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  • Barron's Alan Abelson asks for a little discretion from those ready to slam the door behind departing Obama aide Larry Summers: "Whatever Larry's flaws, it isn't every man who can boast of having screwed up the economy under two presidents." (via)  [View news story]
    I would compare it to the neighbors dog taking a dump on my lawn. When I complain, the neighbor responds, " He chooses to dump wherever he wants, I've trained him to be the smartest dog on the block but since he's a pure breed ...he doesn't think he's at fault for destroying what others call freedom from tyranny." So I'm forced to buy some antifreeze
    Sep 25, 2010. 07:24 PM | 3 Likes Like |Link to Comment
  • Investors continue to dump domestic mutual funds in favor of bonds, shedding $2.2B in the week ended Sept. 8 and marking the 19th consecutive week of outflows. September has experienced nearly $10B in outflows, even as the market has jumped more than 6%.  [View news story]
    So this is what an implosion feels like....what next break the buck!!!
    Sep 15, 2010. 07:33 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Must-Know News [View article]
    Ultimately the shakedown will be of anyone who uses energy and the talking heads will get their bonuses before the final bill is brought to the table.
    Jul 7, 2010. 09:45 AM | 4 Likes Like |Link to Comment
  • U.S. taxpayers are already on the hook for about $145B in housing losses connected to Fannie Mae (FNM -5%) and Freddie Mac (FRE -5.5%) loans. But that number could balloon to $400B, and if housing prices fall further, up to $1T.  [View news story]
    Barney say's..These two entity's are not in crisis
    Jun 29, 2010. 11:51 AM | Likes Like |Link to Comment
  • Paul Krugman: "We are now, I fear, in the early stages of a third depression... And this third depression will be primarily a failure of policy. Around the world - most recently at last weekend’s deeply discouraging G-20 meeting - governments are obsessing about inflation when the real threat is deflation, preaching the need for belt-tightening when the real problem is inadequate spending."  [View news story]
    Take your meds ....MAN
    Jun 28, 2010. 10:26 AM | Likes Like |Link to Comment
  • Another day, more bleeding from BP's (BP -7.2%) share price, which is now back to 1997 levels. Forty-three House members in a joint letter have called on the company to suspend its dividend and stop advertising, and to spend that money on cleanup instead. (earlier)  [View news story]
    Easy on the House Members...they probably didn't know what they were signing. Thank god for interns
    Jun 9, 2010. 01:22 PM | 3 Likes Like |Link to Comment
  • Eight officials charged in connection with Union Carbide's 1984 Bhopal gas leak have been found guilty of "death by negligence" by a district court, Indian news channels say. The accident killed thousands and left many more with lifelong medical problems.  [View news story]
    The Judicial system was just found guilty of gross incompetence
    Jun 7, 2010. 11:01 AM | Likes Like |Link to Comment
  • Bank of America (BAC) and Citigroup (C) both incorrectly hid billions of dollars of debt from investors by 'accidentally' classifying some short-term repurchase agreements, or "repos," as sales instead of borrowing. The disclosures were made in recent filings with securities regulators.  [View news story]
    The counterparty accidentally took the other end with the stipulation to return them accidentally to the bank.
    an unforseen or unexpected event.....hmmm
    May 27, 2010. 07:58 AM | 1 Like Like |Link to Comment
  • Richmond Fed President Jeffrey Lacker says the perception that the U.S. government would not let the biggest financial institutions fail laid the groundwork for the crisis. "The incentives created by the financial safety net were the chief cause of the crisis... not solely or even primarily insufficient regulation."  [View news story]
    A member speaks the out for the cement shoes Mr. Lacker until we can get more support for your wisdom.

    "That man is richest whose pleasures are the cheapest"
    May 26, 2010. 06:23 PM | 1 Like Like |Link to Comment
  • Who do you trust: Bernanke or the markets? Bernanke's rosy economic view conflicts with reality, Michael Pento says, and stocks and commodities are casting their votes. The Fed's failure to listen to the markets is the key reason for its "miserable record" of economic projections. "For the betterment of the nation, the next appointment to serve at the Fed should be someone from a trading pit and not from Princeton."  [View news story]
    I vote for Rick Santelli ...not sure which school he drank at though.
    May 24, 2010. 09:45 PM | 2 Likes Like |Link to Comment
  • U.S. housing is still a "very sick system" that needs private capital, says FHA Commissioner David Stevens. FHA loans in the first quarter surpassed those done through Fannie Mae (FNM) and Freddie Mac (FRE) combined: "Let's be real. It's still a government-financed market."  [View news story]
    I'm sure Wells Fargo would like to help Mr. Stevens but the enablers have a duty to provide bonuses.
    May 24, 2010. 12:11 PM | Likes Like |Link to Comment
  • The Senate's 'Faux' Financial Reform Bill [View article]
    Your tax dollars paid for this victory and todays market rise, it gives you a warm feeling in the pit of your stomach. As mutual funds and money market outflows increase these people will have such a thin market that a HFT wanna be can shut down the entire system.
    May 21, 2010. 04:57 PM | 2 Likes Like |Link to Comment
  • Why We Need the Merkley-Levin Amendment [View article]
    America's Ten Most Corrupt Capitalist
    May 19, 2010. 04:48 PM | 2 Likes Like |Link to Comment
  • Why We Need the Merkley-Levin Amendment [View article]
    The guy that caused the disaster writes a bill to......"Fix it"
    Is Barney's slobber all over it, Too
    My Fix: Glass Steagall repeal.....Criminal accountability for CEO's and Boards and actually put Jamie Dimon or Ken Lewis in jail.
    Edit : The Government is complicit in their undertakings so thats not a reality
    May 19, 2010. 04:35 PM | 4 Likes Like |Link to Comment
  • Investors should "avoid financials at all costs, particularly in the banking sector" because financial reform legislation will restrict credit and hurt earnings, Meredith Whitney says. New credit card rules in the Senate bill will "make accessing capital so difficult for pockets of the country," she says, particularly for small businesses that often depend on credit cards for funding. (more)  [View news story]
    My business comes to a grinding halt before I use CC's
    May 17, 2010. 07:16 PM | Likes Like |Link to Comment