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Jerry Kraus
Posted: Thu Oct 02, 2008 3:33 pm
Guest
http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren. Don't you have enough money? Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire? Go screw yourself, Warren. You are protecting
no one but yourself.

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies. The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it. So, he is whining to the government. "Give me
money!! Give me money!! I want my money!!"

Sorry, Warren. You lose your money through inflation, or the markets
collapse, or both. You have destroyed the American economy through
your greed and stupidity. Live with it, Warren. You earned it.
zzbunker
Posted: Thu Oct 02, 2008 4:15 pm
Guest
On Oct 2, 11:33 am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:
Quote:
http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren.  Don't you have enough money?  Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire?  Go screw yourself, Warren.  You are protecting
no one but yourself.

Well, obviously. Since he donated most of his money to the tax-free
Gates Foundation, that's mostly why the people who are real
engineers,
and not crank druid Lawyers invented the HDTV-puters, Optical
Computers,
RISC++, Elibraries, Post AT&T fiber optics, Blogs, On-Line-
Publishing, On-Line Banking,
Post New York Times Subcriptions, All-In-One-Printers, post
McDonald's Holograms,
Post Ford Batteries, Adaptive Piezo, Adaptive PV Cells, neo-wind
energy, neo-solar energy,
biodiesel, Post GM robotics, drones, AUVs, AAVs, cruise missiles,
laser-guided bombs,
laser-guided lasers, CD+rw, DVD-stack, Bose, GPS, XML, USB, DU Guns,
and non-wank
IBM ZOOT SUITS,




Quote:

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies.  The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it.  So, he is whining to the government.  "Give me
money!!  Give me money!!  I want my money!!"

Sorry, Warren.  You lose your money through inflation, or the markets
collapse, or both.  You have destroyed the American economy through
your greed and stupidity.  Live with it, Warren.  You earned it.
Jerry Kraus
Posted: Thu Oct 02, 2008 4:17 pm
Guest
On Oct 2, 11:15 am, zzbunker <zzbun...@netscape.net> wrote:
Quote:
On Oct 2, 11:33 am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren.  Don't you have enough money?  Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire?  Go screw yourself, Warren.  You are protecting
no one but yourself.

  Well, obviously. Since he donated most of his money to the tax-free
  Gates Foundation, that's mostly why the people who are real
engineers,
  and not crank druid Lawyers invented the  HDTV-puters, Optical
Computers,
  RISC++, Elibraries, Post AT&T fiber optics, Blogs, On-Line-
Publishing,  On-Line Banking,
  Post New York Times Subcriptions, All-In-One-Printers, post
McDonald's Holograms,
  Post Ford Batteries, Adaptive Piezo, Adaptive PV Cells, neo-wind
energy, neo-solar energy,
  biodiesel,  Post GM robotics, drones,  AUVs, AAVs, cruise missiles,
laser-guided bombs,
  laser-guided lasers, CD+rw, DVD-stack, Bose, GPS, XML, USB, DU Guns,
and non-wank
  IBM ZOOT SUITS,





Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies.  The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it.  So, he is whining to the government.  "Give me
money!!  Give me money!!  I want my money!!"

Sorry, Warren.  You lose your money through inflation, or the markets
collapse, or both.  You have destroyed the American economy through
your greed and stupidity.  Live with it, Warren.  You earned it.- Hide quoted text -

- Show quoted text -

Gee. That must be why the economy's in such great shape. Thankyou
for clarifying that point.
Les Cargill
Posted: Fri Oct 03, 2008 4:42 am
Guest
Jerry Kraus wrote:
Quote:
http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren. Don't you have enough money? Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire? Go screw yourself, Warren. You are protecting
no one but yourself.

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies. The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it. So, he is whining to the government. "Give me
money!! Give me money!! I want my money!!"


BUT.... BUT ... YOU GAVE THEM OTHER GUYZ MONEY!

"All I want is what I have coming. All I want is my fair share" - Sally
Brown, "A Charlie Brown Christmas."

Quote:
Sorry, Warren. You lose your money through inflation, or the markets
collapse, or both. You have destroyed the American economy through
your greed and stupidity. Live with it, Warren. You earned it.


Whut, Warren? Warren buys distressed companies and fixes 'em. It's the
used furniture bidness... he'll clean *up*.

--
Les Cargill
zzbunker@netscape.net
Posted: Fri Oct 03, 2008 9:16 am
Guest
On Oct 2, 12:17 pm, Jerry Kraus <jkraus_1...@yahoo.com> wrote:
Quote:
On Oct 2, 11:15 am,zzbunker<zzbun...@netscape.net> wrote:





On Oct 2, 11:33 am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren.  Don't you have enough money?  Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire?  Go screw yourself, Warren.  You are protecting
no one but yourself.

  Well, obviously. Since he donated most of his money to the tax-free
  Gates Foundation, that's mostly why the people who are real
engineers,
  and not crank druid Lawyers invented the  HDTV-puters, Optical
Computers,
  RISC++, Elibraries, Post AT&T fiber optics, Blogs, On-Line-
Publishing,  On-Line Banking,
  Post New York Times Subcriptions, All-In-One-Printers, post
McDonald's Holograms,
  Post Ford Batteries, Adaptive Piezo, Adaptive PV Cells, neo-wind
energy, neo-solar energy,
  biodiesel,  Post GM robotics, drones,  AUVs, AAVs, cruise missiles,
laser-guided bombs,
  laser-guided lasers, CD+rw, DVD-stack, Bose, GPS, XML, USB, DU Guns,
and non-wank
  IBM ZOOT SUITS,

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies.  The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it.  So, he is whining to the government.  "Give me
money!!  Give me money!!  I want my money!!"

Sorry, Warren.  You lose your money through inflation, or the markets
collapse, or both.  You have destroyed the American economy through
your greed and stupidity.  Live with it, Warren.  You earned it.- Hide quoted text -

- Show quoted text -

Gee.  That must be why the economy's in such great shape.  Thankyou
for clarifying that point.- Hide quoted text -

Nobody ever claimed the economy is in great shape.
The only thing most of us ever claimed is that the only thing
Wall Street stooges know about A.I. science, engineering,
computers, networks, economics, or jobs, is AT&T jingo boxes and
Warren Buffet.




Quote:

- Show quoted text -
Jerry Kraus
Posted: Fri Oct 03, 2008 2:17 pm
Guest
On Oct 3, 4:16 am, "zzbun...@netscape.net" <zzbun...@netscape.net>
wrote:
Quote:
On Oct 2, 12:17 pm, Jerry Kraus <jkraus_1...@yahoo.com> wrote:





On Oct 2, 11:15 am,zzbunker<zzbun...@netscape.net> wrote:

On Oct 2, 11:33 am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren.  Don't you have enough money?  Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire?  Go screw yourself, Warren.  You are protecting
no one but yourself.

  Well, obviously. Since he donated most of his money to the tax-free
  Gates Foundation, that's mostly why the people who are real
engineers,
  and not crank druid Lawyers invented the  HDTV-puters, Optical
Computers,
  RISC++, Elibraries, Post AT&T fiber optics, Blogs, On-Line-
Publishing,  On-Line Banking,
  Post New York Times Subcriptions, All-In-One-Printers, post
McDonald's Holograms,
  Post Ford Batteries, Adaptive Piezo, Adaptive PV Cells, neo-wind
energy, neo-solar energy,
  biodiesel,  Post GM robotics, drones,  AUVs, AAVs, cruise missiles,
laser-guided bombs,
  laser-guided lasers, CD+rw, DVD-stack, Bose, GPS, XML, USB, DU Guns,
and non-wank
  IBM ZOOT SUITS,

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies.  The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it.  So, he is whining to the government.  "Give me
money!!  Give me money!!  I want my money!!"

Sorry, Warren.  You lose your money through inflation, or the markets
collapse, or both.  You have destroyed the American economy through
your greed and stupidity.  Live with it, Warren.  You earned it..- Hide quoted text -

- Show quoted text -

Gee.  That must be why the economy's in such great shape.  Thankyou
for clarifying that point.- Hide quoted text -

   Nobody ever claimed the economy is in great shape.
   The only thing most of us ever claimed is that the only thing
   Wall Street stooges know about A.I.  science, engineering,
   computers, networks,  economics, or jobs, is AT&T jingo boxes and
Warren Buffet.





- Show quoted text -- Hide quoted text -

- Show quoted text -- Hide quoted text -

- Show quoted text -

Sure. But, is there any possibility that the "free market" is rather
unlikely to generate the fundamental new technologies we need? After
all, it's very hard to control a patent on a fundamentally new
technology. Too much incentive to steal it, or modify it slightly, to
go around the patent. Inventions that help and fundamentally change
society tend not to make money for their inventors. One of the flaws
in Capitalism, perhaps?
zzbunker@netscape.net
Posted: Sat Oct 04, 2008 12:43 am
Guest
On Oct 3, 10:17 am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:
Quote:
On Oct 3, 4:16 am, "zzbun...@netscape.net" <zzbun...@netscape.net
wrote:





On Oct 2, 12:17 pm, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

On Oct 2, 11:15 am,zzbunker<zzbun...@netscape.net> wrote:

On Oct 2, 11:33 am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren.  Don't you have enough money?  Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire?  Go screw yourself, Warren.  You are protecting
no one but yourself.

  Well, obviously. Since he donated most of his money to the tax-free
  Gates Foundation, that's mostly why the people who are real
engineers,
  and not crank druid Lawyers invented the  HDTV-puters, Optical
Computers,
  RISC++, Elibraries, Post AT&T fiber optics, Blogs, On-Line-
Publishing,  On-Line Banking,
  Post New York Times Subcriptions, All-In-One-Printers, post
McDonald's Holograms,
  Post Ford Batteries, Adaptive Piezo, Adaptive PV Cells, neo-wind
energy, neo-solar energy,
  biodiesel,  Post GM robotics, drones,  AUVs, AAVs, cruise missiles,
laser-guided bombs,
  laser-guided lasers, CD+rw, DVD-stack, Bose, GPS, XML, USB, DU Guns,
and non-wank
  IBM ZOOT SUITS,

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies.  The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it.  So, he is whining to the government.  "Give me
money!!  Give me money!!  I want my money!!"

Sorry, Warren.  You lose your money through inflation, or the markets
collapse, or both.  You have destroyed the American economy through
your greed and stupidity.  Live with it, Warren.  You earned it.- Hide quoted text -

- Show quoted text -

Gee.  That must be why the economy's in such great shape.  Thankyou
for clarifying that point.- Hide quoted text -

   Nobody ever claimed the economy is in great shape.
   The only thing most of us ever claimed is that the only thing
   Wall Street stooges know about A.I.  science, engineering,
   computers, networks,  economics, or jobs, is AT&T jingo boxes and
Warren Buffet.

- Show quoted text -- Hide quoted text -

- Show quoted text -- Hide quoted text -

- Show quoted text -

Sure.  But, is there any possibility that the "free market" is rather
unlikely to generate the fundamental new technologies we need?  After
all, it's very hard to control a patent on a fundamentally new
technology.  Too much incentive to steal it, or modify it slightly, to
go around the patent.   Inventions that help and fundamentally change
society tend not to make money for their inventors.  One of the flaws
in Capitalism, perhaps?- Hide quoted text -

That's what they said about radio, Until they the wanks discovered
that
radio isn't REALLY an antenna, it's a microwave repeater.
And that's also what the idiots said about elevators.




Quote:

- Show quoted text -
(David P.)
Posted: Sun Oct 05, 2008 3:53 am
Guest
"Rod Speed" <rod.speed....@gmail.com> wrote:
Quote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote

is there apossibility that the "free market" is
unlikely to generate the new tech we need?

Having fun thrashing that straw man?  He didnt
even mention any 'free market'

After all, it's very hard to control a patent on
a fundamentally new technology. Too much
incentive to steal it, or modify it slightly, to go
around the patent. Inventions that help and
fundamentally change society tend not to make
money for their inventors.  One of the flaws in
Capitalism, perhaps?

Not a flaw so much as something any inventor
needs to allow for.

Well, that shut _him_ up!
..
..
--
Jerry Kraus
Posted: Mon Oct 06, 2008 2:21 pm
Guest
On Oct 5, 6:44 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
Quote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote





David Pee <imb...@mindspring.com> wrote
Rod Speed <rod.speed....@gmail.com> wrote
Jerry Kraus <jkraus_1...@yahoo.com> wrote
is there apossibility that the "free market" is
unlikely to generate the new tech we need?
Having fun thrashing that straw man?
He didnt even mention any 'free market'
After all, it's very hard to control a patent on
a fundamentally new technology. Too much
incentive to steal it, or modify it slightly, to go
around the patent. Inventions that help and
fundamentally change society tend not to make
money for their inventors. One of the flaws in
Capitalism, perhaps?
Not a flaw so much as something any inventor needs to allow for.
Well, that shut _him_ up!
Not really.

It clearly did.

I thought it was such a stupid remark that I didn't think it was worth replying to.

Never ever could bullshit and lie its way out of a wet paper bag.

Although, I realize that the Capitalist > true believers do have some difficulty grasping
the imperfections in their system.  Even, as it collapses around their ears.

Nothing is collapsing around my ears, fuckwit.- Hide quoted text -

- Show quoted text -

So, how are your stocks doing, Rod?

http://finance.yahoo.com/
Jerry Kraus
Posted: Mon Oct 06, 2008 6:18 pm
Guest
On Oct 6, 12:57 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
Quote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote:
On Oct 5, 6:44 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote

David Pee <imb...@mindspring.com> wrote
Rod Speed <rod.speed....@gmail.com> wrote
Jerry Kraus <jkraus_1...@yahoo.com> wrote
is there apossibility that the "free market" is
unlikely to generate the new tech we need?
Having fun thrashing that straw man?
He didnt even mention any 'free market'
After all, it's very hard to control a patent on
a fundamentally new technology. Too much
incentive to steal it, or modify it slightly, to go
around the patent. Inventions that help and
fundamentally change society tend not to make
money for their inventors. One of the flaws in
Capitalism, perhaps?
Not a flaw so much as something any inventor needs to allow for.
Well, that shut _him_ up!
Not really.

It clearly did.

I thought it was such a stupid remark that I didn't think it was
worth replying to.

Never ever could bullshit and lie its way out of a wet paper bag.

Although, I realize that the Capitalist > true believers do have
some difficulty grasping the imperfections in their system. Even,
as it collapses around their ears.

Nothing is collapsing around my ears, fuckwit.
So, how are your stocks doing, Rod?

They aint crashing around my ears.- Hide quoted text -

- Show quoted text -

Good for you, Rod. Given the Market's down 600 points at this time,
following its new 4 year low on Friday, it sounds like you could make
some good money as an investment counsellor. Have a go.
BuffetHater
Posted: Mon Oct 06, 2008 6:19 pm
Guest
Quote:
They aint crashing around my ears.

Had to Pawn your ears, eh?
V
Posted: Mon Oct 06, 2008 6:59 pm
Guest
On Oct 2, 11:33�am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:
Quote:
http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren. �Don't you have enough money? �Do you really have to
tax the Hell out of the American people just to prop up your multi-
billion dollar empire? �Go screw yourself, Warren. �You are protecting
no one but yourself.

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies. �The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it. �So, he is whining to the government. �"Give me
money!! �Give me money!! �I want my money!!"

Sorry, Warren. �You lose your money through inflation, or the markets
collapse, or both. �You have destroyed the American economy through
your greed and stupidity. �Live with it, Warren. �You earned it.




Well spoken post Jerry.

Buffet wants his stocks to keep going up. So of course he is for
supporting Wall Street at the expense of the financial reamout of the
taxpayer.

Buffet says his kids will have a better life than he and their kids
will have a better life their parents and on and on in perpetuity.

Maybe that is for a billionaire but not for the average Joe or Jane.

Have you ever known a rich man eagerly take losses in their
investments to help out the taxpayer from being further buried in
debt?

Did Buffet ever tell America one word about the sick state of affairs
with our unsustainable consumption and greed driven economy?
Guest
Posted: Mon Oct 06, 2008 7:03 pm
On Mon, 6 Oct 2008 07:21:21 -0700 (PDT), Jerry Kraus
<jkraus_1999@yahoo.com> wrote:

Quote:
So, how are your stocks doing, Rod?

http://finance.yahoo.com/


Where's Freddi these days and his doom and gloom accusations?
Rod Speed
Posted: Mon Oct 06, 2008 7:04 pm
Guest
Jerry Kraus <jkraus_1999@yahoo.com> wrote:
Quote:
On Oct 5, 6:44 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote





David Pee <imb...@mindspring.com> wrote
Rod Speed <rod.speed....@gmail.com> wrote
Jerry Kraus <jkraus_1...@yahoo.com> wrote
is there apossibility that the "free market" is
unlikely to generate the new tech we need?
Having fun thrashing that straw man?
He didnt even mention any 'free market'
After all, it's very hard to control a patent on
a fundamentally new technology. Too much
incentive to steal it, or modify it slightly, to go
around the patent. Inventions that help and
fundamentally change society tend not to make
money for their inventors. One of the flaws in
Capitalism, perhaps?
Not a flaw so much as something any inventor needs to allow for.
Well, that shut _him_ up!
Not really.

It clearly did.

I thought it was such a stupid remark that I didn't think it was
worth replying to.

Never ever could bullshit and lie its way out of a wet paper bag.

Although, I realize that the Capitalist > true believers do have
some difficulty grasping the imperfections in their system. Even,
as it collapses around their ears.

Nothing is collapsing around my ears, fuckwit.

So, how are your stocks doing, Rod?

They aint crashing around my ears.
Guest
Posted: Mon Oct 06, 2008 7:04 pm
On Mon, 6 Oct 2008 11:18:14 -0700 (PDT), Jerry Kraus
<jkraus_1906@yahoo.com> wrote:

Quote:

Good for you, Rod. Given the Market's down 600 points at this time,
following its new 4 year low on Friday, it sounds like you could make
some good money as an investment counsellor. Have a go.


I'm feeling pretty lucky. I pulled my small nest egg out of stocks in
Oct. 07 and was waiting for things to look a bit more stable before
going back in. I'm still waiting a year later. But I'm happy about it.
well as happy as one can be about such at a time like this.
Rod Speed
Posted: Mon Oct 06, 2008 7:05 pm
Guest
Jerry Kraus <jkraus_1906@yahoo.com> wrote:
Quote:
On Oct 6, 12:57 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote:
On Oct 5, 6:44 pm, "Rod Speed" <rod.speed....@gmail.com> wrote:
Jerry Kraus <jkraus_1...@yahoo.com> wrote

David Pee <imb...@mindspring.com> wrote
Rod Speed <rod.speed....@gmail.com> wrote
Jerry Kraus <jkraus_1...@yahoo.com> wrote
is there apossibility that the "free market" is
unlikely to generate the new tech we need?
Having fun thrashing that straw man?
He didnt even mention any 'free market'
After all, it's very hard to control a patent on
a fundamentally new technology. Too much
incentive to steal it, or modify it slightly, to go
around the patent. Inventions that help and
fundamentally change society tend not to make
money for their inventors. One of the flaws in
Capitalism, perhaps?
Not a flaw so much as something any inventor needs to allow for.
Well, that shut _him_ up!
Not really.

It clearly did.

I thought it was such a stupid remark that I didn't think it was
worth replying to.

Never ever could bullshit and lie its way out of a wet paper bag.

Although, I realize that the Capitalist > true believers do have
some difficulty grasping the imperfections in their system. Even,
as it collapses around their ears.

Nothing is collapsing around my ears, fuckwit.
So, how are your stocks doing, Rod?

They aint crashing around my ears.

Good for you, Rod. Given the Market's down 600 points at this time,
following its new 4 year low on Friday, it sounds like you could make
some good money as an investment counsellor.

I prefer to make good money for myself instead and have been doing that for getting on for half a century now fine.

Quote:
Have a go.

No thanks. I've found that few can really understand what you
are saying so cant be relied on to actually do what you suggest.
Les Cargill
Posted: Tue Oct 07, 2008 6:09 am
Guest
Michael Coburn wrote:
Quote:
On Mon, 06 Oct 2008 18:18:32 -0400, Les Cargill wrote:

John Galt wrote:

retrogrouch@comcast.net wrote:

On Mon, 06 Oct 2008 21:54:24 +0200, John Galt <kady101@gmail.com
wrote:

retrogrouch@comcast.net wrote:

On Mon, 6 Oct 2008 12:22:20 -0700 (PDT), Jerry Kraus
jkraus_1999@yahoo.com> wrote:

He agrees with 95% of what you boys say. WHy are you seeking to
burn him if effigy?- Hide quoted text -

- Show quoted text -
Because he's begging to prop up a corrupt system. Buffet's system
must die. It is evil.

You'd do well to listen to him. He wants it changed. But he's also
very knowledgable about what's out there and what the effects will
be.

He's been calling to regulate it and change it and get back to core
American values of thrift and savings and long term investing. Read
about how he lives. And what he says the system needs.
And you do that reading by studying the Annual Reports of Berkshire
Hathaway, which he writes himself and contains all the information
you need about what Warren considers prudent financial management.


This looks like the mob in the French revolution. All the nobility
will go to the guillotine regardless of culpability. this sort of
ignorance scares me.

Yep.

I've lived in India. I would prefer to not have it recreated here. But,
that's the end result if these financial Luddites ever get control.

JG



It's more likely than you think, I fear. What's sad is that < 5% of all
mortgages are the rotting corpse at the bottom of the village well. And
had people even been *allowed* to exercise any common sense at all, at
least half of those would not have been written at all.

The point is more valid on the other side of the issue concerning the
mortgages. Some microscopic number and some microscopic amount are due
to the 1997 and 1990's efforts of "Community Reinvestment Act" that the
Republicans want to couple with Fannie Mae being regulated by Congress
(and hence, supposedly by Democrats SOMEHOW).

That alignment is a nit.

The Stan Leibowitz article claims that Countrywide "had a
$600 B commitment to low-income loans" by 2003. Not 100%
sure what that means... the standard line on CRA is that
it didn't represent a large liability.

http://www.independent.org/newsroom/article.asp?id=2114

But still, standards slipped radically. I'm being
strictly *non*partisan here - there is a great degree of
continuity between Clinton and Bush era housing policies.
They only serve as timeline markers in my opinion.

Quote:
The major problem in the poor mortgages was the
BUSH initiative of 2001 that was to increase home ownership by minorities
and the American Dream Downpayment Act that helped low income people with
the downpayments further reducing the appreciation of the
responsibilities of mortgaged homes by the "owners". You will find that
the loans were made in the "berbs" and not in the inner city where
"Community Reinvestment" was targeted.


The ADDA only allocated $200M in *grants*. Hardly seems the stuff of
panics. I am also not sure that burbs or urban matters much - heck,
with gentrification, people could get in a lot more trouble in
urban properties, where values soared.

Quote:
But more importantly you will find that the problem isn't really these
mortgages either but the tools used to back such financial escapades.
This is where we get into the credit swap derivative markets and the
_REAL_ financial mess; the self induced euphoric notion of endless
bubbling and "PROTECTION AGAINST FAILURE".

It was caused by the total lack of any oversight or regulation of these
very highly leveraged "financial insurance" instruments.


I don't think reinsurance is the villain of the piece. Now, it is
*entirely* possible ( even likely ) to *abuse* it. But you really
do get to extend more leverage that way. Just not as much
as was extended. Reinsurance is a pattern I recognize
from signals processing. It really does create more "bandwidth"
by randomizing "failures.", assuming I'm not misapplying a metaphor.

Maybe I have seen too many Mamet plays, but the idea of a martinet
"sales manager" whipping the troops to bring in more contracts
while screaming "coffee's for closers" has far too much resonance.
And since that's the last line of defense for filtering high risk
borrowers....

--
Les Cargill
Mike
Posted: Tue Oct 07, 2008 6:48 am
Guest
On Mon, 06 Oct 2008 18:19:43 -0400, Les Cargill wrote:

Quote:
Mike wrote:

On Mon, 06 Oct 2008 12:18:03 -0700, retrogrouch wrote:


On Mon, 6 Oct 2008 11:59:20 -0700 (PDT), V <vfr44@aol.com> wrote:


On Oct 2, 11:33?am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren. ?Don't you have enough money? ?Do you really have
to tax the Hell out of the American people just to prop up your
multi- billion dollar empire? ?Go screw yourself, Warren. ?You are
protecting no one but yourself.

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies. ?The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it. ?So, he is whining to the government. ?"Give me
money!! ?Give me money!! ?I want my money!!"

Sorry, Warren. ?You lose your money through inflation, or the markets
collapse, or both. ?You have destroyed the American economy through
your greed and stupidity. ?Live with it, Warren. ?You earned it.




Well spoken post Jerry.

Buffet wants his stocks to keep going up. So of course he is for
supporting Wall Street at the expense of the financial reamout of the
taxpayer.

Buffet says his kids will have a better life than he and their kids
will have a better life their parents and on and on in perpetuity.

Maybe that is for a billionaire but not for the average Joe or Jane.

Have you ever known a rich man eagerly take losses in their
investments to help out the taxpayer from being further buried in
debt?

Did Buffet ever tell America one word about the sick state of affairs
with our unsustainable consumption and greed driven economy?


What is this nonsense? Buffet has said he's leaving his money to
charity



he left his money to the bill gates foundation, now there's a worthless
parasite if ever there was one (gates, that is)




Bollocks. Just because you don't understand it ( and it *IS* bizarre),
don't throw rocks at it.

Gary Kildall was never gonna Go Large. For good or for bad, Go Large was
needed then.


gates turned the field of computer science into pseudo science and the
windows monopoly is (and always was) nothing but a huge roadblock
standing in the way of actual advancement of the computer industry. the
sooner that worthless monopoly is broken the sooner the real computer
revolution can take place and that will be the driver of a stock market
rally that makes the industrial revolution look like a small blip on the
historical stock chart.
Les Cargill
Posted: Tue Oct 07, 2008 7:25 am
Guest
Mike wrote:
Quote:
On Mon, 06 Oct 2008 18:19:43 -0400, Les Cargill wrote:

Mike wrote:

On Mon, 06 Oct 2008 12:18:03 -0700, retrogrouch wrote:


On Mon, 6 Oct 2008 11:59:20 -0700 (PDT), V <vfr44@aol.com> wrote:


On Oct 2, 11:33?am, Jerry Kraus <jkraus_1...@yahoo.com> wrote:

http://biz.yahoo.com/ap/081002/buffett_economy.html

Aw, c'mon Warren. ?Don't you have enough money? ?Do you really have
to tax the Hell out of the American people just to prop up your
multi- billion dollar empire? ?Go screw yourself, Warren. ?You are
protecting no one but yourself.

Warren Buffet is whining about the "financial crisis" which is
affecting no one but himself and his rich buddies. ?The majority of
Americans are so poor now that they no longer have anything to lose,
and Warren knows it. ?So, he is whining to the government. ?"Give me
money!! ?Give me money!! ?I want my money!!"

Sorry, Warren. ?You lose your money through inflation, or the markets
collapse, or both. ?You have destroyed the American economy through
your greed and stupidity. ?Live with it, Warren. ?You earned it.



Well spoken post Jerry.

Buffet wants his stocks to keep going up. So of course he is for
supporting Wall Street at the expense of the financial reamout of the
taxpayer.

Buffet says his kids will have a better life than he and their kids
will have a better life their parents and on and on in perpetuity.

Maybe that is for a billionaire but not for the average Joe or Jane.

Have you ever known a rich man eagerly take losses in their
investments to help out the taxpayer from being further buried in
debt?

Did Buffet ever tell America one word about the sick state of affairs
with our unsustainable consumption and greed driven economy?

What is this nonsense? Buffet has said he's leaving his money to
charity


he left his money to the bill gates foundation, now there's a worthless
parasite if ever there was one (gates, that is)




Bollocks. Just because you don't understand it ( and it *IS* bizarre),
don't throw rocks at it.

Gary Kildall was never gonna Go Large. For good or for bad, Go Large was
needed then.


gates turned the field of computer science into pseudo science

No, it's still there... mostly unchanged since the '50s. It's
descended into Mandarinism all on its own.

CS never paid the slightest attention to its own economics, and
has rendered itself irrelevant. That, coupled with "headcount"
based organizational psychology have undermined it.

Quote:
and the
windows monopoly is (and always was) nothing but a huge roadblock
standing in the way of actual advancement of the computer industry.

Windows is at worst a digression. This is like saying "Edison didn't
understand A/C, so he made no contribution to the science
of electricity."

You wanna blame somebody? Scott McNeely had tabula rasa with Java,
and they completely punted it, trying to go head to head with
Gates. 1.0 Java was *good*; 2.0 was a disaster.

Or worse yet - let's set the price of software at "free" and see where
that gets you.

Quote:
the
sooner that worthless monopoly is broken the sooner the real computer
revolution can take place

It's already happened. Microprocessors are everywhere, in every*thing*.

Quote:
and that will be the driver of a stock market
rally that makes the industrial revolution look like a small blip on the
historical stock chart.



Don't hold your breath. Any Singularity style event will create
unemployment. And that will be the end of that. Because the
"algorithm" humans use for reshuffling the economic deck is
called "war", and we have far, far too much good weaponry
this time.

--
Les Cargill
Mike
Posted: Tue Oct 07, 2008 8:49 am
Guest
On Mon, 06 Oct 2008 23:25:49 -0400, Les Cargill wrote:

Quote:
Windows is at worst a digression. This is like saying "Edison didn't
understand A/C, so he made no contribution to the science of
electricity."



no, it's like saying if gates had been around when radio & tv were first
invented his contribution would have been to monopolize the methods of
transmission such that only by buying a license to use a microsoft
demodulator in your tv or radio would you be able to receive broadcasts.
but that was back in the days when scientific advancements were put to
use for the public good before corporations started hijacking the process
to line their own pockets.



Quote:
Or worse yet - let's set the price of software at "free" and see where
that gets you.


charging for software is like charging for math equations in a text
book. what the software industry has devolved into is a taxing authority
by monopolizing commodity applications. if the industry ever got to the
point where there was real competition there would be no need to charge
for software because all the producers would be focused on adding value
as opposed to lock in. with the value-add model the paycheck comes from
service & support, actually helping people be more productive, as opposed
to monopolistic coercion.
 
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