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Posted on 10/10/2008 4:11:43 PM PDT by dynachrome
CNBC.com Henry Paulson --------------------------------------------------------------------------------
“I don't wish to spread alarm on the line people but the big issue confronting the market is I'm afraid the health and sustainability of Morgan Stanley [MS 9.68 -2.77 (-22.25%) ] and Goldman Sachs [GS 88.80 -12.55 (-12.38%) ]," Hugh Hendry, Partner and CIO at Eclectica, told CNBC early Friday. "It is unimaginable that they can be allowed to go, I suspect that they will be nationalized at some point today or over the weekend," he added.
(Excerpt) Read more at cnbc.com ...
I agree it’s not likely. Heck, I’d agree it ain’t gonna happen. I only said he SHOULD do it. It’s the right thing to do.
Paulson has been WRONG so far on everything
Jim Rogers speaks the truth
http://www.youtube.com/watch?v=V6ykXcrgDLo
WOW, That you george? a sorry sight!
If not, then what part of "bear raid" don't you understand? MS became the lightning rod for bear raids as the smallest Investment bank left standing after the successful bear raids on Bear and Lehman.
That was Stanley’s brother JP...
Everyone knew great people at Enron! Probably fewer know great people at Morgan Stanley. Enron and Worldcom corruption was simply a President 'lengthening his shadow' because he could (and lotsa Algore lawyers)! This market may be a continuation of that theme (same President and Treasury Secretary)IMHO! With the final straw being the addition of 'mark-to-market'. Stephen Forbes said it best (on Fox) "If we had 'mark-to-market' in the 1992 recession, 'the Next Great Depression' would have begun then".
Lotsa facts there....deserves a thread of its own, please set one up and give it more play!
....and Soros can be Chairman of the Global Reserve Bank! is that in his new book he was hawking on PBS this week? Methinks you're on to something there....something rotten in the state of Denmark!
1) ACORN abused CRA, forcing banks to provide ‘free’ mortgage money to illegals and other debt abusers through fraud and corruption.
2) ICE chased the illegals out of the country, resulting in foreclosures
3) the other ‘free money’ participants defaulted, expanding the foreclosure pyramid.
Resulting in the collapse of the financial system in the US, bear raids by corrupt hedge funds, bank failures, and expanding the FNM-FRE debt debacle worldwide, with a complicit FASB, SEC, FNM, FRE, and Congress. The only ‘rescue plan’ left will be to fire the thousands of ‘managers’ who engineered this crisis last year in ALL the corrupt government organizations (where is a governmental Sarbanes-Oxley?) promoting ‘mark-to-market’ accounting. Please advise how you intend to proceed with the effort to end these corrupt practices and return the USA to a competitive, limited government, free society. At the very least Repeal Sarbanes-Oxley!
My Best As Aways,
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It doesn't need to be on the front page for the market to realize its happening...why do you think the DOW is in the tank? Leave it to the Republican to wimp out. If McCain losses this election it will be because of the bail-out bill.
I'm sure you meant to say "Soros pawn, Jim Rogers, while studying Mandarin, speaks eloquently for Gorge Soros, so that Soros can promote his latest book on PBS.org"!
Not at all.
I said he speaks the truth. As in “we should not bail out failed institutions. We should let them go bankrupt” truth.
Yes, that is Soros’ position. Soros also would ‘fire Bush, Cheney, and Paulson’. and provide the world with a proper anarchy that he could come in and save! PBS is giving him a proper speaking platform. while his minions show up on CNBC! I agree with you that his agenda is working, but apparently not fast enough for him! I was surprised PBS blatantly promotes this guy! in the middle of the Golden West/Soros/ACORN firestorm! The left clearly is so sure of their landslide victory they can afford a few gaffes.
First of all, this was on CNBC, not PBS.
Second, since you are linking it to Soros somehow and criticizing the message, should I assume that you DISAGREE with the following:
a) the $700b bailout was a mistake
b) Paulsen has been wrong all year
c) we should let these companies go bankrupt and stop giving taxpayer money to private companies.
You, I can only assume, are for more taxpayer funds going to prop up failed institutions and failed managers.
The market may realize it, but most Americans don't. Drudge didn't even make a headline out of it, I figured the least I could do was make sure my fellow freepers saw it.
Sadly, we may have just started down the road of being no different than Venezuela or Russia, which is just another reason for countries and individuals to pull their money from the markets (and into their mattresses).
Bush could allow it to happen, set them back a couple of years, and then ride out the last two months. I mean my gosh, what does he have to lose at this point? Prudent presidential politics? He’s got an Axis of evil, Iran will be the last man standing. N.K. signed off today to get back in line, Iraq has been taken out, and now Iran. I say go for it. the most that could happen is a slightly smaller presidential library in Midland, TX, next to the Society of Tumbleweeds office space.
Actually, I hear Hank Paulson SAY "partial nationalization" - if he's the architect and that's what he thinks it, I think it's worth repeating.
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