Goddamn Greenspan's advice on the goddamn mess he goddamn well created

[charlie]

Banks need more capital. No shit, Alan.

A rising stock market should do the trick. No shit, Alan. You think?

Stock market rebound should happen in 6mos to a year. Drinking again, Alan?

In the meantime, the $250 billion injection helped loosen capital flows. No shit, Alan.

So, assuming modest further write-offs... Assume ponies while you're at it, Alan.

Another $250 billion should do the trick. Fuck you, Alan.

http://www.economist.com/finance/displayStory.cfm?story_id=12813430

[Irish Girl]

1. haha Charlie this wins post of the year

hands down!

:toast:

[charlie]

2. Guess who the weasel is working for now

John Paulson, the hedge fund manager who bet against Greenspan's "fundamentals are sound" assurances and made $15 BILLION -- $4 billion of that for himself. In other words, his boss is a guy who bet the house on Greenspan being the world's biggest idiot.

[KharmaTrain]

3. Like He Cares? Who Do You Think Got Our Money...

Now we've lost all this money over the past year...where did it go? Into a rabbit hole?

The big scam is that much of the riches many people saw was only on paper...never in real money. The Wall Street con game was to get more money to keep their ponzi schemes going, taking the money and promising the suckers 10-15% returns. Once Greenspan and his ilk got your money, then the con got bigger...more dreams of riches, more bubbles and your pocket got picked.

I never could understand how this dude was considered such a "financial genius"...when it was obvious to many who didn't let the money get in their eyes this was a big scam from the moment Raygun put him in the Fed. This shitstick doesn't have to worry about keeping his home heated or food on the table this winter...all he has is that potted plant stenographer of a wife to keep spreading bullshit about his "knowledge".

Ain't it great how our genius financial gurus were so "stunned" when the bottom fell out. I've seen better bullshit at a rodeo.

[dysfunctional press]

4. the money went into the ether...it never really existed, except electronically.

it wasn't "stolen" by anyone- it just ceased to exist.

[KharmaTrain]

5. The Initial Money Was Real...

I knew too many "daytraders" and other market players...the money they used to get into the game sure was real...everything beyond that, as you say, never existed...just numbers on a monthly statement...in many cases dividends were "re-invested"...never seeing their pockets and the come on was "double or nothing".

One day we'll look back on the past 20 years of market games and trace the destruction of the middle class to these predatory games.

Not long ago, I was bitched at by a "financial wizard" that I was keeping too much money in CDs and Savings...while he was cranking those "big gains". I recently spoke with him...all of a sudden he's no longer the master of the market...lost most of what he had and still has no clue how he'd been played.

Cheers...

[bridgit]

6. 'irrational rationalism', Alan?