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Intel Corporation Message Board

  • someone_knows_something someone_knows_something Feb 27, 2009 7:48 PM Flag

    Danny, are you stuck in an infinite tape loop?

    You've got that Rush Limburger poison spinning around in your head nonstop. Your understanding of the genesis of the current mess is naive at best. There's plenty of blame to go around for both of the ONE parties with the two names. I'd be interested to hear your proposals to deal with the current mess if you can possibly turn off the recording for a moment.

    Seriously, what would you do at this point (other than try to pin the blame on a guy who has been on the job for five weeks)?

    Solutions?

    I can really see being mad about this. It's a fuck job to guys like you and me who acted responsibly. But what is to be done now?

    Should they let Citi fail? All this bailing out of the banks and the investment banks was Paulson's idea.

    All this bickering about whose fault it is is pointless and petty and I'm confident that you're smarter than this.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • not to try to defend politicos at all, but from where i stand, the private sector made more and bigger blunders than the government. the government may have erred in _allowing_ banks and investment banks to take on such leverage levels with undiversified asset bases, but they certainly didn't _mandate_ that suicidal behavior.

    • people start putting in market orders to get out of Mike Rosoft because Mike Dell only earned eighteen cents its time to start taking a good long look at where we are right now in here.

      --------------

      Fwiw, I believe today's Barron's had a very positive article on DELL.
      You may be on to something in here.
      Someone in here called for DELL to rise on the heels of their anemic earnings report and WAS RIGHT!
      MSFT AND DELL may be a screaming buys in here.
      Would be nice to see 2 of the former 4 horsemen come to life in here.
      However, I'd feel better if Windexit was long the Qs in here rather than long.

    • Holding overnight has never been my specialty either, but when people start putting in market orders to get out of Mike Rosoft because Mike Dell only earned eighteen cents its time to start taking a good long look at where we are right now in here.

      While stressful, it can't be more painful than when Merill used to gun me out of my ER2 shorts day after day a couple of years ago by stacking blow off moves on top of each other. Motherphcukers.

      Oh well, who's laughing now?

      Long and strong, friends. Don't be shaken from the tree. Don't be a pussy like Kermit. Long and strong.

    • someone_knows_something someone_knows_something Feb 27, 2009 10:12 PM Flag

      Believe it or not, I did no searching to write that post. I used to have almost perfect recall. That's no longer the case, but my memory is still better than anyone else I know. Even though it must have been a couple of years ago I remembered you talking about RAI. I figured you were bullshitting, but I remembered it anyway.

      As for the HVAC part, it's been mentioned here a few times though I don't recall anyone specifically saying they were in that bidness. I know my way around household plumbing as I have replaced entire residential systems as well as "designed" and installed all the plumbing for the one house I built from scratch.

      Plumbers are not the real men they used to be though. When I was a teenager I helped build a cabin in Michigan where the waste lines were all cast iron with lead and oakum joints. The sheer weight of that stuff is unbelievable (I have since removed a lot of it). Almost any old monkey can solvent weld ABS or PVC, but it still takes a conscientious worker to produce overall results to be proud of.

      Clearly many in the bidness are hurting. My daughter in law called a well respected local HVAC firm to clear her clogged bathtub drain. The guy effed around and made a mess in the bathroom for an hour then told her he was going to have to bust open the kitchen wall to replace the trap at $95/hour. He left my daughter in law in tears and told her he call back to find out when she wanted him to start the work. My wife and I went and bought a $35 auger that I put on my Milwaukee Magnum and I had the thing cleared in 25 minutes.

      I have no problem with people charging a fair price for fixing what needs fixing, but this looked like a case of trying to create work to me.

      Funny thing is, I tried to get my stepson to learn plumbing (he's very intelligent but not particularly smart if you know what I mean). He says to me, "I don't want to deal with other people's toilets." He said it with a straight face even though he's currently working as a high school janitor. Fortunately his wife is intelligent AND smart. She's finishing her degree and taking care of their toddler while he works two jobs (he stepped up to the plate and swallowed his pride when he lost his previous, much higher paying job). When she's done with school and working, it'll be his turn to further his education, and now that he's been scrubbing urinals and scraping gum off the undersides of desks for a couple of years I think he's begun to see the value an education could have for him.

      Anyway, I digress. Nothing wrong with real work. I did a lot of it when I was younger. Motorcycle and then auto mechanic. I enjoyed it for a while and I slept like a baby both from being tired and not having any assets to worry about managing.

      Now I'm just another old codger talking about the good ole daze when men weren't all pussies and women were. Yee hah.

      I hope we aren't heading for another crash. I have never fully recovered from the trauma of the crash of '87, so I'm always very nervous when I'm holding longs over night.

    • But what is to be done now?

      Should they let Citi fail? All this bailing out of the banks and the investment banks was Paulson's idea.
      ------------

      I'm not Danny and I know you're not johhny but allow me to respond....

      Let them fail. I'm 50 years old and it's always been that companies that can't make a profit go under and those that do survive. What's wrong with that?

      There are plenty of good banks out there to take up the slack. This deal with saying no nationalization then come out and take over sux. The markets don't know what to do.... Citi would be trading much higher if nothing was said. Maybe this is the Obama stree test. Test the markets to see what happens. Crazy.

      • 1 Reply to herbal_dude
      • "Let them fail. I'm 50 years old and it's always been that companies that can't make a profit go under and those that do survive. What's wrong with that?"

        I don't think there's anything wrong with that in principle, though it's not true that it's always been the way it was for the last 50 years. Remember the first bailing out of Chrysler? The Savings and Loan fiasco was just a dress rehearsal, then there was LTCM. The Greenspan Put was very real.

        In reality, because the regulators were not regulating, a systemic mess was created, the unwinding of which was apparently untenable to anyone. I only understand in broad strokes the issue of the 60+ billions in swaps, but apparently the decision to let it all sort itself out would have meant a total collapse of the financial system, including the system of payments. You surely realize that the breaking of the buck by The Reserve was the event that caused Paulson to cry Uncle (in a burning theater at that).

        I think the problem was real at the time. As I said in an earlier post, the Fed and/or treasury should have acted directly to liquify the commercial paper market. The TARP was a giant fiasco.

        "There are plenty of good banks out there to take up the slack."

        This is probably true NOW. I really don't know what would have happened if the TARP has been rejected by congress.

        Oh, another thing I thought might work at that time: Get all the players into one room (as they did with LTCM) and tell them that all swaps are being crossed to the extent possible and the rest are written down to zero. Difficult though because of the international scope of this stupidity.

        "This deal with saying no nationalization then come out and take over sux. The markets don't know what to do.... Citi would be trading much higher if nothing was said. Maybe this is the Obama stree test. Test the markets to see what happens. Crazy."

        Yes, the rules need to be clear, and until they are there cannot be any confidence.

        I obviously share your frustration over this. It sickens me that the only "solutions" proposed by both the Bush and Obama administrations reward the wrong doers.

        Many mistakes were made. Rates being too low so that Greenspan could go out on a high note was only one. He also heaped praise on the "financial innovation" (read rebranding of Ponzi) and extolled the virtues of taking out ARMs with rates at 40 year lows. One could think him just inept were it not for the fact that he went on to make a small fortune as an advisor to hedge funds making a killing on the unwinding of the bubbles he created.

        I am so disgusted by all this that I have resolved to pay as little attention as possible to it. Just as I am a price taker in the market, I can only deal with whatever shit these a*s*s*holes throw at us in the way of solutions. As long as they don't really put on a 1/4% tax on trading I'll continue to perform my honorable service of "adding liquidity to the markets at the margin" (in exchange for my fair share of Ken Heebner's clients' money).

        My houses were all bought with cash in the 90s. I have no debt of any kind, nor does my woman. Her adult kids are struggling, but we help them to the extent that we feel is not detrimental to them. We plan to operate as independently as possible.

        It's all a bit complex too. This latest round of crapola shows the necessity for basic, common sense regulation of the financial system. No institution should be allowed to become too big or too important to fail. Since you and I (as well as everyone over on Ben Jones' housingbubbleblog.com) could see this coming two years before the peak, how come it comes as such a surprise to those in power in both of the criminal parties?

        Short answer: they were ALL on the take in one form or another.

 
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