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Sunday, July 20, 2008

Gary Kaltbaum Joins The Ranks Of The Paranoid

Gary Kaltbaum has a radio show on the Business Talk Radio Network (my local affiliate does not carry the show, bit the show is podcasted here. Caution, the audio levels on the podcast are quite low). If you are not familiar with him, he is a money manager who is an IBD-type investor, and I like him because he calls it like he sees it, no pumping, no perma-bull or -bearishness, and only occasional political ranting. Download Friday's show and listen to the first 15 minutes, where he tears after the SEC and Paulson. It is classic, and he raises questions I have raised before on this blog.

Here are a few quotes:

"Do any of you even take a step back and realize that in the last two weeks our government and our regulators have bully pulpited the speculators from buying oil and shorting financials? Do you see something wrong with this picture? Because I've got news for you. We are in big, big trouble when our government is manipulating markets in plain sight."

"Due to the fact that Hank Paulson came from Goldman-Sachs, has there been a pipeline of talk between Goldman-Sachs and Hank Paulson about which way things are going to go, and what they are going to talk about? Is any of this going to happen? Because I do recall many months ago, the day before we had the first surprise rate cut, the financial stocks rallied like crazy many months ago in advance of the next morning's news."

This is a question I brought up in this post.

It's getting to the point where I do not have to rant anymore, the rants are are starting to come from the mainstream financial media.

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