zorrow

Facing 10.2% unemployment, Obama announces a December jobs summit before heading out for a weeklong trip to Asia. "We're obligated to examine new ways to create jobs," the President says.

Let's do away with the whole "job" paradigm. Let's not only cut taxes on the rich, let's give them the whole treasury and with this recognition and upgrade to master of the universe status comes the responsibility to feed us and entertain us, and if they don't we get to abuse their children, use their organs for transplants, and devour them. (oh come on its not any worse than Jonathan Swift's comment regarding the Irish and their children).

Facing 10.2% unemployment, Obama announces a December jobs summit before heading out for a weeklong trip to Asia. "We're obligated to examine new ways to create jobs," the President says.

When the veterans come back from Afghanistan and Iraq, they could be employed by the banksters as personal body guards. That should be a growth industry.

Goldman Sachs' (GS) CEO explains why he pays more: It's because my guys make more money, duh. "What people fail to mention is that net income generated per head is a multiple of our peer average. The people of Goldman Sachs are among the most productive in the world."

Goldman was a key player in the massive "mortgage wrapped" fraud and concomitant government corruption that destroyed pension funds, college endowments, government funds, home values, jobs and trust in the markets worldwide. What does productivity per head have to do with anything?

David Weidner's advice for the government and [[AIG]]: Let Benmosche go. The CEO of four months has helped morale at the insurer, but by threatening to quit over pay restrictions, he risks making the AIG debate a battle between taxpayers and fat cats - and he's going to lose.

AIG is like a disgruntled computer geek that screwed up your system with malicious code and demands extortion payments to fix it. Ben is their "business" agent.

Bailed-out banksters complain (vaguely) that restricting bonuses causes their talent to flee, but Bloomberg nails down where they're going: Nomura and Barclays. Derek Thompson feels some sympathy for the poor devils - after all, a talent exodus will hurt taxpayer-owned institutions - but figures a solution may be to make the bailed-out firms back into retail banks where the brain drain is less likely.

"Talent" moves from the US to some other location. BFD, its not like these guys are patriots working to build our society. They're just larder rats; so it doesn't matter where they nest.

In a brief reaction to a "sobering" jobs report, President Obama said he's examining new measures to spur growth and ran off a list of five: road/bridge investment, energy retrofitting, additional tax cuts for businesses to create jobs, boosting credit to small businesses and support for exporters.

How about stimulating big industrial businesses to offer good jobs here in this country. All this small business crap is a lot of hooey. Nobody wants to work for a small unstable family dominated business. That's last choice. And small businesses do much better when they have big business clients. We should have given the TARP money to the 50 top industrial employers in this country on condition that they build plants and hire people here. But we gave everything to the partners at Goldman Sachs.

Vermont Sen. Bernie Sanders introduces legislation that would give Treasury Sec. Timothy Geithner 90 days to compile a list of banks, funds and insurers deemed too big to fail, and then break them up within a year.

Is it good to have a competitive disadvantage in a race to the bottom?

Also buried in Fannie Mae's (FNM) SEC filing yesterday was that it agreed to sell $2.6B in unused tax credits to unnamed buyers, and received approval (.pdf) for the deal from its regulator, the FHFA. The Treasury is thought to be leery of signing off on the sale, reportedly to Goldman Sachs (GS) and Berkshire Hathaway (BRK.A).

"Sometime when the team is up against it and the breaks are beating the boys, tell them to go out there with all they've got and win just one for the Gipper!"

Goldman is down, Hank Paulson comes onto the field. They've lined up! Wow, it's Paulson to TARP to HankBank to PartnerPocket. What a play. They're going for the extra billions. Warren is holding. The kick, it's good they score tax credits. What a game folks.

Also buried in Fannie Mae's (FNM) SEC filing yesterday was that it agreed to sell $2.6B in unused tax credits to unnamed buyers, and received approval (.pdf) for the deal from its regulator, the FHFA. The Treasury is thought to be leery of signing off on the sale, reportedly to Goldman Sachs (GS) and Berkshire Hathaway (BRK.A).

Gawd! This theft and government corruption is so blatant, that I don't know what to say. There is just nothing. I'm stunned! It must be how the Romans felt when Commodus became their emperor. How did we end up here.

Sources say Berkshire Hathaway (BRK.A) has joined Goldman Sachs (GS) in a bid to buy $3B in tax credits from Fannie Mae (FNM); the credits are virtually worthless to Fannie Mae. The government, which controls Fannie, is thought to be reluctant to approve a deal that would allow Goldman to save on taxes, but taking widely-respected Buffett as a partner could reduce the tension.

Buffett again? We've got a reinsurance scandal. . . quick call Buffett he'll assuage the uproar. Hey, let's merge Wells Fargo and Wachovia. . . Get Warren, he'll make the medicine go down. Goldman Sachs is nothing but a factory that manufacturers and distributes misrepresented "mortgage" products. Let's get Warren he'll take the stink off. Hey Immelt wants to hide toxic assets from the other stockholders at GE. . .Let's get Warren. . . he'll fix it.

Cramer Does It Again with CIT Call

"I wrote that on the fly late last night after a long day watching football and having a few brews with the family ."

Okay then "fun" article in that spirit and context.

Last fall's investment of $125B in taxpayer money into nine banks gets an unlikely endorsement - from two Chicago-school economists, who say "Paulson's Gift" (.pdf) didn't just redistribute value, it created value.

Gee, thanks Mr. Paulson, you're swell! At least two vanity press type professors writing for a conservative think tank have claimed.

Here's Why Asia Must Eventually Ditch the Dollar

The problem with blind ideology is that it is blind. Obama did not break the trust required for international acceptance of the dollar as the reserve currency. We all know that certain US politicians in cahoots with certain individuals spread across the international financial community, destroyed that trust by creating and misrepresenting dollar denominated mortgage instruments. we know their names and we know their games. Unfortunately, rather than breaking with this Cabal, Obama has embraced them. Until he he turns his back on them like he did the reverend; bye dollar.

In a letter to the SEC (.pdf), Goldman Sachs (GS) dispels five common myths about so-called 'dark pool' anonymous trading exchanges. The rest of the 56-page document - which summarizes a Sept. 24 SEC/Goldman meeting - sheds light on short selling, high-frequency trading, flash trading and naked access.

Tarzan like efficiency and liquidity. Tarzan no like misrepresentation, manipulation, government corruption.

How long is the long-run? According to this table, the 30-year timeframe is the narrowest in which stocks currently beat long-term goverment and corporate bonds. Of course, contrarians will say that recent weakness is precisely why stocks are poised to outperform going forward.

Is there a study that compares only dividend paying stocks to bonds?
I'm sure there not comparing junk and worthless MBS on the bond side of the equation, so why load the stock side up with junk stocks?