Showing posts with label Investing. Show all posts
Showing posts with label Investing. Show all posts

Thursday, October 22, 2009

Row of slot machines inside Las Vegas airport.Image via Wikipedia
The politicians are pandering to the ignorant, the ill informed and our naïve youth. I can't sugarcoat this, my friends. One of our greatest rights is debate, and I support to my death our freedom of speech in this great nation. I do not support the stifling of debate. I do not support a freedom to remain ignorant at the expense of others. I do not support practices absent of truth and reason from the "weak and stupid" or from the "strong and brightest" of minds. I do not support this stimulus legislation being portrayed as, a road to recovery. It's a road to disaster, my friends. It's no different than sitting in front of a slot machine and believing, "If I just put in another $2,700 that I don't have, I may get lucky. Let me go borrow $2,700 dollars from my children and my grandchildren so I can keep playing a losing game." The concept similarity with this Washington band of crooks and idiots is stunning and frankly, unforgivable. The chances of this bill working as written or as intended are far less likely to succeed than our slot machine payoff. Let's just recite some recent facts:

1. Stimulus refunds of $300 and $600 per person a year ago was not a success. On the contrary, it was a $150 billion squandering of borrowed money.

2. The $350 billion TARP funds went to corrupt banking institutions in December 2008 and we'll never see those funds working for the people as intended to restructure and write new loans.

3. The $350B remaining from the $700B total TARP allotment hasn't been allocated to fixing our housing problems to date as they, our representatives and appointed leaders, promised the funds would be, as a priority. It will also be given without stipulations.

These morons simply write, sign and implement legislation and have no fear of voter reprisals. With no real objective evidence, they cannot present truthfully what this bill will even accomplish or the specific number of jobs it will resurrect. If I would have gone to my employer with a proposal structured under vague and speculative reasoning, I would have had to pack a box from my desk and be escorted to the door. Just the thought of this unbelievable Washington charade makes my skin crawl.

Many are turning a blind eye to corruption, greed and blatant lies/deceptions from our legislators. We're all being duped by these clowns in new suits and ties who work three days a week, if that.

For heaven's sake America, lets all contribute a bit more critical thinking when selecting our representation. Now, we'll have "congressional oversight" with this stimulus bill. In Washington? By these fumblers?

Well, hold on for your life and the life of your family my fellow Americans because "everything goes, when everything is gone!" So the next time you pull the lever at the voting both or the slot machine, don't pull it thinking your playing with someone else's money and don't think you're going to win.

Reblog this post [with Zemanta]

Wednesday, October 21, 2009

Bear Stearns World Headquarters at nightImage via Wikipedia

If you read between the lines of my previous two posts, you will easily detect a person who believes that the only way to prevent abuse is the rule of law.

In finance, we need to re-enact old laws (Glass Steagal, etc) and outlaw again behavior that was illegal up to 2000. We need to pass new laws to deal with the modern reality of world financial markets.

All of our laws should be aimed at protecting the common good. The common good is not being served by a financial industry that is, right now, totally out of control and being run by what are really sociopaths.

Our financial systems work. They are, however, delicate and full of nuance. We lack restraints with teeth to keep the systems upon which we all depend from being abused by a few.

When I say a few, let's be very clear about this. We now know that the catastrophe in CDS was caused by less than 20 people. If you gather all top executives of all major financial institutions in the U.S., you would have less than 10,000 people. There are a little over 300 million people in the U.S.

Whose interests should be served?

We need tough laws and even tougher enforcement.

Lastly, it is widely known that the favorite expression at Bear Sterns was "F...k you!" yelled as loudly as possible even to customers.

People playing with big amounts of OPM cannot be trusted.
Reblog this post [with Zemanta]