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Tuesday Night Open Thread

Papa u mau mau (what’s on your mind?)

39 Responses

  1. I’ve heard people say that the market crashed in mid-September to help Obama because McCain was ahead, but I thought it looked more like it happened as it became evident McCain’s post-RNC Convention bounce wouldn’t last.

    Scroll down to see poll numbers during September 2008 from Real Clear Politics…if you’re interested…


  2. Well, actually, the market crashed in early October 2008. What I mean in my comment above is the electronic run on the banks in mid-September 2008 talked about by Congressman Paul Kanjorski.

  3. Ack!! Here’s the non-Cheeto link that should be in my comment at 1:57am

  4. Hey… are there folks actually awake at this time of night?


    Just musing on sleep and puppies:


    And reading the book for this month’s bookclub;


  5. From WWL TV’s website about choppers and stuff in nola:


  6. As I chomp on my delicious wee hour snack, some random thoughts..

    Why do you keep the lights on thru the night. Being kind to people who work the night shift, or are there international agents dropping off coded packages during these late hours.

    Might there be some SWFs out there in the world who also manage Sovereign Wealth Funds. How would they advertise themselves in the personals.

    Are there people with CDS who are also capable of manipulating or shorting Credit Default Swaps. What exactly is Black Wednesday.

    Why is it that “a judge’ is someone to respect and occasionally admire. But “to judge” is pretty much universally seen as bad manners. Is an Ayatolla a judge or simply a mentally disturbed individual.

    Back to my yummy meal, trying my best to ignore these annoying calls from Asia..

  7. Fixing the link: (remove the space)

    http://www.pennypresslv.com/ Obama’s_Use_of_Hidden_Hypnosis_techniques_in_His_Speeches.pdf

  8. Wikipedia on Lehman Brothers collapse on Sept. 15.

  9. Lehman was just collateral damage, not the launch pad. Follow the moneee. Are there banks in Switzerland. Does an elephant have a nose. (cough) Anyone have a Vicks.

  10. Break it down a little further, please, 3W?

  11. Who banks in Switzerland. Where is UBS headquatered in the US. Where are hedge funds centered in the US.

  12. Who heads the Senate Finance Committee.

  13. (scratching head)
    Dunno, Dub Trey. you’re losing me. USB was a big Obie donor, but so were it’s competitors. Far as I know, USB is hq’ed in NYC, NJ and Conn; hedge funds, NYC and Conn. What am I missing, besides everything?

  14. A couple of interesting articles on Hot Air blog.
    The feds looking a Murtha and lobbys
    Rahm may have some tax problems like Dashle.
    Did any politicians pay taxes? Is it only the dumb working stiffs that pay?



  15. Myiq2xu: Where are you finding all these neat parodies of motivational posters?

  16. 3 W, is this what you’re talking about?

  17. Someone on the last thread mentioned Geittner’s role in the failure of Lehman. Here in Europe many important economists see the crisis as being sparked by the Lehman failure. From the European Central Bank site, just one example:

    Looking back at the events of last month, it seems clear that the failure of Lehman Brothers could have should have been avoided. This is not just an ex-post assessment, made in the light of what happened afterwards, but also an ex-ante one. It was obvious that in a crisis of confidence, such as had existed for months, the failure of a bank, even a medium-sized one, would have a contagion effect, triggering a flight from the system. This was why, in previous months, in both the United States and Europe (for example, Denmark, Germany and the United Kingdom), the authorities had intervened precisely to avoid the collapse of banks that were in difficulty (Bear Sterns, Northern Rock, IKB and Roskilde).

    In the light of this assessment, it is legitimate to ask why the failure of Lehman Brothers was not prevented.


  18. firlight2012, on February 11th, 2009 at 1:52 am Said:

    I’ve heard people say that the market crashed in mid-September to help Obama because McCain was ahead, but I thought it looked more like it happened as it became evident McCain’s post-RNC Convention bounce wouldn’t last.

    I was surprised to read this because I distinctly remembered that McCain was rising that week. And if you look more closely at the link you provide, you will see that McCain’s figures fall after Sep 15.

  19. Laurie, I had read things that support your assertions, but the fact that Paulson has been pushing for a TARP since last spring threw a monkey wrench into the mix for me. Where does that fit in? It seems like these dominoes fell in order, Lehman collapse, the mini-panic, the investment bank status change to commercial, TARP passes, plus all the other economic machinations and maneuvers last year seem “curiously timed” and inter-connected, to put it mildly. I wish I understood more.

  20. If the conventional wisdom is that the market crashed in Mid-september to help Obama, then I don’t understand why an alternative view would be that the reason for the crash was that McCain’s post convention bounce wouldn’t last.

    If that were the case, then BHO wouldn’t have needed any help; not if McCain’s “bounce” was tanking on its own. I don’t get your reasoning Firlight

  21. From now on I will think of Geitner as Walken Lite. In “Things To Do In Denver When You’re Dead” Christopher Walken plays a character called The Man
    With The Plan. Andy Garcia plays the head of a small crew of criminals who Walken asks to do a job. They botch the job resulting in the death of Walken’s daughter. Walken then decides that they all must die except Garcia. Dying is referred to as “having boat drinks”.

    Walken Lite, Mr. This-Is- No- The- Plan,-This- Is- The Plan-For- The- Plan, whatever that means, decided the economy will be having boat drinks in the not too distant future. The decision was made last August in Denver, Anybody remember last August in Denver? Life imitates art; or in this case a B movie. GeitnerWEll l

  22. Inhofe Floor Speech Opposing Geithner Confirmation

  23. Sorry Cinie, just getting off another call. On this stuff, who knows for sure. As exposed as Lehman was, it wouldn’t have taken much more than an internet rumor or a significant trade from a competitor to start the dominos. People like Paul Tudor Jones and Martin Wolf are capable of that. And they were among the biggest sponsors of Obama’s campaign kick-off and also good friends with Soros. Guess the point is, if someone wanted to prick the bubble after the nominating convention in order to favor the Democrat, it would not have been hard to do – for the people who really set the pace and pull the strings in the market. If the SEC or whoever wanted to look into this, they should probably look at funds or traders who had either made money or lost the least money by the end of Sept. I don’t see a lot of urgency on that front from Obama’s team right now.

  24. Robert Wolf.

  25. Cinie:

    check your email

  26. 3W, Wolf’s interesting, but that connection feels…incomplete. Who put the Wolf bug in Obie’s ear? How’d he know who to suck up to? What’s Wolf’s game plan? He can’t really be worried about Senate investigation. Feels like a piece of the puzzle, but the picture doesn’t seem clear to me, just yet.

  27. Just after the election there were conversations about HRC as SecState, and the responses were mainly,”no she’d never take it, because she’d be sidelined immediately.”

    A sweet little old lady walks out into her snowy garden one morning to get the paper, and finds a snake frozen solid on the sidewalk. She takes it inside, thaws it, nurses to health and is promptly bitten. As she lays dying of the poison, she asks the snake, “How could you? I saved your life.” The snake responds, “Bitch, you knew I was a snake when you picked me up.”

  28. poplicola:

    Your joke works equally well with Morris or Obama as the snake.

  29. The bright spot in my news reading lately is the repeated instances of people surprised that Obama is inept and a liar, and not a good person. Lots of us knew before November, but there is a new crop of well-intentioned folks every day who are learning they picked a snake up. I think that HRC knew the deal beforehand and has her own agenda, and is somehow innoculating herself against snake venom.

  30. You can also check the state dept website for her schedule and transcripts of her press conferences.

    I believe the “Hillary is being marginalized” meme is coming from Republican disinformationists who want to alienate Hillary’s supporters from the Democrats.

    And why would anyone believe what Dick Morris says about Hillary??

  31. cinie 4.29

    I wasn’t really making any assertions. It was simply that Inky 10.25pm in the last thread posted this from wiki:

    Perhaps what has most people on Wall Street stirring is Geithner’s role in the fall of Lehman. At the time of its bankruptcy, he, along with Paulson, appeared to be the most vocal in supporting the government’s refusal to bail out the firm, according to people involved in various meetings. With hindsight, many in the financial industry blame a deepening of the global financial crisis on the government’s decision to let Lehman crumble.

    which made me remember that some opinion over at the European Central Bank site, (a very conservative bank-similar in a way to the Fed Reserve) when I’d visited it a couple of weeks ago, seemed to blame the global crisis partly on Lehman’s failure.

    I googled ECB and Lehman and got a lot of hits. Posted this article because it was by an Italian (and the first to show up).

    Thought I’d post it here for its curiosity value. But I really don’t know what happened.

    Anyway what I DO know is that conservative European bankers do NOT believe in letting banks fail that way. Definitely not b4 an important election, and definitely not in such a way that their rivals can buy them up for next to nothing.

    What I am increasingly worried about is the growing centralisation of the US. Fewer and bigger banks-banks which are “too big to let fail”.
    The near bankruptcy of many States and their consequent dependency on Fed funds and Washington.

  32. cinie

    also I like Paulson-Krugman liked him and Bernanke (so did (Chas Lemos)(shhhh) who once worked for him).

    But it’s Geitner who’s getting payback now. (from Obama)

  33. Joanie in Brooklyn, on February 11th, 2009 at 4:33 am Said:

    What I am considering is possible evidence that is contrary to the “conventional wisdom” that the bank run was done to help Obama. There seems to be some evidence that it was done in response to a probable Obama win.

  34. Laurie, on February 11th, 2009 at 4:21 am Said:

    From the link at Real Clear Politics in my comment above at 1:52 am, it looks to me as if McCain’s convention bump is receding around 9/10-9/11/08.

    Then came Lehman Brothers bankruptcy on 9/14/08 and the electronic bank run on 9/18/08…

    I dunno…just speculating…

  35. Firlight- if you hover your mouse over the graph on your link from Real Clear Politics you will find that McCain’s leads were:

    9/6 Obama leads 2.4
    9/ 7-1.0 McCain leads by 1
    9/ 8-2.9
    9/ 9-2.4
    9/ 10-2.2
    9/ 11-2.5
    9/ 13-2.4
    9/ 14-2.1
    9/ 15-1.6
    9/18- Obama lead 1.9

    I see McCain’s drop following Lehman Bros

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