Gov't says NO to CIT bailout

[Traderx]

But, it’s no longer about doing the right thing, is it? It’s all about not losing money and, in fact, making it

LOL!. You crack me up. This is all it's EVER been about and it should ever be about. Where talking business here not church.

i’m wondering today how much profit GS and JPM traders have made shorting CIT stock?

Hopefully they made a ton. That is their job afterall as traders.

you are right that cit group and citigroup are 2 different companies, and that the saudi prince is heavily invested in citigroup.

I'm right about this whole subject. There's nothing new here. If you're a business you have to make money or you go bankrupt. That's how it's always worked until the idea of systemic risk came about thanks to Paulson and Bush.

[floridasandy]

wall street performed a valuable investing function and it may be all about making money, but i certainly still hope it is about making money honestly.

[Traderx]

Well, when it comes to business and especially Wall St honesty has many defintions. I think we could agree though that at the very least everyone needs to play within the rules. Of course, the problem is trying to agree what those rules should be.

As for CIT though, there is nothing dishonest at all about shorting the **** out of piece of trash company. Those shorts are only there because the mis-management of the company provided them an opportunity. I just wish I was smart enough to have joined them. LOL!