Get The Rubber Room Ready - Paulson [Ticker]

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Get The Rubber Room Ready - Paulson in forum [Ticker]

Genesis
Posts: 66463
Incept: 2007-06-26

Royal Flush!

http://market-ticker.org/archives/706-Ge....

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me

2009-01-02 20:08:54

Chumley
Posts: 22
Incept: 2008-12-30
The Great Northeast

Last modified: 2009-01-02 20:18:49 by chumley
Reason: screwed up my first post

2009-01-02 20:15:14

Chumley
Posts: 22
Incept: 2008-12-30
The Great Northeast

OOPS, sorry about that. I wanted my first post to be a thank you to Mr. Denninger. I have lurked here for a while and thanks to the commentary from KD and many prescient posters I pulled my money out of the market back in July 2007. You people saved me much money and I am very thankful.

2009-01-02 20:18:13

Widgeon
Posts: 5672
Incept: 2007-08-30

OK
Online

Nice Ticker.

I will be very unhappy when there is no justice for Paulie ... also throw in the rest of his ilk.

2009-01-02 20:27:55

Stonedog
Posts: 1068
Incept: 2008-05-29

New Jersey

Quote:

And as for "containment", my recommendation is a nice Federal Prison - 50 years worth should be about right - we'll keep the bones on display as a warning to future similar malodorous slime if you aren't breathing for the duration.

How about that facility in New Mexico (I think) where they were going to deposit nuclear waste. Compared to Paulson and Bernanke, I think that even nuclear waste isn't as dangerous. And if Paulson is in a Federal Prison, he still would be dangerous in that he would still be able to talk to people.

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"F**k CNBS, CONgress, Obama, the Democrats, the Republicans, the ratings agencies, the Banksters, the Fed, the FASB, all the government regulatory agencies, the Trilateral Commission, the Council of Foreign Relations, the G whatever, the UN, and any other bastard or big corporate interest that has a fingerprint on this

2009-01-02 20:31:33

Nevertoolate
Posts: 766
Incept: 2007-08-26

San Antonio de Bexar de runover with illegals, Texas

I would be willing to bet that the only reason he took the Secretary of the Treasury was to get the tax free bennies on all of his GS stock. He didn't expect the curtain to come up so fast that he would be caught with his pants down while still in office.

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Before you attempt to beat the odds, be sure that you can survive the odds beating you.
The only true "Change YOU can believe in" will be when we get 535 new CONgresspeople.

2009-01-02 20:57:34

Themortgagedude
Posts: 3344
Incept: 2007-12-17

saint louis

Gen

How about a list of charges which he might be brought up on. And is there any chance of a preemptive pardon being issued to him before Shrub leaves office?

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Since September it's just gotten colder and colder. There's less daylight now, I've noticed too. This can only mean one thing - the sun is going out. In a few more months the Earth will be a dark and lifeless ball of ice.

2009-01-02 21:12:18

Blackswan
Posts: 3361
Incept: 2007-11-06

Execution Pit
Online

Nevertoolate -

How dare you suggest that. He is a public servant and he is taking a very modest salary compared to what he could be making at an investment bank. (sarcasm)

This is the hore**** I actually heard on a few radio talk shows that should remain nameless - initials SH and MM. They were praising Paulson and painting him as someone who cared about the country and was a martyr sacraficing his well being. How can you get the facts and truth of the situation so wrong.

Good ticker KD. When you sum it up like that I realize I don't like Paulson I hate him.

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The market can crash further then you can remain short.
Trade the moon cycle not the tape you want.

2009-01-02 21:13:43

Pensicostreet
Posts: 678
Incept: 2007-06-26

Chumley, Welcome to the best place on the internet. Many happy returns.

2009-01-02 21:13:44

Genesis
Posts: 66463
Incept: 2007-06-26

Royal Flush!

Of course there is TMD (on the pardon.)

Charges? Gee, how about Racketeering? I know, I know, we need a predicate felony. How about "Conspiracy to Defraud" with the ratings agencies?

The funny thing is that a lot of the various laws relating to STOCKS don't apply in the bond market. I wonder who would have wanted it THAT way?

I want to see lots of subpoenas, as I'm sure there's plenty to find.

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I used to play flute; I wonder if I can play a fife?
I incite prosecutors to create "Bubba Sausage Parking Lot" projects
Darrell Issa has a middle finger and knows how to use it - Me

Last modified: 2009-01-02 21:44:00 by genesis

2009-01-02 21:13:45

Lemonaid
Posts: 3514
Incept: 2008-01-20

Detroit Metro
Online

I doubt Paulson cares. Do you know if Paulson, like Bush, purchased 100,000 acres in Paraguay? That's either a tax dodge or a safe place to hide.

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"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises

2009-01-02 21:21:28

Hapablap21
Posts: 688
Incept: 2007-08-21

I have been completely shocked at how the ratings agencies have gotten away with being on the front lines of mispricing all of that risk. The executives of all 3 of those companies ought to be strung up, and you don't hear a single peep about them anywhere but sites like this one.

2009-01-02 21:43:12

Trades50
Posts: 817
Incept: 2007-10-30

Thank you for CAFTA.

October 23, 2006 -- George W. Bush's Paraguay land deal. WMR's Paraguayan sources have confirmed that George W. Bush recently bought 42,000 hectares (over 100,000 acres) of land in Paraguay's northern "Chaco" region. The land sits atop huge natural gas reserves, according to sources in Asuncion. Moreover, the land deal was consummated in a dinner meeting between Bush's daughter Jenna and Paraguayan President Nicanor Duarte. Although Jenna, who was in Paraguay under the cover of a 10-day UNICEF trip to visit child welfare projects, put the Bush family seal of approval on the land deal, the actual legal papers were worked out by Bush family lawyers and business representatives. Jenna Bush is supposedly working for UNICEF in Panama City. A troubling aspect of the land deal is the role played by James Cason, the US ambassador to Paraguay, in a private Bush family business venture. Cason is a career Foreign Service officer whose previous assignment was the head of the US Interests Section in Havana, where he managed to stir up tensions between the mission and Cuban authorities with his anti-Castro advertisements placed in the windows of the U.S. offices. Cason also has a long history of cooperating with the Defense Intelligence Agency in such locations as Honduras, El Salvador, Panama, Uruguay, and Venezuela. Cason also served as the Guatemala Desk Officer at the Department of State.

2009-01-02 21:46:33

Lakeshorelady
Posts: 5191
Incept: 2007-08-17

Not familiar -- What new's agency is wmr in "WMR's Paraguayan sources"
I am thinking I might need one of my Reynolds' hats for this one. I have a splendid one I made in which I weaved ultra shiney blue Christmas ribbon through that I am saving for a special type occasion...

2009-01-02 22:29:48

Buck350
Posts: 560
Incept: 2008-10-22

Quote:

How about a list of charges which he might be brought up on. And is there any chance of a preemptive pardon being issued to him before Shrub leaves office? -themortgagedude

Spot ****ing on. Can we just copy/paste this Ticker into Paulson's indictment papers? Save some poor Paralegal all that research and typing...

I read Paulson's comments today, and almost lost my lunch. I have seen some self serving, perception managing, history rewriting BULL**** in my time, but he has raised it to a ******n art form.

Point those fingers, Hank. Point 'em, you SOB. You have killed millions.

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I think Paulson and Bernanke knew early on that Wile E. Coyote had already run straight off the cliff, so they chose to focus on frantic efforts to slow his descent before J6P notices the "gravity" of what has happened, hoping that the proles won't panic telegenically on the way down.

Last modified: 2009-01-02 22:47:08 by buck350
Reason: typing under the influence

2009-01-02 22:43:41

Gunner_boone
Posts: 18
Incept: 2007-10-08

So obvious to all of us readers of this forum, that this felon and his croneys are poison... and that poison was potent enough to rock the entire globe.

And yet, he makes runner-up as 'Times Person of the Year, 2008'

I tell you where the real corrections need to be made... in the common media.

Most people don't even know what the hell is going on in the world. They hear "a crisis of confidence", and do not know that the pain should have been realised even earlier than it happened, prevented only by market intervention.

They do not know that the problems now happening are a mathematical necessity, and are unavoidable... just as the coming problems are as well.

While the public are kept dumb and uninformed, you will NEVER get righteous indignation, protest, and change. You will continue to see only 18 people at a protest.

People may be stupid enough to be entertained by an hour of Britney, but the thing is, the responsibility still lays with the broadcaster who KNOWS BETTER, pumping out the garbage and avoiding the real news.

I weep for the world, I don't see hope while these people still steer the ship of fools.

People such as Murdoch, who I am ashamed to know come from my home country, are every bit as culpable as Paulson. They are charged with the role of moral compass to the masses, and always point the wrong way. Intentionally.

2009-01-02 22:51:17

Teachmehow
Posts: 1409
Incept: 2008-02-17

trenton nj

"Global economic imbalances helped to foster the credit crisis by pushing down global interest rates and driving investors toward riskier assets"

sounds sorta like what the fed is doing.. pushing down interest rates to drive investors into riskier assets like housing. eww

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patiently waiting for that
unexpected and sharp discontinuous response

2009-01-02 23:37:09

Trades50
Posts: 817
Incept: 2007-10-30

LSL,

Seemed like it was tinfoil. Found some other referenes to it.

We can't believe our own treasury secretary so how can we take the word of some coca chewing Paraguayans.

http://www.guardian.co.uk/world/2006/oct....

http://www.counterpunch.org/cp10202006.h....

2009-01-02 23:56:23

Themortgagedude
Posts: 3344
Incept: 2007-12-17

saint louis

I truly don't think Bush will issue the pardons because that would be like admitting they committed a crime. But hell with Paulson he can probably justify it to himself and CNBS as only he can. He ain't selling that **** over at TF though.

2009-01-02 23:58:10

Statusquojoe
Posts: 2048
Incept: 2008-11-20

Land of the fees Home of the slaves.

I like this quote that I read today, I wonder if anyone can guess who said it (without using google?

Quote:

Financial capital not spared

Let me pause here to make a confession. If anything, I did not see far enough to realize all the consequences of the Federal Reserve�s driving the economy into the black hole of zero interest. I failed to see the simultaneous destruction of financial capital. I thought that the devastation would be confined to productive capital. In fact, I thought that the banks were the beneficiaries of falling interest rates. They were the vampire sucking the life-blood of the producers. The financial sector was siphoning capital away from the accounts of the producing sector. I should have seen that exactly the same argument applies to financial capital as to productive capital. They are both being destroyed piecemeal by the falling interest rate structure.

The present banking crisis is the result of wiping out the capital of the financial sector, through the same process that has wiped out the capital of the producing sector: the Federal Reserve�s deliberate and declared policy to drive down interest rates. The banks could have saved themselves if they had just kept picking the fruits of capital gains on their bond portfolio. Bond values have appreciated in the wake of falling interest rates. Pocketing capital gains plus clipping coupons could have been a very profitable pastime for the banks still. But in their infinite greed they were not satisfied. They coveted more. They had recourse to �securitizing� toxic garbage and started peddling it, world-wide, as Madoff was peddling his Ponzi tickets. That was their undoing. As long as securitized garbage was kept in their balance sheets, the dirty little secret was safe. But when it was put into circulation, the scandal could no longer be kept under the bushel. �Look, Dad, the banks have no capital!� Following the cry of the little boy, other spectators at the parade, too, could see that the emperor had no clothes.

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"The value of a man's opinion, is the price he has paid to have it." Author unknown.

2009-01-03 00:00:19

Taint
Posts: 142
Incept: 2008-12-24
texas

can someone please provide a link that supports the 'selling while short selling issue' karl notes in this and other posts. I haven't seen anything that specifically links paulson and his previous firm to this and want to ground myself. this in no way is a challenge but rather an educational process.

My guess is Greenspan.

Cheers,

Last modified: 2009-01-03 00:17:46 by taint

2009-01-03 00:17:09

Musashi
Posts: 2476
Incept: 2007-11-06

delete, wrong guess.

Last modified: 2009-01-03 00:26:29 by musashi
Reason: delete

2009-01-03 00:22:51

Statusquojoe
Posts: 2048
Incept: 2008-11-20

Land of the fees Home of the slaves.

Any other guesses?

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"The value of a man's opinion, is the price he has paid to have it." Author unknown.

2009-01-03 00:28:31

Statusquojoe
Posts: 2048
Incept: 2008-11-20

Land of the fees Home of the slaves.

Ooo I am losing patience, so yes I will blurt it out. It was Professor Fekete.

http://financialsense.com/editorials/fek....

Ok last gold bug sided slur I promise, although he did say "I told you so".

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"The value of a man's opinion, is the price he has paid to have it." Author unknown.

2009-01-03 00:38:37

Lakeshorelady
Posts: 5191
Incept: 2007-08-17

Taint
Here is GS recommending CDS against muni bonds it underwrites
http://www.tickerforum.org/cgi-ticker/ak....

On the MBS case
Goldman 2006 Q# report

Quote:

"Net revenues in [trading] mortgages were...significantly higher, despite continued deterioration in the market environment. Significant losses on non-prime loans and securities were more than offset by gains on short mortgage positions."

So at this time they are shorting mortgage positions but STILL pushing the securites of those companies they are short onto their customers

I can look for more if that isn't enough for you.

To customer "Hey, hey buy these bonds, we did the underwriting. They are AAA you know"
To trading desk, "Hey just talked with underwriting. Those "AAA" bonds, well they really suck, make sure you short the **** out of whoever sent them over"

Nothing like being able to short someone while having FIRST hand knowledge of the "suckiness" of their product 'cause you underwrite them. And to really get bang out of that buck pass them off to someone else as AAA.

Guess all of that is a special front running option EXCLUSIVELY availiable to GS and there is nothing at all wrong with it per the "regulators"

Last modified: 2009-01-03 01:42:53 by lakeshorelady

2009-01-03 01:24:15

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