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Old March 10th, 2009 #521
Gott
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Quote:
Originally Posted by Nick Succorso View Post


Looks like something out of a WW2 German propaganda poster!
Like niggers, they sure don't breed them for looks.
 
Old March 10th, 2009 #522
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A VNNer warned us in 2007
http://vnnforum.com/showpost.php?p=501409&postcount=10
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Old March 10th, 2009 #523
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Quote:
Originally Posted by deathtozog View Post
I with I knew who the author of this article is. He nailed everything that's happening today 2 years ago. The links not valid anymore. Be interesting to read what the guy says today.
 
Old March 10th, 2009 #524
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Apmex is having a special on Silver Buffalo rounds, 14.63 each brand new. That's the cheapest I've seen a silver round in a long time. I'm assuming the Buffalo's are not as desirable as the Eagles but I'm betting when the lemmings finally figure out the US dollar is toast the demand is going to be so great that you can sell everything with no problem.

http://www.apmex.com/Product/44447/1...m_medium=email



The New York Daily News had a story today about people accepting Liberty dollar 1oz silver rounds with a face value of 20 bucks a piece in stores in Manhattan.
http://www.nydailynews.com/money/200...ins_made_.html

Anyone have any opinions on the Buffalo rounds? I have a few already but most of my collection is uncirculated American Eagles. I don't think physical silver is going to get much cheaper than right now. If memory serves the last time the price went down to like 10 or 11 it barely affected the physical metal price, they just upped the premium over spot.
 
Old March 10th, 2009 #525
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Thanks, Matt. That is a good price. Just check out the story on the board about Chinese making fakes of silver, indian head gold, Morgans, etc. even the swiss bars. Have a set of scales. They use 18K gold, etc. Wont weigh true.
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Old March 11th, 2009 #526
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Default 1 shot at Rock Hill real estate office

Quote:
ROCK HILL, S.C. -- One man is in custody after shooting an employee at a Coldwell Banker Real Estate office in Rock Hill.
It happened at about 2:20 p.m. Wednesday at the office located on Ebenezer Road.
Police arrested Richard Blow at the scene. He is currently being questioned.
The victim, Jerry O'Neill, a senior vice president at the office, was airlifted to Carolinas Medical Center. His condition was not immediately known.
Police say the shooting was the result of a dispute over earnest money.
Police say they received a call from the office as soon as Blow walked in. Soon afterward, they received a second call reporting the shooting.
Police say about 10 people were inside the office at the time of the shooting. Only O'Neill was injured.
http://www.wcnc.com/news/topstories/....260b1264.html
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Old March 11th, 2009 #527
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Kike casino company files Chapter 11

Quote:
Updated: March 11, 2009 06:41 PM

For the second day in a row, stocks were up as investors tried to turn Wall Street's best performance of the year into a two day advance. The Dow closed up nearly four points Wednesday to close at 6930.

While that's down considerable from yesterday's huge 380 point gain, investors say it's still a gain. However, analysts caution the market is still troubled by the ongoing problems in the banking industry and the impact of the recession on companies in all industries.

The gaming industry has been hammered and it's the lifeblood of tens of thousands of people in Las Vegas. Yet another company is on the way to the bankruptcy court, this time family owned Terrible Herbst.

This does not apply to the gas station part of the company. That's separate. Terrible's gaming side could not meet debt agreements.

The Chapter 11 filings with the government show that the company is making money, but not enough to meet lenders requirements. So the lenders and the historic Las Vegas family made a deal. All of the casinos will be split off and given to the lenders.

The three Herbst brothers would own 90-percent the Nevada slot routes, those are the slot machines inside the gas stations and taverns across the state.

"They expanded pretty quickly. Like many other companies in Nevada are finding out, what seemed like a great idea in 2005 or 2006 isn't such a great idea in 2009. They got aggressive, which sometimes is good. In this case they took on a little bit too much debt," said Dave Schwartz with the UNLV Gaming Research Center.

Schwartz says what really got the company in trouble was in 2007 buying the casinos in northern Nevada for $140 million and the Primm and Stateline casinos from MGM for $349 million.

With the economic downtown, the gaming company sank under the debt.

This deal will become official March 23, 2009. That's when the prepackaged bankruptcy filing will be made.

The good news is that this deal will not cost anyone their job. A company spokesman says no one will be fired and none of the Terrible's properties will close.
http://www.lasvegasnow.com/Global/story.asp?S=9990073
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Old March 11th, 2009 #528
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Excellent news, DTZ! Casinos are a blight. They took away our mills and our farms, and gave us fucking Indian casinos. This isn't a cuntry worth fighting for or caring about. I rejoice at the daily dose of "bad" news.
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Old March 20th, 2009 #529
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Default Regulators take over 2 wholesale credit unions based in Kansas, California

Regulators take over 2 wholesale credit unions based in Kansas, California
Marcy Gordon, AP Business Writer
Friday March 20, 2009, 8:45 pm EDT
Buzz up! Print WASHINGTON (AP) -- Federal regulators on Friday seized control of two large institutions that provide wholesale financing for U.S. credit unions, a move they say was needed to stabilize the credit union system.

The National Credit Union Administration said it has taken over and put into conservatorship the two corporate credit unions, U.S. Central Federal Credit Union, based in Lenexa, Kan., and Western Corporate Federal Credit Union, in San Dimas, Calif.

A conservatorship enables the government to operate a financial institution. Corporate credit unions provide financing and investment services to retail credit unions. Some of the 28 corporate credit unions in the U.S. have sustained steep losses on paper from the depressed value of the mortgage-linked securities they hold.

The financial services provided by the two corporate credit unions "will continue uninterrupted" and there will be no direct impact on the 90 million members of retail credit unions nationwide, the NCUA said in a news release.

It said retail credit unions, which are cooperatives owned by their members, remain financially strong -- with net worth exceeding 10 percent of assets, and sustained growth in assets and membership despite the deep recession.

In January, the NCUA injected $1 billion of capital into U.S. Central, an institution with about $34 billion in assets. At the same time, the agency moved to guarantee tens of billions of dollars in uninsured deposits at corporate credit unions overall, the latest in a series of actions to shore them up in the face of financial stress.

Western Corporate Federal Credit Union, known as WesCorp, has an estimated $23 billion in assets.

The NCUA, which oversees some 8,100 federally insured credit unions, said it would automatically guarantee uninsured deposits at all corporate credit unions through February and then on a voluntary basis through Dec. 31, 2010.

In December, the agency made more than $40 billion available to support several corporate credit unions with a new borrowing from the Treasury Department and provided another $2 billion to help struggling homeowners.

U.S. Central has said it expects to report a substantial loss for 2008, due to around $1.2 billion in charges for impairments in its holdings of mortgage-backed securities.

The NCUA also has proposed restructuring the corporate credit union system with an eye to enhancing its stability.

http://finance.yahoo.com/news/2-corp...-14707022.html
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Old March 20th, 2009 #530
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Quote:
On March 20, 2009, TeamBank, N.A., Paola, KS was closed by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.
http://www.fdic.gov/bank/individual/.../teambank.html

Quote:
On March 20, 2009, FirstCity Bank, Stockbridge, GA was closed by the Georgia Department of Banking and Finance and the FDIC was named Receiver. No advance notice is given to the public when a financial institution is closed.
http://www.fdic.gov/bank/individual/...firstcity.html
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Old March 20th, 2009 #531
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Default Pier 1 In Trouble.

I remember reading years ago that Pier 1 was a CIA front. I don't know, but it makes this story funny were it so.

Quote:
The Associated Press March 20, 2009, 5:22PM ET

Retailer Pier 1 Imports Inc. said Friday it lost $29.4 million in its fourth quarter and could close 80 stores this year.

While better than expected, that net income amounted to a loss of 33 cents per share and showed a dramatic reversal for the three months ending Feb. 28. During the same period last year, the company earned $14 million, or 16 cents per share.

Sales fell 8 percent to $389 million, down from $437 million last year and same-store sales -- an important retail industry metric of sales in stores open at least a year -- sank 9.7 percent during the quarter.

Analysts surveyed by Thomson Reuters expected the company to lose 18 cents per share on revenue of $358.6 million for the period.

For the year, Pier 1 said it lost $129.2 million, or $1.45 per share. That's 35 percent more than the year before, when it lost $96 million, or $1.09 per share. Full year sales were $1.32 billion, down 12 percent from $1.5 billion last year.

Wall Street expected a loss of $1.24 per share on revenue of $1.29 billion for the full year.

Meanwhile, the Fort Worth-based company said it reached agreements to end 14 store leases so far and plans to close two other locations.

It expects to record $4 million in cash and non-cash charges related to closing stores. Half will be recorded during the first fiscal quarter, while the cash portion will be offset, partially, by liquidation sales.

Also Friday, Pier 1 said its foreign subsidiary would buy $79 million of the company's outstanding convertible senior notes, which are due in 2036.

Last month, Pier 1 said it would cut 10 percent of full-time equivalent positions in its distribution center, home office and field administration units. The company ended its fiscal year with 1,092 locations.

Pier 1 shares rose a penny, or 6.7 percent, to close at 16 cents Friday before climbing another 12.5 percent after hours.
http://www.businessweek.com/ap/finan.../D9720HVG2.htm
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Old March 21st, 2009 #532
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When times get rough people don't want to pay $400 for a wicker chair. Everything in Pier 1 is overpriced by about 50% or more.
 
Old March 21st, 2009 #533
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Thrift stores are great places for furniture, clothing, and household items. You can get good, useful things very inexpensively.
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Old March 21st, 2009 #534
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Women are intellecually and biologically inferior to men. All women are subhuman filth.
 
Old March 21st, 2009 #535
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Default Fed planning 15-Fold Increase in US monetary base

*****Fed planning 15-Fold Increase in US monetary base*****

Friday, March 20, 2009


The fed is planning moves that would more than double its balance-sheet assets by September to $4.5 trillion from $1.9 trillion. Whether expressing approval or concern over the fed’s move, most commentators fail to understand the real magnitude of the projected expansion of the US monetary base because they don’t take into account the amount of dollars circulating abroad.

At least 70 percent of all US currency is held outside the country, and this means the US monetary base is considerably smaller than the fed’s overall balance sheet. Take, for example, the true US domestic money supply at the beginning of September 2008, before the fed started its quantitative easing. From the Federal Reserve’s website, we know that currency in circulation was 833 Billion. This translates as 583 Billion dollars circulating abroad (70 percent), and 250 Billion dollars circulating domestically (30 percent). Since the bank reserve balances held with Federal Reserve Banks were 12 billion, that gives us a 262 Billion domestic monetary base as of September 2008. Now compare that to the projected US domestic monetary base for September 2009 which is 3,818 billion (4,500 billion – 583 billion (dollars circulating abroad) – 99 billion (other fed liabilities not part of the money supply)). The fed’s planned balance sheet expansion results in a 15-fold increase in the base money supply.


262 Billion = US monetary base as of September 2008 (minus dollars held abroad)
3,818 Billion = projected US monetary base in September 2009 (minus dollars held abroad)

3,818 Billion / 262 Billion = 15-Fold Increase in US monetary base


This is a staggering devaluation of the US currency! That means for every dollar that existed in America in September 2008, the fed is going to created fourteen more of them! Below is a rough sketch of what this Increase in US monetary base would look like:



This 15-Fold Increase will be impossible to reverse

Next September, when the fed realizes it has gone too far and tries to reverse its balance sheet expansion, it will be unable to do so. The realities which will hinder the fed’s control of the money supply are:

1) The toxic assets filling its balance sheet

Expanding the money supply is easy. All the fed has to do is print dollars and then use them to buy assets. There is no effective limit to how much the fed can print and spend.

Shrinking the money is much trickier. To shrink the base money supply, the fed sell assets and takes the dollars it receives for them out of circulation. The amount the fed can shrink the money supply is therefore effectively limited by the market value of assets on its balance sheets. Since the fed is in the process of loading up on toxic securities trying to restore health to the financial sector, it is now sitting billions of unrealized losses. These unrealized losses means the fed has little ammunition available to bring the money supply under control.

Once September rolls around, If the fed wants to reverse the expansion of its balance sheet and shrink the monetary base back down from 3,818 billion to 262 billion, then it will need to sell 3,556 billion worth of assets. However, the market value of its assets will only be worth a fraction of that.

2) Political constrains on fed's actions

Even if the fed does try to shrink the money, it is likely to run into political constrains on its actions:

A) Selling toxic assets at a loss could become a crippling source of major embarrassment for the fed, undermining its authority. For example, last year when the fed took 29 billion toxic assets to help JPMorgan’s takeover of Bear Stearns, it assured Americans that by holding those securities till maturity, the cost to taxpayers would be minimal. If the fed sells those toxic Bearn Stearns assets at a catastrophic loss, it would cause fury and outrage from voters and lawmakers.

B) Selling assets at below book value will quickly cause the fed’s equity to turn negative. The federal reserves would then need to be recapitalized by new debt from the treasury, which would increase the national debt.

3) The benefits from of its balance sheet expansion which would be lost if the fed starts selling assets

The fed is accumulating toxic mortgage backed securities, long term treasuries, and other assets to unfreeze the credit markets and spur economic growth. Turning around and selling those assets would result in the collapse of the credit markets and the financial system, which the fed has been desperately trying to prevent.

Upwards pressure on interest rates

On top of all the issues above, the fed’s woes are going to be compounded by upwards pressure on the yields of treasuries and other US debt. This upwards pressure will likely force the fed to monetize far more treasuries than the planned $300 billion purchases it has already announced, and will greatly complicate any efforts by the fed to control the money supply.

Below are the nine factors which will cause yields to move higher:

1) Massive supply of treasuries in the pipeline

The biggest force of upward pressure on treasury yield is without a doubt the trillions of debt the treasury is going to sell to finance the US’s enourmous 2009 budget deficit. There is nowhere near enough buyers to this supply. The graph below demonstrates the challenge facing the treasury in trying to fund this year’s deficit.



2) As a reserve asset, treasury bonds will face enormous selling pressure in 2009

There is the mistaken belief that the treasuries’ role as a safe haven is bullish for treasury bonds. It is not. This logic ignores the reality that reserve assets, such as treasuries, are accumulate in good times and sold in bad times:

Federal and state agencies will be selling treasury reserves. For example, the Deposit Insurance Fund (a.k.a. FDIC) will be selling treasuries to pay back depositors of failed banks, and the Unemployment Trust Fund will be selling treasuries to make payments to the unemployed.

State and local governments will be selling treasury reserves. As an example, states have already begun drawing down reserves as their budget troubles worsen. The bulk of those reserve remain, and they will be sold over the course of this year.

Banks and insurers will be selling off their treasury loan-loss reserves. Financial institutions have been building their treasury loan-loss reserve for the last year in anticipation of growing defaults. In 2009, this process will reverse as loans go bad and insurers make good on claims.

Foreign central banks will be selling off their treasury foreign reserves. Saudi Arabia, for example, is projecting a 2009 Budget Deficit, which it intends to finance by selling off its US holdings. Russia, meanwhile, has already sold over 20% of its $598.1 billion reserves, and India's central bank has been forced to sell off its US holdings to curb its currency's decline, and its total reserves have decreased by $62.2 billion. Japan, which is now running record current account deficits, can also be expected to sell treasuries.

Even China could become a seller of treasuries as it mobilizes its dollar reserves. The Chinese government has sent clear signals that it is shifting from passive to active management of its reserve and is exploring more efficient ways to use its reserves to boost its domestic economy.

3) Retirement inflows into treasuries are over

The steady accumulation of treasuries by government retirement funds has helped absorb the supply of treasury bonds over three decades. This accumulation of government debt to secure the retirement of baby boomers helped drive down treasury yields and fund US deficit spending. As of September 2008, the four biggest of these funds held 3.3 trillion treasuries:

2150 billion (Federal old-age and survivors insurance trust fund)
615 billion (Federal employees retirement fund)
318 billion (federal hospital insurance trust fund)
217 billion (federal disability insurance trust fund) (for more on these four funds, see where social security tax amounts deposited)

3300 billion total

Today, the accumulation of treasuries by government retirement funds is now over. Baby boomers are beginning to retire, increasing outflows, and unemployment is rising, cutting inflows. More importantly, the 3.3 trillion already accumulated in these funds provides an enormous political incentive to prevent treasury prices from collapsing. Faced with a run on treasuries, politicians, rather than explaining to baby boomers that their retirement savings are gone, will instruct the fed to monetize treasury bonds. This alone will prevent the fed from reversing its current balance sheet expansion.

4) Deleveraging in credit-default swap market will drive up risk premiums

If you have been following the credit crisis in any detail, you might have heard that the 53 trillion credit-default swap market threatening the solvency of the financial system. What you might not have heard is the other dire threat posed by the CDS market: drastically higher risk premiums on all forms of debt.

These higher risk premiums are the result of reversing the process by which credit-default swaps were leveraged up and packaged into investment vehicles. Some examples of these horrors are:

Synthetic CDOs
As opposed to regular CDOs (which contain actual bonds), synthetic CDOs provide income to investors by selling credit-default swaps on hundreds bonds from companies and governments.
To juice returns, these synthetic CDOs disproportionally insured the riskiest AAA rated debt, such as Lehman’s bonds. Synthetic CDOs are estimated to have sold insurance on between $1.25 trillion to $6 trillion worth of bonds.

constant-proportion debt obligations
CPDOs are specialized funds which work exactly like synthetic CDOs but with one major difference: they used leverage to boost returns. These CPDO funds typically borrowed about $15 for every dollar invested with them. They also contain safety triggers that force the liquidation of their investments if losses reach a predetermined level, and most CPDO funds have begun to hit these triggers. For example, Three CPDO funds launched in 2006 by Dutch bank ABN Amro Holding NV have already been forced to liquidate as credit insurance costs spiked and their credit ratings were downgraded.

credit derivative product companies
CDPPs are another group of specialized funds which work exactly like synthetic CDOs and CPDO funds, except for one key difference: they used an insane amount of leverage, as much as $80 for every dollar invested. CDPP funds together with subprime CDOs squared are finalists for the title of “most idiotic financial instrument ever created”.


Since these leveraged investment vehicles sold an enormous amount of insurance, the premiums for CDS insurance dropped sharply, making corporate debt seem safer and lowering interest rates. In effect, the process of building up the 53 trillion CDS market created an era of artificially low risk premiums on all forms of debt. Unfortunately, the pendulum is now swinging in the other direction, and the pain has just begun.

As investors attempt to get out of synthetic CDOs and CPDO/CDPP funds try to deleverage, they push up the cost of default insurance. In turn, that raises the risk premium on all forms of debt since most investors use the cost of default insurance as a guide when deciding at what interest rate they will buy bonds. Many banks are also tying corporate loan rates to credit-default swaps, raising borrowing costs and exposing companies to an overleveraged derivative market which is largely responsible for crippling the financial system.

The graph below shows how the cost of insuring the debt of EU nations is being driven up.



Cont @
http://www.marketskeptics.com/2009/0...ase-in-us.html
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Old March 21st, 2009 #536
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Default Administration Seeks Increase in Oversight of Executive Pay

WASHINGTON — The Obama administration will call for increased oversight of executive pay at all banks, Wall Street firms and possibly other companies as part of a sweeping plan to overhaul financial regulation, government officials said.
The outlines of the plan are expected to be unveiled this week in preparation for President Obama’s first foreign summit meeting in early April.
Officials said the proposal would seek a broad new role for the Federal Reserve to oversee large companies, including major hedge funds, whose problems could pose risks to the entire financial system.
It will propose that many kinds of derivatives and other exotic financial instruments that contributed to the crisis be traded on exchanges or through clearinghouses so they are more transparent and can be more tightly regulated. And to protect consumers, it will call for federal standards for mortgage lenders beyond what the Federal Reserve adopted last year, as well as more aggressive enforcement of the mortgage rules.
The administration has been considering increased oversight of executive pay for some time, but the issue was heightened in recent days as public fury over bonuses spilled into the regulatory effort.
The officials said that the administration was still debating the details of its plan, including how broadly it should be applied and how far it could go beyond simple reporting requirements. Depending on the outcome of the discussions, the administration could seek to put the changes into effect through regulations rather than through legislation.
One proposal could impose greater requirements on company boards to tie executive compensation more closely to corporate performance and to take other steps to ensure that compensation was aligned with the financial interest of the company.
The new rules will cover all financial institutions, including those not now covered by any pay rules because they are not receiving federal bailout money. Officials say the rules could also be applied more broadly to publicly traded companies, which already report about some executive pay practices to the Securities and Exchange Commission.
During the presidential campaign, Mr. Obama repeatedly urged regulators to adopt new rules to give shareholders a greater voice in setting executive pay for all public companies. And last month, as part of the stimulus package, Congress barred top executives at large banks getting rescue money from receiving bonuses that exceeded one-third of their annual pay.
The regulatory plan is being put together ahead of the meeting of the Group of 20 industrialized and developing nations in London. The meeting, which begins April 2, is expected to be dominated by the global financial crisis and discussions about better oversight of large financial companies, whose problems could threaten to undermine international markets.
An important part of the plan still under debate is how to regulate the shadow banking system that Wall Street firms use to package and trade mortgage-backed securities, the so-called toxic assets held by many banks and blamed for the credit crisis.
Officials said the plan would also call for increasing the levels of capital that financial institutions need to hold to absorb possible losses. In a sign of the economic system’s fragility, officials said the administration would emphasize that those heightened standards should not be imposed now because they could discourage more lending. Rather, they would be put in place after the economy began to rebound.
“The argument some are making is that they don’t want to be stepping on the gas pedal and the brake at the same time,” said Morris Goldstein, a senior fellow at the Peterson Institute for International Economics and a former top official at the International Monetary Fund.
Administration officials are also debating how tightly to supervise hedge funds.
A broad consensus has emerged among regulators and administration officials that hedge funds must be registered and more closely monitored, probably by the Securities and Exchange Commission. But officials have not decided how much the funds will have to disclose about their investments and trading practices. The officials spoke on condition of anonymity because the regulatory plan was still being formulated and they did not want to upstage Mr. Obama or Treasury Secretary Timothy F. Geithner, who will describe the plan when he appears before Congress on Thursday.
A central aspect of the plan, which has already been announced by the administration, would give the government greater authority to take over and resolve problems at large troubled companies not now regulated by Washington, like insurance companies and hedge funds.
That proposal would, for instance, make it easier for the government to cancel bonus contracts like those given to executives at the American International Group, which have stoked a political furor. Under the proposal, the Treasury secretary would have the authority to seize and wind down a struggling institution after consulting with the president and upon the recommendation of two-thirds of the Federal Reserve board.
Long before he became Treasury secretary, Mr. Geithner sought broader authority for the government to resolve problems at financial institutions not under bank regulators’ supervision.
The government now has the power to take over only the banking unit that controls federally insured deposits of large troubled institutions, not the parent company — a limit that could pose problems if large financial conglomerates like Citigroup or Bank of America continued to spiral downward.
In unveiling the regulatory plan, Mr. Obama would signal to Europe that he intended to crack down on the risk-taking and other free-wheeling practices by the financial industry that resulted in the global economic meltdown.
France and Germany especially have suggested that the better response is not more government spending but tighter regulation.
More at link.
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Old March 22nd, 2009 #537
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Angry Are the kikes jumping out windows yet?

Kikes should be jumping for joy!

Check this one out; itz been the talk of the town the last few days, and no one has to worry about reading between the lines:

Good Sunday morning. JOHN PODESTA runs the ROME MARATHON today.

PAUL KRUGMAN BLOGS ON THE TOXIC-ASSET PROGRAM to be announced early this week: “The Geithner plan has now been leaked in detail. It’s exactly the plan that was widely analyzed — and found wanting — a couple of weeks ago. The zombie ideas have won. The Obama administration is now completely wedded to the idea that there’s nothing fundamentally wrong with the financial system — that what we’re facing is the equivalent of a run on an essentially sound bank. … And if we get investors to understand that toxic waste is really, truly worth much more than anyone is willing to pay for it, all our problems will be solved. To this end the plan proposes to create funds in which private investors put in a small amount of their own money, and in return get large, non-recourse loans from the taxpayer, with which to buy bad … assets. This is supposed to lead to fair prices because the funds will engage in competitive bidding.

“But it’s immediately obvious, if you think about it, that these funds will have skewed incentives. In effect, Treasury will be creating — deliberately! — the functional equivalent of Texas S&Ls in the 1980s: financial operations with very little capital but lots of government-guaranteed liabilities. For the private investors, this is an open invitation to play heads I win, tails the taxpayers lose. So sure, these investors will be ready to pay high prices for toxic waste. After all, the stuff might be worth something; and if it isn’t, that’s someone else’s problem. Or to put it another way, Treasury has decided that what we have is nothing but a confidence problem, which it proposes to cure by creating massive moral hazard. This plan will produce big gains for banks that didn’t actually need any help; it will, however, do little to reassure the public about banks that are seriously undercapitalized. And I fear that when the plan fails, as it almost surely will, the administration will have shot its bolt: it won’t be able to come back to Congress for a plan that might actually work. What an awful mess.”


This just goes right on around the bend:

Having allowed the kikes to steal all the assets and get away scot-free, the Obongo triumpherate (Twinkle-toes, Geithner, and Obongo - in that approximate order) now proposes to continue with the zombie finance storefront while setting up a no-lose situation for kikes to pick up free money for about 3 cents on the dollar. This should keep them well ahead of the 15x devaluation upcoming (about twice ahead from simple numbers) and let them continue to cull through the wreckage extracting the last iotas of value.

...and the doofuss-brained "government" just sits there like a deer in the headlights and lets it keep on going...

Why am I amazed, but not surprised?
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Old March 22nd, 2009 #538
Joe_J.
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Quote:
Why am I amazed, but not surprised?
Amazed at the chutzpah but not surprised because of the jewish nature of the markets.
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Old March 30th, 2009 #539
Zenos
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Looks like the rally may be over. GM and Chrysler are on the verge of bankruptcy, and it looks like they're going to let them fail. GM didn't do any of the restructuring they promised when they accepted the gov bail out.

All the financial's are down when it was announced the major banks are going to need more money.

I thought this was funny. At 10:39 Central the Nasdaq is at 1488.28

Looks like Obobo's plan on buying all the dept and initiating the largest money printing operation in US history is about to fall flat on it's ass. And that was the last card up the sleeve so to speak.

At the time of this post.
Dow -285.22down-3.67%
7,490.96
Nasdaq -52.86down-3.42%
1,492.34
S&P -28.73down-3.52%
787.21
 
Old March 30th, 2009 #540
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Quote:
Originally Posted by Steve B View Post
I with I knew who the author of this article is.
http://www.smirkingchimp.com/author/mike_whitney
 
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