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(Some Guy)   In 2004, SEC exempted five firms from required capital/debt ratio regulations. They are: Bear Sterns, Lehman Brothers, Merrill Lynch, Morgan Stanley, and Goldman Sachs. Ouch   (bigpicture.typepad.com) divider line
    More: Obvious  
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15850 clicks; posted to Main » and Business » on 18 Sep 2008 at 2:34 PM (13 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2008-09-18 11:53:55 AM  
That's why the Pac-10 is a better conference.
 
2008-09-18 11:54:00 AM  
mmmmm... maple pumpkin pie.

[image from gkbledsoe.com too old to be available]
 
2008-09-18 12:05:06 PM  
Nonsense. Deregulating the markets will always lead to greater and greater success, innovation, and ultimate wealth. The wealth will then trickle down to the masses, who will use it to buy houses that will triple in value overnight and provide easy equity that can be tapped to buy into the markets, which will continue to expand because the unregulated financial sector will continue to brim with success, innovation, and wealth. Onward and upward, excelsior!
 
2008-09-18 12:08:01 PM  
It's a new paradigm, and everybody who doesn't buy now will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increases. Renters, and those unlucky enough to be born in future generations, will be will be unable to afford a $10 million starter home in 10 years. They will live in tent cities, and used Hondas. This asset bubble is different than all of the others - it will never slow down or pop. The gains are permanent.
 
2008-09-18 12:14:53 PM  
So how are the other two firms doing these days?
 
2008-09-18 12:15:50 PM  

OlafTheBent: mmmmm... maple pumpkin pie.


DAMN does that look good.

/starving
 
2008-09-18 12:16:24 PM  

mesmer242: So how are the other two firms doing these days?


Goldman and Morgan are both scrambling to find buyers.
 
2008-09-18 12:20:13 PM  

mesmer242: So how are the other two firms doing these days?


I'd advise selling.
 
2008-09-18 12:25:01 PM  
So how are the other two firms doing these days?

I'd advise selling.


You could actually buy them for pretty cheap. The firms I mean.
 
2008-09-18 12:27:46 PM  

I_C_Weener: mesmer242: So how are the other two firms doing these days?

I'd advise selling.


HAHAHA. You think I have money for investments.
 
2008-09-18 12:47:20 PM  
You'll tell your grandkids about what is going on today. You all know about the Great Depression as an historical event. This is the same.
 
2008-09-18 12:50:35 PM  

Pocket Ninja: Nonsense. Deregulating the markets will always lead to greater and greater success, innovation, and ultimate wealth.


The problem isn't deregulation, it's heavy regulation of everyone else. And it's about not letting something die that should die. You want to get too big to take care of your responsibilities, you should be forced to go out of business.

I made the comment that AIG should have kept a rainy day fund (approx 5 quarters of profit) just in case the worst happened. Now it has, they didn't, and the government is giving them a sweet deal to stay solvent.

Here's a hint: If a service is required, and one company that provides it fails, another will step up to do it (and make a profit). That's capitolism, not propping up a poorly run company 'for the good of the economy.'
 
2008-09-18 12:55:41 PM  
D:
 
2008-09-18 12:56:27 PM  

chrisco123: This is the same.


Yes, exactly the same.

meikathon.netView Full Size
 
2008-09-18 1:08:07 PM  

chrisco123: You'll tell your grandkids about what is going on today. You all know about the Great Depression as an historical event. This is the same.


Our grandkids will be as dumb as we are and elect morons who want to deregulate these sorts of industries because they are too busy worrying about gays getting married, abortion, or whatever the new "value voter" topic is to actually care about important issues. History repeats itself because we don't learn from others.
 
2008-09-18 1:16:36 PM  

mesmer242: I_C_Weener: mesmer242: So how are the other two firms doing these days?

I'd advise selling.

HAHAHA. You think I have money for investments.


You have money for fark but you don't have any for investments? I bet you smoke and drink, too.
 
2008-09-18 1:25:46 PM  

baked beans: mesmer242: I_C_Weener: mesmer242: So how are the other two firms doing these days?

I'd advise selling.

HAHAHA. You think I have money for investments.

You have money for fark but you don't have any for investments? I bet you smoke and drink, too.


I was sponsored. I'll go back to being a liter when my month is up. I don't smoke or drink. I have two jobs.

I actually will be starting up a roth IRA in a few months, but I'm still working on getting the minimum for a vanguard account.
 
2008-09-18 2:01:04 PM  
I would LIKE to say, "We dug our own grave," but it would be more accurate to say that the people in POWER dug our grave for us.

ThatGuyGreg: chrisco123: This is the same.

Yes, exactly the same.


It is, at least, very similar. Poorly regulated banking helped bring about the Great Depression, as people weren't able to remain solvent, or pay up for those who shorted the market.
 
2008-09-18 2:17:32 PM  

xanadian: Poorly regulated banking helped bring about the Great Depression


True, but to say the results will be remotely similar is ridiculous.
 
2008-09-18 2:21:02 PM  

ThatGuyGreg: xanadian: Poorly regulated banking helped bring about the Great Depression

True, but to say the results will be remotely similar is ridiculous.


Also true. I guess we'll know for sure if we actually see deflation start to happen. Hasn't happened yet.
 
2008-09-18 2:29:58 PM  
When life gives you poop.
Make poop juice!
 
2008-09-18 2:37:16 PM  
Palined in teh boobies
 
2008-09-18 2:37:34 PM  
regulation is so socialist
next thing you know the government will be owning the companies outright.
 
2008-09-18 2:37:54 PM  
Where's JDAT to blame all this on the Democrats? We're waiting...
 
2008-09-18 2:37:59 PM  
Mmmmm, sweet sweet deregulation...
 
2008-09-18 2:38:02 PM  

xanadian: Also true. I guess we'll know for sure if we actually see deflation start to happen. Hasn't happened yet.


Don't we want deflation? An increase in the buying power of a dollar?

benlonghair: The problem isn't deregulation, it's heavy regulation of everyone else. And it's about not letting something die that should die. You want to get too big to take care of your responsibilities, you should be forced to go out of business.


Agreed. They deregulated and the companies behaved with poor long term vision and ethics, trading stable long-term benefits to all involved for risky short-term benefits for a few. If those responsible were to actually suffer in an obvious and public fashion, they would serve as a wonderful object lesson to everyone else. Instead, what is the lesson we've learned here, kids? It doesn't matter how badly you screw up, you'll be saved.
 
2008-09-18 2:38:18 PM  

Dr.Fey: That's why the Pac-10 is a better conference.


HAHAHAHA!

nice
 
2008-09-18 2:39:10 PM  
Hmmm. The chairman of the SEC is a politacal appointee of which president?
 
2008-09-18 2:39:18 PM  

dillenger69: When life gives you poop.
Make poop juice!


When life gives you lemons, choke on them and die.

/stupid lemon eater
 
2008-09-18 2:40:44 PM  

chrisco123: You'll tell your grandkids about what is going on today. You all know about the Great Depression as an historical event. This is the same.


Sorry kids. It looks like we'll have to put off buying that trampoline for the guest bathroom. And this year, it's Legoland instead of Disneyworld. Times are as hard as they've ever been.
 
2008-09-18 2:41:00 PM  

Shocktopus: Dr.Fey: That's why the Pac-10 is a better conference.

HAHAHAHA!

nice


My thoughts exactly, why do we need to being the NCAA in to this, they didn't do anything wrong...

...idiots in CA and NY using home equity to payoff a mound of credit cards are the reason
 
2008-09-18 2:41:16 PM  
Scary stuff, huh? Goldman Sachs was making insane money, to the tune of 6-figure bonuses (or more) for every employee last year. And yet, suddenly they're not solvent? I didn't actually know that they were in trouble. Curse me for going into the foodie thread!
 
2008-09-18 2:41:31 PM  

DrForrester: Where's JDAT to blame all this on the Democrats? We're waiting...


Clinton appointed Lee Pickard!
 
2008-09-18 2:42:09 PM  

Dr.Fey: That's why the Pac-10 is a better conference.


Win. Thread over.
 
2008-09-18 2:42:29 PM  

palelizard: xanadian: Also true. I guess we'll know for sure if we actually see deflation start to happen. Hasn't happened yet.

Don't we want deflation? An increase in the buying power of a dollar?

benlonghair: The problem isn't deregulation, it's heavy regulation of everyone else. And it's about not letting something die that should die. You want to get too big to take care of your responsibilities, you should be forced to go out of business.

Agreed. They deregulated and the companies behaved with poor long term vision and ethics, trading stable long-term benefits to all involved for risky short-term benefits for a few. If those responsible were to actually suffer in an obvious and public fashion, they would serve as a wonderful object lesson to everyone else. Instead, what is the lesson we've learned here, kids? It doesn't matter how badly you screw up, you'll be saved.


It works for the Jesus Freaks, so why not here?
 
2008-09-18 2:42:30 PM  

mesmer242: I_C_Weener: mesmer242: So how are the other two firms doing these days?

I'd advise selling.

HAHAHA. You think I have money for investments.


I gotta run downstairs and buy 100 shares of AIG for 200$.

Can I walk up to the stock exchange and do that ? They should do that - have a font windows where people can walk up with CASH and buy stocks one stare at a time.
 
2008-09-18 2:42:39 PM  

xanadian: Also true. I guess we'll know for sure if we actually see deflation start to happen. Hasn't happened yet.


Umm, deflation is running rampant.
 
2008-09-18 2:42:58 PM  

Pocket Ninja: Nonsense. Deregulating the markets will always lead to greater and greater success, innovation, and ultimate wealth.


skitzo: This asset bubble is different than all of the others - it will never slow down or pop.


Awesome duo of posts.
 
2008-09-18 2:43:01 PM  

Talon: chrisco123: You'll tell your grandkids about what is going on today. You all know about the Great Depression as an historical event. This is the same.

Our grandkids will be as dumb as we are and elect morons who want to deregulate these sorts of industries because they are too busy worrying about gays getting married, abortion, or whatever the new "value voter" topic is to actually care about important issues. History repeats itself because we don't learn from others.


There are 3 kinds of people in this world:
Those who can learn by watching,
Those lucky few who can learn by reading,
And everyone else, who just have to pee on the electric fence.
 
2008-09-18 2:43:16 PM  
subby:Bear Sterns, Lehman Brothers, Merrill Lynch, Morgan Stanley, and Goldman Sachs

cretinbob: Palined in teh boobies



Holy crap! Even TRIG PALIN could see the above pattern.
 
2008-09-18 2:44:34 PM  

tophergartman: ...idiots in CA and NY using home equity to payoff a mound of credit cards are the reason


OR consumers watching too much HGTV and trying to keep up with the Joneses.

OR banks pushing high-risk mortgage products on customers

OR foreign investors (the ones that bought the debt) wanting something with better income potential than traditional mortgages so that they could beat inflation

OR the fed keeping interest rates too low to drive investors to want riskier products sold?

Take your pick... or as many as you'd like.
 
2008-09-18 2:44:36 PM  

Talon: chrisco123: You'll tell your grandkids about what is going on today. You all know about the Great Depression as an historical event. This is the same.

Our grandkids will be as dumb as we are and elect morons who want to deregulate these sorts of industries because they are too busy worrying about gays getting married, abortion, or whatever the new "value voter" topic is to actually care about important issues. History repeats itself because we don't learn from others.


Don't forget steroids in baseball. That was a real important one for our politicians to be spending time on.
 
2008-09-18 2:44:36 PM  

dillenger69: When life gives you poop.
Make poop juice!


Delicious with both shingles and grass.

/poop juice. made me laugh.
 
2008-09-18 2:44:42 PM  

chrisco123: You'll tell your grandkids about what is going on today. You all know about the Great Depression as an historical event. This is the same.


And their reply will be, "Why you talkin' all tarded? You some kinda fag? Why come you don't have a tattoo?"
 
2008-09-18 2:44:50 PM  
I blame UGA and UF. All the SECs bad decisions come from these cess pools.
 
2008-09-18 2:45:12 PM  

factoryconnection: Scary stuff, huh? Goldman Sachs was making insane money, to the tune of 6-figure bonuses (or more) for every employee last year. And yet, suddenly they're not solvent? I didn't actually know that they were in trouble. Curse me for going into the foodie thread!


Nah, all the others may fall, but Goldman will find a way to keep on keepin' on...
 
2008-09-18 2:45:39 PM  
I swear I'm about a bad cup of coffee away from going Michael Douglas ala Falling Down on somebody.

/f@ck the government - taxpayer-funded corporate welfare should mean that we the taxpayers are entitled to quarterly dividends like any investor.
//bad day - my boss is being the biggest douchebag cocksmoker on the planet right now.
 
2008-09-18 2:46:09 PM  
I lived in California when they deregulated the energy market, much like what is happening to the financial sector, rolling brown-outs and a 20% rate hike followed by another and another was the norm.

Seems like every time we deregulate an industy it crashes and burns.
 
2008-09-18 2:46:34 PM  

brifar: /waiting for somebody to inject something into my accounts
//besides the huge govt dick


Did you not get a stimulus check? It was "something."
 
2008-09-18 2:46:48 PM  

barjockey: I swear I'm about a bad cup of coffee away from going Michael Douglas ala Falling Down on somebody.

/f@ck the government - taxpayer-funded corporate welfare should mean that we the taxpayers are entitled to quarterly dividends like any investor.
//bad day - my boss is being the biggest douchebag cocksmoker on the planet right now.i>

And he knows you typed that.

 
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