Comments on: Politics + Economics = Armageddon http://www.bankaholic.com/financial-armageddon/ Compare the Best CD (Certificate of Deposit) Rates, Highest Money Market Rates, Best Savings Accounts, Bank Deals, Interest Rates and Bank Reviews! Fri, 20 Nov 2009 16:50:23 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Debbie http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-151300 Debbie Sun, 28 Dec 2008 06:07:31 +0000 http://www.bankaholic.com/?p=653#comment-151300 Hah> This is not a made up comment. Hah> This is not a made up comment.

]]> By: Jane Yo http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-143555 Jane Yo Thu, 13 Nov 2008 22:48:56 +0000 http://www.bankaholic.com/?p=653#comment-143555 Johns Wu playing the political blame game? Try sticking to $$$ and not politics. Or you might lose this reader. Johns Wu playing the political blame game? Try sticking to $$$ and not politics. Or you might lose this reader.

]]> By: how http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-140064 how Fri, 24 Oct 2008 19:34:52 +0000 http://www.bankaholic.com/?p=653#comment-140064 www fakepaycheckstub com Need Proof of Income? Make Fake Pay Check Stubs Here! Create Free Sample Paycheck Stub Template www fakepaycheckstub com Need Proof of Income? Make Fake Pay Check Stubs Here! Create Free Sample Paycheck Stub Template

]]> By: Marc http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-138583 Marc Sun, 19 Oct 2008 18:35:22 +0000 http://www.bankaholic.com/?p=653#comment-138583 Thank you, Johns Wu, for providing us with a perfect example of the insane, screeching, short-sighted rhetoric full of lies and convenient half-truths that spew out of the mouths of conservatives when they are pretending to be apolitical. Let's review, shall we? In Act 1, a terrible plan reaches Congress that economists almost universally despise. In Act 2, Congress rejects said plan. In Act 3, some loopy dude writes about Armageddon on his blog and does the whole Chicken Little thing. Then in Act 4 (a few days later), Congress passes a plan that many economists like a lot better than the first one. Perhaps Act 5 will consist of the aforementioned loopy dude realizing that someone DID screw up in this tale, but it wasn't Congress. Or maybe you think those days made all the difference? Thank you, Johns Wu, for providing us with a perfect example of the insane, screeching, short-sighted rhetoric full of lies and convenient half-truths that spew out of the mouths of conservatives when they are pretending to be apolitical. Let’s review, shall we? In Act 1, a terrible plan reaches Congress that economists almost universally despise. In Act 2, Congress rejects said plan. In Act 3, some loopy dude writes about Armageddon on his blog and does the whole Chicken Little thing. Then in Act 4 (a few days later), Congress passes a plan that many economists like a lot better than the first one. Perhaps Act 5 will consist of the aforementioned loopy dude realizing that someone DID screw up in this tale, but it wasn’t Congress. Or maybe you think those days made all the difference?

]]> By: Frank Cerasuolo,MD http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-137747 Frank Cerasuolo,MD Thu, 16 Oct 2008 02:48:20 +0000 http://www.bankaholic.com/?p=653#comment-137747 Because profit is "privatized" and debt is "socialized" the bailout is really corporate welfare. It can be more accurately seen as socialism for the wealthy who will put it in their pockets and throw a party. Because profit is “privatized” and debt is “socialized” the bailout is really corporate welfare.
It can be more accurately seen as socialism for the wealthy who will put it in their pockets and throw a party.

]]> By: Frank Cerasuolo,MD http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-137745 Frank Cerasuolo,MD Thu, 16 Oct 2008 02:38:22 +0000 http://www.bankaholic.com/?p=653#comment-137745 While it is true that profit is "privatized" and debt is "socialized" the bailout is another example of corporate welfare. If one insists on referring to it as socialism then it is socialism for the wealthy who took the money and had a party. While it is true that profit is “privatized” and debt is “socialized” the bailout is another example of corporate welfare.
If one insists on referring to it as socialism then it is socialism for the wealthy who took the money and had a party.

]]> By: Anitra Gordon http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-136992 Anitra Gordon Mon, 13 Oct 2008 20:02:11 +0000 http://www.bankaholic.com/?p=653#comment-136992 Paulsen did not have the best idea. Gordon Brown of England has the policy now seconded by Nobel Economics winner Krugman. Finally, Paulsen has changed the plan so it resembles the British plan. He originally offered a 3 page document...What an insult. Read Krugman's NY Times column today, you can get it online. Paulsen did not have the best idea. Gordon Brown of England has the policy now seconded by Nobel Economics winner Krugman. Finally, Paulsen has changed the plan so it resembles the British plan. He originally offered a 3 page document…What an insult. Read Krugman’s NY Times column today, you can get it online.

]]> By: James http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-135925 James Thu, 09 Oct 2008 21:06:02 +0000 http://www.bankaholic.com/?p=653#comment-135925 Look at what happened to the market AFTER this so called bailout passed It crashed even further. Companies come and go. Profits are made and lost. This is the free market. It is not the role of the government to decide who wins and loses and by how much. The bailout will be funded by selling Treasury Bonds and increasing the national debt -- basically borrowing from the future. This will increase foreign holdings of our debt as well as increase interest payments. The estimate on interest payments is $35 billion per year in additional interest payments. Folks, the US Government does not have $700 Billion. The party is eventually going to be over as the dollar is devalued and our country becomes a 2nd or 3rd rate power. Big trouble is ahead for our children. Look at what happened to the market AFTER this so called bailout passed It crashed even further. Companies come and go. Profits are made and lost. This is the free market. It is not the role of the government to decide who wins and loses and by how much. The bailout will be funded by selling Treasury Bonds and increasing the national debt — basically borrowing from the future. This will increase foreign holdings of our debt as well as increase interest payments. The estimate on interest payments is $35 billion per year in additional interest payments. Folks, the US Government does not have $700 Billion. The party is eventually going to be over as the dollar is devalued and our country becomes a 2nd or 3rd rate power. Big trouble is ahead for our children.

]]> By: Dan http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-134200 Dan Fri, 03 Oct 2008 19:54:34 +0000 http://www.bankaholic.com/?p=653#comment-134200 I find it interesting when people who claim to be free market advocates are only that way when the markets are showing positive results or are "working" the way they want. But there is a flip side to free markets. We're seeing that now. A true free market thinker will advocate that the markets do what they will do and those caught on the short side suffer the consequences. The argument that the bailout is a necessary evil, just doesn't hold water if you feel capitalism and the free market system is the best one. Let the chips fall where they may. The market will work itself out and the country will emerge stronger than ever. But now, we just put an expensive bandaid on a wound that will not be healed by applying a bandaid. We're going to regret this bailout. Big time. I find it interesting when people who claim to be free market advocates are only that way when the markets are showing positive results or are “working” the way they want. But there is a flip side to free markets. We’re seeing that now. A true free market thinker will advocate that the markets do what they will do and those caught on the short side suffer the consequences. The argument that the bailout is a necessary evil, just doesn’t hold water if you feel capitalism and the free market system is the best one. Let the chips fall where they may. The market will work itself out and the country will emerge stronger than ever. But now, we just put an expensive bandaid on a wound that will not be healed by applying a bandaid. We’re going to regret this bailout. Big time.

]]> By: Ajith http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-134072 Ajith Fri, 03 Oct 2008 10:33:41 +0000 http://www.bankaholic.com/?p=653#comment-134072 I was a first time visitor and this post was enough to convince me not to revisit. Author is all up for not interfering with markets but is rooting for the government to put in money! That is a contradiction you cannot forgive. Anyway my personal view is that 700Bn will get sucked into a black hole and won't change anything at all! Stock market will recover somewhat but the long term confidence is now shattered unless we regulate the investment banking sector somewhat. I always say that free market applies to trade able goods and commodities but NOT the banks. Because it allows them to play with money which doesn't belong to them and F' it up for everyone. I was a first time visitor and this post was enough to convince me not to revisit. Author is all up for not interfering with markets but is rooting for the government to put in money! That is a contradiction you cannot forgive.
Anyway my personal view is that 700Bn will get sucked into a black hole and won’t change anything at all! Stock market will recover somewhat but the long term confidence is now shattered unless we regulate the investment banking sector somewhat. I always say that free market applies to trade able goods and commodities but NOT the banks. Because it allows them to play with money which doesn’t belong to them and F’ it up for everyone.

]]> By: AverageJoe http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133993 AverageJoe Fri, 03 Oct 2008 04:11:21 +0000 http://www.bankaholic.com/?p=653#comment-133993 I think the stock market and housing prices are still too HIGH, and there are still too many crappy bank like WaMu out there. We should just let them die instead of wasting our taxpayer money. NO BAILOUT ! I think the stock market and housing prices are still too HIGH, and there are still too many crappy bank like WaMu out there. We should just let them die instead of wasting our taxpayer money. NO BAILOUT !

]]> By: Roberta http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133835 Roberta Thu, 02 Oct 2008 17:15:25 +0000 http://www.bankaholic.com/?p=653#comment-133835 I don't want them to pass the Bailout Bill...they should be ashamed of themselves, forcing taxpayers to pay for the mistakes of Wall Street. CEOs get their golden parachutes and us normal citizens have to worry about where the next dollar is coming from. Insane. If they pass this bill, they deserve not to get re-elected because the normal average everyday person does NOT WANT THIS. I don’t want them to pass the Bailout Bill…they should be ashamed of themselves, forcing taxpayers to pay for the mistakes of Wall Street. CEOs get their golden parachutes and us normal citizens have to worry about where the next dollar is coming from. Insane. If they pass this bill, they deserve not to get re-elected because the normal average everyday person does NOT WANT THIS.

]]> By: ANDREW http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133802 ANDREW Thu, 02 Oct 2008 15:12:11 +0000 http://www.bankaholic.com/?p=653#comment-133802 FOLKS, THE FLEECING OF AMERICA STARTED YEARS AGO, ITS JUST NOW BEGINNING TO SHOW ITS UGLY HEAD. GIVING FREE HOMES TO EVERYONE THAT DID NOT DESERVE A HOME, THE REST OF US IS PAYING FOR THEIR HOMES. FOR THE VERY PEOPLE THAT DON;T WORK.. THE RANGELS, MAXINE WATERS, BARNEY FRANKS, DODD THE DE-O-CRATES. I HAVE NEIGHBORS THAT GOT NEW HOMES, THEY DON'T MOW THEIR LAWNS, THEY HAVE JUNK EVERYWHERE. THE NEIGHBORHOOD HAS GONE TO TRASH. NOW WHICH IS BEST FOR THE NEIGHBORHOOD. RESALE THE HOMES OR LEAVE THE TRASH WHERE IT IS,, NOW THE GOVERNMENT IS STILL PUSHING HOME SALES WITH NOTHING DOWN. I HAVE A 1930 HOME, WHICH I PAID FOR AS A SINGLE MOTHER. WORKED TWO JOBS AND WENT TO SCHOOL AT THE SAME TIME. GOVERNMENT HAS NEVER PAID BE A DIME. I HAVE BEEN UNEMPLOYED AND DID NOT DRAW FROM THE GOVERNMENT. IT USE TO BE A DISGRACE TO ALLOW THE GOVERNMENT TO KEEP YOU UP. MY GRANDFATHER WOULD NOT ACCEPT SOCAL SECURITY. HE CONSIDERED IT WEL-FARE. WE HAVE NO SHAME ANYMORE. IF WE HAD ALL THE BILLIONS OF DOLLARS THE WALL STREET WALKED AWAY WITH, IT WOULD JUST ABOUT PAY FOR THE BAILOUT. ADD UP JUST A FEW, START WITH FRANK RAINES, FRED AND FANNIE CEO, $90 MILLION, 162, 105,56, 44,42,24,19,16,13,9,8,22, THESE ARE MILLION DOLLARS CEO'S THAT WALKED AWAY TO THE GOLF GLUBS. "HOW CAN SOMEONE WHO BLOWS A BILLION DOLLARS ON A POLITICAL CAMPAIGN BE FISCALLY RESPONSIBLE"? NEED I SAY MORE. FOLKS, THE FLEECING OF AMERICA STARTED YEARS AGO, ITS JUST NOW BEGINNING TO SHOW ITS UGLY HEAD. GIVING FREE HOMES TO EVERYONE THAT DID NOT DESERVE A HOME, THE REST OF US IS PAYING FOR THEIR HOMES. FOR THE VERY PEOPLE THAT DON;T WORK..
THE RANGELS, MAXINE WATERS, BARNEY FRANKS, DODD THE DE-O-CRATES.
I HAVE NEIGHBORS THAT GOT NEW HOMES, THEY DON’T MOW THEIR LAWNS, THEY HAVE JUNK EVERYWHERE. THE NEIGHBORHOOD HAS GONE TO TRASH. NOW WHICH IS BEST FOR THE NEIGHBORHOOD. RESALE THE HOMES OR LEAVE THE TRASH WHERE IT IS,, NOW THE GOVERNMENT IS STILL PUSHING HOME SALES WITH NOTHING DOWN. I HAVE A 1930 HOME, WHICH I PAID FOR AS A SINGLE MOTHER. WORKED TWO JOBS AND WENT TO SCHOOL AT THE SAME TIME. GOVERNMENT HAS NEVER PAID BE A DIME. I HAVE BEEN UNEMPLOYED AND DID NOT DRAW FROM THE GOVERNMENT. IT USE TO BE A DISGRACE TO ALLOW THE GOVERNMENT TO KEEP YOU UP. MY GRANDFATHER WOULD NOT ACCEPT SOCAL SECURITY. HE CONSIDERED IT WEL-FARE. WE HAVE NO SHAME ANYMORE.
IF WE HAD ALL THE BILLIONS OF DOLLARS THE WALL STREET WALKED AWAY WITH, IT WOULD JUST ABOUT PAY FOR THE BAILOUT. ADD UP JUST A FEW, START WITH FRANK RAINES, FRED AND FANNIE CEO, $90 MILLION, 162, 105,56, 44,42,24,19,16,13,9,8,22, THESE ARE MILLION DOLLARS CEO’S THAT WALKED AWAY TO THE GOLF GLUBS.
“HOW CAN SOMEONE WHO BLOWS A BILLION DOLLARS ON A POLITICAL CAMPAIGN BE FISCALLY RESPONSIBLE”?
NEED I SAY MORE.

]]> By: DOUG http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133790 DOUG Thu, 02 Oct 2008 14:42:10 +0000 http://www.bankaholic.com/?p=653#comment-133790 FOR YOU YOUNG PEOPLE WHO HAVE NEVER EXPERIENCED ANYTHING IN LIFE, BUT SCHOOL. I SOLD A HOME IN 1979 AT A GREAT LOSS. THEN TURNED AROUND AND BOUGHT A HOME AT %10. THIS WAS A HAVE TO SITUATION. ALL THE BULL ON WALL STREET, WITH GAMBLING OUR FUTURE AND FUTURE GENERATIONS OF AMERICANS. SHORT SELLING, HEDGE FUNDS, AND ALL THE OTHER GET RICH PLANS. HAS DESTROYED AMERICA. YOUNG PEOPLE IT WILL GET MUCH WORSE. EVERYONE IN WASHINGTON NEEDS TO BE PACKING THEIR BAGS, ALONG WITH WALL STREET. WE ONLY HAVE ONE CHANCE TO SAVE AMERICA AND THAT IS TO VOTE FOR ONE PERSON THAT LOVES AMERICA AND SERVED IT WELL. CAME BACK TO WASHINGTON TO HELP WITH THE CRISES. HE AGAIN PUT HIMSELF LAST AND AMERICA FIRST. WAKE UP AMERICA. FOR YOU YOUNG PEOPLE WHO HAVE NEVER EXPERIENCED ANYTHING IN LIFE, BUT SCHOOL.
I SOLD A HOME IN 1979 AT A GREAT LOSS. THEN TURNED AROUND AND BOUGHT A HOME AT %10. THIS WAS A HAVE TO SITUATION.

ALL THE BULL ON WALL STREET, WITH GAMBLING OUR FUTURE AND FUTURE GENERATIONS OF AMERICANS. SHORT SELLING, HEDGE FUNDS, AND ALL THE OTHER GET RICH PLANS. HAS DESTROYED AMERICA. YOUNG PEOPLE IT WILL GET MUCH WORSE.
EVERYONE IN WASHINGTON NEEDS TO BE PACKING THEIR BAGS, ALONG WITH WALL STREET.
WE ONLY HAVE ONE CHANCE TO SAVE AMERICA AND THAT IS TO VOTE FOR ONE PERSON THAT LOVES AMERICA AND SERVED IT WELL. CAME BACK TO WASHINGTON TO HELP WITH THE CRISES. HE AGAIN PUT HIMSELF LAST AND AMERICA FIRST.
WAKE UP AMERICA.

]]> By: Johns Wu http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133786 Johns Wu Thu, 02 Oct 2008 14:37:54 +0000 http://www.bankaholic.com/?p=653#comment-133786 Craig, Thanks for the support! Craig,
Thanks for the support!

]]> By: Bob http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133779 Bob Thu, 02 Oct 2008 14:11:53 +0000 http://www.bankaholic.com/?p=653#comment-133779 The people who legislated this crises are now going to come up with the solution? I doubt it. And while everyone is discussing executive compensation nobody talks about forcing the RNC and DNC to forfeit every campaign contribution from Wall Street firms, banks and financial services PACs. Nobody talks about cutting politicians compensation or benefits. Phil Gramm and the pimp he calls a wife are walking around free when they should be being water-boarded twice a day. Choose not to see what you don't want to see...but the end is near. The people who legislated this crises are now going to come up with the solution? I doubt it. And while everyone is discussing executive compensation nobody talks about forcing the RNC and DNC to forfeit every campaign contribution from Wall Street firms, banks and financial services PACs. Nobody talks about cutting politicians compensation or benefits. Phil Gramm and the pimp he calls a wife are walking around free when they should be being water-boarded twice a day. Choose not to see what you don’t want to see…but the end is near.

]]> By: You may be right, but... http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133552 You may be right, but... Wed, 01 Oct 2008 20:53:33 +0000 http://www.bankaholic.com/?p=653#comment-133552 Um, why is Nancy Pelosi "a hippie"...? Sounds like you're the one mixing politics and economics. Um, why is Nancy Pelosi “a hippie”…? Sounds like you’re the one mixing politics and economics.

]]> By: joe http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133471 joe Wed, 01 Oct 2008 15:47:13 +0000 http://www.bankaholic.com/?p=653#comment-133471 CRAIG,YOU ARE RIGHT. I WAS THINK...200,000,000 US CITIZENS X 1 MILLION DOLLARS !!!! WHICH SHOULD OF COURSE BE : 200,000,000 US CITIZENS X $1,000,000 = $ 200,000,000,000,000 ( 200 TRILLION) IT JUST GOES TO SHOW HOW LARGE THE NUMBERS ARE;THAT ITS HARD TO EVEN GET YOUR MIND AROUND HOW MUCH MONEY WE ARE TALKING ABOUT !!!!! CRAIG,YOU ARE RIGHT. I WAS THINK…200,000,000 US CITIZENS X 1 MILLION DOLLARS !!!! WHICH SHOULD OF COURSE BE : 200,000,000 US CITIZENS X $1,000,000 = $ 200,000,000,000,000 ( 200 TRILLION) IT JUST GOES TO SHOW HOW LARGE THE NUMBERS ARE;THAT ITS HARD TO EVEN GET YOUR MIND AROUND HOW MUCH MONEY WE ARE TALKING ABOUT !!!!!

]]> By: Craig http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133236 Craig Tue, 30 Sep 2008 23:52:14 +0000 http://www.bankaholic.com/?p=653#comment-133236 Joe had an idea above, but he missed a few digits in his thought process. There are many more than 200 people in the US, Joe. 200 million people, each given 1 million dollars, doesn't add up to 200 million but to 200 trillion (a few dollars more than the current crisis entails, no?). Joe had an idea above, but he missed a few digits in his thought process. There are many more than 200 people in the US, Joe. 200 million people, each given 1 million dollars, doesn’t add up to 200 million but to 200 trillion (a few dollars more than the current crisis entails, no?).

]]> By: Craig http://www.bankaholic.com/financial-armageddon/comment-page-1/#comment-133206 Craig Tue, 30 Sep 2008 21:48:46 +0000 http://www.bankaholic.com/?p=653#comment-133206 Eugene, Anytime I read a link or an article, I try to see what the context of the preson who is writing it is speaking from. I looked at the conferences they sponsor, and they seem to have an interest in hedge funds and venture capitalization. http://www.rgemonitor.com/component/option,static/inc,events/Itemid,114/ In my opinion, it is these types of risky leveraged strategies that have caused part of the problem, and that these types of investment have a huge interest in how this issue is resolved. Here are some of the conferences they sponsor: Hedge 2008 "The World's Finest Hedge Fund Conference" Victoria Park Plaza, London October 23, 2008 GAIM 2008 Fund of Funds The Largest gathering of Fund of Hedge Funds and their investors in the world Grand Hyatt, New York City October 28, 2008 Gaim International Fund of Funds Europe's only fund of hedge funds conference Intercontinental Geneva Hotel, Switzerland November 13, 2008 Private Equity, Venture Capital & Institutional Investment Summit Private Equity, Venture Capital & Institutional Investment Summit Westin Hotel, Paris November 20, 2008 I thought MarkPDS's link was more informative, but the article was writtten before the congress came to a joint compromise yesterday, so I am not sure if some of the issues they brought up are addressed. Eugene,

Anytime I read a link or an article, I try to see what the context of the preson who is writing it is speaking from. I looked at the conferences they sponsor, and they seem to have an interest in hedge funds and venture capitalization.

http://www.rgemonitor.com/component/option,static/inc,events/Itemid,114/

In my opinion, it is these types of risky leveraged strategies that have caused part of the problem, and that these types of investment have a huge interest in how this issue is resolved.

Here are some of the conferences they sponsor:

Hedge 2008
“The World’s Finest Hedge Fund Conference”
Victoria Park Plaza, London
October 23, 2008

GAIM 2008 Fund of Funds
The Largest gathering of Fund of Hedge Funds and their investors in the world
Grand Hyatt, New York City
October 28, 2008

Gaim International Fund of Funds
Europe’s only fund of hedge funds conference
Intercontinental Geneva Hotel, Switzerland
November 13, 2008

Private Equity, Venture Capital & Institutional Investment Summit
Private Equity, Venture Capital & Institutional Investment Summit
Westin Hotel, Paris
November 20, 2008

I thought MarkPDS’s link was more informative, but the article was writtten before the congress came to a joint compromise yesterday, so I am not sure if some of the issues they brought up are addressed.

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