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patientrenter
Participant[quote=tc]Wait.[/quote]
+1… and LoL!
Participant[quote=tc]Wait.[/quote]
+1… and LoL!
Participant[quote=tc]Wait.[/quote]
+1… and LoL!
ParticipantCA Renter: your description is very close…
ParticipantCA Renter: your description is very close…
ParticipantCA Renter: your description is very close…
ParticipantCA Renter: your description is very close…
ParticipantCA Renter: your description is very close…
ParticipantMost of the actuaries I know (not all) only used this method as one more reference point to determine the value of the annuities etc. I am a little amazed that the PhD physicists from MIT at JPM and their risk managers etc applied it blindly to bond default valuations. Of course, it led to much bigger paychecks, so maybe they didn’t think too hard… “It’s hard to get a man to understand something, if his salary depends on him not understanding it.”
Oh, and all that stuff about the shadow banking system being the cause of all our problems? BS… It’s just a mechanism that transmits the problems through from one company to another. The underlying problem is very, very simple – overpriced assets against which too much money was borrowed. All the rest is simply the various consequences of that bad fundamental. And, yes, I understand how these derivatives were abused to help responsibility for prudent lending to go from front-line decisionmakers to very dispersed, to nothing. But they were only one piece of that. FNMA, the Fed, China, dumb investors, and others were at least as important.
ParticipantMost of the actuaries I know (not all) only used this method as one more reference point to determine the value of the annuities etc. I am a little amazed that the PhD physicists from MIT at JPM and their risk managers etc applied it blindly to bond default valuations. Of course, it led to much bigger paychecks, so maybe they didn’t think too hard… “It’s hard to get a man to understand something, if his salary depends on him not understanding it.”
Oh, and all that stuff about the shadow banking system being the cause of all our problems? BS… It’s just a mechanism that transmits the problems through from one company to another. The underlying problem is very, very simple – overpriced assets against which too much money was borrowed. All the rest is simply the various consequences of that bad fundamental. And, yes, I understand how these derivatives were abused to help responsibility for prudent lending to go from front-line decisionmakers to very dispersed, to nothing. But they were only one piece of that. FNMA, the Fed, China, dumb investors, and others were at least as important.
ParticipantMost of the actuaries I know (not all) only used this method as one more reference point to determine the value of the annuities etc. I am a little amazed that the PhD physicists from MIT at JPM and their risk managers etc applied it blindly to bond default valuations. Of course, it led to much bigger paychecks, so maybe they didn’t think too hard… “It’s hard to get a man to understand something, if his salary depends on him not understanding it.”
Oh, and all that stuff about the shadow banking system being the cause of all our problems? BS… It’s just a mechanism that transmits the problems through from one company to another. The underlying problem is very, very simple – overpriced assets against which too much money was borrowed. All the rest is simply the various consequences of that bad fundamental. And, yes, I understand how these derivatives were abused to help responsibility for prudent lending to go from front-line decisionmakers to very dispersed, to nothing. But they were only one piece of that. FNMA, the Fed, China, dumb investors, and others were at least as important.
ParticipantMost of the actuaries I know (not all) only used this method as one more reference point to determine the value of the annuities etc. I am a little amazed that the PhD physicists from MIT at JPM and their risk managers etc applied it blindly to bond default valuations. Of course, it led to much bigger paychecks, so maybe they didn’t think too hard… “It’s hard to get a man to understand something, if his salary depends on him not understanding it.”
Oh, and all that stuff about the shadow banking system being the cause of all our problems? BS… It’s just a mechanism that transmits the problems through from one company to another. The underlying problem is very, very simple – overpriced assets against which too much money was borrowed. All the rest is simply the various consequences of that bad fundamental. And, yes, I understand how these derivatives were abused to help responsibility for prudent lending to go from front-line decisionmakers to very dispersed, to nothing. But they were only one piece of that. FNMA, the Fed, China, dumb investors, and others were at least as important.
ParticipantMost of the actuaries I know (not all) only used this method as one more reference point to determine the value of the annuities etc. I am a little amazed that the PhD physicists from MIT at JPM and their risk managers etc applied it blindly to bond default valuations. Of course, it led to much bigger paychecks, so maybe they didn’t think too hard… “It’s hard to get a man to understand something, if his salary depends on him not understanding it.”
Oh, and all that stuff about the shadow banking system being the cause of all our problems? BS… It’s just a mechanism that transmits the problems through from one company to another. The underlying problem is very, very simple – overpriced assets against which too much money was borrowed. All the rest is simply the various consequences of that bad fundamental. And, yes, I understand how these derivatives were abused to help responsibility for prudent lending to go from front-line decisionmakers to very dispersed, to nothing. But they were only one piece of that. FNMA, the Fed, China, dumb investors, and others were at least as important.
April 26, 2009 at 2:38 PM in reply to: OT: There’s never been a better time to buy a GM car…. #387537Participant[quote=Rt.66]masayako wrote:
“Pontiac should have been axed
Submitted by masayako on April 23, 2009 – 3:46pm.
Pontiac should have been axed long long time ago. GM sucks. They deserve to go backrupt.”
—————–WADR you are an a gleaming example of what is terribly wrong with this country.
Any idea how many people will lose thier jobs when GM goes belly up? ANy idea how many pensions GM supports? (490,000). Any idea who gets to support those people out of work and pick up the retirement needs? (you do).
Have you ever owned a Pontiac? I have a relative with one and it’s stellar. I owned two when I was younger and loved them. Perfect fit for the young boy racer crowd Pontiacs are targeted to, reliable, fast, inexpensive and economical.
GM…100 years of providing hundreds of thousands of good paying jobs with benefits to Americans and in some weird, twisted, perversion of sanity throngs of lemming Americans chant “death to GM”.
Your Japanese corporate masters have achieved full control of your little mind. Enjoy your Honda and…….. super high taxes to cover those who will be tossed out of work when your wish is granted, and the inevitable unemployment that will reach you and your job about the time you realize that a country who does not support itself and defend its jobs will die, and a country without a healthy, vibrant and growing manufacturing base is destined to send its money to the countries that DO manufacture stuff.
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Rt 66, I see you’re not a subscriber to that Adam Smith ‘invisible hand’ thing, are you? Perhaps you’d approve of each person having to supply all their own goods and services? Or would you allow it to extend out to family? (I hope you have a good farm and farmer in your family.) Or should we just cut off the trading at our borders, because splitting up tasks between us and those damn untrustworthy foreigners just isn’t worth any benefits we might get?
I stopped considering US makers for my own car purchases because they consistently lost to Toyota and Honda and others on the things I cared about the most – reliability and practicality. Toyota and Honda beat the domestic makers by a margin consistently for at least 20 years, and that is paying off. Now the US makers need to beat the competition on quality by a good margin for 10 years minimum, and then I’ll start to look at their offerings. In the meanwhile, they can focus on winning through gimmicks and marketing and subsidies, and a few narrow hits, and I’ll let others buy for all that. Toyota and Honda didn’t just show up on the shores of the US with the unfair advantage of a good reputation for value and quality – they earned it slowly by providing the value and quality consistently over decades.
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