Another reason not to trust Free Enterprise

Another reason not to trust Free Enterprise

Postby Jack Bennest » Mon Sep 15, 2008 6:05 am

A lot of people are from the right of the political spectrum, hate unions, socialists, democrats, coops, mixed economy etc.

But can you explain the stupidity and utter greed shown in this example
of market forces unleashed on the great unwashed.



NEW YORK: Global markets plummeted on Monday after investment bank Lehman Brothers filed for bankruptcy protection, rival Merrill Lynch agreed to be taken over and the Federal Reserve threw a life line to the battered financial industry.

As a deepening crisis took new, bigger victims, The U.S. Federal Reserve said for the first time it would accept stocks in exchange for cash loans and 10 of the world's top banks agreed to establish a $70 billion (39 billion pound) emergency fund, with any one of them able to tap up to a third of that.

On a black Sunday for Wall Street, frantic attempts to find a rescuer for Lehman failed, and troubled insurer American International Group asked the Fed for a lifeline, according to news reports.

The events signal a seismic shift in Wall Street's power structure with big name investment banks biting the dust and major banks like Bank of America and JPMorgan Chase becoming the survivors.
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Postby Cliff Bashly Kinkade » Mon Sep 15, 2008 1:08 pm

I move that this area be renamed "Jack's Non Sequitur Followed By a Cut and Paste".

My Carp man you promised a rant - so get ranting!
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Postby Jack Bennest » Mon Sep 15, 2008 1:26 pm

Biff you have no idea what I promised.


The name of the category was not made by me and doing anything
once a morning other than my 'regular' devotions at the throne
is quite difficult.

Since you have no comment on the largest meltdown on the stock market since the great depression indicates to me - you must have something else on your mind.

Carp?
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Postby slowhand » Mon Sep 15, 2008 1:33 pm

Can we get Kat assigned as referee to ensure there is no hitting below the belt? :naka:

I'll volunteer to sell tickets as a fundraiser for PSR. Or are the rumours of foreclosure on the PSR CEO's lawnchair/bed incorrect?
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Postby Cliff Bashly Kinkade » Mon Sep 15, 2008 1:37 pm

CARP is always on my mind, and you'd be wise to let the spirit into your heart.

And because of my belief in CARP I have no fear for the meltdown. Hell if Brittney Spears can bounce back from one, so too can the global economy.

Did Jon over promise on your behalf by naming this category? If so, it's very Calgary Sunian (Jungian?) of him.
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Postby Cliff Bashly Kinkade » Mon Sep 15, 2008 1:39 pm

Slowhand - you must have me confused with someone else. I'm not looking for fight, I was just looking for Doggy to live up to his POP... which I now understand wasn't his.
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Postby radiofan » Mon Sep 15, 2008 1:41 pm

Jack was carping about being retired and how he had nothing to do each morning but to wait for the prunes to kick in.

His first rant got some response, so I suggested giving him a space to rant til the cows come home.

Still no sign of the cows.

Maybe I'll have to reword his colum's description.

(I'll see if I can find one somewhere that I can just cut and paste)
Those who danced were thought to be quite insane by those who couldn't hear the music.
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Postby Steve Sanderson » Mon Sep 15, 2008 2:00 pm

radiofan wrote:Jack was carping about being retired and how he had nothing to do each morning but to wait for the prunes to kick in.

.........

Maybe I'll have to reword his colum's description.

(I'll see if I can find one somewhere that I can just cut and paste)


May I suggest...


Jack's Post Morning Grunt

:shock:
Last edited by Steve Sanderson on Mon Sep 15, 2008 5:20 pm, edited 1 time in total.
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Postby Jack Bennest » Mon Sep 15, 2008 2:29 pm

sandclan - I knew I could blame the change on someone.....

and Biff I must be missing something POP to me is soda or %ofprecip

and if we keep this up our number of posts will catch up to the one liners on Pisser commenting on the Big Announcement promise that never materialized.... and

what happened to Dick 'Draw' and 'Nuts' Mahoney - were they not going to duke it out on the the Message Board as to who knows more about broadcasting

now back to our regular programming - Carping with Biff
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Postby kat » Mon Sep 15, 2008 3:15 pm

radiofan wrote:Jack was carping about being retired and how he had nothing to do each morning but to wait for the prunes to kick in.



Hey Doggie

I've got a great rhubarb patch here. Let me know how much you want, it'll get things moving for ya!

Your favorite feline :)
The world has two kinds of people. Cat people and idiots.
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Postby Jack Bennest » Mon Sep 15, 2008 3:17 pm

Is that Crescent Beach rhubarb?
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Postby Cliff Bashly Kinkade » Mon Sep 15, 2008 3:23 pm

Promise
Of
Performance

GAWD DAWG I thought you knew everything!
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Postby radiofan » Mon Sep 15, 2008 3:26 pm

Thanks for enlightening TD there Biff .. I guess he wasn't listening when Bill Hughes told him about POP's and his dealing with the BBG and the CRTC.
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Postby Jack Bennest » Mon Sep 15, 2008 3:44 pm

I started in radio was the CBC was in charge - there were no rules other than shirt and tie.

Have a pop, have a pop, have a pop on me....
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Postby jon » Mon Sep 15, 2008 3:51 pm

Top Dog wrote:I started in radio was the CBC was in charge

Let's do the arithmetic. TD went to 2 years of broadcast school, presumably right after high school, so he would have turned 20 in 1958 or earlier, as the BBG took over from the CBC as Canada's Broadcast Regulator in November 1958.

So, TD is at least 70 years old now. About time he retired!
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