Jan 11, 2013 at 12:04 AMWATCH: Edith O'Brien Pleads The 5th On Corzine
In my plunge back into MF Global earlier, I found this.
Has not been posted before. MF Treasurer Edith O'Brien pleads the fifth before the House Financial Services Committee, March 28, 2012.
Meanwhile In Zimbabwe: 9 Million Percent Inflation
Trading gold for bread. This is a must watch.
Bank Of America's $12 Billion Fraud Settlement With Fannie
"We thought this would be dragged out at least another two years."
Good discussion yesterday on Bloomberg. FBR banking analyst Paul Miller on BofA's agreement to pay Fannie Mae $11.7 billion to resolve home-loan repurchase claims.
CNBC: Weisenthal Pushes $1 Trillion Dollar Coin
It's all politics aboard the U.S.S. Ponzi.
As a card-carrying Keynesian proselytizer, Joe Weisenthal is generally not willing to consider spending cuts, so Friday on CNBC he attempted to make the case for the $1 trillion platinum coin as a means for Obama to avoid a debt ceiling showdown with Republicans.
Joe makes his full case here...
Now, putting the sheer legal idiocy of the proposal aside, and CNBC's John Carney has written a good article about why it is indeed, legal idiocy, the simple reality is that for this retarded idea to work, there has to be some justifiability, or even remote credibility of the "legal tender" backing the value. Sadly as the chart above shows, there can't possibly be such justifiability. Unless...
Moody's, Fitch, S&P Reaffirm Notre Dame's #1 Ranking
Text 'IRISH' to the Red Cross at 9999 to donate $10 to disaster relief.
Krugman Joins The $1 Trillion Coin IDIOT Brigade
Taking Krugman's insanity to its logical conclusion -- Why not just mint a hundred $1 trillion platinum coins and pay off the entire unfunded liability of the national debt?
