Aig

[MUSKYMAN]

clinton takes the safe guards of the machine , greenspan was asleep at the switch and the crazy machine ran full throttle until it blew up.

now it has to be rebuilt before it will run again.

Not like it's not been goin' on all along, look at TVA......

never thought of that?...see when things around your whole life you tend not to think of them and how they play a role. funny you mention that as well seeing as when the TVA started it was kinda a jump start and create a new economy plan.

It would be cool if the US started such a project today based on high speed rail nationwide...that would get us out of this depresion

 

[SGaynor]

It would be cool if the US started such a project today based on high speed rail nationwide...that would get us out of this depresion

HOLY SHIT! Did Obama hack Musky's account? Just replace rail with energy!

 

[SGaynor]

Seems like today may be a bell-weather day.

It's going to be interesting to see what the effects of the the billions pumped into the liquidity markets by the central banks and the "new" rules on short sales (esp WRT to Morgan Stanley and Goldman Sachs).

It looks like panic has sunk in and it's effecting the comercial paper and the overall credit market (overnight interbanks loans were nearly 3x the normal % rates). If credit doesn't unlock itself and loosen up soon, I fear that the problem with the financial sector will rapidly affect the rest of the economy (which actually isn't doing too bad - weak, but not dire).

 

[eric w siepmann]

Principle versus practice.

What moron is going to let a trillion dollar entity that is globally intertwined fail? A trillion dollar domino effect would hurtle the world into another Depression, most likely worse than the first.

 

[Rusty Shackelford]

hi

 

[eric w siepmann]

Me.

The government has absolutely no business meddling in a free-market economy. Global depression? Boo Fucking Hoo, you all did it to yourselves, and your selfish "I might be negatively affected by the collapse" is enough to my make my ears bleed.

I can't believe that nobody believes that they are just a small part of something bigger than themselves. So called patriots - shame on you.

I can't believe there isn't shooting in the streets right now.

Just another example of "I'm too scared, let the Fed's do whatever they they want, as long as I'm not scared anymore".

For shame.

Last I checked the US economy isn't a pure free market economy. Only an ignorant individual would want one.

The consequences of the AIG failure were very real. You just seem to use bravado to make the sand your sticking your head in more comfortable. A Trillion dollar loss that would have no global effect? Are you fucking kidding me? Even someone preaching free market economic theory should have more common sense then to so casually throw aside the threat of a loss that large and the resulting devastation it would have caused.

Why would there be shooting in the streets? What the hell does patriotism have to do with the discussion at hand? If you were the head of the Fed what would you have done and why?

Who's scared? Last recovery I nearly tripled my portfolio. The current situation makes me salivate. Then again, I have no credit cards, can afford my fixed traditional loan, live within my means and have been saving since leaving school.....

 

[Rusty Shackelford]

hi

 

[landrovered]

"I wouldn't be head of the Federal Reserve, it is an illigal, immoral institution, and any educated patriot would already know that. The fact the Federal Reserve dictates anything to do with a free country's economy is reason enough to start shooting."

Dude your bunker is calling you.

 

[Rusty Shackelford]

hi

 

[landrovered]

Why don't you splain it to me then Mr. Patriot!

 

[Rusty Shackelford]

hi

 

[landrovered]

So what are you proposing? Eliminate the Federal Reserve, go back to the gold standard, what else?

 

[eric w siepmann]

@ Rusty

Gotcha. I agree. We seem to be on a similar page arguing theory. And yes the prospects of uour economic future are frightening. Battening down the hatches and looking to recession proof my career. But I have to force myself to see the opportunities. IE Get those career designations and make yourself a very good interview candidate if need be, save don't spend , et al.

@Landrovered

Rusty isn't entirely off. He appears to be simply saying if we all sought to maximize the good for the US people then an entity like the Fed can be construed as unnecessary and a detriment to our national economy. Basically, the argument is that we all should be moral enough to engage in sound business, responsible enough to live within our means, and intelligent enough to continue to innovate and grow our economy and wealth as an entire nation. I missed that in my original response, but it came to me after walking the pooch. Not that bad an ideal to hold and if we all at least tried to attain it then our lot as US citizens would be better.

Back to enjoying my day off. Last 18 for a long time.

 

[Mike_Rupp]

So what are you proposing? Eliminate the Federal Reserve, go back to the gold standard, what else?

I think we need more government involvement. We need another branch of the government to solve this difficult issue. Remember after 9/11 and the airport security was nationalized? We need to have a department of homeland banking. Effective immediately, all of the banks need to be nationalized and all of the workers need new government issued uniforms. We'll all feel so much better then. You know what, let's wait to do this when Obama is in office. Then we'll really feel safe and sound knowing that someone so intelligent will be managing everything.

 

[Rusty Shackelford]

hi

 

[landrovered]

@Landrovered

Rusty isn't entirely off. He appears to be simply saying if we all sought to maximize the good for the US people then an entity like the Fed can be construed as unnecessary and a detriment to our national economy. Basically, the argument is that we all should be moral enough to engage in sound business, responsible enough to live within our means, and intelligent enough to continue to innovate and grow our economy and wealth as an entire nation. I missed that in my original response, but it came to me after walking the pooch. Not that bad an ideal to hold and if we all at least tried to attain it then our lot as US citizens would be better.

Back to enjoying my day off. Last 18 for a long time.

I would like to live in that world to but I got news for you. The fundamental juxtaposition we are left with is this...

A corporations mission is to maximize profit/value for the shareholder. This sounds an aweful lot like institutionalized greed to me. With greed being the primary objective, how can an institutions such as this create a benevolent and virtueous marketplace?

 

[Rusty Shackelford]

hi

 

[Rusty Shackelford]

hi

 

[Rusty Shackelford]

hi

 

[Mike_Rupp]

Morality has nothing to do with a free market. What is key in a free market is that in every transaction, people act in their own best interests and the outcome will be the best possible result for the market.

Why should the market be benevolent or virtuous? To me, that sounds like somebody getting something for nothing.