Capitalists Fail Again

[Guest A Reasonable Atheist]

I don't suppose I need to go to far into this problem this evening.

 

As usual, the capitalist class, represented by high-risk investment bank Bear Stearns, has run out of room to exploit the market. They are failing from their own incompetence. Firms such as Bear Stearns routinely opposed regulation of their practices, but now demand a bail out from the Federal Reserve Bank.

 

Perhaps the government can give a bailout to the millions of people facing massive debt and foreclosure. No, instead years ago the government passed a bankruptcy bill making it very difficult for an ordinary American to declare bankruptcy, a process that innumerable corporations engage in every year to avoid paying their debts.

 

It seems that what is good for the goose is no longer good for the gander.

 

This is just another example of the failures of laissez-faire capitalism.

[Guest alan greenspan]

I don't suppose I need to go to far into this problem this evening.

 

As usual, the capitalist class, represented by high-risk investment bank Bear Stearns, has run out of room to exploit the market. They are failing from their own incompetence. Firms such as Bear Stearns routinely opposed regulation of their practices, but now demand a bail out from the Federal Reserve Bank.

 

Perhaps the government can give a bailout to the millions of people facing massive debt and foreclosure. No, instead years ago the government passed a bankruptcy bill making it very difficult for an ordinary American to declare bankruptcy, a process that innumerable corporations engage in every year to avoid paying their debts.

 

It seems that what is good for the goose is no longer good for the gander.

 

This is just another example of the failures of laissez-faire capitalism.

 

 

 

BINGO. anyone that thinks we live in a capitalistic system is brain dead. this is like the savings and loan scandal when all the poor people paid to bail out a bunch of well connected thieves, like GWB'S brother. i get a kick out of the the idiot's on here bashing socialists. YOU ARE ONE. you're just too dumb to know it.

[Guest Guest]

Victims of Katrina are still without a home but let's bail out the rich predatory lenders. The loan sharks.

[Guest Guest]

Victims of Katrina are still without a home but let's bail out the rich predatory lenders. The loan sharks.

So let em sink then where do you think that will leave your boss and your job? and yours, and yours and yours, and your brother in north carolina and yours, and your sister in indiana. Getting the picture of course not.

Go ahead root for them to fail dunce.

[Aphoristically Moderate]

I watched MSNBC's Larry Kudlow talking to a bunch of economists this evening. They do admit the hypocrisy of Letting JP Morgan buy out its rival, Bear Stearns and the hypocrisy of the Federal Reserve lending $30 billion (of our money) to the deal, to keep things solvent. It was a sort of "It's too big to fail" situation where other, smaller banks would stop lending money to responsible borrowers if panic spread.

 

It was also discussed that Bear Stearns was made as an example, to show other banks that another institution would be allowed to by them up at only $2 per share if they behaved the same way in the future.

 

However, I also don't have too much sympathy for people who voluntarily decided to live 9 feet below sea level. For years before Katrina, Louisiana received millions in Army Corps of Engineering funds to prevent what happened. "Before Katrina, the Corps was spending more in Louisiana than in any other state, but much of it was going to wasteful and destructive pork instead of protection for New Orleans."

 

http://www.time.com/time/specials/2007/art...1648904,00.html

 

By the time we're done bailing out coastal Louisiana, it may cost us $300 billion. For that kind of money, we would be better off just relocating everybody.

 

http://www.cagw.org/site/News2?page=NewsArticle&id=9316

 

 

[Guest Guest]

So let em sink then where do you think that will leave your boss and your job? and yours, and yours and yours, and your brother in north carolina and yours, and your sister in indiana. Getting the picture of course not.

Go ahead root for them to fail dunce.

 

 

Learn how to read please.

No one was rooting for them to fail.

What's being objected to is the lack of consequences for them when they DO fail.

 

Dolt.

[Guest Guest]

Learn how to read please.

No one was rooting for them to fail.

What's being objected to is the lack of consequences for them when they DO fail.

 

Dolt.

You call me a dolt????

Lack of consequences????

That is laughable let's just start with the fact that those that are the much hated white collar end of that banking company you know the rich ones are looking for work today more than likely. Not to mention that their stock fell from approx: 69.00 a share feb,28th to 2 dollars a share on march 17th. So I would say there is more consequences involved in this one failure than you or all your friends will see in your lifetime.

 

[Guest alan greenspan]

So let em sink then where do you think that will leave your boss and your job? and yours, and yours and yours, and your brother in north carolina and yours, and your sister in indiana. Getting the picture of course not.

Go ahead root for them to fail dunce.

 

 

 

nominee: dumbest post ever.

[Guest alan greenspan]

I watched MSNBC's Larry Kudlow talking to a bunch of economists this evening. They do admit the hypocrisy of Letting JP Morgan buy out its rival, Bear Stearns and the hypocrisy of the Federal Reserve lending $30 billion (of our money) to the deal, to keep things solvent. It was a sort of "It's too big to fail" situation where other, smaller banks would stop lending money to responsible borrowers if panic spread.

 

It was also discussed that Bear Stearns was made as an example, to show other banks that another institution would be allowed to by them up at only $2 per share if they behaved the same way in the future.

 

However, I also don't have too much sympathy for people who voluntarily decided to live 9 feet below sea level. For years before Katrina, Louisiana received millions in Army Corps of Engineering funds to prevent what happened. "Before Katrina, the Corps was spending more in Louisiana than in any other state, but much of it was going to wasteful and destructive pork instead of protection for New Orleans."

 

http://www.time.com/time/specials/2007/art...1648904,00.html

 

By the time we're done bailing out coastal Louisiana, it may cost us $300 billion. For that kind of money, we would be better off just relocating everybody.

 

http://www.cagw.org/site/News2?page=NewsArticle&id=9316

 

 

 

the federal reserve is a privatley owned bank. it loans money to entities all over the world, including the US GOV'T. everyone pays interest. i don't see how the 30 billion could be our money, unless the procedure they are calling for somehow has the fed and gov't working together, thereby making it tax dollars. we would have to borrow it as a country.

 

also, does anyone know if the fed was involved with savings and loan collapse, because i know taxpayer money paid that bill.

[Guest A Reasonable Atheist]

the federal reserve is a privatley owned bank. it loans money to entities all over the world, including the US GOV'T. everyone pays interest. i don't see how the 30 billion could be our money, unless the procedure they are calling for somehow has the fed and gov't working together, thereby making it tax dollars. we would have to borrow it as a country.

 

also, does anyone know if the fed was involved with savings and loan collapse, because i know taxpayer money paid that bill.

 

Actually, the Fed is a quasi-public entity, part private part public, with a Board of Governors appointed by the President.

So, yes, its mostly our money.

[Aphoristically Moderate]

My stock portfolio consists mostly of stock mutual funds, but I do own a couple of NYSE traded stocks.

 

One is Walter Industries, a coal mining company, ticker symbol WLT. Over the last 6 months, I would say that capitalism has not failed me.

 

http://finance.yahoo.com/q/bc?t=1y&s=W...=&c=%5EGSPC

 

The red is the S&P500, the blue is WLT.

 

I also own several hundred shares of Potash Saskatchewan, a fertilizer company, ticker POT. Again, capitalism is doing okay for me.

 

http://finance.yahoo.com/q/bc?t=1y&s=P...=&c=%5EGSPC

 

Red is S&P, blue is POT.

 

Last October, one bcvoicer said they just bought Indevus Pharmaceuticals, ticker IDEV. Capitalism is probably failing him right now.

 

http://finance.yahoo.com/q/bc?t=1y&s=I...=&c=%5EGSPC

 

Scott

[Guest A Reasonable Atheist]

My stock portfolio consists mostly of stock mutual funds, but I do own a couple of NYSE traded stocks.

 

One is Walter Industries, a coal mining company, ticker symbol WLT. Over the last 6 months, I would say that capitalism has not failed me.

 

http://finance.yahoo.com/q/bc?t=1y&s=W...=&c=%5EGSPC

 

The red is the S&P500, the blue is WLT.

 

I also own several hundred shares of Potash Saskatchewan, a fertilizer company, ticker POT. Again, capitalism is doing okay for me.

 

http://finance.yahoo.com/q/bc?t=1y&s=P...=&c=%5EGSPC

 

Red is S&P, blue is POT.

 

Last October, one bcvoicer said they just bought Indevus Pharmaceuticals, ticker IDEV. Capitalism is probably failing him right now.

 

http://finance.yahoo.com/q/bc?t=1y&s=I...=&c=%5EGSPC

 

Scott

 

I was referring to specific capitalists who run high-risk investment banks, oppose regulation, then demand bailouts. It must be nice to have money to invest, unlike most of this nation.

 

[Guest Guest]

I was referring to specific capitalists who run high-risk investment banks, oppose regulation, then demand bailouts. It must be nice to have money to invest, unlike most of this nation.

 

And there you have it...class warfare being waged by another jealous loser who blames everyone else for his statiion in life.

 

Most of this nation could have money to invest if they were smart and weren't consumed by instant gratification and mass stupidity.

 

 

@

[tom]

My stock portfolio consists mostly of stock mutual funds, but I do own a couple of NYSE traded stocks.

 

One is Walter Industries, a coal mining company, ticker symbol WLT. Over the last 6 months, I would say that capitalism has not failed me.

 

http://finance.yahoo.com/q/bc?t=1y&s=W...=&c=%5EGSPC

 

The red is the S&P500, the blue is WLT.

 

I also own several hundred shares of Potash Saskatchewan, a fertilizer company, ticker POT. Again, capitalism is doing okay for me.

 

http://finance.yahoo.com/q/bc?t=1y&s=P...=&c=%5EGSPC

 

Red is S&P, blue is POT.

 

Last October, one bcvoicer said they just bought Indevus Pharmaceuticals, ticker IDEV. Capitalism is probably failing him right now.

 

http://finance.yahoo.com/q/bc?t=1y&s=I...=&c=%5EGSPC

 

Scott

 

I hope you sold WLT today at about the 5ma and secured your profit.

 

 

@

[Aphoristically Moderate]

I don't think I will sell it just because of the volatility from today.

 

Information cited here can go out of date really quick, but as I write this, I can see that WLT is just about where it was 5 days ago.... about $55 per share. The coal mining sector has a lot of money in it right now. Other good sectors to look in are non-metallic mining, gold &silver, crops, fish & livestock, iron & steel, and chemical manufacturing.

 

Of the coal mining sector, WLT still looks like it has the best promise for some long term gains. Other coal companies that rise to the top are Massey Energy (MEE), Foundation Coal Holdings (FCL), Alliance Holdings (AHGP), and Peabody Energy (BTU). Walter Industries seems to be the only one with the stock price moving generally higher for the last 6 months.

 

http://finance.yahoo.com/q/bc?t=1y&s=W...=&c=%5EGSPC

 

The following graph still says it's neither overbought nor oversold in relation to its recent price action.

 

http://research.scottrade.com/public/stock....asp?symbol=WLT

 

I don't look at this stuff everyday, and I have some software that I paid for to look at it a little simpler. However, this free Scottrade software says it pretty good too. Scottrade does say it has moved below its 13 day, moving average line, so maybe it's having a "weak bearish signal." I've seen this before.

 

I'll just keep an eye on it for now.

 

Scott

[Guest JMK]

Some people get rich in any market. It's gambling, you have to be lucky. The point is, the federal government is stepping in to protect the gamblers from the risk they are taking, using our tax money. That is after reducing the capita; gains tax.

 

Huge war debt

 

Devalued dollar

 

Housing bubble

 

Record levels of consumer credit

 

Huge trade unbalance

 

Four or five dollar gas

 

Wealth based on financial manipulation rather than adding value to a product

 

Not to worry

[Guest Henry K]

I forgot

 

Real wages are less than they were a year ago.