Comments on: Bailing Out the Bucket Shops http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/ Your home for traditional conservatism. Sat, 11 Feb 2012 19:05:39 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: J Meng http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190865 J Meng Mon, 08 Jun 2009 12:25:52 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190865 @3: You write well, but unfortunately for me (an economics illiterate) too arcanely. All the acronyms with which you punctuated your comment mean nothing to me. Maybe, you could write an article explaining all of this jargon in Chronicles. I would appreciate it. @4: Mark, I agree with you in general. However, I disagree that I am the enemy, because I did not vote for any of the crooks ruling us. As to tolerating them, it is forced, because what other options does the average Joe have? The political system doesn't work for the common good only for the crooks in power. Unless and until the people gain control of the U.S. armed forces toleration is the rule of the day. Of course, some of us could just drop out, go into the wilderness and live like the mountain men of yore. That is an option most urbanites-suburbanites reject or are unable to do. So, c'mon, lets enjoy the swift ride into the abyss and curse the likes of Bernanke, Cheney, Bush, Obama and the rest of the deceivers in our plummet into oblivion. You know as well as I do that our only hope is our Lord Jesus Christ; but this nation ignores Him. @3: You write well, but unfortunately for me (an economics illiterate) too arcanely. All the acronyms with which you punctuated your comment mean nothing to me. Maybe, you could write an article explaining all of this jargon in Chronicles. I would appreciate it.
@4: Mark, I agree with you in general. However, I disagree that I am the enemy, because I did not vote for any of the crooks ruling us. As to tolerating them, it is forced, because what other options does the average Joe have? The political system doesn't work for the common good only for the crooks in power. Unless and until the people gain control of the U.S. armed forces toleration is the rule of the day. Of course, some of us could just drop out, go into the wilderness and live like the mountain men of yore. That is an option most urbanites-suburbanites reject or are unable to do. So, c'mon, lets enjoy the swift ride into the abyss and curse the likes of Bernanke, Cheney, Bush, Obama and the rest of the deceivers in our plummet into oblivion. You know as well as I do that our only hope is our Lord Jesus Christ; but this nation ignores Him.

]]> By: Mark Higdon http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190809 Mark Higdon Fri, 05 Jun 2009 21:35:51 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190809 @5 Uh, I am speaking for myself. Just like you speak for yourself. It's called "opinion." @5 Uh, I am speaking for myself. Just like you speak for yourself. It's called "opinion."

]]> By: R. McCabe http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190808 R. McCabe Fri, 05 Jun 2009 15:59:58 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190808 Please speak for yourself, Mr. Higdon. If you are claiming to be an enemy of the people, then that's your business. Please speak for yourself, Mr. Higdon. If you are claiming to be an enemy of the people, then that's your business.

]]> By: Mark Higdon http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190778 Mark Higdon Thu, 04 Jun 2009 03:50:15 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190778 Theft is theft, and, with all due respect to "cohesive articles...about the financial meltdown," they add little to the fundamental truth that the powerful have stolen immeasurably from the weak (and countless generations of them yet to come) who put them in power and support them in power--or at least tolerate them. We have met the enemy, and he is us. Theft is theft, and, with all due respect to "cohesive articles...about the financial meltdown," they add little to the fundamental truth that the powerful have stolen immeasurably from the weak (and countless generations of them yet to come) who put them in power and support them in power--or at least tolerate them.

We have met the enemy, and he is us.

]]> By: A Credit Chap http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190775 A Credit Chap Wed, 03 Jun 2009 22:49:52 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190775 Dear Sir, I am surprised that you would write such a piece from a clear position of ignorance about the CDS market. There are simply too many holes in your comment to begin BUT just for fun - I would like you to explain the difference between your anti-CDS arguments and buying Equity Puts. Once you think through that little conundrum (remember FAS 157 allows hedged positions to be managed off balance sheet so banks can buy puts and move 'risky' equity positions off-balance sheet) bearing in mind that CDS are margined (yep!), collateralised (yep), and transparently priced (yep! ask Markit or CMA) - then please write your thoughts on why and how CDS caused us all to take on too much debt, lever our households, and spend more than we earn for 25 years...please note that MBS (residential or commercial) and the CMOs built upon them are not (in the tru sense of the word) credit derivatives and it appears to me that these are where the major mismarks and balance sheet holes reside. regards ACC... P.S. feel free to write some details regarding the differences between CDS and CDOs and how the latter are the major problems (not the former) and the fact that regulation of CDS markets is a good thing BUT will do very little for the CDO market and the holes in bank balance sheets driven by R/CMBS... Dear Sir,
I am surprised that you would write such a piece from a clear position of ignorance about the CDS market. There are simply too many holes in your comment to begin BUT just for fun - I would like you to explain the difference between your anti-CDS arguments and buying Equity Puts. Once you think through that little conundrum (remember FAS 157 allows hedged positions to be managed off balance sheet so banks can buy puts and move 'risky' equity positions off-balance sheet) bearing in mind that CDS are margined (yep!), collateralised (yep), and transparently priced (yep! ask Markit or CMA) - then please write your thoughts on why and how CDS caused us all to take on too much debt, lever our households, and spend more than we earn for 25 years...please note that MBS (residential or commercial) and the CMOs built upon them are not (in the tru sense of the word) credit derivatives and it appears to me that these are where the major mismarks and balance sheet holes reside. regards ACC...
P.S. feel free to write some details regarding the differences between CDS and CDOs and how the latter are the major problems (not the former) and the fact that regulation of CDS markets is a good thing BUT will do very little for the CDO market and the holes in bank balance sheets driven by R/CMBS...

]]> By: R. McCabe http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190770 R. McCabe Wed, 03 Jun 2009 19:50:28 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190770 Second. This is the most cohesive article I've read anywhere about the financial meltdown. Second. This is the most cohesive article I've read anywhere about the financial meltdown.

]]> By: Tom Piatak http://www.chroniclesmagazine.org/2009/06/03/bailing-out-the-bucket-shops/comment-page-1/#comment-190766 Tom Piatak Wed, 03 Jun 2009 16:22:31 +0000 http://www.chroniclesmagazine.org/?p=1884#comment-190766 Prof. Quirk's writing on the financial crisis in Chronicles has been outstanding. Prof. Quirk's writing on the financial crisis in Chronicles has been outstanding.

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