Posted on 09/23/2008 2:47:43 PM PDT by dynachrome
(Excerpt) Read more at michaelsavage.wnd.com ...
“Boiler Room”
more like a “bust out” operation.
Warren Buffet to put 5 Billion into Goldman Sachs
http://www.freerepublic.com/focus/f-news/2088873/posts
Hmmmmm.....
I’m off to dinner. Beef stew over biscuits. And beer.
I’ll do my bit to bail out the beer industry!
I’m off to dinner. Beef stew over biscuits. And beer.
I’ll do my bit to bail out the beer industry!
Whoops, double post and I ain’t had any beer yet!
No argument there.
She may have advocated a government "bail out." My contention is that she was giving valuable background information on the whole problem -- information on Lehman Brothers for example that if the public knows will lead to investigations of wrong doings. Make that must lead to investigations.
She was knowledgeable and articulate; gee, I hope she wasn't black, that'd be a "racist" remark. :) Maybe if she had called Lehman Brothers a boiler room operation everything would have been fine. Though what Lehman Brothers was accused of doing is far beyond a boiler room.
Up to now firms could eat their bad paper to make sure of their money funds. Mostly small firms and small amounts were involved.
"[Reserve Primary Fund, a great choice for large brokerage firms to park emergency cash or any other money you might need soon] was forced to price all of its Lehman paper as worthless; as a result, the net asset value of the fund’s shares fell to 97 cents." It broke the "buck."
"Bad paper" at Lehman, Fannie Mae and Freddie Mac is felt throughout the world -- please pay us $700 billion, thanks. . . .
The woman caller at the beginning of the show was right about the shenanigans and the investigations -- according to just broadcast news item.
o m g
Good info
KILL THE BULLSHEET BAILOUT
I like today’s michelle malkin column:
“Screw them
Kill the bailout!”
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