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[bob ford <bobford79 AT yahoo.com>]

You should hear Jim Rogers talk about these people, Paulson, the old honchos 
at Goldman sachs, the investment banking / hedge fund managing group, as a 
whole.

  And, remember, Rogers has, for years, been better at the game than any of 
them.  He says that as a group they not only are immoral, but that they are 
not particularly bright.  

He said that Paulson and Bernake are rewarding their failure buddies at 
Goldman Sachs, etc; by giving them money fromm people who actually were 
successful.  He said that what should have happened was that GS, and many 
other banks and hedge funds should have failed and then been bought for 
pennies on the dollar by the truly succesful bankers and new investors who 
hadn't gambled their money away

.  But, there were too many people who eat lunch with politicians and 
columnists at the NYT to allow that to happen.  We reward and pretend that 
people are smart simply because of a piece of paper that states that 
attending class on a particular piece of ground , and because their daddy or 
uncle was in the business before them.  Most of these guys are not as smart 
as you ....bobford



_________________________________________________________________________


--- On Mon, 11/3/08, Don Bowen <don.bowen AT earthlink.net> wrote:

> From: Don Bowen <don.bowen AT earthlink.net>
> Subject: Re: [Homestead] Bailout was: Electricity
> To: homestead AT lists.ibiblio.org
> Date: Monday, November 3, 2008, 3:26 PM
> Paulson and Bernanke are worse than 18 year olds away from
> home the first
> time with the first paycheck.
> http://www.kansascity.com/news/nation/v-print/story/870297.html
> 
> "After a bruising battle to get it through a doubting
> Congress, the Bush
> administration's $700 billion Wall Street rescue plan
> has morphed into
> something else entirely. The Emergency Economic
> Stabilization Plan - signed
> by President Bush on Oct. 3 - ostensibly began as a plan to
> purchase
> distressed mortgages and other bad assets. However today it
> involves the
> government taking direct equity stakes in banks, and at
> least one bank used
> the money to buy a rival."
> 
> Don Bowen  KI6DIU
> http://www.braingarage.com/Dons/Travels/journal/Journal.html
> 
> 
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