Charlie Rose

Isaac  10/07/2008 08:06 PM Report

Mr Amaral, God Bless you. You don’t know what you are talking about. The Brazilian currency value to the dollar is roughly where it was in early 1999 and the same place it was in early 2002. The US dollar in relation to the European Currency is roughly where it was in July of 2007. The US Dollar measured in a basket of currencies is roughly where is was in the fall of 1992, most of 1995, and early 2005……….Quit lying to Charlie Rose’s audience. They are quite gullible and naïve and they might actually believe your nonsense. Your views on Buffett are equally unhinged. Don’t take this personally. You are a typical Charlie Rose viewer.

christian  10/07/2008 06:31 PM Report

Charlie, what's about interviewing congressmen who voted AGAINST the bill? I'm sorry, but you are so biased, this has nothing to do with objectice sincere journalism.

Marcus A Karrick  10/07/2008 02:22 AM Report

All I can do is post this:

http://www.consciousmedianetwork.com/video/100608.htm

the monetary system is SLAVERY...listen in the future for the VENUS PROJECT...we are running out of time.

Daniel Brunelle  10/07/2008 01:34 AM Report

i hope we can avoid racist comments in the future.

Neil MacCallister  10/06/2008 10:59 PM Report

Did Sen. Barack Obama, and the Democrat controlled Congress, just buy an election for $700 billion??

Last year, all Sen. Obama and all the other Democrats talked about was a 'quagmire' in Iraq. The McCain and Petraeus 'surge' finally got accepted, and Iraq has found hope.

McCain's poll numbers went up with his success, so Dem's and Obama turned instead to 'Youth, and Change' to fight him. In response, McCain selected Gov. Palin. She was loved, and McCain actually pulled into the lead in the polls!!

Now, Sen. Obama and the Dem's were angry! Wall Street (see: Warren Buffett) had already said they preferred to deal with Obama rather than McCain for the decisions Wall Street was hoping to get from the next President. So, the next thing you know (..2 weeks ago!!) Wall Street firms start declaring 'Emergency', and filing bankruptcies!

'The economy is in shambles!!' Wall Street cries. Sen. Obama says 'Only I, and my Democrat friends in Congress can save you, America!!'

Congress pays Wall Street $700 billion for their convincing performance, ..and Obama's poll numbers start to rise once more!

Isn't America great?

Steve Brown  10/06/2008 09:20 PM Report

Oh, there is nothing like a couple of Congressmen acting as though some sort of resolution is in the air (they looked like a couple of Boy Scouts). Of course, we are now hearing there will be significant post-bailout trauma we did not fully expect. The numbers were released on the multi-millions of dollars the investment banks spent on campaign contributions to both parties. Was it a bailout or was it payback? I agree with the other posters ... put your helmet on!

TABS  10/06/2008 05:51 PM Report

When is it ya wana pay attention to TABS? Very simply this has been a game of musical chairs starting decades ago. Everybody has been up and dancing around without regard for having a chair to sit down on when the music stops. Back a decade or so ago the gentlemen who were running the show at least had an eye out for a chair to sit down in in case catastrophe should hit and the music should suddenly stop. They could remember when the music had stopped before. With the current generation of leadership whether it be Political, regulatory, or business they never even thought about a chair to sit down on if the music should stop. Even those that did think in those terms had sawed off one leg of their chairs. So today the world is in a free fall situation without a chair to sit down on. Will it all have to hit the floor eg go to zero before stabilization occurs, who knows? The problem is that the Boomers who are now in charge never even thought a catastrophe could take place, Why is that so, BECAUSE THEY HAVE NO COLLECTIVE MEMORY OF EVER HAVING BEEN TROUGH ONE BEFORE!

Marilyn  10/06/2008 03:55 PM Report

Holy Global Crash! What's even more frightening than being controlled by the elite? Finding out even THEY have no control on this freefall into the abyss. Buckle up, we are about to "deleverage".

John Maszka  10/06/2008 03:41 PM Report

This bailout is just one more example of the indivisible handjob stroking irresponsible CEOs and CFOs with billions so that they can run the American economy even further into the ground. So much for Keynesian economics. If the goal is to stimulate the economy, why not give the money directly to the American taxpayer? A bird in the hand is worth two in the bush administration.

Marilyn  10/06/2008 02:15 PM Report

sock puppet...watched on this American Life perhaps updated version with discussion on CDS. Great resource, as in "Economic weapons for mass destruction for dummies". Also SNL take on this hilarious and too true! From Bill Moyers sister site, Earth on Edge, I insert this from year 2001:

The Millennium Ecosystem Assessment

Pilot Analysis of Global Ecosystems | EarthTrends

"Unless we use the knowledge we've gained to sustainably develop Earth's ecosystems, we risk inflicting ever greater damage on them with dire consequences for economic development and human well-being."

— from the foreword to World Resources 2000-2001

Why here? Because as global fatcats struggle to bail out this toxic system, we are diverted yet again from a better mission. Now THAT'S pathetic!

allynh  10/06/2008 12:42 PM Report

Check out the transcript to the 60 minutes episode from Sunday night. If they had shown this before congress voted, would they have passed the bailout.

_____________________________________________________________________________________________________ ________

A Look At Wall Street's Shadow Market Oct. 5, 2008 - http://www.cbsnews.com/stories/2008/10/05/60minutes/printable4502454.shtml#

Iago  10/06/2008 12:34 PM Report

Definitely a bailout that rescues the guilty so that they can come back and commit the same slime.

====================

<a href="http://www.nanourl.ro/uj891">Funding Available For Any Business, No Banks, No Loans</a>

sock puppet  10/05/2008 03:36 PM Report

Marilyn, TABS, Preston and all visitors to this site, the below podcast link to NPR's "This American Life," is a real lucid revelatory discussion about the bailout. It discusses a stock injection plan as well as the straight purchase of the toxic mortgages at an "indeterminate" price. Unfortunately it doesn't include the part re Credit Default Swaps (CDS), which seemed as instrumental in the collapse as subprime mortgages. Would like your respective reactions if inclined. -------------------------------------------------------------------->

http://www.npr.org/blogs/globalpoolofmoney/images/2008/10/podcast10.03.mp3

sock puppet  10/05/2008 02:29 PM Report

Chawley, aka Preston et al, it's ok since behaving on this forum would negate it's purpose, so I'll remain woefully unemployed but free for awhile longer. Nice thought though, thanks.

TABS  10/05/2008 02:26 PM Report

This is one for Barrack aka Barry:..............The joke is on Barry Obama, since the fall of Lehman and the House failing to pass the "BAILOUT BILL" the old financial and political system/dynamic is DEAD. That was the moment of change, and Barry didn't have anything to do with it. Barry and John don't even know it is dead yet! Barry's thinking and solutions are past tense solutions. THEY NO LONGER APPLY TO THE NEW DYNAMIC THAT IS EMERGING. So in a moment of time events have made Barry a reactionary agent of the old system, and that is the joke that is on him and his supporters............One can not resist, and what did Barry do but fiddle and do nothing but sit back while Washington burned. At least McCain made an attempt at putting the fire out.

sock puppet  10/05/2008 02:23 PM Report

Damn Marilyn there's more to you than the average CR poster. Love your perceptions and the way they're expressed. And your humanity as expressed in our inhumanity to animals - making the same to humanity that much easier (a la holocausts, Darfurs, on and on ad nauseam).

Billy  10/05/2008 02:16 PM Report

And on that note - "Sing us a song you're the piano man, sing us a song tonite. For we're all in the mood for a melody and lah la la la la lahhh..."

Marilyn   10/05/2008 11:39 AM Report

TABS...too true, indentured servants do come here to vent, not only prisoners of our ideology, but of the imbalance of perceived worth in every form of government. It's just a pinhole in the tea kettle to let out steam, lest we all go truly bonkers. So many reasons we've been relegated to fragmented net-venting and the trash can rather than a force to be reckoned with. Passion is the energy of humankind, for better or worse. We have incredible intellect and technology, yet we seem so lost within the constraints of politics. This economic crap saps us of the joy of living, which is hard enough to come by in the natural world. Finding kinship here with sock puppet, Marena, and so many others, sharing a jaded laugh or two, makes up a little for the sad fact that our USA is headed into a cold wet dark age, (complete with brand new coliseums yet!). So you, TABS, can be Spock, it's all part of the game.

Marilyn   10/05/2008 11:38 AM Report

TABS...too true, indentured servants do come here to vent, not only prisoners of our ideology, but of the imbalance of perceived worth in every form of government. It's just a pinhole in the tea kettle to let out steam, lest we all go truly bonkers. So many reasons we've been relegated to fragmented net-venting and the trash can rather than a force to be reckoned with. Passion is the energy of humankind, for better or worse. We have incredible intellect and technology, yet we seem so lost within the constraints of politics. This economic crap saps us of the joy of living, which is hard enough to come by in the natural world. Finding kinship here with sock puppet, Marena, and so many others, sharing a jaded laugh or two, makes up a little for the sad fact that our USA is headed into a cold wet dark age, (complete with brand new coliseums yet!). So you, TABS, can be Spock, it's all part of the game.

Chawly Rose  10/05/2008 08:57 AM Report

Sorry about that sock, but I've just been informed there's no room in the budget for that. Hope you'll forgive my mistake.

Chawly Rose  10/05/2008 08:33 AM Report

Dear Sock Puppet, if I give give you a job? Will you promise to behave?

sock puppet  10/05/2008 01:36 AM Report

TABS - Would be disappointed if Charlie reads any of these (mostly inane) comments. Perhaps a staff member lightly peruses them but to no real avail. People with time to spend or use their time in this manner are really not worth the candle. Take me for example, I intentionally allow my emotions to infuse this exercise - otherwise no advantage would accrue. Like when I call for Paulson et al to be incarcerated that's not remotely probable but it sets a mood (for me if no one else) and evokes the depth of how badly we've fallen off the rail. We've been seriously plundered as a nation and the wise guys will retire to the Bahamas and never look back - yea and even feel entitled in their singular arrogance. So the injustice makes me vent my spleen here - impotently and to no avail. It's a game with words and a keyboard. Nothing more. To believe it's something more is being too ingenuous.

sock puppet  10/05/2008 01:05 AM Report

The Saturday Night Live writers illustrated a better grasp of the inherent double dealing evil of the $850 billion bailout than Congress. Another good analysis on NPR's This American Life.

JAY BURCH  10/04/2008 07:20 PM Report

JUST WANTED TO SAY THAT INTERVIEW WITH DEXTER FILKINS WAS INSPIRING,WHAT A BEAUTIFUL,HUMBLE MAN.THE CONVERSATION REMINDED ME THAT WE ALL HAVE EYES THAT SEE A CONSTANTLY CHANGING WORLD UNFOLD AROUND US,AND EVEN AS THIS BAIL OUT AND ELECTION DRAMA UNFOLDS,WE CAN ONLY DO SO MUCH,PREDICT SO MUCH,BUT WE MUST BE BRAVE ENOUGH TO KEEP SEEING WITH FRESH EYES BOTH THE YIN AND YANG,THE COMEDY AND TRAGEDY .OBOMA HAS GAINED BOTH UNEXPECTED POPULARITY AND A PRESIDENTIAL NOMINATION SIMPLY BECAUSE HE SPARKED A NEW HOPE THAT 'CHANGE' MIGHT BE POSSIBLE,BUT THAT SPARK SPRANG FROM INDIVIDUAL HEARTS AND MINDS.IF THAT HOPE AND YEARNING HAD NOT BEEN SO HUGE AND SUCH A SHOCK TO BOTH THE LEFT AND RIGHT AND WHAT ''THEY EXPECTED '' ...WE WOULD NOT BE HEARING ANY TALK OF '' CHANGE ''... NONE,AND NONE-AT-ALL FROM REPUBLICANS...WHO SIMPLY PARROT OBOMA'S SPEACHES NOW AND IGNORED PUBLIC OUTCRY FOR 8 YEARS....WE HAVE ALREADY SEEN A SHIFT IN THE PAST FEW MONTHS...SO I HOPE PEOPLE KEEP THIS IN MIND ...THAT PEOPLE HAVE CAUSED THE WORD ''CHANGE'' TO ENTER THIS ELECTION,AND PEOPLE CAN CHANGE ANYTHING BY SPEAKING OUT CLEARLY AND DEMANDING MORE .IT MAY TAKE TIME,BUT WE MUST KEEP DEMANDING IT WITH OUR VOICES AND OUR DOLLARS.

Chawly Rose  10/04/2008 06:31 PM Report

Dear TABS, now I see your point. But financial managers have "other people's money" "to sell" and or "buy". Journalists just want other people's "attention". And if they are "way out there" left or right, it will be pretty obvious. If you can't tell, if they lean conservative or liberal, that means they're doing a pretty good job of being "objective"... And an Amen to that.

TABS  10/04/2008 06:14 PM Report

MR Ricardo: As stated before, this Comment Board acts as an overnight rating service to both Mr Roses guests and to himself. This is a way of keeping in touch with what people think of the show and its content. Your are more than likely right, Mr Rose does not go through the lists of comments. However his moderators and guests assistants do go through and view what is being said if only briefly. One might say this Board is like sticking your finger in the wind and seeing which direction the wind is blowing.................Also as stated before 90% of the content on this Board is by people who are emotional prisoners to their own ideology and as such it blinds them to reality. Most of what appears on this Board is simple venting, and as such is looked at and forgotten. The remaining 10% does go somewhere, where that is, well one can only guess? Maybe only as far as the round file beside the desk...................................BTW: Mr Rose is good at what he does, otherwise TABS would not be commenting here.

Chawly Rose  10/04/2008 06:13 PM Report

Dear Mr. Amaral, as a matter of fact, I DO read these comments. I don't JUST read these comments. My big bug eyes and slobbering mouth DROOL over these comments. As I plot to over-throw and take-over the world before John McLaughlin does... Just between me and you. John McLaughlin, IS SICK. SHHHHH! Don't tell anybody.

TABS  10/04/2008 05:55 PM Report

Dear Chawly: When Financial Managers appear on PBS Nightly Business Report they are asked to disclose any interest that they have in the stocks that they talk about. So why not the same for journalists, a little articulation about their own political redispostions not only helps the viewer understand where the journalist is coming from. But it also helps the journalist in being able to see his own bias, and thus be able to make a more dispassionate analysis.

Ricardo C. Amaral  10/04/2008 04:36 PM Report

Reply to Tabs – This comments section is an outlet for viewers of The Charlie Rose to exchange opinions about the guests that appear on that show on a daily basis. I doubt that Charlie Rose himself reads these comments, he must be a very busy man and he probably has one assistant that reads the information on a daily basis and just let Charlie know if the viewers liked the interview or not.

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Regarding the $ 850 billion dollar Swindle that Congress just approved I understand that the world are full of fools that is why the United States has been able to waste 89 percent of world savings year after year but now the free lunch is about to end and the world is in the process of realizing that the US dollar is as good as Confetti and is becoming very fast a worthless currency.

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I advised my readers on Brazzil magazine about 4 years ago for them to move their assets from US dollar to euros or a more sound currency at that time Brazilians had close to $ 200 billion dollars invested in US dollar assets. Since then the US dollar lost 40 percent against the real the Brazilian currency, and the US dollar also lost a lot of value against the euro.

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Now talking about a currency that is turning into Confetti as Mr. Buffett says. One of the few people in the financial world that I still trusted was Warren Buffett, someone who I have been following his investments activities since 1969 when I started working for Mr. John M. Templeton.

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After the latest interview of Warren Buffett by Charlie Rose I lost that trust that I used to have regarding Warren Buffett, and I am sure that many intelligent people around the country also lost trust on Mr. Buffett that special night.

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It is no coincidence that Mr. Buffett is the richest man in the United States and during the interview with Charlie Rose he did not beat around the bush since he was straightforward about what he had on his mind, he showed to me that he is a self-serving man that does not miss a great opportunity to make lots of money. Mr. Buffett suggested during the interview that Congress give a blank check to his friend Secretary of Treasury Paulson regarding the $ 850 billion Wall Street bailout.

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Since Mr. Buffett has a lot of cash and the right connections he would be first in line to dig through the toxic waste and get some valuable stuff that is buried on this toxic financial mess. I am sure Mr. Buffett is going to come up ahead on his search for a quick killing.

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Now that the Wall Street bailout has passed in Congress after Mr. Buffett makes a ton of money from his self-serving advise on The Charlie Rose Show people can’t accuse him of being just a self-serving old billionaire and nothing else.

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This is a capitalist country and the richest man in the land is making a hard sell on a popular TV show for Congress to pass a bailout that would help him make a ton of money. He was there to help scare to death the politicians into passing a bailout that he would be one of the major beneficiaries. He was there to promote his self-interest and nothing else.

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What surprised me was Charlie Rose’s appearance on CNBC the Wall Street TV channel in the next morning to promote Warren Buffett’s self-interest position regarding the Wall Street bailout. Usually people get a commission to do this kind of stuff.

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The Warren Buffett interview on The Charlie Rose Show instead of giving Americans a sense of trust in the American financial system, the interview put the spotlight on what is wrong with the American system; greed beyond limits and nothing else.

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Warren Buffett has become a very big disappointment to me since I used to look at him as a symbol of integrity, as someone who you could trust, as someone highly ethical and so forth. And I just realized that was a misperception, an illusion, and a wake up call.

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I also posted the above on the Elite Trader Economics Forum.

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Marena  10/04/2008 03:13 PM Report

AP>>>

Credit markets to Washington: Bailout isn't enough>>>

Friday October 3, 6:24 pm ET>>>

By Madlen Read, AP Business Writer>>>

After House OKs bailout, credit markets tighten on fears the plan isn't enough to help economy.

-------------------------------------

"Nobody knows how it's going to succeed," said Howard Simons, strategist with Bianco Research in Chicago. "IT SEEMS THE AMERICAN PUBLIC HAD BETTER SENSE THAN WALL STREET AND WASHINGON -- the American public said, don't throw good money after bad."

-------------------------------------

>>>I expected you'd be hoisted on your own petard Mr. Rose, I just didn't think it would happen so soon. Notice the date & time of the article. Not even 4 hours after Bush signed the bill.

-------------------------------------

>>>Full Text of Article>>>

AP

Credit markets to Washington: Bailout isn't enough

>>>After House OKs bailout, credit markets tighten on fears the plan isn't enough to help economy.

>>>NEW YORK (AP) -- The credit markets finally got a bailout bill, but the stranglehold hasn't let up -- a troubling sign that lenders and investors believe the package will only be a baby step in the long road to economic recovery.

The credit markets, where companies go to get cash loans, have seized up since the bankruptcy of Lehman Brothers Holdings Inc. and in anticipation of the $700 billion plan initially voted down by the House. The House passed a revised version of it Friday following the Senate's approval earlier this week, but anxiety about its effectiveness kept demand for Treasury bills high and nearly nonexistent for other types of debt.

Overall, market participants have begun regarding the rescue plan as a medicine for what's ailing the financial system, but not a cure-all.

"At best, we can hope that it stems some of the more intense risk from the credit crisis. It prevents things from spiraling out of hand here," said JPMorgan Chase economist Michael Feroli.

Some are worried, though, that the plan will not work at all.

"Nobody knows how it's going to succeed," said Howard Simons, strategist with Bianco Research in Chicago. "It seems the American public had better sense than Wall Street and Washington -- the American public said, don't throw good money after bad."

The Treasury will buy banks' risky mortgage-backed assets in an effort to alleviate investors' worries about the institutions' solvency and free them up to do more lending. Even if those efforts succeed, the effects will be far from instantaneous, and borrowing could remain very expensive for some time. With the economy in such a weak state, lending to consumers and businesses will still appear risky until certain factors -- particularly employment and the housing market -- improve.

The Labor Department said employers cut payrolls by 159,000 in September, the largest loss in more than five years, while unemployment remained at 6.1 percent.

Layoffs are likely to keep piling up if it remains tough to find credit. Spectrum Yarns Inc., a North Carolina textile company, said it closed two plants and laid off 200 workers this week because it got turned down by a North Carolina bank, a New York finance company, and several private lenders.

It could also get even harder for certain individuals to get home loans. Banks have gotten more stringent in their mortgage underwriting, and Wisconsin's affordable-housing agency recently suspended making loans for single-family homes because it was unable to sell tax-exempt mortgage revenue bonds and raise capital.

It's not that financing has completely dried up. For example, Toyota Motor Corp. on Friday offered zero-percent financing on nearly a dozen models to lure customers, who've been having a harder and harder time finding car loans.

But many companies aren't in a position right now to be so aggressive -- particularly banks that have been losing billions of dollars on their mortage assets.

On Friday, the London Interbank Offered Rate, or LIBOR, for three-month dollar loans rose to 4.33 percent from 4.21 percent Thursday. That bank-to-bank lending rate has been rising all week, showing that banks are growing less and less willing to lend out their cash for longer than overnight.

LIBOR is tied to many consumer rates like adjustable-rate mortgages.

In one promising sign, overnight lending has gotten significantly cheaper -- LIBOR for overnight dollar loans plunged to a hair below 2 percent on Friday, the lowest rate in nearly four years, from 2.67 percent Thursday.

That overnight rate is now below the Fed's key bank-to-bank overnight lending rate, known as the target fed funds rate, of 2 percent. It appears that central banks' decision to ramp up their lending to financial institutions over the past couple weeks is having a positive effect.

But that's little solace to borrowers who need a loan for longer than overnight.

Over the past week, the amount of short-term corporate debt known as commercial paper on the market has plunged. And banks and investment firms have borrowed in record amounts from the Federal Reserve's emergency lending facility.

Money market mutual funds, usually the biggest buyers of commercial paper, have run for safety after a money market fund "broke the buck" two weeks ago due to its exposure to Lehman. When a fund breaks the buck, it does not have enough assets to cover every dollar invested in it. Instead of commercial paper, they've been investing in Treasury bills.

"There's really no theme except the theme of survival," said John Spinello, bond strategist at Jefferies & Co., referring to the constricted trading in the credit markets Friday.

The impact of the credit market seize-up has been widespread, affecting individuals, small businesses, large companies and municipalities.

Gov. Arnold Schwarzenegger said Friday California might to take out short-term loans from the federal government if the markets don't loosen up.

Also Friday, YRC Worldwide Inc., one of the nation's largest trucking companies, said it drew down $325 million on a credit line to repay some debt that matures this year and next.

After the House's vote Friday afternoon, the yield on the three-month Treasury bill slipped to 0.50 percent from 0.70 percent late Thursday. There has been no decrease in demand for T-bills, seen as the safest assets around, even though they are offering extremely low returns. The discount rate on the three-month was 0.47 percent.

There was little change in the strained credit default swap market, either, according to data from Phoenix Partners Group. Credit default swaps are essentially insurance policies against bond defaults; when rates are high, it means the market is betting on a higher probability that a company will fail to pay back its loan.

The stock market sank after the House passed the plan, sending investors back into longer-term Treasurys.

The 2-year note rose 1/32 to 100 26/32, with a yield of 1.58 percent, down from 1.62 percent late Thursday.

The 10-year note rose 7/32 to 103 10/32, and yielded 3.60 percent, down from 3.64 percent.

The 30-year bond rose 1 3/32 to 107, and yielded 4.09 percent, down from 4.16 percent.

AP Business Writer Emery P. Dalesio in Charlotte, N.C., AP Business Writer Dan Strumpf in New York, and Associated Press Writer Judy Lin in Sacramento contributed to this report.

sock puppet  10/04/2008 02:58 PM Report

Back on point, Mr Paulson pulled off the biggest heist in history. Quite literally his reward should be immediate incarceration based solely on the fact that he knew what he was doing and the pure dishonesty of it, yet persisted. Translation: "Hey taxpayers there's a great sale on Wall Street if you hurry, they've got bushel baskets of shit heavily discounted because they unwisely increased their inventory to the breaking point even after dumping a lot of it world wide. It's started to recycle through credit swaps of ingeniously packaged bundles of the stuff. Despite being hauled and shredded and any value stripped it still is impregnated with its own special pungency. Hurry! Bring your own nose pincers. The wise-guys will be graciously awaiting, all smiles (giggling actually) and oh so thankful to you and their godfather Paulson."

Chawly Rose  10/04/2008 07:44 AM Report

Dear Mr. TABS, in my opinion, "requiring" people to define themselves with loosely interpreted labels is not a prerequisite for objectivity and understanding. Also, regarding your further criticisms; Do you think it's EASY to have meaningful, public conversations with everyone from Bozo to Hitler to the Pope to Einstein?! You try to make a career of THAT!... Also I want to thank you for being a loyal patron to my efforts. If I can be successful at hypnotizing a few more suckers like you, perhaps I can ditch this lousy job and realize my real dream of starting a "Chawly Rose Cult"... Moo-Wah-Ha-Ha-Ha-Ha-Ha-Ha-Ha-Haaah!!!

hamilton  10/04/2008 06:46 AM Report

“[W\e’re going to go out there as individuals -- but we’re going to play as a team with one heart” – Nick Faldo

At the end of the Ryder Cup 2008 there were Jim Furyk and Miguel Angel Jimenez at the final hole. The win -- Jim Furyk’s putt conceded by Jimenez and Furyk’s concern for Jimenez at the last, was not a show-off media moment.

But it ended with exactly what Nick Faldo had said in the promo (only with 24 players (two teams), not just the 12 players in one team) --

“We’re going to go out there as individuals -- but we’re going to play as a team with one heart” – Nick Faldo

Congratulations on a game well played to the end.

TABS  10/04/2008 06:20 AM Report

Dear Mr Rose....Perhaps it would be helpful if your journalist panelists disclosed their own political biases at the beginning of their segment of the show. That would help allay the great Liberal or Conservative accusations by contributors to this Board. Not only would it help the Journalist with their own attempts at being objective but it would also allow the viewer to better understand the journalists point of view.

TABS  10/04/2008 06:10 AM Report

What do ya mean?...The American People are ignorant! They have been dumbed down by watching Charlie Rose fer Christs sake. Mr Rose has been espousing his "conventional wisdom" for years now, and see where it has got ya......................Now that isn't completely fair to Mr Rose. Mr Rose is a likable guy of relatively average intelligence who subscribes to societies conventions without questioning them. Nothing too out of the box for Charlie, it might upset his digestion. One could really see it during his interviews with Annie Lennox, Joni Mitchell and Neil Young. Ms Mitchell was really putting some blocks of insightful reasoning together when Mr Rose cut her short, also that Basketball Coach guy got cut short on his 7 principles of success. For What? To know about who was going to win the basketball championship last year? What about the guys insight fer Christ sake?..................... Another turn down the sound and say rude things moment was with Alan Alda, two guys in their sunset years trying wrestle with awareness and meaning? Hah, Charlie where have ya been for 60 years, honing the "conventional wisdom?"............... Don't cha know Charlie that there are people who know what the effect of the addition of one word in a sentence has upon the reader or listener? Every decent Poker player knows that everyone has "tells" that give em away, and that goes for your guests as well. For the most part they all spill their guts with a sentence or two during your interviews. That includes the inestimable Mr Baker as well. He was easy, his moment came when he mentioned that his wife says that he has a long memory about those who slight him and his propensity for getting even with them. His wife hell, that is a metaphor for his own awareness of his own short comings........Maybe Mr Rose is where he is at because he is likable and not threatening. His job after all is to let the guest sell whatever agenda it is that they have to sell....However this viewer and Board contributor sometimes does get frustrated and wishes that Mr Rose were more curious, there are after all ways of probing a guest gently and without confrontation to get them to reveal themselves more fully. That Mr Rose is an unexpurgated critique of yourself and show. One would hope that you, Mr Rose can see that this viewer backs up everything said with facts and or reasoning that are readily understandable and verifiable. Thank you Mr Rose for your time.

Ricardo C. Amaral  10/04/2008 05:50 AM Report

Central Banks and the US Dollar

http://www.elitetrader.com/vb/showthread.php?s=&threadid=81958&perpage=6&pagenumber=59

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October 3, 2008 SouthAmerica: On October 1, 2008 I did watch the Charlie Rose Show when he interviewed Warren Buffett.

What called my attention was that if anything Warren Buffett gave the impression that he is almost in PANIC mode. His body language and his appearance gave the viewer the impression that he was stressed out and he was ringing all kinds of alarm bells about the possible collapse of the US economy.

In the last few days he helped bailout Goldman Sacks, and also GE by injecting some cash to keep these companies going.

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Warren Buffett is in favor of this $ 850 billion dollar Wall Street bailout and he was so desperate for this bailout to be approved by the US Congress that at a turning point in the interview Warren Buffett said something completely irrational when he suggested that Congress that Congress should give a $ 850 billion blank check for his friend Treasury Secretary Paulson.

Warren Buffett also implied that all these US government bailouts are going to result in higher inflation here in the US economy. But he forgot to clarify to Charlie Rose and the viewers of that show that one of the consequences of this bailout orgy in Washington D.C. would be the collapse of the US dollar as the rest of the world realizes that the US dollar has turned into Confetti.

US dollar = Confetti

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*****

Today when I saw the front page of The New York Times the two major articles I immediately connected the dots on my mind.

Most Americans have not grasped that there was a powerful subliminal message connecting these 2 stories in more ways than Americans have realized.

Half of the front page covered the current US Wall Street bailout. And the other half of the page had a very interesting article “Life in Zimbabwe: Wait for Useless Money, Then Scour for Food.”

The article said: “As the bankrupt government prints ever more money, inflation has gone wild, rising from 1,000 percent in 2006 to 12,000 percent in 2007 to a figure so high the government had to lop 10 zeros off the currency in August to keep the nation’s calculators from being overwhelmed. (Had it left the currency alone $ 1 would now be about $ 10 trillion Zimbabwean dollars.)

In fact, Zimbabwe’s hyperinflation is probably among the five worst of all time along with Germany in the 1920’s…”

Then inside the newspaper they had another half page about the economic situation in Zimbabwe – they also had pictures included with this article.

When I was reading that article I was thinking how Americans have not realize as yet how many things the United States is going to have in common with Zimbabwe in the near future besides a melting currency.

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*****

Note: A subliminal message is a signal or message embedded in another object, designed to pass below the normal limits of perception. These messages are indiscernible by the conscious mind, but allegedly affect the subconscious or deeper mind.

*****

Right now it is 3 AM in the morning and later today the House of Representatives is going to re-vote on the $ 850 billion Wall Street bailout.

Today the House of Representatives are also going to sort out the men from the boys.

I hope we have enough men in the House of Representatives to defeat the Wall Street bailout for a second time in a week.

The Congressmen should vote "NO" and against this $ 850 Wall Street bailout.

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Now going back to the subject of hyperinflation in the United States and turning the US dollar into Confetti:

Running Tab regarding the US government bailouts for year 2008

$ 168 billion stimulus checks sent to Americans earlier this year, $ 30 billion loan to facilitate the forced-sale last March of Bear Stearns, $ 200 billion pledge for Fannie and Freddie - nationalization, $ 85 billion bailout to AIG, $ 25 billion in loans to the auto industry, $ 50 billion dollar insurance deposit bailout for money market funds, $ 850 billion down payment on Wall Street bailout, $ 300 billion replenish FDIC fund (Pending)* - $ 1.7 Trillion Total Running Tab for US government bailouts as of October 2008

*****

Note: *FDIC fund balance as of the end of 2008 will be around Zero or empty fund and this “Zero” balance would be available to insure the $ 6.6 trillion dollars in FDIC bank deposits to a $ 250,000 limit per account.

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Ricardo C. Amaral  10/04/2008 05:46 AM Report

Reply to Marilyn -

Marilyn I just saw your posting on the comments section of the following article:

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It’s 2008. The U.S. Has Dragged the World into a Depression

http://www.elitetrader.com/vb/showthread.php?s=&threadid=124509&perpage=6&pagenumber=14

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…the market dynamic of all these events combined to cause a major institutional collapse in the derivatives market, and that started a domino effect in the entire financial system causing a massive meltdown.

Panic among the major holders of US dollar also contributed to the stampede like we had never seen before - and at the end, Chernobyl looked like nothing when compared with the final meltdown of the US dollar, and US economy during the summer of 2008.

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You will also enjoy reading the following 2 articles:

FDIC insurance and the US economy

http://www.elitetrader.com/vb/showthread.php?s=&threadid=139061&perpage=6&pagenumber=7

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With 3 months to go to the end of the year after all the dust settles from bank failures around the United States the FDIC fund should end the year of 2008 with a fund balance quickly approaching Zero.

The new bank insured deposits up to $ 250,000 limit is estimated to be around $ 6.6 trillion dollars - since the FDIC is required to keep a reserve fund totaling 1.15 percent of estimated insured deposits – you do the math regarding the amount of cash that the FDIC has to have as a fund balance. ($ 6.6 trillion dollars X 1.15 percent = $ 76 billion dollars)

If the FDIC decides to keep a reserve fund totaling 2 percent of estimated insured deposits than the FDIC Fund balance should be around $ 132 billion dollars.

The truth is the FDIC Fund is away underfunded mainly during a period on financial chaos.

The good news is that Americans don't have a clue about what just happened to the FDIC fund and how vulnerable they are regarding losing all the money that they have on their bank accounts.

The FDIC fund is just a joke or if the FDIC were a insurance company then the FDIC would have a "junk" rating.

Would you feel comfortable buying insurance for your family from an insurance company with a junk rating?

Basically your bank account is insured by a insurance company with a junk rating today.

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Douglass Montrose-Graem  10/04/2008 01:17 AM Report

To-night is a good example of the importance of picking the "right" guests. The first segment sounded bipartisan -- [we are on Public TV, right?\ , discussing two false choices -- when a third good one is available -- "'Commoditizing junk mortgages".

From then on we have seen a descent to partisan adulation [so tiresomely repetitive\ to perhaps [hope so!\ THE low point in Charlie's path, when the remark/sick joke? referring to the President and Vice-President's alleged wish "We don't want to end this war" greeted by the host's snigger/laugh........CHARLIE, HOW COULD YOU ???!!!

sock puppet  10/04/2008 12:44 AM Report

Decrying regulation and reinstituting the essence of Glass-Steagall is pure Republican markets-will-self-correct BS that got us here to begin with. With luck these guys will be jettisoned to the dung-heaps of the exploiters of human frailty where they belong. Repugnant capitalists that have helped to destroy capitalism and too obtuse to acknowledge it, notwithstanding the passing of the biggest socializing socialists bill in history. Oversight and separation of banking disciplines with reserve requirements will be imperative cause the greedy little children will try to game the system AGAIN with the very money they're supposed use to bail us out. Repugnant acts with impunity breeds repugnant acts, aka, moral hazards.

Gustavo Corral  10/04/2008 12:25 AM Report

Enough has been said about the bai- Ahem! excuse me, the rescue plan.

What has irritated me is the position of many pundits and intellectual "elites". For instance, Cokie Roberts who on your show, not only agreed with the rescue plan, but almost seemed to say that those who were against it were tremendously stupid and could not really understand economics or business.

I myself don't mind stupidity; what I do mind it stupidity coupled with dead certainty.

Many points have been made agaist the rescue plan; among them:

1) that by buying toxic mortgages at full value you improve a bank's balance sheet ( by the same amount you reduce the governments balance sheet ) but do not necessarily make it make new loans i.e. making good on a bank's old loans does not necessarily make it want to make the same mistake again. The market for subprime mortgages may collapse anyway for the same reason that people will not throw good money after bad.

2) that inter-bank lending is only "frozen" if the couterparty is one of these banks with a lot of toxic debt. Good banks can still get money.

3) that the collapse of a bank ( or several banks ) does not close down the services they provide - as we say with Wacovia, what generally happens is that another player steps in and buys the good assets, some people get fired but the Customers of the bank are still serviced. In other words most such bankruptcies do not result in a Chap 7.

4) That the current plan has no controls: specifically the oversight board can recommend but not block any action taken by Paulson. No objective criteria are put in place to limit the types of deals Paulson might get into ( e.g. buy only assets that are put up in an action instead in a private deal (the kind Paulson Loves! ) at full value, or buy only up to 80% full value to take into account the risk the government is taking on )

Yet despite these things and the vague Wall St. to Main St. link ( again only true if all banks went bankrupt instead of some gobling up others and still serving their clients, and even then this problem could be solved by injecting liquidity in return for stock as was done in Iceland just recently ), we who do not believe in the bailout are the naive and stupid ones, too unsophisticated to understand economics.

Maybe so; I think there is something indemic to human nature that goes back to cave-man days: a sensitivity about getting screwed.

RE Mant  10/03/2008 11:58 PM Report

The problem is that this plan will only make things worse in the long run. It is inflationary, and unworkable unless the inflation it creates can raise the prices of the mortgages to 100%, and also resume the speculative cycle. And I doubt very much, if that happens, we will see any change in either regulation or monetary and fiscal policy. For the record Wanniski was wrong, Hawley-Smoot lowered tariffs considerably, and, in any case, had little to do with what caused the Depression, which was enthusiasm caused by too much money in this country and too little abroad, as the result of WWI. More than bank regulation, what we need is to move to a 100% reserve requirement. After that something has to be done about the other processes that turn debt into money that we can't control. The best reform there is to restore face-to-face relationships, and get it out of the hands of those who use it to enslave us, to use some very old language. This process of indebtedness has turned our polity over to the money-lenders, and our science and engineering into financial manipulation, and it cannot end well.

Jim  10/03/2008 11:20 PM Report

"Balls", said the Queen. "If I had two I would be King." The King laughed because he had two.

sock puppet  10/03/2008 07:19 PM Report

Holy feces. The crass addition of $110 billion pork to the $700 billion bailout is depraved, cynical, insolent, irrational, venal, unpatriotic and treasury gutting stupidity. The lobbyists, the first of the four branches of government have prevailed yet again. Olie Garch, our real Monarch is storing up his counting house while we head for the poor one. We're close to needing a REVOLUTION. Or at least a third or fourth or more parties. Or a parliament and a prime minister that we can jettison with a no-confidence vote. -------------------------------------------> Ralph Nader's getting my vote as my state goes immutably Republican anyway, so I have a free send-a-message vote.

Marena  10/03/2008 07:14 PM Report

I agree with cheriekeane. Also, I thought it so telling that the day the bailout failed, papers said who gets the "Blame", not who gets the "Credit". I was heartsick to see Charlie Rose leave his journalistic credentials behind on this issue. I was also sickened to hear so many of his guests say that Main Street "just doesn't understand". I had no idea there was such contempt for Main Street! The thinly veiled superiority & arrogance on display completely stunned me. That Charlie obviously shares that view reveals a dark side to him that is indecent. Actually, it's YOU and your guests who do not understand Mr. Rose. But you'll be hosted on your own petard soon enough. And then I hope you will take a long look in the mirror and question yourself about arrogance, journalistic ethics, bias, and integrity. But don't just listen to me, a viewer who obviously "just doesn't understand". Listen to this journalist, from Washington DC.

Media haven't deigned to cover bailout dissent

By Daniel J. Parks

October 3, 2008

Chicago Tribune

In my 18 years as a journalist—nine of them in Washington—I've rarely seen my profession behaving as badly on a hard news story as it has during coverage of the financial bailout bill.

The level of condescension has been breathtaking.

Particularly on network and cable television, journalists and supposed financial experts have been wagging their fingers at the voting public for pressuring Congress to vote against the bill. To hear them tell it, you would think there was universal agreement—at least among smart people—that something needs to be done now.

But this isn't a divide between smart and dumb people; it's a divide between Wall Street and its allies in Washington, and the rest of the country.

And no, it's not the same thing.

If you've spent much time listening to cable news lately, you would think there is universal agreement among economists that an immediate, enormous government intervention in the markets is the only way to stave off a recession, and perhaps even a depression. This is simply false. Many economists reject the notion that something must be done immediately and have called for more careful consideration of a wider range of options. Some even reject the premise that any bailout action will make much of a difference.

While it is true that most Wall Street economists predict doom and gloom for America without immediate government action, many of these economists are connected in some way to the institutions that would benefit from a bailout. There are scores of respected economists who hold different opinions, but nobody is running to the University of Chicago, for example, to put its economists on national television.

I don't know which side is right, but I do know that only one side of the argument is getting much attention.

Sen. Richard Shelby of Alabama has been among the leading critics of the bailout plan. He has gotten little media coverage, except to be dismissed as something of an amusing sideshow. But Shelby is the top Republican on the Senate Banking Committee, and as Monday's vote in the House demonstrated, his skepticism of the bailout plan is much more widespread than the relatively scant media coverage of such a key figure would suggest.

It's been almost humorous to watch the reaction to the stock market. As the vote on the bailout bill tanked Monday, the stock market plunged—an obvious reaction to the vote. Talking heads on TV solemnly cited this as evidence that a grave mistake had been made, and here was the evidence. But then a funny thing happened. The next day, the stock market bounced back, regaining most of what had been lost the previous day. The reaction was comical: Don't pay too much attention to single-day fluctuations in the market, we were told.

Ali Velshi on CNN is among the worst. The bald, bespectacled financial analyst practically wags his finger at America as he exhorts over and over again that everyone is at risk, and that the good people of America just need to listen to the experts.

Newspapers have been better than television in their coverage. The Washington Post ran a story Sept. 26 noting that there are many economists who disagree with the conventional wisdom of Wall Street

on the bailout issue.

But this theme generally gets lost in the day-to-day coverage and the underlying, unyielding message is that something big must be done quickly.

For example, The Washington Post's Steven Pearlstein, whose expertise and analysis I respect on most issues, joined the "They just don't get it" bandwagon with a column in Wednesday's edition titled, "They just don't get it." Pearlstein showed remarkable arrogance in declaring "too many people don't understand the seriousness of the situation."

The fact is, most people do understand. They just aren't convinced that this particular approach—or any government approach—is the best answer. And there are plenty of smart, highly educated people on their side. Just because you won't find many of them on Wall Street, or in Washington, doesn't mean they don't exist or their analysis is any less sound.

Even among the voters who believe a bailout would help, many remain opposed regardless. They want to see Wall Street suffer for its excesses, even if they must suffer, too. Normally the media would seek out and admire stands on principle such as this, but not on this story.

The disconnect appears to stem from the fact that in many cases, financial journalists have simply gotten too cozy with the Wall Street crowd. These journalists have failed to cast a critical eye on what their small circle of East Coast experts in the financial world tell them, and they have ignored other sources in most cases.

One would think that after being taken to the woodshed for failing to challenge the underlying assumptions on the need to go to war in Iraq, journalists would be more cautious about accepting the establishment explanation of any undertaking of this magnitude. But the journalists who covered the war for the most part are not the same journalists who are now covering the economy.

Perhaps the two groups should have a chat.

Daniel J. Parks is the managing editor of Congressional Quarterly

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You should be ashamed Charlie Rose. But I question whether you have the decency to even know that.

cheriekeane  10/03/2008 06:21 PM Report

Is this a $700 billion dollar "rescue" plan or a "bailout"? It depends on whether or not you are for it or against it. I noticed that all throughout the Charlie Rose interview with Warren Buffet Charlie referred to this plan as a "rescue" plan. I also noticed that while watching CNBC 's Mad Money program, Jim Cramer referred to the plan as a "rescue" plan.

It's a very interesting media study to watch those who support the plan call it ia "rescue plan", while those who are agains the plan call it a "bailout".

Check and see for yourself.