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Superb NY Times Story Tells How U.S. Economic Leaders, Particularly Greenspan, Failed To See Possibility of Derivatives Chain Reaction
Response to post #5: And don't forget the costs of the war that we never paid for, until now the hard way that is. No one seems to want to talk about the costs of the war on the real wealth of America, and it's impacts on Wall/Main Streets today. Where is a Roosevelt or a Churchill when we need someone to focus us on doing the right things with a sense of urgency? There most certainly is no one in Washington at the moment. The fact is that we have no political and intellectual leaders to deal with this today.— October 9, 2008 3:29 p.m.
Superb NY Times Story Tells How U.S. Economic Leaders, Particularly Greenspan, Failed To See Possibility of Derivatives Chain Reaction
I still can't get used to the quantity QUADRILLION DOLLARS, but Greenspan is most certainly hoist on his own petard, giving an entirely new meaning to his fingerpointing admonition "irrational exuberance" making him a greater windbag than politicians in both parties who acted like his sycophants for two decades through Reagan, G. H. W. Bush, Clinton and Butthead Bush administrations. This proves that there has been absolutely no leadership in Washington for decades, and neither McCain nor Obama has made true leadership statements yet.— October 9, 2008 11:46 a.m.
For First Time in Ten Years, Consumers Pay Off Debt. This Will Probably Result in Contraction, but Is Actually Positive
Thanks for some good news for a change, coming from you this could be a leading indicator of bottoming out at last. Maybe the fear and panic lemming mentality will be brought under control by consumers, because the current Capitol Hill Hearings on corruption and greed that has been controlling Washington demonstrate we have had no leadership for far too long. Now let’s hope that consumer/voters will choose to eradicate republicans in Washington on Nov. 4 to teach all of our politicians a lesson that we’re not taking their corruption and greed ethic anymore.— October 8, 2008 2:50 a.m.
SEC Should Discipline Three Officials Who Interfered with Gary Aguirre's Insider Trading Investigation, Says Inspector General
One more example of Wall/Main Streets regulating the federal government for the last eight years because of the republican sellout of America, electing republicans has been the same as committing treason against American Democracy.— October 7, 2008 1:28 p.m.
Stocks Down 3% to 4%, after Plunging 8%. Markets Take Bath Overseas, Too
Actually we must stop selling ourselves out, stop acting like lemmings. There are opportunities to be bought that haven't been around for a long time. But at least stop the self-destructing and start thinking. Any alarmist advice is pure B.S. and works against the interests of the investing public at this point.— October 7, 2008 12:45 p.m.
Stocks Down 3% to 4%, after Plunging 8%. Markets Take Bath Overseas, Too
American investors are in a lemmings over a cliff mode because we have no leadership and our educational system has failed to teach us how to think our way out of problems before they become disasters. We have learned through Scam Diego that majorities of voters allow their intelligence to be insulted far too easily, thus we have failures in the White House and City Hall like Bush and Sanders, along with a congress and city council full of failures in an age where no one is held accountable for deaths, destruction and financial failures that our elected politicians have caused. So today no one knows whom to believe and far too many leaderless people around the world are in a panic mode that can only produce self-destruction of the wealth of nations, all of which is preventable if only we had true leadership. Buffett says now is the time to buy, which he is doing, and he is the best role model we have at the moment.— October 7, 2008 2:14 a.m.
San Diego continues to reward bad behavior
Response to post #31 RE: "Pension funds must be invested safely. Already, such funds are taking too many risks." I always find it interesting how aggressively California government employees fight investing in state and local governments they work for. They know exactly how corrupt and incompetent the state and local governments are.— October 4, 2008 11:32 a.m.
San Diego continues to reward bad behavior
Response to post #28: Speaking of bailouts, how about Gov. Schwarzenegger's warning to Treasury Secretary Paulson on Thursday that the state might need an emergency loan of as much as $7 billion from the federal government within weeks? And then there are also the escalating San Diego budget failures. Why don't California state and local government employee retirement funds like CalPERS dedicate their funds to investing in the future of California, San Diego, etc. by bailing out the people of California?— October 4, 2008 12:59 a.m.
San Diego continues to reward bad behavior
Response to post #25: Yesterday and today shall go down in history as the two days that the U.S. Congress and the White House sold out American Democracy, both democrats and republicans betrayed every American. The historical lesson that nations always fail because of failures of political and intellectual leaders to meet the challenges of change defines our fate. Ike's gravest fears about America's future have now been realized now that lobbyists have total control over the U.S. Congress, and the dreams of our nation's founders have been betrayed.— October 3, 2008 12:20 p.m.
San Diego continues to reward bad behavior
Response to post #17: Don, as you well know more than most, Wall Street could very easily bail itself out if it really practiced what capitalists preach, Invest In America. Specifically, there are $Trillions available to strengthen Wall/Main Streets from the Forbes 400 Richest American list, like the Waltons who export hundreds of thousands of jobs out of America to maximize their profits. And from corporations that have received $Trillions in tax break windfalls since Bush entered the White House, like the oil companies alone could do it. Buffett should show some true leadership himself by forming a Coalition To Bail Out American Capitalism. But the truth is that all they want to do is maximize their greed at the expense of the American taxpayer regardless of the destruction they cause to American families. And that is the republican legacy.— October 3, 2008 2:02 a.m.