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#1
posted to rec.boats.cruising
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OT - Is your city out of fuel?
Three days ago Galveston's refineries went through Hurricane Ike and we
lost a few oil platforms. Today, Charleston's gas stations are "out of gas" to fill the cars.....or are telling their customers they are out of gas, when they're not. I can say that because I just saw a guy headed out to the tanks of a local gas station near my home, after dark, so I swung around on the scooter and parked in the lot across the street to watch him. There are plastic bags covering all the pumps and they've taken down the prices from the sign, turning out the lights. He dipped that long measuring stick down into 5 tanks full of fuel. The damned SOBs are trying to pull the same **** they did in 1973 all over again......closing full gas stations to get that price up over $5, 6, 7 or $10/gallon. Is your city out of fuel, too? I got a new law. Any gas station closed is to be inspected for fuel storage. Any station found with fuel and closed has its business license revoked. Any COMPANY owned station found with fuel has ALL the company owned stations in the city's license revoked. *******s.... Lehman Brothers Holdings went bankrupt, today, another scam on investors. Tonight their stock is worth 19c/share down from $67 this year. Isn't it amazing how Wall Street can simply make billions vanish in a day. Set up the gallows. I'll pull the first levers. |
#2
posted to rec.boats.cruising
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OT - Is your city out of fuel?
"Larry" wrote in message ... Lehman Brothers Holdings went bankrupt, today, another scam on investors. Tonight their stock is worth 19c/share down from $67 this year. Isn't it amazing how Wall Street can simply make billions vanish in a day. Set up the gallows. I'll pull the first levers. That should put a lot of luxury yachts, penthouse apartments, and cars on the market. These *******s have been paying themselves too much for too long, using your money, now their chickens are coming home to roost with a vengeance. Dennis. |
#3
posted to rec.boats.cruising
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OT - Is your city out of fuel?
"Dennis Pogson" wrote
now their chickens are coming home to roost with a vengeance. Chickens are the most brutally vindictive of all poultry... |
#4
posted to rec.boats.cruising
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OT - Is your city out of fuel?
In article ,
"Dennis Pogson" wrote: "Larry" wrote in message ... Lehman Brothers Holdings went bankrupt, today, another scam on investors. Tonight their stock is worth 19c/share down from $67 this year. Isn't it amazing how Wall Street can simply make billions vanish in a day. Set up the gallows. I'll pull the first levers. That should put a lot of luxury yachts, penthouse apartments, and cars on the market. These *******s have been paying themselves too much for too long, using your money, now their chickens are coming home to roost with a vengeance. and no-one will be brought to book for this debacle. *Someone* dreamed up this sub-prime crap, and with some forensic accountancy, they can be found, but it won't be done because it will tread on too many toes. -- Molesworth -- http://www.stcustards.free-online.co.uk/ |
#5
posted to rec.boats.cruising
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OT - Is your city out of fuel?
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#6
posted to rec.boats.cruising
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OT - Is your city out of fuel?
"Larry" wrote in message
... As with every recession and depression since 1913, all this lays at the feet of the seat of real power in the USA....The Federal Reserve Private Secret Bank Corporation shhh... ok, now you're out of the club. -- "j" ganz @@ www.sailnow.com |
#7
posted to rec.boats.cruising
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OT - Is your city out of fuel?
On 16 Sep 2008 10:30:05 -0500, Dave wrote:
*Someone* dreamed up this sub-prime crap, and with some forensic accountancy, they can be found, but it won't be done because it will tread on too many toes. Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. Even more profitable was borrowing money at very low interest rates and using the funds to buy high yield bonds. The profits were limited only by your ability to borrow and the availability of high yield investments. Sub-prime was invented to meet that demand. It was clear to me 5 years ago that the bond holders would eventually be left holding the bag just like the Savings and Loan industry was caught out back in the 80s. What wasn't clear to me was that the financial industry had drunk a lot of their own toxic Kool Aid and would end up being the ultimate bag holders. |
#8
posted to rec.boats.cruising
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OT - Is your city out of fuel?
On Sep 16, 10:26*am, Wayne.B wrote:
.... Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. * The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. *... If you need one person to blame it is Alan Greenspan. But, at a macro scale I think sub-prime was a symptom rather than the root problem. The problem writ large is that real wages haven't kept pace with industrial growth. The distance between what consumers can afford and what producers need to sell has every increasingly been bridged with consumer credit. As traditional credit sources backed by well understood collateral were used up "innovative" lines of credit, like sub-prime and many new "derivatives", were created to support a "healthy" growth rate. Rules that were put in place in the last great consumer credit crunch have been loosened all around to maintain liquidity. The result is that this correction comes with an unprecedented amount of leverage. The scale and depth of this crisis is daunting but it is fundamentally a question of balancing consumption and production. Blaming greed is like blaming gravity; they're just part of the structure of the world and they are with us always in good times and bad. -- Tom. |
#9
posted to rec.boats.cruising
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OT - Is your city out of fuel?
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#10
posted to rec.boats.cruising
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OT - Is your city out of fuel?
On Sep 16, 11:26*am, " wrote:
On Sep 16, 10:26*am, Wayne.B wrote: ... Sub-prime was dreamed up because there was only just so much legitimate mortgage debt to go around. * The whole business of packaging debt and then selling/securitizing it via bonds was highly profitable while the fun lasted. *... If you need one person to blame it is Alan Greenspan. But, at a macro scale I think sub-prime was a symptom rather than the root problem. The problem writ large is that real wages haven't kept pace with industrial growth. ,,, With apologies I wanted to add this note from Newsweek: http://www.newsweek.com/id/159346/page/1 -- Tom. |
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