Comments on: Thornburg’s Recent Margin Call May Signal More Trouble for Banks

By: Marc Authier

Marc Authier — Fri, 29 Aug 2008 08:31:56 +0000

The SEC is not sleeping. It just one more corrupt institution like the “Con”gress and like almost all western political and economic institutions. The SEC is not there to do its job. It’s there like a window dressing, a Potemkine village.

In reality the SEC is as useless as democracy or political parties in the USA and the rest of the west. You have hit the nail. The only thing that counts is buying time and saving the asses of the bankers and their big fat bonuses.

They are bust, but they say to themselves. ” Maybe the Russians and the Arabs will be giving us oil at 3$ next year ?” I am kidding but it’s about the type of miracle scenario expected.

By: Stu

Stu — Thu, 28 Aug 2008 01:49:12 +0000

5755, all you need to do is look at the level of L3 funds that MUST eventually be marked to market. The longer they wait the more they are downgraded. The word JUNK comes to mind for a lot of it. Bad policies create bad outcomes and this holding off (catching a falling knife) until things get better plan will back fire BIG TIME on many of these financial institutions. In some cases I cannot blame them however because they would be insolvent today if they were to do so. They might as well earn a living for another year or more and then let the Tax Payers “Bail” them out. Hey, as sad as that is, it has become the American way my friend!!! The SEC is sleeping, the FDIC is sleeping and the Fed is fastly printing to cover it all up… Go figure.

By: 5755hsa

5755hsa — Thu, 28 Aug 2008 00:14:39 +0000

Interesting on how finacials can rally on such “news”. A friend of mine told me today that his broker said “it was time to go long the banks”. I told my friend it was time for him to fire his broker. Of course he didn’t want to hear what I had to say, and is following along. Its very sad indeed, the catastrophe coming down the pipe. There is so much denial … it is just crazy.

By: Stu

Stu — Wed, 27 Aug 2008 20:59:38 +0000

I find the timing to be not so coincidental in regards to the FDIC hiring many past employees back. You think they might have saw this coming? They have a $300 Billion blank check made out to them from the Treasury. I find that not so coincidental either in regards to the $800 Billion “Bail Out” bill. You think they knew that line was going to be tapped and tapped hard? Now that they have 117 banks on their troubled list that seemed to appear instantly after the bill was signed they are crying poor mouth. Well off course they are! This is all so easy to plot out and see come together it is astonishing to me that more folks have not caught on… well I guess it isn’t really now that I think about the Sheeple involved here.

Fannie and Freddie up again today I see. The Sheeple are hard at work throwing their money away again…