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March 24, 2008 at 6:53 PM in reply to: What is patriotism? (An email I wrote in response to a swipe from a friends relative) #176121March 24, 2008 at 6:53 PM in reply to: What is patriotism? (An email I wrote in response to a swipe from a friends relative) #176124
barnaby33Participantcooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
March 24, 2008 at 6:53 PM in reply to: What is patriotism? (An email I wrote in response to a swipe from a friends relative) #176216barnaby33Participantcooperthedog, the point is it wasn’t necessary. As for the BSC bailout, I think it was a necessary evil. Credit markets seizing up, banks failing, etc. can cause untold damage to all. Credit markets are seizing up anyway.
Socializing the losses is how our market works, or doesn’t. Actually its a large part of why it doesn’t. Acting like a bailout for any firm is necessary is just encouraging more of the same destructive behavior. It isn’t necessary, and yes the damage will be done anyway. Actually the damage was done when the credit was created. All the Fed is doing is re-distributing the pain to all of us instead of concentrating it on Wall St.
In this case patriotism is saying as loudly as you can, fuck this, its theft plain and simple.
Oh and JWM I don’t always agree with Karl either.
barnaby33ParticipantThat was a truly fascinating read thank you. As Calculated Risk says, “we’re all sub-prime now.”
Josh
barnaby33ParticipantThat was a truly fascinating read thank you. As Calculated Risk says, “we’re all sub-prime now.”
Josh
barnaby33ParticipantThat was a truly fascinating read thank you. As Calculated Risk says, “we’re all sub-prime now.”
Josh
barnaby33ParticipantThat was a truly fascinating read thank you. As Calculated Risk says, “we’re all sub-prime now.”
Josh
barnaby33ParticipantThat was a truly fascinating read thank you. As Calculated Risk says, “we’re all sub-prime now.”
Josh
barnaby33ParticipantToday was a good day to load up on XLF and home builder puts. I sure did.
Josh
barnaby33ParticipantToday was a good day to load up on XLF and home builder puts. I sure did.
Josh
barnaby33ParticipantToday was a good day to load up on XLF and home builder puts. I sure did.
Josh
barnaby33ParticipantToday was a good day to load up on XLF and home builder puts. I sure did.
Josh
barnaby33ParticipantToday was a good day to load up on XLF and home builder puts. I sure did.
Josh
barnaby33ParticipantIts got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.
Do you rent a 1 or 2 bdrm, what do you pay?
Josh
barnaby33ParticipantIts got a lot going against it. Its on a busy street corner, lots of noise. It was built and sold at the height of the boom in 04. Its ugly, and the corridors are fairly dimly lit. The Cairo next door seems like a better building, though I have not been inside any of those units.
Do you rent a 1 or 2 bdrm, what do you pay?
Josh
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