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Andy17
I'm looking for the joke with a microscope
02:52 PM on 01/13/2011
When the investors flee like rats on a sinking ship, you know it's. bad.

I don't know about other 'progressives' like me, but I still cannot forgive
Obama for bailing out the banks any doing almost nothing for regular people.

The bottom line is that when rich people make investments that go bad,
they have the power to get the taxpayers to cover their losses.

This time they got 100 cents on the dollar. How fantastic for them.
They don't have to take even 1 per cent responsibility for their
own bad business decisions.

But the people losing jobs, healthcare, and their homes,
there isn't any 100 cents on the dollar for them.
There isn't even 2 cents on the dollar for them.

I can't vote for somebody who sided with the banks instead of these people in need.
03:46 PM on 01/13/2011
F&F. I couldn't agree with you more. I consider myself an independent voter, and after watching "Capatilism: a love story" last night, I now realize that Obama is just a tool for Goldman Saches. Cities are bankrupt and full of empty houses; this guy couldn't care less.

Plutocracy anyone?
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jspkim
11:47 PM on 01/13/2011
f&f if you have a chance , watch "Inside Job" an excellent documentary film.
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LynnW49
"A great democracy must be progressive." TR
06:20 PM on 01/13/2011
The continuity with Bush's economic policies is astonishing.

I'm with you.
02:45 PM on 01/13/2011
It's nothing like pointing out the obvious and calling it news....
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MrOctober
Meet the new boss, same as the old boss
02:07 PM on 01/13/2011
How will Jamie Dimon's prediction that recessions 'just happen' every 5 to 7 years come true, when this recession will still be going 5 years from now?
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LynnW49
"A great democracy must be progressive." TR
06:20 PM on 01/13/2011
Or longer.
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Carolab
Just another hostage of the poopy heads
01:59 PM on 01/13/2011
Beware the hounds of credit on a short leash
By Daniel Coffey
Thursday, January 6, 2011

The peculiar power of the CDS has now been unlocked, plumbed and appreciated. Consider this: If some people have a significant profit incentive to vigorously attack or undermine the creditworthiness of cities, counties and states, a formula for chaotic strife is revealed; but, in chaos there is profit. Might not CDS's be profitably applied to sovereign debt or municipal bonds?

Applied to municipal bonds, the CDS tool or its ilk might wreak true disaster at a national scale by creating incentives for short sellers to profit in ways not previously imagined.

How might this occur? I feel compelled to avoid too detailed a schematic of such an approach.

However, first, find someone to take the other side of the right bet for a relatively small price (bonds are often insured), and hope for or make the market price for municipal bonds fall.

A potential Achilles' heal of governments is the annual employer pension obligation, sensitive as they are to "discount rates" or earnings on investment projected out 20 or 30 years, and which are used to calculate present annual payments to be made from the government's general fund to the pension plans. Hence, see the Nunes-Issa-Ryan legislation discussion above.

What if America prevented CDS's from functioning by stepping in to insure, guarantee or prop up government bond prices, once attacked? After artificially increasing the apparent obligations of public pensions through his proposed legislation, here's what Congressman Nunes offers as a sound-bite: "Congress must preempt this effort by making a clear policy statement that the American taxpayer will not bailout state and local governments that have recklessly promised unaffordable benefits to their workers." Set 'em up, and knock 'em down!

Yes, America, we can bail out AIG for absurd Wall Street bets, but government employees shall suffer the loss if anything goes wrong. Best of all, short sellers of municipal bonds may well enjoy another payday.

The Hounds of Credit are best watched closely and kept on a tight leash.

http://www.sddt.com/Commentary/article.cfm?Commentary_ID=176&SourceCode=20110106tza
01:22 PM on 01/13/2011
Tell us something we don't already know!
01:22 PM on 01/13/2011
This member of the cabal which is partially responsible for this fiasco is long on hand wringing an devoid of solutions. It is similar to sticking a pole into a fire ant nest and stirring it about then standing back and watching the mayhem with no way to control the chaos. He appears as a somewhat interested observer and as one who is above the fray. If he was more than an apologist he would at least throw some support to the banking reform efforts.
Next we shall see corporate leaders vexing over the fact that foreign nationals no longer que up to be guest workers.
01:01 PM on 01/13/2011
JP Morgan Chase CEO issues warning on US municipal bankruptcies.

.....and in related news, Gen. Curtis LeMay reports that Japanese cities are looking a little shabby......
12:40 PM on 01/13/2011
This is what Republicans did to this country.

Don't make the mistake of voting Republican ever again.
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jspkim
01:06 PM on 01/13/2011
Unless u get out of the 2 corporate party system,
Unless you realize that bot R and D are playing good cop/bad cop game to fool you.
nothing will change.
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jerzygurl
01:10 PM on 01/13/2011
MY oh my.....A $$$Trillion p*ssed away to stimulate the economy but the only result was a 2.5% increase in unemployment. Pushed for & passed by the Obama Administrations & Dems in Congress.
You have a selective memory.
12:22 PM on 01/13/2011
Thanks for the warning buddy, especially after your buddies help get us where we are today,..".pre-ciate it!"
12:09 PM on 01/13/2011
Why is this surprising.

Investment bankers know that America is in free fall, they helped start that process.
12:02 PM on 01/13/2011
From the illuminatis mouth to your ears....... At least they let us know what type of chaos they plan on bringing next by making 'predictions".....
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nfatt1
Liberty, Equality, Fraternity
11:51 AM on 01/13/2011
Thank you republican " Tax Cuts ".
11:42 AM on 01/13/2011
I'm thinking...the people who run our financial world be they elected officials, appointed officials or hired appointments such as CEO's have come up with even more ways to screw us into submission. I hope their real proud Americans for doing their part in bringing down what used to be the finest country in the world...good job guys.
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Paul Sta
11:37 AM on 01/13/2011
Somehow banksters will profit from the failure of municipals, credit default municipal bonds?
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Paul Sta
11:35 AM on 01/13/2011
Wow is Dimon a moderator of this forum?? I have tried to post 3 times yesterday, none made it through.