The "up-to-the-minute Market Data" thread

Hmmm...

Paulson, Goldman CEO spoke often in heat of crisis
www.reuters.com...

WASHINGTON/CHICAGO (Reuters) - Former U.S. Treasury Secretary Henry Paulson talked often to the head of Goldman Sachs at the height of the credit crisis but did not actively seek to help the bank he once ran, a spokeswoman for Paulson said on Saturday.

The New York Times on Saturday reported records of two dozen conversations between Paulson and Goldman chief executive Lloyd Blankfein the same week last September that rival bank Lehman Brothers collapsed and insurer American International Group -- closely connected to Goldman -- was rescued with public funds.

Goldman was the single biggest beneficiary of the AIG bailout, receiving nearly $13 billion in counterparty payments that would have been lost had the insurer failed.

Paulson's spokeswoman Michele Davis confirmed the telephone conversations with Blankfein took place but denied Paulson had any intention of helping Goldman specifically.

"Suggesting that AIG was saved for the sake of one firm is as ridiculous as saying firemen put out a fire in a skyscraper to protect just one of the thousands of people in the building," Davis said in a statement.

More at Links...

Hank Paulson Belongs in Jail - Shut Goldman Sachs Down NOW
www.goldmansachs666.com...

Editor's Note: The New York Times just did a piece about how Hank Paulson "may" have violated some ethics rules. "May" is not the right word, because in the very article there is the piece below which shows King Henry was secretively speaking with Lord Blankfein BEFORE he received an ethics waiver.

Wake Up America!

On the morning of Sept. 16, 2008, the day the A.I.G. rescue was announced, Mr. Paulson’s calendars show that he took a call from Mr. Blankfein at 9:40 a.m. Mr. Paulson received the ethics waiver regarding contacts with Goldman between 2:30 and 3 the next afternoon. According to his calendar, he called Mr. Blankfein five times that day. The first call was placed at 9:10 a.m.; the second at 12:15 p.m.; and there were two more calls later that day. That evening, after taking a call from President Bush, Mr. Paulson called Mr. Blankfein again.

When the Treasury secretary reached his office the next day, on Sept. 18, his first call, at 6:55 a.m., went to Mr. Blankfein. That was followed by a call from Mr. Blankfein. All told, from Sept. 16 to Sept. 21, 2008, Mr. Paulson and Mr. Blankfein spoke 24 times.

At the height of the financial crisis, Mr. Paulson spoke far more often with Mr. Blankfein than any other executive, according to entries in his calendars.


This is a must read article in The New York Times - Click Here

And some local news...how sad is this? :shk:

Vouchers for free rent available for homeless families
Mlive.com

Homeless families in Jackson can apply for a voucher next week that would provide up to two years of free rent.

The Community Action Agency has been awarded a handful of Tenant Based Rental Assistance vouchers through the Michigan State Housing Development Authority.

Applications for the vouchers will be accepted on a first-come, first-served basis from 9 to 11 a.m. Thursday at the Barham Neighborhood Resource Center, 711 S. Mechanic St.

Anyone applying must have the following: photo identification for all adult household members, Social Security card for all members of the household, documentation of income for the entire household and proof of homelessness.

To prove your family is homeless, you must bring a letter from a shelter or social service agency that can attest to that fact. Or the family can provide an eviction notice if it was received within the week prior to the application day.

[edit on 8/9/2009 by Hx3_1963]

reply to post by Hx3_1963


I would much rather our government house productive AMERICAN families that have fallen on hard times (one story about an illegal getting such assistance then I take that back) than give bankers and unions more money.

Paulson committed treason, there's no way he could talk him self out of it. The entire government needs to be prosecuted along with all their banking friends.

reply to post by stander


Your right I can't... went to best buy and came back with a ps3 lol.... not quite a computer but entertaining I suppose. I still have my phone.. most of my posts come from my phone anyways. Just no spell checker, so you guys cannot laugh at me.

I give my self 4 weeks before I go crazy without a computer. Perhaps if I write my congressman the gov will buy it, since I didn't get a new car or a house. I feel left out...

reply to post by Hx3_1963


did anyone see that the law makers said they needed a few new jets oh about a half a billion dollars worth to spread their joy across america 2 g fives only 66 million a copy and 5 737s at 70 mil a copy whos going to be riding on these maybe nancy and barney maybe their flight plans wil take them to detroit mich to talk to ford and gm execs about their excessive corporate plane travel expenditures im thinkin greyhound stock might go up but thats just me stop the madness nancy! and get out of your c-22 fully equiped with 38 business class seats no more lip service sweetie i cant take anymore and oh by the way most of that natural beauty that you once possessed is making a mass exodus i think you might have to fall back on your wits do you have any of those

reply to post by robatmj12


Small bones for people to gnaw at them.
Typical distraction from real problems.

I just felt the need to get my week started in the right frame of mind

See anything familiar in the charts below?



The next 10 weeks should be fun, fun, FUN!!

reply to post by RolandBrichter


That is if we follow those trends. The government has never been more involved in the economy and markets as they are now and what they are doing has never been done. So we will have to see what the stock market does with the government dangling its strings...

What do you think the socialist governments did?
They did the same.
And they all went down.

Originally posted by RetinoidReceptor
reply to post by RolandBrichter

 

That is if we follow those trends. The government has never been more involved in the economy and markets as they are now and what they are doing has never been done. So we will have to see what the stock market does with the government dangling its strings...

The US Government has played their hand....an illusory and manipulated run up in the markets will ultimately result in Epic Fail, and the rest of the world knows it...

The trends are quite easy to exrapolate from here, IMHO....

Oh, and I agree with you...just because the markets have reacted pretty much the same way after every steep sell-off, is certainly no guarantee that it will be the same this time....but the territory sure is starting to look familiar

[edit on 9-8-2009 by RolandBrichter]

U.S. Running out of Benefits

Over the coming months, as many as 1.5 million jobless Americans will exhaust their unemployment insurance benefits, ending what for some has been a last bulwark against foreclosures and destitution.

Yes people, the unemployment numbers are to get very nice and will look good, because about half a million people are to be drop out of the benefits.

So the government will be playing with this disastrous event for their benefit.

But this half a million people are to become, destitute and homeless.

What is the government going to do with them? as usual shove them in the back burner and forget about the growing tent cities around the nation.

As much as nine million people are on unemployment insurance and they will also eventually will lose benefits.

Unemployment insurance is now a lifeline for nine million Americans, with payments averaging just over $300 per week, varying by state and work history. While many recipients find new jobs before exhausting their benefits, large numbers in the current recession have been unable to find work for a year or more.

But hey under Obamas dream world they can always volunteer for food.

www.nytimes.com...

Originally posted by RolandBrichter

Oh, and I agree with you...just because the markets have reacted pretty much the same way after every steep sell-off, is certainly no guarantee that it will be the same this time....but the territory sure is starting to look familiar

[edit on 9-8-2009 by RolandBrichter]

A lot of people still don't trust this rally...I think that can give this rally much more fuel to continue for another 20%...30%...Until you hear the bears grow horns and become bulls...The trend in the next 5 yrs though, is down. That doesn't mean we are immediately going to head down.

New tidbit, Freddie Mac reported a profit, and went up 73% in AH trading:

finance.yahoo.com...

reply to post by marg6043


They will just go on welfare Marg, not unemployment...Trust me the gov. will pass some sort of assistance.

reply to post by Rockpuck

Maybe you can get it fixed, if you know the cause of the problem that renders your PC useless.

But for the purpose of communicating with the web world, these things are less expensive than anything else:
www.bestbuy.com...

reply to post by RetinoidReceptor


The problem is that the welfare will run out of money also, very soon is no going to be money at all.

The deception of the government, they are slowing down the stimulus to wait until mid term elections so they can use the money as propaganda for their own benefit, mean while the American workers are at the losing end while the politicians are playing games with their future.

Whole bunch of crocks and dirty rats while people are losing their American dream they are filling their pockets with the sorrow of American families.

By the time the stimulus get to the nation the unemployment will be so outragous that the stimulus will be lost within the people waiting for government crumbs.

So the dirty bastards can use it for political propaganda.

Originally posted by RetinoidReceptor

Originally posted by RolandBrichter

Oh, and I agree with you...just because the markets have reacted pretty much the same way after every steep sell-off, is certainly no guarantee that it will be the same this time....but the territory sure is starting to look familiar

[edit on 9-8-2009 by RolandBrichter]

A lot of people still don't trust this rally...I think that can give this rally much more fuel to continue for another 20%...30%...Until you hear the bears grow horns and become bulls...The trend in the next 5 yrs though, is down. That doesn't mean we are immediately going to head down.

Yes but this rally is not based on trader psychology, and it is not a technically strong rally (VERY weak volume and dogs beating all stars)..

All the signs point to mayhem...eventually...

As I've stated before, things might pop another 20-30%, it will just make the sell-off much steeper...

Nope, I'm sticking to my earlier call....DOW @2500 and S&P @250 by the spring

I cant start any threads yet becuase I dont have 20 posts.

Here is a very nice article

www.marketwatch.com...

Originally posted by RolandBrichter
Nope, I'm sticking to my earlier call....DOW @2500 and S&P @250 by the spring

Numbers like that means total economic meltdown -- just complete pandemonium.

Originally posted by stander

Originally posted by RolandBrichter
Nope, I'm sticking to my earlier call....DOW @2500 and S&P @250 by the spring

Numbers like that means total economic meltdown -- just complete pandemonium.

Yes, for a time, but it also means a deep and much needed rethinking of our current Ponzinomic system...From the White House on down to your house (if your lucky enough to have one)...A complete paradigm shift is imminent and it will be the current bankster and political class that will suffer the most...

The implications of their actions are indeed horrifying, and I take no joy in pointing them out (You all see them too)....but to ignore the facts and trends would be, for me, unforgivable...

So, brace yourselves...if we dodge this bullet ( and it will be nothing short of a miracle at this stage, but they sometimes happen) no harm, right?

Originally posted by RolandBrichter

Nope, I'm sticking to my earlier call....DOW @2500 and S&P @250 by the spring

If I were you I would just short the S&P if you really think it is going to reduce by 60-70% from here within 6 months. But something tells me you won't