Forum
« where do I live, and do you have any suggestions for the area? Pre-1938 CofO renovation question »
November 12, 2008
what the....
http://online.wsj.com/article/SB122650321703420903.html
do you trust this man
Comments
you dont know anything no wonder everyone hates you including me you see today that gm went up with bail out news obama knows how to run the economy if he keeps dispersing the bailout money the market will bounce back commercial real estate is still strong and thriving douchwood
Posted by: douchwood at November 12, 2008 9:17 PM
That my Homeboy!!!!!!
I'm going to hang with Paulson when he leaves office. We are going to bang the hottest chicks in Rio!! Yo Paulie holla at your boy!!!!
The What
Someday this war is gonna end...
Posted by: Return of The What at November 12, 2008 9:19 PM
donde estas douchwood
Posted by: douchwood at November 12, 2008 9:28 PM
biff calm down...what he got a sweeeeet deal
Posted by: derwood at November 12, 2008 9:31 PM
biff just please try 2 contain yourself..your insults r the highest compliments i could ask 4..look at what u guys did 2 the what...hahaha..douchebag i believe would b the correct term dufus..
Posted by: derwood at November 12, 2008 9:38 PM
I vote for Asshat Killer of the month DERWOOD!
The What
Someday this war is gonna end...
Posted by: Return of The What at November 12, 2008 11:01 PM
Three of the most assinine posters above. I say this thread's over. Just a car wreck here people. Move on.
Posted by: daveinbedstuy at November 13, 2008 8:20 AM
DIBS you are a smart guy..why are you calling this asinine, i would say concerning from two different angles..1.can you give me some idea what Paulson is doing, he's a product of your brilliant industry and all of their thorough analysis. i'd like to hear your take b4 u move on..2.it just seems to happen that some tools on this site seem to like to shoot first, and then mock..and then pat themselves on the back..the point of the post is discussion..not to squelch ideas, or maybe I dont follow the new world order.
Posted by: derwood at November 13, 2008 8:52 AM
derwood, please don't flatter yourself by thinking I would be bothered to create another login ID just for you. Plus, you're douchewood to me, i.e., with an "e". And it's "doophus", doophus.
Nice try though.
Posted by: Biff Champion at November 13, 2008 9:23 AM
"DIBS you are a smart guy"
douchewood, you're finally learning something. Good boy.
"it just seems to happen that some tools on this site seem to like to shoot first, and then mock..and then pat themselves on the back."
You mean like this, douchewood?
"I vote for Asshat Killer of the month DERWOOD!"
Posted by: Biff Champion at November 13, 2008 9:26 AM
why come to the thread if you are just going to simply point out your lack of insight you can do that on plenty of other threads where they talk about chocolate and lattes..the adults are trying to have a civil conversation..you can go back to the playground, I'll come and get you when we are done..let me make sure you have a clean diaper, I think you may have crapped yourself AGAIN.
Posted by: derwood at November 13, 2008 9:41 AM
Please derwood: Learn some punctuation.
Posted by: daveinbedstuy at November 13, 2008 9:52 AM
Posted by douchewood in this thread:
"the adults are trying to have a civil conversation"
Also posted by douchewood in this thread:
"let me make sure you have a clean diaper, I think you may have crapped yourself AGAIN."
"douchebag i believe would b the correct term dufus.."
Posted by: Biff Champion at November 13, 2008 9:55 AM
i started a post asking about Paulson's policies why cant't you guys address the topic I see this is a frequent problem you guys seem to have..I wasn't insulting your brownstones or your imminent messiah..STAY ON TOPIC!!
Posted by: derwood at November 13, 2008 10:01 AM
WHAT how do you navigate through all of this idiocy! truly an exercise in futility..and you're just doing it for there own good.
Posted by: derwood at November 13, 2008 10:06 AM
I have worked with him (although to be frank that just means I have been in conference rooms with groups that included him and maybe shook his hand a couple of times - I very much doubt he remembers me). He is incredibly cool under pressure. I can't think of a single human being who could keep his shit together while trying to do his job right now. Do you have any concept of the pressures that are being applied to him behind the scenes? This man is one very cool cat. Without Hank Paulson and Tim Geitner in their current positions things would be much worse than they currently are.
Perhaps What is angry that Hank is keeping his treasured armageddon at bay?
Posted by: lechacal at November 13, 2008 10:09 AM
thnks lechacal, but how do citizens read his actions..he jammed through $700B to purchase distressed assets, though not one asset was purchased..are we just looking at the beginning of rampant gov't spending? I realize this may be a necessity given the nature of this disaster.. Do you really think he is keeping armageddon at bay? You don't see the inevitable shit storm that we are already in? and how much worse it is going to get. I think this will make the 70s look like a cake walk.. Where is the upside here, the market has 0 confidence and the continued deleveraging seems to be self fulfilling. I dont think paulson could purchase those assets because those assets don't really have any inherent value in them when you factor all of the hidden costs built into them, otherwise he would have done that already.
Posted by: derwood at November 13, 2008 10:20 AM
"why cant't you guys address the topic"
Because we don't have to and you cannot put together a sentence so we don't respect you.
"I see this is a frequent problem you guys seem to have"
It's not a problem. It gives us pleasure.
"STAY ON TOPIC!!"
No thanks
"you're just doing it for there own good."
It's "their" douchewood. Refer to my first comment above.
Posted by: Biff Champion at November 13, 2008 10:24 AM
"he jammed through $700B to purchase distressed assets, though not one asset was purchased"
That statement would indicate that you have absolutely no clue what they bought do you?? Any idea what convertible preferred stock is?? No, I thought not.
Discuss that.
Posted by: daveinbedstuy at November 13, 2008 10:32 AM
"i started a post asking about Paulson's policies"
No, you started this post with an enormous photo and an unpunctuated query that asked simply "do you trust this man". Hardly the way to start an intelligent and informative discussion of U.S. economic policy. Face it, every time you (or the real ROTW) posts on the Brownstoner forum page as if there is a whole new dialogue to be had about the economy since yesterday, and that such dialogue should be had on a web-based forum devoted largely to home purchasing and renovation in and near brownstone Brooklyn, you reveal yourself to be attention-starved and misguided. Face it, your post is not about Paulson, it is about you. So don't act surprised if every time you make another play for attention in this forum, you get the same snarky comments as last time from the same people. The comments you get are not functions of any perceived inability of the commenters to understand the markets or the economy, they are functions of their low regard for your efforts on this site.
Posted by: slopefarm at November 13, 2008 10:35 AM
^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
QOTD, perhaps Quote of the Year!
slopefarm nailed it. In terms douchewood and The What can understand, you two just got POOWED!
Posted by: Biff Champion at November 13, 2008 10:38 AM
derwood, you are not giving the impression that you understand how decisions of this magnitude are made. Hank Paulson's job is not, for the most part, to decide what he thinks is best and tell people to act accordingly. That kind of job exists only at relatively low levels. Hank's job is to be a focal point for a number of powerful and competing interests in the middle of a massive crisis and somehow manage to keep the ship together enough so it doesn't sink. He is astonishingly good at this job.
Posted by: lechacal at November 13, 2008 10:46 AM
I believe douchewood, derwood, and the various iterations of the What just got served. Or in other words, slopefarm BROUGHT IT.
Posted by: I_haz_TWO_toilets at November 13, 2008 10:46 AM
"WHAT how do you navigate through all of this idiocy! truly an exercise in futility..and you're just doing it for there own good."
Hey Derwood it's two Asshats left Itchy and scratchy! Everybody else has acknowledge the presence of the Mutant Asset Bubble. Ignore them and maybe we can get some real discussion going on.
"No, you started this post with an enormous photo and an unpunctuated query that asked simply "do you trust this man"."
Check that, three Asshats.
I wonder why you Asshats come to thread that discuss the MAB just stay away.
The What
Someday this war is gonna end..
Posted by: Return of The What at November 13, 2008 10:47 AM
Standing ovation for slopefarm.
Posted by: lechacal at November 13, 2008 10:47 AM
I believe George Villiers was referring to derwood and What when he said:
"I have heard, indeed, that two negatives make an affirmative; but I never heard that two nothings ever made anything"
Posted by: Biff Champion at November 13, 2008 10:51 AM
"Perhaps What is angry that Hank is keeping his treasured armageddon at bay?"
No Asshats Paulson is a Pig Man that helped out his homeboy loot the US Treasury, 2 Trillion dollars stolen right in front of your eyes.
Paulson's Bailout: A "$700 Billion Switcheroo"?
http://www.usnews.com/usnews/politics/bulletin/bulletin_081113.htm
"CNN The Situation Room reported, "Originally sold to Congress as a way to take troubled assets off banks' books, Paulson today said he changed his mind." The CBS Evening News notes Paulson "insisted he had not misled the Congress." Paulson said in an interview with USA Today, "You need to be able to change strategies as the facts change.""
I just love this! Guess what? when I was doing RE and a Asshat had a bright idea I would tell the ricks and downfall of their plan. The Asshats would ignore me, go out and do the dumb shit and get his ass handed to them. I think this same concept goes on right here but I will warn you when not if this shit goes I will be right here to remind you everyday of your mistakes and Derwood too.
The What (Keep fucking around)
Someday this war is gonna end...
Posted by: Return of The What at November 13, 2008 10:55 AM
"Hey Derwood it's two Asshats left Itchy and scratchy!"
derwood=Itchy and What=scratchy
"Everybody else has acknowledge the presence of the Mutant Asset Bubble."
It's been acknowledged. Now try to post a comment on something else. You're boring us.
"Ignore them and maybe we can get some real discussion going on."
You two can't ignore us. derwood mentions me in every thread he posts before I join and The What comes to my own Forum threads and posts dozens of times in each one.
"Check that, three Asshats."
Ok, so now you're including DOW in your little group.
"I wonder why you Asshats come to thread that discuss the MAB just stay away."
Refer back to my response above about you crashing all my threads.
Posted by: Biff Champion at November 13, 2008 10:55 AM
slopefarm...QOTW..the week!!!!
Posted by: daveinbedstuy at November 13, 2008 10:56 AM
Oh lord What, can I tell you how much I do NOT trust this man or his merry band of GS thieves. I used to have to turn off the TV when Bush came on, now it's Paulson. My heart sinks to my stomach everytime he opens his mouth. I was especially appalled this morning when I saw him patting himself on the back for being 'prescient' - what a jerk - if he's been 'prescient' we might not be in this mess at all. He shouldn't be patting himself on the back for anything, he should be apologizing to us.
ARRGGGGH.
Posted by: cobblehiller at November 13, 2008 10:57 AM
One of the burdens of accepting Paulson's job (in addition to the massive pay cut he took) is that he has to be the public face of the crisis, and he will inevitably be blamed by poorly informed members of a frightened public (like cobblehiller). Paulson didn't create this crisis. He is doing an incredible job at keeping the ship from sinking. And yet he has to accept uninformed sniping from mouth-breathing, knuckle-dragging members of the voting public.
You should be thankful that a man of his caliber was willing to take the job. God forbid we end up in a crisis someday when people of this caliber have stopped accepting cabinet-level appointments. Don't forget how horribly wrong the FEMA hurricaine response was when "brownie" was in charge. If a leader like Hank were in that position things would have ended very differently.
Posted by: lechacal at November 13, 2008 11:12 AM
" Face it, every time you (or the real ROTW) posts on the Brownstoner forum page as if there is a whole new dialogue to be had about the economy since yesterday, and that such dialogue should be had on a web-based forum devoted largely to home purchasing and renovation in and near brownstone Brooklyn, you reveal yourself to be attention-starved and misguided" BRAVO! so eloquent!! brilliant!!QOTD!!!
the sheep have shown their approval!!
thanks Slope I'm looking for all the compliments I can get!
"as if there is a whole new dialogue to be had about the economy since yesterday"
Slope you don't see this rapid change of direction disturbing? this is a whole new direction!!this is a new dialogue.
I know DIBS preferred stock, i know nothing, i can't punctuate my sentences properly.! " therefore I '' mm an IdiOOOOt. Preferred stock in what exactly..?Is the American public going to see that capitol ever again?
they tell preferred stock dave says baaah yay!
now you believe in the treasury?
I never stated I was as intelligent as you market savvy sort or linguistically gifted but read and ask some basic questions b4 you attack me..it's only "fair"
Posted by: derwood at November 13, 2008 11:22 AM
You see Cobblehiller you "get it". The greatest robbery in America and it was right in your face. Oh you got to love it. I wonder if the cheerleaders will stick around next year?
The What
Someday this war is gonna end..
Posted by: Return of The What at November 13, 2008 11:25 AM
"You should be thankful that a man of his caliber was willing to take the job. God forbid we end up in a crisis someday when people of this caliber have stopped accepting cabinet-level appointments."
This why is are in this mess. Thanks lechacal for your insight.
The What
Someday this war is gonna end...
Posted by: Return of The What at November 13, 2008 11:27 AM
lechacal did you ever believe the TARP reform? Was there ever a way to value these worthless assets? was the entire premise false? did u ever think he was going to purchase those assets..
Posted by: derwood at November 13, 2008 11:31 AM
"i know nothing, i can't punctuate my sentences properly.! " therefore I '' mm an IdiOOOOt."
douchewood, you're finally getting it! Hooray!
"I never stated I was as intelligent as you market savvy sort or linguistically gifted"
You don't have to state anything for us to know you're a moron, douchewood.
Posted by: Biff Champion at November 13, 2008 11:35 AM
derwood doesn't know an asset from an asshat.
Posted by: daveinbedstuy at November 13, 2008 11:36 AM
enema really what do you do? i mean contribute to society..i know what DIBS thinks he does..but what do you do!!
love,
your personal internal cleanser (at least i serve a purpose)
Posted by: derwood at November 13, 2008 11:50 AM
Weren't Itchy and Scratchy from Matt Groenig?
Posted by: bridges at November 13, 2008 12:15 PM
derwood, TARP is evolving. At one stage outright purchases of troubled assets were perceived as the best solution. I think the best way to articulate yesterday's change (focus on purchases of bank capital rather than purchases of troubled assets) is that capital purchases leave much less opportunity for mischief by non-governmental market participants. A lot of people have been trying to figure out how to get rich on direct asset purchases since TARP was announced. People in DIBS' industry in particular. In my humble opinion Paulson did the right thing by shifting focus.
Second guessing these decisions with hindsight is astonishingly presumptuous. Consider what the world would be like if Paulson had done nothing at all.
Posted by: lechacal at November 13, 2008 12:23 PM
"Weren't Itchy and Scratchy from Matt Groenig?"
bridges, yes, you're correct. You didn't expect the cut and paste king The What to have an original thought now, did you?
Posted by: Biff Champion at November 13, 2008 12:27 PM
I wasn't second guessing with hindsight, i thought it was crazy from the get go..how did we expect this thing to work? and when is the next 700B going to be jammed down our throats under some other false pretense.
Posted by: derwood at November 13, 2008 1:12 PM
"when is the next 700B going to be jammed down our throats under some other false pretense."
Soon I hope. You suckers keep paying for the crazy bonuses I've been getting over the years. I'm lovin' it!
Posted by: Biff Champion at November 13, 2008 1:39 PM
That's what I thought, thank Biff. Wow, that takes me back! CostRevs! DrinkyCrow!
Posted by: bridges at November 13, 2008 1:56 PM
The Bailout: Bush's Final Pillage
- http://www.thenation.com/doc/20081117/klein
"When European colonialists realized that they had no choice but to hand over power to the indigenous citizens, they would often turn their attention to stripping the local treasury of its gold and grabbing valuable livestock. If they were really nasty, like the Portuguese in Mozambique in the mid-1970s, they poured concrete down the elevator shafts.
The Bush gang prefers bureaucratic instruments: "distressed asset" auctions and the "equity purchase program." But make no mistake: the goal is the same as it was for the defeated Portuguese--a final frantic looting of the public wealth before they hand over the keys to the safe."
Posted by: SnarkSlope at November 13, 2008 2:19 PM
"Slope you don't see this rapid change of direction disturbing? this is a whole new direction!!this is a new dialogue."
That's not the question you posed to start this thread. Whatever I think about Paulson and the economic situation, I do not yet see a good reason to engage in dialogue with you about it and your post was hardly thought-provoking.
Had you started the thread with a reasonable fact presentation and a thoughtful question, you might get more real discussion and less mockery on this site from those that are so inclined. But then there is still the question of why here? Why on this site? Why is it so important to you to try to impress this community of brownstone Brooklyn homeowners, renters, appraisers, plumbers, architects, and realtors etc. with your views on national economic policy? And why get so shocked, shocked that there's sarcasm and snark on this site? Why do you gripe about it when people don't play along with your game? And why do you keep doing it when you know the cast of characters here and you know you are going to get snark? Forget the merits of any argument you think you are making -- what is your purpose here?
Posted by: slopefarm at November 13, 2008 2:40 PM
Oh Snark, I'm so afraid that is true. Unbelievably sad.
Posted by: cobblehiller at November 13, 2008 3:35 PM
We've been hosed.
From MarketWatch: Recently Naomi Klein, author of "The Shock Doctrine: The Rise of Disaster Capitalism," framed the issue perfectly: "Has the Treasury partially nationalized the private banks, as we have been told? Or is it the other way around?"
Posted by: SnarkSlope at November 13, 2008 4:16 PM
"Why is it so important to you to try to impress this community of brownstone Brooklyn homeowners, renters, appraisers, plumbers, architects, and realtors etc. with your views on national economic policy?"
why automatically assume i have no skin in the game why does this "community" continue to be a bunch of HATERS!!
I teach in one of the poorest title 1 schools in Brooklyn where I help students get scholarships to some of the most prestigious art schools in the country..I am landlord in BROWNSTONE brooklyn you snide witch, and a kind and respectful one at that.. I guarantee I pay far more property taxes than you and the rest of this insipid "community" do..I employ Brooklyn residents and businesses to do all of the work pertaining to my buildings and I keep my tenants and my neighborhood in the best shape. So please do me a favor and pause before you all lash out like I bunch of hyenas..Gd forbid I don't hold the same opinion as you folks do, and I don't really give a damn about my punctuation or grammar for that matter, but for a COMMUNITY try a little respect. I didnt start the snark and I really try not to go to that level, because it is pointless on a thread and is totally destructive. so you all have a great day! The community seems to place greater stress on the external rather than focus on the point. If you did happen to read the article they were discussing that Paulson did an about face on his bailout policy. That policy has SIGNIFICANT ramifications on"Brownstone"(comment said with a snarky condescing tone) BRooklyn. You can simply disagree with me rather than making a personal attack, but that is never enough on this site. I followed this post for about 3 years because I do have significant interests here, and never commented because of the general tone that was pervasive on the site. I see the way things run here, and if you can coin a derogatory snarky nickname than you win the grandprize. anyway enjoy sophmoric bashing and perhaps when you guys have some kids you will grow up.
Posted by: derwood at November 13, 2008 6:59 PM
Excuse me, but you seem to make an awful lot of assumptions about me. I have a kid, a house, a mortgage, a tenant and have lived in the neighborhood as an adult for the past 23 years. You also have no idea whether I agree with you or not on economic policy because I simply have not posted my opinions on the topic.
Your new post this evening seems to comje closer to teeing up a real question. I am still curious why you and ROTW keep trying to engage the readers of this forum in daily discussions of the current economic situation. Are you looking for insight? To persuade? What do you hope to get out of it. If you truly have been reading this site for three years, you know what to expect. It was your presumptious outrage at the fact that others did not take your post seriously that led to my response taking issue with your post. It seemed truly self-aggrandizing on your part to post an outsized photo and lame query and then get mad when you got snark in return. seriously, what did you expect?? I really am curious what, if anything besides narcissism, drives your need to try to instigate a daily (and now twice daily) economic discussion on this particular site with this particular community. I am genuinely curious as to what your answer might be.
Posted by: slopefarm at November 13, 2008 10:37 PM
From the pic, I can see Paulson's house has recessed lighting and he considers it a necessary evil. Just look at his eyes.
Posted by: pattunia at November 14, 2008 3:43 AM
This thread's probably finished, but here's a relevant snippet from Paulson's wiki:
In 2004, at the request of the major Wall Street investment houses, including Goldman Sachs, then headed by Paulson, the U.S. Securities and Exchange Commission agreed unanimously to release the major investment houses from the net capital rule, the requirement that their brokerages hold reserve capital that limited their leverage and risk exposure. The complaint that was put forth by the investment banks was of increasingly onerous regulatory requirements -- in this case, not U.S. regulator oversight, but European Union regulation of the foreign operations of US investment groups. In the immediate lead-up to the decision, EU regulators also acceded to US pressure, and agreed not to scrutinize foreign firms' reserve holdings if the SEC agreed to do so instead. The 1999 Gramm-Leach-Bliley Act, however, put the parent holding company of each of the big American brokerages beyond SEC oversight. In order for the agreement to go ahead, the investment banks lobbied for a decision that would allow "voluntary" inspection of their parent and subsidiary holdings by the SEC.
During this repeal of the net capital rule, SEC Chairman William H. Donaldson agreed to the establishment of a risk management office that would monitor signs of future problems. This office was eventually dismantled by Chairman Christopher Cox, after discussions with Paulson. According to the New York Times, "While other financial regulatory agencies criticized a blueprint by Mr. Paulson, the Treasury secretary, that proposed to reduce their stature — and that of the S.E.C. — Mr. Cox did not challenge the plan, leaving it to three former Democratic and Republican commission chairmen to complain that the blueprint would neuter the agency."[11] Changes to the net capital rule are thought to be an important factor in the credit market meltdown of 2008.
In late September 2008, Chairman Cox and the other Commissioners agreed to end the 2004 program of voluntary regulation
Posted by: bridges at November 14, 2008 12:41 PM
voluntary regulation = oymoron
Posted by: SnarkSlope at November 14, 2008 4:01 PM
voluntary regulation = oxymoron
Posted by: SnarkSlope at November 14, 2008 4:01 PM
Post a comment
Please be patient while your comment is published. It may take a moment.