No way, there’s a shortage of OIL!!! IT was all Bush’s fault anyways… -sarcasm

I’ve just finish watching “Enron: The Smartest Guys In The Room”. I’m starting to think that the biggest terrorist threat to our country this decade wasn’t Al Quaida. It’s Wall Street. These greedy executives and investors have done more to damage our country the past ten years than this one sect of radical muslims.

Jed Clampett

Somebody forgot the ‘domestic’ part in ‘all enemies foreign or domestic’, huh?

They knew from Enron what these wealthy Fu@ks are capable of, yet they allowed them free reign to do whatever they wanted, as long as they kept donating millions to their party.

Charge people with a bad credit rating more than they can afford? sure, go ahead.
Put people in variable rate mortgages that will double in price in a few months? sure go ahead.
Allow insurance companies to s.ell insurance to third parties not even involved in a business dealing? No problem, how bad could it be?

And now the guy is upset because ‘the economy collapsed on his watch’ instead of later as expected, on the next guys watch, at least he’s not full of self pity because of it. Or remorse, or accountability or even concern… to the Hague with them.

Peace

Merk, where are ya? Revamping your ‘Supply and Demand’ argument?

Anyhoo. Yes, it’s true. The same people who were responsible for the rise in gas prices (morgan stanley, JP Morgan, Goldman Sachs, etc.) are the same ‘people’ getting bailout money to the tune of billions. OUR bailout money? Maybe 500 bucks and a tax credit…….

Thanks a bunch Justice System.
A guy robs a liquor store, hurting nobody, goes to jail.
A company robs EVERYBODY, and gets bailout money.

BTW: Was that Kenneth Lay I saw lounging on the beach in Dubai?

Coach– No need to revamp my argument…if you remember my analysis of the problem was based on not only supply and demand, but also diminshed/unchanged refining capacity, gas taxes, ME destablization, lack of a standard fuel blend and uncertainty in the oil market, which in turn led to speculation. The crash in the market more or less had the same effect of what drilling or opening up the strategic reserve would have (to a point)…it caused the market to turn unfavorably against speculators, who in the bursting bubble jumped ship. If you remember, I believe I called for more openess and followthrough on existing regulations (which, it appears, werent enforced).

btw, supply and demand does factor into this. Americans, by and large, cut back on fuel use, even before things went south economically. The burst of the bubble merely through the speculators off sooner rather than later; as demand continued to fall, speculators would have had to wisen up, if only to continue to make money.

If anything, my analysis of the problem went more in depth…all of those things I mentioned are interrelated, and though I thought the 60 minutes piece was excellent, I had hoped they would touch on other areas as well.

Jed Clampett

Did you guys catch ‘the ascent of money’ on PBS tonight? what a show. One thing he failed to mention. The Chinese government FORCES it’s people to save 50% of their pay. It is docked even before they get it, no choice. That money they ’save’ is what is sent to America to finance it’s wars and ‘irrational exuberance’.
If you paid close attention, you’ll realize that if the bond market fails, we are screwed. And considering the level of oversight in the markets, hold on boys, this may get worse.

Peace

Not only that Jed, but they’re also predicting that the commercial realty market is going to go belly up as well…most analysts are saying we’re only halfway through, at best…