Comments on: Jim Rogers: They Should Have Let Citi Fail

By: EcoMom

EcoMom — Tue, 02 Dec 2008 22:48:50 +0000

Love, Love, LOVE this interview! Jim Rogers is right on the money. PLEASE have more of this intelligent conservation in the media. I’m STARVING for truth. You know, when we’re sick we have to take our medicine so we can get better. Let’s take our medicine and be healthy again, instead of waisting time complaining that we’re sick only to discover that we’ve become more ill. Let’s take the medicine of more accountability, more individual responsibility, less government, more savings and more industry and live again!

By: Ben Straub

Ben Straub — Mon, 01 Dec 2008 21:57:48 +0000

Many things that Jim Rogers said I believe are correct. That also goes for Peter Schiff and Ron Paul. If all three agree on something then it is probably darn close to being prohetic.

By: Manoj

Manoj — Sun, 30 Nov 2008 14:08:39 +0000

I don’t understand this whole argument about too big to fail. The whole premise of investment banking is basically betting on events in a market and if they go wrong they fail it’s or a broad scale more like gambling the moment you make wrong bets you fail as simple as that. Trying to bail out investment banks is insanity.

Anyway for those who still are scared what would happen incase america fails well. Japan had nuclear bombs thrown at it on two of its major cities its economy was totally destroyed and they started over on a base that was left which must have been strong and see teh growth story that japan has witnessed over the last 50 years.

Every country right from China in 1870’s turkey russia south korea world over has gone through bad economic phases where they cleared out the excesses and started building a more sound economy.

By: peter fairley

peter fairley — Sat, 29 Nov 2008 16:11:39 +0000

Bernanke and others have made the key point that in the 1930’s the government made the big mistake of letting too many banks fail.
There is some element of truth to the idea that it is good to “purge the system” of incompetent people…except the incompetence is so widespread it would END the system…not cleanse it.
Jim Rogers has admitted several times he is shorting the financials ETF; so he has money interest in big components like Citi failing.
He has some interesting views on commodities…and makes money trading…but he does not have an objective view of systemic financial remedies…and sounds more like a republican crank when he talks about no bailouts…Previously he was saying the Fed needs to raise interest rates as we were entering the recession.

By: ra King

ra King — Sat, 29 Nov 2008 10:08:30 +0000

All this talk of who should or who should not get bailed out, is topical over the main problems in this country. There are forces at play regarding our financial mess which in my opinion is being orchestrated. Take the CFR and Bilderberg members elected to office out of Washington if one really wants to see a massive improvement for the United States. All the people that ran for President this year are members, except one person, that being Ron Paul. If the news media was a fair playing ground, you would already know what I just posted here. If your not informed, you can google the member titles above. May God have mercy on our Grandchildren.

By: Duane Schumacher

Duane Schumacher — Fri, 28 Nov 2008 21:55:57 +0000

The capitalist comments are 100 % correct.

The only way out of this mess is let the markets do their thing and stay out of the way

The governments idea of putting condoms on the system to control disease wont work but abstinence will

By: Nali Tom

Nali Tom — Fri, 28 Nov 2008 12:25:09 +0000

Alexis Glick shows her knowledgeable and top beautiful ,graceful .it’s the better performing interview with Jim Rogers .

By: William Bauer MD

William Bauer MD — Fri, 28 Nov 2008 12:07:47 +0000

Alexis,
Thanks for having someone who is not part of the Acela-ocracy. He is the first guy you have had on that is correct and makes sense. He is right but he does not go enough. What he fails to mention is that “unstable currencies lead to unstable societies.” As a currency treader he knows that when you have huper inflation you soon get dictatorsips and/or civil disaster (think gas chambers in Germany, Palestinian uprising in Isreal after their hyper-inflation in the 70s, the Argentinian civil war in the ….(well pick your decade), and Zimbabwe now). Gietner and Company are leading us into the killing fields with their hyper-inflationary “expansion of the federal reserve balance sheet”(if that is what the Acela-ocracy is calling turning on the printing presses).
I think you should also follow Jim Rogers suggestion (I know it is hard when you have lived your life “east of the Hudson,”) that all the brightest minds did not go to Ivy League schools). Maybe your guests should reflect that. Maybe you should have someone on who can talk about the demographic theory of economics and how it predicted this Marianas Trench Depression as well as the downturn in the Japanese economy in 1990 and onward.
Japan passed 12 stimulous packages and their market never recovered. Maybe you should show that buy and hold has been a losing proposition in Japan from 1985 onward and that even buying after their crash in 1992 would, today, have left your portfolio with a third of your money it had in 1992.

By: jo

jo — Fri, 28 Nov 2008 05:30:42 +0000

I totally agree that we should have let citi fail. It would be the best thing for everyone, if these large banks and car manufacturers to go bankrupt. A couple of years ago, Citi Mortgage held my home mortgage. I only had 50 some thousand left on the home. I called them and asked if I could borrow $10,000 out of my equity to pay some debt. They said “No, but we can give you a $20,000 revolving credit line with a variable rate.” Of course the rate got high, so I called them back and asked if I could get a fixed rate on the $13,000 that I had spent. They said “No, but we can give you a $40,000 home equity loan with a fixed rate, and pay off what you have spent so far with it.” Long story short, instead of a $50,000 mortgage, I now have a $103,000 mortgage which I will never be able to pay off before I retire. Thanks Citi Mortgage!

By: SB

SB — Thu, 27 Nov 2008 20:04:03 +0000

Great exchange…. I felt short changed. I wish it went on a just a littlle longer…. the conversations were getting more and more interesting… At a boiling point, too bad it was cut off… I think alexis felt the same way…It was leading to a great ending…