Market crash: are we there yet ?

[bestfriend]

Hi Hog! I've been selling my boat.

Here's an interesting read. I know nothing about this guy, so don't hammer me on the source. Note the date of the article...2 years ago.

Minyanville - Market Commentary, Investing Ideas, Global Finance, The Economy

[bestfriend]

Originally Posted by bill352

Let's see if we can learn a little bit from history and try not to elect people who will make the same mistakes again.

Here here! Like Arnold in California. Our economy has gone from bad to way worse with his help. I never voted Gray Davis out, he got a bad rap, and I never voted Arnold in. The prison guard union is filing impeachment papers for his removal. I will gladly sign it. 70 some-odd days late, the budget finally gets passed and at the expense of our children in school, Arnold is going to veto it because he says "its not what californians want". What a moron.

[PBzeer]

So Bill, we should throw out most all of Congress this election?

[wind_magic]

I'm all in. Go baby go.

[chucklesR]

Too much doom and gloom here.
Try this out for size:
Value Driven: Are we in a recession...or not? - Sep. 17, 2008

Still NOT in a recession.

[PBzeer]

"There have been no significant changes to the financial regulations in the last eight years that might credibly have created this crisis (the one major alteration, Sarbanes-Oxley, moved things in the other direction). And it's hard to blame loosened oversight when the entire market systematically overvalued the now-toxic securities. Lehman Brothers was not, after all, trying to put itself into receivership for the sheer joy of molesting taxpayers. The SEC is an extremely valuable agency, but even its crack regulators are not omniscient demigods who can instantly divine the "true" price of a complex security. Nor does it make sense to blame overpaid CEOs. Rick Wagoner's millions may be ill-deserved, but they did not force his customers to take out unreasonably large bank loans, nor compel investment managers to buy the securities into which those loans were packaged." Megan MacArdle, The Atlantic

[bill352]

Originally Posted by PBzeer

So Bill, we should throw out most all of Congress this election?

Once again, you're toying with my emotions. Wombat for president and a brand-new Congress? Ah, that were Paradise enow! But at least we can change the executive branch.

[Rickm505]

Originally Posted by PBzeer

"There have been no significant changes to the financial regulations in the last eight years

John, you're becoming afflicted with Sailaway21-itis. This has already been covered in this thread. I've written about it several times, as have others.

The SEC just looked the other way John. Read about naked shorting on any financial web site. The law was there... they decided not to enforce it. These are Bush administration people.

Like I said, it's a Republican mess. Quit your whinning and take it like a man.

[Rickm505]

Ought oh...........

____________________________________

....."The Treasury Department, for the first time in its history, said it would begin selling bonds for the Federal Reserve in an effort to help the central bank deal with its unprecedented borrowing needs.
Treasury officials said the action did not mean that the Fed was running short of cash, but simply was a way for the government to better manage its financing needs. ....."

_____________________________________

Unprecedented ... Is the Fed is out of money?????? Has anyone been keeping track of what they had left in reserves?

[camaraderie]

Rick...Can I just change your screen name to Mr. Sunshine!?