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  • February 21, 2009 at 10:00 AM #351757
    gandalf
    Participant

    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…

    * * *

    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.

    February 21, 2009 at 10:10 AM #351196
    gandalf
    Participant

    One more thing, which is that while the MESS may have started with subprime mortgages, it didn’t END there. It has been leveraged tenfold into all kinds of bullshit exotic financial engineering products, CDS, hedge, derivitives, etc., etc. that are simply completely untenable in a down economy with depreciating assets. The house that leverage built is imploding. The financial/banking industry is principally to blame for the degree of leverage in all this.

    It’s quite possible Citi and BofA go into some form of receivership (nationalization) in the upcoming weeks because they are very close to insolvent. If we didn’t have a bailout, and these giant banks go under, they would take an enormous number of average, upstanding, everyday business and poeple with them because these BANKS GOT TO HOLD ALL OF OUR MONEY and they LOST IT. They would go under and take us with them. That is the BIG ISSUE, and that is why there is a bailout.

    Where exactly is the OUTRAGE about MORAL HAZARD in the financial industry? What exactly should Santelli say at that point? “Why can’t Citi and BofA can’t just pay their bills, like the rest of us upstanding homeowners?” Screw this Santelli guy. I have zero tolerance for some jackass trading floor reporter becoming an Internet sensation blasting homeowners when the FINANCIAL INDUSTRY is the ABSOLUTE EPICENTER of this mess.

    Wish I could think of a joke here. Someone help me out…

    February 21, 2009 at 10:10 AM #351508
    gandalf
    Participant

    One more thing, which is that while the MESS may have started with subprime mortgages, it didn’t END there. It has been leveraged tenfold into all kinds of bullshit exotic financial engineering products, CDS, hedge, derivitives, etc., etc. that are simply completely untenable in a down economy with depreciating assets. The house that leverage built is imploding. The financial/banking industry is principally to blame for the degree of leverage in all this.

    It’s quite possible Citi and BofA go into some form of receivership (nationalization) in the upcoming weeks because they are very close to insolvent. If we didn’t have a bailout, and these giant banks go under, they would take an enormous number of average, upstanding, everyday business and poeple with them because these BANKS GOT TO HOLD ALL OF OUR MONEY and they LOST IT. They would go under and take us with them. That is the BIG ISSUE, and that is why there is a bailout.

    Where exactly is the OUTRAGE about MORAL HAZARD in the financial industry? What exactly should Santelli say at that point? “Why can’t Citi and BofA can’t just pay their bills, like the rest of us upstanding homeowners?” Screw this Santelli guy. I have zero tolerance for some jackass trading floor reporter becoming an Internet sensation blasting homeowners when the FINANCIAL INDUSTRY is the ABSOLUTE EPICENTER of this mess.

    Wish I could think of a joke here. Someone help me out…

    February 21, 2009 at 10:10 AM #351635
    gandalf
    Participant

    One more thing, which is that while the MESS may have started with subprime mortgages, it didn’t END there. It has been leveraged tenfold into all kinds of bullshit exotic financial engineering products, CDS, hedge, derivitives, etc., etc. that are simply completely untenable in a down economy with depreciating assets. The house that leverage built is imploding. The financial/banking industry is principally to blame for the degree of leverage in all this.

    It’s quite possible Citi and BofA go into some form of receivership (nationalization) in the upcoming weeks because they are very close to insolvent. If we didn’t have a bailout, and these giant banks go under, they would take an enormous number of average, upstanding, everyday business and poeple with them because these BANKS GOT TO HOLD ALL OF OUR MONEY and they LOST IT. They would go under and take us with them. That is the BIG ISSUE, and that is why there is a bailout.

    Where exactly is the OUTRAGE about MORAL HAZARD in the financial industry? What exactly should Santelli say at that point? “Why can’t Citi and BofA can’t just pay their bills, like the rest of us upstanding homeowners?” Screw this Santelli guy. I have zero tolerance for some jackass trading floor reporter becoming an Internet sensation blasting homeowners when the FINANCIAL INDUSTRY is the ABSOLUTE EPICENTER of this mess.

    Wish I could think of a joke here. Someone help me out…

    February 21, 2009 at 10:10 AM #351668
    gandalf
    Participant

    One more thing, which is that while the MESS may have started with subprime mortgages, it didn’t END there. It has been leveraged tenfold into all kinds of bullshit exotic financial engineering products, CDS, hedge, derivitives, etc., etc. that are simply completely untenable in a down economy with depreciating assets. The house that leverage built is imploding. The financial/banking industry is principally to blame for the degree of leverage in all this.

    It’s quite possible Citi and BofA go into some form of receivership (nationalization) in the upcoming weeks because they are very close to insolvent. If we didn’t have a bailout, and these giant banks go under, they would take an enormous number of average, upstanding, everyday business and poeple with them because these BANKS GOT TO HOLD ALL OF OUR MONEY and they LOST IT. They would go under and take us with them. That is the BIG ISSUE, and that is why there is a bailout.

    Where exactly is the OUTRAGE about MORAL HAZARD in the financial industry? What exactly should Santelli say at that point? “Why can’t Citi and BofA can’t just pay their bills, like the rest of us upstanding homeowners?” Screw this Santelli guy. I have zero tolerance for some jackass trading floor reporter becoming an Internet sensation blasting homeowners when the FINANCIAL INDUSTRY is the ABSOLUTE EPICENTER of this mess.

    Wish I could think of a joke here. Someone help me out…

    February 21, 2009 at 10:10 AM #351768
    gandalf
    Participant

    One more thing, which is that while the MESS may have started with subprime mortgages, it didn’t END there. It has been leveraged tenfold into all kinds of bullshit exotic financial engineering products, CDS, hedge, derivitives, etc., etc. that are simply completely untenable in a down economy with depreciating assets. The house that leverage built is imploding. The financial/banking industry is principally to blame for the degree of leverage in all this.

    It’s quite possible Citi and BofA go into some form of receivership (nationalization) in the upcoming weeks because they are very close to insolvent. If we didn’t have a bailout, and these giant banks go under, they would take an enormous number of average, upstanding, everyday business and poeple with them because these BANKS GOT TO HOLD ALL OF OUR MONEY and they LOST IT. They would go under and take us with them. That is the BIG ISSUE, and that is why there is a bailout.

    Where exactly is the OUTRAGE about MORAL HAZARD in the financial industry? What exactly should Santelli say at that point? “Why can’t Citi and BofA can’t just pay their bills, like the rest of us upstanding homeowners?” Screw this Santelli guy. I have zero tolerance for some jackass trading floor reporter becoming an Internet sensation blasting homeowners when the FINANCIAL INDUSTRY is the ABSOLUTE EPICENTER of this mess.

    Wish I could think of a joke here. Someone help me out…

    February 21, 2009 at 10:36 AM #351216
    NotCranky
    Participant

    Gandalf,
    It was all staged.. what Santelli did. That’s the joke. The guys on the floor were all prepped. It was obvious. The media as tool against Americans again. My guess is that it is intended to create good neighbor guy/bad neighbor guy diversion in the public. Baffle ’em with bullshit. Redirect any potential focus to the fleecing for the sake of the Financial Industry and pit us against one another once again. It’s Machavellian.That way whe the little guy gets shafted again we won’t notice because we were too focused on our upside down neighbor who in the end really doesn’t get much of value either.These people are trying to clown us. I started looking at it this way about 15 years ago. All of them, both parties are trying to clown us. See it, don’t be a victim and don’t hate the dolts who don’t see it, even if they are going to get a little loan mod or some other such handout of very little value.

    The following is not directed at anyone in particular just food for thought.
    Quit crying and figure out how to improve your life within the realities of the surrounding circus.There are not enough people who really want to do something about it to make a difference otherwise.

    February 21, 2009 at 10:36 AM #351528
    NotCranky
    Participant

    Gandalf,
    It was all staged.. what Santelli did. That’s the joke. The guys on the floor were all prepped. It was obvious. The media as tool against Americans again. My guess is that it is intended to create good neighbor guy/bad neighbor guy diversion in the public. Baffle ’em with bullshit. Redirect any potential focus to the fleecing for the sake of the Financial Industry and pit us against one another once again. It’s Machavellian.That way whe the little guy gets shafted again we won’t notice because we were too focused on our upside down neighbor who in the end really doesn’t get much of value either.These people are trying to clown us. I started looking at it this way about 15 years ago. All of them, both parties are trying to clown us. See it, don’t be a victim and don’t hate the dolts who don’t see it, even if they are going to get a little loan mod or some other such handout of very little value.

    The following is not directed at anyone in particular just food for thought.
    Quit crying and figure out how to improve your life within the realities of the surrounding circus.There are not enough people who really want to do something about it to make a difference otherwise.

    February 21, 2009 at 10:36 AM #351655
    NotCranky
    Participant

    Gandalf,
    It was all staged.. what Santelli did. That’s the joke. The guys on the floor were all prepped. It was obvious. The media as tool against Americans again. My guess is that it is intended to create good neighbor guy/bad neighbor guy diversion in the public. Baffle ’em with bullshit. Redirect any potential focus to the fleecing for the sake of the Financial Industry and pit us against one another once again. It’s Machavellian.That way whe the little guy gets shafted again we won’t notice because we were too focused on our upside down neighbor who in the end really doesn’t get much of value either.These people are trying to clown us. I started looking at it this way about 15 years ago. All of them, both parties are trying to clown us. See it, don’t be a victim and don’t hate the dolts who don’t see it, even if they are going to get a little loan mod or some other such handout of very little value.

    The following is not directed at anyone in particular just food for thought.
    Quit crying and figure out how to improve your life within the realities of the surrounding circus.There are not enough people who really want to do something about it to make a difference otherwise.

    February 21, 2009 at 10:36 AM #351688
    NotCranky
    Participant

    Gandalf,
    It was all staged.. what Santelli did. That’s the joke. The guys on the floor were all prepped. It was obvious. The media as tool against Americans again. My guess is that it is intended to create good neighbor guy/bad neighbor guy diversion in the public. Baffle ’em with bullshit. Redirect any potential focus to the fleecing for the sake of the Financial Industry and pit us against one another once again. It’s Machavellian.That way whe the little guy gets shafted again we won’t notice because we were too focused on our upside down neighbor who in the end really doesn’t get much of value either.These people are trying to clown us. I started looking at it this way about 15 years ago. All of them, both parties are trying to clown us. See it, don’t be a victim and don’t hate the dolts who don’t see it, even if they are going to get a little loan mod or some other such handout of very little value.

    The following is not directed at anyone in particular just food for thought.
    Quit crying and figure out how to improve your life within the realities of the surrounding circus.There are not enough people who really want to do something about it to make a difference otherwise.

    February 21, 2009 at 10:36 AM #351788
    NotCranky
    Participant

    Gandalf,
    It was all staged.. what Santelli did. That’s the joke. The guys on the floor were all prepped. It was obvious. The media as tool against Americans again. My guess is that it is intended to create good neighbor guy/bad neighbor guy diversion in the public. Baffle ’em with bullshit. Redirect any potential focus to the fleecing for the sake of the Financial Industry and pit us against one another once again. It’s Machavellian.That way whe the little guy gets shafted again we won’t notice because we were too focused on our upside down neighbor who in the end really doesn’t get much of value either.These people are trying to clown us. I started looking at it this way about 15 years ago. All of them, both parties are trying to clown us. See it, don’t be a victim and don’t hate the dolts who don’t see it, even if they are going to get a little loan mod or some other such handout of very little value.

    The following is not directed at anyone in particular just food for thought.
    Quit crying and figure out how to improve your life within the realities of the surrounding circus.There are not enough people who really want to do something about it to make a difference otherwise.

    February 21, 2009 at 11:15 AM #351246
    gandalf
    Participant

    Nice, Rus. There’s something very ‘Zen’ in all of that…

    Enjoy your day.

    February 21, 2009 at 11:15 AM #351558
    gandalf
    Participant

    Nice, Rus. There’s something very ‘Zen’ in all of that…

    Enjoy your day.

    February 21, 2009 at 11:15 AM #351685
    gandalf
    Participant

    Nice, Rus. There’s something very ‘Zen’ in all of that…

    Enjoy your day.

    February 21, 2009 at 11:15 AM #351719
    gandalf
    Participant

    Nice, Rus. There’s something very ‘Zen’ in all of that…

    Enjoy your day.

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