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Crimes of Banking: Optimal Deterrence

I wish people would stop talking about the bankers as if they were actually human beings, because they are not and should not be treated as such. I will quote from the FT today regarding the consumer protection watchdog.

"banks are lobbying furiously to stop the consumer Financial Protection Agency's creation o to remove it most sweeping powers, which include forcing brokers and banks to offer simpler mortgages and credit cards alongside other products."

Considering all they have gotten, all they have gotten away with, endangering the dollar, our national budget, and causing more harm than Osama bin Laden one would think that what is being asked for in return is reasonable. But nothing is reasonable to these animals. It doesn't matter what or how much you give them they always want even more.

They should be treated like the sick animals they are and just put down for the sake of society.

62% Is the Magic Number

what happens when the stock price is out of line regarding earnings. they go up on good earnings, but are already higher than they should be. It is all just a joke.

NYSE Issues Correction in Goldman's Trading Volume: Anything Else We Should Know?

Good work everyone. I hope you are passing on this stuff to friends so they can have an idea of what is really going on. It has become clear that our government will only respond to popular anger and it is therefore crucial to keep sending those e-mails to those in washington who need to know we are watching and will take it out in the voting booth.

We are even starting to get some traction in the mainstream media, and I hpe tyler will come out with a nice big article once goldman publishes its earnings, so the world can see they make their money manipulating the market at the tax payers expense.

Strange how they have their most profitable year at the time the market has dropped faster than in any period in history. could it be because they designed it to happen.

Bankslaughter

lobby money!!!


On Jul 09 03:47 PM D_Virginia wrote:

> On Jul 09 03:26 PM Whippet wrote:

Bankslaughter

I didn't get to read all the responses, but as a doctor it sounds very reasonsable to me. If I cause injury and that injury is the result of careless or negligent practice I am guilty of malpractice, if bad enough it is a crime, and I have to pay off from the damages.

You can't tell me that most of what these folks did flies in the face of everything a good banker is taught. Don't loan money to people with no income and no jobs, don't sell shit to people you know is poison. these people own our government, and their crimes go unpunished. this is why it is time for a bit of popular anger and demonstration that there are actual limits to how badly you can treat the people who elect you.

While we sit here and debate what is right and wrong these people get away with crimes. We all know in our hearts there is something wrong in a system that allows people to make billions making others destitute or homeless. There is something wrong in a system that lets a manager become a billionare when those when invested with him are left paupers. The idea that there isn't something wrong flies in the face of common sense.

I can think of no better example than Mr. Pandit. His hedge fund blows up, cost his company a fortune and then he becomes the head of citi. Which of course is also a major failure Despite what he says he is one of the highers paid folks on wall street. Wall street has games the system into something perverse. they pretend they make money for shareholders and investors, yet in fact it is an industry designed to separate their clients from their money and give it to themselves regardless of outcome. It isn't abut he best and brightest (although I am sure they are smart) the test is really do you have a soul. I can assure you those with a soul who have a problem with an objectionable practice that makes money for the firm do not stay there long, and do not become partners.

Does Felix Have Criminal Tendencies?

I find the whole issue funny. All someone needs to do is just look at the outcome and the answer is clear. derivatives, securisation leads to being careless with risk and playing games. Make a company bankrupt and short it's stock so the CDS contracts will pay off. (Goldman). Package shit and sell it off.

One would think listening to these people that the world did not exist before all this financial innovation. What they label as innovation is really a way to reduce capital requirements and increase leverage thereby increasing salary and bonus.

I don't know if it that they lie so much they actually believe themselves, or they lie and they know it. Notice how every thing needed to fix the economy in a banker's view just happens to increase their salary, involves government giving them a free luch, and costs the taxpayer.

Fecal matter comes from their mouths. It is just one big game. Notice how each and every argument involves how I will suffer if they don't get what they want. Strange, and always the same playbook

Thursday Outlook: Commodities, Global Markets

Your comments at this time are not factually correct. There is a great deal of consensus. This is like saying there is no consensus on evolution.

I am not here to debate what policy should be, but this is a distortion promoted by industry and people with a political agenda mostly. the same way Phillip Morris said their products did not cause cancer.

This is clear a multifactoral issue and that anything deaing with the total world as a petri dish is very complex.

You need to actually do some research, because volcano's cause global cooling. The clouds and particles reflect sunlight back into space. I believe krakatoa caused a hug very cold winter in europe for a couple years, but It may have actually been another volcano.

If you do not know the science or the issue, don't comment because there are people out there who will believe you.

Glaciers feed streams that depend on the amount of snow in the mountains. less snow, less streams. this is causing huge problems for people who depend on the glaciers in south america.
But, once more, complex issue. As earth warms more water in atmosphere and some place could actually see more snow, with increased melting at same time.

My advice, buy some land in canada in an area with out too much population around it, and a good water supply.

My own theory is that the reason we hav not found intelligent life on other planets is because they tend to kill themselves off quickly in the cosmic scheme. after all we went from radio waves to the ability to destroy our self in about a 100 years. How many millions were the dinosaurs around for. Intelligence is an evolutionary dead end, which is why the universe isn't full of little green aliens. rapid travel allows disease to spread, nukes, genetic engineering, or the ability to alter the environment faster than we can adjust for it, or use resources. The nature of every living organism is to expand until it runs out of resources, or something takes out numbers. What will be the limiting factor I have no idea.

But it will happen


On Jul 09 09:13 AM robert.b.ferguson wrote:

> There is no consensus among rational scientists on this issue. The
> notion that industrial activity is driving the warming cycle is rediculous.
> In case you didn't notice the glaciers began melting before the industrial
> revolution ending the last (not the first) ice age. Add to that the
> fact that every volcanic eruption of MT. ST. Hellens magnitude or
> greater puts more pollutants and green house gas into the atmousphere
> than our species has in it's entire history and the picture is much
> different. Even if we could stop global warming it probably wouldn't
> be a good idea. Glaciation recharges aquafers in the northern hemisphere.
> That would be like keeping hurricanes from hitting the North American
> coast, you wouldn't sustain storm damage but you would cause massive
> drought. Lets not inject wierd science into this.

Capital One's Unadjusted Charge-Off Rate Hits Record 9.91%

1)May I suggest you read the stated intent of zero hedge. His posts are consistent with the philosophy the group has.
2) there are many social commentary pundits on this site. James quinn, baseline scenario, etc.
3)I like having someone out other actually looking at what gets reported by the financial press and giving it a deal of scrutiny. Does the public understand that the treasury auctions are failing and that only the fed is buying? do they understand what this means for the dollar, deficit, and inflation. I don't see this crap on CNBC or MSNBC and hence even if Mr. Durden makes some errors I would not trade him for the world.

If you want to go over your post and explain why this is a good investment please do so. What I see overall is massive manipulation of equity and bond markets that distort the economic realities of what is really happening. I also see a government that appears determined to work against the American people for the benefit of wall street lobby money and themselves.

So regardless of you position, and I'd love a few good stock picks, getting the word out to big media of what is really going on makes this blog one of the best out there.

Tyler, any further word about the fed buying stocks?


On Jun 16 06:35 AM ValueInvestor13 wrote:

> "It's financial information about trends. If you don't understand
> how to use it to your advantage, don't read it. I think it's pretty
> obvious this is a macro-styled post and not just about the minutae
> of where COF is going in the next 5 days."
>
> I think it's clear from "Tyler Durden's" history on Capital One he
> doesn't understand how to analyze a financial services company. "Seeking
> Alpha" is nominally about seeking outperformance. That being the
> idea, one should endeavor to understand, in the pursuit of an arbitrage,
> whether the phenomena one is describing in such data is properly
> discounted in the stock price of the company under discussion. This
> isn't "financial data description time," it's investing. It has been
> very well known and understood for months and quarters the charge-off
> rate would increase this year. The rate is not accelerating, by the
> way, but decelerating. FYI, Banyon and Mr. "Durden," the idea at
> this point in the cycle on credit financials is to look at the progression
> of delinquency rates and reserves. Net charge-offs are, like unemployment,
> trailing information.

Federal Reserve Open Market Operations: Week Ending June 12, 2009

despite what the fed says about the dollar and inflation I think we can conclude that their actions are designed to destroy the dollar and boost inflation.

This fo course benefits the bankers much more than society as a whole and the fed, being a consortium of private bankers, would be expected to do just that.

Financial Regulation: Too Much Consensus May Pull All Its Teeth

Thank you Mr. Kwak for starting to give the grief that is deserved. Just the idea that the man chosen by wall street to run the NY fed should be in charge to determining the regulatory framework should tell you the end result. Let us keep in mind that throughout this crisis the Obama team has backed down to wall street every chance it has got. The idea that a man of change has been elected has been proven false.

With 30-year mortgage rates now above 5.5% - a level which many predict will petrify new loan apps - Mike Shedlock wonders what Bernanke has planned for an encore: "What now Big Ben? You've already blown over a third of your $1.25T commitment, and all you have to show for it is more garbage on your balance sheet and a locked up refi market."

his actions have backfired on may fronts.


On Jun 11 06:37 PM Illusional Delusion wrote:

> Profitability is definitely not an issue for the banks based on the
> spread so far, but the illiquid housing is not going to get better
> for sure. If attracting more liquidity for housing is the key at
> the inflated housing prices (not that it is not cheap but perhaps
> not that attractive given the oversupply versus price), then yeah,
> Ben's plan backfired obviously.

Green Shoots Are Parched

The problem is that the "green shoots" were a mythin to being with . manufactured to imporve consumer confidence and approval rating within the adminstration. To also get retail investors to bail out the banks by buying stocks.


On Jun 11 10:19 AM thiazole wrote:

> You guys obviously don't understand what "green shoots" are. Green
> shoots happen when the rate of deterioration is moderating. That
> is why they are called shoots and not plants. If they happened when
> the GDP reversed to positive, they wouldn't be shoots since the recession
> would already be over. Green shoots are yesterday's news so I don't
> understand why bears keep bringing them up. It is like obsessing
> about Lehman Brothers. Water under the bridge. Get with the program.
> We are already starting to see the plants from the green shoots that
> indicate that GDP is on the verge of turning posititive.
>
> Yes, Obama is spewing terrible economic policy. Creating more government
> jobs to leach on the economy is never a good thing, but none of that
> has even happened yet but the cycle has already begun reversing.
> The economy will recovery IN SPITE of Obama. In fact, the GDP will
> probably be positive before hardly any of his "fixes" can even be
> incorporated. All his stimulus spending will do is prompt inflation.

Economic Data Roundup: Is This as Good as It's Going to Get?

expect volker is the only person who actually means what he says regarding the dollar. the fed is going to kill it and bring about inflation in order to restore the banks. There is a reason he has been marginalized by the current administration. it's because he is honest and can't be bought.

5 Reasons Why The Rally Won’t Last

this low volume rally will go on and on as long as those who are running it car allowed to. see frewqent stick saves, yesterday!!

5 Reasons Why The Rally Won’t Last

Yeah, lots of dumb comments, but I will say a manipulated market doesn't mean much.


On Jun 11 02:23 PM thiazole wrote:

> We have two spam posts above, but I'm the one that gets thumbs down.
> It shows you the quality of idiots on this forum. If it wasn't so
> fun to gloat at all the mindless bears here, I would have left this
> forum a long time ago.