Shorter Bobo: Take me, Daddy!
And let us recognize above all the 228 who voted no — the authors of this revolt of the nihilists. They showed the world how much they detest their own leaders and the collected expertise of the Treasury and Fed. They did the momentarily popular thing, and if the country slides into a deep recession, they will have the time and leisure to watch public opinion shift against them.
[snip]
We’re living in an age when a vast excess of capital sloshes around the world fueling cycles of bubble and bust. When the capital floods into a sector or economy, it washes away sober business practices, and habits of discipline and self-denial. Then the money managers panic and it sloshes out, punishing the just and unjust alike.
[snip]
What we need in this situation is authority. Not heavy-handed government regulation, but the steady and powerful hand of some public institutions that can guard against the corrupting influences of sloppy money and then prevent destructive contagions when the credit dries up.
My goodness, all that sloshing!
Dr. Freud, call your office.
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What we need in this situation is authority.
Wrong. What we needed before this happened was an investment community that does real analysis of risk and doesn’t just slosh along with the rest of the crowd. There has been zero original thinking in investment in the last twenty years. They are absolute lemmings and are now asking for help after they have run off the cliff. People with so little judgment should not be in charge of such large sums of money.
Pot call the kettle black
Paulson’s bailout plan won’t work there is a very good chance that giving $700 billion without oversight but with a get out of jail free card for Paulson is a bad idea.
Why because anyone who asks for cash but demands they won’t get in trouble no matter what they do with the cash is to dodgy to get my money!
I want a plan that Paul Krugman and Warren Buffet Love!
Well, don’t forget Buffett is now a major investor in Goldman. Conflict of interest.
Damm good point!
Steady and powerful hand, but not heavy-handed government regulation?
What a maroon.
Steady and powerful hand, but not heavy-handed government regulation?
What a maroon.
No doubt Bobo wants a Republican-like God who will make sure his investments are safe.
Even their rational-like people seem to fall back on “magical thinking.” Is republicanism a genetic defect?
I think I know those guys.
I expected you would.
Zip it, Bobo…