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Originally posted by EtSolveMundi
Congress is acting surprised and broadcasting this powerless, helpless image of itself. A few days ago Sen. Reid (Sen. Maj. Leader) said something to the effect of "Congress has no idea what to do" and implied that they'd just let the Treasury and Fed Res handle it if Bernanke and Paulson asked them to. This strikes me as incredibly, truly strange. High profile congressmen saying they are impotent? Admitting that they can't help? That is just not something major politicians and officials do. Part of their unspoken code of conduct is to maintain a calm and in-control facade, to broadcast stability, knowledge and power (i.e. leadership ability). Even though they are rarely sincere when they claim to be totally on top of a situation, they still do it and it's expected of them. This is the behavior of politicians and officials for thousands of years. What could they possibly be thinking? I cannot figure this out.
...The US government wants to get rid of people who call their banker friends on their greed and stupidity. Check, there go the short sellers. And they want to get rid of their banker friends’ gigantobehemoth debts. Check, the taxpayers now own them. Or will Congress vote no? Don’t hold your breath.
These guys are not trying to solve a crisis, they’re trying to keep their made men’s profits and shovel the losses into the public coffers. And you’re letting them do it. While everyone watches Sarah Palin’s blaring incompetence, the things that matter today, small things such as your children’s future, get ignored entirely. How long did you say you've been drinking?
What is short selling anyway ? Look, in our culture, vultures have a bad name, and maggots even more. But any biologist can tell you they have an essential function in nature. Without them you’d end up with a disease ridden world like you wouldn’t believe. Short sellers have that function: they clean up what dies.
Vultures spot dying animals, and circle above. Simple. Take them away, and you’re spreading disease. What the SEC did today obliterates the rules of nature as much as the rules of the market. Vultures don’t take on healthy animals any more than shorters take on healthy companies. They make sure companies can’t indefinitely fool you into thinking their alive and kicking. It’s not as if the media will let you know....
Originally posted by toepick
the imminent collapse of the U.S. economy to occur by September 2008
I don't buy for a SECOND that they 'had never heard anything like that before',