XL-entLady
Well-known member
Wow, with thinking like that you, too, can be Secretary of the Treasury!
Just stay away from the big red button or we'll all go "nucular"! 
:laugh:Lady
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350zCommtech's Account Talk
- Thread starter 350zCommTech
- Start date
Just stay away from the big red button or we'll all go "nucular"! :laugh:Lady
350zCommTech
Well-known member
Got stopped out at 74.38 for a nice profit, on BS consumer confidence. Bought back in again at $74.18. Lets make the same money twice.
350zCommTech
Well-known member
Doubled down at $73.00. Down a few bucks for the day.
350zCommTech
Well-known member
Pheeeewww! Closed everything at $73.61 for a nice profit.
Time to take a shower.
Might make a move in TSP tomorrow.
Time to take a shower.
Might make a move in TSP tomorrow.
350zCommTech
Well-known member
Bailout protests on Wall St.
"No more bail! Send their ass to jail!"
"No more bail! Send their ass to jail!"
Steadygain
TSP Elite
That's what bothers me the most about this whole ordeal.
The Bailout and dealing with the ones behind this mess are 2 totally seperate issues.
If we clear the $700 Billion (even at Taxpayers cost) with the Full assurance that THOSE RESPONSIBLE will all be brought to light and dealt with accordingly....
Then that means these almighty kings that have been immune to the hardships and stresses of the general population; will have to be exposed for actions that essentially crushed the economy...
If we carried this AS WE SHOULD and penalized them for the severity of hardships imposed on Billions of people around the world we could rightfully fry them to a crisp.
I personally believe 'IF THE GENERAL POPULATION HONESTLY BELIEVED THE ONES RESPONSIBLE WOULD BE PUNISHED TO THE MAX; REGARDLESS OF HOW RICH, POWERFUL, OR POLITICALLY CONNECTED THEY ARE
That would do more for this country than anything else. Nothing would more fully prove Morality and Ethics are important and nothing would more fully demonstate Justice for all.
350zCommTech
Well-known member
Great idea. The only way to do that might have to be with pitchforks and torches, since congress doesn't even have the balls to put a penalty on CEO compensation and bonus.
fabijo
Well-known member
350zCommTech
Well-known member
Insider trading? Market manipulation? Wait a second, the head of the SEC is COX. He's a friend of Hanks too.
350zCommTech
Well-known member
I'm having second thoughts about getting back in for Thursday. Tomorrow needs to be a big down morning for me to make a move. Besides, I was only looking to make a quick in and out play anyway.
The bill the senate is going to be voting on tomorrow is just the same failed bill with a little tax cut thrown in. As much as I don't want it to pass, I think the house might pass it this time, which might not happen until Thursday or Friday. I think the 777 point drop yesterday scared them.
Despite what Paulson and the gang are saying, this bill will not fix the credit markets nor will it help the economy. IMO, the market might not even rally on the passed bailout bill.
At the moment, the Yen doesn't look happy and the Nikkei is only up 140 points? You would think the Nikkei would be up 400+ points, after the Dow finishing nearly 500 points. Something is wrong out there.:worried:
The bill the senate is going to be voting on tomorrow is just the same failed bill with a little tax cut thrown in. As much as I don't want it to pass, I think the house might pass it this time, which might not happen until Thursday or Friday. I think the 777 point drop yesterday scared them.
Despite what Paulson and the gang are saying, this bill will not fix the credit markets nor will it help the economy. IMO, the market might not even rally on the passed bailout bill.
At the moment, the Yen doesn't look happy and the Nikkei is only up 140 points? You would think the Nikkei would be up 400+ points, after the Dow finishing nearly 500 points. Something is wrong out there.:worried:
Some congress and senate members were more than likely in on it all; contributors facilitating greed. No they won't seek prosecution of any CEO or member of the banking establishment, and risk getting "identified."
350zCommTech
Well-known member
No, you don't bit the hand the feeds you. You have to think about life after congress.
Hey, a light bulb just came on in my head. The BAC/CFC deal was suppose to be consummated sometime in this quarter, right? Or was it already done? If not, it might explain why the Democrats are so eager to get this bill passed. Or maybe I don't know what I'm talking about.:nuts:
poolman
Top Return 2008
I agree. Be Careful...:blink:
budnipper1
Active member
Even though the current share prices look like rock bottom, I agree with you that it's still very risky to jump in...makes me nervous. Here's a perfect example of your fear that "SOMETHING is WRONG"!!!
Greenberg seeks chance to bid on AIG assets
Tuesday September 30, 10:18 pm ET
NEW YORK (Reuters) - Maurice Greenberg, former chief executive of American International Group has asked the company's current chief executive Edward Liddy for the chance to bid on AIG assets as the company seeks to repay an emergency loan from the federal government.
Liddy took the helm of AIG, once the world's largest insurer, two weeks ago, after the government agreed to lend AIG $85 billion dollars in exchange for a 79.9 percent stake in the company to stave off potential bankruptcy protection.
AIG has been preparing to sell off assets to begin paying off that loan as a group of shareholders seeks to keep control of the company. Among the assets AIG is considering selling is its aircraft leasing unit, reinsurer Transatlantic Holdings, and London City Airport, according to reports.
Greenberg made the request in a letter dated Sept 29, and said the process of the selling of assets has been taking place "without transparency and without providing the opportunity for the participation of alternative purchasers" that would help AIG get the best price for shareholders.
The authenticity of the letter, first reported by the Wall Street Journal's Website on Tuesday, was verified by Greenberg's spokesman Glen Rochkind.
In the letter, Greenberg told Liddy he has a fiduciary duty to obtain the best possible price and "you cannot do so by ignoring offers from qualified potential purchasers."
"AIG welcomes any reasonable expressions of interest in the businesses we plan to sell," said AIG spokesman Joe Norton, who confirmed Liddy's receipt of Greenberg's letter. Norton declined to comment further. Greenberg left AIG in 2005 following an accounting scandal under the threat of prosecution from then New York State Attorney General Eliot Spitzer. He has denied any wrongdoing. http://biz.yahoo.com/rb/080930/business_us_aig_greenberg.html?.v=3
350zCommTech
Well-known member
Yup, the whole thing is making me sick. It just reeks of evil. Giving hank Paulson the power while at the same time putting him on the oversight board makes you think, WTF?
Not sure either. Last I could find was this: "Talk in the marketplace is that BAC is considering whether to attempt to close the CFC deal before the currently stated September target date. From Washington's perspective, closing this deal sooner rather than later is probably a good idea given the rapidly deteriorating financial condition of CFC and particularly its subsidiary bank, Countrywide Bank, FSB."
350zCommTech
Well-known member
Well, obviously, Greenberg was client #9 at the time. Spitzer was very jealous. He wanted to be client #9.:nuts:
350zCommTech
Well-known member
Yes, thank you. Maybe I'm on to something here. CFC was one of the worst sub-prime lenders out there. The bailout would have allowed BAC to sell CFC's garbage at a profit to the treasury. I believe the BAC/CFC deal was for $15-16/share. BAC would make out like a bandit and also have a clean balance sheet. Which means more money for Chris Dodd. This is probably just tinfoil stuff.
