....ha!" We hope to Gore him. He hopes that we are Gore, and that it is the year 2000. If the cape is really transparent, then we can gore him. If it is not, then we will get the sword, right through the heart. Transparency in government is very rare. You can seldom see through the cape. Our horns are seldom useful. The only bull with useful horns has usually been the bronze bull in front of Wall Street. It has bronze balls. We will likely buy it a bronze cow to screw. It is a "bull out", most likely, pronounced "bailout".
Posted By: olderwiser @ 10/01/2008 5:42:17 PM

Comment: A spoonful of sugar makes the medicine go down.
Posted By: dandywh @ 10/01/2008 5:24:23 PM

Comment: It sickens me that no other plan has been considered and Bush gets the last laugh ! protect the rich at all costs
Posted By: robrown1 @ 10/01/2008 3:30:53 PM

Comment: Go to UNIFIEDMARKETS for true price discovery for all types of assets.

Top Story

Latest News

Hedge Fund Nation

Discuss

Posted By: cani77 @ 10/03/2008 10:08:47 PM

Posted By: Krohn @ 10/03/2008 7:53:24 AM

Posted By: cani77 @ 10/02/2008 11:33:41 PM

Posted By: olderwiser @ 10/02/2008 2:02:07 PM

Posted By: OLDFOOL @ 10/02/2008 12:58:56 PM

Posted By: olderwiser @ 10/02/2008 9:47:11 AM

Posted By: jarcher1 @ 10/04/2008 7:59:53 AM

Posted By: olderwiser @ 10/02/2008 9:32:29 AM

Posted By: vippy @ 10/02/2008 8:18:37 AM

Posted By: TruthForward @ 10/02/2008 7:11:17 AM

Posted By: phiomalibumalibu @ 10/02/2008 3:06:33 AM

Posted By: BrotherLou @ 10/02/2008 1:37:57 AM

Posted By: underdog @ 10/02/2008 12:38:38 AM

Posted By: clikdawg @ 10/02/2008 12:54:40 AM

Posted By: clikdawg @ 10/02/2008 12:31:08 AM

Posted By: underdog @ 10/01/2008 11:15:51 PM

Posted By: clikdawg @ 10/01/2008 11:14:51 PM

Posted By: pjam @ 10/01/2008 10:51:28 PM

Posted By: pjam @ 10/01/2008 10:51:05 PM

Posted By: Braes @ 10/01/2008 9:47:06 PM

Posted By: Krohn @ 10/01/2008 9:09:26 PM

Posted By: clikdawg @ 10/01/2008 7:48:21 PM

Posted By: olderwiser @ 10/01/2008 7:47:53 PM

Posted By: olderwiser @ 10/01/2008 7:44:50 PM

Posted By: olderwiser @ 10/01/2008 7:41:23 PM

Posted By: toolkit @ 10/01/2008 11:31:17 PM

Posted By: BrotherLou @ 10/02/2008 1:54:53 AM

Posted By: olderwiser @ 10/02/2008 9:15:18 AM

Posted By: unrepentant @ 10/01/2008 7:25:19 PM

Posted By: MisterMR @ 10/02/2008 11:39:46 AM

Posted By: Iconoblaster @ 10/01/2008 6:49:17 PM

Posted By: Omnius @ 10/01/2008 6:33:33 PM

Posted By: toolkit @ 10/01/2008 11:41:47 PM

Posted By: helgerry @ 10/02/2008 8:56:04 AM

Posted By: underdog @ 10/02/2008 12:00:37 AM

Posted By: indi1216 @ 10/01/2008 6:10:59 PM

Posted By: debradebra @ 10/01/2008 6:07:48 PM

Posted By: olderwiser @ 10/01/2008 6:04:31 PM

Posted By: olderwiser @ 10/01/2008 6:03:39 PM

Posted By: olderwiser @ 10/01/2008 6:01:31 PM

Posted By: olderwiser @ 10/01/2008 5:54:43 PM

Posted By: olderwiser @ 10/01/2008 5:42:17 PM

Posted By: dandywh @ 10/01/2008 5:24:23 PM

Posted By: robrown1 @ 10/01/2008 3:30:53 PM

Reply

Report Abuse

STRATEGIES

The Paper Chasers

NATIONAL SECURITY

The General's Marching Orders

Subscribe Now

Partners