Finallly YOU said it and have agreed with ME. I’ve been heaping swords for the last 3 months on all the WALL STREET CROOKS…let them all be SHOT like they do in China.
Do destroy the banking system and LEAVE INNOCENT HARDWORKING AMERICAN FOLKS IN DESPAIR….THEY SHOULD BE SHOT OR HANGED…PUBLICLY….ALL OF THEM….get Sandy Weil, John Roth (Nortel)…hell I’ll do the shooting.
We as traders….take on the big boys with our measly OWN money and take the risk and try to make money. WAll Street with all their EDUCATED MBA BUFFONS..PARTY WITH OTHER PEOPLES MONEY.
When will the American people ever wake up and realize Wall Street and all those Educated Buffons/Idiots/Fools have never traded a futures contract and they no nothing about making money in the Biggest PONZI scheme called the STOCK MARKET…..a la THE GREATER FOOL THEORY!!
Yes, Rick you are correct….IF THEY ONLY SUBSCRIBED TO RICK ACKERMAN….Fuld, Pandit, Liddy, et al would have saved their sorry A**e* from total destruction…..
Oops…NONE OF THOSE JOKERS I MENTIONED….ever traded a FUTURES contract!!!
Yes,
obmanMar 18, 2009 @ 2:42
yall know that some of this dough comes back to geithner and paulson’s buddies right ?
TKOMar 17, 2009 @ 21:03
“It’s alive!” proclaimed Dr. Frankenstein Pandit, proudly indicating a profit for Citibank for the first months of the year. How much of this “profit” was pumped into the zombie via Tarp and AIG or by some other financial alchemy, only a dedicated forensic accountant with a Top Secret Security Clearance could discern. The full court press is on: Fireside chats with Ben “Main Street Boy” Bernanke; resurrecting the auto and banking industries from suspended animation; smoke and mirror overcompensation campaigns for the simple minded, and trillions for foreign banks. More than enough to send the nervous shorts to the exits.
Near term, the relative strength of gold, and in the medium term, cycle lows in the S & P will determine whether investors have truly suspended disbelief.
tompaineMar 17, 2009 @ 21:21
Grasso. Does anybody believe that $180 million or whatever it was wasn’t pure payola for his turning a blind eye to all the shenanigans going on. What else could he have done that would have been worth that much to anybody?
&&&&
When I worked on the PSE floor, Tom, as far as anyone could tell, the CEO’s job was taking VIPs to lunch. Appearances on the floor by Shirley Temple Black, and also by Jose Feliciano, were the highlights of the decade.RA
IMHO , Obama needs to get rid of Lawrence Summers and his side kick Tim Geitner. These two are just to close to the whole mess to do anything meaningful.
RichMar 17, 2009 @ 16:07
The problem with socialism is you quickly run out of other peoples money….;
Nowhere do we see that better than the People’s Republic Of California, once 8th largest economy in the world, now almost broke.
Aloha All
PATCO firing of August 1981 apt reminder Clarence Dow fell for another year.
RR at first barred them from Federal Employment for Life, his futile effort to downsize government.
Maybe Labor Secretary Ray Donovan’s later legal problems were payback….
But the really interesting economic consequence of RR labor busting was the Dollar, GDP growth, budget balance and real wages all peaked a few years later with the Free Trade (Not Fair Trade) wholesale export of jobs and the import of subsidized illegals, which by now confirmed with our contracting economy America and most American workers indeed worthy of hire: http://www.shadowstats.com/alternate_data
Re AIG traders, are monopoly media pulling yet another Three Card Monte?
First, we do not know if derivative traders who ruined AIG got bonuses. CEOs if not Boards who oversaw that were relieved of command as was proper.
Second, newest AIG CEO Liddy came from success spinning Allstate out of Sears, modernizing and doubling it. He gets a buck a year as AIG CEO, probably options, with no bonuses or pay-raises for the top 50 execs. He reviewed these bonuses before they were awarded and agreed in November no taxpayer bailout money would pay any bonuses, hello Accuracy in Media: http://www.marketwatch.com/news/story/aig-ceo-liddy-get-1/story.aspx?guid={B7FECEC8-B780-48E9-90F3-6EBD212DD0D5}
Third, loud newsplash re a hundred sixty five million in bonuses distracted us from the brutal fact hundreds of billions, if not trillions of taxpayer dollars went to speculators on the other side of trades at GS, DB, BCS etc, not exactly arms length transactions, considering Treas Sec Paulson (and Rubin) were CEOs of GS, one did not pay taxes on $480 M of GS stock sold into T Bonds, and the other rode C down to a penny stock. Where are the criminal prosecutions of those in charge who gave/took billions in bonuses for their poor performance?
Fourth, Barney and other purple dinosaurs of Congress apparently think it ok to violate the Constitution, pass retroactive clawback laws, rewrite their own bailout bill and break legal employment contracts in London and elsewhere, extremely dangerous precedents appealing to mob chaos and not Mr Liquid Market.
We suspect Congress may just add the bonuses to the taxpayer bill to be settled later, perhaps in another administration.
Meredith Whitney resurfaced today sans Oppenheimer to counter Smiling Neutron Jack on CNBC by suggesting writedowns, unemployment and defaults have nowhere near peaked. (JW suggested yesterday le Affaire AIG could be handled by TreasSec Geithner reasoning with the AIG CEO as an implied member of the AIG Board with 80% taxpayer ownership.) Oh how complicated a web we weave when first we practice to deceive, or mix free markets with socialist politics.
And now Russia’s meeting OPEC, the head of the ECB says helicopter spending does not work, Dr Doom says Treasuries are a disaster waiting to happen, and Ben Bernanke promised economic recovery by the end of the year or so on 60 minutes.
So we bought FAZ for a little funny money with a STOP just in case the best Technical Analyst on the Street according to Institutional Investor is right we’re due for the best bounce in 100 years…
Regards*Rich
&&&&&
Ah, more Amazing Facts from the Rich-ster! Thanks once again for broadening our point of view. RA
cameroniMar 17, 2009 @ 5:47
Oh My God,… Are they kidding us?
This story about AIG is really one of the most manipulative Red Herrings of the year. And no, Rick I do not mean your article specifically. I am talking about the story itself as told on every news station on my cable package. This is really over the top. And the self-professed indignation from Washington. You could almost suspend reality for awhile and believe the nonsense we are being fed is well intentioned and that the good guys are about to ride into town and light a fire under those bums. I hurt myself laughing about it tonight. If you allowed yourself some “wriggle room” you could almost believe they were well intentioned.
But it is nonsense of course and we will collectively eat it up. The bonus’s will be paid, no consequence will follow and all the programs will flow as intended. And while most of America debates the pros and cons of an irrelevant “legal” bonus package, the real money will continue to be shifted around behind the “headline story”, well out of the publics sight.
I cannot believe how easily the general public falls for the “media line”. I am astonished how this Red Herring has captivated the nations attention to the exclusion of the bigger picture. Is everyone blind to what is actually taking place? …..
It’ is indeed an MSNBC world we live in isn’t it. If only Cramer were here to give us guidance!!!
(You know I am kidding right?)
Cam
&&&&&
I couldn’t resist demagoguing this story, Cam, because it is too fraught with symbolic importance to die. A shot and a beer says Obama and the rabble get satisfaction.RA
Comments on this entry are closed.
RICK,
Finallly YOU said it and have agreed with ME. I’ve been heaping swords for the last 3 months on all the WALL STREET CROOKS…let them all be SHOT like they do in China.
Do destroy the banking system and LEAVE INNOCENT HARDWORKING AMERICAN FOLKS IN DESPAIR….THEY SHOULD BE SHOT OR HANGED…PUBLICLY….ALL OF THEM….get Sandy Weil, John Roth (Nortel)…hell I’ll do the shooting.
We as traders….take on the big boys with our measly OWN money and take the risk and try to make money. WAll Street with all their EDUCATED MBA BUFFONS..PARTY WITH OTHER PEOPLES MONEY.
When will the American people ever wake up and realize Wall Street and all those Educated Buffons/Idiots/Fools have never traded a futures contract and they no nothing about making money in the Biggest PONZI scheme called the STOCK MARKET…..a la THE GREATER FOOL THEORY!!
Yes, Rick you are correct….IF THEY ONLY SUBSCRIBED TO RICK ACKERMAN….Fuld, Pandit, Liddy, et al would have saved their sorry A**e* from total destruction…..
Oops…NONE OF THOSE JOKERS I MENTIONED….ever traded a FUTURES contract!!!
Yes,
yall know that some of this dough comes back to geithner and paulson’s buddies right ?
“It’s alive!” proclaimed Dr. Frankenstein Pandit, proudly indicating a profit for Citibank for the first months of the year. How much of this “profit” was pumped into the zombie via Tarp and AIG or by some other financial alchemy, only a dedicated forensic accountant with a Top Secret Security Clearance could discern. The full court press is on: Fireside chats with Ben “Main Street Boy” Bernanke; resurrecting the auto and banking industries from suspended animation; smoke and mirror overcompensation campaigns for the simple minded, and trillions for foreign banks. More than enough to send the nervous shorts to the exits.
Near term, the relative strength of gold, and in the medium term, cycle lows in the S & P will determine whether investors have truly suspended disbelief.
Grasso. Does anybody believe that $180 million or whatever it was wasn’t pure payola for his turning a blind eye to all the shenanigans going on. What else could he have done that would have been worth that much to anybody?
&&&&
When I worked on the PSE floor, Tom, as far as anyone could tell, the CEO’s job was taking VIPs to lunch. Appearances on the floor by Shirley Temple Black, and also by Jose Feliciano, were the highlights of the decade. RA
IMHO , Obama needs to get rid of Lawrence Summers and his side kick Tim Geitner. These two are just to close to the whole mess to do anything meaningful.
The problem with socialism is you quickly run out of other peoples money….;
Nowhere do we see that better than the People’s Republic Of California, once 8th largest economy in the world, now almost broke.
Regards*Rich
http://stockcharts.com/def/servlet/Favorites.CServlet?obj=ID3251493
Aloha All
PATCO firing of August 1981 apt reminder Clarence Dow fell for another year.
RR at first barred them from Federal Employment for Life, his futile effort to downsize government.
Maybe Labor Secretary Ray Donovan’s later legal problems were payback….
But the really interesting economic consequence of RR labor busting was the Dollar, GDP growth, budget balance and real wages all peaked a few years later with the Free Trade (Not Fair Trade) wholesale export of jobs and the import of subsidized illegals, which by now confirmed with our contracting economy America and most American workers indeed worthy of hire:
http://www.shadowstats.com/alternate_data
Re AIG traders, are monopoly media pulling yet another Three Card Monte?
First, we do not know if derivative traders who ruined AIG got bonuses. CEOs if not Boards who oversaw that were relieved of command as was proper.
Second, newest AIG CEO Liddy came from success spinning Allstate out of Sears, modernizing and doubling it. He gets a buck a year as AIG CEO, probably options, with no bonuses or pay-raises for the top 50 execs. He reviewed these bonuses before they were awarded and agreed in November no taxpayer bailout money would pay any bonuses, hello Accuracy in Media:
http://www.marketwatch.com/news/story/aig-ceo-liddy-get-1/story.aspx?guid={B7FECEC8-B780-48E9-90F3-6EBD212DD0D5}
Third, loud newsplash re a hundred sixty five million in bonuses distracted us from the brutal fact hundreds of billions, if not trillions of taxpayer dollars went to speculators on the other side of trades at GS, DB, BCS etc, not exactly arms length transactions, considering Treas Sec Paulson (and Rubin) were CEOs of GS, one did not pay taxes on $480 M of GS stock sold into T Bonds, and the other rode C down to a penny stock. Where are the criminal prosecutions of those in charge who gave/took billions in bonuses for their poor performance?
Fourth, Barney and other purple dinosaurs of Congress apparently think it ok to violate the Constitution, pass retroactive clawback laws, rewrite their own bailout bill and break legal employment contracts in London and elsewhere, extremely dangerous precedents appealing to mob chaos and not Mr Liquid Market.
We suspect Congress may just add the bonuses to the taxpayer bill to be settled later, perhaps in another administration.
Meredith Whitney resurfaced today sans Oppenheimer to counter Smiling Neutron Jack on CNBC by suggesting writedowns, unemployment and defaults have nowhere near peaked. (JW suggested yesterday le Affaire AIG could be handled by TreasSec Geithner reasoning with the AIG CEO as an implied member of the AIG Board with 80% taxpayer ownership.) Oh how complicated a web we weave when first we practice to deceive, or mix free markets with socialist politics.
And now Russia’s meeting OPEC, the head of the ECB says helicopter spending does not work, Dr Doom says Treasuries are a disaster waiting to happen, and Ben Bernanke promised economic recovery by the end of the year or so on 60 minutes.
So we bought FAZ for a little funny money with a STOP just in case the best Technical Analyst on the Street according to Institutional Investor is right we’re due for the best bounce in 100 years…
Regards*Rich
&&&&&
Ah, more Amazing Facts from the Rich-ster! Thanks once again for broadening our point of view. RA
Oh My God,… Are they kidding us?
This story about AIG is really one of the most manipulative Red Herrings of the year. And no, Rick I do not mean your article specifically. I am talking about the story itself as told on every news station on my cable package. This is really over the top. And the self-professed indignation from Washington. You could almost suspend reality for awhile and believe the nonsense we are being fed is well intentioned and that the good guys are about to ride into town and light a fire under those bums. I hurt myself laughing about it tonight. If you allowed yourself some “wriggle room” you could almost believe they were well intentioned.
But it is nonsense of course and we will collectively eat it up. The bonus’s will be paid, no consequence will follow and all the programs will flow as intended. And while most of America debates the pros and cons of an irrelevant “legal” bonus package, the real money will continue to be shifted around behind the “headline story”, well out of the publics sight.
I cannot believe how easily the general public falls for the “media line”. I am astonished how this Red Herring has captivated the nations attention to the exclusion of the bigger picture. Is everyone blind to what is actually taking place? …..
It’ is indeed an MSNBC world we live in isn’t it. If only Cramer were here to give us guidance!!!
(You know I am kidding right?)
Cam
&&&&&
I couldn’t resist demagoguing this story, Cam, because it is too fraught with symbolic importance to die. A shot and a beer says Obama and the rabble get satisfaction. RA