Avernus Posted April 18, 2010 Share Posted April 18, 2010 http://www.youtube.com/watch?v=YjCqp2HQPYU...amp;feature=sub http://finance.yahoo.com/news/8-banks-clos...118109.html?x=0 Quote Link to comment Share on other sites More sharing options...
Brentastic Posted April 18, 2010 Share Posted April 18, 2010 http://www.youtube.com/watch?v=YjCqp2HQPYU...amp;feature=sub http://finance.yahoo.com/news/8-banks-clos...118109.html?x=0 You're just finding this out now?!?!? Yeah, I acutally doubled my short positions earlier in the week, not that I forsaw this news being released Friday, but because I know this rally is exhausted. Anyways, this news may be the catalyst for the next wave down that I've been talking about. Practically all technical indicators that I watch are bearish too. All signs are pointing to a major top. Quote Link to comment Share on other sites More sharing options...
Chief Dick Posted April 18, 2010 Share Posted April 18, 2010 You're just finding this out now?!?!? Yeah, I acutally doubled my short positions earlier in the week, not that I forsaw this news being released Friday, but because I know this rally is exhausted. Anyways, this news may be the catalyst for the next wave down that I've been talking about. Practically all technical indicators that I watch are bearish too. All signs are pointing to a major top. So what you are saying is we need to stock up on Josh Gordon? Quote Link to comment Share on other sites More sharing options...
Brentastic Posted April 18, 2010 Share Posted April 18, 2010 So what you are saying is we need to stock up on Josh Gordon? Cash, then Josh Gordon. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 18, 2010 Author Share Posted April 18, 2010 You're just finding this out now?!?!? Yeah, I acutally doubled my short positions earlier in the week, not that I forsaw this news being released Friday, but because I know this rally is exhausted. Anyways, this news may be the catalyst for the next wave down that I've been talking about. Practically all technical indicators that I watch are bearish too. All signs are pointing to a major top. I'm usually more on top of this sort of thing... but I heard nothing about this.....until last night.... I think we might have our 1st bad Monday in awhile...someone even said it in the response section on the YouTube vid..... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted April 18, 2010 Share Posted April 18, 2010 aver, banks have been closing every friday for awhile now Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 19, 2010 Author Share Posted April 19, 2010 aver, banks have been closing every friday for awhile now I haven't heard anything about it....but I don't really watch the news.... I guess the bigger news would be Goldman Sachs charged with fraud...that's something that hasn't been happening every friday... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted April 19, 2010 Share Posted April 19, 2010 I haven't heard anything about it....but I don't really watch the news.... I guess the bigger news would be Goldman Sachs charged with fraud...that's something that hasn't been happening every friday... bank list -- http://www.fdic.gov/bank/individual/failed/banklist.html the gs news could be big. Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted April 19, 2010 Share Posted April 19, 2010 the gs news could be big. It won't be big, it will be monumental. There are a ton of banks lining up to nail their ass to the mast. They deliberately packaged up a crock of crap, recommended it as a wise investment then bet against it themselves. Heads they win, tails you lose. Said it a million times but it's worth saying again - if you don't want government to regulate, behave properly. Nearly all government regulation is the result of business making it possible. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 19, 2010 Author Share Posted April 19, 2010 bank list -- http://www.fdic.gov/bank/individual/failed/banklist.html the gs news could be big. it seems that once a month, there's a slew of banks that close in a day.....even in February, 8 closed between the 2nd and 3rd of the month... after seeing that list, 8 banks closing on Friday isn't too big a deal....the big deal is when you have a minimum of 5 a week or if we start seeing them close down in the teens in a day.... but with the way the economy is, the rate that banks are closing down isn't anything to be alarmed about.... it was just the fact that GS was charged with fraud and then the news of 8 banks closing on top of that makes for a big deal imo... Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted April 19, 2010 Share Posted April 19, 2010 it seems that once a month, there's a slew of banks that close in a day.....even in February, 8 closed between the 2nd and 3rd of the month... after seeing that list, 8 banks closing on Friday isn't too big a deal....the big deal is when you have a minimum of 5 a week or if we start seeing them close down in the teens in a day.... but with the way the economy is, the rate that banks are closing down isn't anything to be alarmed about.... it was just the fact that GS was charged with fraud and then the news of 8 banks closing on top of that makes for a big deal imo... they always take over the banks on a friday or saturday for minimal disruption to the custs. Quote Link to comment Share on other sites More sharing options...
Perchoutofwater Posted April 19, 2010 Share Posted April 19, 2010 Anyone question the timing of the GS info being released roughly a week before congress is set to vote on a financial reform bill? Seems like a ploy to get the populous all fired up so that government can obtain more power. BTW, I think everyone associated with GS should have their sack nailed to the wall. I just am slightly concerned with an over reaction in increased regulation when so much of the trouble we have isn't lack of regulation, but faulty and possibly criminally negligent oversight. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 20, 2010 Author Share Posted April 20, 2010 Anyone question the timing of the GS info being released roughly a week before congress is set to vote on a financial reform bill? Seems like a ploy to get the populous all fired up so that government can obtain more power. BTW, I think everyone associated with GS should have their sack nailed to the wall. I just am slightly concerned with an over reaction in increased regulation when so much of the trouble we have isn't lack of regulation, but faulty and possibly criminally negligent oversight. the rabbit hole goes deeper http://www.dailyfinance.com/story/investin...ector/19443812/ Quote Link to comment Share on other sites More sharing options...
nuke'em ttg Posted April 20, 2010 Share Posted April 20, 2010 always liked the way banks bend ya over for a Construction loan then go out on their own and make bad investments and go tits up Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted April 20, 2010 Share Posted April 20, 2010 the rabbit hole goes deeper http://www.dailyfinance.com/story/investin...ector/19443812/ We must trust business to always do the right thing by their customers because government is totally evil. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted April 20, 2010 Share Posted April 20, 2010 We must trust business to always do the right thing by their customers because government is totally evil. do you really think that politicians are any different than ceo's? Quote Link to comment Share on other sites More sharing options...
Ursa Majoris Posted April 20, 2010 Share Posted April 20, 2010 do you really think that politicians are any different than ceo's? I dunno but there's enough people around here who think there is. Business is so much more efficient and honest than government. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted April 20, 2010 Share Posted April 20, 2010 I dunno but there's enough people around here who think there is. Business is so much more efficient and honest than government. people need to realize that the majority of humans(not just ceo's and pols) are in it for themselves. Quote Link to comment Share on other sites More sharing options...
westvirginia Posted April 20, 2010 Share Posted April 20, 2010 people need to realize that the majority of humans(not just ceo's and pols) are in it for themselves. At at the very least you can count on them to act in their own self-interests. Granted, there are some things that are beyond the pale (Enron/Worldcom/etc) but anyone who trusts politicians, well... When a dog pisses on a fire hydrant, he's just being a dog. When a politician lies, he's just being himself too. On the whole I'd sooner trust the dog. Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 21, 2010 Author Share Posted April 21, 2010 I dunno but there's enough people around here who think there is. Business is so much more efficient and honest than government. both go hand in hand imo... Quote Link to comment Share on other sites More sharing options...
Avernus Posted April 21, 2010 Author Share Posted April 21, 2010 people need to realize that the majority of humans(not just ceo's and pols) are in it for themselves. good info here....or +1.... Quote Link to comment Share on other sites More sharing options...
westvirginia Posted April 21, 2010 Share Posted April 21, 2010 It won't be big, it will be monumental. There are a ton of banks lining up to nail their ass to the mast. They deliberately packaged up a crock of crap, recommended it as a wise investment then bet against it themselves. Heads they win, tails you lose. Said it a million times but it's worth saying again - if you don't want government to regulate, behave properly. Nearly all government regulation is the result of business making it possible. From what I can tell that's not really so accurate. They hired some fund guru named Paulson who actually saw the housing market tanking (thus shorting CDO's) and the legality/ethics are in question but it's far from a slam dunk. Other than Paulson, no one can say for sure if he deliberately assembled that fun with a housing-market tank in mind. Additionally, GS bet it's own money on the fund and lost some $90BB. So that leads me to believe this Paulson guy convinced these guys that his choices would make money. If there was any malfeasance here it was likely Paulson and not GS. We must trust business to always do the right thing by their customers because government is totally evil. I dunno but there's enough people around here who think there is. Business is so much more efficient and honest than government. You're really getting ridiculous about this. First of all, your wonderful fedgov created the biggest ponzie scheme the world will ever see, and then force your "contributions" at the barrel of a gun. I'd bet all the crap over the last three years isn't 10% of the social security fiasco. Then, to top it off, these same a-holes raided the fund ad infinitum to buy more votes and increase their power. This has caused the solvency issues and people who were promised something they are counting on might not get it and the program will probably need to be turned into welfare to save it. You're painting with a broad damn brush with respect to the business owners too. 90%+ are people like twiley, keggerz, perch, detlef and then guy who gives you a job. They're honest, hardworking and believe in giving their customer a product or service that exceeds expectations. The more I read about this, the more I think the repeal of Glass-Steagle could be the primary culprit here. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted April 21, 2010 Share Posted April 21, 2010 At at the very least you can count on them to act in their own self-interests. Granted, there are some things that are beyond the pale (Enron/Worldcom/etc) but anyone who trusts politicians, well... When a dog pisses on a fire hydrant, he's just being a dog. When a politician lies, he's just being himself too. On the whole I'd sooner trust the dog. good info here....or +1.... atleast with ceo's, you can get in on their self promotion by investing in their company. with pols, you have to be in their inner circle to benefit. Quote Link to comment Share on other sites More sharing options...
SEC=UGA Posted April 21, 2010 Share Posted April 21, 2010 atleast with ceo's, you can get in on their self promotion by investing in their company. with pols, you have to be in their inner circle to benefit. And not just that, I would be willing that politicians, % wise, are much more likely to screw people or participate in illicit activity than corporations. Quote Link to comment Share on other sites More sharing options...
TimC Posted April 21, 2010 Share Posted April 21, 2010 A business, for the most part, is forcing no one to buy their product. You have no choice with Gubment. Can I opt out of this crap? Quote Link to comment Share on other sites More sharing options...
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