August 19, 2008

Pick one America


"You either nationalize the banks or you nationalize the mortgages. Otherwise, they’re all toast”

- Nouriel Roubini, NYU professor, August 2008

31 comments:

Anonymous said...

"You either nationalize the banks or you nationalize the mortgages. Otherwise, they’re all toast”
+++++++++++++++++++++++++++
Banks 1
Tax payer 0
Mortgage Holders -0

FlyingMonkeyWarrior aka Infidel Woman

Works for a living said...

And, he is not the only one...

http://news.bbc.co.uk/2/hi/business/7569903.stm

Anonymous said...

Don't worry, Barrack Hussein will nationalize everything...banks, oil companies, mortgage lenders, hospitals...

DOPES!

emmy said...

I thought they already picked..Feddie Pae

vanilla ice said...

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.

Anonymous said...

Oh yeah, that's what I call a bull market:

DOW: -130; -15% YTD
NAS: -1.35%; -11% YTD
S&P: -0.93%; -14% YTD

I 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!

went2puke said...

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

FredE said...

Uhhh in either case the end result is the nation is toast.

PS this is a far cry from HP's usual Ronpaulian tendencies.

Refuse to buy overpriced said...

Of those 3 choices, I prefer "they're all toast"

consultant said...

The Professor is right.

wc said...

I like toast

Anonymous said...

so who's gonna bite the big one?

Wamu?
Wachovia?
Citi?

F 'em all said...

How bout we go with the "they're all toast!" option.

Frank@MarketingOpus.com said...

Umm how about nationalize nothing. At least that's the only option if you don't want to tear up the Constitution.

Nature remembers said...

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’

Ibod said...

Good written profile of Roubini in the NY Times.

Anonymous said...

the dude knows whereof(archaic) he speaks...

RJ said...

Oh well, we had a nice run.

USA
born 1776 - died 2008

(Of course, the corpse will be kept "alive" by artificial means)

Edgar Alpo said...

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.

Anonymous said...

Nationalize This! you bastards.... life just isn't fair!

Lady Di said...

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.

Anonymous said...

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.

Natural Eyebrows said...

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.

Lamaria said...

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...

Anonymous said...

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.

Anonymous said...

I pick choice C, none of the above.

The Housing Bubble Ate My Balls. said...

LET THEM EAT TOAST!!!!

let em eat cake! said...

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.

Anonymous said...

Roubini - one SMART Iranian Jew!!

What a combo! Talk about BIG Brains!

Anonymous said...

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.

Peter T said...

Easy pick: Let them eat toast.