Obama..total cave in to the banskstas upon taking office<<
>>And so we come back to where we started—the decision not to go after Goldman Sachs. Normally, the Justice Department doesn’t comment on its pending investigations. But for Goldman, the rules are different. Justice issued an unusual statement saying the firm wouldn’t be criminally charged, as prosecutors didn’t believe they could meet the burden of proof necessary to win a trial. Earlier last week, Goldman disclosed that the SEC wouldn’t be pursuing criminal charges against the firm, despite having issued Goldman a “Wells notice” of its investigation. Dropping an investigation after issuing such a notice is not altogether unprecedented-- but is also rare.
Things weren’t always this way. During the savings and loan crisis of the late 1980s, banks were allowed to fail, prosecutions were undertaken, and executives and employees were jailed. Even after the popping of the dot-com stock bubble in 2000, prosecutors chased after cheating companies and their executives. Officers of Adelphia, Enron, WorldCom, to name a few, ended up doing significant jail time.
The current failure to prosecute means that banks will continue to pursue risky policies. Bankers continue to get paid based on results, and there’s so
much to gain from a successful risky bet, and so little to lose from a bet gone bad, particularly if the taxpayer is there to pick up the tab.
In America, if you misuse food stamps, and you get caught, there’s a good chance you’ll lose your benefits, and you might even go to jail. If you rip off the Medicare system, commit tax fraud or perpetrate identity theft, federal prosecutors will throw the book at you. But if you’re part of a multi-billion dollar enterprise that misleads investors and lies to Congress, you’re like the trophy fish that’s caught and released. You’re off the hook.<<
Another ratio here--taking this weak time in the market, which I anticipate to last through next Monday to accumulate some TGLDX--also buying some more of the Am Century Small Cap Growth through at least Monday--got less than 100 shrs of SAGG today--have orders in lots of less than 100 shrs going down. They usually don't report these buys on Yahoo or Stockcharts.com. I guess its chump change to them.
It is all bad.<<
Not for TV and radio companies :).
I am reading the second of the three Churchill books by W. Manchester--the third will be released later this year--finished by somebody else--Mancheseter died a few years ago. We are in a similar situation as the UK was in the 1930's when they had deplorable leaders like Stanley Baldwin and Neville Chamberlain (he of Munich). Churchill resigned from the cabinet in the early 30's because of a dispute over India. He didn't get back in until the war, but he shadowed the gov't all the way.
Obama is of course not one of these British politicians, but the total cave in to the banskstas upon taking office, the manipulation of the markets and reappointing Benron will do our nation as much harm in the end--I hope you don't take that as an endorsement of anyone--I am unenthusiastic about all of them.
The weekly points to 18.60<<
Not a surprise:
>>But now Boston Fed president, Eric Rosengren, has just predicted our central bank will not only cease paying interest on excess reserves, but will also commit to an open-ended form of counterfeiting. He believes QE III should be results orientated in that the Fed should obligate itself to continue to print money until the unemployment rate and nominal GDP hit their--yet to be named--specified targets. <<
Open end counterfeiting will not end til Benron is gone, and that would also mean that Obama is gone. Until then I can think of not much else than fading bonds and the US dollar, buying PMs and cultivating weeds (or maybe just weed, for medicinal purposes you understand). :).
Have a good evening. > Fox reports tonight that Obama super pacs may resort to adds about Mormonism and may go so far as to suggest it to be a cult religion,
if things get bad enough in the obama relection numbers.
They are trying to factor in the backlash effects in advance in making such a decision.
It is all bad.
uup> does not like the lower BB very much...it usually comes right off it, if not then a day or two later.
Yes it was my fault.
ac says 1410 and 1407 could help form a minor wave 3 down...and then go up.
"We will see tomorrow."
If 1376 or so is broken, then he expects a retest of 1267.
Have a good evening.