Hell to the Chief

That was thanks to the "deregulation" law, the one that specified who could make power, who could sell it, when, and where they could buy it, and how much they could sell it for.

Back to the earlier subject, banks will prosper if we let the economy recover, and you can find a bank that's sound. I can't tell--the public documents they file just don't tell you what you need to know. I tried figuring out Citi's mortgage exposure in '08, and it simply wasn't disclosed. What they did publish was false on its face.

-- Cheers, James Arthur

". Instead

boss.

FDR started the SS employer contribution. It's a deliberate way to disguise how much tax you're paying--out of sight, out of mind.

I'm like you--I want to see the bill, the whole bill, and don't hide it. If you think we need to do something Mr. Politician, fine, make your case and tell us the cost. No dishonesty, please.

Putting your money in a local bank might do some good (if not for you, for someone else). In one of these big, insolvent, mortgage-bubble behemoths? No, probably not.

-- Cheers, James Arthur

It's worse than that - it's Statism vs. Liberty.

Thanks, Rich

e I

It's all speculation James. BAC went down about 4% in the last 3 days, so who knows where it will go from here. It's all a gamble, and bonds are taking a big hit while Cds are paying less than 1 percent, so there's no place to hide. Maybe we have to go outside the US to find anything reasonable. I've always liked US investments, but I'm thinking other countries might be the way to go from here. This is the worst market I have seen. Worse than than the tech bubble of the late

-Bill

Well, if you're a speculator, yes. I'm just not willing to make a big bet on a company I don't understand, in a questionable business, with, frankly, books full of lies.

That's because interest rates are going to go up.

I didn't like the sound bite where he said politicians _have to_ lie, but three cheers for Jerry if he cuts spending 25%. Maybe there's hope for California yet.

The federal government needs to do some of that. Instead they're spending more, another quarter-trillion or so in the lame-duck. If you want to know what's holding back the economy, look no further.

-- Cheers, James Arthur

Yes, but the bond buyers have to estimate higher rates in order to set today's prices. Who is to say if the buyer or the seller is right? Both the buyer and seller have to decide if it's worth staying out of the market to wait for higher yields while losing current yields. Same thing with stocks, who can say if the buyer or seller is right amongst millions of trades? I tend to subscribe to the efficient-market idea that says all current information is already factored into the price, and doing research is a waste of time.

-Bill