January 23, 2010, Bob Brinker's Moneytalk: Summary, Commentary and Excerpts

January 23, 2010....My sincere thanks for all the encouraging words. I am out of bed a bit more today, but still have a long road to travel (maybe I should get a ride in a green Massachusetts pickup truck). 8^)

I listened to Bob Brinker, and even though I cannot write a full summary of the program, I will comment briefly.

Bob Brinker said that the stock market was "volatile" last week because some in our "dysfunctional government" are questioning Ben Bernanke's Fed Chair appointment. Brinker said: "The stock market cannot deal with the firing of Ben Bernanke right now." However, a couple of times today, Brinker said that he expects Ben Bernanke to be appointed Fed Chair.

Brinker presented his own biased views in all of his political rants and offered very little chance for opposing viewpoints. He does this in spite of constantly trying to convince the audience that he is an equal opportunity demagogue.

My good friend, Jeffchristie has sent some commentary about a couple of Brinker's callers today and a message to Bob Brinker:

Jeffchristie wrote:

"The first caller of the second hour was Carl. He was great. He pointed out what I have said here, that it was Robert Rubin who was behind the repeal of GS and not Clinton. Rubin received one of the biggest payoffs in history for doing it. Sandy Weil wanted to merge Travelers with Citicorp. Robert Rubin talked Clinton into it. Then they needed to repeal GS to make the merger permanent. Rubin was paid off by being named Vice-Chairman of Citicorp when he left office. This was a high paying job with no discernable responsibilities. It was even better than one of Tony Soprano's no-show jobs."

And:

"Mark called in later in the second hour. He suggested Brinker actually read the Supreme Court decision. He correctly said it was based on FREEDOM OF SPEECH. Brinker went into his rant on how the decision favored corporations and unions over individuals. I would have liked to ask him which corporations are you talking about, Bob? The ones you have all your subscribers invested in your model portfolios? Let me see if I understand your argument. You are saying it is a bad thing to give the corporation we are all invested in more influence over the government. Is that you position? That doesn't make sense to me. We the people who listen to you OWN these corporations. When they prosper we prosper.

Your position is based on the same populous garbage that Boxer is using to oppose Bernanke."__JeffChristie

Honey here: "East Coast" sent these comments earlier this afternoon:

"For some strange reason I have Bob Brinker on right now (1/23/2010). His guest just alluded to the fact that it is impossible to correctly time the market consistently. I'm sure Honeybee when she regains her strength will be able to reproduce the quote. The context was in regard to Bernie Madoff correctly timing the market which "almost no one can ever do." Or something similar.

-East Coast" January 23, 2010 3:24 PM

I found it 20 minutes into the third hour of the program: Brian Ross (guest-speaker today), when talking about the portfolios Bernie Madoff used to scam investors said: ".....The statement they (Maddoff's investors) would get, when they got them from him, very nice paper and all printed up, looked like he had a wide range of the very finest stocks and he was coming in and out of the stocks according to these statements and buying Treasuries, and he had some way figured out a magic way to time the market which as you and your listeners know, almost nobody can really do. But everyone thought he had the secret recipe." [Brinker did not reply in any way.]

Bob Brinker's Saturday guest-speaker was Brian Ross:




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