Skip to main content

Ok, Bad to Worse

The more I learn about this economic crisis the less I know.....whew....

Mark to Market - apparently an accounting procedure for valuing *things* in this case *paper*...this accounting procedure is said to *under value* *things* as bad gets worse, akin to a *fire sale* and over value things when bad goes to better... then sandwiched in all this is some sort of ratio of bad debt to assets...so as the value of the debt gets larger, they have to raise more capital or assets to keep that ratio in place...I think... thus the bubble that just keeps growing and which now has apparently popped.

Good grief, what happened to the value of something was, what a willing buy would pay for something a seller had or a willing seller would sell to a willing buyer....that sounds like what the thing is worth to me....

Apparently because of this mark to marketing thing...the fed is going to pay over, 2 or 3 times, what the *paper* is currently valued at...I think...

I suspect the politicians don't have a clue what all this is about, except that if they voted for this bill, they were going to be out the door come election time....

Here's how they voted:

http://www.foxbusiness.com/story/markets/economy/voted-b-rescue-package//

I've got a headache from all this!

Oh and in 2004, Rep Maxine Waters, Rep Frank and a few others all stated Fannie Mae and Freddie Mac were doing just fine - no changes needed...of course we know, the Fed has taken them over as well.

Then there's the Goldman Sachs interest in AIG and Paulson is a former CEO of Goldman Sachs - boy this is really getting dicey - and yes, I sorta feel for Paulson, former CEO of Sachs, boy, is he learning that government works a whole lot different than a private company...apparently most folks are saying his purchase or what ever he did with AIG would make Tony Soprano proud, as in the lending rate is close to loan shark level....

Anyone out there think the average ordinary person is going to make out in this deal?

Then there was something called a short sell ... this is some type of *bet* that a company or investors could make that a company *would* fail, well, that did a number on the stock market...thus Wall Street is now getting a reputation for being Las Vegas East...(the Huckabee Show on Fox - good show if you've not seen it...:)) Sounds like someone *put* too much on Wall Street and the Fed had to *call* it in...ok, I have no clue what puts and calls are....

Popular posts from this blog

Americanization of Native Americans

Americanization can refer to the policies of the United States government and public opinion that there is a standard set of cultural values that should be held in common by all citizens. Education was and is viewed as the primary method in the acculturation process. These opinions were harshly applied when it came to Americanization of Native Americans compared to immigrant populations who arrived with their "non-American traditions". The Americanization policies said that when indigenous people learned American customs and values they would soon merge tribal traditions with European-American culture and peacefully melt into the greater society. For example in the 1800s and early 1900s, traditional religious ceremonies were outlawed and it was mandatory for children to attend English speaking boarding schools where native languages and cultural traditions were forbidden. The Dawes Act of 1887 , which allotted tribal lands to individuals and resulted in an estimated total o
Read more

Indian Boarding Schools - the US Solution to the Indian Problem

American Indian Boarding Schools Haunt Many by Charla Bear This is the first in a two-part report. For the photos with this piece and the rest of the story: http://www.npr.org/templates/story/story.php?storyId=16516865 May 13, 2008 Col. Richard H. Pratt founded the first of the off-reservation Native American boarding schools based on the philosophy that, according to a speech he made in 1892, "all the Indian there is in the race should be dead." CORBIS 'Kill the Indian...Save the Man' According to Col. Richard Pratt's speech in 1892: "A great general has said that the only good Indian is a dead one, and that high sanction of his destruction has been an enormous factor in promoting Indian massacres. In a sense, I agree with the sentiment, but only in this: that all the Indian there is in the race should be dead. Kill the Indian in him, and save the man." From Need to 'National Tragedy' Early in the history of American Indian boarding schools, the
Read more

Cherokees and their California Connections

Sheriff Edward “Ned” Bushyhead http://sheriffmuseum.org/index.php?/Museum/comments/sheriff_edward_ned_bushyhead The San Diego Sheriff’s Department’s history is rich with men who were not only recognized as being excellent lawmen, but built often colorful reputations outside of law enforcement. From our first Sheriff, Agostin Harszthy, who moved north to start the California wine industry and who seemingly was eaten by an alligator, SDSO sheriffs were prominent figures throughout the history of the United States. San Diego County’s 12th sheriff, Edward “Ned” Wilkinson Bushyhead was no exception. Perhaps no character in all Cherokee history was more revered and respected by his people than Rev. Jesse Bushyhead, who was born in the old Cherokee Nation of southeastern Tennessee in September 1804. Called Unaduti by his Indian friends, he had two children with his first wife and nine children with his second wife, Eliza Wilkinson who was half Cherokee. The Bushyhead home was in a small Chero
Read more