The patient has lost a quart and a half of blood, the tourniquet is on, blood is still being lost but not so quickly. The point is the patient is still down a quart and a half of blood and is in critical condition. Warren Buffet is not going to save the world.
Breitbart.com: Stocks fluctuate after Buffett-Goldman deal
Financial markets gave mixed signals Wednesday, with stocks stabilizing following investor Warren Buffett's $5 billion bet on Goldman Sachs Group Inc. but the credit markets showing added strain as they await news about the government's plan to rescue banks from crippling debt.
1 comment:
I like Buffet. It's good he's taking a bet on Goldman but it's not as your saying going to fix this mess. This idea being spewed about that somehow buying up all these bad mortgages will fix this is also BS. That not going to fix all the over leveraged BS paper flaoting around. Nobody knows what all the real estate is worth and under present market condidtions my guess is not much. Simple truth here that Cramer on TV ( who is spewing the bail out as a savior nonsense ) misses or doesn't want to discuss is that the home mortg. forclosures shouldn't have tipped the whole mess into the toilet in the 1st place. It all was a feakin ponzi scheme and enormous house of cards. That the mortgages at the bottom tipped it all over was just the straw not the cause as he's blovating all over on the talk shows. I cannot stand him he's a toxic klown and court jester for these thives is all. We should not think bailing these banks will fix this it won't . What it will do in my estimation is just allow these thieves to go with biz as usual for some time. Then it will all come toppling down anyway. of course that will be after the election won't it? This is an attempt to patch this mess and stabilize the house of cards so PALIN/mccain have a chance to win. if it tumbles before as it almost did last week then they for sure lose. This is a huge gamble to win a few news cycles IMHO. That's how cynical these bastards have become. It's just more of the same wild betting isn't it. As Gov.Corzine said and I paraphrase here when asked by the press what he thought. He said the 3 page doc.Paulson presented Congress and the Media was essentially just another example of all of the same kinds of crazy financial documents that have caused this whole mess in the 1st place.
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