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alstry (35.41)

The BS is getting outta hand

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September 11, 2008 – Comments (5)

CEO's saying they see the light at the end of the tunnel and then dumping millions of shares at the same time.

Banks saying they are well capitalized when much of the capital is capitalized interest that is likely to default.

Companies creating illusory revenues by selling to customers on credit they know are likely unable to pay simply to maintain compliance with the dwindling credit facility.

Auto companies want to borrow $50 Billion that they know they can never repay.

Our government taking billions $$$ from taxpayers and giving it to a few select financial institutions.

Policticians on both sides of the table knowing how bad things are and making BS promises.

The $$$ well is running dry.  Buffett knows it and has stopped insuring banks.  No more stupid soverign funds to pony up billions only to watch it evaporate a few months later.  Companies shutting down daily as banks simply can't extend anymore credit and play the BS game anymore.

Volcker is telling us the system is f#*ked and Wall Street cheers?  Trust is running low, false rumors running high, and nobody knows what is behind door number 3.  Once people really know how distressed the financial condition is of many our companies, public and private,....it will take over a generation to repair the damage that will be inflicted.

Remember if the banking system is screwed, we are all screwed.

 

5 Comments – Post Your Own

#1) On September 11, 2008 at 6:48 PM, RVAspeculator (29.00) wrote:

You have got it right alstry....   They are getting so predictable I called this bailout on my blog this morning...  Check it out if you get a chance.

They are so easy to read now they are like a childrens book.   Stocks go down, bailout.. . stocks go down, bailout.   2 major bailouts in the same week now?!  Crazy.

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#2) On September 11, 2008 at 6:50 PM, alstry (35.41) wrote:

There are really very few people doing any real honest to goodness DD anymore.

I am beginning to feel like we are sitting at our last supper.  The only issue now is whether we are simply going to go broke or are we the ones about to get crucified?

The War Drums are beating louder and louder.  Russia rumbling about assisting Iran with its nooklear program and Iran obtaining or about to obtain sophisticated S-300 air defense missles......what do you think about the impact of $500 per barrel oil????

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#3) On September 11, 2008 at 7:02 PM, alstry (35.41) wrote:

RV,

The tide may be turning on the bailout issue.  Sure Bear was bailed and the market reacted as if there was a Fannie/Freddie bailout only because they called it a rescue package......HOWEVER....there was no bailout, the common and preferred shareholders were basically wiped out.  The only bailout was for a few banks holding debt.

The bazooka has been fired for equity holders....is there any pellets left for the rest of the universe?

You can only fool the public for so long before they realize their equity is being wiped out. 

Now we have WaMu and LEH on deck.  I have serious reservations whether much salvation will come to equity holders here either. 

Once stockholders realize that there is a big goose egg at the end of the rainbow......how long do you think they will simply stand there clicking their ruby slippers before liquidating stock holdings?

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#4) On September 11, 2008 at 7:26 PM, jahbu (89.61) wrote:

impact?  Hmmmm new currency called the Amero, a North American Union, and a Fascist Monarchy.  

Will people stand up and fight this?

I hope so, but most live inside the television these days.

I wonder how many Ameros it will take to buy an ounce of gold or barrel of oil?

If George Bush's picture is placed on one of the new Ameros, that would be the best knife the globalist could  ever jab in the heart of the defenders of the Constitution.

Jahbu

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#5) On September 11, 2008 at 7:44 PM, alstry (35.41) wrote:

At this point, the question now is how long will Wall Street be willing to BS the fact that many of the important industries in America are BANKRUPT but are keeping the doors open because credit is being extended to conceal this fact?

Many of our public and private companies simply have too much debt and too little income to remain solvent much longer.  Wall Street is trying to have you believe that we are nearing a bottom again and again as insiders and preferred instituional clients are dumping their shares.

Until we restructure this problem, we are only digging a deeper hole for ourselves and our children.  Each week we are waking up to see equity evaporate.

CAPs is a game about stocks.  Stocks are equity.  Little by little Wall Street is revealing to us that many of our companies have no equity left.......and they have the balls to call it a rescue?

It shouldn't be much longer now before the masses figure out that Wall Street is stripping the public of a little more equity week after week.  And some people are recommending to buy equities?????

 

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