Financial history doesn't repeat itself, but it often rhymes. You can't be stupid enough to trade off anything I say.... I'm lucky they let me out of the straight-jacket long enough to trade.

J. P. Morgan

"Sell down to your sleeping point"

Friday, October 10, 2008

I had a phone call from a civilian

I said "They will probably step in and backstop all the banks.", What they have to do is liquidate any of the bad banks, and then have the good banks backstopped... Without Penalty.

Volker:
We have the tools to manage the crisis. now we need the leadership to use them.

I said this summer that when I saw one of these 18-25 year old Kids, willing to pick up a broom or a shovel. there was some hope. In the early 90's when I was a 20 year old kid... I started working as a finish carpenter. They started cutting fed rates, and we had expansion in retail construction. I worked hard every week as I went to school.

not to be old, but kids these days think they are better than a broom. They want to sit at their computers all day, and IM with their friends. I still do I.T. management, it's offensive what people do with their day. I used to tell management that they needed to shut the inernet off and block a ton of sights.... management refused, because they are the biggest offenders of waisting their time.

I was a guy who spent a ton of time waisting in on video games on the computer.... I'll say it's not all bad. The problem is you kind of get caught up in a bubble. With corporate america caught up in a bubble of spending the day surfing the net all day, and having it look like they work. It's no wonder we are losing productivity. You have to make sure, at a minimum people don't have anything else to do at work, so they are so bored... they think.... why don't I just do some work...

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