Comments on: Volcker’s anti-Geithner, anti-Summers World Tour http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/ Macro Perspective on the Capital Markets, Economy, Geopolitics, Technology, and Digital Media Tue, 14 Feb 2012 23:17:23 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: 2009 — A Year We Will Live To Regret :: ASPO-USA: Association for the Study of Peak Oil and Gas http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-242480 2009 — A Year We Will Live To Regret :: ASPO-USA: Association for the Study of Peak Oil and Gas Thu, 17 Dec 2009 16:14:10 +0000 http://www.ritholtz.com/blog/?p=46308#comment-242480 [...] Bankers and regulators have not come anywhere close to responding with necessary vigor to the worst economic crisis in 70 years. There is a lot of evidence that financial weaknesses brought us to the brink of a great depression… The proposed changes are like a dimple —Paul Volcker, from his anti-Tim Geithner, anti-Larry Summers Bankers Shame World Tour [...] [...] Bankers and regulators have not come anywhere close to responding with necessary vigor to the worst economic crisis in 70 years. There is a lot of evidence that financial weaknesses brought us to the brink of a great depression… The proposed changes are like a dimple —Paul Volcker, from his anti-Tim Geithner, anti-Larry Summers Bankers Shame World Tour [...]

]]> By: kevinearick http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-242081 kevinearick Wed, 16 Dec 2009 02:38:09 +0000 http://www.ritholtz.com/blog/?p=46308#comment-242081 Ironic. Many who referred to Paul Volcker as Darth Vader are now praying for his return. Ironic; that's all. His participation would be helpful, if the Lazarus catalysis is to proceed. Can I sell you an Austrian bank to go along with Citicorp and Wells Fargo in your Goldman Sachs pension fund, with a government guarantee to cover the current cash account deficit, paid through monetary expansion billed to the future? Oh; that doesn't work any longer. Never mind. Return to labor generally does no occur through reason, unfortunately, and the constitutional mechanism to that end was shorted several decades ago. Organizational legitimacy and individual self-regulation are the issues being avoided. Ironic. Many who referred to Paul Volcker as Darth Vader are now praying for his return.

Ironic; that’s all.

His participation would be helpful, if the Lazarus catalysis is to proceed.

Can I sell you an Austrian bank to go along with Citicorp and Wells Fargo in your Goldman Sachs pension fund, with a government guarantee to cover the current cash account deficit, paid through monetary expansion billed to the future?

Oh; that doesn’t work any longer.

Never mind.

Return to labor generally does no occur through reason, unfortunately, and the constitutional mechanism to that end was shorted several decades ago.

Organizational legitimacy and individual self-regulation are the issues being avoided.

]]> By: mknowles http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-242080 mknowles Wed, 16 Dec 2009 02:30:56 +0000 http://www.ritholtz.com/blog/?p=46308#comment-242080 Is it possible Volcker is doing this on behalf of President Obama, unofficially?.... Is it possible Volcker is doing this on behalf of President Obama, unofficially?….

]]> By: ancientone http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-242000 ancientone Tue, 15 Dec 2009 18:25:57 +0000 http://www.ritholtz.com/blog/?p=46308#comment-242000 bsneath Says, if you're right, then we can really kiss this country goodby. Big Money can only keep squeezing the working classes down further and further until they are too poor to buy anything, and then America will look a lot like Brazil; a few very rich people behind high walls, and a lot of poverty and crime all around them. God bless unregulated business. bsneath Says, if you’re right, then we can really kiss this country goodby. Big Money can only keep squeezing the working classes down further and further until they are too poor to buy anything, and then America will look a lot like Brazil; a few very rich people behind high walls, and a lot of poverty and crime all around them.
God bless unregulated business.

]]> By: bsneath http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-241996 bsneath Tue, 15 Dec 2009 18:12:03 +0000 http://www.ritholtz.com/blog/?p=46308#comment-241996 ancientone Says: "My biggest disappointment in Obama has come from his handling of the big banks mess... but it appears now that he either doesn’t understand the problem, or he doesn’t think he can get congress to really fix things..." Obama understands quite well that the Investment Banks are more than willing to help finance his war chest to keep Democrats in power and to pay for his reelection bid in exchange for a little quid pro quo. Enough said. ancientone Says: “My biggest disappointment in Obama has come from his handling of the big banks mess… but it appears now that he either doesn’t understand the problem, or he doesn’t think he can get congress to really fix things…”

Obama understands quite well that the Investment Banks are more than willing to help finance his war chest to keep Democrats in power and to pay for his reelection bid in exchange for a little quid pro quo.

Enough said.

]]> By: ancientone http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-241994 ancientone Tue, 15 Dec 2009 18:02:30 +0000 http://www.ritholtz.com/blog/?p=46308#comment-241994 My bigest disappointment in Obama has come from his handling of the big banks mess.......I was hoping he would be another FDR and restore some semblance of law and order in and around Wall St., but it appears now that he either doesn't understand the problem, or he doesn't think he can get congress to really fix things, so is settling for some make-believe reforms that won't really hurt any of the "fat cats" he so readily condemns in word only. It took Big Money thirty years to dismantle the New Deal framework, and we got another disaster, just like before. With our pathetic educational system, the public had no clue what was being foisted upon them until it was too late. History is voting thumbs down on America. We're too ignorant to remain a great power. My bigest disappointment in Obama has come from his handling of the big banks mess…….I was hoping he would be another FDR and restore some semblance of law and order in and around Wall St., but it appears now that he either doesn’t understand the problem, or he doesn’t think he can get congress to really fix things, so is settling for some make-believe reforms that won’t really hurt any of the “fat cats” he so readily condemns in word only. It took Big Money thirty years to dismantle the New Deal framework, and we got another disaster, just like before. With our pathetic educational system, the public had no clue what was being foisted upon them until it was too late.
History is voting thumbs down on America. We’re too ignorant to remain a great power.

]]> By: Tuesday links: distilled versions Abnormal Returns http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-241990 Tuesday links: distilled versions Abnormal Returns Tue, 15 Dec 2009 17:41:57 +0000 http://www.ritholtz.com/blog/?p=46308#comment-241990 [...] Can Paul Volcker move the consensus on financial reform?  (Baseline Scenario, Big Picture) [...] [...] Can Paul Volcker move the consensus on financial reform?  (Baseline Scenario, Big Picture) [...]

]]> By: willid3 http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-241984 willid3 Tue, 15 Dec 2009 17:21:38 +0000 http://www.ritholtz.com/blog/?p=46308#comment-241984 @farmera1 and 401ks? @farmera1
and 401ks?

]]> By: bsneath http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-241983 bsneath Tue, 15 Dec 2009 17:16:29 +0000 http://www.ritholtz.com/blog/?p=46308#comment-241983 @farmera1 uh, you forgot pension funds...... @farmera1

uh, you forgot pension funds……

]]> By: farmera1 http://www.ritholtz.com/blog/2009/12/volckers-anti-geithner-anti-summers-world-tour/comment-page-1/#comment-241979 farmera1 Tue, 15 Dec 2009 17:10:03 +0000 http://www.ritholtz.com/blog/?p=46308#comment-241979 Why are all the heroes pushing their eighties ????? Volcker Buffett Templeton Bogle Is it me or does it seem that those that are the true honest competent leaders are all pushing eighty? I'm not eighty but am in my mid sixties, so it is a safe assumption that I suffer from age bias (I hope). I sometimes think that all that were good in this country are getting old. The younger set that should be leading this country all fit into molds like these guys: Lay Geitner Bush Madeoff Paulson etc I also believe that leaders reflect their country, not the other way around. Corruption is rampant, chronyism, corporatism, wars, debt etc etc. I see many things that don't bode well for the future of this country. I wonder if Obama can make the necessary repairs, but I also believe (and believed) that making any changes was and is going to be very very difficult. One thing you can say for sure, deleveraging is a bitch. Regulating corrupt markets is going to be barely possible. Ending wars is always harder than starting them. Then you have Medicare, SS just over the horizon. Have a nice day. Why are all the heroes pushing their eighties ?????

Volcker
Buffett
Templeton
Bogle

Is it me or does it seem that those that are the true honest competent leaders are all pushing eighty? I’m not eighty but am in my mid sixties, so it is a safe assumption that I suffer from age bias (I hope). I sometimes think that all that were good in this country are getting old. The younger set that should be leading this country all fit into molds like these guys:

Lay
Geitner
Bush
Madeoff
Paulson
etc

I also believe that leaders reflect their country, not the other way around. Corruption is rampant, chronyism, corporatism, wars, debt etc etc. I see many things that don’t bode well for the future of this country.

I wonder if Obama can make the necessary repairs, but I also believe (and believed) that making any changes was and is going to be very very difficult.

One thing you can say for sure, deleveraging is a bitch. Regulating corrupt markets is going to be barely possible. Ending wars is always harder than starting them. Then you have Medicare, SS just over the horizon.

Have a nice day.

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