Thursday
Jul092009
The Unwinding Of Lehman Brothers With CEO Brian Marsal
THE GORILLA DISGRACED...FORMER LEHMAN CEO DICK FULD HEARS THE TRUTH FROM PROTESTERS
Entries by DailyBail (6219)
Jul 9, 2009 at 2:25 AM
Thursday
Jul092009
Thursday
Jul092009
Wednesday
Jul082009
Wednesday
Jul082009
T. Boone Pickens New Plan: America Is Entitled To Iraqi Oil As Compensation For Fallen Soldiers (Poll Question)
CLICK PHOTO TO SEE VIDEO
Skip to the 4:40 mark of this CNBC clip. Pickens says "We should get a call on Iraqi oil for the 4,000 people we lost and the $2 trillion we've lost." "We haven't got much out of Iraq that I can see that's helped America."
My first thought is that we dug our own grave in Iraq. We acted unilaterally and without cause and now Pickens thinks we should be compensated for our trouble.
This is the height of American arrogance and imperialism. We're gonna come in and screw up your country and its infrastructure, and we'll be taking ownership of your most strategic assets as a thank you. Buh-bye.
Is Pickens right, do we deserve Iraqi oil as a thank you for our commitment to democracy?
Wednesday
Jul082009
Because It's Important To Know What Your Frenemies Are Saying
Click Photo to See Krugman on Charlie RosePaul Krugman interview, aka 'Deer in the Headlights' (it'll make sense when you watch the clip), with Charlie Rose from June 30th.
Go straight to the 17 minute mark if you wish to skip the discussion of Obama's health care proposal.
Hey Rose and Krugman, not incidentally you're both wrong. Unemployment is not a lagging indicator in our current downturn, writes Dr. John Hussman (11th paragraph beginning with "In typical recessions").
From Krugman (the enemy):
"The stimulus package was too small." AAARRRGGGHHHH. Give it a rest. Outside of the Obama White House and the panoply of glad-handing, sycophantic Keynesian drones led by Krugman and Delong, no one buys this crap. As Peter Schiff put it, Keynes is to economics as witch doctors are to medicine.
An extremely useless Krugman comment (that perhaps demonstrates that he himself has been captured to a degree):
"No raw corruption in Washington or among the regulators, just cognitive regulatory capture." Phew. Now, we can relax because Krugman says it's just harmless 'cognitive regulatory capture.' What the hell is 'cognitive' regulatory capture? His implication that the mind has been captured but not the deed is completely bonkers. Witness the huddled behavior of Senate Democrats just yesterday as they protected the Federal Reserve and blocked any chance of bailout transparency. This is pure insanity from Krugman.
WHAT'S LEFT OF CHARLIE'S FACE AFTER HE DOVE LAST YEAR TRYING TO SAVE HIS MACBOOK AIR FROM HITTING THE SIDEWALK
More from Krugman (this time he's our friend):
Goldman has done too well. AIG...there was no spreading the cost to counterparties. He still feels 2 banks should be seized (he's talking about Citigroup and Bank of America). He said taxpayers have borne the risk of massive losses and the current upside is being enjoyed by others. Bad things haven't happened, yet.
He mentions that he and Geithner critic, Joseph Stiglitz, were invited to the White House. Said Obama was cautious and knowledgeable on the issues. Smart and well-intentioned. He came away feeling better after the dinner.
Editor's note: Bailout and deficit politics can make you crazy...Krugman, Tyson, Summers, Delong and Romer are live together on Fantasy Island regarding Keynes, government spending, stimuli, economic multipliers and the like. Their duplicitous theory, while weakly functional in a perfect recessionary environment, is completely useless in this crisis.
The stern backdrop of Barry Bonds like debt to income, and debt to GDP levels (345% vs. a career average of .345 for Bonds and not coincidentally, both ratios are inflated by steroids), means that consumer behavior will be different than their models predict.
So I despise them for this, because they're stealing my money and your money and your kids money and so on, all so they can try to mollify the effects of a crisis that can't be mollified. This is our pot and we need to piss in it. There's nothing that can be done.
The insanity kicker: Then, 30 seconds after pissing me off with his stimulus talk he slides glibly into his comment about Washington capture but defines it as cognitive capture to ease the pain of the truth.
And from there it's good buddy Paul Krugman for the last 3 minutes as he tells the truth about the banking bailouts.
The gob of goo between my ears was not trained to hate and love during the same 7-minute Charlie Rose interview for chrissakes. It's not healthy, it's not normal and it's not natural.
Please HELP by emailing our stories to a few friends. Creating greater awarenss by the sheeple is the only way we're ever going to stop the heist. Sending just 2 emails can make a tremendous difference. Thank you.
Wednesday
Jul082009
Wednesday
Jul082009
Mid South Bank’s CEO Rusty Clouthier Drops “Truth Bomb” on Wall Street (CNBC Clip)
Guest post by Slider from SliderOnTheBlack.com
Did you happen to catch Mid South Bank President and CEO R.J. “Rusty” Clouthier on CNBC’s Squawk Box a few weeks ago?
This 5 minute and 21 second clip may contain more practical wisdom about the roots of the banking crisis than would an entire semester at the Wharton School of Business.
Clouthier who served six years on the Fed’s board, said that unless we break up the big banks that pose systemic risk and get back to sound banking, we’re just going to re-live this again.
CNBC’s Joe Kernen asked Clouthier if he had any of these esoteric mortgage, or derivative products and problems in his bank, and asked him if he saw this banking crisis coming?
Clouthier replied that he did not have any toxic mortgage products, and added that he knew the banking crisis was coming as soon as Gramm-Leach-Bliley was passed in 1999.
Clouthier went on to place much of the blame for this crisis squarely on the shoulders of Alan Greenspan. He went on to say that Greenspan actually approved the Citi - Travelers merger when it was illegal and told them to just go and get the law changed, which they did by repealing key components of Glass-Steagall with Gramm Leach Bliley.
Thank you Rusty Clouthier for speaking the truth.
Nobel Prize winning economist Joseph Stiglitz has also gone on record as citing the roots of the crisis with Gramm Leach Bliley. And another Nobel Prize winner, Paul Krugman, went as far as to call Senator Phil Gramm “the father” of the financial crisis.
And let’s not forget the role that Wendy Gramm played in Gramm Leach Bliley. Here’s a great article on the “Mother of Enron” Wendy Gramm…
http://www.dailykos.com/story/2008/9/15/114017/631/577/599447
It amazes me that Alan Greenspan has not had to go into hiding in exile, or that another “Father” of the crisis - Hank “The Extortionist” Paulsonhasn’t been run out of the country, all the way to China.
Paulson of course, was the architect and chief lobbyist while CEO at Goldman, instrong-arming the SEC to allow the investment banks to self-regulate and to lift the SEC’s limits on their leveraging of capital from 12:1 to 30-40-50:1.
You can thank Hank for the resulting failures of Lehman and Bear Stearns, the rescue of Merrill, and the bailout of Goldman and Morgan Stanley.
Here’s two excellent articles detailing Paulson’s role as one of the chief architechts of the financial crisis.
http://www.tinyrevolution.com/mt/archives/002602.html
http://www.nysun.com/business/ex-sec-official-blames-agency-for-blow-up/86130/
Break up the banks now too big to fail. Limit the leveraging of capital. Get rid of unregulated derivatives. And return to the sound banking principles of the Rusty Clouthier’s of the banking world.
Almost too simple isn’t it?
Of course it is. So now we’re turning over near “dictatorial” powers to the privately owned Federal Reserve, and expanding it’s powers outside the banking system.
Instead of sending the looters to prison and reforming the system, we’ve just handed them the keys to the entire US economy.
America - WAKE UP!
This isn’t reform, this is the final Coup d’Etat.
Please HELP by emailing this story to a few friends. Greater awareness by the sheeple is pretty much the only way we're ever going to stop the heist. Send 2 emails and I'll get off your back. Thank you.
Tuesday
Jul072009
Tuesday
Jul072009
Tuesday
Jul072009
Tuesday
Jul072009
