I was going through some stuff on FDR, and there were many times he took the opposing side to a filibuster... Was he a democrat or republican? I'm not sure it matters, But I imagine that similar things will happen over the next years, and I suspect it's going to affect my portfolio.
It would make me feel better if our legislative bodies would stop acting like they are 14 years old(both sides). Maybe even act like we are all in this together... but *sigh*... that sounds like socialisum.
I suspect that there isn't motivation for that kind of "comming together" in this country. It may not happen until more people are sleeping in the streets. Politicians need not worry, because one needs an address to vote, so their jobs are probably safe, and the complaints will come from those stepping over the homeless, and not the homeless. And everybody will keep going on believing what they want, Schiff and Rogers can keep talking about letting them fail... but it won't be Chuck prince that we will be stepping over in a doorway.
On a positive note, Keith Olberman last night said " I think that letting Lehman fail, was actually a problem. ", and I heard some good questions from some of the Senate yesterday. Of course it's interesting that for over a year the question "what can we do?" has had the same answer "We need to deal with the issue of 'too big to fail' " ... No worries, it will be delt with at the 11th hour at some time in the future, as all the congressman scream "we need more time to deal with this."
My rhetorical question is "Why isn't it that; 'the market is up because the bank CEO's are going to get their Come-upence'? or 'The market is excited because the Bank CEO's will have a chance to give their side of the story?' Or in the case of Dylan R. 'The market is excited in anticipation of some transparency from the banks.' "
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
Wednesday, February 11, 2009
GYOFB
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