Speaking of robbery:

Regarding The Pension Protection Act, i.e, the little matter of DOL underwriter exemptions, which allow hedge funds to use pension funds to invest in derivatives like CDOs ?? Take a look at how Big Brother is at work, because, there is a tsunami headed towards pension accounts, which will be ground zero for money market liquidity!!! DANGER!!! read your prospectus and head for the high ground!!!
United States Government Accountability Office
GAO Report to Congressional Committees
PENSION BENEFIT
GUARANTY
CORPORATIONJuly 2007
http://finance.senate.gov/press/Gpress/2007/prg071307b.pdf
In January 2007, DOL officials orally directed PBGC to have no direct
contact with OMB without DOL’s approval, a condition that PBGC
officials believe has strained the relationship between DOL and PBGC
budget offices.
DOL now closely monitors PBGC’s interactions with
OMB by attending meetings and participating in telephone calls. DOL
officials said that such action is needed to coordinate with PBGC in
order to provide OMB examiners with a consistent message. OMB
officials said that DOL’s review of PBGC’s budget submission was
useful.
One former PBGC
Executive Director also noted that PBGC could not be just like any other
DOL agency, because if it were, the Secretaries of the Treasury and
Commerce, by a two-vote majority, could theoretically direct policies of
another federal cabinet department.
The uncertainty of PBGC’s status has resulted in confusion over the extent
to which DOL has the authority to manage PBGC’s operations. According
to our internal control standards, agencies should ensure that key areas
of authority and responsibilities are defined and communicated. However,
neither the board, DOL, nor PBGC has developedformal policies and
procedures to define its authorities and responsibilities. Instead, PBGC
officials typically react to DOL’s periodic written and oral
communications, which PBGC officials said sometimes become a part of
PBGC’s operational framework.
** Well worth looking at the fine print in the 1000 page PPA doc, which both Obama and Hillary voted for…obviously McCain as well, as SIFMA is highly connected and will tap your cash accounts!!

That's one way to monetize a collateralized debt obligation.

Now, all we need is for the government to bail out the robber when he is required to give the money back and we will have come full circle.

"Financial institutions and companies in the securities/futures business are reporting sizable increases in the amount of losses and suspicious activity attributed to computer intrusions and identity theft, says the Washington Post's Security Fix blog. The Post obtained a confidential report compiled by the FDIC which analyzed Suspicious Activity Reports from the 2nd Quarter of 2007. SARs are filed when banks experience fraud or fishy transactions that exceed $5,000. The bank insurance agency found that losses from computer intrusions averaged $29,630 each — almost triple the estimated loss per SAR during the same time period in 2006 ($10,536). According to the Post, 'The report indicates that the 80 percent of the computer intrusions were classified as "unknown unauthorized access — online banking," and that "unknown unauthorized access to online banking has risen from 10 to 63 percent in the past year."' Another set of figures analyzed by The Post looks at similar increases affecting the securities and futures industry."

Slashdot | Banks, Wall St. Feel Pinch from Computer Intrusion

"The FBI plans to review the bank's foreclosure records for clues."

Well, that's at least 1 million suspects to start questioning!

We will return to the days of the Depression - including the likes of Bonnie and Clyde, et. al.

Until they killed a working man, they were viewed as heroes by many.

300003030-03i32i5u3285

Friggin' halosacn. There I changed the damned post. GOD I hate haloscan

Damn Stolled through the Encino hills today...all the way over to Bel Aire.

For Sale signs...many.

Went up to a posted REO. $2.2M house, looking through the windows...GUTTED. Toilets gone. Kitchen cabinets...all doors and drawers gone. Counter tops gone. All trim around the fireplace...gone. A/C units gone. Carpet...gone. It was INSANE.

New construction just a block beyond. Contractor notice to stop work due to unpaid $30K. Huge atrium with floor of unfinished plywood, flooded...work stopped 2.01.08. The place is ruined.

In the $3M+ neighborhood...two signs advertising short sales.

I assume these people also robbed the bank.

I assume they were ARM'd as well.

Cheers,

In reality, wouldn't that mean that he took the bank's money twice?

"I've got one arm, I guess I must be the guy who did it!"

The Fugitive

(Life imitating art)