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Buffett's "time bomb" goes off on Wall Street
derivatives ^ | Sep 18, 2008 | James B. Kelleher

Posted on 09/23/2008 11:09:15 PM PDT by dickmc

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To: wastoute

and what’s more, Raines and Gorelich need to be in orange jumpsuits ASAP


21 posted on 09/24/2008 8:31:35 AM PDT by wastoute
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To: Maynerd
Unfortunately, many people (conservatives) don't understand the problem and blithely believe the markets will solve everything. That attitude did not work in 1929 and it likely won't work today.

The markets weren't allowed to work in 1929 (or before or after). Since we aren't allowed to have a 19th century style panic, our future is serious inflation or a Japan style on and off recession for a decade or two. I don't like any of those choices either, but those are the only choices.

22 posted on 09/24/2008 8:36:57 AM PDT by palmer (Some third party malcontents don't like Palin because she is a true conservative)
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To: politicket
If they seek to go after bad debt they will be looking at $5 trillion to $8 trillion easily.

Yes. I think that's why Paulson's legislation said "mortgage-related" and not "mortgage backed" or something more specific. That said, if Treasury is clever enough they can leverage 700B to buy a couple trillion in face value while still protecting the financial system. But the taxpayer tab could still end up being a few trillion regardless.

23 posted on 09/24/2008 8:41:02 AM PDT by palmer (Some third party malcontents don't like Palin because she is a true conservative)
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To: dickmc

Democrat Buffett is enriching himself at the expense of the taxpayer bailout.


24 posted on 09/24/2008 8:43:15 AM PDT by 1Old Pro
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To: TomasUSMC
I posted this graph on another thread - Cox recently stated that Credit Default Swaps are now at $62 Trillion.

We may be toast.

25 posted on 09/24/2008 8:49:27 AM PDT by unique
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To: unique; TomasUSMC
Many on this thread say,...bring it on:

Words To Give You Pause On Today’s Economy ( Can we both fix the economy and punish....)

26 posted on 09/26/2008 9:14:45 AM PDT by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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To: Ernest_at_the_Beach

Many on this thread say,...bring it on:
//////////////////////////////////////////////
X ACT LEEEE
after...
25billion FORD GMC ..wasn’t enough, need more
30billion BEAR .....wasn’t enough, need more
85billion AIG .....wasn’t enough, need more
138billion LEHMAN...wasn’t enough, need more(they tried to hide that one)
200billion FANNIES...wasn’t enough, need more
770billion WHO ELSE? and no one will ask the question,” Will this be the last dollar we have to spend”? ....
...........Because it won’t be.
Spend $700 billion, 5 percent of our gross domestic product?

After all this, I say Hell yeah, BRING IT ON.

RUN ON THE BANKS AND STOCKS and show the demonrats and their wallstreet allies who has the power!

Take your money from THE BANKS AND STOCKS
before
THE BANKS take your money from you.

Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.’’

I intend to rout you out and by the Eternal God I will rout you out. If the people only understood the rank injustice of our money and banking system, there would be a revolution before morning.” —Andrew Jackson,


27 posted on 09/26/2008 9:28:04 AM PDT by TomasUSMC ( FIGHT LIKE WW2, FINISH LIKE WW2. FIGHT LIKE NAM, FINISH LIKE NAM)
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To: wastoute
Just posted this:

Friends of Angelo get new invitations — to a federal grand jury ( Lender to Sen Dodd....)

28 posted on 09/26/2008 9:44:20 AM PDT by Ernest_at_the_Beach (No Burkas for my Grandaughters!)
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