Treasury and Fed Strong Armed Bank of America [View article]
I hope Cuomo rides this straight into the history books.
Lewis needs to prove that he was under duress for his fig leaf. I'm certainly willing to give him immunity from criminal charges if he sings loud and clear.
Cuomo's Revelation: Bernanke and Paulson Strongarmed BofA's Purchase of Merrill [View article]
Let's see ... the definition on findlaw.com for:
"Aiding and Abetting/Accessory .. is ——————————————————————... A criminal charge of aiding and abetting or accessory can usually be brought against anyone who helps in the commission of a crime, though legal distinctions vary by state. A person charged with aiding and abetting or accessory is usually not present when the crime itself is committed, but he or she has knowledge of the crime before or after the fact, and may assist in its commission through advice, actions, or financial support. Depending on the degree of involvement, the offender’s participation in the crime may rise to the level of conspiracy.
For example, Andy draws a floor plan of a bank, knowing of Dan’s intention to rob it. After Dan commits the robbery, Alice agrees to let him store the stolen money at her house. Both Andy and Alice can be charged with aiding and abetting, or acting as accessories to the robbery.
Read more: Accomplices, Accessories, Aiders, and Abettors"
The ends do not justify the means.
A membership in the FEDury does not give you a "get out of jail free card."
Are We Due for Another Surge of Bad News in Labor Market? [View article]
My entrepreneur radar is set to sensitive. From a historical perspective times of upheaval, like now, present opportunities as old technology/business models get struck down and new little guys are able to make new technology and business models.
Swampreport showed that if Easter week's numbers were down, the week afterward would most likely be bigger by 9000+.
And ... once again they added a little taste of seasonal djustment. Want to bet that in 6 months when they announce their final adjustments the dip evaporates?
The Politics of Personality: Getting Geithner [View article]
No more funny stuff. The Fed is not running this country. A group of bankers with inherent conflicts of interest cannot be allowed to flagrantly attempt to manipulate our “animal spirits” to our own personal detriment.
This is a freight train coming and ladies and gentlemen … we – you and I – had better get in front of it.
NY's Attorney General indication of interest in the intricacies of the dealings of the Fed,Treasury and BofA are a dad gum stop sign. Cuomo's letter to Congress is an incendiary device. Congress, Republican and Democrats, and the Obama Administration had better be part of the solution because those who get tagged as part of the problem are going to get run over by the populous.
The damage being inflected by the banking industry's bad boys on the general economy has to be stopped. No more stalling for time while you manipulate information, obfuscate, and strong arm people into behavior that is NOT in their personal best interest.
The paralysis that these delay tactics is killing the rest of the country. The number of companies who are hanging on by their fingernails is escalating. The rest of the economy simply can't wait/tough it out.
This dog won't hunt. Stop trading. Send everybody home for a brief holiday and open up under new management. Swept the toxic assets in to a pile where we will at our leisure decide whether they have any value or not.
In the mean time the rest of us poor saps will go about getting this country going the old fashion way – by working hard.
Mr. Cuomo this is your moment to shine. Step up to the microphone and demand information. Leave no stone unturned. No one is exempt.
And then of course you have the GM 9 week plant closures coming up.
This engineered soft landing is beginning to hurt.
My point? The longer the FEDury attempts to buy time for the bankers the more opportunity for other economic shoes to fall.
The bank rescue is putting the general economy in jeopardy. It's dragging down the rest of the economy and as a result we're now in the process of creating zombie companies and zombie unemployed.
We've got to put American biggest asset to work -- it people.
The Many Ways TARP Is Misguided Continue to Pile Up [View article]
Now there you go being responsible.
Geithner, Summers et al, AKA the FEDury, would have to admit they were wrong. Smart folks some times have a problem with that. An Achilles Heel if ever there was one.
And then CT's out there might posit -- maybe there are too many skeletons out there for them to come clean voluntarily.
Let's see ... We'll probably need another trillion $'s over the next 6 months or so. Do you suppose the percentages of US debt ownership will stay the same?
Personally ... I'm thinking China is going to skip the opportunity to double down.
I guess that means the money's going to have to come from somewhere else -- perhaps all those mean ole, stupid, unpatriotic American savers will step up.
In the Eye of the Banking Hurricane [View article]
Strength in numbers. The majority of banks are OK. That's because the majority of banks didn't participate in ... gee ... what do you call it ... horse manure spreading?
My understanding is these good bankers are beginning to get pissed. Their integrity has been impinged. Their livelihoods are threatened. And ... they're not really interested in taking one for the team.
A point on bad loans and competition. My understanding is that good banks not having the competitive advantage of being quazi-backed by the government weren't able to and thus didn't participate in all the bad lending practices to the residential market. As a result, they focused on commercial loans were service and such made a difference. And thus at least some of these guys are set up for hard times if the commercial real estate market does actually fall apart as prognosticated.
I'd like to suggest that for FEDury folks that we change the way their "blind" trusts are handled. I think they need to invest in a weighted fund that strives to mirror exactly what these guys are recommending that you and I do -- invest in banks stocks and such with their own money.
Take That, Paulson: Finally, One for the Good Guys [View article]
And Geithner had better start answering questions or we might just have to impeach the SH.
The Federal Reserve Is Suffering in Silence [View article]
I've run out of sugar and can't make lemonaide out of this swell.
Cuomo's Revelation: Bernanke and Paulson Strongarmed BofA's Purchase of Merrill [View article]
Where Are Markets Now? Technical, Fundamental and Valuation Reference Points [View article]
Prehaps the better question is what will they not do?
Treasury and Fed Strong Armed Bank of America [View article]
Lewis needs to prove that he was under duress for his fig leaf. I'm certainly willing to give him immunity from criminal charges if he sings loud and clear.
Cuomo's Revelation: Bernanke and Paulson Strongarmed BofA's Purchase of Merrill [View article]
"Aiding and Abetting/Accessory .. is
——————————————————————...
A criminal charge of aiding and abetting or accessory can usually be brought against anyone who helps in the commission of a crime, though legal distinctions vary by state. A person charged with aiding and abetting or accessory is usually not present when the crime itself is committed, but he or she has knowledge of the crime before or after the fact, and may assist in its commission through advice, actions, or financial support. Depending on the degree of involvement, the offender’s participation in the crime may rise to the level of conspiracy.
For example, Andy draws a floor plan of a bank, knowing of Dan’s intention to rob it. After Dan commits the robbery, Alice agrees to let him store the stolen money at her house. Both Andy and Alice can be charged with aiding and abetting, or acting as accessories to the robbery.
Read more: Accomplices, Accessories, Aiders, and Abettors"
The ends do not justify the means.
A membership in the FEDury does not give you a "get out of jail free card."
Sorry to tell ya'll but this isn't a game.
Where Simon Johnson May Be Wrong [View article]
If he doesn't then ... too bad.
I'm waiting for the change Mr. Obama.
Are We Due for Another Surge of Bad News in Labor Market? [View article]
Jobless Claims: Still Really Bad [View article]
And ... once again they added a little taste of seasonal djustment. Want to bet that in 6 months when they announce their final adjustments the dip evaporates?
The Politics of Personality: Getting Geithner [View article]
This is a freight train coming and ladies and gentlemen … we – you and I – had better get in front of it.
NY's Attorney General indication of interest in the intricacies of the dealings of the Fed,Treasury and BofA are a dad gum stop sign. Cuomo's letter to Congress is an incendiary device. Congress, Republican and Democrats, and the Obama Administration had better be part of the solution because those who get tagged as part of the problem are going to get run over by the populous.
The damage being inflected by the banking industry's bad boys on the general economy has to be stopped. No more stalling for time while you manipulate information, obfuscate, and strong arm people into behavior that is NOT in their personal best interest.
The paralysis that these delay tactics is killing the rest of the country. The number of companies who are hanging on by their fingernails is escalating. The rest of the economy simply can't wait/tough it out.
This dog won't hunt. Stop trading. Send everybody home for a brief holiday and open up under new management. Swept the toxic assets in to a pile where we will at our leisure decide whether they have any value or not.
In the mean time the rest of us poor saps will go about getting this country going the old fashion way – by working hard.
Mr. Cuomo this is your moment to shine. Step up to the microphone and demand information. Leave no stone unturned. No one is exempt.
Evidence That End of Housing Price Collapse Is Not Far Off [View article]
The FEDury's soft landing is consuming time and as we all know -- time is money.
In the case of companies that are on one or more bankruptcy lists time is really expensive. They're losing more and more each day.
It is also making possible problems in AltA, prime mortgages and commercial real estate more probable.
I wish it would bottom, but I don't see it happening any time soon.
Jobless Claims: Still Really Bad [View article]
This engineered soft landing is beginning to hurt.
My point? The longer the FEDury attempts to buy time for the bankers the more opportunity for other economic shoes to fall.
The bank rescue is putting the general economy in jeopardy. It's dragging down the rest of the economy and as a result we're now in the process of creating zombie companies and zombie unemployed.
We've got to put American biggest asset to work -- it people.
The Many Ways TARP Is Misguided Continue to Pile Up [View article]
Geithner, Summers et al, AKA the FEDury, would have to admit they were wrong. Smart folks some times have a problem with that. An Achilles Heel if ever there was one.
And then CT's out there might posit -- maybe there are too many skeletons out there for them to come clean voluntarily.
Who Holds Our Treasury Debt? [View article]
Personally ... I'm thinking China is going to skip the opportunity to double down.
I guess that means the money's going to have to come from somewhere else -- perhaps all those mean ole, stupid, unpatriotic American savers will step up.
Naw... the printing press is much easier.
In the Eye of the Banking Hurricane [View article]
My understanding is these good bankers are beginning to get pissed. Their integrity has been impinged. Their livelihoods are threatened. And ... they're not really interested in taking one for the team.
A point on bad loans and competition. My understanding is that good banks not having the competitive advantage of being quazi-backed by the government weren't able to and thus didn't participate in all the bad lending practices to the residential market. As a result, they focused on commercial loans were service and such made a difference. And thus at least some of these guys are set up for hard times if the commercial real estate market does actually fall apart as prognosticated.
I'd like to suggest that for FEDury folks that we change the way their "blind" trusts are handled. I think they need to invest in a weighted fund that strives to mirror exactly what these guys are recommending that you and I do -- invest in banks stocks and such with their own money.
I want to see their skin in the game.