What is this idiot doing now??

[mmmmpsi]

Good job Obama..

http://online.wsj.com/article/SB1000...icsNCampaign_2

Result:

http://www.google.com/finance?q=INDEXDJX:.DJI

fucking idiot.

[MachNU]

LOL Doesnt surprise me!

[Total_Blender]

Your graph doesn't show anything out of the ordinary, guy. Trading usually peaks early through the week and tapers off toward the end. We have had 4 or 5 peaks and drops of equal size to what you're so concerned about this month already. Just scroll back on the graph and you'll see. A 200 point drop is business as usual.

Here is the same story spun with the angle of Brown's victory in Mass.

http://blogs.abcnews.com/theworldnew...ll-street.html

Just saying...

[mmmmpsi]

Your graph doesn't show anything out of the ordinary, guy. Trading usually peaks early through the week and tapers off toward the end. We have had 4 or 5 peaks and drops of equal size to what you're so concerned about this month already. Just scroll back on the graph and you'll see. A 200 point drop is business as usual.

Here is the same story spun with the angle of Brown's victory in Mass.

http://blogs.abcnews.com/theworldnew...ll-street.html

Just saying...

That article is based on the drop on the 20th, not today. The reason it dropped was because Brown's victory shows how little faith even a blue state like MASS has in the person that is running this country right now.. THAT IS BAD!! And that is why the DOW dropped on the 20th..

Are you that ignorant?? HE IS PLANNING ON TAXING BANKS IF THEY GET TO BIG?? Last time I checked that's called Capitalism.. All this is attempting to do is get "even" and get public support that he is hitting banks for causing the recession which is complete bullshit.. He's expecting the public to get behind him and say OH YES Mr. Bama, thank you for getting our money back for us.. Dude, WHO do you think is going to be paying the tax?? It's not going to be the banks who are paying it.. it's going to be the people who have to do business with the banks, in other words the general public.. They will increase a fee here and a fee there and maybe raise interest rates etc..

Man people are stupid.

[mmmmpsi]

Finally.. Let me put this is in an explanation you might understand..

Those red bars are bad.. When the red bar drops below the blue line that is REALLY BAD.. The red bars haven't dropped below the blue line since July of 09.. so please don't tell me this is "normal" cause it's not.

[Justin51982]

Finally.. Let me put this is in an explanation you might understand..

Those red bars are bad.. When the red bar drops below the blue line that is REALLY BAD.. The red bars haven't dropped below the blue line since July of 09.. so please don't tell me this is "normal" cause it's not.

I don't know why you try to explain yourself to him, he believes in make believe "facts and figures". To Total Blender, the dems and Obama can do NO wrong. He's 28 going on 12 in his thought process, hence why he was banned a couple months ago. I find it best to ignore him and just scroll on down past his posts. Afterall, why read something with no real substance.

However, fucking wow on yet another poor Obama decision.

[mmmmpsi]

WOW.. making friends all over the world..

Asia Stocks Tumble on Obama Bank Plan
By Joseph Woelfel
Overnight Editor
01/22/10 12:19 AM EST

NEW YORK (TheStreet) -- Stocks in Asia fell Friday after President Obama announced a plan to rein in the risk-tasking for banks.

The declines in Asia follow the drop for U.S. markets Thursday. The Dow Jones Industrial Average dropped by 213 points, or 2%, to 10,390. The S&P 500 dropped 22 points, or 1.9%, at 1116, and the Nasdaq declined by 26 points, or 1.1%, at 2266.

Obama said his administration would work with Congress to ensure that any financial institution that contains a bank doesn't "own, invest or sponsor" a hedge fund, private-equity fund or proprietary trading desk "unrelated to serving customers." The president also said he would work to limit consolidation in the banking industry, which some believe has made certain institutions "too big to fail."

Big U.S. banks took it on the chin Thursday. Bank of America (BAC:NYSE) lost 6.2%, Citigroup (C:NYSE) declined 5.5% and JPMorgan Chase (JPM:NYSE) fell 6.6%.

Bank stocks in Asia, like their U.S. counterparts, fell.

In Tokyo, the Nikkei 225 stock average tumbled 328.28 points, or 3%, to 10,540.13.

As of 12:10 a.m. EST, the Hang Seng index in Hong Kong lost 2.5%, while China's Shanghai benchmark index dropped 2.2%.

[Total_Blender]

I thought that you "anti-federal reserve" folks were against the centralization of banking?

I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

[mmmmpsi]

I thought that you "anti-federal reserve" folks were against the centralization of banking?

I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

This isn't going to protect the customer from anything.. All it's going to do is pass the cost of this tax down to the customer who does banking with this bank..

So what's next?? You're going to tax car companies in the U.S. on top of what they are already taxed on their income, just in case they might go bankrupt and then you can't get your car fixed under warranty??

This is a REALLY REALLY bad idea which you can see the way the markets around the world are reacting to it and I can tell you the same reaction is seen as "What the hell is this guy doing attacking banks, is he not a capitalist?"

[tony]

I thought that you "anti-federal reserve" folks were against the centralization of banking?

I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

They're quoting the stock market as a gauge for success, c'mon now. Meanwhile savvy investors are picking up those panic shares as the idiots hand them over, I was chatting with some other investors about this the other day. Just like the Mass. election was supposed to send the stock market soaring.. I mean if the stock market reacts negatively it must be a bad idea right?

Herbert Hoover didn't have the greatest presidential legacy but one of the best quotes I've heard came from him; the only problem with capitalism are capitalists. Greed will cloud rational judgement.

[Vteckidd]

I thought that you "anti-federal reserve" folks were against the centralization of banking?

I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

You have no idea how banking works or the private sector so I don't out much faith in your statements

[Total_Blender]

You have no idea how banking works or the private sector so I don't out much faith in your statements

Why don't you explain to me, then how having my bank involved in mortgage backed securities and other financial skullduggery is supposed to benefit me as a consumer. ?

[Vteckidd]

Why don't you explain to me, then how having my bank involved in mortgage backed securities and other financial skullduggery is supposed to benefit me as a consumer. ?

why should I? Youre just going to say i get all my info from people with no sources and Glenn Beck.


Many Banks DIDNT TAKE stimulus money or didnt NEED it but the GOVT made them take it anyway. Many banks that took money, had bad assets in their Investment sections not their ACTUAL banking division (where you keep your money). Most of them have paid the money back WITH INTEREST in less than 12 months.

Now, they are going to be PENALIZED for trying to make a profit. Make no mistake about it, you can call it whatever you want, its about the govt telling you how much money you can make.

Who do you think is going to be effected most by he 40% tax he wants? not the banks. itll be YOU in the terms of higher intrest rates, more bank fees, less loans, more fees to trade on wallstreet

dont think fora second the banks will absorb a 40% tax on profits in their financial investment centers and just say "cost of doing business".
This will KILL JOBs more by killing lending, loans, and passing MORE COST onto the consumer

Ill post more when i get home, im late for an appt

[BanginJimmy]

Just like the Mass. election was supposed to send the stock market soaring.

Where do you get this tidbit from?



BTW, the reason the stock market has been taking such a hit lately has more to do with some senators (from both sides) stalling on confirming Bernanke than anything else. Yes these new proposed taxes do weigh on many investors, but as of right now, its just a side note.


And to those that think any corporation is going to eat this tax, you are kidding yourself. They will simply pass it on to customers and common stock holders, just like every other tax that is placed on them.

[Total_Blender]

If you look at the graph at the bottom of the WSJ article posted earlier,you'll see that propeirtary trading accounts lor between 1 and 5% of total revenues of the big banks. So its not like they are making a lot of money at it anyway.

Also, it doesn't attempt to ban proprietary trading, it just says that such institutions can't take federal money. I thought you guys were against bailouts for the companies that caused the problems by trading unscrupulously?

I really don't see whats not to like here, unless you guys are in favor of hedge funds, mortgage backed securities, etc...

[Jaimecbr900]

If you look at the graph at the bottom of the WSJ article posted earlier,you'll see that propeirtary trading accounts lor between 1 and 5% of total revenues of the big banks. So its not like they are making a lot of money at it anyway.

Also, it doesn't attempt to ban proprietary trading, it just says that such institutions can't take federal money. I thought you guys were against bailouts for the companies that caused the problems by trading unscrupulously?

I really don't see whats not to like here, unless you guys are in favor of hedge funds, mortgage backed securities, etc...

You are probably burning a candle in your window in the hope that Air America comes back on the air.....right?

You have no idea how Free Market and Banking and trickle down economics and Capitalist ideas work, do you? The limit of profits is strictly a Capitalist idea. The limit of profits will only cause large corporations to do two things: Pass down the losses to John Q. Public, and have them looking over the fence at the greener grass. Why do you think that companies out source? Is it because they "hate America" as Dems would have everyone believe? In reality it's because we have Gov't that doesn't offer the benefits other countries do to attract and keep big business, i.e. the job providers, in their back yard.

Now, think about it from the stock holder's and decision makers in this world. If you run a multi-billion dollar business, and the Gov't just told you that next year they're going to MAKE YOU lose money out of the gate, what would YOU do? YOUR stock holders want answers, YOUR employees want answers, and more importantly YOUR job is on the line. What would YOU do?

This country was originally founded by people who risked life and death to get away from oppressive Church and even more oppressive Gov't, yet we're going backwards to what?????

[ShooterMcGavin]

what's the matter? these not the changes you were looking for?

[Vteckidd]

If you haven't learned by now that a "tax" on anything right now is BAD then you don't understand fundamental economics

this is a ploy by Obama to get the largely "ignorant" population of lower middle class people to say "oh you greedy wall street bankers I hope you don't make any money". What they don't realize is that these banks loan THEM money, store their money, provide them iras and interest accounts, etc.

Remember Obama saying no taxes on middle class? This will break that promise, along with healthcare in it's past form and cap an trade etc

none of his people realize that taxes at the top trickle down to consumers. It's an indirect tax Econ 101

they also don't realize that they spent 750 billion and have zilch to show for it, how does taxing the banks create jobs? How does it make our financial system better or more safe?

It will make it safe at the expense of prosperity. It wl drive people to depend on the govt more.

Regulation is about checks and balances, not legislating mediocrity

[tony]

Where do you get this tidbit from?



.

Absolute blunder on my part, tanking was the more fitting term.

[Vteckidd]

I think the stock market is still extremely volatile. Confidence is down because people are unsure where this economy is going. This is not bushs recession anymore and Obama isn't taking any sort of ownership or leadership.

The election may have something to do with it but I think it's much more complicated than that. I also think the "bank" tax is doing some damage because if banks get taxed more it means the overall effect is less lending which means less expansion which means less hiring which means less jobs and more or stagnant unemployment

Tony you invest and you are pretty savy would you agree with that assessment?

The market is reacting to things in crazy up and down swings. There's not alot of sound investing going on it seems more about panic and guessing which of course some investing is about. There seems to be no confidence

[preferredduck]

I don't know why you try to explain yourself to him, he believes in make believe "facts and figures". To Total Blender, the dems and Obama can do NO wrong. He's 28 going on 12 in his thought process, hence why he was banned a couple months ago. I find it best to ignore him and just scroll on down past his posts. Afterall, why read something with no real substance.

However, fucking wow on yet another poor Obama decision.

i love it. he would argue with a tree that obama is right. he must watch obamaNN in HD for his news!!!

[preferredduck]

I thought that you "anti-federal reserve" folks were against the centralization of banking?

I see this as a good thing because it will protect consumers by keeping their checking and savings separate from toxic assets like subprime mortgages. And it keeps the FDIC out of involvement in such calamities as well. So if/when an AIG type company were to crash it wouldn't cause a run on the banks.

I know all of you guys have invested your savings into gold bars and crates of 7.62x39, so I guess this doesn't necessarily apply to you.

TOXIC ASSETS ARE NOT REAL!!! it is nothing more than good old direvatives, credit default swaps, subprime mortgage backed sucurities which are all scams!!! they were invented by the bankers to make a killing and they pulled the plug a while back. if you want a one world bank go apply at the IMF and wait for the one world currency too. then you have no rights or constitution. read up on these things. toxic assets are manipulated on the books and equal 1.5 quadrillion, so how do we pay that off, we don't and the big banks win!!!

AIG funnelled the money out the door to goldmans sachs and Mr geitner was a groomed puppet from that company.