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Ted Bear

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  • Senate Republicans block amendments to Keystone bill [View news story]

    WASHINGTON, D.C. – The League of Conservation Voters (LCV) Victory Fund today launched a new television ad in the New Hampshire Senate race highlighting how the out-of-state billionaire Koch Brothers are backing millions of dollars in attack ads to defeat Senator Jeanne Shaheen and elect carpetbagger Scott Brown in November so he can continue to do their bidding in Washington. The ad, “Billionaires,” begins airing this week across New Hampshire.

    “It’s no surprise that the out-of-state oil billionaire Koch Brothers are behind a multimillion dollar ad campaign to defeat Jeanne Shaheen and send one of Big Oil’s best friends back to the Senate. They know Scott Brown will continue where he left off by protecting oil industry profits at the expense of taxpayers and public health,” said Daniel J. Weiss, LCV Victory Fund Senior Vice President for Campaigns.

    The ad highlights the Koch Brothers’ false attack ads against Senator Jeanne Shaheen to help elect their ally, Scott Brown, to the Senate. Brown sided with Big Oil and the Koch Brothers by repeatedly voting to give billions of dollars annually in special taxpayer-funded subsidies to the nation’s most profitable oil companies at a time of record profits for the industry. Documentation on Brown’s record and the ad can be found here.

    Despite their repeated claims to the contrary, the Koch Brothers and their front group, Americans for Prosperity, have worked to keep these oil industry giveaways on the books to pad their bottom line.

    LCV launched a $200,000 television ad campaign earlier this year highlighting Brown’s votes to protect Big Oil’s taxpayer-funded hand-outs just weeks after receiving thousands of dollars in campaign contributions from oil companies. He’s received $454,260 in campaign cash from oil and gas companies over the course of his political career.

    In fact, only two Senators received more money than Brown from the oil and gas industry during the 2012 election cycle. Last week, 2012 GOP presidential nominee Mitt Romney endorsed Brown for Senate. During his presidential campaign, Romney proposed giving big oil companies billions of dollars more in taxpayer handouts.

    In 2012, LCV launched mail and field programs to help defeat Brown in Massachusetts, spending more than $1.1 million in the race. LCV Action Fund also raised or contributed more than $134,000 to Elizabeth Warren through its GiveGreen program, the only bundling website devoted exclusively to raising money for environmental champions and candidates.

    Brown’s voting record earned him a feeble 38% lifetime score on LCV’s National Environmental Scorecard. The non-partisan Scorecard is a nationally accepted yardstick used to rate members of Congress on environmental and clean energy issues. Based on key environmental votes in the House and Senate, it is often used by the media to quickly describe a Member’s position. For more information, visit scorecard.

    # # #

    Republican politicians joined forces with the Koch billionaires to push the project. The Kochs are a huge energy combine and the biggest leaseholder in the Alberta region where tar sands are extracted. Canadian experts say they'll be a huge beneficiary from Keystone because it will encourage a general rise in tar sand production in Canada.

    Just Google "Koch fund republicans for Keystone Pipeline" and you will get hundreds of detailed articles on what the Koch brothers spent to buy Republican politicians in exchange for their "yes" vote on Keystone.
    Jan 20, 2015. 09:08 PM | 3 Likes Like |Link to Comment
  • Senate Republicans block amendments to Keystone bill [View news story]
    That should make the Koch Brothers very happy. They bought and paid for this Congress and expect nothing less than all of their demands to be met.
    Jan 20, 2015. 07:28 PM | 4 Likes Like |Link to Comment
  • Apple: Why So Bearish? [View article]
    There seems to be a solid consensus around the Street (which, incidentally, has hardly ever come within a mile of getting their numbers correct in Apple) that the quarter is going to be really good.

    There is also a reminder that part of the reason that the shares did so well was financial engineering. That produced a nice short term game for the hedgies, but doesn't do much for the long term holders.

    And lastly...and most importantly, Apple's pipeline is slowing. After Apple Pay, in which they are going up against a well established gang that controls that industry, there isn't much going on--unless you think the i-watch is suddenly going to change the world.

    The shares? Pretty fully priced, and over-owned. We need new buyers to get the thing going, and that group has yet to be identified.
    Jan 20, 2015. 01:59 PM | Likes Like |Link to Comment
  • Citi reportedly loses more than $150M on Swiss franc move [View news story]
    ...and this was just a teeny, tiny hiccup of some of the stuff on their balance sheet. Imagine if it was one of their MAJOR derivative positions. It could easily be $1.5 billion.....or a LOT more.

    That's why you don't believe their BS about what they own, and why you don't buy these stocks except when they are on sale--like at 10% of the current market price.
    Jan 16, 2015. 03:03 PM | Likes Like |Link to Comment
  • Continental CEO Hamm pledges stock as collateral for personal loan [View news story]
    Lawyer's got to eat.
    Jan 14, 2015. 08:00 PM | 2 Likes Like |Link to Comment
  • Citi: No Longer The Dumbest Bank- Now The Most Evil [View article]
    It really is quite somple:

    Put the "assets" on the balance sheet.

    Mark them to market.

    If anything left is greater than zero, that is what Citi is worth.

    I hate to quote Warren's tired old cliche, but we won't know who is worthless until the tide goes out.

    Until then, they are all bragging about how many fees ("operating earnings")they have been able to squeeze from their lemmings.
    Jan 12, 2015. 08:01 AM | 2 Likes Like |Link to Comment
  • Fed's good times coming to a close [View news story]
    Well, I don't see anything close to Inflation.

    If anything, I see deflation, something the Fed has done everything possible to avoid, but they still have been hooked by declining prices. As Bernanke said on the way out the door: "The risk of deflation is equal to, or greater than, the risk of Inflation".

    But whole generations have been trained to "think" Inflation. It simply is not happening.

    But, I do have a question: In the text of this article, it says two things: The "growth of the deficit has been restrained" by the Feds contribution. Okay, I understand that is possible.

    The second sentence goes on to say that deficits have been "cut" by 8%..... My understanding is that the Federal Deficit grew by about a half trillion last year, and is forecast to grow by a similar amount in this fiscal year.

    Did the original author misspeak and mean to say "growth in the deficit has been cut by 8%"....?????
    Jan 11, 2015. 02:14 PM | Likes Like |Link to Comment
  • CCAR 2015: Will The Fed Single Out Citigroup Once Again? [View article]
    TBV...Ha, ha.

    You can't touch these zombie banks (unless you enjoy the risk of the bottom falling out at any moment) until they bring ALL of their assets back to the balance sheet, mark them to market, and compare that to primary capital.

    Otherwise, any hiccup in, for example, the derivatives portfolio, will wipe them out in a nanosecond.

    (Yes, i understand that this is an old fashioned idea that no longer matters to today's money managers...until it does).
    Jan 6, 2015. 07:55 AM | 1 Like Like |Link to Comment
  • U.S. Senate puts Keystone pipeline bill on fast track [View news story]
    Hate to be on the owning side of that white elephant about now.

    In this environment, it will never get built. World awash in oil/gas as supply soars and economies slow down, price collapsing, and bond market telling us a HUGE deflationary spiral is on our doorstep.

    Good time to be adding hard assets.

    Jan 2, 2015. 05:28 PM | 2 Likes Like |Link to Comment
  • New York state to ban fracking, citing health concerns [View news story]
    Or the rest of the country should try selling their excess gas on the open market.
    Dec 17, 2014. 08:02 PM | Likes Like |Link to Comment
  • New York state to ban fracking, citing health concerns [View news story]
    So...NY has clean water...LOTS of it in Erie and Ontario, as well as many large regional lakes.

    How 'bout we make a deal: You keep fracking, and we'll keep our water. Let's see who calls who first.
    Dec 17, 2014. 04:16 PM | 3 Likes Like |Link to Comment
  • New York state to ban fracking, citing health concerns [View news story]
    One small step for Man; one giant leap for Mankind.
    Dec 17, 2014. 02:21 PM | 12 Likes Like |Link to Comment
  • Whole Foods Market pushes near $50 amid takeover chatter [View news story]
    How funny is that....the penultimate run-of-the-mill grocery store taking over the (supposedly) high end Whole Foods? That will be a good-will write-off of epic proportions!
    Dec 15, 2014. 02:28 PM | 2 Likes Like |Link to Comment
  • Things could get interesting overnight [View news story]
    I think you need to re-evaluate the guys who have created the excess and are producing at the high cost margin...the shale guys.

    And how does that work out for the folks who were getting the royalty checks? Another nail in the coffin of "cheap" oil isn't all that it is cracked (excuse the just slipped in there) up to be.

    Rhetorically, I wonder if "oil" or "retail" are bigger industries???
    Dec 11, 2014. 05:28 PM | 1 Like Like |Link to Comment
  • Things could get interesting overnight [View news story] oil is supposed to be good, isn't it?

    Unless you are part of the HUGE Industry which sells it.

    And what about those wars we have going on so we can protect America's Corporate Oil Interests? Can we call them off now? What an economic hit that would be!
    Dec 11, 2014. 05:13 PM | 2 Likes Like |Link to Comment