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Tuesday
Mar032009

Bailout Comedy Video: The Fly Presents Asshat Of The Month: Ken Lewis

We present this video without comment.  He likely stole our phrase asshat but has accomplished greatness with it nonetheless.  It is The Fly from Ibankcoin.com.

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Monday
Mar022009

Bailout AIG Videos: Using 8-Year-Olds For A National Marketing Campaign Will Generally Come Back To Bite You In The Ass

Updated on Mar 2, 2009 at 3:52 PM by Registered CommenterDailyBail

I present these AIG commercials with some commentary.  They were annoying enough when AIG was still a viable insurance company, now that they've failed and are actually engaged in stealing from your kids, we need new words to describe the visceral loathing we feel.  Several more of these commercials are inside including a satirical copy.

It's so painful for taxpayers we can't even laugh properly.  The squalor is presented below in numbered format.

1) Any company whose national marketing was built around obsessive 8-year olds discussing anything, deserves prima facie ridicule for insulting our inteligence.

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Saturday
Feb282009

The Mother Of All Irony: Playboy Magazine Targets The Daily Bail. We Stand Accused Of Having Fake Boobs

PLAYBOY HAS PULLED THE ARTICLE FROM THEIR WEBSITE AND ISSUED A PRIVATE APOLOGY TO THE DAILY BAIL. 

The link below no longer works but I found a link with the article cached here in its entirety.  It seems they not only didn't do their research on us, but they failed even to establish the basic thesis of their article.  We assume that Santelli and FreedomWorks and perhaps others have filed a lawsuit for slander.  Uh-oh.  One day you're a hero and the next day a liar.  Marc Ames and Yasha Levine, I hope you get fired and end up being forced to snort worms for the rest of your days.  Thanks for ruining my weekend, you bastards.

Below is my original article in its entirety.

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Friday
Feb272009

Bank Bailout News: CNBC Video: Maria Discusses The Banking Crisis With Nouriel Roubini and Howard Lutnick. Broadcast Feb. 27

I'll have more on this interview later, but for now spend a little time inside Roubini's head as he discusses Citigroup, the banking crisis and nationalization with Maria Bartiromo and Howard Lutnick from hedge fund BCG partners.

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Friday
Feb272009

How Soon Until We Have To Bailout General Electric: CNBC Video: David Faber On The Dividend Cut At GE Plus Weekend News on AIG. Broadcast Feb. 27

The global collapse is not playing well for General Electric And CEO Jeff Immelt.  GE has been exposed.  When the music stopped last Spring, the investment community became acutely aware that GE is nothing more than a bank waiting to fail.  Vendor-financing wrapped in some pretty manufacturing ribbons.

Option Armageddon has the most recent calculations on bank leverage statistics industry wide.

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Friday
Feb272009

Citigroup Bailout Details: Treasury Secretary Geithner Offers The Shaft To The Sheeple

Updated on Feb 27, 2009 at 2:07 PM by Registered CommenterDailyBail

We are covering this as a rolling story. Links and commentary will be added all day. To keep from clogging the front page, all links and updates are after the jump.

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Thursday
Feb262009

The Colbert Report New Comedy Video: Bears & Balls, Company Bailout: Stephen Decides Which Failed Companies Deserve Taxpayer Bailouts. Broadcast Feb. 24

 

With all the bad news I'm trying to keep the bailout comedy coming every night.  This 5 minute video from the Colbert Report is called 'Bears & Balls-Company Bailouts'.  Several failed and currently failing companies are judged and Stephen decides who should get taxpayer bailout bucks.  Sbarro, Six Flags, Circuit City, Linens N Things, Spencer Gifts and Muzak.  For Sbarro, he recommends they cut back on expensive ingredients like tomatoes and cheese and start selling a crust pizza, topped with crust.

After the jump is a clever British video focused on the UK bailout culture called 'Laughing All The Way From The Bank' by faux reporter 'Wildly Innacurate.'  

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Thursday
Feb262009

Bailout The United States Treasury: The Last Remaining Asset Bubble Is Cracking

Thursday
Feb262009

The Bernanke Bailout: 4 Videos From Federal Reserve Chairman Ben Bernanke's Testimony Before The House Financial Services Committee Feb. 24-25. Includes a 7 minute Ron Paul Attack

Updated on Mar 17, 2009 at 3:41 AM by Registered CommenterDailyBail

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Thursday
Feb262009

New Bank Bailout Bloomberg Video: Complete Interview With Bank of America CEO Ken Lewis. Broadcast Feb.25

Embattled Bank of America CEO Ken Lewis took his confidence game to the air earlier today, sitting down with Bloomberg reporter Margaret Popper.  Among Lewis' claims were that the Countrywide division is doing some nice business with the recent re-finance boomlet and that Merrill's asset management and brokerage businesses are also performing well.

The money snip from the companion article published later by Bloomberg:

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Wednesday
Feb252009

Bank Bailout Abuse Caught On Tape: TMZ & NBC Videos: Northern Mis-Trust Responds To Allegations Of Wasteful Behavior On The Taxpayer Dime. Millions Spent In 7 Day PGA Tour and Oscar Extravaganza

This 2 minute clip is Bloomington, Indiana native David Shuster with his take on the outrage in a segment called Hypocrisy Watch.

Pooled capital is back as Northern Trust makes the Erin Burnett bogus claim that no taxpayer bailout funds were utilized for their recent high-profile corporate events.  TMZ first broke the story yesterday that Northern Trust Bank, a recipient of $1.6 billion in taxpayer largesse from the first round of the government bailouts (TARP 1.0), spent over $10 million throwing lavish parties for employees and clients as part of their sponsorship of a PGA Tour event last week in Los Angeles.  Here are some of the details: as lead sponsor of the golf tournament, they ponied up over $5 million in prize money; an additional $5 million was spent on concerts by Sheryl Crowe and Chicago, luxury gifts from Tiffany plus 7 days of parties and resort lounging for hundreds of guests and employees. 

After the recent outrage over corporate-shindig malfeasance by AIG and Wells Fargo, one would think Northern Trust might have cancelled this golf-event sponsorship, around the time they decided to accept operating capital from you.  Instead, they forged ahead with Phil and Oscar, and now, in response to the growing outrage from taxpayers and Congress, they offer the following lie presented in picture by MSNBC:

Click to read more ...

Wednesday
Feb252009

Investment Bank Bailout: PBS Videos: Charlie Rose Interviews Morgan Stanley Chairman and CEO John Mack. Broadcast Monday Feb. 23

Updated on Apr 8, 2009 at 5:59 AM by Registered CommenterDailyBail

I will have more commentary on these 2 videos later, but for now here is the converstaion as Charlie interviews Morgan Stanley Chairman and CEO John Mack.  Their broad financial discussion touches upon the almost collapse of Morgan Stanley in late September, the fall-out from the failure of Lehman Brothers, the abysmal state of the economy and the current global financial crisis.  Morgan Stanley has received $25 billion in taxpayer funds as part of the broad capital injections into troubled banks conducted by former Treasury Secretary Hank Paulson under the auspices of TARP. 

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Tuesday
Feb242009

Bailout News Round-Up: AIG Needs More Cash, Citigroup Needs a Friend, George Soros Can't See The Bottom And Hillary Clinton is in China Requesting That They Continue To Fund Our Debt.  

Cnbc's David Faber reported last night that AIG will show a loss of $60 billion for the quarter when they release their numbers next week, due to substantial asset writedowns particularly in their commercial real estate portfolio  Discussions are apparently ongoing with the Treasury and Fed for additional taxpayer funds needed to keep the company in operation beyond next Monday.  Seriously, how much of your money does Goldman Sachs deserve?  If the connection isn't automatic, please consider that GS hedged their entire portfolio of questionable assets with AIG.  Thus, as these assets plunge in value, GS looks to AIG for payment.  When AIG runs out of money, they return to the Treasury begging for more of your cash.  Pretty sweet work if you can find it.

Other stories early this morning include more hand-wringing over the banks plus reaction to and analysis of the home foreclosure mortgage bailout model that the Obama administration is pushing.  Several more analysts say the plan will not work.  In other news police in the UK prepare for a summer of economic protests and riots, Hillary Clinton is in China requesting nicely that they buy more of our soon-to-be worthless treasuries, and George Soros says he sees no bottom yet in the current economic crisis.

Tuesday's 50 Best Financial Stories Inside 1 Link

 

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Monday
Feb232009

Bailout Comedy Videos The Colbert Report: Two Economy Comedy Videos Including Nobel Laureate Joseph Stiglitz On The Bailouts