Heidi's Bar (Understanding Derivatives):

Way too much to talk about here, so I'll let somebody else do it. Matt Taibbi of Rolling Stone magazine wrote perhaps the best piece so far covering the fall of Wall street.

http://www.rollingstone.com/politics/story/30481512/wall_streets_naked_swindle/print

And I REALLY want to know why we can't find that SOB that made 270 million on a 1.7 million investment in nine days. If that wasn't insider trading, I'm a fish.

Mike Mc Wrote:
-------------------------------------------------------
> Way too much to talk about here, so I'll let
> somebody else do it. Matt Taibbi of Rolling Stone
> magazine wrote perhaps the best piece so far
> covering the fall of Wall street.
>
>
>
> And I REALLY want to know why we can't find that
> SOB that made 270 million on a 1.7 million
> investment in nine days. If that wasn't insider
> trading, I'm a fish.


I read that some time ago, very interesting ...

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As always IMHO

SEAN TENNIS KF7JJR
SEATTLE, WASHINGTON
SAAB 99, SAAB 850
SAAB V4, SAAB 99T

JVL, it was in the media many times per year if not more, starting back when Clinton admin really stepped it up ... How anyone could have missed it is beyond me !

Oh and the same Barney Frank is the Bank Czar ... how does that make you feel ???

edit for spelling ...

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As always IMHO

SEAN TENNIS KF7JJR
SEATTLE, WASHINGTON
SAAB 99, SAAB 850
SAAB V4, SAAB 99T



Edited 2 time(s). Last edit at 04/09/2010 06:52PM by SEANT.

Banks get a bailout because they're not going to be able to pay their bills.
GM/Chrysler get a bailout because they're not going to be able to pay their bills.

If these companies aren't bailed out, they will be forced to live with the consequences of their actions.

Meanwhile, the American public, can't pay it's bills RIGHT NOW.

The bank isn't even willing to discuss the matter until the homeowner has BEEN unable to pay his bills for at least three months. Even then, they drag their feet, lose paperwork, can't get their story straight, generally don't give a shit, before putting people out on the street.

GM/Chrysler are still repossessing cars and trucks as far as I know too.

Somebody should DO something, but it's not MY job.

Why don't we just give everyone a million dollars, bankrupt the government, and get this post-democracy, martial law, socialist dictatorship party started. We've become a country where responsibility only comes into play when we're looking to place blame. Nothing is ever anyone's fault, nobody's feelings can ever be hurt, and everyone gets a trophy.

It's unsustainable and it's disgusting.

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Brian Driggs | KG7KCA | PHX, AZ | 89 Pajero
alterius non sit qui suus esse potest



Edited 1 time(s). Last edit at 04/12/2010 02:41PM by DR1665.

Chrysler paid their loans back - it's a done deal.

On the other hand, the trade mags we get tend to not come back to us for a long period of time. This was in the August '09 issue of something-or-other so maybe this is common knowledge.

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Pete Remner
Cleveland, Ohio

1984 RX-7 (rallycross thing)
1978
Silence is golden, but duct tape is silver.

Pete Wrote:
-------------------------------------------------------
> Chrysler paid their loans back - it's a done
> deal.
>
> On the other hand, the trade mags we get tend to
> not come back to us for a long period of time.
> This was in the August '09 issue of
> something-or-other so maybe this is common
> knowledge.
>

You sure about that, Pete? As of December, they hadn't paid back a dime and even went so far as to announce that the money had been loaned to "OldCarCo LLC," which was still in bankruptcy. "New" Chrysler does not owe that money and would not be paying it back.

GM, on the other hand, received over $60Bn, only about $6Bn of which was actually a loan. The rest was a stock purchase by everyone here who pays taxes in the United States. Maybe, when/if GM stock recovers, Uncle Sam will cash in, but what would happen if the majority share holder were to suddenly cash in all his shares? There goes GM stock back into the toilet.

Please, sir, may I have another?

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Brian Driggs | KG7KCA | PHX, AZ | 89 Pajero
alterius non sit qui suus esse potest

I don't believe you can even buy GM stock right now, ypu, not selling at all...

http://finance.yahoo.com/q?s=gm

Basically, if you own a share, it's worth $0.75, but you can't sell it or trade it,
pretty fancy toilet paper...

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SteveL
This is the point in the killing spree when you really should turn the gun on yourself