MASTER LIMITED PARTNERSHIPS

Tuesday, September 23, 2008

DEAR SENATOR BIDEN

1. FDR WAS NOT PRESIDENT IN 1929 WHEN THE MARKET CRASHED

2. TV WASN'T AROUND YET

Watch CBS Videos Online

Don't you feel more confident that the fate of the financial world lies with Congress?

13 comments:

Anonymous said...: That's funnier than hell! None of these guys have a clue about the economy. I can't remember the last time I actually voted FOR a candidate. I always find myself voting AGAINST candidates. Sad state of affairs.

Speaking of the economy,I keep reminding myself to avoid the trap of asking "What if it's different this time." The problem is, as soon as I comfort myself with that gem, a tiny voice whispers in my ear, "Yeah, but what if it really IS different this time?"

We are witnessing an unprecendented firestorm and we are in totally uncharted waters. The problem with selling MLPs or any other asset is that by doing so you are implicitly buying dollars. Which is worse?; 9/23/2008 12:57 PM
Anonymous said...: What our country needs now more than ever is leadership. The constant finger pointing down in DC is just such a useless exercise. Do the politicos really think that we believe anything that they say? The are all so self absorbed that they have no clue how worthless they have become. It's a sad state of affairs.

Please pull the plug on these disgraceful blowhards and let us try and get back to work.; 9/23/2008 1:02 PM
Anonymous said...: Well guys at the rate we are going we can kiss Friday's gains goodbye soon. What a mess.; 9/23/2008 1:06 PM
Anonymous said...: The financial markets are no longer serving any viable function.

The stock market has become a worthless price discovery system, where prices reflect absolutely nothing tangible. 5% swings from day-to-day. Billions in value lost daily.

If these MLPs were private companies would the values change by hundreds of millions or billions of dollars everyday?

Would the owners give a damn about all the noise moving the market right now?

We are in a financial hell right now and unfortunately there is no clear end in sight.; 9/23/2008 1:16 PM
Anonymous said...: Man these "forced sellers" have been selling for the last 12 months, how much inventory do they have? And who is going to keep buying this stuff?; 9/23/2008 1:17 PM
Anonymous said...: This bailout is a waste of time. It will only bridge the gap until the next shoe drops. The jig is up.; 9/23/2008 1:20 PM
Anonymous said...: I have an idea for Congress. Let's just shutdown all the stock exchanges forever, this way stocks will never go down again.; 9/23/2008 1:30 PM
joewxman said...: "what if it really is different this time?"

Well if its really different this time everything will go to zero, the world falls apart, those with the guns will rule..and it is finished!

The world can only end once..no point being short for it.; 9/23/2008 1:52 PM
Anonymous said...: "This bailout is a waste of time. It will only bridge the gap until the next shoe drops. The jig is up."

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This program should have been done 6 months ago. Now we are in crisis mode. So Sad.

As for MLPs here are the headwinds,

1) Hedge fund liquidations

2) Deleveraging of other intitutions.

3) Issues of convservation and demand distruction affecting sales going further.

4) Potental for former VP Gore to be influental in an Obama Administration.

5) Lack of visability as to the certsinly of refinancing of MLP debt at a reasonable rate.

6) panicked retail investors

7) margin calls

8) Fund redemptions

9) Viability of the the US financial system in question

10) Recession; 9/23/2008 1:55 PM
Anonymous said...: I think your list of MLP headwinds pertains to the entire market also...; 9/23/2008 2:03 PM
Anonymous said...: Congress should just make it illegal to ever sell a stock again. This way prices can only go up!; 9/23/2008 2:11 PM
Anonymous said...: 3 positives today in a lousey market.

Dollar up,

OIL and Gold Down.; 9/23/2008 2:13 PM
Anonymous said...: Sarah Palin on the financial crisis... "I don't like it". Where's Dan Quayle when you need him.; 9/23/2008 10:31 PM