SO TRUEI have a post on Schumer coming out tomorro...

2008-12-17T15:30:00.000-05:00

SO TRUE

I have a post on Schumer coming out tomorrow

I blame the regulators and this whole era of "no regulation" - let them police themself

We don't fund these people, and then our national mantra is oversight is bad. And then people say "how could this happen?"

I wonder....

But you are so right - Madoff is but one thing - if you watch this market every day closely you see stuff all the time. Like the guys buying put options before bad news announced, or the guys loading on calls hours before a buyout. No one ever investigates this. Who bought all those Bear Stearns puts in the 30s Friday before it went to $2 Sunday night? Etc.

No one ever asks these questions - they happen every day in our "free market". And when the big boys finally get targeted (GS and MS) they run to government for protection - from the tactics they employ each day.

Its very dirty out there.

TMI happened to be watching CNBC today (while bein...

2008-12-17T15:20:00.000-05:00

TM

I happened to be watching CNBC today (while being good by getting on the treadmill) and they showed video tape of Bernard Madoff; the announcers absolutely villified this man (not that he doesn't deserve it but you are still innocent until proven guilty in this country) because he ran (and I paraphrase) "one of the largest ponzi schemes ever". While this may be true, his ponzi scheme doesn't compare to the credit crisis (which was a form of a ponzi scheme). But the credit crisis ponzi scheme is "ok" because we were all part of it to a degree. The credit crisis and its bad actors we choose to ignore.

Comments on Fund My Mutual Fund: Bookkeeping: Taking some Lennar (LEN) Profits

SO TRUEI have a post on Schumer coming out tomorro...

TMI happened to be watching CNBC today (while bein...