GET THE STOCKS!
The Market Ticker ® - Commentary on The Capital Markets
Posted 2008-11-14 14:13
by Karl Denninger
Ignore this thread
GET THE STOCKS!
 

Not the kind you buy on an exchange.

The kind you put in the public square.

This morning on CSPAN I watched Kashkari be asked repeatedly (under oath) whether or not there was an active person or group inside Treasury who was working on alternative plans to buying "distressed mortgage assets" prior to the plan's passage.

Kashkari never directly answered the question.

It was the most important question of the morning, because if that plan was in place before the bill was passed then what was represented to Congress by Paulson, Bernanke (and now we learn Cheney was in those meetings too) was less than truthful.

Paulson just skewered himself and Treasury on CNBC - he said that "by the time the bailout was passed buying distressed assets was no longer viable." (approx: 1:00 PM CT)

But Paulson did not come to Congress and tell them he inteneded to rip out entire portions of the bill and substitute other intentions before the bill was passed - even though he just said on national television that he knew that his original claimed strategy was not viable before the passage of the bill.

Congress, there's your answer to whether or not you were lied to.

We are left with one and only one question: are you going to act on this and protect the American people or not?

Discussion below (registration required to post)
 

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Themortgagedude
Posts: 8894
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Green
saint louis
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And I want to see the collateral at the FED. Open the books mother****ers!


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I'm already visualizing you with duct tape over your mouth.
Dirtysouth
Posts: 2766
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Love Truth Honour ॐ
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Kash'n'Kari is a chump, just like the black dude said.

Quote:
and now we learn Cheney was in those meetings too


Think like a criminal... what do these ****ers have up their sleeve smiley

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Forest First...Trees Second
Feb 9 ~ Mar 11 ~ Apr 09 ~ May 09 ~ Jun 07 ~ Jul 07 ~ Jul 22 ~ Aug 06 ~ Sep 04 ~ Oct 04 ~ Nov 02 ~ Dec 02 ~ Dec 31

Clock
Posts: 978
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Strange Taxes Coming After November 2010 Elections
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Quote:
Kashkari never directly answered the question.

It was the most important question of the morning, because if that plan was in place before the bill was passed then what was represented to Congress by Paulson, Bernanke (and now we learn Cheney was in those meetings too) was less than truthful...

CHENEY??? Mr. Evil???
Who'd a guessed it?

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...lots of money still on the sidelines ~ CNBC mantra ~


Genesis
Posts: 131463
Incept: 2007-06-26
Admin A True American Patriot!
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Call Kucinich's office and get on the other Congressfolk that were in there too. I'm faxing again :)

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Dirtysouth
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Anyone have any links to the hearing?

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Genesis
Posts: 131463
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Admin A True American Patriot!
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CSPAN will have it up later.

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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
Dirtysouth
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I don't get it.

These folks are called out on their lies, and yet nothing happens. Why are we bothering with this **** still?

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Forest First...Trees Second
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Lemonaid
Posts: 9921
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Hey Karl... I think you caused a mini rally in the market. smiley

Everyone from the Tickerforum pounding on the ASK buttons at once. "Get the Stocks!... oh ****... which ones? what does it matter... buy buy buy!"

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"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises

Bozonian
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Quote:
CHENEY??? Mr. Evil???


Vice President Evil! I did not become the Vice President to be called "Mr. Evil".

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The most expensive thing you can have is a closed mind. -- Geoffrey Filburt

Everything I write is my opinion and not to be considered proven fact. Nothing I write should be considered financial advice.
Lemonaid
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I'm beginning to think all things Evil have somewhere, somehow, Dick Cheney's hands in them.

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"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved." Ludwig von Mises
Musicmax
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"I don't think it's a good use of taxpayer money to put taxpayer capital into a financial institution that is going to fail," Mr. Kashkari said.

Mr. Kucinich fired back to Mr. Kashkari, "That statement that you just made you will hear about for the rest of your career."
Musicmax
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Here are the subcommittee members:

Majority

Dennis J. Kucinich, Chairman
Elijah E. Cummings
Diane E. Watson
Christopher S. Murphy
Danny K. Davis
John F. Tierney
Brian Higgins
Bruce L. Braley

Minority

Darrell E. Issa, Ranking Member
Dan Burton
Christopher Shays
John L. Mica
Mark E. Souder
Chris Cannon
Brian Bilbray
Cutemloose
Posts: 701
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Green
Southern England
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Wouldn't it be great if the Icelandics put their pigmen in the stocks?

Can you imagine Paulsons wide eyed stare, then a sudden frown as he considers the implications?

We would all see a massive change in their behaviour from that moment on.

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Disclosure: I am of the Austrian school, of Rothbardian persuasion. I believe in minimal government. Spent 5 years and possibly $1million to see if business can be run on this basis (leaderless). Good news for me is that it can, and profitably, bad news is that it only works with responsible people.
Dirtysouth
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Thanks musicmax!

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Berkleyreindeer
Posts: 665
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Minneapolis , MN
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paulson is such a piece of ****. the banks are short of capital? news flash on that one.
here's a solution for this clown. set a quarterly dividend limit of $.01 per common share. any company receiving federal funds must abide by this limit or face a 100% tax on the amount overpaid. same goes for the people receiving the dividend...it is taxable at a 100% rate above 1 cent per share per quarter.
watch wall street freak out...and then solve their problems quickly, without taxpayer money

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It'll get worse. Just wait.
Berkleyreindeer
Posts: 665
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Minneapolis , MN
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can someone on the ticker community hire a troup of clowns to protect outside treasury with signs that read "I can do better"? it's a ong drive from MN, but I'll donate.

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It'll get worse. Just wait.
Madman
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did you guys catch this - Kashkari: I don’t think it's a good use of taxpayer money to put taxpayer capital into an institution that's going to fail-

Kucinich: Boy y'know, that statement you just made, you will hear about for the rest of your career. --- I think Kucinich has a plan... he was very un nice today! I think congress is going to bitch slap these guys pretty soon, giving Kashkari and Paulson lots of rope by which they will soon be hung!

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Corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed. -- Abraham Lincoln..
Bluebird
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Video:
Kucinich: You're going to be hearing that statement for rest your career!
http://www.youtube.com/watch?v=I4WWs8Twe....


Edit: I sure hope they have a plan and execute it soon.

Reason: add sentence
Macnmec
Posts: 10
Incept: 2008-10-13

Ny
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Brian Higgins is my congressman.Yes my district voted him in again GRRRRRRRRR. Anyways,he has heard plenty from me in the past 2 months. Funny thing is,he only responded back once.I'm thinking it's time to let him know that I'm still thinking about him hehehe.Thanks for the great ticker yet again Karl.
Jazumah
Posts: 208
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New York
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Wasn't someone looking for the big kaboom? Marvin? :)

I think we heard a major kaboom today. I guess now that everyone is safely in their election seats, they could be enticed to do the righ thing.
Garyk
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Congressional hearings are a joke. As near as I can tell, they have neither the the authority nor the ability to compel a witness to give a direct answer to a question as asked. Since each questioner is limited to 5 or 10 minutes, and they can't help themselves from talking for more than half of their allotted time, any person called to testify who is even moderately skillful can run out the clock without giving any pertinent details. They also have a bad habit of not allowing the witness to complete an answer if they don't like the way it is going. IMO, these hearings are a waste of time, a circus sideshow, a game of gotcha.

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Fortune
Posts: 1542
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A deep dark place...scary
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Paulson, Kashkari and rest are done... you could see the whole sentiment switch against them today. Kucinich was right. Like a bad burrito it's going to haunt throughout the rest of their careers, whatever that turns out to be.

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It's a toss up.
It is the Rule of Law that transforms assets into money: Martin Armstrong
Math IS: Karl Denninger
Eb
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http://www.moneyandmarkets.com/the-g-20s....

Thoughts on this conspiracy theory Genesis?
Bradmwalker
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Idaho
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This ticker needs Youtube clips (with some context, not just soundbites).
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