Post Tagged with: "quote of the day"
Nationalized banking predators
As with everything else, the bailout of the U.S. banking system is going to have unintended consequences. One of them seems to be giving exactly those firms that wasted billions of shareholder money a chance to double down. Flush with government money, these busted financial companies may just go on a shopping spree sponsored by
Quote of the day: Financial Armageddon
Reflecting on the market turmoil today, Marshall Auerback had a funny if ironic thought: Our beloved Treasury Secretary promised us Financial Armageddon if we didn’t pass his wretched bill a few weeks ago. I wonder how he would describe this? Beloved is one way to describe Hank Paulson
Jamie Dimon: “If You Are Not Fearful, You Are Crazy”
I love Jamie Dimon, JPMorgan Chase’s CEO. He really tells it like it is. At last quarter’s earnings call, he called a spade a spade and said “prime looks terrible” in reference to prime mortgage loans. This quarter his quote is even more to the point: “If You Are Not Fearful, You Are Crazy.” -Deal
Quote of the day: John McCain
Talking about how he will fare against Barack Obama in the upcoming third and last U.S. Presidential Debate, John McCain said: “We’re going to spend a lot of time and after I whip his you-know-what in this debate, we’re going to be going out 24/7.-Huffington Post
Quote of the day: Michael Douglas as Gordon Gekko
Ben Bernanke and Alan Greenspan have been the worst monetary stewards in U.S. Federal Reserve history. A former Fed Chairman William McChesney Martin Jr. once said it was the Fed’s job “to take away the punch bowl just as the party gets going.” Alan Greenspan and Ben Bernanke, with their easy money polices, failed to
Jeremy Grantham: “Keep telling yourself… you’re a long-term investor”
Jeremy Grantham has seen this crash coming for quite some time. Nevertheless, he is not selling everything and waiting out the market in Kruggerrands and cash. has kept a good long-term perspective about investing that bears repeating here. Keep telling yourself every night that you’re a long-term investor and don’t look at daily stock prices.
Quote of the day: Gordon Gekko – greed is good
With blood on the street and one flagging financial institution after another gasping for dear life, a quote from the Movie “Wall Street” bears remembering: In the last seven deals that I’ve been involved with, there were 2.5 million stockholders who have made a pretax profit of 12 billion dollars. Thank you. I am not
Quote of the day: Gordon Brown, get your bazooka
Today, David Wighton over at the Times Online referenced U.S. Treasury Secretary Hank Paulson’s quip that the U.S. Government had a bazooka ready to us in the case of the Frannie and Freddie Nightmare on Wall Street in saying: Helping to stabilise the U.S. housing market should bring some benefit to British counterparts. It will
Quote of the day: 3 Sep 2008 – Joe Lieberman
Obama mentor Joe Lieberman is going all out for Obama’s opponent in order to defeat Obama. Why, you ask, when he made quotes like this one in 2006 (via Political Wire): “The gifts that God has given to Barack Obama are as enormous as his future is unlimited. As his mentor, as his colleague, as
Don’t think, react
I have a friend who is a very unusual and cosmopolitan blend. Satoshi is a Japanese guy who grew up in the deep south in New Orleans who I met when we worked together at a German bank in the high yield market in London ten years ago. He has this expression he always used
Quote of the day: China hopping mad about GSEs
At the end of last week, the warning came. The Chinese officially warned Hank Paulson et al. that they better get their act together on Fannie and Freddie. The Chinese own a ton of GSE paper and they would be hopping mad to see their investments lose value. The implicit threat is that the Chinese
Quote of the day: trickier than LTCM
On Friday, Bloomberg quoted a former LTCM partner as saying the $1.9 trillion hedge fund industry faces “much worse” conditions than in 1998, when Long-Term Capital Management LP collapsed. “It’s definitely a trickier environment. The market is much worse that it was in 1998. Then it was just LTCM, but this impacts everybody.” -Hans Hufschmid,