Comments on: The $45 Billion Dollar Club

By: sherm

sherm — Fri, 16 Jan 2009 22:21:27 +0000

What i would like to know is when does bad policy become criminal? A friend and i discussed this the other day and his take is that criminalizing bad policy decisions would set a precedent that would inhibit future policy makers from making tough decisions.

By: willid3

willid3 — Fri, 16 Jan 2009 21:20:24 +0000

so why didn’t the FED and Treasury just buy the banks outright instead of trying to prop them up ? It would have been cheaper in the long run as they could then turn around and break them up and spin them off later when they had gotten them fixed? I know it would be hard on the financial companies and executives as they would loose all those bonuses and perks. maybe that why. they have to much pull with the politicians. and our current leader!

By: Bruce N Tennessee

Bruce N Tennessee — Fri, 16 Jan 2009 17:49:01 +0000

Gotta go…finished at the mine…here is the story about what debt can do to your country…and we are at the early stages..

http://www.bloomberg.com/apps/news?pid=20601085&sid=azQAixzrw_y4&refer=europe

Trichet Vision Unravels as Italy, Spain Debt Shunned

By: going broke

going broke — Fri, 16 Jan 2009 17:48:57 +0000

OT: What company makes the Treasury printing presses and ink?… I wanna buy their stock.

By: Mannwich

Mannwich — Fri, 16 Jan 2009 17:41:37 +0000

Sorry for OT but Pfizer laying off 2,400, a third of its salesforce. There goes the myth that biotech/pharma/health care “recession-proof”. Well, maybe they’re ARE RECESSION-proof but not DEPRESSION-proof.

By: Bruce N Tennessee

Bruce N Tennessee — Fri, 16 Jan 2009 17:36:11 +0000

DL:

I am puzzled here at the ALL IN nature of our government, as Barry opined in the last day or so about Mr. Bernanke. I can see the thought that Ben must be having, that he’s studied the problem, and that if the first large skirmishes look as though we aren’t getting anywhere, just keep on shooting. But I am a more conservative person that apparently our Fed chair, and I can’t help but wonder what this leaves the next generation, even if we’re “successful”..

There is a story today about the differential in interest rates in Europe…on one hand there is Germany, who debt is funded at a much better rate than the countries who’ve run up huge deficits recently and appear to have lost their fiscal resolve…you know them, Ireland, Greece, Spain…

I keep seeing this future debt piling up, and the entities we are bailing out…it just seems like there comes a time when the cure is worse than the disease…

By: 10 cc

10 cc — Fri, 16 Jan 2009 17:27:48 +0000

Mannwich,

Have you noticed that the BKX has broken its’ November low?

By: DL

DL — Fri, 16 Jan 2009 17:26:19 +0000

Bruce @ 8:03

“…we are screwed either way. Depression now, or staggering debt for years to come”.

True.

Most people will choose the latter, even though the ultimate cost will be far greater.

By: Bruce N Tennessee

Bruce N Tennessee — Fri, 16 Jan 2009 17:22:26 +0000

Curmudgeon:

I usually stop on my way to the salt mine on Friday and buy donuts for everyone.

Out of business, yesterday. Just a sign in the window.

…just more of the same, I guess.

By: Mannwich

Mannwich — Fri, 16 Jan 2009 17:07:28 +0000

Looks like the market coming to their senses on BAC and the other financials. These ongoing bailouts’ ability to goose stock prices is starting to wane. Beware JB, beware……