The Banking Thread

[85suited 0]

Chris Dodd is announcing he wont seek re election.. probably the best move the Dems could make to hold the seat

[hblask 1]

Chris Dodd is announcing he wont seek re election.. probably the best move the Dems could make to hold the seat

There are already rumors he will get a high position in the Treasury Dept.Apparently he hasn't caused enough financial destruction yet.

[Naked_Cowboy 0]

There are already rumors he will get a high position in the Treasury Dept.Apparently he hasn't caused enough financial destruction yet.

this would be hilarious and sad. it would be like putting al capone in charge of the IRS

[Balloon guy 158]

Chris Dodd is announcing he wont seek re election.. probably the best move the Dems could make to hold the seat

I heard Rush say today that Dodd is so pretentious that even though God only needed one D in His name Dodd had to have 3.

[Jeepster80125 0]

[El Guapo 8]

The good news is I don't think Obama will be able to implement what he is proposing.The bad news is, it looks like Bernake is going to have some trouble now with getting reappointed for another 4 years. Harry Reid is debating whether he wants him and Barbara Boxer claims we need a change from the failed polices of the Fed.I honestly believe these people do not actually understand the job and function of the Federal Reserve bank and system. Like somehow it is the federal reserves fault that CDS's were over used and banks lent to people who could not afford their homes.The Fed worked swiftly to stifle a world wide catastrophe, and I may not agree with everything they have done, but I do have to say without the action of the Fed and Bernake, we would be much much worse off.

[hblask 1]

The good news is I don't think Obama will be able to implement what he is proposing.The bad news is, it looks like Bernake is going to have some trouble now with getting reappointed for another 4 years. Harry Reid is debating whether he wants him and Barbara Boxer claims we need a change from the failed polices of the Fed.I honestly believe these people do not actually understand the job and function of the Federal Reserve bank and system. Like somehow it is the federal reserves fault that CDS's were over used and banks lent to people who could not afford their homes.The Fed worked swiftly to stifle a world wide catastrophe, and I may not agree with everything they have done, but I do have to say without the action of the Fed and Bernake, we would be much much worse off.

I have mixed feelings on Bernake, for the reasons you state. But they do seem to have a large amount of crony-ism going on, and the fed really has been way, way too loose with the money supply for a few years now, so it may be time for some fresh blood. The problem is, if Reid and Boxer get a say, we would almost certainly end up with someone ever worse, maybe a Krugman disciple.

[El Guapo 8]

I have mixed feelings on Bernake, for the reasons you state. But they do seem to have a large amount of crony-ism going on, and the fed really has been way, way too loose with the money supply for a few years now, so it may be time for some fresh blood. The problem is, if Reid and Boxer get a say, we would almost certainly end up with someone ever worse, maybe a Krugman disciple.

He has been loose with the money supply, but also has shrunk it up over night at times. I think he will move more swiftly and decisively than Greenspan ever did, and with everything that has been going on, that is a good thing.

[dabetka 0]

I sure appreciate the dow going down like 500 or so points in the past few days because of friggen Obamanomics... Dear Barry O': The more you regulate and restrict the free market economy, the more the market plummits.... My 401k begs of you to please stop now and let people run their own lives.

[dabetka 0]

I sure appreciate the dow going down like 500 or so points in the past few days because of friggen Obamanomics... Dear Barry O': The more you regulate and restrict the free market economy, the more the market plummits.... My 401k begs of you to please stop now and let people run their own lives.

That's cool, I guess everyone pretty much agrees on this...

[akoff 0]

That's cool, I guess everyone pretty much agrees on this...

something we can all agree on!!!What a week we had, Mass voted red, BHO got his wings clipped, Keith and the dyke (whatever her name is) morned on national TV(granted virtually nobody watches them but it was still nice), the health care money pit went in the tank, cap and trade is all but dead, the democrats learned nothing and will continue full steam ahead (what a great november that will be), Comcast was forced to sell thier local programing by the courts, the Union money for elections will be able to be off set by corporations and I got to play golf two days in a row, in Pennslyvania in January!!!!! JEEZ it doesn't get any better!!

[gobears 0]

I sure appreciate the dow going down like 500 or so points in the past few days because of friggen Obamanomics... Dear Barry O': The more you regulate and restrict the free market economy, the more the market plummits.... My 401k begs of you to please stop now and let people run their own lives.

2009 S&P Performance: 26+%2009 Nasdaq Performance 45+%My 401K did fine last year as opposed to 2008 under GWB. Does that mean that Obama's economic policies are better then GWB's?Well using stock market returns to determine whether or not the government's economic policies are working in a short time frame (e.g. one year let alone one week) is moronic.Barrons had a good article this past weekend on who should really be watching the execs of the major banks and surprise, it's the Board of Directors who are supposed to represent the shareholders. Well over the past decade, only Goldman Sachs has posted a positive stock return of 70%. Every other major bank (Citi, JP Morgan, Bank of America, etc.) is negative. So basically, most shareholders of any of the banks would have been better off in a Money Market fund than in the banks over the past ten years.

[dabetka 0]

2009 S&P Performance: 26+%2009 Nasdaq Performance 45+%My 401K did fine last year as opposed to 2008 under GWB. Does that mean that Obama's economic policies are better then GWB's?Well using stock market returns to determine whether or not the government's economic policies are working in a short time frame (e.g. one year let alone one week) is moronic.Barrons had a good article this past weekend on who should really be watching the execs of the major banks and surprise, it's the Board of Directors who are supposed to represent the shareholders. Well over the past decade, only Goldman Sachs has posted a positive stock return of 70%. Every other major bank (Citi, JP Morgan, Bank of America, etc.) is negative. So basically, most shareholders of any of the banks would have been better off in a Money Market fund than in the banks over the past ten years.

Do you really believe that Obama putting pressure/regulations on the banks didn't negatively effect the stock market last week??? If so, you must know something that every economist/investment advisor out there doesn't. Cuz, I mean, it's not like after he opened his mouth about the regulations that the Dow didn't tank like 5 % to end the week... Must have been something else, er not.

[gobears 0]

Do you really believe that Obama putting pressure/regulations on the banks didn't negatively effect the stock market last week??? If so, you must know something that every economist/investment advisor out there doesn't. Cuz, I mean, it's not like after he opened his mouth about the regulations that the Dow didn't tank like 5 % to end the week... Must have been something else, er not.

Obama's statements obviously would be bad news for the big banks but the stock market is made up of many more companies than just the banks. The rumors about Big Ben perhaps not being reappointed hurt the market. Sean Udall of Minyanville puts a potential sell-off at 7%-25% if Big Ben goes bye bye. Ben is considered friendly for the stock market and any potential successor would be a big unknown.China's plans to tighten liquidity put a scare into the global markets as well. Another factor that contributed to the downturn last week.The market was due for a correction after this monster run-up. The technical analysts were pointing to a short term top and were looking for a fairly decent correction. A lot of folks have made some decent coin in the past year and perhaps it's time to pocket some of the profits. If you look at the sentiment indicators, there are way too many bulls and way too few bears (Investors Intelligence data) which has proven to be a good contrary indicator.It's way too simplistic to say that Obama's plans for the big banks was the major factor in the stock market's downturn last week. A contributing factor I would accept.

[hblask 1]

It's way too simplistic to say that Obama's plans for the big banks was the major factor in the stock market's downturn last week. A contributing factor I would accept.

But that one guy who shouts all the time on that one show....

[JoeyJoJo 18]

Cool Graph

[Balloon guy 158]

Cool Graph

But there is no pie there.I don't understand it

[hblask 1]

Cool Graph

Fiscal responsibility is not in this guy's vocabulary.