[gandalf]

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…

[gandalf]

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…

[gandalf]

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…

[gandalf]

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…

[gandalf]

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…

[gandalf]

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.

[gandalf]

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.

[gandalf]

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.

[gandalf]

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.

[gandalf]

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.

[gandalf]

This Santelli guy is NOT a hero, you moron. Upwards of $3 TRILLION is going to be spent on bailing out the FINANCIAL INDUSTRY. And you’re upset about MORAL HAZARD? No irony there. NONE WHATSOEVER.

You want to get upset about something? Direct your ire at the trading floors, financial institutions and investment banks, managing directors and executives, financial promoters, washington lobbyists and deregulating politicians who are principally responsible creating this DISASTER. They are culpable to a degree that FAR EXCEEDS the average foreclosure case.

Do I approve of bailing out non-payers? No. But most of us see some pragmatic value in attempting to mitigate foreclosure activity, attempt to stem the bleeding. Santelli the “Trading Floor Dick” is part of the crowd that created this mess. Don’t be a fool. What a ridiculous post.

[gandalf]

This Santelli guy is NOT a hero, you moron. Upwards of $3 TRILLION is going to be spent on bailing out the FINANCIAL INDUSTRY. And you’re upset about MORAL HAZARD? No irony there. NONE WHATSOEVER.

You want to get upset about something? Direct your ire at the trading floors, financial institutions and investment banks, managing directors and executives, financial promoters, washington lobbyists and deregulating politicians who are principally responsible creating this DISASTER. They are culpable to a degree that FAR EXCEEDS the average foreclosure case.

Do I approve of bailing out non-payers? No. But most of us see some pragmatic value in attempting to mitigate foreclosure activity, attempt to stem the bleeding. Santelli the “Trading Floor Dick” is part of the crowd that created this mess. Don’t be a fool. What a ridiculous post.

[gandalf]

This Santelli guy is NOT a hero, you moron. Upwards of $3 TRILLION is going to be spent on bailing out the FINANCIAL INDUSTRY. And you’re upset about MORAL HAZARD? No irony there. NONE WHATSOEVER.

You want to get upset about something? Direct your ire at the trading floors, financial institutions and investment banks, managing directors and executives, financial promoters, washington lobbyists and deregulating politicians who are principally responsible creating this DISASTER. They are culpable to a degree that FAR EXCEEDS the average foreclosure case.

Do I approve of bailing out non-payers? No. But most of us see some pragmatic value in attempting to mitigate foreclosure activity, attempt to stem the bleeding. Santelli the “Trading Floor Dick” is part of the crowd that created this mess. Don’t be a fool. What a ridiculous post.

[gandalf]

This Santelli guy is NOT a hero, you moron. Upwards of $3 TRILLION is going to be spent on bailing out the FINANCIAL INDUSTRY. And you’re upset about MORAL HAZARD? No irony there. NONE WHATSOEVER.

You want to get upset about something? Direct your ire at the trading floors, financial institutions and investment banks, managing directors and executives, financial promoters, washington lobbyists and deregulating politicians who are principally responsible creating this DISASTER. They are culpable to a degree that FAR EXCEEDS the average foreclosure case.

Do I approve of bailing out non-payers? No. But most of us see some pragmatic value in attempting to mitigate foreclosure activity, attempt to stem the bleeding. Santelli the “Trading Floor Dick” is part of the crowd that created this mess. Don’t be a fool. What a ridiculous post.

[gandalf]

This Santelli guy is NOT a hero, you moron. Upwards of $3 TRILLION is going to be spent on bailing out the FINANCIAL INDUSTRY. And you’re upset about MORAL HAZARD? No irony there. NONE WHATSOEVER.

You want to get upset about something? Direct your ire at the trading floors, financial institutions and investment banks, managing directors and executives, financial promoters, washington lobbyists and deregulating politicians who are principally responsible creating this DISASTER. They are culpable to a degree that FAR EXCEEDS the average foreclosure case.

Do I approve of bailing out non-payers? No. But most of us see some pragmatic value in attempting to mitigate foreclosure activity, attempt to stem the bleeding. Santelli the “Trading Floor Dick” is part of the crowd that created this mess. Don’t be a fool. What a ridiculous post.

[Author]

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