TARP has lost 40% since inception

[DWCAP]

Dave, I belive your point is more, “well what would you do?”. It is easy to throw stones at those who try to solve messy problems, it is much harder to solve messy problems.

It is like the whole problem with the prison system. We know it isnt fair to everyone, we know it doesnt really work (what is it 3/4 go back within 5 years?? soomething like that) and plenty of people have been sent to prison for crimes they didnt commit. And yet we keep sending people to prision in record numbers for longer periods of time, cause we dont know what else to do.
‘What do you do with a violent person who has no wish nor ability to self regulate?’
In college I knew alot of people who RAILED against the system, and yet couldnt come up with anything better when questoned.

I think your challenge is something along these lines. What would you do that is so much better?

Am I right?

[davelj]

[quote=DWCAP]

I think your challenge is something along these lines. What would you do that is so much better?

Am I right?

[/quote]

Yes. And the answer’s not, “nothing.” Because “nothing” has consequences that no one here wants to live with.

[davelj]

[quote=DWCAP]

I think your challenge is something along these lines. What would you do that is so much better?

Am I right?

[/quote]

Yes. And the answer’s not, “nothing.” Because “nothing” has consequences that no one here wants to live with.

[davelj]

[quote=DWCAP]

I think your challenge is something along these lines. What would you do that is so much better?

Am I right?

[/quote]

Yes. And the answer’s not, “nothing.” Because “nothing” has consequences that no one here wants to live with.

[davelj]

[quote=DWCAP]

I think your challenge is something along these lines. What would you do that is so much better?

Am I right?

[/quote]

Yes. And the answer’s not, “nothing.” Because “nothing” has consequences that no one here wants to live with.

[davelj]

[quote=DWCAP]

I think your challenge is something along these lines. What would you do that is so much better?

Am I right?

[/quote]

Yes. And the answer’s not, “nothing.” Because “nothing” has consequences that no one here wants to live with.

[davelj]

On a side note – and I can’t believe I’m typing this – I’m actually somewhat optimistic regarding Bernanke’s handling of his end of things.

Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.

But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.

Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.

[davelj]

On a side note – and I can’t believe I’m typing this – I’m actually somewhat optimistic regarding Bernanke’s handling of his end of things.

Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.

But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.

Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.

[davelj]

On a side note – and I can’t believe I’m typing this – I’m actually somewhat optimistic regarding Bernanke’s handling of his end of things.

Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.

But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.

Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.

[davelj]

On a side note – and I can’t believe I’m typing this – I’m actually somewhat optimistic regarding Bernanke’s handling of his end of things.

Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.

But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.

Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.

[davelj]

On a side note – and I can’t believe I’m typing this – I’m actually somewhat optimistic regarding Bernanke’s handling of his end of things.

Yeah, he totally missed the housing bubble. (Doh!!) Yeah, he was a part of Greespan’s Fed that lowered rates too much and did various and sundry other damage. (Double Doh!!) In other words, this guy’s stock is in the shitter, big time. I don’t think he can look any more the Economist Assclown.

But… I think I understand a little bit about this guy’s personality. He was always Mr. Smartypants. Always had the answers. Worked his ass off. Didn’t make a lot of money, but took his payment in psychic income: respect. Now he realizes he was part of a Major Fuck Up. And there’s nowhere to hide. So, what’s he going to do? He’s going to work his ass off to rebuild his reputation – 10x harder than he’s ever worked before. And in a bizarre way, despite the fact that he was part of the Problem(s), I want a guy at the helm who’s been taken down a few notches and has something to prove. Whose only currency his whole life has been respect, and now it’s swirling down the toilet. This guy is gonna fight. We may question some of the unorthodox ideas he comes up with, but at the end of the day I bet he does more good than harm going forward. It’s a pure contrary opinion.

Everybody hates Bernanke and thinks he’s an idiot. (When he was named Fed Chairman I said, “Oh shit. THAT guy? Gimme a break!”) I’ve gotta take the other side of that trade at this point. Geitner… eh… not so much. That may be inconsistent, but something about Geitner unnerves me. I can’t explain it.

[LuckyInOC]

I sure does look like this is happening by Irving Fisher’s debt-deflation theory numbers:

1. Debt liquidation and distress selling
2. Contraction of the money supply as bank loans are paid off
3. A fall in the level of asset prices
4. A still greater fall in the net worths of business, precipitating bankruptcies
5. A fall in profits
6. A reduction in output, in trade and in employment.
7. Pessimism and loss of confidence
8. Hoarding of money
9. A fall in nominal interest rates and a rise in deflation adjusted interest rates.

So…

are we at #4
– or –
are at #6 and moving to #7 about now.

Though they seldom invoke Fisher, policymakers in America are applying his ideas. In academia Ben Bernanke, now the chairman of the Federal Reserve, sought to formalise Fisher’s debt-deflation theory.

http://www.economist.com/finance/displaystory.cfm?story_id=13104022

LuckyInOC

[LuckyInOC]

I sure does look like this is happening by Irving Fisher’s debt-deflation theory numbers:

1. Debt liquidation and distress selling
2. Contraction of the money supply as bank loans are paid off
3. A fall in the level of asset prices
4. A still greater fall in the net worths of business, precipitating bankruptcies
5. A fall in profits
6. A reduction in output, in trade and in employment.
7. Pessimism and loss of confidence
8. Hoarding of money
9. A fall in nominal interest rates and a rise in deflation adjusted interest rates.

So…

are we at #4
– or –
are at #6 and moving to #7 about now.

Though they seldom invoke Fisher, policymakers in America are applying his ideas. In academia Ben Bernanke, now the chairman of the Federal Reserve, sought to formalise Fisher’s debt-deflation theory.

http://www.economist.com/finance/displaystory.cfm?story_id=13104022

LuckyInOC

[LuckyInOC]

I sure does look like this is happening by Irving Fisher’s debt-deflation theory numbers:

1. Debt liquidation and distress selling
2. Contraction of the money supply as bank loans are paid off
3. A fall in the level of asset prices
4. A still greater fall in the net worths of business, precipitating bankruptcies
5. A fall in profits
6. A reduction in output, in trade and in employment.
7. Pessimism and loss of confidence
8. Hoarding of money
9. A fall in nominal interest rates and a rise in deflation adjusted interest rates.

So…

are we at #4
– or –
are at #6 and moving to #7 about now.

Though they seldom invoke Fisher, policymakers in America are applying his ideas. In academia Ben Bernanke, now the chairman of the Federal Reserve, sought to formalise Fisher’s debt-deflation theory.

http://www.economist.com/finance/displaystory.cfm?story_id=13104022

LuckyInOC

[LuckyInOC]

I sure does look like this is happening by Irving Fisher’s debt-deflation theory numbers:

1. Debt liquidation and distress selling
2. Contraction of the money supply as bank loans are paid off
3. A fall in the level of asset prices
4. A still greater fall in the net worths of business, precipitating bankruptcies
5. A fall in profits
6. A reduction in output, in trade and in employment.
7. Pessimism and loss of confidence
8. Hoarding of money
9. A fall in nominal interest rates and a rise in deflation adjusted interest rates.

So…

are we at #4
– or –
are at #6 and moving to #7 about now.

Though they seldom invoke Fisher, policymakers in America are applying his ideas. In academia Ben Bernanke, now the chairman of the Federal Reserve, sought to formalise Fisher’s debt-deflation theory.

http://www.economist.com/finance/displaystory.cfm?story_id=13104022

LuckyInOC

[Author]

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