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  • Wall Street Breakfast: China Shares Extend Bull Run [View article]
    Bob123 - Ha, Ha....I can just imagine the 99% trying to run Walmart or JP Morgan. If the 99% today killed all the remaining 1%, the world would probably starve in 6 months.
    Apr 22, 2015. 06:48 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    I think Lois Lerner will be CFO of Jon's new hedge fund.
    Apr 20, 2015. 04:18 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    And another recap of the incest of this whole debacle:

    REVEALED - Corzine’s MF Global Was Client of Eric Holder’s Law Firm
    by Wynton Hall-26 Jul 2012, 6:24 AM PDT

    "Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling.

    There’s more.

    Records also reveal that MF Global’s trustee for the Chapter 11 bankruptcy retained as its general bankruptcy counsel Morrison & Foerester--the very law firm from which Associate Attorney General Tony West came to DOJ.

    And more.

    As Government Accountability Institute President Peter Schweizer explains in the Washington Times Thursday, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh. At Holder’s Senate confirmation hearing Freeh served as a character witness for Holder and revealed that Holder had previously worked for Freeh. “As general counsel,” Freeh said, “I could have engaged any lawyer in America to represent our bank. I chose Eric.”

    WMARKW- "I wonder how many "chosen" ones there are."
    Apr 20, 2015. 04:14 PM | 5 Likes Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    Ah it is. For your reading enjoyment...

    The Road Not Taken
    Attributed to J. Corzine

    Two roads diverged in the business world,
    Devoid of morals, I could only travel one.
    Thus for me there was no hurdle
    As I looked down the one so fertile
    Because stealing is so darn much fun.

    I could have taken the other road,
    But with the years the heart was set.
    No sense in carrying a guilty load,
    Guilt will make your head explode.
    Just best to take what you can get.

    With years of practice the path is known
    The lawyers and regulators are not so tough
    Their talk of “right is might,” so overblown
    Their morals have also easily flown;
    Versus money, right is never enough.

    I shall be telling this with a sigh
    Somewhere many years when old.
    Two roads diverged, no real choice, and I –
    I took the one most traveled by,
    Men whose hearts are set on gold.
    Apr 20, 2015. 04:11 PM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: China Moves Again To Fight Slowdown [View article]
    Well, maybe Jon has been taking on-line courses in money and banking and learning all the rules that he didn't quite seem to know or understand, last time he was involved with the MF scandal. Seems he forgot about (oops didn't know) that it was against the rules to use clients money for "certain" kinds of activities. Oh well, the man without shame...

    Reminds me of a poem written about Corzine some time ago...a take on "The Road Less Traveled"... Mr. Corzine is back on the path again. I'll have to see if I can resurrect that pesky poem.
    Apr 20, 2015. 09:21 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Nokia Seals $16.6B Alcatel-Lucent Deal [View article]
    Richard - you didn't answer my question about "special monetary privileges". I suspect you don't have an answer. There are reasons, for example that dividends are taxed at a lower rate than ordinary income. There are reasons for differences in long term and short term capital gains.

    There are many good reasons for no inheritance tax at all. I don't suspect you can find a listing of people who inherited their wealth as opposed to those who created it, like Zuckerberg, Gates, Buffet, et al. There are more millionaires created each year because of business formation and expansion and going public than there are by inheritance (I have no stats, but I'd bet $1,000 on it). The premise that there are a lot of people who inherited wealth who do nothing is bogus. The inheritance taxes make short work of a large estate over 2 generations when there are 3 or 4 kids involved in each family(s).

    If you look at Inc. 500 companies and look at founders, you will find the absolute vast majority of those people started their companies from scratch. I have posted on this before.

    People who work and are fortunate enough to escape the confiscatory arm of the federal government, employed at the behest of the Federal Reserve, can have an opportunity to live a life of relative ease AFTER they retire. Most people, it would be my contention, work hard for a lot of years, and do not check out to a life of luxury at the age of 40. It's too hard to run a company and too much is at stake to not pay close attention.

    There is no such thing as "fair share".
    Apr 16, 2015. 03:27 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Nokia Seals $16.6B Alcatel-Lucent Deal [View article]
    Richard, when you say "sort of how special monetary privileges exist now for those who put their money at risk." could you be a little more specific about what you are really saying those "privileges" that exist are? You mean like:

    Progressive tax rates?
    Low Dividend tax rates?
    Low Long Term Capital Gains taxes?
    Depreciation allowance?
    Depletion allowance?

    Or what?
    Apr 15, 2015. 06:53 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Nokia Seals $16.6B Alcatel-Lucent Deal [View article]
    Wyo - no one looks back 3 - 5 years. There bask in the moment of the media miracle. Heck, they said this morning that the Millennial's don't even know what Benghazi was?
    Apr 15, 2015. 03:31 PM | 2 Likes Like |Link to Comment
  • Wall Street Breakfast: Nikkei Retreats From 15-Year High [View article]
    There's and old lake of salt in Utah from which they harvest salt to package and use for all different kinds of applications. The issue is not really de-salinization, but the unmitigated inability of the (what 7th or 8th largest economy in the world) to undertake actions that will benefit their population...oh, and don't worry, they'll have that high speed rail going in the next 20 or 40 years, regardless of the fact there will be no people there because they can't provide them food or water.

    Look at the state's budget and where they spend their money and the growth of spending vs. inflation.

    The concept of punishing a public utility financially is a take from one pocket concept (the company) only to put in the pocket of the government (the people) who actually granted the utility the right to operate and allow them to charge the people. The net effect of the punishment is zero on the public utility users - assuming the public will pay in higher rates for the penalty.
    Apr 10, 2015. 06:23 PM | Likes Like |Link to Comment
  • 15 Years Of Stimulus: Nothing To Show [View article]
    205427 - Agree. "Tax Inequalities"? What the heck does that mean. I am writing a check to make up the difference in what I owe to IRS this weekend. My tax bill is equivalent to a living wage for a two person family. But then again, I am making up for my two daughters who contribute nothing.
    Apr 10, 2015. 09:06 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Nikkei Retreats From 15-Year High [View article]
    No, its just another stupid, moronic move that is ill thought. Consider first that the PUC grants the monopoly power to PG&E in the first place to provide utilities. Those utilities are paid for by the public. Thus the public is punishing THEMSELVES? Really? But then again, they have a drought in California, because they can't figure out how to build reservoirs and water retention infrastructure. So then again, they punish themselves for their own stupidity. I guess it's too hard to take the salt out of the ocean they live next to.
    Apr 10, 2015. 09:02 AM | 15 Likes Like |Link to Comment
  • Wall Street Breakfast: China Growth Worries Surface Again [View article]
    BlueOkie...below you will find a list of Obama's accomplishments:
    Mar 26, 2015. 12:39 PM | Likes Like |Link to Comment
  • Wall Street Breakfast: Crude Surges On Yemen Tensions [View article]
    ggl - the only ones Obama has not thrown under the bus are the Muslims, in particular the radical kind. Otherwise his net has been thrown wide. The list is long, including police, US allies, conservative non-profits, etc, etc. Hard really to understand what this man/regime stands FOR.
    Mar 26, 2015. 12:30 PM | 3 Likes Like |Link to Comment
  • Bill Gross: Going To The Dogs [View article]
    DavidLMO - insurers are in a dangerous trap. The have to have minimum returns to fund claims. If returns go down, all their stats go in the trash and I would hate to be one relying on the ability of the insurance company to pay up when I have a claim.
    Mar 25, 2015. 07:44 PM | Likes Like |Link to Comment
  • John Hussman: Monetary Policy And The Economy: The Case For Rules Vs. Discretion [View article]
    Have you ever read and studied Hussman's analysis from a quantitative perspective?
    Mar 24, 2015. 07:58 PM | Likes Like |Link to Comment