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"

Saturday, March 21, 2009

Dicks on the line

Something that the bankers don't seem to realize, is that Congress has put their Cocks firmly on the chopping block with the American People.

There is no political upside in defending "BANKERS". Only downside, And only the Republicans trying to cock block anything they can that will help the situation out. Leave it to the republicans, and there would be NO BANKS.

So as a congressman, if I defend banks I have a good chance of losing my seat. I'm in a Hell fight with the Republicans. I'm getting Call after call from the public.

Now what are the bankers doing...

  • 10 million to rebuild some offices, from a bank that is dead in the water.
  • Attempt to buy some new Jets.
  • Circumvent the law to get millions in bonus to employees.
  • Show up and act Indignant to Congress,
  • Lie about how much you are getting paid to congress.
Here is a nice story from Washington post

So, as the Ayn Rand-ers... take care of themselves. Make sure that they get a bonus, and that congress doesn't mess with their Ego's.

It seems like finally these guys hit the Third Rail in this process and congress is about to stick the cattle prods into them.

Seems weird that congress is going to put their ass on the line for the economy. and the bankers won't even put their ass on the line for their bank.
Who seems to care more about bank failure ... The bankers or Congress....

if the bankers don't care....

So... congress will stick the Electrodes in and see if The dog will be trained....
if they won't and if they don't start Clicking their heels and realize who the boss is... Guess what...

It's game over...

We can talk about the idea that the bankers will "Save themselves"... and do what they need to do for Shareholders and for the bank.... but how did that work on the CDOs? They only care about one thing. If I ran a bank... I think I would be happy to have these guys gone.

The real indicator will be banker behavior from this point on... Will they do what they have always done... or will the cattle prod wake them up.

But you may wonder... the banks my just be powerless.

What was the Erin Burnett comment.... "if they can return the money!"

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