Silverbird's Account Talk

[Silverbird]

The missing verse (took me a bit)

That big fat porker with the Dagwood and the Garmin
Severance package? That's his own affair
That big fat porker's got a Cayman's mansion
That big fat porker is a billionaire

We’ve got to play in a nasty sandbox
We’ve got to move some money around
We’ve got to plan for our long future
We’ve got to retire before our century
(moola moola!)

 

[Silverbird]

[Go Blue Dog (Fiscal Conservative) Dems! Go Webb, who made me happy to be a Dem, and wonder what happened to the Reps! Stop your leadership from running for the cliff while the Republicans stand back! This is another Bush off budget special, if he wants it, he's got to get his own party behind it. Do you want *your* name on this? The Reps are already calling this Dodd's bill! Don't be lemmings!]

Anger, skepticism among members of both parties may put bill in jeopardy
http://www.msnbc.msn.com/id/26858746/

 

[Silverbird]

Re: Davehop21 Account Talk

Barney doesn't get it. It's the fiscal conservatives, and the fundamentalists in full rebellion - against a plan that was presented in completely the wrong way, with the wrong messenger, and abyssmal timing. Ok, we need the electorate to rescue those bankers, now, no strings attached, for more money than the Afgan and Iraq wars, and oh yes, this is the only way to stem the tide but it won't solve the root problem. And the messenger? Paulson. You know, the suit who asked for a bazooka that he wasn't going to use to help Fannie and Freddie, shot it off about a week later, and now is asking for a surface to air missle. As the senator who used this analogy says, when do we start throwing (fiscal) nukes?

Ok, and we present it right before you all need to go home and campaign for the Nov 4 elections. So you can't leave until you pass this bwahaha, so better hurry!

And the lame duck trying to hide behind the new flock leader candidates, inviting the House Republicans to a tea party where they are supposed to play nice, why is anyone surprised if someone kicks the table?

I'm saying this, and I'm a blue dog. I think the Dems are being snookered into trying to fill the San Andreas Fault with dollar bills because there's an earthquake coming, and Engineer Paulson says that's the only way to keep San Francisco from going under. Ok, you toss the money in, now you have nothing for the aftermath.

Barney should be happy, it shows a huge split in the Republican party. So he should just sit back and let Bush, Paulson, and Berneke explain in plain English to the American people, why they need to start shoveling money at these scofflaw banks, since they started this out with an appeal to the American people that has totally boomeranged into a rebellion by the electorate. Unfortunately Democrats always want to "do something!", and know that the earthquake is coming, so I think they are going to get snookered by Paulson.

Already this is now a Democratic plan. Bush is going away, thanks for all the fish! Now you won't have any money when the waste products hit the fan, and you'll all get replaced by Republicans.

 

[Silverbird]

Talks Implode During a Day of Chaos; Fate of Bailout Plan Remains Unresolved
By DAVID M. HERSZENHORN, CARL HULSE and SHERYL GAY STOLBERG
Published: September 25, 2008
New York Times
WASHINGTON — The day began with an agreement that Washington hoped would end the financial crisis that has gripped the nation. It dissolved into a verbal brawl in the Cabinet Room of the White House, urgent warnings from the president and pleas from a Treasury secretary who knelt before the House speaker and appealed for her support.

“If money isn’t loosened up, this sucker could go down,” President Bush declared Thursday as he watched the $700 billion bailout package fall apart before his eyes, according to one person in the room......
http://www.nytimes.com/2008/09/26/business/26bailout.html?ei=5070&emc=eta1

[When the Treasury Secretary kneels before you for your support, run, do not walk, to the nearest exit - the ship is going down]

 

[FogSailing]

SB, your comments strike the right chord with me. However, I'mnow of the opinion that we are the first domino in what will become at a minimum, a worldwide recession, and more likely a depression. We didn't live live during the first one and i never thought I hve to live through one, but I am now starting to think it's a real possibility. I empathize with the milliions of Americans who will see our quality of life take a step back to seventy years ago, but I suppose these things are natural and cyclical, and interference doesn't make any difference. So, I guess it's time to stock up on dry goods..What a major bummer..I am so #$%^$#!!!! off right now...: Definitely not my usual demeanor..

FS

 

[Silverbird]

From what I know of economics, what comes up, will come down, there are cycles of recessions, with a Depression I think about once every 100 years. When things are at their darkest, that is when we rebuild, not when things are falling. I don't like this proposal because even the proponents say it's not enough. If $700 B is not enough, borrowing more may be impossible. I've been sold that we are in a financial crisis. However, recent history (Fannie/Freddie) shows that starting with a huge pool of $'s is not enough to quell panic, you have to put real money down. I do not want to do that with $700 B.

I also think as I said below, the messenger, the message ("Bailout"), the timing (right before the recess), and earlier declarations of "Crisis!" have eroded the confidence of the average American for this idea, and without the American people feeling that something good will come of this, $700B to the Scofflaws, heads you lose, will be the message they get.:worried: And I'm really angry too, and am putting together my vegetable garden.

I am also very afraid we may have a Depression. I see the people with their pitchforks...well their fax machines, flooding their Representatives with angry messages, whose confidence actually has gotten worse with this latest idea - and it's crisis of confidence that causes Depressions.

 

[Birchtree]

I don't really care if this package gets approved or not - I'll survive either way, but the at risk members of our population will have to go back to public housing.

 

[Silverbird]

Not just public housing. Anyone in a small startup with a good idea isn't going to get any loans. It's already happening in Silicon Valley. Medical costs, education costs, food prices etc are becoming untenable. It's not just the poor that will get kicked, so will the middle class, the rich have enough they will be fine.

I'll survive either way too, unless my neighborhood goes downhill, which it could, either way.

 

[Frixxxx]

Not just public housing. Anyone in a small startup with a good idea isn't going to get any loans. It's already happening in Silicon Valley. Medical costs, education costs, food prices etc are becoming untenable. It's not just the poor that will get kicked, so will the middle class, the rich have enough they will be fine.

I'll survive either way too, unless my neighborhood goes downhill, which it could, either way.

Venture Capitalists will be a necessity for startups now. If you can find, negotiate and trust them not to take your business, then a startup could possibly be a promising ad"venture" right now!

 

[Silverbird]

Venture Capitalists will be a necessity for startups now. If you can find, negotiate and trust them not to take your business, then a startup could possibly be a promising ad"venture" right now!

Unfortunately, the Venture capitalists can't get funding to lend out. That's the problem. Or so I hear.

 

[Birchtree]

I heard there were 22,000 homes up for foreclosure in Las Vegas. You could end up the only occupant in an entire neighborhood - close the gates and have street parties.

 

[Frixxxx]

Unfortunately, the Venture capitalists can't get funding to lend out. That's the problem. Or so I hear.

The VC teams are looking for anything right now. A lot of capital is available while they cover their stock losses. I actually have a dinner tomorrow with a group to go over a Business Plan. It's out there, entreprenuers just need to look in the right place!:nuts:

 

[Silverbird]

Hrmm. Someone in the technology trade press trying to get me worried. Thanks Frixxx.

 

[Silverbird]

I should NOT have stuck my toes in. Well it looked Cheep, then when I bought we had the darn "Bailout imminent" false alarm. Must HOLD, cannot panic. At least it looks like F is not following CSI today.
Still stuck in:
3% C7% S 5% F 85% G

 

[Silverbird]

Now a word from our sponsor, Corporate Worker Bee in Dire Straits, because no one with retirement outside of the TSP got the joke of the first version. Comments welcome.

I want my, I want my IRA
Look at them yoyos with my 401K
They play my money down in NY way
It ain’t workin’ but that’s the way they do it
They play my money down in NY way
It ain’t workin’ but that’s the way they do it
Lemme tell you, they can play dumb
Maybe lose a bundle in the wrong investment
Maybe lose a bundle missing the right one


We’ve out here workin’ in a nasty sandbox
We want to move our money around
We’ve got to plan for our long future
We’ve got to retire before our century

That big fat porker with the Dagwood and the Garmin
Severance package? That's his own affair
That big fat porker's got a Cayman's mansion
That big fat porker is a billionaire

We’ve out here workin’ in a nasty sandbox
We want to move our money around
We’ve got to plan for our long future
We’ve got to retire before our century
(moola moola!)

I shoulda learned to loan out money
I shoulda learned to pass those ARMS
Lookitthat! A short seller
Running by b*** naked with no money down
And him up there? Is it Paulson?
Or Berneke droning on the economy?
It ain’t workin’, but that’s the way they do it.
They play my money down in NY way

 

[XL-entLady]

...because no one with retirement outside of the TSP got the joke of the first version. Comments welcome.

If Steady is our minstrel, then Silverbird must surely be our poet laureate!
Lady

 

[Silverbird]

Fellow National City Mortgage holders, latest analysis on company survival: http://money.cnn.com/2008/09/29/news/national.city_deposits.fortune/?postversion=2008092915

Good news: not leveraged up to the hilt.
Bad news: Stock has plummeted in line with other mortgage companies
Biggest risk: panic
"The main risk at any depository institution is a flight of deposits," Sanford C. Bernstein analyst Kevin St. Pierre wrote Friday.

So far, there's no sign National City has had any problems keeping its deposits. St. Pierre wrote Friday that through the end of the second quarter in June, there was "no evidence of flight at NCC, with the company having already made plenty of negative headlines."

 

[fabijo]

Fellow National City Mortgage holders, latest analysis on company survival: http://money.cnn.com/2008/09/29/news/national.city_deposits.fortune/?postversion=2008092915

Good news: not leveraged up to the hilt.
Bad news: Stock has plummeted in line with other mortgage companies
Biggest risk: panic
"The main risk at any depository institution is a flight of deposits," Sanford C. Bernstein analyst Kevin St. Pierre wrote Friday.

So far, there's no sign National City has had any problems keeping its deposits. St. Pierre wrote Friday that through the end of the second quarter in June, there was "no evidence of flight at NCC, with the company having already made plenty of negative headlines."

Thanks for the link. I'll keep an eye on them.

 

[fabijo]

Hey, just for you, Silverbird:

 

[Silverbird]

:blink: Wow I'm famous! (yeahright, Bird!) Thanks Fabijo!