The banks are 4 months ago are practically ALL insolvent. They have more liabilities then assets. They were to risky and made the wrong bets. The entire banking system is colapsing.
The US makes one rule change and ever since everything is just peachy. Banks have been in a 4 month rally. Previous bearish commentary is turning positive, and the rally continues on and on and on.
Is the world really that stupid????
The global financial crisis was caused by the US and now everyone suffers. Yet a single rule changes makes all the banks better over night?
Billions of dollars in profits on a single rule change. A single sign on the dotted line can create billions of PAPER profits?
Unreal, un f'ing real.
Well you just need to watch this brief clip from Canada's business news network (they cover actual stuff) and decide for yourself if it is worth it staying invested:
Here decide for yourself if this should be legal or be banned:
The sad part about the "rule change" is that the rule did exactly what it was intended to do. The rule provided investors with a meaningful measure as to what a company's true asset values are. The rule was implemented as a result of the fall-out from World Comm and Enron. Without the rule, we are back to the days of impending doom with a bunch of World Comms and Enrons (insert banks), the only difference is that investors will be blindsided as each one falls because no one will know what the true values are.
Well and besides that I'm a trader so not tied to any one position... I actually went long GS and BAC this week... but will be out by next week. You see I don't really want the markets to go down but gotta be a realist.
Don't you feel at least a little bit irresponsible to try to make arguments against someone who knows a LOT more than you do about something?
Please learn at least half of what most people here have put in the time and hard work to learn before you try to "debate" them.
I'm sorry if that upsets you, but it really is your problem.
No. I don't think it's a show. All you have to do is listen to the questions they ask the bankers, etc. Granted, such things could be scripted, etc., however, I do not think the average congressman/woman is such a good actor/actress that they could eternally convince me that they really do know nothing about what they are talking about. No actor is that good. They're idiots - for real, I'm sure of that.
Wow now that's taking it to a whole new level of DEEP BS.
Yes the congress are such geniuses that they are actually tricking us into thinking they are idiots so that they can accomplish more amazing things.
All I gotta say is the Community Organizers International (aka ACORN) is paying you (marblz) very well. Where do I sign up to get some of that money for defending incompetence in DC on yahoo?
"A single sign on the dotted line can create billions of PAPER profits?"
Maybe you miss the obvious: A single sign on the dotted line can create billions of PAPER losses too...
"value" is a relative term -capiche?
I'm about to give up my fight on the short side.
I was long FAS when the rule change happened and rode that to $8.00
But I've lost it all going short now FAZ around $5.50 and then selling at the wrong time and buying at the wrong time.
The US is VERY CORUPT to change these rules. At the time of the rule change people thought it was CRAZY they would even consider it. Now no one even talks about it.
eventually the chickens will come home to roost but I suspect most shorts will have been beaten to death. Seems like an eternity that this shit is still stuck on a wall. Spidey powers.
It is unfortunate and sad to be 1 in 10,000 who actually "gets" it, isn't it? Your clear headed thinking is far, far, FAR from the norm. That is your answer; it's that simple - most people are simply idiots. Really.
Study your history, there were a small percentage in Germany, during the Third Reich, that knew exactly what was going on. Most left, with or with out their money, and ended up in pretty good shape. It must have taken guts to leave your country and go to one that you didn't even know the language and start all over again leaving all your relatives behind.