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Alliancebernstein Income Fund Message Board

  • turn4up turn4up Oct 5, 2004 12:22 PM Flag

    I used to believe.....

    in Colin Powell, then he turned out to be a buttboy and if not a liar, misinformed or over spun. now, I'm taking a hard look at Gspan, ----hmmmmmm. (or as tug would say, "hmmmmph").

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    • Marvel comics..??,truth....?? is on the way...(LOL!!)

    • Think you're right. It'll be funny some day! But, for now.....

    • there could be a lot of books coming out of this administration. Rumsfeld might get Marvel to help him with his.

    • I'm not worried about us knowing a fraction of the truth, I'm worried about Bush/Cheney/Rumsfeld knowing any of it.

      Latest from Rumsfeld, Rice, and Bremmer would indicate either bad communication among the entire staff, or, worse, irresponsibility in reviewing the facts.

    • Sadly, Colin Powell is "only" Sec of State. He's not the boss, nor in the inner circle. Again, too bad.

      However, he's one of the few sane voices in the cabinet. And, I, for one, am glad he's there.

      I have minor inside info that states he's still there because he's not a quitter, not because of his commitment to Bush. He'll resign immediately upon a Bush re-election--a scary thought.

      Bush, Cheney, and Rumsfeld are chicken hawks, unlike Powell who served long and admirably and asked for restraint.

    • milktoast, that is a classic. no we don't have a clue about the goings on in the whitehouse staff. if I were a political cartoonist it would be difficult not to draw some image of CP, giving shoeshines to Rummy, etc., "yazzaboss".
      someday CP might write a book about his experiences, might be his only redemption....

    • I don't know about the "buttboy" part, but he sure wrecked his career by associating himself with Bush and Co.

      Not sure about your take on the bank article you referenced. What he's saying about bank risk is probably true but not the whole story.
      The banks that are primarily spread lenders have shed a lot of risk by re-packaging ("securitizing") it and selling it to various third parties--including lots of CEF investors.
      So, the risk isn't gone. It's just distributed throughout the system.

      Also, many banks now derive much larger percentages of total earnings from "non-interest income"--mostly, financial services.
      That field looks overcrowded to me.

      There's really no way to make risk disappear. You can only alter the number and type of parties holding any particular bag.

      (Avitnall: I'm kind of busy right now. I'll try to get to BMY and CL tonight. You know, BMY is in Value Line's portfolio "Stocks for Long Term Gains." The chart is a very typical slow base from a waterfall selloff.)

      • 1 Reply to phage1998_992002
      • Unfortunately Colin Powell discovered there is no room for a Rockefeller Republican at the national level. I'm convinced he's always tried to do the "right" thing, including swallowing some of his objections on the grounds that he could do more from inside the Administration than he could from the outside(as in principled resignation). Perhaps the saddest thing of all for him is his compromises will still undoubtedly leave him on the outside looking in even if the Administration gets a second term. A good man eaten alive by the differences between the somewhat political, mostly meritocratic military life, and the mostly political, somewhat meritocratic Washington life. I've no doubt he's had many sleepless nights over where he's had to "live" politically the last three years.

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