these people are a bad joke

so on marketwatch paulson says he sees no market angst in "wake of bailout." did he lose his mind when he got to treasury? does he know this sounds like stuff from the hoover administration?

are the clients complacent? the complacency, good people of the internet, is at the treasury and at the fed. all over this country right now big institutions are dumping any non-treasury paper. agency paper dumped; paper of brokerage firms dumped; commercial paper dumped. that's what's happening in wake of bsc.

of course paulson knows this - he won't say it, though. does big ben know it? i think maybe you have to, at one point if you are in a financial world, come to a conclusion that maybe you had to have sold derivative paper or bought or sold any of the paper i just mentioned to know how the game works.

this administration, politically, is ideological in nature and unwilling to intervene. the fed is unsophisticated in knowledge and relying either on similar minds to treasury or people not clued it. this is so painful and so unnecessary!

remember what the fed is doing today - it's giving jpm a put so they can go buy the worst, toxic stuff in the world right now. so, if it is ok for the fed to write a put, which will most likely have to be exercised because of the problems in housing, making the fed a buyer of that paper. why won't the fed just buy fnm and fre paper? that's the most amateurish, least-thought-out thing that could be done in my opinion!

why do they have to tinker? why do they do everything to complicate and obscure when if they do a $50 billion bid for GSE paper it goes away? do they know what they're doing?

long jpm