OT "a leap of faith"

I think its the impending adoption of strict banking capital standards recommended by the Basel Accords

All of the US banks held their portfolios up against the strict requirements and realized that much of them won't qualify. So they started looking around for some patsy to buy their bad paper.

The best patsy money can buy: The Bush administration.

Paulson claims that banks won't lend money unless they can clean up their portfolios. I think they are playing chicken with us. The number of credit card and refinance offers I get in a week continue unabated. That's loaning money, isn't it? The smart banks are busy getting better loans onto their books, and holding onto them, rather than selling them into the secondary market. The secondary market is getting pissed, what with them sitting on a pile of bad paper and now no new product coming in.

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Paul Hovnanian     mailto:Paul@Hovnanian.com
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Life is like an analogy.

Thompson is such a rude conceited ass as I've ever had to read.

PLONK

, r m t

=A0 ...Jim Thompson

I think he doesn't handle being shown up very well.

If they lock him up in one of those newer, high security prisons, will he be a peasant under glass?

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There are two kinds of people on this earth: The crazy, and the insane. The first sign of insanity is denying that you're crazy.

In a perverse way, I guess it's good of you to continually give your Master punch lines. Good boy. Sic em'.

A local banker on the radio, asked about how his bank was dealing with the problem, replied indignantly "What problem? /We/ didn't make any of /those/ loans."

Cheers, James Arthur

King Baby. >:->

Cheers! Rich

default wrote in news: snipped-for-privacy@4ax.com:

[snip]

I'm reading the first draft, haven't yet gotten the link to the version that COngress just rejected.

I'm bothered that the primary oversight committe (that's supposed to evaluate the Treasury Secretary's actions and the effects thereof) is made of 5 political appointees - nto one elected representative. And worse!, has teh Sec.ty as one fo the members. WTF...? I've heard ti suggeted that "it's to be sure he shows up for meetings", btu IMO, ther needs to be some stipualtion that he simply is *required* to attend the meetings, but has no vote or power. That's section 104 (b) .

So, althought Section 125 does set up and describe COngressional oversight, teh above bit still bothers me.

The Comptroller General has oversight (sect 116) but an audit as per part 9b0 should me more tahn just annully - IMO, at least quarterly. THe part aboutJudicial REview in Section 119 is brief; it seems OK but I need to think about it more.

There is also a provision that allows the Sec.ty to collect stocks from distressed companies that are being taken over, I have to re-find my notation

- but ther is no explanation as to how those stocks will be handled. Does teh Sec.ty keep them? DO they go towards paying off teh national debt...?

I don't know where I can get any questions answered, tho'.

mpm wrote in news:8285c707-1a8c-4152-8d0b-846cb8136689 @l42g2000hsc.googlegroups.com:

All of the cited books are on my Amazon wish list now. I don't usually have sucess with just picking books blind, but I'd say that a good 95%+ of the recommendations I've gotten in newsgroups have been eitehr very good, or excellent.

default wrote in news: snipped-for-privacy@4ax.com:

In the past, I'd several times considered trying to run for office. Then I realized that candidates are not elected ont eh basis of reasonable intelligence and education and so on - they're elected on the basis of (1) geniality and (2) how much mud they can smear all over the other candidate. I've no social sense, and I'm too focuses on information to deal with lies, so I'd be DOA.

Don Bowey wrote in news:C5054544.C54FD% snipped-for-privacy@comcast.net:

What's wrogn with being a peasant? They're the ones who do all the actual work in a society. Astiticrats (and/or aristo wannabes) can stick up their noses as much as they want, but they'd be lost without their servants/peasants to take care of them and their properties.

Yes. The very people that would do the most good are the ones that would have to be enlisted - taken kicking and screaming to serve. The ones that get elected are invariably the worst of the lot - the ones with the money and connections. And if they have connections they are probably already corrupted beyond redemption.

We need engineers in public office, not politicians. People with brains, open minds, analytical ability, without other agendas . . . not too likely is it? The career politician's first loyalty is to himself, second to his bankroll, and, a distant third, his constituency.

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Ever get the feeling the loopholes are planned and crafted? They just need something in there to abdicate responsibility when things go south.

Monthly and with some consistent and constant ongoing review by an unbiased un manipulated entity, and very serious penalties.

I really don't think they have that (real oversight) in mind. You are supposed to trust them to tell you it is OK.

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Innovative approach........ You attributed "something" to me, but did not post anything I wrote. Didn't you approve of what I said?

I had an uncle [RIP] who once ran for legislator from Blue Earth county, MN. He was so well-known and loved in the community (a little farming town), that all he had to do is say, "I'm running for state rep," and he was elected by a landslide. He wanted to clean up the legislature. Yah, right. Two years later (next election), he quit in disgust; the place was beyond repair.

Thanks, Rich

What a pile of BS! You're probably of that technician-class of clowns who think you know better than the boss. You don't!

Bwahahahahaha!

...Jim Thompson

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| James E.Thompson, P.E.                           |    mens     |
| Analog Innovations, Inc.                         |     et      |
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default wrote in news: snipped-for-privacy@4ax.com:

You mean there was any doubt? =:-o

ThHat'd be good, yeah.

I think it's part Machivellian/Rovian manipualtions such as that, and part high-percentage-of-numbskulls...with a few "trying to serve the public" types sprinkled in as window-dressing...

default wrote in news: snipped-for-privacy@4ax.com:

Heh, funy you should say that. The thing is that I'd considered it

*despite* being an Introvert and having moderate Asperger's (have learned tocope but, when younger, whoo boy...) - it's just that I'd had the delusion for a while that whatever intelligence I have could be put to use. I ended up working in the gov.t. In the end, no matter how good you are, or what you achiecve, or influence, in the end, what matters most is how well one kisses @$$. Same in politics. Poeple don't care if politicians rob them blind, so long as it's done with a big ol' smile and a friendly slap on the back.

Or inherently susceptible thereto - more social as in more intrested in stuff like social status, and also subject to social pressure.

Yup. But, as above, the majority votes for those whom are perceived as being most like them, and most "likeable". People tend to not like "brainiacs".

Sadly enough, I suspect that, in most cases, you're right.