The Unthinkable Happens

[cute fuzzy bunny]

Hey, I give credit where credits due. He's been whizzing on AIG for years and I'd been thinking they were an okay company and figuring vanguard wouldnt be doing business with them if they werent pretty solid.

I guess that lets the air out of quite a few theories...

If it makes you feel any better, I'll give him some more hard times the next time he tosses out a stock pick that drops 50% a month or two later.

 

[FinanceDude]

If it makes you feel any better, I'll give him some more hard times the next time he tosses out a stock pick that drops 50% a month or two later.

 

[boont]

That's Never Going To Happen

"I do not understand how we got into this situation," said New Jersey Gov. Jon Corzine, a former chief executive of Goldman Sachs.

"You could have asked me two years ago, five years ago, would you ever see a day like this?," he told CNBC. "And I think, not just me, but most people would say: 'That's never going to happen.'"

"The core problem that we have is the economy," he said."There are two things here that are very disturbing and not addressed. One, there is no major infusion of new capital into the system. We are doing more financial engineering to solve problems. Second of all, and much more important, is the fundamental economy is in very bad shape and the problems are growing."

 

[Notmuchlonger]

Well on one hand Im down 15% or so. Then on the other hand Im really glad I don't own any individual financial stocks. Guess thats one boon to index investing Ill leave the individual stock picking. to the pro's.

 

[ladelfina]

"I do not understand how we got into this situation,"

That GS people "don't understand" seems like part of the problem right there...
The esteemed Mr. Paulson, another GS-er and quite a rich one.

Whocouldaknowd?


Found this good clip of the Charlie Rose show:
A discussion about the takeover of Fanny Mae and Freddie Mac - Charlie Rose
Roubini and El-Erian know what is going on. (The two NYTers are just sort of padding to tone down the "wonk" factor; they don't add anything.)
Roubini has been talking about this for years. I started reading him to the extent I could (for free) many months ago (and got accused of an unhealthy affection for a certain base metal ). Nouriel is the man to watch.