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| User Info | Madoff, Banking, Morgan and More in forum [Ticker] | |||
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Genesis Posts: 71426 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/863-Ma....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 08:53:35
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Dashingdwl Posts: 4564 Incept: 2007-06-26 
los angeles
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What a surprise. Are you 'in' today?
---------- Think Green Tip.
2009-03-12 09:00:36
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Brobdingnagian Posts: 358 Incept: 2008-02-11 Oligarchansas
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Quote:That ticker was intended as a warning as to how bad things could get; reading for context is important. Of course government could do the right thing, and perhaps they're taking the cotton out of their ears, even if just a little bit. Mary Shapiro made some very interesting noises yesterday in her testimony before Congress, and actually answered questions - something that our regulators haven't done in the last 20 or so years. It was a welcome change, and if we can hear more of that, perhaps the markets - especially the credit markets - will ease off the edge of the cliff a bit, gaining just a bit of confidence that some of The Bezzle will be removed. We shall see. Do you have a link for Shapiro's testimony? I'm afraid I missed that yesterday and would love to see it, too. Thanks for another great Ticker, KD. ---------- Ficht nicht mit der Raketemensch
2009-03-12 09:13:30
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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No, I was listening to snippets online while in the car on my "bug" (earpiece)
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 09:16:48
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Brobdingnagian Posts: 358 Incept: 2008-02-11 Oligarchansas
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Found it: http://www.sec.gov/news/testimony/2009/t.... ---------- Ficht nicht mit der Raketemensch Last modified:
2009-03-12 09:26:29 by brobdingnagian
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Soros Posts: 1768 Incept: 2007-08-31 canada
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was there meant to be something in the ticker about Mike Morgan ? [edit: oops.. gotta knock the sleepy outta my head.] ---------- Hey, man, you don't talk to the Bernanke. You listen to him. The man's enlarged my mind. He's a poet warrior in the classic sense. I mean sometimes he'll... uh... well, you'll say "hello" to him, right? And he'll just walk right by you. He won't even notice you. Last modified:
2009-03-12 10:15:36 by soros
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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No. JP Morgan.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 09:28:42
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Binney Posts: 2326 Incept: 2008-08-27
Riverhead, NY
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nerdy typo alert: Quote:if your purchase was made due to the fact that this information would be "material" the marketplace.left out "to" the marketplace ---------- Holy crap!!!! I'm a left leaning authoritarian!
2009-03-12 09:47:50
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Shooter Posts: 2758 Incept: 2007-11-26
Online
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I wonder when you will start writing about after the crash of our economy and government. Properly titled Greed Fraud and Ignorance The demise of America. Now that would be a facinating read. How about "the more things change the more they stay the same" ummm guess we wouldn't know that "it would require Change. How about "buddy can you spare some change" or a tent? Maybe hey Obama "can you spare some change as promised" oh that contradicts #1 From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to complacency; From complacency to apathy; From apathy to dependence; From dependence back into bondage Clearly we're in the dependence stage and heading toward servitude or subjugation to a controlling person and/or force similarly "Feudalism" Hide well,as "the meek will inherit the earth" or [****roach] will ---------- Thomas Jefferson: "To preserve [the] independence [of the people,] we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.
2009-03-12 10:18:41
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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All I'll have left with Obama is some change.
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 10:19:43
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Stonedog Posts: 1105 Incept: 2008-05-29
New Jersey
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Gen - did you expect anything else?
---------- "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
2009-03-12 10:20:54
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Sandor Posts: 1002 Incept: 2007-08-08
Deltaville,Virginia
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Looks like Karl's message is getting through! U.S. House to explore financial crisis prosecutions 1 hr 26 mins ago Featured Topics: WASHINGTON (Reuters) – The U.S. House Financial Services Committee will hold a hearing next week to ask key justice officials and regulators what they need to prosecute wrongdoers in the financial crisis, the chairman of the committee said on Thursday. Barney Frank, a Massachusetts Democrat, said he had invited officials from the U.S. Justice Department, the FBI, the Securities and Exchange Commission, and all the bank regulators to the hearing. "I'm not morphing into Joe McCarthy, but I am going to have them tell me what they need for criminal prosecutions and the civil recovery of funds," Frank told a conference of the National Community Reinvestment Coalition. McCarthy was a Republican senator in the 1950s who notoriously accused people of being Communists during the Cold War. (Reporting by Karey Wutkowski; Editing by Lisa Von Ahn)
2009-03-12 10:22:02
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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Holy ****! I like it. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 10:24:59
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Stonedog Posts: 1105 Incept: 2008-05-29
New Jersey
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I'll believe it when I see action.
---------- "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
2009-03-12 10:31:06
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Tesla Posts: 8174 Incept: 2008-04-03 
Delaware
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Sure. Have the criminals tell the lawmakers how to craft laws that they intend to not get prosecuted under. Perhaps promising, but I'd take the bet on the other side: more obfuscation, grandfathering in of past acts, etc. I'm way too cynical to believe they mean any of this. I'll believe it when I see Dodd and Frank under indictment, along with all the other CONgresscritters who took bank money/I mean campaign contributions. ---------- "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." Samuel Adams I'd rather die on my feet than live on my knees. - Emiliano Zapata
2009-03-12 10:34:03
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Otiswild Posts: 1341 Incept: 2009-03-09
Teegeeack
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Nice to see you got some C lotto too, picked up a few apr calls dirt cheap as well, spent less than folks I know would blow on craps or roulette (or REAL lotto in some cases!)...
---------- It appears that the yard wolves has grown up. Are we finally finished with the colds dead winters?
2009-03-12 10:37:56
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Taint Posts: 165 Incept: 2008-12-24 texas
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You keep reading that trillions of dollars of wealth has been destroyed. This is a zero sum game. One's gain is another's loss. The real question is where is all the cash. Sitting on the sidelines waiting to invest or delevering and now sucked into the banking abyss. Is there any data out there about "where the cash has gone?"
2009-03-12 10:52:45
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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Taint, this is not true. Options and futures are zero-sum games, but equities are not. If I buy an IPO @ $10 and it goes to $20, I have doubled my money. But if the stock then goes to zero, the company still got my original $10 but I now have nothing. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 10:54:56
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Laser927 Posts: 6 Incept: 2009-01-29
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Within weeks, Treasury Secretary Timothy Geithner plans to unveil a new public-private investment fund that will be used to purchase illiquid assets, such as toxic mortgage related securities at the heart of the financial crisis. Kashkari said the private sector has voiced interest in the program and said he expects pension funds and mutual funds that hold retirement savings to be among the major investors. "My assumption is that most of the capital will come from the savings of the American people," he said. http://news.yahoo.com/s/ap/20090311/ap_o.... Kashkari said he didn't expect the private sector investment to get any advantage over the government's investment. "If the private sector wins, the taxpayer wins," he said. "If the taxpayer loses, the private sector loses."
2009-03-12 11:52:13
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Samspade Posts: 122 Incept: 2009-01-03
Online
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I suspect this is about it when it comes to Madoff. Where is he going to be put in jail again?
2009-03-12 12:05:44
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Randy123 Posts: 2006 Incept: 2008-09-24 New Jersey
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Yes we should prosecute. Will it somehow give the Shadowstats 19% of people unemployed jobs: NO. This is not the panacea. ---------- Mliu is my hero. Captain melamine.
2009-03-12 12:11:03
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Txdomer Posts: 968 Incept: 2007-11-07
Ding-dong, the Fed is dead!
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Quote:If we actually see a strong, consistent, even-handed prosecutorial response to this crisis and people up and down the line start finding themselves under indictment confidence may begin to return to the capital markets. Karl, I was going to accuse you of being a Pollyanna, but I thought I should first ask what you think the odds are of real prosecutions happening. Boy, am I looking forward to your magnum opus on fractional reserve banking. After that, you can start working on "How The World Works: A Guide to Our Capitalist System", or something like that. ---------- "Economics is not practiced as a science. Rather, it is a pretentious way to covertly promote political prejudices." - Fred Harrison http://renegadeeconomist.com Last modified:
2009-03-12 13:47:42 by txdomer
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Genesis Posts: 71426 Incept: 2007-06-26
KD^2
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TX: Not very likely. However, that it is now on the table as POSSIBLE is enough for me to perk up a bit. ---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-03-12 13:47:06
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Txdomer Posts: 968 Incept: 2007-11-07
Ding-dong, the Fed is dead!
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Okay, what's with the Avatar going back to mushroom? Rally is over? EDIT: I see now my avatar keeps randomly reverting back too. What's going on? Quote:this is something you should have learned in High School Are you kidding? That's a Pandora's box. Every kid would want to be a banker, and create money out of thin air. No more engineers, doctors or lawyers. ---------- "Economics is not practiced as a science. Rather, it is a pretentious way to covertly promote political prejudices." - Fred Harrison http://renegadeeconomist.com Last modified:
2009-03-12 14:19:03 by txdomer
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Taint Posts: 165 Incept: 2008-12-24 texas
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Karl, We are still in a viable market not one where value is being destroyed instantly by BK's. I mean if a company's stock went from $50 in June 08 to $3 today....someone has been selling the stock and generating cash proceeds. I agree with your statement that it doesn't always mean its zero sum, but stocks have been liquidated and a large portion of cash capital is now resting somewhere. Where is it? The cash didn't evaporate. Again, if a company goes out of business without any selling, I agree. While that has happened (presumably) normally it is proceeded by massive selling of the stock then BK and delisting etc....
2009-03-12 14:33:15
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