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Geithner Explains Bank Rescue Plan.... - 2/10/2009 9:23:03 AM

ThatDamnedPanda

Posts: 6060
Joined: 1/26/2009
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...and the Dow promptly plunges 300 points before he's even finished talking. I'm still reading the text, but from where I sit, the "new" plan is pretty short on new ideas, and even shorter on details for how the relatively few new ideas are supposed to work. And to me, the most ominous thing about it is that as I listened to him speak, the unspoken message that came through the most clearly was that this is a man who doesn't really believe his own plan is going to work. I had 5 stocks on my watchlist over the last few weeks, waiting for the right opportunity to get rid of them; I dumped 4 of them during Friday's rally, and the 5th I sold while Geithner was speaking.

I've cleaned out half my portfolio the last week, and me and my cash are going to watch this from the sidelines for a while. Good fucking luck, America.

< Message edited by ThatDamnedPanda -- 2/10/2009 9:24:20 AM >

_____________________________

Panda, panda, burning bright
In the forest of the night
What immortal hand or eye
Made you all black and white and roly-poly like that?

Post #: 1

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 9:36:51 AM

Mercnbeth

Posts: 11766
Status: offline

quote:

I've cleaned out half my portfolio the last week

Panda,
"Half"? That's the most positive position I've heard from anyone still in the market since August!

I'm heading to Vegas on Thursday using the money I didn't loss when I didn't follow my broker's advise and buy the week of the inaugural. Good thing that last week I joined into a little investment group and put a couple of dollars into a group who will be buying short every time President Obama speaks. Down 297 so far today! Thanks Mr. President and your tax evading appointment, Mr Geither! I think this will fund our planned May trip to Italy.

Take the other half and get some gold. It will be $1000 by Monday and $2000 by year end.

As I said to you Saturday afternoon - Spend it before the government comes and takes it!

It was great meeting you - Have fun on the rest of your trip!

(in reply to ThatDamnedPanda)

Post #: 2

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 9:40:15 AM

Owner59

Posts: 17033
Joined: 3/14/2006
From: Dirty Jersey
Status: offline

Have fun Merc.Safe trip.

Don`t trip over the homeless on your way.

_____________________________

"As for our common defense, we reject as false the choice between our safety and our ideals"

President Obama

(in reply to Mercnbeth)

Post #: 3

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 10:05:04 AM

Mercnbeth

Posts: 11766
Status: offline

quote:

ORIGINAL: Owner59
Have fun Merc.Safe trip.
Don`t trip over the homeless on your way.

THANKS!

Still not answering questions or addressing any issues I see - good idea! Follow the leader huh? You are truly indoctrinated.

Surprised however, that you are now anticipating that the President's policies will generate more homeless, enough to "trip over" by May! You think it will happen that fast too? I agree with you, but didn't expect you to give up so soon. That's a very defeatist attitude!

(in reply to Owner59)

Post #: 4

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 10:26:11 AM

UncleNasty

Posts: 1108
Joined: 3/20/2004
Status: offline

He should never have been appointed. Period. His involvement in the previous disbursement of TARP funds really should have been given more weight and import.

How surprised can we possibly be when the same players in the game keep handing us the same results?

Right now I'm thinking about the oft spoken phrase at SuperBowl parties, "Geeze, I could drop touchdown passes for $7,500,000 a year just as good as he can."

Uncle Nasty

(in reply to Mercnbeth)

Post #: 5

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 10:31:23 AM

ArizonaSunSwitch

Posts: 205
Joined: 11/14/2005
Status: offline

quote:

ORIGINAL: UncleNasty

He should never have been appointed. Period. His involvement in the previous disbursement of TARP funds really should have been given more weight and import.

How surprised can we possibly be when the same players in the game keep handing us the same results?

Right now I'm thinking about the oft spoken phrase at SuperBowl parties, "Geeze, I could drop touchdown passes for $7,500,000 a year just as good as he can."

Uncle Nasty

I particularly loved the arrogance of having Christopher Dodd provide part of the announcement.

(in reply to UncleNasty)

Post #: 6

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 10:34:31 AM

domiguy

Posts: 12952
Joined: 5/2/2006
Status: offline

quote:

ORIGINAL: ThatDamnedPanda

...and the Dow promptly plunges 300 points before he's even finished talking. I'm still reading the text, but from where I sit, the "new" plan is pretty short on new ideas, and even shorter on details for how the relatively few new ideas are supposed to work. And to me, the most ominous thing about it is that as I listened to him speak, the unspoken message that came through the most clearly was that this is a man who doesn't really believe his own plan is going to work. I had 5 stocks on my watchlist over the last few weeks, waiting for the right opportunity to get rid of them; I dumped 4 of them during Friday's rally, and the 5th I sold while Geithner was speaking.

I've cleaned out half my portfolio the last week, and me and my cash are going to watch this from the sidelines for a while. Good fucking luck, America.

Too bad that you didn't dump your stocks while George was telling you that there was nothing wrong. All you have accomplished is turning a paper loss into reality. I can't imagine dumping stocks at this point when the S&P is down well over 30% for the year.

I actually doubt you did anything that you proclaim in your post. If you in fact acted in the exact manner that you stated, please don't look for a career in the fabulous word of financial planning. You are a disaster. No participating in the rally for you. You will sit on the sidelines and pass up buying opportunities and jump back in once the recovery has taken place so that you can once again participate head on for any corrections.

Have you considered CD's or money markets? These are instruments you would enjoy.

_____________________________

(in reply to ThatDamnedPanda)

Post #: 7

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 10:42:48 AM

ArizonaSunSwitch

Posts: 205
Joined: 11/14/2005
Status: offline

quote:

ORIGINAL: domiguy

quote:

ORIGINAL: ThatDamnedPanda

...and the Dow promptly plunges 300 points before he's even finished talking. I'm still reading the text, but from where I sit, the "new" plan is pretty short on new ideas, and even shorter on details for how the relatively few new ideas are supposed to work. And to me, the most ominous thing about it is that as I listened to him speak, the unspoken message that came through the most clearly was that this is a man who doesn't really believe his own plan is going to work. I had 5 stocks on my watchlist over the last few weeks, waiting for the right opportunity to get rid of them; I dumped 4 of them during Friday's rally, and the 5th I sold while Geithner was speaking.

I've cleaned out half my portfolio the last week, and me and my cash are going to watch this from the sidelines for a while. Good fucking luck, America.

Too bad that you didn't dump your stocks while George was telling you that there was nothing wrong. All you have accomplished is turning a paper loss into reality. I can't imagine dumping stocks at this point when the S&P is down well over 30% for the year.

I actually doubt you did anything that you proclaim in your post. If you in fact acted in the exact manner that you stated, please don't look for a career in the fabulous word of financial planning. You are a disaster. No participating in the rally for you. You will sit on the sidelines and pass up buying opportunities and jump back in once the recovery has taken place so that you can once again participate head on for any corrections.

Have you considered CD's or money markets? These are instruments you would enjoy.

Yes it was truly unpatriotic for him (and a whole shitload of others) to sell his stocks while fatherly leader was making his pronouncements. Poor poor Obama, already being victimised by the free market, something will have to be done about that.

(in reply to domiguy)

Post #: 8

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 10:49:59 AM

domiguy

Posts: 12952
Joined: 5/2/2006
Status: offline

quote:

ORIGINAL: ArizonaSunSwitch

quote:

ORIGINAL: domiguy

quote:

ORIGINAL: ThatDamnedPanda

...and the Dow promptly plunges 300 points before he's even finished talking. I'm still reading the text, but from where I sit, the "new" plan is pretty short on new ideas, and even shorter on details for how the relatively few new ideas are supposed to work. And to me, the most ominous thing about it is that as I listened to him speak, the unspoken message that came through the most clearly was that this is a man who doesn't really believe his own plan is going to work. I had 5 stocks on my watchlist over the last few weeks, waiting for the right opportunity to get rid of them; I dumped 4 of them during Friday's rally, and the 5th I sold while Geithner was speaking.

I've cleaned out half my portfolio the last week, and me and my cash are going to watch this from the sidelines for a while. Good fucking luck, America.

Too bad that you didn't dump your stocks while George was telling you that there was nothing wrong. All you have accomplished is turning a paper loss into reality. I can't imagine dumping stocks at this point when the S&P is down well over 30% for the year.

I actually doubt you did anything that you proclaim in your post. If you in fact acted in the exact manner that you stated, please don't look for a career in the fabulous word of financial planning. You are a disaster. No participating in the rally for you. You will sit on the sidelines and pass up buying opportunities and jump back in once the recovery has taken place so that you can once again participate head on for any corrections.

Have you considered CD's or money markets? These are instruments you would enjoy.

Yes it was truly unpatriotic for him (and a whole shitload of others) to sell his stocks while fatherly leader was making his pronouncements. Poor poor Obama, already being victimised by the free market, something will have to be done about that.

Obviously you didn't understand my post. You sell, you recognize the loss. What you are saying is that you believe we have not yet come close to the bottom of the fall. It is a possibility...S&P currently trading at 834. If you sell now, when do you reinvest?

So tell me Einstein, how low will it go? Just saying. It has nothing to do with patriotism ...But recognizing when to accept a loss. I'm saying the time to sell is not after you have already accepted over a thirty some percent loss. Sabe?

So..The question to you all is how low do we go? S&P is at 834...I'm buying.

_____________________________

(in reply to ArizonaSunSwitch)

Post #: 9

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:00:24 AM

ArizonaSunSwitch

Posts: 205
Joined: 11/14/2005
Status: offline

quote:

ORIGINAL: domiguy

quote:

ORIGINAL: ArizonaSunSwitch

quote:

ORIGINAL: domiguy

quote:

ORIGINAL: ThatDamnedPanda

...and the Dow promptly plunges 300 points before he's even finished talking. I'm still reading the text, but from where I sit, the "new" plan is pretty short on new ideas, and even shorter on details for how the relatively few new ideas are supposed to work. And to me, the most ominous thing about it is that as I listened to him speak, the unspoken message that came through the most clearly was that this is a man who doesn't really believe his own plan is going to work. I had 5 stocks on my watchlist over the last few weeks, waiting for the right opportunity to get rid of them; I dumped 4 of them during Friday's rally, and the 5th I sold while Geithner was speaking.

I've cleaned out half my portfolio the last week, and me and my cash are going to watch this from the sidelines for a while. Good fucking luck, America.

Too bad that you didn't dump your stocks while George was telling you that there was nothing wrong. All you have accomplished is turning a paper loss into reality. I can't imagine dumping stocks at this point when the S&P is down well over 30% for the year.

I actually doubt you did anything that you proclaim in your post. If you in fact acted in the exact manner that you stated, please don't look for a career in the fabulous word of financial planning. You are a disaster. No participating in the rally for you. You will sit on the sidelines and pass up buying opportunities and jump back in once the recovery has taken place so that you can once again participate head on for any corrections.

Have you considered CD's or money markets? These are instruments you would enjoy.

Yes it was truly unpatriotic for him (and a whole shitload of others) to sell his stocks while fatherly leader was making his pronouncements. Poor poor Obama, already being victimised by the free market, something will have to be done about that.

Obviously you didn't understand my post. You sell, you recognize the loss. What you are saying is that you believe we have not yet come close to the bottom of the fall. It is a possibility...S&P currently trading at 834. If you sell now, when do you reinvest?

So tell me Einstein, how low will it go? Just saying. It has nothing to do with patriotism ...But recognizing when to accept a loss. I'm saying the time to sell is not after you have already accepted over a thirty some percent loss. Sabe?

So..The question to you all is how low do we go? S&P is at 834...I'm buying.

Sorry i don't know how to drip sarcasm more than in my original post. As far as knowing the unknowable (knowing when any market will peak or bottom), I don't know, if i did know i'd be drinking something alcoholic, tastes like shit, but fashionable to impress the legion of nude women trying to get attention of my multi-billionaire self.

But dropping out of markets when the current government is actively trying to destroy the free market is probably a good idea.

(in reply to domiguy)

Post #: 10

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:10:19 AM

domiguy

Posts: 12952
Joined: 5/2/2006
Status: offline

quote:

ORIGINAL: ArizonaSunSwitch

Sorry i don't know how to drip sarcasm more than in my original post. As far as knowing the unknowable (knowing when any market will peak or bottom), I don't know, if i did know i'd be drinking something alcoholic, tastes like shit, but fashionable to impress the legion of nude women trying to get attention of my multi-billionaire self.

But dropping out of markets when the current government is actively trying to destroy the free market is probably a good idea.

No, what you do know is that you are accepting over a thirty percent loss by selling. That is a certainty. So you think the market is going substantially lower....You would sell, because Obama is destroying the free market. Right?

Or are you chiming in because you actually know nothing on the subject at hand but thought if there was a chance to rip on the Dem Prez then why not take your shot? That is what it sounds like to me.

_____________________________

(in reply to ArizonaSunSwitch)

Post #: 11

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:30:34 AM

ThatDamnedPanda

Posts: 6060
Joined: 1/26/2009
Status: offline

quote:

ORIGINAL: Mercnbeth

quote:

I've cleaned out half my portfolio the last week

Panda,
"Half"? That's the most positive position I've heard from anyone still in the market since August!

Well, I'm in a good position. I think we talked about this a little bit before, but last September, when the market collapsed, i know immediately what I was seeing because I'd been expecting it for months. So I did what I'd already decided to do months earlier, and sold every single stock i owned. I took a loss of over 8 grand that afternoon, which was a sickening feeling, but if I'd waited it out like the loudmouthed idiots on television (and the loudmouthed idiot here on the message board) were advising everyone to do, my losses would have totaled over $30,000 over the next several weeks. Then, I did what is often the best thing to do in a crisis - I did nothing at all. I sat and waited for clarity to emerge.

November 21st, my gut told me it was time to buy back in, and over the next few weeks, I put about 60% of my funds back into equities. Turned out to be a very fortunate guess, because in retrospect that was the bottom of that particular bear cycle. Some of my moves were bad plays, but all in all, I did well. By the end of the year, I gained back everything I'd lost in September, and was actually up several thousand dollars for the year. I still took a beating on other investments over the year, but I was up on equities. Not a lot, because I wasn't exactly starting out with Donald Trump money to begin with, but still, I closed the year with 4 green digits in the lower right hand corner of the "positions" page on my personal brokerage account.

The first few weeks of January, I started selling. I miscalculated and waited a little too long, but that's the risk you take when you try to time the market. That timing error cost me a few thousand of profit, but I'm still up overall, and I'm comfortable with that. Right now, I'm sitting on a few hundred shares of Dow and 3M that I want to move, but I bought each of them just days before they took steep dives, so I'm just waiting for the volatility to swing them up to the point where I can sell them without taking too much of a loss. No matter what I sell them for, I'll still be up overall, so I've got the luxury of being able to bide my time. And I've got a couple of other stocks that I got at such a ridiculously low price in November, I'm comfortable holding them for the long term. Every single thing in my portfolio was bought since the 21st of November, so I can afford to sit on them more easily than i might have otherwise.

quote:

ORIGINAL: Mercnbeth
Take the other half and get some gold. It will be $1000 by Monday and $2000 by year end.

As I said to you Saturday afternoon - Spend it before the government comes and takes it!

It was great meeting you - Have fun on the rest of your trip!

You too. Yeah, I'm having a terrific trip. I'm having so much fun in LA, I decided to cut out the Yosemite portion of the trip and just come straight back to LA after the Monterey side trip. I'll extend my trip to San Francisco next month by a few days and do Yosemite then, but right now, I'm enjoying LA too much. I don't know if I'll catch you guys at the Lair again while I'm here, but if i don't, I'll definitely see you again next time through, and once again I thank you both for your warm hospitality. It's been a pleasure.

_____________________________

Panda, panda, burning bright
In the forest of the night
What immortal hand or eye
Made you all black and white and roly-poly like that?

(in reply to Mercnbeth)

Post #: 12

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:36:14 AM

ThatDamnedPanda

Posts: 6060
Joined: 1/26/2009
Status: offline

quote:

ORIGINAL: domiguy

Too bad that you didn't dump your stocks while George was telling you that there was nothing wrong. All you have accomplished is turning a paper loss into reality. I can't imagine dumping stocks at this point when the S&P is down well over 30% for the year.

I actually doubt you did anything that you proclaim in your post. If you in fact acted in the exact manner that you stated, please don't look for a career in the fabulous word of financial planning. You are a disaster. No participating in the rally for you. You will sit on the sidelines and pass up buying opportunities and jump back in once the recovery has taken place so that you can once again participate head on for any corrections.

Have you considered CD's or money markets? These are instruments you would enjoy.

Does it ever embarrass you to shoot your mouth off without knowing what you're talking about, or are you so used to playing the class clown that it just doesn't bother you anymore to make an ass of yourself? I watch the same TV shows you do, champ, and at the end of the day I make my own decisions. I'm quite comfortable with the results of that process. My "disaster" has me in the middle of a 3-week vacation in Santa Monica and Malibu right now, sitting on the beach and hunting for real estate bargains. I make my share of mistakes, but that's the risk you take when you take risks in the market, and all in all I'm very happy with how I'm doing.

_____________________________

Panda, panda, burning bright
In the forest of the night
What immortal hand or eye
Made you all black and white and roly-poly like that?

(in reply to domiguy)

Post #: 13

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:39:14 AM

domiguy

Posts: 12952
Joined: 5/2/2006
Status: offline

It's fun to play on the forums and do things with your pretend money. I bought AIG right before the bailout at $1.25...sold it shortly thereafter at $4.00 bucks a share....I'm rich!

See how fun and easy this all is.

I will tell you what I did today a few months from now....I have the feeling I will once again be right. I'm fucking amazing America!!!
Show me the dated posts where you did the things that you attribute to yourself. I can smell b.s from a mile away.....B.S.

_____________________________

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Post #: 14

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:49:40 AM

domiguy

Posts: 12952
Joined: 5/2/2006
Status: offline

quote:

ORIGINAL: ThatDamnedPanda

Does it ever embarrass you to shoot your mouth off without knowing what you're talking about, or are you so used to playing the class clown that it just doesn't bother you anymore to make an ass of yourself? I watch the same TV shows you do, champ, and at the end of the day I make my own decisions. I'm quite comfortable with the results of that process. My "disaster" has me in the middle of a 3-week vacation in Santa Monica and Malibu right now, sitting on the beach and hunting for real estate bargains. I make my share of mistakes, but that's the risk you take when you take risks in the market, and all in all I'm very happy with how I'm doing.

I hope you enjoy your vacation. Don't step in any yetti doo-doo.

I doubt we watch the same tv shows, ace. You seem to dwell in the land of fiction. Not to say that you don't partake in your fair share of reality tv shows....You just strike me as the type.

I don't believe you. Pretty simple. Tell us what you are going to do right now so we have it on record....Please don't boast about past purchases made at bargain prices. Tell me the name of the stock you sold today....How about that one, Ace? Quickly now, go find the name of that stock....how about the name of the four you sold on friday and at what price you sold them? Hmmmm....getting a tad bit sticky now isn't it, ace? Come on Ace you just sold the frickin' stock...how hard is it to make up a name?...Use this one "x" USsteel.

I am a tremendous judge of character whether it is standing in front of me or in print. You are not honest. You need to loudly proclaim your successes to offset some other deficiencies. I am done with you.

< Message edited by domiguy -- 2/10/2009 11:50:41 AM >

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Post #: 15

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:50:53 AM

ThatDamnedPanda

Posts: 6060
Joined: 1/26/2009
Status: offline

quote:

ORIGINAL: domiguy

Show me the dated posts where you did the things that you attribute to yourself. I can smell b.s from a mile away.....B.S.

I've never done this before, but since I dislike you so much, I think it might be kind of fun. Tell you what - care to make a wager? Spare me the weaseling and the waffling for now; just give a yes or no answer - do you have the balls to put something of value where your mouth is? If you do, we can work out the details, but for right now, do you have the balls to take this bet - I verify what I said in this thread, and you don't post for a year. If you're right that I'm lying, I don't post for a year.

Yes or no - in principle, are you willing to take that bet? I think this would be more than worth the trouble to shut you up for a year.

_____________________________

Panda, panda, burning bright
In the forest of the night
What immortal hand or eye
Made you all black and white and roly-poly like that?

(in reply to domiguy)

Post #: 16

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 11:53:02 AM

ArizonaSunSwitch

Posts: 205
Joined: 11/14/2005
Status: offline

quote:

ORIGINAL: domiguy

quote:

ORIGINAL: ArizonaSunSwitch

Sorry i don't know how to drip sarcasm more than in my original post. As far as knowing the unknowable (knowing when any market will peak or bottom), I don't know, if i did know i'd be drinking something alcoholic, tastes like shit, but fashionable to impress the legion of nude women trying to get attention of my multi-billionaire self.

But dropping out of markets when the current government is actively trying to destroy the free market is probably a good idea.

No, what you do know is that you are accepting over a thirty percent loss by selling. That is a certainty. So you think the market is going substantially lower....You would sell, because Obama is destroying the free market. Right?

Or are you chiming in because you actually know nothing on the subject at hand but thought if there was a chance to rip on the Dem Prez then why not take your shot? That is what it sounds like to me.

I know you're not going to understand this, so i'm not quite sure why i'm bothering.

How much you've already lost in a stock has no input in a **rational** decision to sell or not.

And yes, if government is destroying the free market, you should avoid it. duh.

The market has done nothing but go significantly lower since Obama was elected and in particular whenever he happens to open his mouth. The people betting on the economy with their own money, generally understand what a few trillion in wasted spending will do to inflation rates and they understand the consequences that causes to stock prices in general.

And i'm sorry if you think my objections to a marxist president fucking with my freedom and economic security is "ripping" on him. I honestly don't have anything personal against the current President, he is only the symptom of the problem. My ire is primarily focused on my fucktwat neighbors that think their economic *wants* should be satisfied by my partial enslavement.

(in reply to domiguy)

Post #: 17

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 12:06:21 PM

domiguy

Posts: 12952
Joined: 5/2/2006
Status: offline

You don't have the ability to prove your case. You might photoshop, steal someone elses account statements, do anything to hide your dishonesty. Let me ask you one question, why post something so ridiculous if you seem to not be able to answer the question as to what stock you sold?

WHY WOULD IT HAVE BEEN SO DIFFICULT TO INCLUDE IN YOUR POST THAT I SOLD "GNW" TODAY?

People make investment mistakes all of the time. No one is perfect. You can't stand the thought of being held accountable for a decision without the ability to change that decision down the road without repercussions. It's okay to say you were not honest...A-rod just came clean you should do the same.. Take a cleansing breath and fess up...But not out here. Let's bolster ourselves up with as much crud we can muster....Someone will be dumb enough to be impressed and believe. shit, maybe there is a subbie in Malibu right now gettin' all wet at the prospect of meeting such a financial whiz.

So why not mention the stock you sold? Obviously the question is rhetorical in that it never happened.

I am truly sorry that you do not like me. I am hurt. I always thought that we could be pals one day. Sorry for upsetting you, I just call'em as as I see'em.

Go with God.

< Message edited by domiguy -- 2/10/2009 12:07:35 PM >

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Post #: 18

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 12:20:16 PM

MrRodgers

Posts: 10542
Joined: 7/30/2005
Status: offline

quote:

ORIGINAL: ArizonaSunSwitch

quote:

ORIGINAL: domiguy

quote:

ORIGINAL: ThatDamnedPanda

...and the Dow promptly plunges 300 points before he's even finished talking. I'm still reading the text, but from where I sit, the "new" plan is pretty short on new ideas, and even shorter on details for how the relatively few new ideas are supposed to work. And to me, the most ominous thing about it is that as I listened to him speak, the unspoken message that came through the most clearly was that this is a man who doesn't really believe his own plan is going to work. I had 5 stocks on my watchlist over the last few weeks, waiting for the right opportunity to get rid of them; I dumped 4 of them during Friday's rally, and the 5th I sold while Geithner was speaking.

I've cleaned out half my portfolio the last week, and me and my cash are going to watch this from the sidelines for a while. Good fucking luck, America.

Too bad that you didn't dump your stocks while George was telling you that there was nothing wrong. All you have accomplished is turning a paper loss into reality. I can't imagine dumping stocks at this point when the S&P is down well over 30% for the year.

I actually doubt you did anything that you proclaim in your post. If you in fact acted in the exact manner that you stated, please don't look for a career in the fabulous word of financial planning. You are a disaster. No participating in the rally for you. You will sit on the sidelines and pass up buying opportunities and jump back in once the recovery has taken place so that you can once again participate head on for any corrections.

Have you considered CD's or money markets? These are instruments you would enjoy.

Yes it was truly unpatriotic for him (and a whole shitload of others) to sell his stocks while fatherly leader was making his pronouncements. Poor poor Obama, already being victimised by the free market, something will have to be done about that.

What in the world does patriotism have to do with this. We've seen capitalists in the purest sense of the word...renounce their citizenship to reduce their taxes, only to come back and apply to be re-sworn. If it was up to me...they'd be swearing alright because they'd have to wait 5 years to get their citizenship back.

Furthermore as is the obvious implication in domiguys post and is well known by experienced investors is that you don't lose on a stock...until you sell it. There is no way in hell even at my not-so-advanced age...I am selling anything. Do you all not understand...we are in down market ? This is simply one of the worst times to sell. I think I'll sell my $500,000 house now for $200,000 so I can blame Obama.

People...kinkroids, get a grip. This is no depression when enployment is 90% +. Most everybody's cash is still there. Our houses are still there. Friends in business report revenue up in Jan. which will go futher up in the spring.

Why would anyone expect any more homelessness than is nornmally associated with speculative capitalism run amok ? Homelessness is one of the defning attributes of capitalism...they having speculated the prices through the roof and getting govt. to buy up there shady mortgages, but not necessarily for you.

I wonder that the market can adjust as a pres. speaks or so much because of what he said today or yesterday ? IF that is the case...maybe Bush just shoulda kept his mouth shut. "The economy is doing fine" Geo. Bush 9/08.

Still can't believe the uneducated and ill informed vitriol from these boards. Using the venality, and greed of our great captains of industry and the volitile markets he creates as bases for such insults reveals a desire to make vacuous rhetorical points rather than intelligently debate the issue at hand.

Oh BTW, what free market do you speak of ? Would somebody please point me in the direction of a free market...I don't see it. We haven't had a free market in this country in 80 years. There is a reason for that...it's my market, a capitalist's market and it is very, very profitable and even when I blow it I can turn socialist and get a handout from Wash., funded by the great capitalist taxpayers.

< Message edited by MrRodgers -- 2/10/2009 12:39:49 PM >

(in reply to ArizonaSunSwitch)

Post #: 19

RE: Geithner Explains Bank Rescue Plan.... - 2/10/2009 3:31:32 PM

ArizonaSunSwitch

Posts: 205
Joined: 11/14/2005
Status: offline

quote:

Furthermore as is the obvious implication in domiguys post and is well known by experienced investors is that you don't lose on a stock...until you sell it. There is no way in hell even at my not-so-advanced age...I am selling anything. Do you all not understand...we are in down market ? This is simply one of the worst times to sell. I think I'll sell my $500,000 house now for $200,000 so I can blame Obama.

This is the silliest thing i've ever heard. Let's say you go out and buy GM for a buck or whatever the hell it is today. When the taxpayers get tired of supporting them for 1-8-10 years and withdraw their support are you still up a dollar when GM goes out of business ? Does your broker still consider that stock a dollar worth of margin collateral ? I mean, fuck, if a loss isn't a loss until you sell it, they've got to know that eh ?

Money is more than just tax implications.

And if a loss is not a loss until you sell it, why aren't all these banks renting out these foreclosed homes instead of selling them for way less than what they're owed on them, that would certainly hurt their balance sheet less, right ?

(in reply to MrRodgers)

Post #: 20

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