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The Stock Room page 19 |
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(Continued from page 18)
OK fine, I realize that Obama’s desire to tax the heck out of the retired rich mainly raises taxes on people who make over $250,000. Yes, that really is a lot of dividends & interest; however, you all know that it will never work out that way. What makes me nuts is this desire by everyone in Washington to ‘reinvent the wheel’ instead of just ‘greasing the spokes’. My #StIN tax plan makes everyone happy. It taxes the WORKING ultra-rich so that they pay their fair share, it taxes the traders/traitors and speculators that keep creating our bubbles and uncertainty, and most of all it DOESN’T tax the retirees who helped to build this Nation all the while it PROMOTES GROWTH and LONG-term investment. We don’t need to tear it all down to fix it. Yes a complete overhaul needs to be done, but if we try to do it now under these horrible economic and political conditions all we will do is make a bigger mess, if we accomplish anything at all. In the 2012 elections vote for: _______________________________________ apppro’s take for 02/27/12 05:30 pm EST Bring back sanity to our markets! OK people, I’ve been saying it for almost 5 years now. Actually I’ve been saying since exactly July 16, 2007: “BRING BACK THE DARN UPTICK RULE!” Listen to the first part of this interview. It is critical to us all! HFT traders/traitors MUST GO! Leon has truly endorsed The 5 Golden Rules - #The5GoldenRules 1. Immediately, reinstate the Up-Tick Rule.
And oh, the ONLY thing I cannot agree with is when Leon gives Maria a rather self-serving congratulations on that disgraceful new NYSE floor CNBS set that has been allowed. Is everyone nuts? We truly have turned our investing markets into the TMZ of finances. _______________________________________ apppro’s take for 02/25/12 09:30 am EST The “Nation of Bash & Blame” gets billion $ payday! Let me try to get this right! Someone who just sat there and watched as improper, if not criminal activities took place… did NOTHING to stop it really, is NOW getting millions, possibly billions for that lack of effort. I quote: “Under the False Claims Act, a successful complaint can earn a whistleblower up to 25 percent of the settlement amount. In a case unveiled last week, a Citigroup Inc. employee in Missouri is set to receive $31 million of the $158 million the bank agreed to pay over claims it misled the government into insuring thousands of risky home loans.” Whistleblower accuses Countrywide of appraisal fraud | Reuters I guess we’ll never know what that Citi employee did to stop the supposed illegal activity. I guess we’ll never really know why they got a windfall payday of $31,000,000.00, and for WHAT? Sitting there… doing nothing… then tattle-telling? Again I quote from that above article: “The False Claims Act is a federal law designed to recover money taken from the government by fraud, and discourage further wrongdoing.” But does that same person have the right to just sit there while this wrong doing is happening, and then years later claim that they knew about that wrong doing… maybe wrote a couple of emails… maybe complained a few times to a few co-workers… and then years later say, “I told you so – NOW PAY ME!”? In the ‘robo-schmobo’ extortion settlement, that whistleblowhard may get close to $5,000,000,000.00 (that’s billions)! By his own admission he was working there from 2004 – 2008… OVER 4 years and before the true financial crisis began. “According to the unsealed complaint, the whistleblower, Kyle Lagow, witnessed first-hand the "corrupt underwriting and appraisal process" at the lender. Lagow worked in a Countrywide appraisal unit in Plano, Texas, from June 2004 to November 2008, according to the complaint.” Now he’s claiming that “I told you so!” and we all should give him $5 bil for that? I have to ask whether this same guy was writing those very same mortgages he is NOW saying were fraudulent? This all reminds me of something I wrote back in 2008: “How can the 1st person be allowed to build and sell something to a 2nd person, AND at the same time the 1st person be allowed to bet (by shorting mortgage bonds) that the 2nd person will go broke and not be able to pay for their home, because they were sold by the 1st person a mortgage that was known to be out of the 2nd person’s ability to eventually pay for in the 1st place.” <<apppro’s take for 03/01/2008 @9:00 am EST: I know I’m jealous and somewhat bitter over the profits and fortunes some have made from shorting stocks and when it comes down to it – shorting people’s lives. However, I see all these a**wipes and truly get sick to my stomach, and not just from envy either. What really put me over was a clip on CNBS (formally known as CNBC) about this realtor in California who made a fortune from building small cheap homes, BUT at the same time made ½ billion dollars from shorting the subprime loans that people were using to buy HIS crap! Does anyone else see something wrong with that!!!!!!!!! How can the 1st person be allowed to build and sell something to a 2nd person, AND at the same time the 1st person be allowed to bet (by shorting mortgage bonds) that the 2nd person will go broke and not be able to pay for their home, because they were sold by the 1st person a mortgage that was known to be out of the 2nd person’s ability to eventually pay for in the 1st place. That doesn’t smell right to me; and if it just doesn’t piss the hell out of you, then maybe you should take a long, hard look at your own priorities & values! To make matters worse, CNBS is giving this guy a pat on the back & world-wide recognition for coming up with this larceny. Now that’s just plain insanity!>> Whatever the case may be… what is wrong with all of us? Wasn’t the $26 billion that was extorted from the banks from ‘robo-schmobo’ supposed to go to HELPING homeowners? It’s bad enough that some States are using their share to pay down their own operating deficits (mortgage settlement being used by States to pay down deficits - Yahoo! Search Results) and not helping homeowners, BUT to GIVE 25% of it away to some jerk… well now that is just insanity personified! The “Nation of Bash & Blame!” _______________________________________ apppro’s take for 02/24/12 05:30 pm EST This is one heck of a GREAT question! Walmart Charges A Debit Card Fee, Why Can't Bank Of America? - Forbes _______________________________________ apppro’s take for 02/24/12 08:30 am EST Oil Speculation - Back to the Future? In absence of demand, oil prices' rise points to speculation - National Business - MiamiHerald.com
Pelosi Speaks the Unspoken: Wall Street Speculation to Blame for Rising Gas Prices
Wall Street Oil Speculation Driving Surge in Gas Prices | Common Dreams
What a joke we are! Yes, there is speculation and this is being driven by SHORT-term option and commodity traders/traitors. Same old story – NOTHING new here at ALL! Again, we are just pissing in the wind and eventually we all will start blaming the oil companies who are as helpless as anyone else. Sound familiar! Just like the housing speculators and the SHORT-term mortgage traders/traitors, for which we blamed the banks! Want to stop it, then TAX THE CRAP OUT OF IT! #StIN 5. Capital gains under <6 months - 55% tax on capital gains As I have said many times in the past:
“IT’S THE MENTALITY STUPID!” This SHORT-term mentality does NOT create jobs. This SHORT-term mentality does NOT create prosperity. This SHORT-term mentality does NOT build bridges. This SHORT-term mentality creates NOTHING, but uncertainty, fear, and angst. And to those that continue to rationalize this speculator behavior by saying “That we need them so as to create a fair, more liquid market place.” all I’ve got to say is “BULLSHIT!” Besides from the obvious fact that the current system has done nothing except force us to live through one bubble to another and has done nothing to stabilize prices at reasonable production levels; I am just as sure that we could figure out a reasonable tax code that would allow true commodity traders to function while stopping the speculators. That is IF we wanted to! _______________________________________ apppro’s take for 02/23/12 08:00 am EST ‘OVO-schmobo’ Boy is this “Nation of Bash & Blame” just a total disgrace. We have gone from ‘robo-schmobo’ to now ‘OVO-schmobo’! Overdraft Rules Mean Consumers Will Pay Up, or Get Out - TheStreet
What I found an utter mystery was a line from another article where there seems to be some discussion on making sure a person reads & understands the entire agreement before signing. In other words people were NOT reading the entire document before signing? HELLO! Isn’t that the same exact thing we just sued the banks for doing? So in other words EVERYONE should be extorted for money’s because of ‘ovo-schmobo’? The “Nation of Bash & Blame!” _______________________________________ apppro’s take for 02/21/12 08:00 am EST Be Careful what you wish for!
Well, guess what idiots - YOU CAUSED THIS AND THIS IS WHAT YOU WANTED AND YOU GOT WHAT YOU ASKED FOR!! Sure it was hard enough to talk to just 1 person at a bank to do almost anything - BUT IS IT ANY BETTER AT WALMART OR TARGET OR THE DMV OR THE COLLEGE PAYMENT OFFICE? NO!!!!!!!!!!!!! Nowhere on this planet can you get 1 on 1 personal service - there just is NO WAY to pay for that. NOW since you have bashed and blamed the banks for every ill of the entire human race, and then FORCED & EXTORTED them to make cuts and fire (In BoA's case 30,000.) people so to pay for inane ‘robo-schombo’ stupidity, and as to stop short-sellers from driving them into complete oblivion; so NOW even after all of this, some are asking why the banks aren’t pissing away even more money for 1 on 1 mortgage service! In the "Nation of Bash & Blame!" be very careful what you wish for! _______________________________________ apppro’s take for 02/18/12 @10:00 am EST Banks, Bailouts, and Now the Foreclosure Settlement!
We all have been flooded with opinion after opinion on the $26 BILLION ‘robo-schombo’ settlement and what it will mean. Whatever you may feel will be the benefits or harm, all I’ve got to say is: “I TOLD YOU SO!” apppro’s take for 09/30/2008 @6:30 pm EST: A couple of people asked me what I thought about the ‘Rescue Plan’ and what might happen. OK, why they asked me is a mystery in of itself, but I’ll give it a shot. Firstly, we must agree on why all this happened. Yes, the shorts did it thru their systematic destruction of the CDO/mortgage markets which lead to the downfall of the financials, but now that’s not really the main issue any more. Now we must go back to school and retake Psych. 101. Actually we’ll have to take Advanced Psychology, because what’s happened here is so very complex. It all comes back to confidence and fear. Do you remember the water-boarding blog of the banks? In short, beat someone over the head over and over, and they will break. Once broken, the victim will take a very long time, if ever, to gain back the level of confidence needed to resume normal behavior. The banks were tortured into submission by short sellers and rating agencies over the CDO’s that those Me’er shorts had convinced everyone were worthless, which now have become by some miracle to be just worth less. Give me a break! Everyone now blames the ‘Fat Cat’ CEO’s of the banks for causing all of this, when in reality they deserve the Congressional Medal of Honor for the torture they’ve gone thru for their Company & Country. How can we expect the banks that have been so tortured, abused, punished, and in many cases destroyed to now so willingly say: “Oh, thanks for this money – here, I don’t really need it.. take it.. please!” I wouldn’t! You wouldn’t! Nobody would! When they get this money from the bailout they’ll squirrel it away out of fear that the shorts and ratings agencies will come after them again. And do you blame them? Just Monday, the day of the vote, some anal_ysts were still calling for some big banks to fail. We can fix this, but it will take a comprehensive approach of: 1. Reinstating the Up-tick rule, 2. Cracking down on naked shorting, 3. Instituting some rules on what should be said on National TV, 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales retroactive to 01/01/08. 5. Aid to the banks during the transition back to normality, 6. Refinance the monoline insurers with funds, so that roads can get built.. schools can be funded.. bridges will be repaired.. Etc. 7. Give money to municipalities to build.. build.. build. 8. Hold oil under $100.00 while building a natural gas infrastructure for autos. Drill.. Drill.. Drill. 9. Put back rules and regulations on short selling that have been around since the 1930’s. 10. Eliminate 'mark to market', and 11. Have the rating agencies come up with ONE set of rules and stick to them. 12. Increase the FDIC insurance for banks to give people confidence that their money is safe. 13. Set up a separate fund to lend directly to people and companies with urgent requirements, so things will get bought at the retail level - NOW and not 12 months down the road. 14. Time to heal with some reasonable behavior by market participants during this process. It’s not going to happen overnight. Just to name a few. We need to feed the need and stop the bleeding. Just to place a tourniquet on the leg doesn’t prevent the gangrene from setting in. Unfortunately there are still far too many jerks out there that are betting on us all loosing our shirts.
Oh, and #15 – STOP BLAMING THE DAMN CEO’S!! THEY DESERVE A MEDAL FOR DEALING WITH THIS BULL!%?!. This wasn’t their fault! _______________________________________ apppro’s take for 02/13/12 @06:00 pm EST (Continued on page 20) |
