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kirkydu (93.87)

If you don't understand this...

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October 09, 2009 – Comments (10)

you don't understand anything.

Bill Moyers interview of William Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout

http://kirkspano.com/component/option,com_weblinks/task,view/catid,25/id,188/

In response to some of the silly comments, generally of an ignorant political or economic nature, that I have read here.

10 Comments – Post Your Own

#1) On October 09, 2009 at 3:11 PM, Tastylunch (29.52) wrote:

Willaim Black is one of the very public figure guys who gets it.

 of course that's why he's no longer employed by the Us gov't :(

thx for the link Black is insightful and depressing as always.

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#2) On October 09, 2009 at 4:58 PM, 4everlost (29.47) wrote:

I agree with you about WB.  I first saw that video a few months ago.  It's enlightening, I think.

Hey Tasty lovely weather we're having in Central Ohio right now, isn't it?

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#3) On October 09, 2009 at 5:11 PM, Tastylunch (29.52) wrote:

4everlost

Hah yeah perfect Buckeye football weather

it's drizzled what, all week now?

eh it has to rain sometime I guess.

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#4) On October 09, 2009 at 5:16 PM, MattH42004 (32.40) wrote:

Should be required viewing, but it will be largely ignored. 

Beginning at 14:45...

WILLIAM K. BLACK: We don't want to change the bankers, because if we do, if we put honest people in who didn't cause the problem their first job would be to find the scope of the problem, and that would destroy the cover-up.

BILL MOYERS: Cover up? 

WILLIAM K. BLACK: Sure. The cover up. 

BILL MOYERS: That's a serious charge. 

WILLIAM K. BLACK: Of course. 

BILL MOYERS: Who's covering up? 

WILLIAM K. BLACK: Geithner is charging, is covering up. Just like Paulson did before him. Geithner is publicly saying that it's going to take $2 trillion — a trillion is a thousand billion — $2 trillion taxpayer dollars to deal with this problem. But they're allowing all the banks to report that they're not only solvent, but fully capitalized. Both statements can't be true. It can't be that they need $2 trillion, because they have masses losses, and that they're fine. 

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#5) On October 09, 2009 at 10:35 PM, jesusfreakinco (29.13) wrote:

Good find...  Thanks for passing it on.

Here is another critical article to look at this weekend. Gold may be failing soon.

JFC

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#6) On October 09, 2009 at 11:41 PM, kirkydu (93.87) wrote:

I sold my gold and international currencies last week, have half that money in mm and half in a short fund.  Gold is a silly investment, never understood how a commodity with no real use has such value.  Oooooooo, it's pretty.  If people really think there will be inflation, invest in agriculture, water, oil, iron ore and copper.

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#7) On October 10, 2009 at 1:46 AM, amassafortune (29.65) wrote:

If the administration really wants transparency of the banking crisis, all they need to do is pull a Shawshank transparency maneuver. Simply pay top executives every bonus dollar they feel they are entitled to, and give every Andy Dufresne below them zero. The hidden details would appear in no time. 

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#8) On October 10, 2009 at 12:37 PM, binv271828 (< 20) wrote:

Awesome post, thanks for the link! And I agree with Tasty: "Willaim Black is one of the very public figure guys who gets it.". I also lament that too many who do get it have no power.

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#9) On October 10, 2009 at 1:30 PM, rofgile (99.34) wrote:

Comment #6 of kirkydru is right on.

 The other way I am playing dollar depreciation is investing in companies that have large export business, or American companies with large overseas business.

 Companies like MTW, CAT, etc benefit from lower dollar value.

 Even GOOG has had great quarters in times of low dollar strength.

 

 -Rof 

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#10) On October 11, 2009 at 1:05 PM, MattH42004 (32.40) wrote:

HERE is another great one. Simon Johnson, much like Mr. Black, is also one of the few public faces who truly gets it. I don't know enough about congresswoman Kaptur, but she seems respectable. 

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