Posted on 04/13/2008 8:59:34 AM PDT by TigerLikesRooster
Ping!
For they have sown the wind..........
bttt
Will settle for 10 cents on the dollar.
Mail check to: ST, P.O. Box ....
Poor babies...
A billion here, a billion there, pretty soon you’re talking about real money.
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."~~Ludwig von Mises
Next quarter they will find another $ 5 billion. Then in the next quarter they will recompute and restate losses again under some esoteric accounting rules. Then in 2009 they will wake up to reality (after the economic numbers come in). Somebody will be urging the bank to write everything off and get it over with. So then they will declare about 50% of it all at once.
Hoping against hope they can hide the other 50% of toxic trouble for another three years.
I remember CEO of Chrysler Lee Iacocca taking one dollar a year salary until Chrysler's problems were fixed.
Glad to see Wall Street CEOs doing the same.
Wot?
"They're not."
They're Not?
"They're not."
Oh. Never mind.
Toddster, that is why folks are gathering pitchforks, boiling tar, collecting their feathers and getting all likkered up. You continue to protest the innocence of your friends. That will do nothing to save their sorry souls. They are guilty. Of what. Well of the seven deadly sins we can heap lust, gluttony, greed and pride on their heads. They attempt to justify this by acccusing their accusers of sloth and envy, but sloth would be impossible. Those guys sitting in Park Ave. condos did not get their wealth through physical labor. The hard work was all done by hard working Americans. They just managed to get the rewards.
Envy????? That is what you call it when you want justice against those who undermined what used to be a sound economy through malinvestment based on a bunch of get rich quick schemes.
Wrath. No. We will leave their sorry souls to god.
Folks keep wondering if we are at a bottom. The bottom is only in after the bulls capitulate and there is no sign that the bulls have yet capitulated, but it must be like Chinese water torture for them.
I think that socializing the risks and privatizing the rewards is a bad idea.
You continue to protest the innocence of your friends.
Which friends did I say were innocent?
They are guilty. Of what. Well of the seven deadly sins we can heap lust, gluttony, greed and pride on their heads.
Well, there you go.
Wrath. No. We will leave their sorry souls to god.
Good idea. Does that mean you'll stop whining?
LOL!
Hey, I got a great idea. Why don’t we put up billions to originate loans requiring no documentation or collateral. Well give them to illegal immigrants too.
But don’t worry. We will make sure we spread the risk around so everything will be ok, but lets make sure we keep a lot these loans in house as an investment.
Is there incentive to care about the risk? Why should I care about such things. I still keep all my bonus and severance money if I get pushed out.
You want to elect Hillary or Obama? Just get the American voter outraged at Wall Street thievery and over compensation for jackass executives who lose money but have the corporate board in the back pocket.
That’s how you elect a Democrat this November who will jack up capital gains and a host of other taxes. PLUS even more insidious Obama has come out demanding that income above $97500 have Social Security taxes levied on it. Right now it is capped at $95,000
That's right. Only jackasses get themselves appointed executives at Citi and Merrill.
Right now it is capped at $95,000
Where were you when it was capped at 80K?
Whatever it is ..... You wise guys will rue the day your moronic greed got Obama elected. Though I think McCain will get elected
They are actually discovering money gone in excess of the 100 billion $ in bonuses they siphoned off over the last three years. Time to start checking their lunch pails.
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