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The Stock Room page 65
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(Continued from page 64) In a million years I never thought I would agree with, yet alone demand that everyone listen to Meredith Whitney; but today she finally got religion. For over 2 years I screamed that bashing and restricting our banks would not end well for ALL of us and well, look where we are now. All during that same period, perverted short seller pundits like Meredith Whitney were also screaming for the demise of our banks, and of our entire system as a whole. Well, today she finally saw the light and realized that ONLY with a healthy and vibrant banking system can small business and our Nation’s economic health ever recover. Finally today she called on those morons in Washington to STOP their stupidity and STOP the insane financial reform garbage that they are contemplating. Maybe they’ll listen to this bioch; they certainly didn’t listen to me! It’s just too bad that people like this didn’t hear the calling 2 years ago. What a waste! _______________________________________ apppro’s take for 05/09/2010 @12:00 pm EST:
Want to blame a computer glitch? Just an excuse! Want to blame an errant trader in Chicago? Just an excuse! Want to blame Greece? Just an excuse! Want to blame our banks? Just a ridiculous excuse! Want to blame the elusive Russian mob hacking into the internet at a Starbucks in Minsk? Just another excuse, and don’t think otherwise. I really don't care anymore who you think you should blame or who you think is the cause! Whatever you think you think… you’ll be just plain wrong! For what happened this past week should have been everyone’s final and ultimate wakeup call to what should hopefully be the end to the short term mentality of... "The Trader/Traitor Decade"! Wishful thinking… I know! Over the past decade and especially over the past 3 years, almost to coincide with the onslaught of our collective crisis, we have been force fed by a few pundits, traders/traitors, and media stations (CNBS) that we no longer have an 'investors' market, but rather a 'traders market’. These so-called experts have crammed down our throats their horrid logic that long term investing cannot exist and we must all “trade the market”. I am not talking about day-trading circa the 1998>2001 era, but rather the large scale commercial consumption of buying and selling assorted financial instruments on a short-term only basis for the sole purpose of 'making a living' and not in its' intended purpose of nation/prosperity building. What happened this past Thursday can no longer be ignored. Sure it appears that SkyNet took control for a brief moment, but if some short-sighted, greedy, narcissistic human being had not programmed the short-term mentality logarithms into SkyNet's memory banks then last Thursday’s 1000 point drop in 15 minutes would not have happened. WE have allowed a few short-term traders/traitors to cause this mess; there just can no longer be any doubt! We now need to change this way of thinking. We need to change our collective view of our financial world. We need to get back to building and investing. We MUST eliminate “trade the market” from our nomenclature and go back to what our financial markets were intended to provide: Growth and Stability! To the point: Please understand that I have my roots in the 1960’s, but I am still a ‘Capitalistic Pig’ thru and thru. (A little bipolar I guess! Anyone got any Cymbalta?) However, until we accept and embrace the underlying principles of “Stop the Insanity Now” & “The 4 Golden Rules”, and until we all see that the “Good of the many DOES outweigh the good of the few, or the one!”… until then, we ALL may be doomed. STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains under <6 months - 55% tax on capital gains 2. Capital gains 6 > 12 months - 45% tax on capital gains 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 2 > 5 years - 18% tax on capital gains 5. Capital gains 5+ years - 5% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund. The 4 Golden Rules 1. Immediately, reinstate the Up-Tick Rule. 2. Crack down on naked short selling. Require stock certificate #'s when a short sale needs to be covered, including ETF’s. 3. Institute some rules on how the media ’reports’ news in order to prevent rumor-boarding. Not censorship… just sensibility & responsibility. 4. Pass a Wind-Fall Capital Gains Tax of 65% on ALL short sales!
BTW: I told you I was going away for 2 weeks and to make sure the market didn’t tank. Great job guys! _______________________________________ narrator’s take for 05/07/2010 @5:00 pm EST: narrator’s website: SiriusNews.com
1. Goldman Sachs (GS) hires Russian Computer programmer May 2007 Sergia Aleynikov 2. GS lobbies and gets the uptick Rule Abolished July 2007. 3. Frenzy of corruption starts with Naked Short Selling, flash trading, secret codes, secret software, secret meetings and computers. 4. FY 2008 Goldman Sachs makes OVER $100 million a day trading 90 day out of 260 trading days in 2008. 5. June 2008. Goldman Sachs board of Directors secretly meet Hank Paulson in Moscow in June 2008. 6. The game plan goes into motion to take out Lehman Brothers and Bear Sterns designed in Russia. 7. Sept 2008 The take out of Goldman Sachs's competition Lehman and Bears 8. Government (Hank Paulson steps in and protects Goldman Sachs as discussed 3 months earlier in Moscow 9. No naked shorting of Goldman Sachs and the other top 19 banks Sept /Oct 2008 Thank Hank 10. Goldman becomes a bank to be allowed to get access to 10 Billion dollars from Tarp Money. Thank You Hank. 11. FY 2009 Goldman Sachs makes OVER $100 million dollars a day trading in 131 days out of 260 trading days in 2009 12. Goldman Sachs Russian computer programmer arrested by the FBI on an airplane in New Jersey July 3rd, 2009. He was trying to steal Goldman Sachs secret codes and software that Goldman Sachs is using to steal OVER $100 million a day off investors 13. The TV news media is silent and does not cover the arrest?????? 14. FY 2010 1st QT April 20th Goldman Sachs announces profits of $3.45 Billion dollars. How many days out of 64 trading days did Goldman Sachs make over $100 a day stealing off investors. 15. April 16th, 2010 The government/SEC brings civil charges against Goldman Sachs 16. May 5th, 2010. Goldman Sachs charged with Naked Short Selling. Goldman Sachs pays 460,000 to settle charges. They have now been on the record of stealing from investors with counterfeit shares. 17. May 6th, 2010 Stock market glitch, (investigation underway) on what caused this 1,000 point drop in the stock market with it dropping almost 700 points in a matter of minutes. Trillions stolen in this crash of computers. Investigation under way Greed is Legal Oliver Stone movie was suppose to come to Movie theatre April 23rd, 2010, somehow it was delayed until Sept 2010. Gordon Gecko to say " GREED is Legal " there is a 72 minute true life documentary out called Stock Shock - The Short Selling of the American Dream, than will explain to the World what has taken place on Wall Street since the SEC's Christopher Cox eliminated the uptick rule in July 2007. Goldman Sachs switched from housing scandal to Stock scandal upon the uptick rule being eliminated, hence their secret meetings in Moscow and the hiring of the Russian computer programmer just 2 months before the law was removed that has created this huge computer scandal on Wall Street that is bleeding hundreds of millions a day from investors. _______________________________________ apppro’s take for 04/24/2010 @8:30 am EST:
I’m going to Machu Pichu in Peru for 2 weeks to consult with the Inca Gods. Please try not to screw things up too badly while I’m away! And while I am away, maybe you should review some of my past blogs. I just found this one made just over 2 years ago! Damn am I good! Kiss… kiss! apppro’s take for 02/23/2008 @10:00 am EST: OK, now what! I pretty much told you that sooner or later the shorties would take over. They have. I never expected such volatility and rumor mongering from the changes in SEC trading rules, but it sure has occurred. I also said that once the shorties had their way with the financial sector, that they would turn their venom towards tech. They have. All three major indices are down close to one year later. Just one awful market! In my small and humble opinion, it just shouldn’t be this way. All those now 30 something’s that graduated with MBA’s in Finance during the Clinton 90’s, need to be taken out to the wood shed and shot. They created a pyramid scheme economy that no one can understand, and have caused a major downturn in economic growth worldwide. And why? Well, for their obvious short term capital gain, but why did it occur in macro is the bigger question. It occurred for a lot of technical reasons, but the main reason is: THE REST OF US ELSE CANNOT UNDERSTAND WHAT THE FRIG THEY WERE DOING, HOW THEY WERE FRIGGEN’ DOING IT, AND WHAT THE FRIGGEN’ CRAP IS ACTUALLY WORTH! We’ve all heard the expression: “That if I ran my household expenses like the Federal Government, I’d be broke!” Well, the same applies to these CDO’s, SIV’s, & all those other totally abstract financial tools. No one understands them or what they’re now worth. I for one don’t. I also got to say that all the options, derivatives, etc. people use to trade stocks are also a mess. Enough! I am NOT smarter then a 5th grader, and I want my stocks and financial markets to take that into consideration. _______________________________________ apppro’s take for 04/21/2010 @6:30 pm EST:
I’m sorry, but does no one else see it? You can blame Goldman Sachs for putting the parties in the scheme together! You can blame John Paulson for coming up with the scheme! You can blame the SEC for allowing the scheme to proceed! You can blame the ratings agencies for rating those schemes triple A! You can blame Fannie and Freddie for making !%?! loads of bad loans that fostered the scheme! You can blame the Federal Reserve for allowing the housing market to get out of control! You can blame Obama for doing all the wrong things at all the wrong times! Through Bush into that category also! You can blame a lot of people, places, and things; but none of them would be right! What and who is not the issue, but rather the why. Why did all these things happen and how do you stop it from happening again? Well, the answer is somewhat simple, sort of. The why is, “for lack of a better term… greed”, but in this case a very specific greed: The greed of SHORT-TERM THING AND INVESTING! From homes to stocks to CDO’s to mortgages to entire Nations… we have allowed the short term mentality part of greed to takeover almost everything we do. It consumes us! It controls us! I contribute it all back to the ‘Generation Me’ of which I have spoken and their narcissistic need to be right at all costs, but when it comes down to it – we’re ALL consumed by this; most less – but unfortunately, a few MORE! The cure is also somewhat simple, but it takes some conviction by us all that, “The good of the many outweighs the good of the few, or the one!” The cure is to promote investing/building/prosperity, but to deter gambling and destructive behavior. STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains under <6 months - 55% tax on capital gains 2. Capital gains 6 > 12 months - 45% tax on capital gains 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 2 > 5 years - 18% tax on capital gains 5. Capital gains 5+ years - 5% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund. _______________________________________ apppro’s take for 04/19/2010 @6:30 pm EST:
Where is the outrage? Directed in all the wrong places. Again, I ask where is all the outrage for this?
Was he smart or did he cause it? I’m for the later! What is left out is that he sold those subprime mortgaged homes and then shorted the very same mortgages. BUT the BIGGEST outrage is the deplorable reality that the media still considers these people the heroes in all of this and not the villains! _______________________________________ apppro’s take for 04/19/2010 @7:30 am EST:
The POINT that everyone really does miss in relation to this Goldman thing, is that: These kinds of investments are not investments! They are gambling bets, plain and simple! Whether he was right or wrong to bet against the housing market, John Paulson (main person in this) was gambling that others would fail. HOW THE HELL IS THAT INVESTING? It’s NOT, and should be taxed accordingly! Obama is looking to generate higher taxes… fine then let him go after the ones that caused this! STOP THE INSANITY NOW! Revised Tax Rules: 1. Capital gains under <6 months - 55% tax on capital gains 2. Capital gains 6 > 12 months - 45% tax on capital gains 3. Capital gains 1 > 2 years - 35% tax on capital gains 4. Capital gains 2 > 5 years - 18% tax on capital gains 5. Capital gains 5+ years - 5% tax on capital gains 6. Most critical of all — Institute a capital gains tax of 55% on ALL short sales not directly tied to a long buy by a licensed hedge fund. _______________________________________ narrator’s take for 04/17/2010 @5:00 pm EST: narrator’s website: SiriusNews.com
Yesterday was a great day for both of us. Hopefully it is just the beginning and I hope they uncover the other 2 big Goldman Sachs scandals: 1. Decimal place scandal using secret software 1. a Report the arrest of the Russian Computer programmer for Goldman Sachs that was arrested 2. Naked Short Selling scandal
An apppro quickie: I found little to nothing good about Friday’s news and selloff. The real culprits are still getting totally away with their larceny, and are probably laughing at all of us from their 5 acre estates in the Hamptons. _______________________________________ apppro’s take for 04/16/2010 @5:00 pm EST:
I told you so! I told you that shorts were at the basis for this entire disaster over the past 2 years. I screamed about this going all the way back to 2007. Well, today the SEC’s action against Goldman Sachs just proves my point – BUT FOR ALL THE WRONG REASONS! So what happened? Well, unless you live in a cave you must have heard that Obama had the SEC accuse Goldman Sachs of fraud. Not just they broke a few rules, but FRAUD! I’m not getting into this, but for me this was just another deplorable ploy by your president to push through his Reverend Wright agenda! The REAL culprits are still not being addressed. I wrote this on 3/1/08 in response to this video clip on CNBS . <<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.>> (Continued on page 66) |
