BS: best explanation of what happened yet

Subject: BS: best explanation of what happened yet
From: Donuel
Date: 05 Oct 08 - 10:06 AM

http://thisamericanlife.org/


part one can be heard or read now but yesterday's part 2 will be available as soon as Monday.

Part 2 is the best and most understandable presentation I have ever heard.

IT is often described by people inside the monster that created and controled these financial weapons of mass destruction.

Understand the mortgage mess is only about 2% of the crisis mess.
The BIG mess is in credit default swaps, which thanks to the show, I finally understand.

Subject: RE: BS: best explanation of what happened yet
From: GUEST,number 6
Date: 05 Oct 08 - 10:07 AM

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Subject: RE: BS: best explanation of what happened yet
From: Stilly River Sage
Date: 05 Oct 08 - 02:40 PM

Don,

Ira's programs were wonderful. I think he'll win some big awards for these programs--seriously. Pulitzer, Nobel. That Big. Anyway. . .

I would also direct people to the Diane Rehm Show from WAMU-FM in Washington, D.C. She was out much of last week but had excellent guest hosts, in particular, Frank Sesno. Listen to programs from Sept. 29 through Oct. 3, the first hour in particular, to get some excellent interviews with people who understand what is going on, and mostly excellent questions from the callers.

SRS

Subject: RE: BS: best explanation of what happened yet
From: Donuel
Date: 05 Oct 08 - 02:51 PM

Sub prime debts $2 trillion

CDS debts $54 trillion (could be as high as 90 trillion) but know one knows since all the bets/deals are secret.

Subject: RE: BS: best explanation of what happened yet
From: akenaton
Date: 05 Oct 08 - 03:19 PM

My god guys.....everybody with half a braincell knew what was going on.   How many Mudcat members have been saying for years that Western society is living well above it's means,

We no longer compete in the manufacturing marketplace, we have been living on credit for at least a decade, and if we stick to this economic system we will continue to live on credit ....there is no alternative if we want to keep the economics of the madhouse.
Some day quite soon, people are going to have to face up to what is happening to them...that their economy won't continue to grow forever ...by magic.

Our lifestyle is unsustainable. We don't need it . It is encouraged by the rich to make themselves richer and to make you and I economic slaves...Ake

Subject: RE: BS: best explanation of what happened yet
From: Stilly River Sage
Date: 05 Oct 08 - 04:40 PM

Ake, we know that. You're generalizing, these programs are quite specific.

This series of interviews digs deeper and shows some of the financial vehicles that Everyman is likely to be clueless about. Finely tuned for maximum profit, but hidden behind lots of other financial systems.

SRS

Subject: RE: BS: best explanation of what happened yet
From: Donuel
Date: 06 Oct 08 - 01:11 PM

Your money got gambled away in what started as an insurance scheme and then turned into a casino with no money in the back room to cover bets...

http://thisamericanlife.org/Radio_Episode.aspx?episode=365

Subject: RE: BS: best explanation of what happened yet
From: Donuel
Date: 06 Oct 08 - 01:11 PM

http://thisamericanlife.org/Radio_Episode.aspx?episode=365

Subject: RE: BS: best explanation of what happened yet
From: Donuel
Date: 06 Oct 08 - 01:53 PM

Why on earth would Bank of America have a TV commecial where the bank is symbolized as a red and white paper airplane being thrown from a sky scrapper?

The paper airplane catches a few up drafts but keeps going down.

thats what paper airplanes do.

What genius sold that ad to them? What genius decided to buy it?


I see the airplane as your money going down down down

Subject: RE: BS: best explanation of what happened yet
From: John on the Sunset Coast
Date: 07 Oct 08 - 01:53 PM

"I see the airplane as your money going down down down"
I agree it's a horrible metaphor for what is going on now...although I
don't believe that was their intention.

I listened to the archive of that program, and it truly is frightening.

My strategy, is just to use short term CDs at the highest interest rate I can find until there seems to be a turnaround, or there is at least some stability . I have sold nothing, but I'm not buying anything new. My financial advisor is pulling his hair out, but that's all I'm comfortable with right now.

Subject: RE: BS: best explanation of what happened yet
From: Don Firth
Date: 07 Oct 08 - 02:52 PM

Wile E. Coyote, standing twenty feet out from the canyon rim, just looked down.

You know what happens then. . . .

Don Firth

Subject: RE: BS: best explanation of what happened yet
From: The Fooles Troupe
Date: 08 Oct 08 - 08:39 AM

""I see the airplane as your money going down down down"
I agree it's a horrible metaphor for what is going on now...although I
don't believe that was their intention."

One of out national TV networks insists on a 'news update' ad that shows their News chopper reflected in a skyscraper.

Every time I see it, I think it looks like it is about to crash into it...

Subject: RE: BS: best explanation of what happened yet
From: Donuel
Date: 08 Oct 08 - 08:59 AM

opps The ad is for US Bank and not BOA.

If you listened to the program you will know that the government plan to supplu commercial paper is at least the correct bandaid for the wound.

Subject: RE: BS: best explanation of what happened yet
From: Donuel
Date: 08 Oct 08 - 09:52 AM

Again now is the time to buy some APPLE computer stock.

over the long run it will double and for the short term Apple is/will offer a stock buy back.

I am going to throw a thousand at it today or tommorrow just to put money where my teeny weeny little mouth is.