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Cramer is squeeky and annoying
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
M.
Simms
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Wednesday, September 18, 2002 8:39
PM
Subject: [RT] I called it first !!!
CNBC's Kudlow and Cramer last night (Wed): mentioned JP
Morgan rolling overin his grave !!!> -----Original
Message-----> From: M. Simms [mailto:prosys@xxxxxxxxxxxxxxxx]>
Sent: Tuesday, September 10, 2002 9:07 PM> To: <A
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx>
Subject: RE: Re[6]: [RT] Money supply charts>>> That's
the problem.....banks are no longer banks.....because of government>
regulations.>> JP Morgan is rolling over in his
grave.>> > -----Original Message-----> > From: Jim
Johnson [mailto:jejohn@xxxxxxxxxxx]> > Sent: Tuesday, September 10,
2002 7:16 PM> > To: M. Simms> > Subject: Re[6]: [RT] Money
supply charts> >> >> > Hello M.,>
>> > I don't know what the default rates are but it
doesn't matter. if> > you have money and have several things you can
do with it (lend it to> > A, lend it to B, invest it, put it in a
mattress) you will do whatever> > you think is "best". I
suggest best is defined differently for each> > "agent" but the
banks in general must all look at the options and be> > concluding
something makes more sense from a risk/reward than> > commercial
lending. Otherwise, you are implying that banks should> > lend
to commercial borrowers regardless of their assessment of> >
risk/reward.> >> > You can't blame the banks (unless they
are doing something illegal).> > As it stand they are simply
participating in a free economy like all> > of us. Now one
could fault the policy makers/legislators for allowing> > banks to
move into other areas of finance. You asked before "what> >
function do they perform?" Seems to me their function is to use
the> > assets they have in the best interests of their stakeholders
(owners,> > employees, etc.) the question you might ask is
"why is a function> > going unperformed in this economy?"
Banks are under no legal or moral> > obligation to perform a
function just because you may feel it should> > be performed.
I think changes in legislation has allowed banks to> > perform other
functions which they apparently see as in the better> > intersts of
their stakeholders.> >> >> > Best
regards,> > Jim
Johnson
mailto:jejohn@xxxxxxxxxxx> >> > --> > Tuesday,
September 10, 2002, 6:44:41 PM, you wrote:> >> > MS>
But are the DEFAULT RATES that high statistically ?> > MS> I had
always thought they were in the 5-10% range...no ?> >>
>> > >> -----Original Message-----> > >>
From: Jim Johnson [mailto:jejohn@xxxxxxxxxxx]> > >> Sent:
Tuesday, September 10, 2002 12:13 PM> > >> To: M.
Simms> > >> Subject: Re[4]: [RT] Money supply charts>
> >>> > >>> > >> Hello M.,>
> >>> > >> I have a feeling those borrowers have
already maxed out their credit> > >> cards. Somebody is
paying that price for money. Says to me the risk> > >>
premium in lending is very high. that's why they call this> >
>> "sub-prime" lending. would you lend me money at say 3%
over> your cost> > >> is you thought the chances were
50/50 I pay it back? 60/40? etc. So> > >> its
about supply (seems to be money around), demand (don't know but I> >
>> assume there are willing borrowers), and terms. its the latter
that> > >> is the sticking point. I don't see it as
greed or avarice as Ira> > >> suggests. It's just
prudence. Am i greedy because I won't> take out a> >
>> long position in the NDX with half my wealth? No. its an
imprudent> > >> risk that my stakeholders (me, wife, kids)
won't stand for.> > >>> > >>> >
>> Best regards,> > >> Jim
Johnson
mailto:jejohn@xxxxxxxxxxx> > >>> > >>
--> > >> Tuesday, September 10, 2002, 11:50:10 AM, you
wrote:> > >>> > >> MS> With an inflation
rate of 1-2% and long term rates at 4-5%,> > >> MS> that
16% is analogous to Mafia extortion rates of the 1930's.> >
>>> > >> MS> I see no advantage compared to credit
card rates of 18% that> > >> don't require> >
>> MS> that collateral....> > >> MS> am I missing
something here ?> > >>> > >> >>
-----Original Message-----> > >> >> From: Jim Johnson
[mailto:jejohn@xxxxxxxxxxx]> > >> >> Sent: Tuesday,
September 10, 2002 10:16 AM> > >> >> To: M.
Simms> > >> >> Subject: Re[2]: [RT] Money supply
charts> > >> >>> > >> >>>
> >> >> Hello Mark,> > >> >>> >
>> >> In theory (as in Michael Porter) if there was
less-risky> > profit to be> > >> >> had in
business lending someone would quickly fill the> void. As
it> > >> >> stands they apparently see profit with less
risk in other> > areas. Many> > >> >>
businesses have shown themselves to be less than great bets--big> >
>> >> plans, fancy accounting, bubble-driven optimism all
around.> > Would you> > >> >> lend money
to a business right now? Or at what rate and at what> >
>> >> level of collateral? Met a guy at the gym the other
day.> He lends to> > >> >> small
businesses--takes mortgage on the house at 16%,> collateralizes>
> >> >> every piece of personal property. That's the
picture of> risk/reward> > >> >> today in
commercial lending I guess.> > >> >>> >
>> >>> > >> >>> > >>
>>> > >> >> Best regards,> > >>
>> Jim
Johnson
mailto:jejohn@xxxxxxxxxxx> > >> >>> > >>
>> --> > >> >> Tuesday, September 10, 2002,
9:43:39 AM, you wrote:> > >> >>> > >>
>> MS> This is interesting.....since Banks aren't lending
anymore> > >> >> for businesses to> > >>
>> MS> expand, what function do they perform ?> > >>
>> MS> Man, this really smacks of a "just like Japan"
condition.> > >> >>> > >> >>
>> -----Original Message-----> > >> >> >>
From: Daniel Goncharoff [mailto:thegonch@xxxxxxxxxx]> > >>
>> >> Sent: Tuesday, September 10, 2002 12:32 AM> >
>> >> >> To: realtraders@xxxxxxxxxxxxxxx> >
>> >> >> Subject: Re: [RT] Money supply charts> >
>> >> >>> > >> >> >>>
> >> >> >> Actually, the lack of CP issuance says more
about the level> > >> of fear of> > >>
>> >> more corporate surprises. Remember that with CP, the bank
that> > >> >> >> underwrites it has the default
risk. These days, who is> > >> going to take> >
>> >> >> that risk?> > >> >>
>>> > >> >> >> For the historical
perspective that the collapse of Penn> > >> Central in
the> > >> >> >> early 70s (IMS) nearly brought
down Goldman Sachs.> > >> >> >>> >
>> >> >> Regards> > >> >> >>
DanG> > >> >> >>> > >> >>
>> "M. Simms" wrote:> > >> >> >>
>> > >> >> >> > Wow - Commercial Paper
activity......lowest in more> > than a decade.> > >>
>> >> > That kind of says it all as far as overall business
activity.> > >> >> >> >> > >>
>> >> > > -----Original Message-----> > >>
>> >> > > From: Terry B. Rhodes
[mailto:trhodes3@xxxxxxxxx]> > >> >> >> > >
Sent: Monday, September 09, 2002 11:40 AM> > >> >>
>> > > To: realtraders@xxxxxxxxxxxxxxx> > >>
>> >> > > Subject: Re: [RT] Money supply charts> >
>> >> >> > >> > >> >> >>
> >> > >> >> >> > >> >
>> >> >> > > > We haven't seen an
update of your money supply chart on> > >> >> >>
> > realtraders in awhile. Could you publish an updated> >
>> chart? Thanks.> > >> >> >> > >
>> > >> >> >> > >> > >>
>> >> > > You can view money supply charts here> >
>> >> >> > >> > >> >> >>
> > <A
href="http://www.martincapital.com/charts.htm";>http://www.martincapital.com/charts.htm>
> >> >> >> > >> > >> >>
>> > > regards,> > >> >> >> >
>> > >> >> >> > > tbr> >
>> >> >> > >> > >> >> >>
> >> > >> >> >> > > To unsubscribe
from this group, send an email to:> > >> >> >>
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx> > >>
>> >> > >> > >> >> >> >
>> > >> >> >> > >> > >>
>> >> > > Your use of Yahoo! Groups is subject to>
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> >> >> >> > >> > >> >>
>> > >> > >> >> >> > >>
> >> >> >> >> > >> >> >>
>> > >> >> >> > To unsubscribe from this
group, send an email to:> > >> >> >> >
realtraders-unsubscribe@xxxxxxxxxxxxxxx> > >> >>
>> >> > >> >> >> >> >
>> >> >> >> > >> >> >> >
Your use of Yahoo! Groups is subject to> > >> >>
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>>> > >> >> >>> > >>
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>>> > >> >>> > >> >>>
> >> >>> > >> >>> > >>
>>> > >> >> MS> To unsubscribe from this group,
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> >> >>> > >> >>> > >>
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> >>>> > >>>> >> >>
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