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Out of Control
Just read the announcement of the additional government bailout of Citigroup out of the TARP money. Is it just me, or is this whole thing getting totally out of control? I get a kick out of the wording of the statement. Quoting a couple of parts: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued late Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks." Isn't it taxpayer's resources being used? What's this "our resources" stuff? Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Eisboch (frustrated American taxpayer) |
Out of Control
On Mon, 24 Nov 2008 03:50:38 -0500, Eisboch wrote:
Just read the announcement of the additional government bailout of Citigroup out of the TARP money. Is it just me, or is this whole thing getting totally out of control? I get a kick out of the wording of the statement. Quoting a couple of parts: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued late Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks." Isn't it taxpayer's resources being used? What's this "our resources" stuff? Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Eisboch (frustrated American taxpayer) It's as if the banks gave all the whores credit cards they never have to repay and they refuse to service the public. Who would have guessed. |
Out of Control
On Mon, 24 Nov 2008 03:50:38 -0500, Eisboch wrote:
Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. If the Great Depression happened today, it's cost has been estimated at somewhere north of $30 trillion. An economic collapse, would be even more. Both scenarios are still quite possible. I don't like bailing out incompetent greedy *******s, but I like breadlines even less. |
Out of Control
wrote in message t... On Mon, 24 Nov 2008 03:50:38 -0500, Eisboch wrote: Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. If the Great Depression happened today, it's cost has been estimated at somewhere north of $30 trillion. An economic collapse, would be even more. Both scenarios are still quite possible. I don't like bailing out incompetent greedy *******s, but I like breadlines even less. I would feel much more comfortable if another team were calling the shots. These guys are too connected with Wall Street. Eisboch |
Out of Control
On Mon, 24 Nov 2008 06:00:19 -0500, Eisboch wrote:
I would feel much more comfortable if another team were calling the shots. These guys are too connected with Wall Street. That, I can't argue with. I'd also feel more comfortable, if with the money, new management of these companies was put in place. With all of these disasters, I've heard very few mea culpas from these executives. Can you say denial? |
Out of Control
On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch"
wrote: IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. I agree with this in concept, but the problem is that Citigroup, your one stop banking center, is, in fact and without qualification, too big to fail. The interesting thing is that it's only 20 billion out of the TARP for capital injection - the key is backing the 350 billion in "toxic" assets - which is what the Feds should have done in the first place. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Well, if you want to assign blame, look no further than Robert Rubin and Dick Parsons both high on the Obama economic team. They were largely responsible for Sandy Wiel and Chuck Prince taking on all the risk and making Citi much too big. Vikram Pandit was a victim of this, not the perp. As a side note, I find it really interesting that most of Obama's team is/are recycled Clinton administration players. |
Out of Control
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Out of Control
"Tom Francis - SWSports" wrote in message ... I agree with this in concept, but the problem is that Citigroup, your one stop banking center, is, in fact and without qualification, too big to fail. The interesting thing is that it's only 20 billion out of the TARP for capital injection - the key is backing the 350 billion in "toxic" assets - which is what the Feds should have done in the first place. Listening a little more carefully this morning, it appears the new $20B is coming straight from the Treasury, via FDIC. This is in addition to $25B that had already been bailed via TARP. I don't profess to understand any of this. It's way over my head. But, I have a funny feeling that those in charge of the taxpayer's money don't understand it either and are in way over their heads. Congress demanded transparency and oversight of the issuance of these funds. The official oversight person has still not been appointed. Why isn't Congress oversighting? I know why. "Didn't happen on my watch", "not our job". Merry Christmas and Happy Holidays. Ho, Ho, Ho. Eisboch |
Out of Control
On Mon, 24 Nov 2008 06:41:14 -0500, "Eisboch"
wrote: "Tom Francis - SWSports" wrote in message ... I agree with this in concept, but the problem is that Citigroup, your one stop banking center, is, in fact and without qualification, too big to fail. The interesting thing is that it's only 20 billion out of the TARP for capital injection - the key is backing the 350 billion in "toxic" assets - which is what the Feds should have done in the first place. Listening a little more carefully this morning, it appears the new $20B is coming straight from the Treasury, via FDIC. This is in addition to $25B that had already been bailed via TARP. I don't profess to understand any of this. It's way over my head. But, I have a funny feeling that those in charge of the taxpayer's money don't understand it either and are in way over their heads. Congress demanded transparency and oversight of the issuance of these funds. The official oversight person has still not been appointed. Why isn't Congress oversighting? I know why. "Didn't happen on my watch", "not our job". Merry Christmas and Happy Holidays. Ho, Ho, Ho. These are the times were money is made by those who are smart enough to use their capital wisely. I'm selectively back in after a few years of being out and so far, it's worked well. I'm still keeping most of my powder dry, but so far, so good. It's just another way of playing with numbers. :) |
Out of Control
On Mon, 24 Nov 2008 11:37:00 GMT, Tom Francis - SWSports
wrote: Well, if you want to assign blame, look no further than Robert Rubin and Dick Parsons both high on the Obama economic team. They were largely responsible for Sandy Wiel and Chuck Prince taking on all the risk and making Citi much too big. Vikram Pandit was a victim of this, not the perp. Actually it goes all the way back to Sandy Weill. He's the one who got Citi started down the sub-prime lending road with the acquisition of Associates First Capital in September of 2000. |
Out of Control
On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch"
wrote: Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Trust me on this, you really don't want Citi to fail. It would set off a tidal wave of additional failures that would overwhelm the FDIC and bring world trade to a halt. Excluding the sub-prime nonsense, their basic business model is quite sound. |
Out of Control
On Mon, 24 Nov 2008 08:38:39 -0500, Wayne.B wrote:
On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch" wrote: Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Trust me on this, you really don't want Citi to fail. It would set off a tidal wave of additional failures that would overwhelm the FDIC and bring world trade to a halt. Excluding the sub-prime nonsense, their basic business model is quite sound. I could give a **** less if Citi Group fell on it's ass. If the ""business model" were so good they wouldn't be where they are now and will be again when they get a chance to walk with taxpayer monies. Why trust crooks now? By the way this will always remain "Bush's Crisis" no matter how many fools try to spin it. Only the folks that had no trade or true work ethics starved during the great depression. Let them eat dirt. Learn to speak Chinese and/or Spanish. Perhaps a plan for universal monetary values "world wide" like the Euro but expanded. Perhaps then many will recognize we are a secondary world power or lower after the "Bush Vacation" and "Cronies Administration". Brought on ourselves by invasion of Muslim countries to steal oil as a trade for lives at "their command" because we lacked leadership. We are overdue for some humility as a lesson. Some deserve punishment. Maybe the ultimate form. No apologies accepted. |
Out of Control
"RLM" wrote in message ... Only the folks that had no trade or true work ethics starved during the great depression. Let them eat dirt. Learn to speak Chinese and/or Spanish. Have to go on record here. I don't agree with any of what you just said (above). Eisboch |
Out of Control
Eisboch wrote:
Just read the announcement of the additional government bailout of Citigroup out of the TARP money. Is it just me, or is this whole thing getting totally out of control? I get a kick out of the wording of the statement. Quoting a couple of parts: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued late Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks." Isn't it taxpayer's resources being used? What's this "our resources" stuff? Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Eisboch (frustrated American taxpayer) We have obligated Americans, to pay the massive debts, of Global Corporations. Wall Street's Players are guaranteed their ill gotten gains. They will go home to their estates and roll in our money. Many Americans have/will lose their homes and everything else. They feared letting them fail would esult in Americans failing. That equation is not clear, or at least their debt, at the demand of Global Banking. Americans will lose because in one form or anther we wull have to pay the debts created by Banking gamblers and swindlers. Global Banking and Global Big Business do indeed control American Government. It is ever more clear since Banking has been nationalized Everything the People have told Congress and Government we want has been ignored. All the Transnational, Foreign or Globalists that played Americans for our wealth took home trillions. Those that lost the card game are having their losses covered by us. We have no say in what is being done. They should have bailed out Americans and let the Global gamblers and swindlers fail. There is no move on reform and restoring rule, of law, or protections, for Americans from the predators of Global Banking and Business. The only discussion in the media is preserving the specious game, of Wall Street and the Fed. |
Out of Control
tin cup wrote:
Eisboch wrote: Just read the announcement of the additional government bailout of Citigroup out of the TARP money. Is it just me, or is this whole thing getting totally out of control? I get a kick out of the wording of the statement. Quoting a couple of parts: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued late Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks." Isn't it taxpayer's resources being used? What's this "our resources" stuff? Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Eisboch (frustrated American taxpayer) We have obligated Americans, to pay the massive debts, of Global Corporations. Wall Street's Players are guaranteed their ill gotten gains. They will go home to their estates and roll in our money. Many Americans have/will lose their homes and everything else. They feared letting them fail would esult in Americans failing. That equation is not clear, or at least their debt, at the demand of Global Banking. Americans will lose because in one form or anther we wull have to pay the debts created by Banking gamblers and swindlers. Global Banking and Global Big Business do indeed control American Government. It is ever more clear since Banking has been nationalized Everything the People have told Congress and Government we want has been ignored. All the Transnational, Foreign or Globalists that played Americans for our wealth took home trillions. Those that lost the card game are having their losses covered by us. We have no say in what is being done. They should have bailed out Americans and let the Global gamblers and swindlers fail. There is no move on reform and restoring rule, of law, or protections, for Americans from the predators of Global Banking and Business. The only discussion in the media is preserving the specious game, of Wall Street and the Fed. The bailout LOANS will demand much higher interests, and prices to repay the loans. Higher taxes and profits for the swindlers and in whatever form what is higher taxes for Americans. Anyone got a handle on how much debt we will have to pay over say the next 8 years or perhaps a lifetime? |
Out of Control
On Nov 24, 10:07*am, "Eisboch" wrote:
"RLM" wrote in message ... Only the folks that had no trade or true work ethics starved during the great depression. Let them eat dirt. Learn to speak Chinese and/or Spanish. Have to go on record here. I don't agree with any of what you just said (above). Eisboch Same with me! |
Out of Control
Wayne.B wrote:
On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch" wrote: Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Trust me on this, you really don't want Citi to fail. It would set off a tidal wave of additional failures that would overwhelm the FDIC and bring world trade to a halt. Excluding the sub-prime nonsense, their basic business model is quite sound. , World Trade is defined as American financing debt for China imports, from Global Banking swindlers and loan sharks with unilateral contracts. Americans are denied the protection f Law and the Courts in dealing with Business under Mandatory ?Binding Arbitration clauses. Banking writes the variable contracts and can modify or change any and all terms without Citizens consent. This is Globalism. It is about eliminating America's soverignty. It is about ignoring or rewritting Americans Law protecting Citizens. It is about world government by Business for the wealth and power of what is referred to as the Globabl Ruling Economic Aristocracy. Our Government answers to Wall Street and the Fed. If you are not Corporate you are little People. George Bush said he was a Globalist. This is his "mandate?" |
Out of Control
"Eisboch" wrote in message ... Just read the announcement of the additional government bailout of Citigroup out of the TARP money. Is it just me, or is this whole thing getting totally out of control? I get a kick out of the wording of the statement. Quoting a couple of parts: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued late Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks." Isn't it taxpayer's resources being used? What's this "our resources" stuff? Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Eisboch (frustrated American taxpayer) You got that right. It used to be the norm here...this province wasted billions on an aging steel plant and worked out coal mines until we almost went bankrupt. |
Out of Control
On Nov 24, 10:05*am, RLM wrote:
On Mon, 24 Nov 2008 08:38:39 -0500, Wayne.B wrote: On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch" wrote: Then, the Citi's chief executive officer, Vikram Pandit says, *"We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Trust me on this, you really don't want Citi to fail. * It would set off a tidal wave of additional failures that would overwhelm the FDIC and bring world trade to a halt. *Excluding the sub-prime nonsense, their basic business model is quite sound. I could give a **** less if Citi Group fell on it's ass. If the ""business model" were so good they wouldn't be where they are now and will be again when they get a chance to walk with taxpayer monies. Why trust crooks now? By the way this will always remain "Bush's Crisis" no matter how many fools try to spin it. What everyone seems to forget is that once the feds changed the lending rules, banks had no choice but to grant loans to people that fell within those rules. If they tried to hold their loans to a higher standard, lawyers and the media would have been all over them saying they were discriminating, right? You know it. Three guesses who who profited from it the most in government, and who in government protected the scheme. A lot of the "ill-gotten" profits were just used effectively in an election. And the beat goes on... |
Out of Control
On Mon, 24 Nov 2008 10:05:34 -0500, RLM wrote:
On Mon, 24 Nov 2008 08:38:39 -0500, Wayne.B wrote: On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch" wrote: Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Trust me on this, you really don't want Citi to fail. It would set off a tidal wave of additional failures that would overwhelm the FDIC and bring world trade to a halt. Excluding the sub-prime nonsense, their basic business model is quite sound. I could give a **** less if Citi Group fell on it's ass. If the ""business model" were so good they wouldn't be where they are now and will be again when they get a chance to walk with taxpayer monies. Why trust crooks now? By the way this will always remain "Bush's Crisis" no matter how many fools try to spin it. Only the folks that had no trade or true work ethics starved during the great depression. Let them eat dirt. Learn to speak Chinese and/or Spanish. Perhaps a plan for universal monetary values "world wide" like the Euro but expanded. Perhaps then many will recognize we are a secondary world power or lower after the "Bush Vacation" and "Cronies Administration". Brought on ourselves by invasion of Muslim countries to steal oil as a trade for lives at "their command" because we lacked leadership. We are overdue for some humility as a lesson. Some deserve punishment. Maybe the ultimate form. No apologies accepted. The above is just stupid. -- A Harry Krause truism: "It's not a *baby* kicking, beautiful bride, it's just a fetus!" |
Out of Control
On Mon, 24 Nov 2008 10:23:22 -0500, tin cup wrote:
tin cup wrote: Eisboch wrote: Just read the announcement of the additional government bailout of Citigroup out of the TARP money. Is it just me, or is this whole thing getting totally out of control? I get a kick out of the wording of the statement. Quoting a couple of parts: "With these transactions, the U.S. government is taking the actions necessary to strengthen the financial system and protect U.S. taxpayers and the U.S. economy," the three agencies said in a statement issued late Sunday night. "We will continue to use all of our resources to preserve the strength of our banking institutions, and promote the process of repair and recovery and to manage risks." Isn't it taxpayer's resources being used? What's this "our resources" stuff? Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Congress should reconvene immediately and put a halt to the TARP program. The banana heads running it are loose cannons, operating on their own and should be fired. IMO, there is an overreaction taking place, led by a bunch of ex-wall street suits that have a very narrow view factor of the overall problem. Calmer heads should take over. Let things settle a bit. Tossing billions of dollars to any company that comes along and cries for help isn't the solution. Eisboch (frustrated American taxpayer) We have obligated Americans, to pay the massive debts, of Global Corporations. Wall Street's Players are guaranteed their ill gotten gains. They will go home to their estates and roll in our money. Many Americans have/will lose their homes and everything else. They feared letting them fail would esult in Americans failing. That equation is not clear, or at least their debt, at the demand of Global Banking. Americans will lose because in one form or anther we wull have to pay the debts created by Banking gamblers and swindlers. Global Banking and Global Big Business do indeed control American Government. It is ever more clear since Banking has been nationalized Everything the People have told Congress and Government we want has been ignored. All the Transnational, Foreign or Globalists that played Americans for our wealth took home trillions. Those that lost the card game are having their losses covered by us. We have no say in what is being done. They should have bailed out Americans and let the Global gamblers and swindlers fail. There is no move on reform and restoring rule, of law, or protections, for Americans from the predators of Global Banking and Business. The only discussion in the media is preserving the specious game, of Wall Street and the Fed. The bailout LOANS will demand much higher interests, and prices to repay the loans. Higher taxes and profits for the swindlers and in whatever form what is higher taxes for Americans. Anyone got a handle on how much debt we will have to pay over say the next 8 years or perhaps a lifetime? Keep on writin'! Hell, if you stay in this thread, you could end up with the longest one-man thread in the world. I'll butt out now. -- A Harry Krause truism: "It's not a *baby* kicking, beautiful bride, it's just a fetus!" |
Out of Control
On Mon, 24 Nov 2008 18:40:49 -0500, JohnH wrote:
On Mon, 24 Nov 2008 10:05:34 -0500, RLM wrote: On Mon, 24 Nov 2008 08:38:39 -0500, Wayne.B wrote: On Mon, 24 Nov 2008 03:50:38 -0500, "Eisboch" wrote: Then, the Citi's chief executive officer, Vikram Pandit says, "We appreciate the tremendous effort by the government to assure market stability." Shouldn't he be thanking the American taxpayers? Trust me on this, you really don't want Citi to fail. It would set off a tidal wave of additional failures that would overwhelm the FDIC and bring world trade to a halt. Excluding the sub-prime nonsense, their basic business model is quite sound. I could give a **** less if Citi Group fell on it's ass. If the ""business model" were so good they wouldn't be where they are now and will be again when they get a chance to walk with taxpayer monies. Why trust crooks now? By the way this will always remain "Bush's Crisis" no matter how many fools try to spin it. Only the folks that had no trade or true work ethics starved during the great depression. Let them eat dirt. Learn to speak Chinese and/or Spanish. Perhaps a plan for universal monetary values "world wide" like the Euro but expanded. Perhaps then many will recognize we are a secondary world power or lower after the "Bush Vacation" and "Cronies Administration". Brought on ourselves by invasion of Muslim countries to steal oil as a trade for lives at "their command" because we lacked leadership. We are overdue for some humility as a lesson. Some deserve punishment. Maybe the ultimate form. No apologies accepted. The above is just stupid. I accept the compliment from an idiot that only follows others. Shame you never have an original thought, but years of having decisions made for you cripple your thought process. |
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