A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
"You either nationalize the banks or you nationalize the mortgages. Otherwise, they’re all toast”- Nouriel Roubini, NYU professor, August 2008
"You either nationalize the banks or you nationalize the mortgages. Otherwise, they’re all toast”+++++++++++++++++++++++++++Banks 1Tax payer 0Mortgage Holders -0FlyingMonkeyWarrior aka Infidel Woman
And, he is not the only one...http://news.bbc.co.uk/2/hi/business/7569903.stm
Don't worry, Barrack Hussein will nationalize everything...banks, oil companies, mortgage lenders, hospitals...DOPES!
I thought they already picked..Feddie Pae
Let them both fail. Let people feel pain for once. Let them get kicked out their houses they never owned, go bankrupt. The corrupt banks, the Federal Reserve, HUD, the FDIC should fail as well. Who knew the greatest real estate developer/subsidizer in the world was the U.S. government? This has gone on far too long.
Oh yeah, that's what I call a bull market:DOW: -130; -15% YTDNAS: -1.35%; -11% YTDS&P: -0.93%; -14% YTDI don't want to sound like a broken record but...Attention, attention! Calling all fools to jump in the rigged and rotten market, just to get fleeced a few days later. How's that "buying on dips" strategy doing for you, sheeple?Enjoy your retirement in poverty. Like the Messiah said, you better start learning Spanish so you can get a job at some fast food joint.DOPES!DOLTS!
The real estate tsunami is engulfing so many countries now, from the UK to Australia, and Morgan Stanley experts say the Dubai bubble should burst in 09.In Spain, the government said NO to bailouts. It turned out to be more responsible than its counterpart in the US. They are letting the housing market correct itself. Now the greedy property investors in Spain gave up waiting for gov handouts. They are forgoing their deposits rather than risking more losses as the market is still heading down to more reasonable price levels:http://tinyurl.com/5nbapc
Uhhh in either case the end result is the nation is toast.PS this is a far cry from HP's usual Ronpaulian tendencies.
Of those 3 choices, I prefer "they're all toast"
The Professor is right.
I like toast
so who's gonna bite the big one?Wamu?Wachovia?Citi?
How bout we go with the "they're all toast!" option.
Umm how about nationalize nothing. At least that's the only option if you don't want to tear up the Constitution.
I don’t hate Europe I just hate their foreign policies.The suffering Ossetians have a right to resist the Georgian occupation.Ossetian martyrs when blowing themselves up in the Georgian pizzerias are not terrorists they are resistance fighters.DOPES!!!Just pointing out the disgusting European hypocrisy.Kissing murderous Arab dictators a$$ is preferred to Russia’s style.(any HPers wanna guess why)A reminder to Europe before the coming massive EU economic crash..‘You sleep in the bed you make’
Good written profile of Roubini in the NY Times.
the dude knows whereof(archaic) he speaks...
Oh well, we had a nice run.USAborn 1776 - died 2008(Of course, the corpse will be kept "alive" by artificial means)
I like toast. Popcorn too. The latest conspiracy theory: The rich and powerful knew the agency bonds were backstopped by the gubbermint. Joe Shmoe average investor was left wondering. Score another one for the insider maggots, who got higher yields on the backs of the US taxpayer, again.
Nationalize This! you bastards.... life just isn't fair!
Of the different economists I have followed through this meltdown, Roubini has been spot on.Read his February 2008 piece (at his website): The 12 steps to financial meltdown The man is a prophet.Dow to the 9,000 range per Roubini. I believe it. Gold will take a hit as well, as it has recently (although I am long gold)He is worth listening to.
Let's make a deal, pay me and I will leave this country, and you can have the house, at least I'll have freedom.
Very discouraging that Roubini could have made that speech to professional economists in 2004 and be derided. Most politicians and the Greg Swanns of the world were willfully delusional because it was in their self-interest to be that way. But economists are supposed to be detached. Why couldn't they see what we saw? What Roubini saw? What were they looking at? Very discouraging.
I don't think that they will *all* be toast. Just maybe the greater majority of 'em.However I would lean towards the banks for several reasons, mostly because I believe our founding fathers and early leaders only envisioned American banks operating in America, under full American control and scrutiny- if at all.I seriously doubt that they intended for international banks to ever have so much power and sway over America. Or so very much of our land...
If it were up to me, I'd say screw the banks. They've been screwing us all these years. Let'em fail. Let their shareholders lose all.
I pick choice C, none of the above.
LET THEM EAT TOAST!!!!
nationalize responsibility.foreclose on the irresponsible, insolvent sheeple. bring back the RTC to foreclose on the irresponsible, insolvent banks.those who do not learn from their mistakes are doomed to repeat them.
Roubini - one SMART Iranian Jew!!What a combo! Talk about BIG Brains!
Roubini is an optimist. Seriously. Not long ago he thought things wouldn't be so bad in Europe, Australia, etc. He was mostly worried just about the US. He has been slowly coming to realize that things are worse than he feared.
Easy pick: Let them eat toast.
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