Larry Kudlow of CNBC Reporting of Emergency Federal Reserve Meeting Tonight

CNBC television | 7/23/2002 | Larry Kudlow

[rumrunner]

Larry Kudlow mentioned that the Federal Reserve may be meeting tonight to discuss the exposure of Citibank and JP Morgan Chase to derivatives and the stock market collapse.

Possible that both banks have billions of derivatives that need to be unwound. Would collapse the banking industry.

[#3Fan]

! It's the dead voting, even more than the Unions, in Chicago.

Exactly. That stuff doesn't go on down here like it does up there.

It's also the paid minorities and the limosine liberals.

Right. That stuff doesn't fly down here.

Don't attempt to lecture me, on this; I lived in Chicago, for 17 years and knew all about it, long before I even moved there. I probably was more tired of paying for social parasites, before you were even born / out of diapers, than you are now. I know all about everything you've decided to enumerate upon, and so do most FREEPERS. This is NOT the place to assume that you know it all / everything / have to " educate " the masses.

It's not a matter of education, it's a matter of knowing that the private sector can only support so many people in the government efficiently. Every year there's a fewer percentage of private sector workers. There is a point where the system will not support more people going into government, just like 200-1 PEs were as far as that could go.

You and the rest of the tinfoil crowd, who pop up every so often, claiming that there's going to be an " insurrection ", or every Conservative should / will move someplace else, just gives our enemies reason to ridicule us.

I didn't say there was going to be an insurrection. Show me where I said that.

It's baseless , banal, juvenile, purile, totally meritless, and if you think it's fun, then don't wait, go out and do it.

I'm not a rebel, it's against Romans 13. Vengeance belongs to God in cases like these. If He decides to take vengeance on the parasites and liars, I'll know where I'll go, like I said. Otherwise I wait and do what I can.

Otherwise, all you are doing, is making a fool of yourself and doing harm to this site. Is this what you REALLY want to do ? Think about it. :-)

People will decide who is the more foolish, one who looks at a situation and contemplates all possible outcomes, or one who dismisses the laws of human nature thinking that everything will continue as they have for decades, even though history is full of examples of sudden change brought about by injustices.

[#3Fan]

You didn't answer my question, by the way. The taxpayer will have to bail out JP Morgan to the tune of trillions probably. Rubin is the one that made these 700-1 derivitive positions possible. That ain't no big deal to you?

[nopardons]

Again you swipe, with far too broad a brush! I doubt that voter fraud is centered in ONLY Dem majority districts / towns / cities.

You weren't invoking GOD, when you made your original statements; don't do so now.

Your proposals were irrational, been posted here before, been deleted by Jim, himself, and asked to NOT be posted in the future.

Yes, indeed, lurkers / readers will see what's been posted and be able to call a spade, a spade; just as I was able to do.'Nough said, dear. LOL

[nopardons]

Yes, it's a " big deal " ; however, it's nothing new. This has happened time and time and exhaustively, time again. What ... you think that this is the first time this has happened ? This has happened so many times, in this nation's history, that it's no surprise. People knew ( speculated upon, as it was THE only way that the bubble could have been sustained ! ) that this was the case, when it was happening.

What's the point of having a hissy fit now ? There isn't a thing that you can do about it. Perhaps you should read up on Market history, and venality, before you use today's problems as something unusual / peculiar.

BTW, J.P. Morgan ( the man and hjis bank ! ) pulled the coals out of the fire, so to speak, at the behest og the government, during several Panics and attempted to help, during the Crash of '29.

[#3Fan]

Again you swipe, with far too broad a brush! I doubt that voter fraud is centered in ONLY Dem majority districts / towns / cities.

I bet it mostly is. The Democrats are the party of liar Clinton, treasoner Clinton, lying Daschle, abortioners, convicts, the Kennedys, lying professors, Hollyweird, etc. What's vote fraud to those type?

You weren't invoking GOD, when you made your original statements; don't do so now.

I can do what I want. You told me to be a rebel, I told you why I won't.

Your proposals were irrational, been posted here before, been deleted by Jim, himself, and asked to NOT be posted in the future.

I didn't propose anything. Show me where I did.

Yes, indeed, lurkers / readers will see what's been posted and be able to call a spade, a spade; just as I was able to do.'Nough said, dear. LOL

When the bill comes due for the trillions Clinton and Rubin squandered away in their derivitive reelection schemes these posts will be mild.

And I'll ask again: Are you just going to happily pay these trillions and say "boys will be boys"?

[#3Fan]

Yes, it's a " big deal " ; however, it's nothing new.

This is new. $45 trillion is many times more than GNP. Better hope these can be reduced without massive defaults.

This has happened time and time and exhaustively, time again. What ... you think that this is the first time this has happened ? This has happened so many times, in this nation's history, that it's no surprise. People knew ( speculated upon, as it was THE only way that the bubble could have been sustained ! ) that this was the case, when it was happening.

Yes, markets decline many times, but a political party (the Democrats) have never risked 4 times the GNP on a money scheme.

What's the point of having a hissy fit now ? There isn't a thing that you can do about it. Perhaps you should read up on Market history, and venality, before you use today's problems as something unusual / peculiar.

I think you need to read this thread. This thread isn't about the market decline, it's about a $23.4 trillion derivitive position that may bring down JP Morgan. One company has more than two times GNP invested! You think that goes on all the time?!

BTW, J.P. Morgan ( the man and hjis bank ! ) pulled the coals out of the fire, so to speak, at the behest og the government, during several Panics and attempted to help, during the Crash of '29.

That guy is dead. There was a new guy running the show and it was FOB Rubin.

[nopardons]

I didn;t tell you to be a " rebel "; you did that on your own.

I never said " boys will be boys ". What I asked of you, was a) what are you going to do about it? b) Not to talk about this, as though it is something new and tatally unheard of . c)go learn some history.

Sooooooo, only Dems / Liberals are corrupt, steal elections, commit any type of voter fraud ? Not so. Unfortunately, there have been / are rotten apples on both barrels. The Dems ; however , seem to have a majority of these types, though. :-) You really , really, REALLY need to learn some history. No one debate with someone, who is utterly unfamiliar with the topic and replies emotionally.

Since you are so fond of questions, let me put one to you . Instead of the Fed trying to do something , and perhaps forstalling a major DEPRESSION and BANK FAILURE, would you prefer to have both ?

Please explain why it is, that you can't remember what you have written, and need me to repost what you have said.

Kindly stop twisting what I post, to suit your benighted and peculiar postions. Also, do learn how to use modifiers. :-)

[nopardons]

When you finally read up on American, not to mention banking and Market history, I'll be able to engage in debate, with you. Until that time ( and it would really help, massively, if you also understood that money is proportional, to the time frame ), we're through, finished, completed, done with this banal exchange. There's absolutely NO sense in continuing . :-)

[#3Fan]

I didn;t tell you to be a " rebel "; you did that on your own.

Show me where I said I was going to be a rebel. You said "go out and do it". I told you why I won't.

I never said " boys will be boys ". What I asked of you, was a) what are you going to do about it? b) Not to talk about this, as though it is something new and tatally unheard of . c)go learn some history.

You act as if this is a normal occurance. It's not normal for one company to risk twice the GNP on a Democratic party reelection scheme.

Sooooooo, only Dems / Liberals are corrupt, steal elections, commit any type of voter fraud ? Not so. Unfortunately, there have been / are rotten apples on both barrels. The Dems ; however , seem to have a majority of these types, though. :-) You really , really, REALLY need to learn some history. No one debate with someone, who is utterly unfamiliar with the topic and replies emotionally.

Show me where I said that "only" liberals are corrupt. I'd give it 4 to 1 though.

Since you are so fond of questions, let me put one to you . Instead of the Fed trying to do something , and perhaps forstalling a major DEPRESSION and BANK FAILURE, would you prefer to have both ?

I love my country, my state and my financial prospects for the next few years. I don't want depression or bank failure. I believe that if a few trillion has to be wiped off the books because of this Clinton-Rubin scheme that there is a possibility of turmoil. Will this turmoil result in secession? I doubt it, it would be too bloody. Will this turmoil result in a neo-New Deal? I think it's likely. Can the private sector support a neo-New Deal? If it couldn't in the 30s, then I don't think it can now, and therefore if there is a neo-New Deal, I think there will be 20 years of hell, just like there was after 1929. WW2 was a result of depression, don't forget. The Dems and the lying media got us into this by not holding Clinton responsible for his actions leading to worse and worse crimes. How will middle America like bailing these liars out yet again, we'll see. If they can wind these derivitives down with no massive bailout, then these points are moot.

Please explain why it is, that you can't remember what you have written, and need me to repost what you have said.

What did I forget?

Kindly stop twisting what I post, to suit your benighted and peculiar postions. Also, do learn how to use modifiers. :-)

You're the one twisting, saying I've made proposals, saying I said "only" liberals lie, etc.

[#3Fan]

When you finally read up on American, not to mention banking and Market history, I'll be able to engage in debate, with you.

OK, then tell me when a company has risked more than twice the GNP on their investments.

Until that time ( and it would really help, massively, if you also understood that money is proportional, to the time frame ), we're through, finished, completed, done with this banal exchange. There's absolutely NO sense in continuing . :-)

Money is also proportional to positions held contemporaneously. There are 5000 major companies in the U.S.. For one to control assets equal to twice the GNP shows a definite imbalance.

[Uncle Bill]

"These are the kinds of pals the Rubins of the world have. They're not worried. The rest of us can sell apples, it will still be lobster and champagne for them. They are untouchable, or as they say, "borders and laws are for the little people."

Some may think you're kidding.

Gore Chairman Met With Spies
"Newly released documents show that recently appointed Gore campaign chairman, Commerce Secretary William Daley, met in October 1997 with a firm reported to be "an intelligence-collection front for China."

The documents show that Daley met with Chinese billionaire Li Ka-Shing during a closed luncheon sponsored by the powerful investment firm Goldman Sachs. Li Ka-Shing's company, Hutchison Whampoa, currently operates the two ports on the Panama Canal, the Pacific port of Balboa and the Atlantic port of Cristobal.

The meeting was held onboard Goldman Sachs' boat, Monkey's Uncle, as part of an informal "talk" between Daley, Li and several "influential business people." Participants in the meeting included a "Mr. Duo" from China Resources, a firm reported to be "an agent of espionage -- economic, military, and political -- for China.

..Goldman Sachs' New York press office also refused to comment on the 1997 meeting onboard the Monkey's Uncle. The powerful investment firm used to employ former Clinton Cabinet member Robert Rubin. Defense intelligence sources allege that Rubin, while still serving as treasury secretary for President Clinton, also attended the 1997 meeting. Rubin is not listed on official documents as attending."

---

We're the Democrats, we're for the little guy

[nopardons]

Smoot- Hawly, the Panics in the latter part of the 1800's, the ones which preceeded the '29 CRASH, WWI, " TEAPOT DOME ", various and varied " corning the Market " scandals, bank closures / failures ( prior to 1929 ! ) , the " ROBBER BARONS " , the rash of forclosures, in the early, and again in the mid 1800's, late 1700's / early 1800's voter fraud, early sesession threats & saber rattlings( early 1800's ... NOT the South; but 1839 rattlings from Calhoun !),and at least 50 other things, which I can't be bothered to educate you on. Go do a Goggle search.

Y-A-W-N ! You may " love this country "; but you don't know her history. You may be looking forward to your own prosperity ; however , you won't have one, if there isn't some common sense finally interjected, and quickly, over the ravings of the media, the fear mongering Dems, and those , like you, who LOVE to talk nonsense.

Now, good night. This has run more than its course. You haven't refuted anything , that I've said, you keep showing how little you know and understand about any of this, and you haven't a sound , clear,nor decisive alternative / suggestion. Halt and desist from this silliness; please.

[backhoe]

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[snopercod]

The dominos are teetering. And all because of California's power problem last year.

I'm not sure what you are implying. Are you proposing that the Enron debacle caused banks to buy derivatives?

Please elaborate.

[snopercod]

Check out R'44. The plot thickens.

Let's take a minute to recall that the following banks are involved in bailing out California:

"Six Wall Street firms, including Morgan Stanley, J.P. Morgan, Lehman Brothers, Salomon Smith Barney, Goldman, Sachs, and Banc of America, were among the successful bidders."

...for California's Revenue Anticipation Warrants.

[snopercod]

Thanks for posting all this good stuff.

[snopercod]

Economic growth in the first quarter was about 6%...

Then why are sales tax receipts down about 5% in just about every state in the Union?

[snopercod]

Interesting thread to cheer you up. I have said before that America is on the brink of fascism already. All it needs is a good economic disruption. See: Post #85 and recall that the Nazi "25 Points" were penned the same year: 1923.

[tm22721]

This is all being engineered by the democrats.

BUMP

[#3Fan]

Smoot- Hawly, the Panics in the latter part of the 1800's, the ones which preceeded the '29 CRASH, WWI, " TEAPOT DOME ", various and varied " corning the Market " scandals, bank closures / failures ( prior to 1929 ! ) , the " ROBBER BARONS " , the rash of forclosures, in the early, and again in the mid 1800's, late 1700's / early 1800's voter fraud, early sesession threats & saber rattlings( early 1800's ... NOT the South; but 1839 rattlings from Calhoun !),and at least 50 other things, which I can't be bothered to educate you on. Go do a Goggle search.

Again you're bringing up scandals that are affordable. When has a company risked twice the GNP of the United States in their investments?

Y-A-W-N ! You may " love this country "; but you don't know her history. You may be looking forward to your own prosperity ; however , you won't have one, if there isn't some common sense finally interjected, and quickly, over the ravings of the media, the fear mongering Dems, and those , like you, who LOVE to talk nonsense.

So you dispute the 23.4 trillion derivitive position of JP Morgan? It doesn't exist?

Now, good night. This has run more than its course. You haven't refuted anything , that I've said, you keep showing how little you know and understand about any of this, and you haven't a sound , clear,nor decisive alternative / suggestion. Halt and desist from this silliness; please.

This conversation started because a few of us realize that the government can't cover a possible bailout that's more than twice the GNP of the United States without turmoil. You say this stuff is run of the mill. Show me where in history one comapany has risked more money that this nation exchanges in two years.