The DOW falls 455 pts today

cardinal5150 wrote:

Bman wrote:
Mark, McCain caused this meltdown in 1999 with the passage of insurance and banking deregulation that Phil Gramm and John McCain supported. Pretty simple.

Got attitude?

I'm just curious if you're actually able to think for yourself anymore or if you just run with whatever you see on the news about who is possibly to blame for anything?

Seriously.. the comments you've made on the market are so asinine I can't believe you've got a degree in anything financial, if I were from your college I'd demand you have your degree recalled.

Just a side note.. this law was signed by Clinton.. he didn't veto it. It also

This bill didn't cause the mortgage issues.. the mortgage problem is very simple. People bought houses they shouldn't have been approved for. This bill didn't lower the standards for loan approval. There are banks out there that didn't make any mortgage loans that are struggling because they bought mortgage backed securities. Again.. something this bill has absolutely zero to do with.

So rather than repeating whatever fodder is fed to you, seriously, do yourself a favor and stop, think and actually look something up. You won't sound like a complete imbecile in the future.

I heard a great quote on this yesterday, and I'm paraphrasing as much as I can remember.... "the problem is you used to have to go to the banker down the street who knew you, your parents, your brothers, your boss and everyone else to get a loan. They'd know your financial position and approve accordingly. Now people who are across the nation are approving loans without knowing anything because they want to make a buck, and that's the problem."

Norwest Bank was one of the pioneers in this field... I believe they were bought by Wells Fargo who is one of the few strong banks we have today. So clearly that's not the issue.

Card ... stick to being a DJ.

but come on bman.. the line about recalling your degree was funny in a clever way.

Bman wrote:
Card ... stick to being a DJ.

That's about the extent of what I figured you could respond with... notice the extreme lack of anything to counter my facts....

BTW.. don't watch the markets today, they'll be up drastically which again, must mean we're in a booming economy according to your standards.

cardinal5150 wrote:

Bman wrote:
Card ... stick to being a DJ.

That's about the extent of what I figured you could respond with... notice the extreme lack of anything to counter my facts....

I don't want to get involved in your catfight, but just curious which facts you were referring to.

Card, you're hilarious. I read your post and wonder if you really graduated High School let alone colledge. I hope they taught you that digested knowledge, regurgitated through your own unreferenced unsubstantiated commentary, is not "fact"?

Not sure if you'll think this is splitting hairs, but please indulge us to which few words in between insults are factual...

Dow currently up over 350 pts...WTFG!!!

meta4 wrote:

cardinal5150 wrote:

Bman wrote:
Card ... stick to being a DJ.

That's about the extent of what I figured you could respond with... notice the extreme lack of anything to counter my facts....

I don't want to get involved in your catfight, but just curious which facts you were referring to.

Card, you're hilarious. I read your post and wonder if you really graduated High School let alone colledge. I hope they taught you that digested knowledge, regurgitated through your own unreferenced unsubstantiated commentary, is not "fact"?

Not sure if you'll think this is splitting hairs, but please indulge us to which few words in between insults are factual...

Bman made the comment that McCain supported the GLBA which allowed commercial and investment banks to combine and inferred that that bill is what caused the sub prime mess and probably every other problem in America at the moment. The FACTS are that this bill allowed commercial and investment banks to combine.. no more. It didn't create legislation that forced Homecomings or GMAC or anyone else to go out and give someone making $15/hour a loan on a $300K house. And that is what cause all the financial issues we have now.

It wasn't evil congress (dem or repub) passing laws, it was the mortgage industry getting greedy and doing ridiculous loans and no one was paying attention to the downside of. Those who knew about it either were ignored, or simply didn't want to say anything because they were greedy and wanted money.

Now.. if you'd like to put up your HS diploma against mine in this topic then please, let's see what you've got on it. Let's hear your opinions since you clearly don't believe I don't know what I'm talking about. Nevermind the fact that the real issue here (bad mortgages) is being addressed right now by the RTC's and other vehicles to get bad loans off good banks books. Apparently the real issue is that John McCain allowed banks to combine almost 10 years ago.

If you want proof that's the real problem, look at the market the last two days. We're up over 800 points. This is the type of move you use to see in months, even a year, and we've seen it in less than 48 hours. It'll come back down some in the next few days/few weeks.. but nothing like what we've been seeing unless there is another major issue that no one knows about.

This is a problem that EVERYONE in office is to blame for. There is no single party or person that you can point to here to blame, and that alone will get most democrats skirts in a bunch because that's their forte, blame others without talking about your own lack of action.

So please, give me some facts that dispute my stance. And you sure as shit better not pull out any lame ass "bush44" type uber-political responses that does nothing but say "well, I don't like your answer so I'm going to blame McCain because I'm not smart enough to actually think for myself". If you want to discuss the economy and the housing problems and financial problems, I'm all for it, just leave the weak ass "McCain did it" crap at home, that's something that might pass on a middle school message board where people don't know any better, but we're (mostly) adults here.

Cincy Fan 44 wrote:Dow currently up over 350 pts...WTFG!!!

up over 440 now... who knows where it'll be at the end of the day.

Bman, just for you:

DOW UP 40 POINTS IN PAST MONTH... UP 18% PAST 5 YEARS... UP 44% PAST 10 YEARS...

LTRT wrote:Bman, just for you:

DOW UP 40 POINTS IN PAST MONTH... UP 18% PAST 5 YEARS... UP 44% PAST 10 YEARS...

You need to make sure you get the right talking points from the McCain camp, Johnnie is running around screaming "CRISIS" CRISIS .... CRISIS and his advisors think that the word crisis helps him, so I guess the confusion is the right wing ... Bernanke, Paulson, McCain all think this is a crisis but you seem to think this is economic boom times. Well ... you and Card.

Big shock the dow rallies on news of a $1 Trillion buyout of the bad debt. Why is that huge profits are privatized but shitty loans and results are public debt? This Trillion dollar buy out just shifts the burden from the companies to Joe Taxpayer. Sad.

Well ... Card's, LT's and Cincy's Friday rally has been taken away today. As of the time of this posting the dow is down 380 points. Only posting this because our financial swami tried to rub my nose in the rally at the close of the week, but now people are getting more knowledgeable and the dow is tumbling. To King Henry's point, that Thursday and Friday's rally was false hope. The worse is yet to come.

lol.... pay attention to the market... there's a reason it was down yesterday, and it wasn't because the sky is falling chicken little. Seriously... you should just stop posting about the markets... you clearly know absolutely nothing about them.

cardinal5150 wrote:lol.... pay attention to the market... there's a reason it was down yesterday, and it wasn't because the sky is falling chicken little. Seriously... you should just stop posting about the markets... you clearly know absolutely nothing about them.

Really Einstein???? Really? Could it have fallen because the markets know there is more bad news out there and that this bail out is going to cost us dearly as we print more money to pay for this mess? Could it have dropped out of the fear of rising crude oil prices because of our economic mess? Really Einstein? Thanks for the offer of your brilliance but I think I will pass.

Bman wrote:
Really Einstein???? Really? Could it have fallen because the markets know there is more bad news out there and that this bail out is going to cost us dearly as we print more money to pay for this mess? Could it have dropped out of the fear of rising crude oil prices because of our economic mess? Really Einstein? Thanks for the offer of your brilliance but I think I will pass.

I didn't even have to hint at oil, but I knew you'd jump on it given your extreme lack on knowledge in the field.

Check out the price of oil today and the market, then get back to us and then let us know how your theory is working out for you.... Feel free to admit you're theory is completely bogus, it's ok.

Bman wrote:

cardinal5150 wrote:lol.... pay attention to the market... there's a reason it was down yesterday, and it wasn't because the sky is falling chicken little. Seriously... you should just stop posting about the markets... you clearly know absolutely nothing about them.

Really Einstein???? Really? Could it have fallen because the markets know there is more bad news out there and that this bail out is going to cost us dearly as we print more money to pay for this mess? Could it have dropped out of the fear of rising crude oil prices because of our economic mess? Really Einstein? Thanks for the offer of your brilliance but I think I will pass.

Bman, It'll be hard for you to hit a moving target. Besides, there's only ONE correct answer, and it's Cards. He knows better than the market what the market is doing, and exactly the reason why. That's why he's a rich genius multi-billionaire.

Please don't stimulate his adolescent antagonism, otherwise, hurry up and wear him out so he can go take his nappy nap.

Meta, sad thing is though is that I really believe he thinks he is all that ... I bet his shit does not stink either. lol

meta4 wrote:
Bman, It'll be hard for you to hit a moving target. Besides, there's only ONE correct answer, and it's Cards. He knows better than the market what the market is doing, and exactly the reason why. That's why he's a rich genius multi-billionaire.

Please don't stimulate his adolescent antagonism, otherwise, hurry up and wear him out so he can go take his nappy nap.

awwwwww... did little meta stumble into a topic he doesn't understand? It's ok.. you and bman can pat each other on the back while continuing to not address any direct questions because you don't have the knowledge to do so.

Damn Card take it easy

Mort wrote:Damn Card take it easy

I am taking it easy.. I'm getting a good laugh out of these two attempting to explain the market.. especially since Bman was smart enough to reference the price of oil on a day where contracts ended so the shorts drove up the price... side note.. it's back around $106 today bman.

cardinal5150 wrote:

Mort wrote:Damn Card take it easy

I'm getting a good laugh out of these two attempting to explain the market..

Wazzat? Have I ever attempted to explain the market? That would be like you trying to describe the "shape" of the internet. The market is similar, it's semi-ordered chaos... a stream. As soon as you look into it to see WHAT IT IS, it has already changed.

Neither you, nor anyone else will be able to convince me that they know the market. Well, I take that back. Paul Volcker, Alan Greenspan... maybe. I'm not sure I can express how you sound trying to play off, as fact, the things you say. You use neither solid reference, nor sufficient explanation for the claims made, and a piece of paper gained at BSU.

A really informed person doesn't need to support their knowledge with insults. It is what it is... n'stuff.

CHUCK NORRIS APPROVES OF THIS MESSAGE

meta4 wrote:
A really informed person doesn't need to support their knowledge with insults. It is what it is... n'stuff.

This coming from someone who uses the term "your chit is weak", referenced that I shouldn't have a HS diploma, told Mark (among others) that they can't comprehend basic English, that it's easier to talk to your 8 yr old... do we really need to go on with the insults you have thrown in just the past 3-4 days?

Though I guess that does make a point about how little you do actually know... using your own words there.

apparently Warren Buffet doesn't know anything either since he just bought $5B worth of stock in Goldman Sachs..