TV presenter..is an ignorant as_hole. He supports the Neocons and more war. In case it's not coming across over there. Fannie Mae and Freddie Mac just did what all the other failed firms did. The shareholders wanted it. They deregulated everything the Republicans wanted. I suspect it was the same in the UK. We are hopeful but ignorant Americans blinded by "truthiness". Our media is not out for truth but to make money at any cost. Even at the cost of truth.
It seems to me that Barney Frank was in a very difficult position at the time he made those comment.
This is because at the time he said that Freddie and Fanny are still trading and trying to use their market capitalisation to raise funds against. If Frank had told the media that this was a dead horse of a company, and it had no future looking forward, then what little hope remained would have vanished as the share price plummeted. He would then have taken the blame for breaking a weakened company with careless comments.
Instead he told the same hopeful lies everyone involved in the politics of this situation was saying (Paulson & Bush included), that this company was viable.
I was more amazed that he risked saying this wasn't a good investment opportunity as even this could be construed as damaging Freddie and Fannie's share price.
Cutting through the bullshit of this interview though, the interviewer knows why he had to say it was viable, Frank himself knows why he had to say Freddie & Fannie where viable, and us as viewers know why we get lied to in this situation.
On this basis this interview seems a little unfair. No one made anybody purchase share in this company, and quite frankly anyone who did decide that in these circumstances they should make this their investment choice must have been insane, with or without helpful advise from politicians.
The only people looking to purchase at this point where bargain hunters thinking they where getting shares that should be worth $27, at rock bottom prices. The greed of people making a choice like means they deserve to lost their money, they are after all the very people being blamed for this excessive credit binge in the first place.
Unlike the interviewer I won't be losing any sleep over stupid investments in that situation. Neither would I accept that 8 years of credit binging could be blamed on a person in the position of oversight for less that 18 months.
Finally, as Franks comments mirrored those of Henry Paulson and Fox's beloved President Bush, can we expect that they would receive the same shameful treatment when they appear on Fox news - fat bloody chance is the simple answer. No, that lack of respect is reserved only for 'dirty' leftwing Democrats.
4 comments:
Jeremy Paxman: you're fired. Bill O'Reilly: you're hired. I love Fox, and it beats the Beeb everytime. That was a fun piece of TV!
TV presenter..is an ignorant as_hole. He supports the Neocons and more war. In case it's not coming across over there. Fannie Mae and Freddie Mac just did what all the other failed firms did. The shareholders wanted it. They deregulated everything the Republicans wanted. I suspect it was the same in the UK. We are hopeful but ignorant Americans blinded by "truthiness". Our media is not out for truth but to make money at any cost. Even at the cost of truth.
It seems to me that Barney Frank was in a very difficult position at the time he made those comment.
This is because at the time he said that Freddie and Fanny are still trading and trying to use their market capitalisation to raise funds against. If Frank had told the media that this was a dead horse of a company, and it had no future looking forward, then what little hope remained would have vanished as the share price plummeted. He would then have taken the blame for breaking a weakened company with careless comments.
Instead he told the same hopeful lies everyone involved in the politics of this situation was saying (Paulson & Bush included), that this company was viable.
I was more amazed that he risked saying this wasn't a good investment opportunity as even this could be construed as damaging Freddie and Fannie's share price.
Cutting through the bullshit of this interview though, the interviewer knows why he had to say it was viable, Frank himself knows why he had to say Freddie & Fannie where viable, and us as viewers know why we get lied to in this situation.
On this basis this interview seems a little unfair. No one made anybody purchase share in this company, and quite frankly anyone who did decide that in these circumstances they should make this their investment choice must have been insane, with or without helpful advise from politicians.
The only people looking to purchase at this point where bargain hunters thinking they where getting shares that should be worth $27, at rock bottom prices. The greed of people making a choice like means they deserve to lost their money, they are after all the very people being blamed for this excessive credit binge in the first place.
Unlike the interviewer I won't be losing any sleep over stupid investments in that situation. Neither would I accept that 8 years of credit binging could be blamed on a person in the position of oversight for less that 18 months.
Finally, as Franks comments mirrored those of Henry Paulson and Fox's beloved President Bush, can we expect that they would receive the same shameful treatment when they appear on Fox news - fat bloody chance is the simple answer. No, that lack of respect is reserved only for 'dirty' leftwing Democrats.
That was irony, I assume.
The first comment, about Fox News, is harder to call. I'm hoping that was even more ironic. If so, well done, you nearly had me.
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