Comments on: You, me and the guy next door have a stake in Wall Street http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street New Mexico news and commentary Sat, 20 Mar 2010 04:54:53 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Bethany K Ford http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street/comment-page-1#comment-3663 Bethany K Ford Wed, 04 Feb 2009 01:45:12 +0000 http://newmexicoindependent.com/?p=3057#comment-3663 nice article! nice site. you're in my rss feed now ;-)<br>keep it up nice article! nice site. you're in my rss feed now ;-)
keep it up

]]> By: TheEd http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street/comment-page-1#comment-1262 TheEd Thu, 02 Oct 2008 20:03:22 +0000 http://newmexicoindependent.com/?p=3057#comment-1262 THANK CONGRESS AND THE CHENEY/BUSH ADMINISTRATION FOR THE ROYAL REAMING OF THE AMERICAN MIDDLE CLASS THAT ALLOWED WALL STREET, POLITICIANS AND THE ELITE UNGODLY AMOUNTS OF COMPENSATIONS WHILE PEOPLE’S RETIREMENT FUNDS ARE GOING DOWN THE TOLIET. <br>To date, nearly 1 Trillion dollars on bailing out AIG, Fannie/Freddie, Bear Stearns, WAMU, and other Institutions. Did this improve in the economy? These bailouts only accelerated the economic downturn. Now Congress wants to fix the economy by throwing a $850 billion SELLOUT BILL at the problem, but it will only accelerate the CRASH and compound the SEVERITY of the MELTDOWN. <br>Add the sweetener that is comprised of tax cuts and so call benefits for the American middle class and small businesses. It is a major smokescreen to fool taxpayers while benefiting Wall Street thieves and their henchmen who will actually walk away with the MONEY. What this SELLOUT BILL needs is a small addition which allows shareholders to file suit against the Boards and Management of these companies for their lies and mismanagement. Congress in the past has removed this right for the middle class give it back to the taxpayer. <br>Plus this SELLOUT BILL still allows PAULSON AND BERNANKE almost unlimited power to buy what could be worthless assets. How can PAULSON AND BERNANKE be trusted when they will not provide any information related to the previous Bears Stearns Bailouts. See the news article at <a href="http://abcnews.go.com/Blotter/story?id=5930875&page=1">http://abcnews.go.com/Blotter/story?id=5930875&...</a> THANK CONGRESS AND THE CHENEY/BUSH ADMINISTRATION FOR THE ROYAL REAMING OF THE AMERICAN MIDDLE CLASS THAT ALLOWED WALL STREET, POLITICIANS AND THE ELITE UNGODLY AMOUNTS OF COMPENSATIONS WHILE PEOPLE’S RETIREMENT FUNDS ARE GOING DOWN THE TOLIET.
To date, nearly 1 Trillion dollars on bailing out AIG, Fannie/Freddie, Bear Stearns, WAMU, and other Institutions. Did this improve in the economy? These bailouts only accelerated the economic downturn. Now Congress wants to fix the economy by throwing a $850 billion SELLOUT BILL at the problem, but it will only accelerate the CRASH and compound the SEVERITY of the MELTDOWN.
Add the sweetener that is comprised of tax cuts and so call benefits for the American middle class and small businesses. It is a major smokescreen to fool taxpayers while benefiting Wall Street thieves and their henchmen who will actually walk away with the MONEY. What this SELLOUT BILL needs is a small addition which allows shareholders to file suit against the Boards and Management of these companies for their lies and mismanagement. Congress in the past has removed this right for the middle class give it back to the taxpayer.
Plus this SELLOUT BILL still allows PAULSON AND BERNANKE almost unlimited power to buy what could be worthless assets. How can PAULSON AND BERNANKE be trusted when they will not provide any information related to the previous Bears Stearns Bailouts. See the news article at http://abcnews.go.com/Blotter/story?id=5930875&...

]]> By: JoMa http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street/comment-page-1#comment-1259 JoMa Thu, 02 Oct 2008 17:56:53 +0000 http://newmexicoindependent.com/?p=3057#comment-1259 The other evening I happened to catch an interview with the founder of Vanguard Mutual Funds, John Vogel. Through the years, I had the opinion that this was a decent company which offered sound investment opportunities with a t well controlled expense level.<br><br>Vogel, in the interview I saw, basically said that today's "market" is entirely a trader's speculators game. He is not happy with what it devolved to. He's basically suggesting that, if you have the time horizon, just stay put. If not, stay out of the market and put your money in insured instruments like CDs (not to me confused with CDS, or Credit Default Swaps), certain money market funds, bonds and the like.<br><br>What struck me about this is that the so-called "credit crunch", which the handout is designed to, ah, rescue, is a separate, but connected issue. What you'll see happening with the credit markets is that people with a FICO score south of 700 will find it difficult and more expensive to pile on more debt because banks are being forced to come to their senses and actually determine if a loan can be paid off before throwing money at you.<br><br>I think the speculators are driving the equities market down simply to threaten Congress. If the bill doesn't pass and Wall Street recognizes it will have to use its own money, more decrepit companies will blow up, but is that a bad thing? We've been on a credit binge for a long time, and, yes, the hangover is going to hurt a lot. But did we really think the party would never end?<br><br>Oh, if you really want to get annoyed, take some time to read about all the "pork" the business-as-usual Senate happened to throw into the handout bill they passed last night. Caution: Air sickness bag recommended! The other evening I happened to catch an interview with the founder of Vanguard Mutual Funds, John Vogel. Through the years, I had the opinion that this was a decent company which offered sound investment opportunities with a t well controlled expense level.

Vogel, in the interview I saw, basically said that today's “market” is entirely a trader's speculators game. He is not happy with what it devolved to. He's basically suggesting that, if you have the time horizon, just stay put. If not, stay out of the market and put your money in insured instruments like CDs (not to me confused with CDS, or Credit Default Swaps), certain money market funds, bonds and the like.

What struck me about this is that the so-called “credit crunch”, which the handout is designed to, ah, rescue, is a separate, but connected issue. What you'll see happening with the credit markets is that people with a FICO score south of 700 will find it difficult and more expensive to pile on more debt because banks are being forced to come to their senses and actually determine if a loan can be paid off before throwing money at you.

I think the speculators are driving the equities market down simply to threaten Congress. If the bill doesn't pass and Wall Street recognizes it will have to use its own money, more decrepit companies will blow up, but is that a bad thing? We've been on a credit binge for a long time, and, yes, the hangover is going to hurt a lot. But did we really think the party would never end?

Oh, if you really want to get annoyed, take some time to read about all the “pork” the business-as-usual Senate happened to throw into the handout bill they passed last night. Caution: Air sickness bag recommended!

]]> By: Thomas_James http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street/comment-page-1#comment-1250 Thomas_James Thu, 02 Oct 2008 13:01:35 +0000 http://newmexicoindependent.com/?p=3057#comment-1250 "Economists might be known for disagreeing with each other, but there is surprising agreement regarding the bailout and the causes for the current financial problems. There was no support for the broad bailout being discussed in Washington, and the economists believed that the same outcome could be achieved at much lower cost to the taxpayers." “Economists might be known for disagreeing with each other, but there is surprising agreement regarding the bailout and the causes for the current financial problems. There was no support for the broad bailout being discussed in Washington, and the economists believed that the same outcome could be achieved at much lower cost to the taxpayers.”

]]> By: Thomas_James http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street/comment-page-1#comment-1249 Thomas_James Thu, 02 Oct 2008 12:55:55 +0000 http://newmexicoindependent.com/?p=3057#comment-1249 There is little agreement on how serious the current problems are. Take the statements from three of the economists. John Cochrane, a professor at the University of Chicago Business School, worried that the solution was out of all proportion to the problem.<br><br>"The legislation is like this: some boats are sinking, so rather than bailing those boats out, you blow up the dam and drain the whole lake." There is little agreement on how serious the current problems are. Take the statements from three of the economists. John Cochrane, a professor at the University of Chicago Business School, worried that the solution was out of all proportion to the problem.

“The legislation is like this: some boats are sinking, so rather than bailing those boats out, you blow up the dam and drain the whole lake.”

]]> By: Thomas_James http://newmexicoindependent.com/3057/many-watch-from-the-corner-of-wall-street-and-main-street/comment-page-1#comment-1247 Thomas_James Thu, 02 Oct 2008 12:35:55 +0000 http://newmexicoindependent.com/?p=3057#comment-1247 And what about everybody that didn't put there money into investments that have turned bad....that didn't invest in companies making bad mortgages......that didn't take on risk.....We are saying to everybody that made good choices "Too bad sucker, you should made risky deals like us so the govt. could bail you out" This is immoral and wrong. This is simply robbing responsible Peter to pay dumb Paul. Shame on Congress and everybody that supports this socialist intervention. So much much for the lassiez faire American that didn't have trillions of dollars of debt. Thanks for doing something that will no doubt result in my children and grandchildren's life being that much worse. Our children will pay for this increased debt, they will be taxed for it. It used to be that taxation without representation was a reason for a revolution, now we have a Congress and people that have no problems creating taxation for children that can't vote and those not even born yet. That is just simply immoral and everybody supporting it should be ashamed. And what about everybody that didn't put there money into investments that have turned bad….that didn't invest in companies making bad mortgages……that didn't take on risk…..We are saying to everybody that made good choices “Too bad sucker, you should made risky deals like us so the govt. could bail you out” This is immoral and wrong. This is simply robbing responsible Peter to pay dumb Paul. Shame on Congress and everybody that supports this socialist intervention. So much much for the lassiez faire American that didn't have trillions of dollars of debt. Thanks for doing something that will no doubt result in my children and grandchildren's life being that much worse. Our children will pay for this increased debt, they will be taxed for it. It used to be that taxation without representation was a reason for a revolution, now we have a Congress and people that have no problems creating taxation for children that can't vote and those not even born yet. That is just simply immoral and everybody supporting it should be ashamed.

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