bloomberg.com:
Aug. 28 (Bloomberg) -- Banks are increasing lending to buyers of high-yield company loans and mortgage bonds at what may be the fastest pace since the credit-market debacle began in 2007.
Arianna Huffington: Has Obama's Handling of the Bank Bailout Undermined Health Care Reform?
If we don't learn from the botched bank bailout, we are in danger of getting the same patchwork, reform-in-name-only outcome on health care.
Lee C. Bollinger: New York: Media Capital 2.0
Like Wall Street, many of our traditional media companies are shedding jobs while the new media and technology sector is growing ... unfortunately, mostly outside of New York City.
Leverage Rising on Wall Street at Fastest Pace Since ‘07 Freeze - Bloomberg.c...
Leverage Rising on Wall Street at Fastest Pace Since ‘07 Freeze - Bloomberg.c...
Wall St's paying for reliance on excessive leverage and pay - Mar ...
Blowing up the Lab on Wall Street - TIME
Squandered Honeymoon: How Botched Bailouts Hamper Healthcare Reform
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The fed need to borrow the cheap money directly to bussinesses and consumers before is tooooo late, the banks are looking for profit and the economy in main street is suffering, If the banks increase fees and rates the economy of most of consumers is going to colapse, They need to understand that IS NOT time to be looking for marvelous profits, IT'S TIME FOR A RATIONAL CAPITALISM AND TRY TO HELP CONSUMERS TO SURVIVE, NOT TO TERMINATE THEM.
50% OF THE SOLUTION TO THE ECONOMY IS BORROW TO CONSUMERS WITH ZERO INTEREST.
FED BERNANKE AND CONGRESS;
OPEN YOUR EYES!!!!!
DO YOUR JOB!!!!!, HELP THE ECONOMY!!!!
PROTECT CONSUMERS AND IN THIS WAY YOU CAN SAVE THE ECONOMY!!!!!
BORROW THEM THE CHEAP MONEY!!!!
BEFORE IS TOOOO LATE
YOU CAN SAVE THE MOTOR OF THE ECONOMY (THE CONSUMER) IN THIS WAY
The American people have been robbed blind and now the special interests are coming back to the trough for another feeding. This was all created by "conservative" economics and they are the failed ideals that are still in charge. This was created no differently than the depression or the repeated financial collapses that plagued this nation from after the civil war until the new deal. The disgusting part is not that it was done again but the stupidity of those who allowed the laws that protected us from it for so long to be repealed and the ignorance of those screaming socialism at those who would fix it. Not a single one of those who aided the insanity have been called out for it. In fact quite the opposite the same agents who created the problem are those plastered across the media explaining away their part in it. Explaining away how the rules or removal of rules that allowed the systematic destruction of this nation weren't wrong and still aren't.
The boom was based on easy credit, not savings. Correct me if I'm wrong, but that's a house of cards and cannot be good for the consumer slave. Of course the people at the top don't care, they're the ones making billions off interest.
Isn't this the way a fading Ponzi Scheme works? It requires more and more money pumped in at the bottom to keep the scam from collapsing? 2010 should be interesting because this game isn't sustainable.
next month.....
“I am surprised by how quickly the market has become receptive to leverage again,” said Bob Franz, the co-head of syndicated loans in New York at Credit Suisse."
I'm not. Since the Obama team gave them all our money with no strings attached, why wouldn't they revert to type. Get ready for the next "shock"
Great article in The Nation:
The Deification of Gentle Ben
"When and if recovery does develop, he will be under intense pressure from financial interests to put on the brakes and head off any threat of inflation. The chorus of "hard money" advocates is already singing that siren song: raise interest rates before the economy gets too healthy."
So, there ya go........
http://www
I think it's time we boycott Wall Street. How does January sound?
http://cle
One of the best ways to scuttle reforms in the financial industries and health care is to cause another bust. The distraction would literally stop everything again. By design, yes.
This is a killer. It's been around awhile - but it still applies today. Keep all quotes from the 'experts' of late. Hold onto them.
1927-1933 Chart of Pompous Prognosticators:
http://www
My favorite:
"All safe deposit boxes in banks or financial institutions have been sealed…
and may only be opened in the presence of an agent of the I.R.S."
- President F.D. Roosevelt, 1933
Better take heed......
We were shocked last year by news of their 500 to 1 hidden leverage schemes.
Now that they have unlimited stimulus money (our kids future taxes) they do their schemes in the open. It won't stop until the bailout funds are stopped.
Rising leverage?
Wall Street owns our lawmakers and executive branch.
They bluffed our fear of 'world economic collapse' vs. unlimited bailout funding and unprecidented access and influence.
We folded. Wall Street won.
The business of America is business.
Of course this is going to happen again. How many of the thousands of brokers and bankers who made millions on the backs of the previous ride up were ever held accountable for the collapse? None. So why would these same people and their ilk not leverage again? They get paid annual bonuses on what they lend and the points they and their companies make on the transactions, so as long as the crash doesn't happen before they get their bonus, why would they care? The solution is to make bonuses dependent on the health of the company several years down the road when these loans are being paid, or not, and the packaged loan values are being realized. If bankers understand that their actions have to keep the company profitable in order for them to get a big payday several years down the road, this stuff would not be happening. Of course they would also all probably move along to the next legal ponzi or get rich quick scheme, which I'm sure is the argument (without the part about ponzie schemes) that Geithner made to keep this admin from doing anything that sensible.
It should come as a surprise to no one that, given the opportunity for financial crime to "get bigger," it will do so ... and without limit. A swindle involving hundreds of trillions of dollars is simply "not enough."
More than anything else at all, this should remind us what a monstrous crime "bribery" is. Why our Constitution lists it alongside "treason" as the only two high crimes it specifically mentions.
OK when ise Barrack going to stop this stuff, if he dosn't get control of these MBA we are all going to be out of a job. Someone needs to put spitzer back in there and give him the power to kick some serious rear ends. since spitzer left no one, no one. Someone Barry needs to step up ..........
Barry needs to step up and stop giving them money.
He won't, he works for them..not you. They can pay him millions..
Sometimes when I read these kinds of stories, not only do I add them to my blog, but I copy them to my congressman and senators and say WTF!
Why have we not brought back Glass-Steagall? Where is the banking reform that should have happened after the crash. When will congress be able to do more than one thing at once. Can't you hold a healthcare meeting today and a finance meeting tomorrow, Sen Baucus? Or is that asking too much? Come on Barney, get something done! O man, make a stand. Use the bully pulpit. Where the hell is Teddy Roosevelt when you need him?
This looks a lot like a tipping point.
If the newly rekindled love of risk is accompanied by a refined sense of the price of risk, then we may be getting airborne.
If not, september 2009 will be very interesting. Like september 2008.
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First Posted: 08-28-09 02:42 PM | Updated: 08-28-09 02:49 PM