Get ready for eurozone fireworks
Don't be surprised to see some last-minute wrangling before Europe's version of TARP passes.
Remember when that first vote failed and the markets took that breathtaking dip?
We have to figure we could be on the road to that form of perdition right now, before the obstinate leaders in Europe come around to the impossibility of their position and the certain destruction of multiple banking institutions if they don't take action.
That's what this moment is all about. Just as it seemed Hank Paulson had the votes to get TARP approved and didn't -- the first time -- we have to be thinking that when a German finance minister calls part of the bailout "silly" and when there are 17 disparate parties arguing, nothing's a shoo-in.
So we wait. And we are tortured as we wait. And no one can be blamed for wanting to lock in a profit ahead of the wrangling.
We need taxes to run our government, it is a necessary evil. BUT, what I object to...even if there are tax increases they are not used to pay down our debt, it just allows congress to spend more and more and more. Congress has to stop spending our money wastefully, stop giving it away to other countries, like Pakistan, stop giving it away to solar companies that just bankrupt it, stop the damn stimulus and let the private sector do its job. Congress could increase revenues by closing all the loop holes in our tax codes for corporate America. Immelt needs to create jobs here in the U.S. instead of China!!
Have any of you seen the Charles Ferguson's Documentary Film, "Inside Job"? This 2010 Oscar winning film is a real eye opener and will help you realize that the stock markets were and continue to be controlled by the greedy crooks who started this financial meltdown in the first place. Nothing will ever change until the people responsible for creating this global depression are removed from power and made to pay for their crimes.
Europe is a failed experiment and many investors will lose alot of money. US investors should dump euro zone and allocate to USA. USA has come to the rescue of Europe enough times in the 20th century and enough is enough. Buy American.
Solyndra was a Gov't backed Guaranteed Loan. Funny how money can evaporate into thin air.
Reminds me of the 60s and 70s when Union money was loaned to companies that were owned by the Mafia. Somehow the money just evaporated and the company went belly up leaving the taxpayers holding the bag.
Solyndra is no different. We have a fool for a President and he should be Impeached.
I have taken note Cramer! It is okay to call the leaders in Europe 'obstinate' when talking about a bail out but you never describe your friends in Congress as 'obstinate'? How about using the same brush when you start painting red!
An Italian Finance minister picks up a dinner check - the US Stock Market goes up 200 points. A Greek merchant bounces a check - the Stock Market goes down 200 points. Talk about reactionary. And those clowns on Wall Street make $ millions. What a joke. Maybe the protestors down there are on to something.
They were loans, but the Gov't took their Toxic Assets as collateral. So in essence we have been paid back. The banks did not want to write them off so we took them.
We are suppose to get the money out of them by selling them when due. If they are toxic, I wonder if they are worth anything??
Some of the banks that took the loans found out the Gov't was going to monitor how they did business, so they paid the Gov't back right away. I wonder how they did that if they had no money that they needed loans?
The TARP money is now in a fund controlled by the Gov't which will loan out to small businesses. I am wondering if Solyndra's money was part of that fund?
One thing is sure. The rich and influential bank investors in Europe are going to call up their buddies voting on the issue and lean on them to pass a bailout.
I don't mind that the 'Gluttons' are going to go to the wall... I DO mind that some of us, who made a very good living through honest effort and a few conservative investments, are probably going to suffer along with them. I keep a gun by my bed these days.
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Tighter regulations and the end of a lengthy bull market in bonds have changed the landscape forever.
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