he new financial rescue plan may not work and could even make things worse because it plunges the US further into debt and it is designed by the same people who failed to forecast the crisis and take measures, legendary investor Jim Rogers told CNBC Tuesday. Related Quotes


SymbolPriceChangeAIG0.95-0.09
FNM0.58-0.06


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Treasury Secretary Timothy Geithner will unveil a long-awaited package of measures to help the financial sector at 11 am New York time.
But Rogers said Geithner, who was president of the New York Federal Reserve Bank, "has been dead wrong about everything for 15 years in a row," and so was President Barack Obama's economic advisor Lawrence Summers, who acted as Treasury Secretary at the turn of the century.
"It is mind-boggling to me," Rogers told "Squawk Box Europe."
"If I were on your show 15 weeks in a row and was wrong, you'd probably never invite me back. These guys have been wrong year after year after year consistently and here they are making the same mistakes again. This is not going to solve the problem, it's going to make it worse."
Video: click here for the first part of CNBC's Jim Roger's interview and here for the second part >>>
He said he was not contemplating investing into financials, as bankruptcies were still possible, and banks were still trying to find out how affected they were by the crisis.
"What's happening is they've all panicked, cutting back everything, trying to see what they've got," Rogers said.
Big companies such as AIG (NYSE:AIG - News) or Fannie Mae (NYSE: fnm) as well as other US banks don't know how to value their assets, he said.
"Everybody is frozen, trying to figure out ok, what are we worth, what do we do?"
In addition, the recent shifts towards protectionism are harmful, Rogers warned.
"This is very dangerous, that's what caused the great depression in the 1930s. If it happens again, then you'd better sell all the stocks, you'd better sell a lot of everything and bunker down," he said.
"We already have a lot of social unrest developing. If protectionism comes back, you'd better be really, really careful," Rogers added.

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everything i print write or show on here is a complete and utter lie..i cant help myself i am a terminal liar..all of this shit is just fiction and made up for entertainment purposes ONLY..

dude...you need to get over it...we won...you lost..........end of story

So you're just going to blindly adhere to the idiotic direction that the Democrats are taking this country?

Surely you can't be satisfied with the actions that they are taking and talking about taking...

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Libertas inaestimabilis res est - Liberty is a thing beyond all price. | Sic Semper Tyrannis

that was jim rogers .a multi billionaire.im sure you think he is a idiot .
real stupid man to make all those billions .
the same guy who drove the country into the hole we are in.is now in charge of everything.
he has been wrong every single time for over 15 years.never right one time .and to top that shit off he is a tax thief.
im going to take great pleasure in buying you idiots houses and asset's for nothing.

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everything i print write or show on here is a complete and utter lie..i cant help myself i am a terminal liar..all of this shit is just fiction and made up for entertainment purposes ONLY..

welll max old buddy...both of my houses are paid for.

and TBT...the democrats for some reason act like are scared to say it...but I'm not repukes can kiss my democratic ass...hell I'm pleased with the way is going. I even participated in a protest at rep. senator bob corkers nashville office yesterday.

Oh, you mean like the Republicans have done the last 8 years?

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"Every generation needs a new revolution." - Thomas Jefferson
Check out my new grow! http://www.rollitup.org/grow-journal...ing-again.html

Either way,Get ready for the "REVOLT" of NWO,and the CHIP.

What is it that "pleases" you about enslaving future generations to the trillions upon trillions of debt that the Democrats are presently creating?

Are you unaware of the skyrocketing inflation that is coming about two years down the road? Surely you can't be "pleased" about that, right?

Vi

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Liberals are people that will believe anything twice.

Spend happy liberals won,......American way of life lost.......end of story.

But there is good news maybe, after they really screw us over maybe people will wise up and get rid of Barney Frank and people like him.

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.Intense feeling too often obscures the truth.
Harry S. Truman

To be expected by a country that killed off all of its indigenous inhabitants, and then had the audacity to claim "independence" while simultaneously enslaving an entire race of people. Let it all burn, it's just desserts. Welcome to Babylon.

__________________
"Every generation needs a new revolution." - Thomas Jefferson
Check out my new grow! http://www.rollitup.org/grow-journal...ing-again.html