Comments on: The Triple Crown of Financial Catastrophes http://dailyreckoning.com/the-triple-crown-of-financial-catastrophes/ Covering the economy, global markets and world politics. Sun, 22 Nov 2009 09:36:11 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Viv http://dailyreckoning.com/the-triple-crown-of-financial-catastrophes/#comment-11122 Viv Fri, 12 Jun 2009 01:37:24 +0000 http://dailyreckoning.com/?p=16327#comment-11122 The banks might be paying back TARP, but they're getting money in so many other ways it's not even funny. All those FED liquidity and guarantee programs, through AIG, Fannie and Freddie. Heck they can make a profit from mark to fantasy accounting and book a profit from the falling value of their own debt and other accounting trickery. The banks might be paying back TARP, but they’re getting money in so many other ways it’s not even funny. All those FED liquidity and guarantee programs, through AIG, Fannie and Freddie.

Heck they can make a profit from mark to fantasy accounting and book a profit from the falling value of their own debt and other accounting trickery.

]]> By: MyLessThanPrimeBeef http://dailyreckoning.com/the-triple-crown-of-financial-catastrophes/#comment-11062 MyLessThanPrimeBeef Thu, 11 Jun 2009 17:08:06 +0000 http://dailyreckoning.com/?p=16327#comment-11062 First of all, Bill, that Goldilocks Greenspan was dating, well, she was not a real blonde but with the help of a little peroxide. Like things Hollywood, it was all artificially enhanced. As for dismal scientists you mentioned, remember this: as surely as we all today laugh at those ancient dismal scientists, future generations will laugh at our own dismal scientists, even those dismal-est scientests who have been feted in Stockholm. And like our good parents used to tell us, we do well to think about the future and try to be ahead of our time. So, before those in the future laugh at our dismal scientists, we can laugh at them now, instead of just laughing at those ancient ones. That's doing something ahead of your time. There was a time when if a central banker was mentioned alongside printing press in the sentence, the currency would crash. But we are the greatest generation the world has ever seen, so, I guess it's different this time. Lastly, I would like to say that if stress tests are so good, why do we do it more often? Like every other week? First of all, Bill, that Goldilocks Greenspan was dating, well, she was not a real blonde but with the help of a little peroxide. Like things Hollywood, it was all artificially enhanced.

As for dismal scientists you mentioned, remember this: as surely as we all today laugh at those ancient dismal scientists, future generations will laugh at our own dismal scientists, even those dismal-est scientests who have been feted in Stockholm. And like our good parents used to tell us, we do well to think about the future and try to be ahead of our time. So, before those in the future laugh at our dismal scientists, we can laugh at them now, instead of just laughing at those ancient ones. That’s doing something ahead of your time.

There was a time when if a central banker was mentioned alongside printing press in the sentence, the currency would crash. But we are the greatest generation the world has ever seen, so, I guess it’s different this time.

Lastly, I would like to say that if stress tests are so good, why do we do it more often? Like every other week?

]]> By: JMR bayou bobby http://dailyreckoning.com/the-triple-crown-of-financial-catastrophes/#comment-11022 JMR bayou bobby Thu, 11 Jun 2009 07:19:16 +0000 http://dailyreckoning.com/?p=16327#comment-11022 I have a sudden urge to relocate to France, not so much for the food as the atmosphere. I have a sudden urge to relocate to France, not so much for the food as the atmosphere.

]]> By: OSR http://dailyreckoning.com/the-triple-crown-of-financial-catastrophes/#comment-11002 OSR Thu, 11 Jun 2009 01:57:08 +0000 http://dailyreckoning.com/?p=16327#comment-11002 Recovery implies that we'll return to the levels of prosperity seen in the last decade. Yet, that prosperity was rented with excessive credit. So, how is it possible to return a place where we should have never been in the first place? More reckless lending? Real growth isn't an option, as we are the global back hole of consumption. Unless Bernanke learns how to excrete gold bricks, I'm thinking that this is the new normal. Recovery implies that we’ll return to the levels of prosperity seen in the last decade. Yet, that prosperity was rented with excessive credit. So, how is it possible to return a place where we should have never been in the first place? More reckless lending? Real growth isn’t an option, as we are the global back hole of consumption. Unless Bernanke learns how to excrete gold bricks, I’m thinking that this is the new normal.

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