Chade on 6/10/2008 at 02:33
Sad but true ...
(Although to be fair to journalists, 3000 words is probably about twice what they usually get. Not that I have ever actually checked how long a newspaper article usually is.)
Scots Taffer on 6/10/2008 at 03:17
It's also humorous given that I know what RBJ's current occupation involves! :p
Chade on 6/10/2008 at 03:27
Oops?
Shockedder on 7/10/2008 at 01:25
Nice documentation RBJ . Unfortunately it all hinges on an unknown parameter : how worthless are the items sold ? You assume that they worth quite a bit ( maybe not what it has been asked for them, but in the same ballpark); my take is that they are highly overblown .
If you add to this the risk that the entity you are lending to may be gone tomorrow, thus leaving you without those money, you have a very nice recipe of frozen market. (yum):)
And hit on the second thing that keeps this crisis running , which is trust.
Trust was furthermore aided by the “market regulation“ safety net, which is currently full of holes, leaving room for ingenious ( but with potential of critical failure if mishandled) banking instruments.
The bailout would give value to some of the mountain of paper in the banks vaults, but would it restore trust ? I don't think so.:confused:
That's why in your scenario, the “bailout“ would make sense, but in mine not so much.
Although the market *is* a herd animal, I wouldn't see you baiting a herd of elephants with a single fig, because that's what the bailout is. :p
Time will tell who was right on the assumption.
Cheers.
Jack Lee on 9/10/2008 at 15:34
We are gonna party like it's 1929... Prince style!
SubJeff on 9/10/2008 at 20:46
Now is the time to buy buy buy shares! Buy it all up.
Starrfall on 9/10/2008 at 21:09
Totally sharing an email forward in this thread (I snickered)
Quote:
INVESTMENT ADVICE If you had purchased $1,000 of AIG stock one year
ago, you would have $42 left. With Lehman, you would have $6.60 left. With Fannie or Freddie, you would have less than $5 left. But if you had purchased $1,000 worth of beer one year ago, drank all of the beer, then turned in the cans for the aluminum recycling REFUND, you would have had $214. Based on the above, the best current investment advice is to drink heavily and recycle.
Thief13x on 9/10/2008 at 21:21
Wall Street's driven me to drinking;)
