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  • AIG (AIG) offers the NY Fed $15.7B for Maiden Lane II - a company the Fed created to rescue some of AIG's mortgage-backed bonds and stem its cash bleed. If accepted, the deal would reduce the taxpayer price-tag for AIG's rescue to $72B, and the Fed would log a $1.5B profit on Maiden Lane II.  [View news story]
    AIG comes out 1.5 Billion ahead. How can I get the Fed to give me 1.5 Billion?

    Doesn't that seem unlikely? Why is AIG's offer not just laughed out of the room--at the same time their executives are handcuffed and walked out to jail?
    Mar 10 07:03 PM | 7 Likes Like |Link to Comment
  • Think 2008 Was Bad? You Ain't Seen Nothin' Yet [View article]
    I'm glad NATO won't be bombing us.
    Jul 12 01:22 PM | 4 Likes Like |Link to Comment
  • Privatized Profits, Socialized Losses: Why I Support Occupy Wall Street [View article]
    I support Occupy Wall Street.
    Nov 3 02:31 PM | 3 Likes Like |Link to Comment
  • The End of Gold, Part Three [View article]
    "... I suspect President Obama is too smart to fall for this brazen scam, and I'm even more confident the American people won't have it. "

    Well I suspect the opposite, especially given the structure of the "stimulus" bill.

    More importantly I keep seeing folks saying that the "American people won't have it", etc. Please, Please, Please let me know how and where to exercise the option implied by this.
    1) There are no federal elections for 2 years.
    2) Only party players (dems and repubs) who toe-the-line get offered
    up for election.
    No. The American people will have it -- because they don't have any choice.

    (We, as a country, are to the point where we need direct democracy via electronic voting if we are "to have a choice". The "wisdom" which representative democracy provided in days before polls and political pressure has disappeared from our political system.)
    Feb 11 12:19 PM | 3 Likes Like |Link to Comment
  • Facebook (FB) has disclosed that it received 9,000-10,000 requests for information about 18,000-19,000 accounts from all U.S. government entities in H2 2012, whether those entities be local authorities or the NAS. Microsoft (MSFT) received 6,000-7,000 requests, although Google (GOOG) declined to provide the information, saying it wanted permission to provide more detailed data before releasing such information. [View news story]
    At this point it is clear the number could just as well be 120,000 or any other number. There is little credibility left in the government or the system -- including the big companies vested in the status quo. The real issue is these consistent attacks on the US Constitution. Maybe someone in power will stand up to defend it.
    Jun 16 04:14 PM | 2 Likes Like |Link to Comment
  • Has Paul Krugman Gone Too Far This Time? [View article]
    News flash to the EVERYONE: the Republican House MAJORITY was re-elected--act accordingly.

    The number of votes for Republican Congresspersons (as a whole--covering the same voters) was FAR greater than those for Obama. These are the people closest to the voters. At the local level there is far more choice (and the chance to really influence who is a candidate) than there is for President (or Senator).

    No. Obama has no mandate, only a political machine. The House should stand its ground.
    Nov 14 11:07 AM | 2 Likes Like |Link to Comment
  • It's open season on the trading positions at JPMorgan's (JPM) Chief Investment Office, and the $2B loss disclosed 4 days ago has grown to $3B, according to sources. Markets will fluctuate and today's loss could be tomorrow's gain, but this is a bank - holding government-insured deposits and with access to near-free capital from the Fed - not a hedge fund.  [View news story]
    May 16 11:04 PM | 2 Likes Like |Link to Comment
  • The Can-Kicking Bank Bailout [View article]
    (Let's try this again. A similar comment was apparently deleted.)

    Here we go again. Bailing out U.S. banks wasn't enough. Now we are going to bail out Europe. (Gosh we must have a lot of excess money over here.)
    After all is said and done it looks like the backing for all of this is the U.S. taxpayer.

    And we are starting into this (again) just as--today--we get the news that a 2B-euro loss from a bank's "rogue trading" in Europe surfaced today.

    Questions of concern:
    1) Will someone make sure that the bonusses for those bankers are big enough so that they won't need to come back for more bailouts (and bonusses)?
    2) Can someone other than Geithner be sent to show them how to collect taxes? (I think he must have been the advisor to Greece.)
    3) Since they are getting money which the U.S. obviously does NOT need to fund our own pension liabilities, etc., when are the good times going to start rolling here?
    Sep 15 03:00 PM | 2 Likes Like |Link to Comment
  • The Can-Kicking Bank Bailout [View article]
    It looks more like it is really the U.S. that is bailing the European banks out. And by "U.S." that pretty much means U.S. taxpayers.

    By the way, are those European bankers going to get really big bonusses just like ours did?
    Sep 15 02:15 PM | 2 Likes Like |Link to Comment
  • FHFA Friday: Potential Lawsuit Tanks Banks [View article]
    "What was the point of spending trillions of dollars bailing out the banks if you are going to turn around and sue them for $30Bn and drop their stock price another trillion, causing them to need another bailout? "

    Wrong question. Sunken "costs" for a corrupt system.

    Maybe, finally, we are going to see some action based on Justice and Fairness. Maybe.
    Sep 2 01:12 PM | 2 Likes Like |Link to Comment
  • Why QE2 Will Backfire [View article]
    "Bernanke would be forced by [...] the public to back off..."
    Don't I wish. The public has no power at all. Even the elected politicians ignore them immediately after swearing in to office. NO. The public is simply a "consumption/tax generating/(sucker) investment generator" which Wall Street and the Government try to run at higher and higher speed.
    Nov 9 11:41 AM | 2 Likes Like |Link to Comment
  • Unraveling Market Manipulations With Mencken [View article]
    Apr 8 12:27 PM | 2 Likes Like |Link to Comment
  • A WSJ analysis shows how execs at large companies going through bankruptcy receive millions in compensation while slashing tens of thousands of jobs. At 21 firms, the CEOs received a combined total of over $350M, with the median amount $8.7M. However, lawyer Richard Levin argues that firms "need to attract the best people."  [View news story]
    These people must be "better" than brain surgeons and every one in public service. (Not to mention those working at the Fed.)
    Jan 27 10:45 AM | 1 Like Like |Link to Comment
  • THE OLD MAN AND THE SEA - 2011 [View instapost]
    Sep 19 11:03 AM | 1 Like Like |Link to Comment
  • An EU official says Treasury Sec. Geithner - planning to attend Friday's EU finmin meeting - will likely urge Germany to give up its resistance to increasing the size of the bailout fund. He is also expected to "tap the Greek finmin on the shoulder," to remind him of Greece's responsibility.  [View news story]
    Geithner's trip is just market-pumping BS. The Greeks don't have the resources to solve the problem. They could sell the whole country and would still be under water.
    Sep 13 12:16 PM | 1 Like Like |Link to Comment