Wednesday Morning Reading (July 28, 2010)

• Goldman's simple plan to bypass Volcker Rule (must see)

• WTF!?! -- BP Taking $10 Billion Tax Credit For Oil Spill

• Tony Hayward's parting shot -- it's a doozey!

• Under threat of subpoena, Goldman finally reveals bailout secrets

• CBO Says Federal Debt Unsustainable

• Update on Elizabeth Warren, Geithner & CFPB

• Update on John Kerry and the tax issue with his yacht

• Neel Kashkari wants YOU to stop being so selfish

• Sarah Palin endorsement backfires for N.H. Senate candidate

• Seven people given keys to the internet

• Magic Gel Grows Teeth

Comments

[DailyBail]

Here Are The Key Details Of Basel III

http://www.businessinsider.com/basel-iii-bank-rules-2010-7#ixzz0ux1U5KxW

[DailyBail]

Five years ago, Republicans backed tax cuts—but said deficits didn’t matter. Today, they say deficits are all that matters, but still like tax cuts. Peter Beinart on the party’s economic time warp.

http://www.thedailybeast.com/blogs-and-stories/2010-07-27/bush-tax-cuts-and-the-gops-deficit-hypocrisy/?cid=hp:exc

[Z]

Goldman's simple plan to bypass Volcker Rule...

I bet they wish it were going to be that easy. Give it some time.

[Z]

The Fed will be the key agency overseeing implementation and enforcement of the Volcker Rule, a critical piece of the bank reform bill.

"If you get right down to where the rubber meets the road...the rules will be set by the Fed without a lot of impact by the oversight council," Coll said.

http://finance.yahoo.com/banking-budgeting/article/110127/the-feds-near-death-and-rebirth-experience?mod=bb-budgeting

[DailyBail]

And so you're saying you have faith in the Fed to protect the integrity of the limited volcker rules...no chance...and did you actually read gasparino's piece...i'm not sure how you can stop goldman and others from making these cosmetic changes in order to comply with the law...

[DailyBail]

E-mails inside AIG reveal executives struggling with growing crisis

http://www.washingtonpost.com/wp-dyn/content/article/2009/12/29/AR2009122903322.html

[DailyBail]

You Thought The Savings Rate Was Going Up? Well Check Out This Chart

http://www.businessinsider.com/you-thought-the-savings-rate-was-going-up-well-check-out-this-chart-2010-1#ixzz0uxDzkMgP

[DailyBail]

Government Handouts Are Now 1/5th Of The National Income

Read more: http://www.businessinsider.com/david-rosenberg-government-handouts-are-now-15th-of-the-national-income-2010-1#ixzz0uxEQ42Bq

Chart tells the story...

[Z]

Don't judge the war by the first skirmish, come on DB.

Do I have faith in the Fed??? Faith, ummm, belief and trust???

The Fed is an evil private cartel, so, NO!!! Do I think they will be crafty at using their new laws to their advantage? YES.

Heck, sometimes you don't think the Fed and Goldman are two different entities. I don't get you DB.

[Z]

David de Rothschild's Plastiki Arrives in Sydney--Voyage Complete!

http://ngadventure.typepad.com/blog/2010/07/david-de-rothschilds-plastiki-arrives-in-sydneyvoyage-complete.html

http://www.youtube.com/watch?v=jJ_-CmwHWPo

[DailyBail]

Time for Fed to disprove PPT conspiracy theory

Commentary: Analyst charges that government is manipulating markets

http://www.marketwatch.com/story/time-for-fed-to-disprove-ppt-conspiracy-theory-2010-01-05

[DailyBail]

TrimTabs suggests government manipulated stocks

Analysts say government's financial rescues have fueled conspiracy theories

http://www.marketwatch.com/story/fund-flows-firm-suggests-government-bought-stocks-2010-01-05

[Z]

http://www.youtube.com/watch?v=v4kZd4Roies

[DailyBail]

Documents detail $4.3B in Goldman Sachs payouts

http://finance.yahoo.com/news/Documents-detail-43B-in-apf-1876299268.html?x=0&.v=4

[DailyBail]

Since the United States government stepped in to rescue the American International Group in the fall of 2008, Goldman Sachs has maintained that it would have faced few if any losses had the insurer failed. Though it was the insurer’s biggest trading partner, Goldman contended that it had bought credit insurance from financial institutions that would have protected it, but it declined to identify the institutions, Gretchen Morgenson writes in The New York Times.

http://dealbook.blogs.nytimes.com/2010/07/26/morgenson-a-i-g-failure-would-have-cost-goldman/?partner=yahoofinance

[DailyBail]

Paul Volcker: The Lion Lets Loose

http://www.businessweek.com/magazine/content/10_02/b4162011026995.htm

here you go zara...

[Z]

John Kerry Caves Like a Cheap Gigalo...http://www.youtube.com/watch?v=CodmlmxpZeQ

http://www.politicsdaily.com/2010/07/28/john-kerry-says-hell-voluntarily-pay-massachusetts-taxes-on-lux/

Sen. John Kerry, who took a beating from rivals in his 2004 presidential campaign because he was viewed as an indecisive flip-flopper, acted swiftly this week to defuse a tax controversy over his family's luxury yacht. Kerry has agreed to voluntarily to pay the state of Massachusetts $500,000 in taxes on the Isabel, even though the 76-foot sloop is currently berthed at the Newport Shipyard in neighboring (and tax-friendly) Rhode Island.

[RecoverylessRecovery]

How about featuring WIKILEAKS (again)?

I think that Julian Assange has provided an excellent SERVICE TO HUMANITY by releasing those documents and his courage deserves all the media coverage it can get. Particularly considering that, even as we speak, the CIA is actively searching for him. Next stop; extraordinary rendition to Thailand probably, where he'll be tortured for days, months, even years.

Ungrateful fucks.