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Peter (Yes, that one)

In article ,
says...

On Sun, 18 Apr 2010 08:22:31 -0400, bpuharic wrote:

On Sun, 18 Apr 2010 01:07:36 -0400, wrote:

On Sat, 17 Apr 2010 21:36:21 -0400, bpuharic wrote:

On Sat, 17 Apr 2010 20:35:49 -0400, wrote:

If your 401k manager's head was a quarter inch out of his ass he knew
the market was crashing soon by 4q 2006

bull****. no one saw it save folks like roubini, etc. hell, t hey
just indicted goldman sachs for fraud because they defrauded some of
the world's most sophisticated investors.

You are talking about the phony derivatives scams, the market would
have crashed without that, it just wouldn't have needed the TARP to
fix it.

correct. but the CDOs...beyond the 'synthetic' ones...went from 1B in
'96 to 60 TRILLION in 2006.

so tell me how you cover that?

There is no way to cover that. The money never existed
The government is trying to fix it by just printing more money.

if the guys who were DOING this **** for a living didnt see it, how
was middle class america supposed to?

They weren't "doing it" if they didn't see this one coming.

ROFLMAO!! if they SAW it coming by committing fraud...what happened to
the professional investors, the rating services, etc, who DIDNT see it
coming??

Lots of people saw the crash in housing and knew the market would
follow that down.
If you can find things I wrote in 2004 you will see I saw it coming.
The prices in housing were simply unsustainable.

you right wingers ALWAYS want to blame middle class america for wall
street's lies and deceptions

No I wouldn't blame anyone but myself for not seeing this crash
coming.

gee. and if you come home one day and find your house burglarized, do
you blame yourself? you're gonna die someday. you gonna blame
yourself?

that's the problem with the right. they never blame criminals...IF the
crooks are rich

I would blame myself for not locking the door and having security
measures in place.
If you are asking what I think should happen to the people who caused
this, throw them in jail.
Obama's answer HIRE THEM as his advisors.!
I am looking at Geithner on TV pontificating about outlawing things he
advocated when he was in charge of the NY Fed and I should be
watching him in an orange jumpsuit pickling up trash on the highway.

I try to be as objective as possible about political matters, so it not
with any malice that I suggest a corollary to having people such as
Geithner and Summers in such high positions in the Obama administration
is that of Werner von Braun as the head of the U.S. space program.
The U.S. employed a number of ex-Nazis after WWII, for what I believe to
be cynical motives. Personally, I believe as you do, that hanging them
would have been the better option.
I do believe we can muddle through challenges without the aid of the
black hearted.
It is sad that both political parties support these people who have
shown such bad judgment in the recent past.
Is it any wonder that the population is disturbed?
Or are they?
It seems Mr. Bpuharic would be pleased if Geithner and Summers would
pump up his 401k to the level it was before the crash.
And ignore that that reliance on Wall Street is what led to our current
economic ills.
It is a strange world.
I sometimes get a customer who absolutely insists on a smaller shoe
than is healthy for her. She will jam her feet into those shoes.
I will not assist in this, BTW, and do my best to warn her off.
But in the end, I can not refuse to sell her the shoes.
It is the most disheartening aspect of my job, and I am only saddened
more by learning of the death of one of my long-time customers.
Though Mr. Bpuharic has made some points I agree with, his harping on
his 401k is not one of them.
Most of my customers who mention their 401k are happy that they have
recovered as much as they have.
I alway demur from financial discussions, but customers will talk.

Peter