From: tony cooper on
On Wed, 21 Apr 2010 16:41:58 -0400, "Peter"
<peternew(a)nospamoptonline.net> wrote:

>As to morons & idiots, should they be sterilized?
>I say yes, with real safeguards!

Stop attacking Chris H. You're the one that doesn't like intra-group
conflict.

--
Tony Cooper - Orlando, Florida
From: Bill Graham on

"Albert Ross" <spam(a)devnull.com.invalid> wrote in message
news:dosrs5lhlj22hep0kes1enjmksjggikrav(a)4ax.com...
> On Tue, 20 Apr 2010 12:01:57 +0100, Bruce <docnews2011(a)gmail.com>
> wrote:
>
>>On Mon, 19 Apr 2010 19:36:15 -0400, "Peter"
>><peternew(a)nospamoptonline.net> wrote:
>>>"Bill Graham" <weg9(a)comcast.net> wrote in message
>>>news:2cGdnYKPS8_3VVbWnZ2dnUVZ_rWdnZ2d(a)giganews.com...
>>>>
>>>>
>>>> I am saying, and have said several times before, that the people I am
>>>> talking about are not those who are disabled to the extent that they
>>>> find
>>>> it impossible to work. I never wanted to cut these people off.....As a
>>>> matter of fact, I would like to cut off the other 98% (a good
>>>> statistic)
>>>> who have all their fingers and toes and mental capabilities and could
>>>> work, but don't, and give this money to those of whom you speak who
>>>> can't
>>>> work for one reason or another. The people of whom I speak, who could
>>>> work
>>>> but don't, ate (and have been) subsidized by the state of California
>>>> all
>>>> of my life...<BS rant snipped>
>>>
>>>And the reliable source for your statistics is?
>>
>>
>>Fox "News", of course!
>
> In the UK there are around 3 million unemployed (taking into account
> the way the numbers have been fudged over the years)
>
> Maybe there are 100 000 job vacancies. If they were all filled there
> would STILL be around 3 million unemployed.
>
> We maintain that sort of number since Thatcher. This keeps down the
> wages of the employed and ensures more money goes to the rich as a
> result.
>
> And as for investments, my mother thought she was doing well off her
> investments until the crash, when it turned out she lost about as much
> capital as they'd paid out in "interest" over the last few years. Thus
> all they were doing was metering her capital back to her in monthly
> payments and *pretending* it was interest


That's still better than spending it, which is what the government does with
your social security payments.......

From: Bill Graham on

"Peter" <peternew(a)nospamoptonline.net> wrote in message
news:4bcf2004$0$27730$8f2e0ebb(a)news.shared-secrets.com...
> "Bill Graham" <weg9(a)comcast.net> wrote in message
> news:MPWdncL2_4aCilLWnZ2dnUVZ_jednZ2d(a)giganews.com...
>>
>> "Peter" <peternew(a)nospamoptonline.net> wrote in message
>> news:4bccebb7$0$27701$8f2e0ebb(a)news.shared-secrets.com...
>>> "Bill Graham" <weg9(a)comcast.net> wrote in message
>>> news:2cGdnYKPS8_3VVbWnZ2dnUVZ_rWdnZ2d(a)giganews.com...
>>>>
>>>>
>>>> I am saying, and have said several times before, that the people I am
>>>> talking about are not those who are disabled to the extent that they
>>>> find it impossible to work. I never wanted to cut these people
>>>> off.....As a matter of fact, I would like to cut off the other 98% (a
>>>> good statistic) who have all their fingers and toes and mental
>>>> capabilities and could work, but don't, and give this money to those of
>>>> whom you speak who can't work for one reason or another. The people of
>>>> whom I speak, who could work but don't, ate (and have been) subsidized
>>>> by the state of California all of my life...<BS rant snipped>
>>>
>>> And the reliable source for your statistics is?
>>>
>>> --
>>> Peter
>> My excellent memory.....Please don't confuse welfare recipients with
>> those on disability.....(although I have issues with the disability funds
>> handling also) My son worked for the state cutting checks for both for
>> around a year, but he worked for Oregon, and not California.
>
>
> I requested a RELIABLE AND VERIFIABLE source.
> Obviously, all you can do is cite bull turds
>
> --
> Peter
What you, "request" and what I am willing to work to deliver are two very
different things......I know what I know. You may do your own research to
come up with a different figure if you desire, but don't expect me to
deliver it to you.

From: tony cooper on
On Fri, 23 Apr 2010 07:54:17 -0400, "Peter"
<peternew(a)nospamoptonline.net> wrote:

>The customers that were buying these mortgage backed insured securities were
>pension fund managers who were duped into believing they were buying AA
>rated investments. The seller's knew the rating was pure bullshit.

Shouldn't a major pension fund manager be knowledgeable enough about
what he puts his client's money into avoid scams? Shouldn't he be
responsible for checking out the claims of the sellers?

If not, what does he do to earn the big bucks?




--
Tony Cooper - Orlando, Florida
From: Peter on
"tony cooper" <tony_cooper213(a)earthlink.net> wrote in message
news:snd4t5hs0o70au12985asgrfirp5jkol15(a)4ax.com...
> On Fri, 23 Apr 2010 07:54:17 -0400, "Peter"
> <peternew(a)nospamoptonline.net> wrote:
>
>>The customers that were buying these mortgage backed insured securities
>>were
>>pension fund managers who were duped into believing they were buying AA
>>rated investments. The seller's knew the rating was pure bullshit.
>
> Shouldn't a major pension fund manager be knowledgeable enough about
> what he puts his client's money into avoid scams? Shouldn't he be
> responsible for checking out the claims of the sellers?

Yes!

>
> If not, what does he do to earn the big bucks?
>
Great question. They relied heavily on the rating firms, which are paid by
the issuers of the derivatives. The rating firms were under pressure to
issue good ratings.
The valuation of these derivatives is so complex that few really can
understand the methodology. Just today I heard on the radio that there are
investigations pending into the rating firms.

To answer your question, of course they should have looked behind the
ratings, but they didn't. They had no way of knowing about the secret deals
on the back end.
Think how attractive AAA rated, insured mortgage backed securities, is what
they bought. They never asked:
What mortgages; what is the ratio of default in the packages; what percent
of the real value of the property covered by the mortgages; what is the
total dollar value of the issue; are the reserves of AIG sufficient to cover
potential losses.
To add to the mix, Lehman falsified its books.
In summation, no adequate due diligence was done.

--
Peter