Tucker, man. I don’t know what to tell you. I’m sorry if I come out across purposes. I dropped the pretense of being polite about a year ago. This financial mess is just infuriating, and it has already directly affected my business, and in turn my family. Almost all of us are going to be affected negatively in various ways. So I’m angry. Santelli is angry. Lots of us are angry. There are an amazing number of people who are angry about Obama. It’s all counter-productive, I admit.
And I do appreciate the comments about humor. I really should try to laugh about all this a bit more…
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rnen, yeah, I actually don’t think the plan has much to do with the typical ‘hard-pressed homeowner’, underneath. Sure that’s the focus from outside-in. But it seems to me to be more about stemming the tide of increasing foreclosures, and slowing the downward spiral of home prices, both of which are intrinsically linked as you know — and the precipitous drop in the value of underlying assets is just ‘killing’ our financial system.
These guys on trading floors though — what a piece of work. And there’s a whole caste of people like this who got rich quick in financial markets rules be damned, caution be damned, risk be damned, and they’ve put their respective BANKS in deep, deep, deep water. And I’ll remind everybody, BANKS are not just normal companies, THEY GET TO HOLD OUR MONEY. If they go out of business, the take OUR MONEY with them.
The only peaceful, non-mass-chaos way out of this mess, from what I can tell, is (1) stabilization, then (2) debasement of the currency to devalue untenable debt and bring the economy back into balance. The dollar will suffer, and America will suffer relative to the rest of the world.
