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  • #71,641
  • Mar 5, 2009 11:42am Mar 5, 2009 11:42am
Quoting gammase1
The next attempt to save them from the dreaded nationalisation could be the abolition of the nasty mark-to-market accounting. Talk about shooting the messenger...
The Resolution Trust model should be used. This would avoid nationalization and take care of the toxic assets. Mark-to-market should not be abolished because it could setup a worse situation in the future.

But we digress....Euro topic here.
  • #71,642
  • Mar 5, 2009 11:48am Mar 5, 2009 11:48am
Quoting F.x.
come on 2650
good luck.. 2600- 2611 will be a tough nut to crack...but if it cracks it ill short it..this elevator got a limited amount of trips up
those who can, do. those who cant, talk about those who can
  • #71,643
  • Mar 5, 2009 11:49am Mar 5, 2009 11:49am
Quoting TradeWell
The Resolution Trust model should be used. This would avoid nationalization and take care of the toxic assets. Mark-to-market should not be abolished because it could setup a worse situation in the future.

But we digress....Euro topic here.
Too difficult to accurately value these complex assets, I think. If they are valued fairly to the taxpayer, at current market prices, then it renders many institutions officially insolvent. If they are valued above depressed market values, then taxpayers will be paying an even bigger subsidy to the banks than they would under the terms of nationalisation.

You are right, we have digressed, only slightly though, as these matters do have a huge bearing on currencies....
  • #71,644
  • Mar 5, 2009 11:53am Mar 5, 2009 11:53am
Quoting TradeWell
The Resolution Trust model should be used. This would avoid nationalization and take care of the toxic assets. Mark-to-market should not be abolished because it could setup a worse situation in the future.

But we digress....Euro topic here.
this would be nice... ill be there for round 2.. the continuation...i was there for round one... makes me fell like i was at woodstock *L*
those who can, do. those who cant, talk about those who can
  • #71,645
  • Mar 5, 2009 11:55am Mar 5, 2009 11:55am
Quoting gatorinla
this would be nice... ill be there for round 2.. the continuation...i was there for round one... makes me fell like i was at woodstock *L*
Just nationalise the damn banks. Why are the Americans and Brits so scared to do the necessary, particularly the former? The free markets and light-touch regulation have failed you in a big way. Let's admit it, deal with it and move on properly. There have already been too many half-baked solutions in this saga, during which time the real economy has crumbled in countries across the world.
  • #71,646
  • Mar 5, 2009 11:57am Mar 5, 2009 11:57am
Quoting gatorinla
good luck.. 2600- 2611 will be a tough nut to crack...but if it cracks it ill short it..this elevator got a limited amount of trips up

So gator you don't believe in a "W" on the daily?
  • #71,647
  • Mar 5, 2009 11:59am Mar 5, 2009 11:59am
Quoting F.x.
So gator you don't believe in a "W" on the daily?
There's really nothing to believe in... If you ask me all technicals do is give us possibilities which then can be analysed using probability studies and traded using good money management and risk reward.

Peace
  • #71,648
  • Mar 5, 2009 12:00pm Mar 5, 2009 12:00pm
Quoting gammase1
Just nationalise the damn banks. Why are the Americans and Brits so scared to do the necessary, particularly the former? The free markets and light touch regulation have failed you in a big way. Let's admit it, deal with it and move on properly.
hmmm i thought they were nationalised... what other industry is subsidised by goverment even before this...lets c gov lends them money at .25 and they loan it to the owners of the gov for 28%... its a myth... its like santa clause... you grew up believing in it and now we believe the myth because of conditioning.. we are the zombies not the banks..
those who can, do. those who cant, talk about those who can
  • #71,649
  • Mar 5, 2009 12:01pm Mar 5, 2009 12:01pm
Quoting GrnEydGuy
There's really nothing to believe in... If you ask me all technicals do is give us possibilities which then can be analysed using probability studies and traded using good money management and risk reward.

Peace

True true
  • #71,650
  • Mar 5, 2009 12:03pm Mar 5, 2009 12:03pm
Quoting F.x.
So gator you don't believe in a "W" on the daily?
i dont believe in anything no more...this shit so f-up right now... i dont know man... it was hard to make that level yesterday even with the china myth..i dont know... dont pay attention to me.. im ranting...pull out what you can use and throw the rest away..
those who can, do. those who cant, talk about those who can
  • #71,651
  • Mar 5, 2009 12:03pm Mar 5, 2009 12:03pm
Quoting gatorinla
hmmm i thought they were nationalised... what other industry is subsidised by goverment even before this...lets c gov lends them money at .25 and they loan it to the owners of the gov for 28%... its a myth... its like santa clause... you grew up believing in it and now we believe the myth because of conditioning.. we are the zombies not the banks..
The government is subsidising the banks' shareholders in the rescue plans, namely Citi, at the expense of a crap deal for taxpayers. Nationalise them properly, wipe out shareholders, sort out the balance sheet, inject proper amounts of capital and get them lending again. Realistically, it will take a decade before the nationalised institutions can be sold back to the public sector.

I think you Americans need socialism. Anyway, this is what you seem to be advocating in your post; have the banks as public bodies providing a service for the greater good of the economy, otherwise we you will just have a repeat situation 15 years from now where gains from the financial sector are privatised and losses socialised. Thank god for Obama the socialist.

Take care comrade
  • #71,652
  • Mar 5, 2009 12:04pm Mar 5, 2009 12:04pm
Quoting gammase1
Just nationalise the damn banks. Why are the Americans and Brits so scared to do the necessary, particularly the former? The free markets and light-touch regulation have failed you in a big way. Let's admit it, deal with it and move on properly. There have already been too many half-baked solutions in this saga, during which time the real economy has crumbled in countries across the world.
The free market has not failed. If the country panicked every time we had a recession then that Sickle and Hammer of yours would be flying over Washington DC right now.
  • #71,653
  • Mar 5, 2009 12:09pm Mar 5, 2009 12:09pm
Quoting Doniboy
The Sickle and Hammer of yours would be flying over Washington DC right now.
It soon will be. Your economic model has failed. Thank god for Obama and his left wing socialist-leaning policies.
  • #71,654
  • Mar 5, 2009 12:10pm Mar 5, 2009 12:10pm
Quoting gammase1
The government is subsidising the banks' shareholders in the rescue plans, namely Citi, at the expense of a crap deal for taxpayers. Nationalise them properly, wipe out shareholders, sort out the balance sheet, inject proper amounts of capital and get them lending again. Realistically, it will take a decade before the nationalised institutions can be sold back to the public sector.

I think you Americans need socialism. Anyway, this is what you seem to be advocating in your post; have the banks as public bodies providing a service for the economy,...
We have something here called the Constitution that limits the powers of government because "absolute government corrupts absolutely!" There is no winning scenario here.

Socialization requires the complete destruction of what Americans have learned is their foundation for freedom. So you go ahead and tell the population of the US that no longer are they free to make their own decisions now mommy and daddy government will do it for you.

The problem here is that those who created this situation did it by design. The whole of what is happening is merely an additional step towards a One World Government. Pope John Paul said in his book that he expects to see the first World Government before the end of the decade.

I'm not anti globalism because truthfully we are all one big happy family, but I am ANTI world government. Its time for the sheep to wake up and remember who we are, the true nature of humanity... and it isn't the quest for or the love of or the need for money.
  • #71,655
  • Mar 5, 2009 12:11pm Mar 5, 2009 12:11pm
Quoting gammase1
Just nationalise the damn banks. Why are the Americans and Brits so scared to do the necessary, particularly the former? The free markets and light-touch regulation have failed you in a big way. Let's admit it, deal with it and move on properly. There have already been too many half-baked solutions in this saga, during which time the real economy has crumbled in countries across the world.
split the assets then let some other banks that are strong and wants them bid on them.. no matter what the cost is.. what ever is left over gov takes and liquidates them to whomever wants them no matter the price.. auction is... after that split the rest up and let gov guarenty them and let fannie or whoever service them
those who can, do. those who cant, talk about those who can
  • #71,656
  • Mar 5, 2009 12:12pm Mar 5, 2009 12:12pm
Quoting GrnEydGuy
Its time for the sheep to wake up and remember who we are, the true nature of humanity... and it isn't the quest for or the love of or the need for money.
Wise words, friend.
  • #71,657
  • Mar 5, 2009 12:12pm Mar 5, 2009 12:12pm
Obama on Bloomberg, long Euro!
  • #71,658
  • Mar 5, 2009 12:13pm Mar 5, 2009 12:13pm
Quoting gammase1
It soon will be. Your economic model has failed. Thank god for Obama and his left wing socialist-leaning policies.
Do you think America invented this economic model? You might be right, but the question is WHO and WHEN.

These financial instruments & social programs that have failed (fractional reserve lending practices, social security, medicare etc) were brought to you by the same folks that have been running international banks for CENTURIES and are not the result of some baby country's (thats us U.S.) ideology.
  • #71,659
  • Mar 5, 2009 12:13pm Mar 5, 2009 12:13pm
Quoting gammase1
Wise words, friend.
Thank you!
  • #71,660
  • Mar 5, 2009 12:16pm Mar 5, 2009 12:16pm
Quoting gammase1
It soon will be. Your economic model has failed. Thank god for Obama and his left wing socialist-leaning policies.
LOL...yeah I guess your right...America is no more...we are all doomed...life as we know it is over....

Get a grip.
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