How to fix the markets

Vanity | 18 September 2008 | JasonC

[tcostell]

The fact that you say something like that tells me that you've never mqanaged a large amount of money (meaning more than 100 million). When you do control that amount of case, you realize very quickly that your decisions are constrained by things which aren't readily apparent to people who don't.

Apart from having TONS of unintended consequences, your idea would never work.

[Notary Sojac]

But we just tried the experiment of giving $100,000 loans to deadbeats on mainstreet, in case everybody forgot.

We sure did. And the originators that actually gave those loans (along with their hangers-on in the realty and homebuilder businesses) made billions and (if they had the savvy to cash out) walked away rich, and laughing.

Jason - that is what is causing the populist frenzy on FR with which you are so frustrated.

[dennisw]

Chris Cox is a stooge. I wish I knew who was giving him orders. I’d fire his dumb ass today

I’m gonna give you a clue. Libertarianism is a hot house flower that only exists in the USA due to our great wealth. Tribalism and nationalism is a much stronger force than libertarianism.

Our markets will always be regulated. What we need is intelligent regulation. I’d love to see naked shorting totally banned. The law is on the books I believe,

UK banned all shorting on financial for a few months to restore calm. I approve of this. I am not a libertarian or a some one who worships free markets instead of God

Hedge funds that short can die
I hope the new rules catch them unaware and they lose billions

You should go and short whatever you are shorting but if rules are changed on you I won’t be sympathetic

[downwdims]

I wouldn’t ban Short Selling. Merely Restore the Uptick rule

[dennisw]

I wouldn’t ban Short Selling. Merely Restore the Uptick rule
____________________

Do you object to UK banning shorting financials for a few months?

Long term your idea is better but right now the shorts have to be retrained for the good of UK and good of USA. And about certain pie in the sky libertarian “principles”? They are anti-social and will loose this tug of war

Seems to me the hedgers/shorts have been calling the shots with Chris Cox and Paulson. Their day is finished. Goldman Sachs and other “financials” called in tons of favors and got some sane rules put in place.

[RockinRight]

This has already pretty much happened. If you go to get a loan today, you’re based on the same standards used 15 years ago in many cases.

[JasonC]

Something very much like it is working as we speak.

[JasonC]

No, just upbeat about the future of this great country. Whenever we stand up and fight, our various enemies and challenges melt away like ice cream.

[downwdims]

IMO you gotta have the Shorts. Naked Shorts? No. Shorts with Uptick rule? Yes.

[dragnet2]

I say we jail all those low life scum that lost their homes, and caused those wealthy fat CEOs to drive their billion dollar companies into the ground.

Force all those low life’s to pay the CEOs next annual multi-million dollar bonuses.

[JasonC]

Long term I agree - if for nothing else, without the ability to short in the cash it is hard to make markets in options and properly hedge exposures and such. But first let's just murder the bastards, lol.

[JasonC]

Commies think jail and penalties are the way to everything. Capitalists instead work to make everyone a lot richer. Guess who won today.

[dragnet2]

Everyone better pull themselves up by their bootstraps and don’t expect government bailouts and handouts...

Except when it comes to *your* interest.

[Popman]

Yeah see, the difference is you don't pay, being a worthless slob.

In all your self apparent financial brilliance, you fall to see my post was tongue in cheek.

What a bonehead

Even put a disclaimer at the end of my post saying I was sorry for stepping on your post and you still insult me. Grow a sense of humor

[JasonC]

With all your apparent wit, you fail to see that my response was as tongue in cheek as your own.

[Popman]

Yeah see, the difference is you don't pay, being a worthless slob.

Gee, when you say in the first person and adding an noun such as "slob" as you did.

I just might take it personally

[JasonC]

Read post 11 again. Do you actually have any trouble borrowing money when you want it? If so, why?

[klamath]

Here is (D) congressman De Fazio of Oregon take on the economy.

http://www.defazio.house.gov/index.php?option=content&task=view&id=425

Says a bunch doesn’t it?

[Popman]

Do you actually have any trouble borrowing money when you want it? If so, why?

Man, you are dense. My post #11 was not about me.

I have gotten to the point in my life where I can pretty much borrow as much money as my income will allow without the lender blinking a eye. I have four paid for cars, a mortgage 50 % paid off and a small credit card debt I could pay off anytime I want to.

But the beautiful thing is I don't have to borrow money because I live within my means quite nicely and if need be I can save the money for a new whatever in short order

[JasonC]

Exactly. That is the actual situation of most of the people pretending to scream about the injustice of government support of Wall Street. As a fact, they can get whatever they want from Wall Street themselves, and don't need anything. Rather neatly destroying the favoritism premise of your snide initial remarks.