Think You Can Eliminate The Red Ink In California's Budget? Here's Your Chance - YOU Make The Cuts

Extremely impressive infographic built by the LA Times.  Through would be an understatement for this interactive monster.

Think you can eliminate the red ink in California's budget?

The state's budget shortfall for the rest of this fiscal year and next, estimated to be $28 billion, is the size of the total general fund budget of 12 states combined: Delaware, Idaho, Maine, Montana, Nebraska, Nevada, New Hampshire, North Dakota, Rhode Island, South Dakota, Vermont and West Virginia.

We've provided a wide range of options — spending cuts and tax increases — that cover most of the proposals made by Democratic or Republican lawmakers. It's not easy, but it can be done.

Try your hand at filling this particular $28 billion hole...

• Balance the California Budget - You Make The Cuts

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This clip explains why California will never EVER get its budget under control...

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"This Is Blood! This Is Mubarek's Blood!" - The Most Amazing Egypt Video - This Is How You Start A Revolution

In case you missed this last week.  Clip is on the front page.

• "We will not be silenced, whether you're a Christian or a Muslim, whether you're an atheist, you will demand your god damned rights, and we will have our rights, one way or the other!  We will never be silenced!" (0:45)

• The Egyptian Riots - Warning - Graphic Photos

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Video: Kucinich: "Give Me Liberty Or Give Me A Wiretap"

Video - Dennis Kucinich on Patriot Act reauthorization from the House floor earlier today - Feb. 08, 2011

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60 Minutes: Walking Away From Your Mortgage (WATCH)

How to walk away from your mortgage...

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Video: Trichet At Davos: "Euro Debt Brainwashing Still A Work In Progress"

Reuters Video - Jan 27 - The debt within the Euro Zone crisis is a ''work in progress'' says ECB President Jean-Claude Trichet in Davos.

What he meant to say...

"We're still trying to get Merkel to sign off on bailouts for everybody, meanwhile somebody needs to turn me loose with the Euro Press.  The Helicopter gets all the publicity, but I could out print that punk from here to Weimar with 2 stops in Zimbabwe for wheelbarrows, paper, ink.  Too much debt, what?  Never heard of that.  Our banks are too leveraged, what?  Basel took care of that.  Last question. Ireland?  Fine Gael can kiss my bank bondholder ass."

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Total Cost Of Wars Exceeds $2.5 Trillion - No Worries! US Media 'Fluff' Numbing Nation, Robbing Next Generation

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Super Bowl flyover costs taxpayers $450,000 (F-18 Video)

Considering that the Pentagon spends $500 million in the U.S. annually, just on marketing the wars, this is a mere drop in a leaky, bankrupt bucket.

• Selling The Wars - Image Is Everything When You're Marketing A $3 Trillion War Machine

Several clips of the F-18 flyover are inside, all captured by fans.

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WATCH LIVE - Bernanke Testifies Before House

Live Video - Bernanke Testifimony - House Budget Committee

Summaries from this morning's testimony:

• CNN - Paul Ryan vs. Bernanke

• C-Span - Congress wants answers from Bernanke

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Must Hear Voicemail: Gasparino Harasses Lehman Execs

Panic kicks in at 22 seconds.

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Prison For Paulson - Despite Cries For Justice, Wall Street 'Perp Walks' Slow To Develop

Editor's Note: Though Hank Paulson is not involved in this story, he remains guilty of crimes against humanity and taxpayers.  Call it Daily Bail subliminal messaging, only less subliminal and more of a 'headline lead.'  Paulson's crimes are outlined here.

• Paulson is exposed by Rep. Cliff Stearns - Congressional Testimony

It's long past time for jail sentences and orange jumpsuits.

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Obama With Bill O'Reilly: "The United States Can't Dictate What Happens In Egypt" - Super Bowl Interview: Full Video

Video - Bill O'Reilly Interviews President Obama - Feb. 6, 2011

Relative to most other Presidential sit-downs, this is quite tolerable.  O'Reilly is not shy about interrupting anyone, and the Deficit President is treated no differently.  Broadcast yesterday afternoon before the Super Bowl.  On Egypt, Mubarak, economy, jobs, taxes, healthcare and the Constitution.

Several links inside.

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The New York Fed, Lehman And A CLO Called Freedom

Editor's Note - Bernanke's lies yesterday on Fed transparency pissed me off mightily, so we're republishing another case of Federal Reserve non-transparent corruption.  Wait until you read this one.  Audit the Fed anyone?!!!

This is a living, breathing advertisement for the need to have absolute transparency in all future Fed rescues.  Geithner is the guilty party.  His criminal transgression was aiding and abetting 'concealment of toxic assets.'  The FRBNY helped Lehman disguise the true nature of its massively insolvent balance sheet, accepting a bundle of Lehman's worst assets, named Freedom CLO. 

These were the same assets that Citigroup called 'junk' and said were 'impossible to value,' when refusing to accept them as collateral from Lehman.  That didn't stop the New York Fed from accepting these assets in exchange for cash.

The rub for Geithner is the following: he knowingly allowed the largest and most important of the twelve Federal Reserve banks to be used as a "warehouse" for junk loans, even though guidelines say only investment grade bonds may be accepted.  So Geithner violated the Fed's internal restrictions in order to help make Lehman look less insolvent. 

Is anyone surprised.  Just another reason our Treasury Secretary belongs in jail. 

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Meet The Fed’s QE2 Traders, Buying Bonds By The Billions

Fed traders Blake Gwinn and James White in the Operations Room.  

That's it.  That's the room where Bernanke's magic happens.  Incredibly underwhelming for money printing ground zero.  Maybe next year, the Helicopter will drop some cash for new computers. Reminded me of this story...

• Get A Rare Look Inside The Actual U.S. Treasury Auction Room

There are quotes from the Fed's head trader Brian Sack, though there is no mention or explanation of his meetings with Goldman Sachs FX Committee, as Zero Hedge detailed recently.

• WSJ - Brian Sack engineers big trades at the Fed

• Zero Hedge - Why does Brian Sack interact with Goldman's FX Committee?

Full profile from the NYT inside, and more - video, links, QE2 infographic.

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WSJ: What Could Bernanke & The NY Fed Be Hiding?

Why were bank bondholders made whole, while taxpayers got shafted?  Bernanke has never answered publicly.  Any doubts about fair play on Fed transparency will evaporate as you read the following.

Editor's Note - We are republishing this WSJ story from last Fall in light of Bernanke's comments - lies, actually - during Thursday's speech.

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