Comments on: Fmr Secy O’Neil: TARP Goal Deceive Public http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Sat, 21 Nov 2009 19:03:21 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Stuart http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162458 Stuart Thu, 16 Apr 2009 02:40:33 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162458 Leftback, ya, noticed that too, although there is really two markets. The real physical market and the paper market controlled by the Wall St. goons. Still, I hear alot of people finally connecting the dots in seeing a tsunami of treasuries hitting the market and, while kicking and screaming, they are coming to the realization that the Fed is going to buy more and more treasuries. Gold I think is sensing the inevitable conclusion of that plus what the unsustainable levels of debt ultimately mean. That BS about the IMF, the announcement originally came out last year btw - talk about an announcement gaining alot of mileage, anything they sell won't see one second in the market. Interesting how it's Gordon Brown pushing it. Oh the irony. Leftback, ya, noticed that too, although there is really two markets. The real physical market and the paper market controlled by the Wall St. goons. Still, I hear alot of people finally connecting the dots in seeing a tsunami of treasuries hitting the market and, while kicking and screaming, they are coming to the realization that the Fed is going to buy more and more treasuries. Gold I think is sensing the inevitable conclusion of that plus what the unsustainable levels of debt ultimately mean. That BS about the IMF, the announcement originally came out last year btw – talk about an announcement gaining alot of mileage, anything they sell won’t see one second in the market. Interesting how it’s Gordon Brown pushing it. Oh the irony.

]]> By: Pat G. http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162455 Pat G. Thu, 16 Apr 2009 02:35:11 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162455 What was the purpose of this policy? To deceive the public into believing that ALL banks were in the same amount and kind of trouble. That way when they came up with their alphabet soup of bailout programs it would be more palatable for the public. What was the purpose of this policy?

To deceive the public into believing that ALL banks were in the same amount and kind of trouble. That way when they came up with their alphabet soup of bailout programs it would be more palatable for the public.

]]> By: call me ahab http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162429 call me ahab Wed, 15 Apr 2009 23:36:55 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162429 @ rktbrkr it's all a big show- to restore calm and confidence- whether it works or not is another story. As indicated my Mish and Minyan- the whole Goldman Sachs "early announcement" was so orchestrated that it was apparent that they were trying to buffalo everyone with their bullshit numbers- early announcement no less- what a fucking charade- check out the quotes from 1929 to 1931- http://www.gold-eagle.com/editorials_01/seymour062001.html @ rktbrkr

it’s all a big show- to restore calm and confidence- whether it works or not is another story. As indicated my Mish and Minyan- the whole Goldman Sachs “early announcement” was so orchestrated that it was apparent that they were trying to buffalo everyone with their bullshit numbers- early announcement no less- what a fucking charade-

check out the quotes from 1929 to 1931-

http://www.gold-eagle.com/editorials_01/seymour062001.html

]]> By: rktbrkr http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162427 rktbrkr Wed, 15 Apr 2009 23:17:00 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162427 The next 3 or 4 months will be key, if we get new waves of foreclosures and abandonments we'll have some sort of extraordinary US agency action taking maybe millions of underwater homes from the 19 Sacred Banks at prices that won't BK them and then rewrite the the new mortgages or leases to "fair values" to prevent financial collapse and social upheaval. The next 3 or 4 months will be key, if we get new waves of foreclosures and abandonments we’ll have some sort of extraordinary US agency action taking maybe millions of underwater homes from the 19 Sacred Banks at prices that won’t BK them and then rewrite the the new mortgages or leases to “fair values” to prevent financial collapse and social upheaval.

]]> By: rktbrkr http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162426 rktbrkr Wed, 15 Apr 2009 23:06:09 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162426 Like Jim Rogers has said many times "you can't believe the government". Every gummint released economic and employment number has been revised worser since at least mid 08 and often more than once. We get the knee-jerk bump up after the headline "economy shows signs of stabilizing", "job losses stabilize" and then 4 weeks later they get revised substantially worser with little comment. Headlines, stimulous packages and foreclosure moritoria muddy the water but it's the same trend. Like Jim Rogers has said many times “you can’t believe the government”. Every gummint released economic and employment number has been revised worser since at least mid 08 and often more than once. We get the knee-jerk bump up after the headline “economy shows signs of stabilizing”, “job losses stabilize” and then 4 weeks later they get revised substantially worser with little comment. Headlines, stimulous packages and foreclosure moritoria muddy the water but it’s the same trend.

]]> By: Moss http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162424 Moss Wed, 15 Apr 2009 22:47:54 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162424 Tea Parties and Bo the pooch.. that's the ticket. Tea Parties and Bo the pooch.. that’s the ticket.

]]> By: Mannwich http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162422 Mannwich Wed, 15 Apr 2009 22:24:55 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162422 Gee, thanks pigpen. Now I think I'll go kill myself.........or a worse alternative, go work out. Gee, thanks pigpen. Now I think I’ll go kill myself………or a worse alternative, go work out.

]]> By: leftback http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162418 leftback Wed, 15 Apr 2009 21:36:31 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162418 @Stuart: got gold? Interesting how we got a soft PPI and CPI and gold didn't sell off. Bullish. @pigpen: Nice link, thanks. The message is getting across, blogs leading as usual. @Stuart: got gold? Interesting how we got a soft PPI and CPI and gold didn’t sell off. Bullish.

@pigpen: Nice link, thanks. The message is getting across, blogs leading as usual.

]]> By: pigpen http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162406 pigpen Wed, 15 Apr 2009 20:32:52 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162406 Leftback, we are just a more anglo looking banana republic as I am not sure there has ever been a banana republic where the supermajority of citizens were white. Favortism, reliance upon foreing money, decent tourism industry and some agriculture exports. It is sad how no one is picking up on this theme - blatant looting and deception as long as the stock market is rallying it is alright. O'Neil was one of the more honest (relative term here) in the bush administration and at least he left with a modicum of decency and some principle. Here are the top ten signs we are truly living in an american banana republic. http://thebarricadeblog.com/2009/04/11/the-top-10-signs-you-are-living-in-a-banana-republic-and-my-favorite-100-billion-omelet/ Leftback, we are just a more anglo looking banana republic as I am not sure there has ever been a banana republic where the supermajority of citizens were white. Favortism, reliance upon foreing money, decent tourism industry and some agriculture exports. It is sad how no one is picking up on this theme – blatant looting and deception as long as the stock market is rallying it is alright.
O’Neil was one of the more honest (relative term here) in the bush administration and at least he left with a modicum of decency and some principle. Here are the top ten signs we are truly living in an american banana republic.
http://thebarricadeblog.com/2009/04/11/the-top-10-signs-you-are-living-in-a-banana-republic-and-my-favorite-100-billion-omelet/

]]> By: RobertK http://www.ritholtz.com/blog/2009/04/fmr-secy-oneil-tarp-goal-deceive-public/comment-page-1/#comment-162391 RobertK Wed, 15 Apr 2009 19:54:51 +0000 http://www.ritholtz.com/blog/?p=23737#comment-162391 "O’Neill said that unfortunately the government is permitted to practice a policy of deception for the greater good of the society." True that. An other example, the hot-air cheer leading the government is fronting. Have anyone noticed how numbers provided by the government are revised more frequently these days, specifically the job numbers? You can't trust these numbers, they are -20% of actual most the time!!! Imagine if companies do this... wait, some do, we can them wall street banks. “O’Neill said that unfortunately the government is permitted to practice a policy of deception for the greater good of the society.”

True that. An other example, the hot-air cheer leading the government is fronting. Have anyone noticed how numbers provided by the government are revised more frequently these days, specifically the job numbers? You can’t trust these numbers, they are -20% of actual most the time!!! Imagine if companies do this… wait, some do, we can them wall street banks.

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