Indian Casino: Santa Ysabel Casino files for bankruptcy - KSWB

The tribe's bankruptcy filing lists 50 creditors, with the county owed the most, more than $3 million. It also owes the California Gambling Control Commission $100-thousand. State officials tell Fox 5 the tribe is "delinquent" in its payments, but would not elaborate.

Oh, say can you see by the loans being light
What so proudly we hailed at TARP's last gleaning?
Whose Broadway pay and bright stars fought the perilous fight,
O'er the electrons we watched were so gallantly streaming?
And the Unabankers red glare, the bonds bursting in air,
Gave proof through the night that our free money addiction was still there.
Oh, say does that star-spangled banner yet wave
O'er the land of the free and the home of the brave?

"Mr. Diamond, do you spell your first name with 2 'o's?"

If we've lost pavel on the jobless recovery, there will be hell to pay.

'Jobless Recovery' is nearly as daft as a 'Famine Buffet', for those of you scoring @ home.

The question was 'Should bankers go to jail when they cheat?'.

The answer was, 'We [Barclay's] took immediate action when we discovered the wrongdoing.'

Self-regulation for the win...

How else would a jobless recovery work?

YouTube - Simon & Garfunkel - America

We have reduced the cost of labor by sacking some and lowering the remuneration of others, but since this subtracts from demand the spiral continues to head downward. Production becomes technologically more efficient but less profitable. The rate of profit falls, making credit less available and creditors still more unwilling to extend it. Less credit shrinks the productive sectors, making the financial sector the most profitable. But while the financial sector can produce interest and dividends, it cannot produce demand. Borrowers cannot repay. Down down.

There is still a cushion in the system generated by accumulated wealth. But this cushion is insufficient to generate an increased rate of profit.

At least, this is how this layman sees the situation.

Oh to have Congressional questioning like this.
Thanks to UK Parliment for his Jul 4th lesson in democracy.

1 currency now -yogi wrote:

. If he's incompetent, how did he get so rich....

They aren't swallowing his naive good guy act. Tag Jamie...

corruption has become a real problem for the US. what a shame.

Haralambos wrote:

By next month, only 165,000 of more than 1 million jobless Greeks will receive unemployment benefits,

In other words, you'd better be someone important;s brother in law in you want to collect from here on out.

(No surprise that I got on this one.)

Anyone here up for a friendly round of CRowd sourcing?

++

I would like to propose a new holiday, but I think we all need to put our heads together to make up the rules, traditions and symbolism of this day of celebration, reflection, unbridled greed.

LIBOR DAY: (Lying In Banker Oriented Rhetoric) Day will be an international holiday, set aside for 99%ers to unabashedly make shit up about their own financial situation.

++

We need to come up with a suitable date on the calendar on which we can celebrate LIBOR DAY each year.

We need to decide on the traditions of the holiday. (Buying massive amounts of crap that we don't need with credit card rates and limits that we set ourselves?)

The iconic fictional characters and symbols that will represent the spirit of the holiday. (The LIBOR DAY versions of a Santa Claus, Christmas tree, Dreidel, Easter Bunny, Easter Eggs, Tooth Fairy, Leprechauns, Pilgrims, Turkeys, Jack-O-lanterns, etc.)

Parade concepts for the LIBOR DAY. (Inflated things--like Macy's Day Balloons?)

Traditional clothing to be worn on LIBOR DAY. (Pinstripes? Rolexes?)

Traditional Greetings to be exchanged on LIBOR DAY. (Screw you! ?) (Screw me? Screw YOU!)

Traditional Libor Day songs.

Etc.

Okay--you guys have the idea....now....Run with it.

On your (German) mark.....get set.......go!!!

Any Yankee Doodle Dandies here that were born on the 4th of July?

In Defendants Day

Corps viewed as American have used up the American market and is now has the world to expand, thus less need for the American worker.

"I love Barclay's. I love the people at Barclay's. ...I love them like brothers. Like brothers in crime. Wait, strike that..."

Diamond: 'The goal wasn't to fix rates, it was to impact LIBOR...'

lol

If Bob was in front of Congress, imagine the complimentary conversation we'd be hearing instead?

Is everyone gathered for the state sponsored 15 minute Hate?

Rajesh wrote:

Is everyone gathered for the state sponsored 15 minute Hate?

It was only five - or three?

ciao.

Martin Wolf said: "Let us not be too grudging: the decision to allow the ESM to recapitalize banks directly is possibly very important, both in itself and for what it portends.

... Nevertheless, the biggest danger is that the economics of the euro zone are deteriorating fast. Joblessness reached 11.1 percent in May, the highest on record for the zone."

And Angela Merkel was only willing to allow that direct recapitalization in exchange for establishing a central supervision authority for those banks. That's going to take time and political wrangling, I would think. IIRC, press reports have suggested it would take several months to a year.

Sebastian

Jackdawracy wrote:

Give me LIBORty, or give me debt!

Perfect! That will be like LIBOR DAY'S "Merry Christmas!"

I think he was ill-advised on protocol. Sure, when you're taking a private phone call from "Whitehall" or The BOE, first names are hunky-dory. When you're on TV on the record, and they are calling you Mr. Diamond, you should observe formalities. You ain't testifying by satellite link, Yankee.

Sebastian wrote:

That's going to take time and political wrangling, I would think. IIRC, press reports have suggested it would take several months to a year.

Yes, it will take much more time than they have.
Even if they could get it done in a week, it won't change the main street economics.
It's too late.

the true frailty of our socioeconomic political system is on full display, here. it's obvious we need to completely reform and overhaul our financial system and that many of the people who have position to do so are on the take... the ones elected who would actually like to effect change don't know HOW to do it and joker laughs all the way back to his big, rich bank.

we know we have a problem, we know what the problem is, we know who the criminals are, but we have no clue how to fix it. they truly have us by the balls right now.

3-month LIBOR didn't change at all from March 5th to June 25th. LIBOR is still being fixed.
BBA LIBOR USD 3 Month Analysis - US0003M - Bloomberg

RATM wrote:

LIBOR is still being fixed.

LIBOR is fixed daily.

"It's for the children" (the Unabankers progeny, that is)

Jackdawracy wrote:

In Defendants Day

Oh! I missed this one!

This needs to be the title of the traditional Libor Day movie--do we have a screen writer on the blog?

(It can be something wholesome like "It's a Wonderful Life," or historic like "Ben Hur" or funny and animated like "It's the Great Pumpkin, Charlie Brown.")

" Final payoff..."

Hostage Racket - Clusterfuck Nation

Around the turn of the century, the family clan was in Prague and we boarded a subway, and I was wearing shorts with a button on my back pocket, when a little slap and tickle occurred and I reached for my wallet and slapped a hand that wasn't mine in the process, and we got on board, and for 3 stops, I was sitting directly across from the would-be perps, creepy that.

RockyR wrote:

corruption has become a real problem for the US. what a shame.

Eric Holder is on the case, it's contained.

Fasb & Furious

Lobbyist Ben Dover wrote:

How else would a jobless recovery work?

I knew I should have started a school of scam and ponzi for the little peeps and it still might not be to late since I have found a Bureau inside the US State Department that funds Democracy Grants that rivals US School Loan Balances in total without a lifetime of slavery debt. Wave your Flags Peeps.

Bend It Like Barclays

/

Terminator X - The Rise of the HFT Machines.

Terminalator X - The Rise of the HFT Machines.

Spain’s national court Wednesday opened a criminal investigation into the stock market listing of Bankia SA, naming Rodrigo Rato and 32 other former board members as suspects in the case, court documents showed.

Most of the shares in the listing were sold to Spanish retail investors, many of them clients of the bank itself, and these investors have now lost more than 75% of their investments in less than a year. They claim that Bankia’s listing prospectus was misleading.

Spain probes Bankia IPO; Rato named suspect - MarketWatch

Diamonds Are A Regulators Best Friend

Another Sandals with a Bit of Optimism

This was up today in the NYTimes: - NY Times

What Greece Makes, the World Might Take

'It’s hard to believe now, but Greece outpaced the average European growth rate for much of the last 60 years. Its farmers turned bombed-out fields into modestly productive farms. The government rapidly shifted parts of the country from an agrarian economy into an industrial one that developed specialties in construction materials — concrete, aluminum, rebar — and generic drugs.'

'One of the most destructive developments, Ventouris says, came when Greece joined the European agricultural-subsidy system in 1981. Money from richer European taxpayers flowed to Greek farmers to upgrade their farms, “but the Europeans and the Greek government had no control mechanism,” he says. Instead of investing in new tractors, “the farmers were taking the money and buying things like Mercedeses.”'

Anonymous Bosch wrote:

Festivities could include roasting weenies over banskter effigies.

charcoal briquettes shaped like banksters could be a hot item

But you see, all Bob's got is the idea of planting the seed that criminality only happened 10% of the time. As if he has no defense whatsoever.

Diamond: "Rate setters have been with Barclays for 25 or 30 years, they were some of our most senior staff"

RATM wrote:

Damn silverlight/moonlight. Finally got it working though.

O you got it figured out heh ? I suppose I'd better myself - wife's complaining that she can't get to many webinars via Ubuntu cos this silverlight lark so I said I'd figure it out..

I had the same problem so I went to the BBC Democracy Now website as my alt place - but it was over by then and they were onto the Giant causeway in (N) Ireland in another meeting - very interesting but hardly germane.

Don't go anywhere - I might need your advice as I try and get moonlight going on Ubuntu...

Saving Ryan's Private Bank.

HFT: "Hey we just traded you to Tampa, for a job to be named later, pack your bags."

skk wrote:

I might need your advice as I try and get moonlight going on Ubuntu...

Moonlight - Download

The version parliamenttv tried to install on my comp didn't work, but that link did.

Scam Silent Scam Deep.

I've (probably) seen every war movie ever made.

Saw a 1955 one i'd never heard of, that was quite good. The Purple Plain

Rob Dawg wrote:

"American Lie" (unrated board of directors cut)

Yes! The iconic "American Lie" song by Don McLean!

(Chorus)

Lie, Lie, of course the Libor's a lie
Bought my Chevy but the levy it was way way too high.....

And good ole boys were drinkin' whiskey and Rye
laughing "this whole "Libor" shit is a lie"

(I only need a hundred more lines or so...)

Gonif With The Win

The American Ream!

have at em dilbert

Jackdawracy wrote:

Last time I hugged a banker, I felt a tug on my back pocket where my wallet is, as he was shaking my hand.

Bankers don't do it up close and personal like a pickpocket or a robber with a gun, they use electrons or elections.

HTML 5 !!!!

Is that a Scorcese flick?

To quote Woody Guthrie:

As through this life you travel
You'll meet some funny men
Some rob you with a six gun
Some rob you with a fountain pen

As through this life you travel
As through this life you roam
You'll never see an outlaw
Take a family from their home

Jackdawracy wrote:

The Purple Plain

I may have missed that one. Added to my queue.

Jackdawracy wrote:

Diamonds Are A Regulators Best Friend

Diamonds Are For lever?

Three Days of the Libor

Q: How do you hug a bankster?
A: You start by wrapping your hands around his neck and pushing hard with your thumbs.

Favs:

Made during WW2: Lifeboat

Post war: Soldier Of Orange

Operation Overloan

The Man Who Shot LIBORty Ballance

Off to do a line dancing demo at our little community 4th parade then up to the cool of the mountain lake for the evening fireworks with friends. More good friends, good food and a beautiful location.
Have fun on the 4th all. Careful with the fireworks.
Save the world for LIBOR while we are gone.

YouTube - Spyro Gyra Bob Goes to the Store

Blackstone Down

The Bank at Remagen

d

Did we do this one? A Bank Too Far

Collateral Damaged

skk wrote:

a window collapsed to a bar had quietly opened up asking me if I'd let it install Microsoft Silverlight codecs.. - bit useless if its squished like that no ?

??? After the install, parliamentlive.tv had to install another codec before the vid would play. I've tried to get moonlight installed before but this is the first time it worked.

"It's a Wonderful Lie"

"Worth by Worthless"

S.

Pavel, Since no one else is commenting on your short essay, I'll do so.

First of all, I reckon that it's pretty accurate as far as it goes.

One additional factor is foreign trade. We've unthinkingly shipped a LOT of jobs overseas because we aren't very bright and have bought into the highly questionable assumption that free trade is everywhere and always good for all parties. The result of exporting jobs is that the labor component of prices is reduced and contributes to the economy of Vera Cruz or Mumbai, or Nanjing rather than the economy of Atlanta or Detroit. The jobs created here as a result of free trade are not very numerous -- Many are in natural resource production which is not labor intensive and many others are in transport of goods which is -- in this day of containerization -- quite automated.

It's not entirely that we can't compete. It's that we lose more jobs than we gain, and the somewhat higher quality of the jobs we create doesn't make up for the losses. On top of which the only high paying job that I'm aware of that is open to a slightly dimwitted high school dropout is congressperson, and there is a statutory limit on the number of those jobs.

Mehr Demokratie e.V.: Verfassungsbeschwerde zu ESM und Fiskalvertrag in Karlsruhe eingereicht

"As always judge in Karlsruhe, the next step must be to take care of the citizens about the future of Europe. And for that we need a directly elected Convention, which considered itself at rest and with alternatives as well as good ideas, the future of Europe. "[Here the whole video to submit.] Is represented civil action brought by the Leipzig constitutional lawyer Christoph Degenhart and Minister of Justice Herta Däubler-Gmelin. Connected to the notice of appeal is an emergency petition that will stop the ratification of treaties by the Federal Republic for the time being. "We complain of the contracts, because they mean a dismantling of democracy in two ways," explains Däubler-Gmelin. "For one thing forever budgetary powers and sovereignty rights of the Bundestag to Brussels to be delivered.

Questioner: "You must be grossly incompetent if you were not complicit in what was happening."
Diamond: "Is there a question?"

Diamonds are for lever,
They are all I need to please me,
They can stimulate and tease me,
They won't leave in the night,
I've no fear that they might desert me.
Diamonds are for lever,
Hold one up and then caress it,
Touch it, stroke it and undress it,
I can see ev'ry part,
Nothing hides in the heart to hurt me.
I don't need a loan,
For what good will loans do me?
Diamonds never lie to me,
For when trust gone,
They'll lustre on.
Diamonds are for lever,
Sparkling round my little finger.
Unlike mien, the Diamonds linger;
Men without mere morals who
Are not worth going to heed greed for.
I don't need a loan,
For what good will loans do me?
Diamonds never lie to me,
For when trust is gone,
They'll lustre on.
Diamonds are for lever, for lever, for lever.
Diamonds are for lever, for lever, for lever.
Forever and ever.

YouTube - Shirley Bassey - Diamonds Are Forever (The Queen's Diamond Jubilee BBC Concert 2012)

ResistanceIsFeudal wrote:

Trustbusters ( Fantasy / Science Fiction, 2012 )

("Whose margin ya gonna call? Trustbusters!)

I repeat, barclays got something out of this but so did all borrowers too. The ones who got screwed were the people who should have been paid more INTEREST, right? Rentiers, right? Nobody should be cheated, of course, but at least it wasn't the poors for once.

All Quiet On The Western Font

Unintended double irony-- it's the best kind...

The Mouse Clique That Roared

If the fuckers keep their bonuses, Liz, there is less spending power for everyone else.

Dude, Where's My Libor?

lawyerliz wrote:

but so did all borrowers too

No, what about the municipalities? They would typically borrow, and then buy an interest rate swap to protect against higher rates, but then rates were manipulated lower, causing municipalities (Burmingham, AL) to be forced to pay to exit the swap. Also, when municipalities borrow, they are typically pushed to invest most of what they borrow into some kind of bond until they need it, but if rates were manipulated lower they get less. I think a lot of dead bodies are hidden at the municipality level.

lawyerliz wrote:

Rentiers, right? Nobody should be cheated, of course, but at least it wasn't the poors for once.

Pension funds, school boards, city gov.

Rigging the system for self profit or self protection or whatever - is cheating, lieing, stealing.
Regardless of who lost or won.

Duke of Con Dao wrote:

Fiends with Benefits

Reality Bites Back

Reality Bytes

"Reality, what a concept!" Robin Williams.

10,000 B.P.

Once Upon A Time In Invest

The Parallax Screw

The Good, The Bank and the Fugly.

It's A Wonderful {MEFO) Covered Bond

Sideplays
Balk the Line

Two MEWs Force Sister's IRA

Now he's plotting to steal from small countries in Africa....

lawyerliz wrote:

Obviously there should be no boni, or they should be taxed at 90%

That would be a different set of facts.

Debt Becomes Her

The "What the ?" Club

The Day the Worth Stood Still

Killed Bills

Ah, here we go: "Swindler's List"

S.

The American Fiend (orig. Wim Wenders)
American Werewolf in London

La Grande Delusion

Doctored Strangloan: Or how I learned to stop worrying and love the debt bomb

The Ignore Sanction

Avertical Limit

lawyerliz wrote:

I repeat, barclays got something out of this but so did all borrowers too. The ones who got screwed were the people who should have been paid more INTEREST, right? Rentiers, right? Nobody should be cheated, of course, but at least it wasn't the poors for once.

no no no no no.. a simple Turkish businessman - please god let him be a kebab-shop owner for stereotyping purposes ( as stand-in for the small businessmen at large ) got screwed too - they were (mis)-sold interest rate swaps.. and when Libor was held down - they had losses on their hands.

Jackdawracy wrote:

Avertical Limit

Loan Warrior

vtcodger wrote:

First of all, I reckon that it's pretty accurate as far as it goes

I thought it represented a kind of dilemma, defined as defying a satisfactory solution.

My Fair Libor
12 Angry Traders

Mike in Long Island wrote:

Loan Warrior

Mad Maxed

josap wrote:

As the economies worsen the people blame the government.
The government needs to blame the bankers.

Moot point-- they are the same people.

The Loss Boys

HighLIBOR: The Dickering

Lend Of Daze

Debit to me baby!

I just don'5 see how you could unscramble this egg.

adornosghost wrote:

Moot point-- they are the same people.

That's why I said they are joined at the hip.

The mask of zero

Goodbye Mystery Chips

Gip me baby one more time

lawyerliz wrote:

I just don'5 see how you could unscramble this egg.

I don't see how it can continue as usual either. WASS.

RATM wrote:

I don't see how it can continue as usual either. WASS.

That's the plan.

RATM wrote:

I don't see how it can continue as usual either.

We really can't.
But as TPTB benefit, how does it change?

The Muppets Rake Manhattan

Sums Set Boulevard

We are all really funny now.

The Bridge Loan On The River Fi

Invest Side Story

Merry Proppings

Erin Brokeovich

adornosghost wrote:

ike the Second Law-

Quantum physics has taught how to put perfume molecules back into the broken bottle:

CERN Physicists May Have Discovered Higgs Boson Particle - NY Times

The Tranche Connection

Deep Stim-pack

Fatfinger (a favorite Bond flick)

Isn't this the epicenter of the American Evangelical Movement:

In Focus - Colorado Wildfires: The Aftermath - The Atlantic

"The Last of the Bohicans"

S.

Beach Banker Bingo

Lootsie

lawyerliz wrote:

I repeat, barclays got something out of this but so did all borrowers too. The ones who got screwed were the people who should have been paid more INTEREST, right?

It's not 100% clear to me that Barclay's always manipulated the rate down.

If they owned notes, and needed a great mark at end-of-month or quarter, they might want to jam it up.

Trading Decimal Places

The Boys of Bummer