BoatBanter.com - View Single Post - economist blames wall street for collapse

CalifBill

On 5/9/2010 7:48 PM, wrote:
On Sun, 09 May 2010 19:12:47 -0400, wrote:

On Sun, 09 May 2010 17:23:14 -0400, wrote:

On Sun, 09 May 2010 16:26:14 -0400, wrote:

On Sun, 09 May 2010 15:38:18 -0400, wrote:

On Sun, 09 May 2010 14:43:23 -0400, wrote:

uh, no. the market had dropped a few hundred points over the previous
week as the scope of the greek problem became news. a drop of 1
trillion in 1 day had zip to do with greece.

What the hell are you talking about?

you havent been following the market for the last week or 2 have you?
it's been dropping as the greek situation became news...it's BEEN news
for several weeks

The down spike you are talking about lasted about 15 minutes.
There was a correction but that was not a trillion dollars.

and saying absolutely NOTHING about bush...nothing. not a peep.

now, why is that?

I say plenty about bush and the stupid war. That was his fault. The
CDO problem was caused by legislation that happened before he took
office. You seem to ignore that.

uh...no. in fact i quite squarely blame it on the right winger phil
gramm and his enron VP wife who engineered a bill to exclude the SEC
from regulating derivatives

Bush, Gramm, Clinton, I guess they are all the same guy in your mind

I think a lot of the drop was to tell Congress, that Wall Street
controls the money. Do not pass any bills breaking up to big to fail
companies. There are so many controls on the trading software, Wall
Street has a bigger budget than NASA, that to say some fumble finger
pressed a B instead of an M just does not fly. Especially when Wall
Streeters were in front of Congress at the time.