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Advisor

Maybe, just maybe

If in the fall of 2008 they'd have moved the banks into resolution and retrofitted the sytem (re-instatement of Glass-Stegal and capital requirements) today would have been a better day:

 

 http://www.nakedcapitalism.com/2011/08/market-craters.html

2 Replies
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Advisor

Re: Maybe, just maybe

You have to ask yourself, why today? Why not one of those other days when it looked like the wheels were about to come off but miraculously didnt? I asked before who would be buying all this new debt to be created, perhaps tptb need investors to flee equities in favor of treasuries. With Europe going devcon 5 the fear trade looked to be going to pm's, so they threw in some margin calls to cut off that exit. Or maybe they finally just lost control, we know that's where this all ends anyhow.
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Advisor

Re: Maybe, just maybe

Lost control...might say it all. If so, there are probably about 500 out of 535 members who won't have a clue what happened. Whether to shiite or go blind. Much as many here would hate it, this might be the one solid pick the basketball player in the w h gets. If he hits the jumper it might just silence all of these phoney lay preachers posing as economists that wormed their way into congress. Going to be interesting what papa paul has to say over the next few days. But the pres hhas to come out of under his rock and take this on. And fwiw, I don't have much faith that he will.