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David Ellington is on a walking trip of Europe following WWI when he gets caught in a storm. He finds a remote hermitage, but is turned away. After he passes out, the monks are forced to take him in.
After reviving, he hears a howling that the brothers say they do not hear. Following the sound, he comes upon a cell with an old man locked inside. The old man says he is being held captive by Brother Jerome, who is insane. After confronting Brother Jerome, he confesses that he is holding the old man prisoner, but the old man is actually the Devil!
Ellington promises to keep this secret, but as soon as he gets a chance, he returns to the cell. He finds that the only thing keeping the prisoner locked up is Brother Jerome's staff. Ellington asks why he never lifted up the staff himself. The prisoner doesn't give a clear answer but one of the monks arrives at the door. The prisoner says that Ellington must hurry. Ellington does so. He lifts the staff and releases the man, who proceeds to transform into the Devil and disappears in a cloud of smoke and fire. Shortly after, WWII breaks out.
Ellington devotes his life to recapturing the Devil. He finally does recapture the Devil. As he prepares to leave to make arrangements to ship him back to the hermitage, he tells his housekeeper to pay no mind to the howling. But, as soon as he leaves, she lifts the tiny staff on the door, and the door swings open.
http://www.tv.com/the-twilight-zone/the-howling-man/episode/12625/recap.html?tag=episode_recap;recap (broken link)
All this talk about how banks are not lending money...
There are plenty of banks in this country who are healthy and wealthy and more than willing to lend money. The statement that banks won't lend money is incorrect. Banks exist to lend money. That is how they make money.
There are record low interest rates on loans and there are banks willing to lend; so, where are the borrowers?
Where are the big companies that want to expand? Where are the small businesses that want a loan to start up? Where are the home buyers?
While it is true that banks have tightened up their lending standards, I think that potential borrowers are still putting their finances in order before they start borrowing again as is evidenced by corporations building up their cash stockpiles (borrow, why when you have the cash?).
I like the Volcker rule... it evens the playing field FOR investors, not big corporations which profit from it... if they even try to reverse it, I will vote them out of office... its making me start to think that Democrats are better than Republicans with crap like this...
That is why is imperative to squeeze the specifics out of candidates. Politicians cannot be trusted, regardless of their ideology. Looks like this Bachus guy was bought and paid for.
This is just one of the things that Obama screwed up: he should have tackled financial/banking reform FIRST, while the people were still angry.
Investigations should have been conducted, people should have been indicted, tried, convicted and sent to jail. The housing bubble was a scam, and Freddie and Fannie were not the only ones.
Do you have a clue as to what "make markets " means? You clearly have no idea what the Volker rule s either. Investment banks do not use depositors money to trade their accounts. Nor do they make loans (other than margin, stc.) .
If you want to sell a stock in a illiquid market, how are you goig to sell it? That's right a market maker (investment bank) buys it. If they can't trade they can't make markets and you are stuck with a stock you can't sell. Happy now?
Glass Steagall was repealed in 1999. That was what kept investment and commercial banks separate. Now they defacto co-mingle assets under the guise of "bank holding corporations."
Someone want to explain the issue to me? Why wouldnt banks be allowed to buyup their stocks when the stock prices get lower than value? Its to keep them from being a hostile takeover targets..
With the Volckner Rule in place, one could pound down a stock price, and then buyup a company on the cheap, and even further, why is this limited to banking? If its good, then it should be good for all companies, but its not.. so they limit it to banking in "feel good" legislation by Democrats..
That is why is imperative to squeeze the specifics out of candidates. Politicians cannot be trusted, regardless of their ideology. Looks like this Bachus guy was bought and paid for.
This is just one of the things that Obama screwed up: he should have tackled financial/banking reform FIRST, while the people were still angry.
Investigations should have been conducted, people should have been indicted, tried, convicted and sent to jail. The housing bubble was a scam, and Freddie and Fannie were not the only ones.
Madoff was the sacrificial lamb. Not a one from the truly corrupt firms went to jail or even had to answer for what they did.
There are plenty of banks in this country who are healthy and wealthy and more than willing to lend money. The statement that banks won't lend money is incorrect. Banks exist to lend money. That is how they make money.
There are record low interest rates on loans and there are banks willing to lend; so, where are the borrowers?
Where are the big companies that want to expand? Where are the small businesses that want a loan to start up? Where are the home buyers?
While it is true that banks have tightened up their lending standards, I think that potential borrowers are still putting their finances in order before they start borrowing again as is evidenced by corporations building up their cash stockpiles (borrow, why when you have the cash?).
Thats not true. Currently the government is loaning money to banks, who then loan the money back to the government, and the banks are earning a rate on this money. Banks are not loaning to the consumer because there is a guaranteed rate of return with the government.
The fact that there are record low interest rates doesnt mean loans are taking place.. the record low interest rates are because government is backing mortgages, Fannie/Freddie, and government has the rates low to minimize THEIR expenses on borrowing for the debt.
David Ellington is on a walking trip of Europe following WWI when he gets caught in a storm. He finds a remote hermitage, but is turned away. After he passes out, the monks are forced to take him in.
After reviving, he hears a howling that the brothers say they do not hear. Following the sound, he comes upon a cell with an old man locked inside. The old man says he is being held captive by Brother Jerome, who is insane. After confronting Brother Jerome, he confesses that he is holding the old man prisoner, but the old man is actually the Devil!
Ellington promises to keep this secret, but as soon as he gets a chance, he returns to the cell. He finds that the only thing keeping the prisoner locked up is Brother Jerome's staff. Ellington asks why he never lifted up the staff himself. The prisoner doesn't give a clear answer but one of the monks arrives at the door. The prisoner says that Ellington must hurry. Ellington does so. He lifts the staff and releases the man, who proceeds to transform into the Devil and disappears in a cloud of smoke and fire. Shortly after, WWII breaks out.
Ellington devotes his life to recapturing the Devil. He finally does recapture the Devil. As he prepares to leave to make arrangements to ship him back to the hermitage, he tells his housekeeper to pay no mind to the howling. But, as soon as he leaves, she lifts the tiny staff on the door, and the door swings open.
The Twilight Zone: The Howling Man Episode Recap on TV.com (http://www.tv.com/the-twilight-zone/the-howling-man/episode/12625/recap.html?tag=episode_recap;recap - broken link)
Creepy...wasn't it?
I've seen this episode several times; it's quite good; the transformation from human being- to- devil takes place as "he" departs the castle, and is fairly convincing, especially since this episode was made around 1959-60..
I like the Volcker rule... it evens the playing field FOR investors, not big corporations which profit from it... if they even try to reverse it, I will vote them out of office... its making me start to think that Democrats are better than Republicans with crap like this...
But the fact that his predecessor declared Fannie and Freddie to be fundamentally sound right before they failed, taking the economy with it, didn't bother you?
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