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MrBillM
Platinum Nomad
Posts: 21656
Registered: 8-20-2003
Location: Out and About
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Mood: It's a Zip-a-Dee-Doo-Dah Day
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Lebanese and Otras ?
No Se ?
WHAT Mick is it offering financial wisdom ?
Take care there since, when listening to a Son of Erin, it's likely guaranteed NOT to be SOBER advice.
As to the Camel-Jockey Counsel, since we KNOW that's not Joe, no worries.
In fact, NOBODY is Joe. Whatever he IS, he ISN'T. Just ask.
Start by asking Jihad E. Salman in Temple City who Joe is. Or, Mazen, Haifa, Bahige, Faisal.
They won't know either.
Joe is only a Vaporous Chimera created from many "grotesquely disparate" sub-human parts.
Or, so I heard.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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| Quote: | Originally posted by mtgoat666
barry,
you approach is sound, but you are probably in unique position with a govt pension to fall back on. most people don't have defined benefit pension
plans to fall back on when wall st robber baron brokers game the market next time to fleece their clients.
nothing like selling mortgage-backed securities to your investment clients at same time you are betting on the securities to fail -- real win-win
scenario there! |
Thanks, Goat----I appreciate that.
Yes, we each have very different circumstances, but I hope I never have to live off my Fed. pension alone ($1,423 net per month) as I get no Social
Sec., and my wife's SS is only about $433 a month.
It's funny, I never faulted that "win-win" situation you refer too, with I think Goldman------it's called "hedging your bets" and it never surprised
or upset me that they could be making moves to recoup losses in specific instruments while they sold those same instruments based on them making money
for their clients----A bank will sell what the clients want, but they have to protect themselves also-------tis the nature of the Banking business,
and makes good sense (tho it does "look bad" to the lay-person, apparently). Again, it was a "hedge" (i.e. protection )------and many do it,
including me. I only invest in Gold long-term as a Hedge to help stableize my portfolio, not really to make money------worked good lately. In
unstable Markets you HAVE to assume anything might happen, and prepare regardless of what "you think" will happen. Right??
barry
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JoeJustJoe
Banned
Posts: 21045
Registered: 9-9-2010
Location: Occupied Aztlan
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Mood: Mad as hell
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I wouldn't exactly call what Goldman Sach did was hedging it's bets. What it did was cover it's rear end while it sold some of it's best customers
crap that it knew was toxic. The crime was not disclosing that information to it's clients.
These banksters belong in jail, but instead they only got their wrists slapped for show:
________________________
Here's the CliffsNotes version of the scandal: Back in 2007, Harvard-educated hedge-fund whiz John Paulson (no relation to then-Treasury secretary and
former Goldman chief Hank Paulson) smartly decided the housing boom was a mirage. So he asked Goldman to put together a multibillion-dollar basket of
crappy subprime investments that he could bet against. The bank gladly complied, taking a $15 million fee to do the deal and letting Paulson choose
some of the toxic mortgages in the portfolio, which would come to be called Abacus.
Why Isn't Wall Street in Jail?
What Paulson jammed into Abacus was mortgages lent to borrowers with low credit ratings, and mortgages from states like Florida, Arizona, Nevada and
California that had recently seen wild home-price spikes. In metaphorical terms, Paulson was choosing, as sexual partners for future visitors to the
Goldman bordello, a gang of IV drug users, Haitians and hemophiliacs, then buying life-insurance policies on the whole orgy. Goldman then turned
around and sold this poisonous stuff to its customers as good, healthy investments.
Where Goldman broke the rules, according to the SEC, was in failing to disclose to its customers – in particular a German bank called IKB and a Dutch
bank called ABN-AMRO – the full nature of Paulson's involvement with the deal. Neither investor knew that the portfolio they were buying into had
essentially been put together by a financial arsonist who was rooting for it all to blow up.
Read more: http://www.rollingstone.com/politics/news/the-feds-vs-goldma...
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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--------and Goldman's side of the story is (????????)
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mtgoat666
Select Nomad
Posts: 18385
Registered: 9-16-2006
Location: San Diego
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Mood: Hot n spicy
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| Quote: | Originally posted by Barry A.
--------and Goldman's side of the story is (????????) |
legal, but morally indefensible
moral of the story: never trust advice from broker, they have no fiduciary duty to you.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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Hmmmmmmmmmm, Goat, maybe you are right. Never used a "broker" so don't really know.
Moral: "Beware the brokers in our lives", I guess. 
Sometimes I think a tiny few of NOMADS are that way, too. 
barry
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Iflyfish
Ultra Nomad
Posts: 3747
Registered: 10-17-2006
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| Quote: | Originally posted by Barry A.
--------and Goldman's side of the story is (????????) |
"It's the profits stupid"
The purpose of Corporations is to make money. period
The only protection consumers have it the legitimate role of the government to regulate these Corporations. period
Pretty simple really.
Iflyfish
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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| Quote: | Originally posted by Barry A.
--------and Goldman's side of the story is (????????) |
Barry, Barry, Barry. This Goldman Sach's story has been told over and over and over again. Where have you been? You sound like this is the first
time you have heard this.
Maybe you need to hear Bernie Madoff's side of the story, or Kenneth Lay's side of the story? I don't know, maybe you need to hear Charlie Manson's
side of the story before you can use your oh so deliberative judgement on what has been common knowledge to both sides of the liberal to right wing
spectrum.
First you posit excuse after excuse not to study the issues, hide behind ignorance, then you pop off with this inane response. Unbelieveable!
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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| Quote: | Originally posted by MitchMan
| Quote: | Originally posted by Barry A.
--------and Goldman's side of the story is (????????) |
Barry, Barry, Barry. This Goldman Sach's story has been told over and over and over again. Where have you been? You sound like this is the first
time you have heard this.
Maybe you need to hear Bernie Madoff's side of the story, or Kenneth Lay's side of the story? I don't know, maybe you need to hear Charlie Manson's
side of the story before you can use your oh so deliberative judgement on what has been common knowledge to both sides of the liberal to right wing
spectrum.
First you posit excuse after excuse not to study the issues, hide behind ignorance, then you pop off with this inane response. Unbelieveable!
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Yes, I ALWAYS want to hear both sides of the story before I make up my mind-------my legal training, I suppose, and a pre-disposition that way. I
read HELTER-SKELTER to understand what the "Manson" situation of all about, etc. etc..
My point, Mitch, is that both sides of a story should IMO be presented when there is an accusation, especially of this magnitude and nastiness!!!
Yes, I have long known the "story" (duh) and there IS a Goldman side of all this--------you, and millions of others may not like or except that story,
but it DOES exist. I heard it, and yes, I believe that it is plausable and understandable what Goldman did. That does not meen I condone it, but it
CERTAINLY is not the abomination that most seem willing to believe.
This "thread" is long overdue for being moved over into OT if you ask me, and I am mostly responsible for that. We are just head-butting now, it seems
to me.
Barry
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mtgoat666
Select Nomad
Posts: 18385
Registered: 9-16-2006
Location: San Diego
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Mood: Hot n spicy
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happy halloween!
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Mengano
Banned
Posts: 1238
Registered: 9-26-2011
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mtgoat666
Select Nomad
Posts: 18385
Registered: 9-16-2006
Location: San Diego
Member Is Offline
Mood: Hot n spicy
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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Goat, you're the man.
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
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Mood: optimistic
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| Quote: | Originally posted by MitchMan
Goat, you're the man. |
Maybe, but he is the "sick man" for sure.
I wish all the OWS protestors were as peaceful as that confused beauty tending her pumpkins.
Barry
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MitchMan
Super Nomad
Posts: 1856
Registered: 3-9-2009
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While, characteristically, you have no knowledge of whether or not the young lady is confused about anything, you voluntarily choose to disparage and
undermine her peaceful expression; that's a kind of malice, Barry.
However, there's no confusion about the right wing's selfish undemocratic 'wish' that OWS protesters be muted, softly and silently pack up and go away
instead of their emphasizing and publicly pointing out and condemning the immoral greed of those certain Wall Streeters that nearly caused the total
collapse of the financial sector and the nation's economy.
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
Member Is Offline
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Mitch: Your words are as full of Bull Puckey as you are!!
The Economy of this Great County has not Collapsed!!!
The Financial Sector is still in Great Shape!! There is a small Blub in the Housing Sector, Loan markets etc.
I donot Wish that anything happens to the Dumb Nuts trying to make a poit as Wall Street Occupants!
They do not have the brains or Guts to get anything accumished in their Childess ways.!
Poor Peaceful Expression{ Throw Rocks and Dirt, and spitting on Policemen}They should all be Soundley Whipped in the public Square and sent Home to
their Mothers.!!!
Skeet
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wessongroup
Platinum Nomad
Posts: 21152
Registered: 8-9-2009
Location: Mission Viejo
Member Is Offline
Mood: Suicide Hot line ... please hold
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http://tinyurl.com/4ywhhl3
64 year old janator laid, off with prostrate cancer.... should any consideration be given to an American citizen... before and illegal immigarant...
just asking...
Would appear to me... this guy should be first in the line... drop the Dream Act... for the Government payment to illegal's for college's degree's ...
and give this poor bastard some help...
[Edited on 11-1-2011 by wessongroup]
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mtgoat666
Select Nomad
Posts: 18385
Registered: 9-16-2006
Location: San Diego
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Mood: Hot n spicy
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skeet, what is your advice to this guy?
| Quote: | Originally posted by Skeet/Loreto
Mitch: Your words are as full of Bull Puckey as you are!!
The Economy of this Great County has not Collapsed!!!
The Financial Sector is still in Great Shape!! There is a small Blub in the Housing Sector, Loan markets etc.
I donot Wish that anything happens to the Dumb Nuts trying to make a poit as Wall Street Occupants!
They do not have the brains or Guts to get anything accumished in their Childess ways.!
Poor Peaceful Expression{ Throw Rocks and Dirt, and spitting on Policemen}They should all be Soundley Whipped in the public Square and sent Home to
their Mothers.!!!
Skeet |
what about this protester, skeet?
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Barry A.
Select Nomad
Posts: 10007
Registered: 11-30-2003
Location: Redding, Northern CA
Member Is Offline
Mood: optimistic
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| Quote: | Originally posted by MitchMan
While, characteristically, you have no knowledge of whether or not the young lady is confused about anything, you voluntarily choose to disparage and
undermine her peaceful expression; that's a kind of malice, Barry.
However, there's no confusion about the right wing's selfish undemocratic 'wish' that OWS protesters be muted, softly and silently pack up and go away
instead of their emphasizing and publicly pointing out and condemning the immoral greed of those certain Wall Streeters that nearly caused the total
collapse of the financial sector and the nation's economy. |
The "pot calling the kettle black"???
I intended no "malice"----you are "assuming" that, which in itself is a negative reaction. I in no way "disparage" or "undermine" that peaceful young
lady------to the contrary, it is a beautiful picture.
I have eyes, Mitch---------and I see her there in the picture & am making an assumption since she obviously is a OWS--------in my opinion, she
would not be there unless she is "confused". I know of no "right wingers" that are calling for "muting" the OWS protestors, NONE!! Where you getting
that one, Mitch? ( or are you just assuming that one?). I actually don't have any opinion of the OWS folks other than I mostly don't agree with much
of what they are yelling, and I generally personally don't like these types of demonstrations, but in no way want them to lose their rights to do it.
I do wish they would think ahead and clean up (litterally) their act tho.
Cheers, Barry
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Skeet/Loreto
Ultra Nomad
Posts: 4709
Registered: 9-2-2003
Member Is Offline
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Goat;
It is plain and simple: He is a Liar with a Trumped up set of Bull Puckey. Printed on a sign that the media will pick up and spread around. Goat you
should know better thatn to beleive all the Puckey that is trown about.
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