2009 Bank Failures 5 and 6
Submitted by
CalculatedRisk on Fri, 01/30/2009 - 3:30pm (187 comments)
in
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These are rounding errors.
Three of my favorite banks.
Nemo?
7
Haloscan International Holdings - FAIL
Whoops. I believe third is Nemo, III.
Dont close my bank...please
Vegas book had over/under at 4.
Vegas book always wins.
Fail five banks, get the sixth one for free
WOW
And if you've ever been in/through Tappahannock, you know you've been somewhere.
Bank of Essex couldn't be involved in CRE because there's absolutely no CRE down in the Northern Neck of Virginia.
Isn't Ocala sort of "ground zero" for the central Floria housing bust?
At the rate of 6 per week...It will only take a DECADE to shut down the bad ones. This is the fastest I have EVER seen the Gov't get anything done. GO TEAM!
the new thread pileon?
Are these FDIC purchase agreements selling the store?
Your deposits are liabilites.
These are rounding errors.
Nemo | Homepage | 01.30.09 - 6:39 pm | #
FSM curse you Nemo. Always first and with a relevant and entertaining post. You set too high a standard.
bank of essex: speciality in financing cigarette boats and black painted 747's
Banks can fail. That is all you know and all you need to know.
OT:sbux
there new plan to save money? don't brew coffee(after12pm)
So i ordered my standard venti drip. Sorry, you'll have to wait, but it's on the house!
Roflmao---a brilliant strategy!
Schultz must be contemplating a TARP Try.
all yur desposits r belongz 2 Sheila.
Even the credit unions are screwing up? I thought they were sanitary:
KansasCity.com | 404
Still bankers hours on the Left Coast. Nice geographical dispersal. Is this an example of Leader O's plan to share the pain? At least they found buyers even if they had to throw in some free porkchops.
Vegas book, that's 3 on the day, so I'm still I'm the money on my under call.
But I'm nervous. CPK orders brisk on the West coast.
Tappahannock is actually a boom town. Pop sensations Jason Mraz and Chris Brown both hail from this area!
Banks can fail.
reptillian | 01.30.09 - 6:51 pm | #
Those that can, do. Those that can't... Teach?
"Darkest hour just before the dawn."
Show me S&P 500 at 210. Cali coastal houses at 27500.
Dawg, its after 3 on the left. Those guys are sipping martinis at the 19th hole, after a brutal 9 over round...
I should know, this is from my blackberry.
Dawg, its after 3 on the left. Those guys are sipping martinis at the 19th hole, after a brutal 9 over round...
I should know, this is from my blackberry.
What would Madoff do? | 01.30.09 - 6:55 pm | #
LOL. Time we started playing banker sponsored shotgun tournaments with real shotguns. What do you call three dead bankers buried in the sand trap? One under par for the hole.
Ocala National Bank, Ocala, Florida is the one I spotted about 6 weeks ago from the 3rd quarter CALL reports. Back then they had a Texas Ratio of over 300%. I'm not at all surprised this happened.
Ray
LOL RD.
I do miss the free golf from my banking days.
Comments
What do you call three dead bankers buried in the sand trap?
Rob Dawg | Homepage | 01.30.09 - 6:58 pm | #
A good start?
"Isn't Ocala sort of "ground zero" for the central Floria housing bust?
Nemo | Homepage | 01.30.09 - 6:44 pm
Nemo,
All of Florida is screwed. I don't know that Ocala is any better or worse than the rest of the state.
A fun one here...
6 /1990 IMPROVED $36,000
12/2001 IMPROVED $100
9 /2002 IMPROVED $33,700
5 /2003 IMPROVED $52,800
7 /2005 IMPROVED $100
3 /2006 IMPROVED $140,000
3 /2008 IMPROVED $100
12/2008 IMPROVED $13,500
This place needed a few thousand in materials and some labor and you could have moved in. The place was NEVER worth 140K.
Chris
I do miss the free golf from my banking days.
\t Gary | 01.30.09 - 6:59 pm | #
True story. When we bought the golf course house the insurance company insisted on a visual confirmation of condition. My agent played the course, looked up from the 7th tee, visually inspected my house and charged the round as a business expense.
anry --
I stopped reading at "Kerry".
I'm sorry but that darkest just before dawn phrase is plain wrong
The sun is always shining above the clouds may be annoying but at least it's the truth
And no, water is not wet. That is like saying salt is salted (water is liquid as salt is salty)
All of Florida is screwed. I don't know that Ocala is any better or worse than the rest of the state.
Ocala was one of the hot spots for retirement homes. Although when I looked at the various banks based in Marion county, that bank had much worse capitalization problems than any of the others.
All of Florida is not necessarily screwed, some areas let the bubbles get to their head much more than others.
This site takes all the guess work out
connect2utah.com - Page Not Found
RD, your agent must have an army of cousins on the east coast. I've met "him" several times.
This site takes all the guess work out
connect2utah.com - Page Not Found? videoId=49865
Ambush chicken pasta was too scary.
I wonder where the charge would go if he shanked one into your kitchen window!
Correction...
This site takes all the guess work out
FDIC Careers
[The place was NEVER worth 140K.
Cobradriver ]
You have no idea about value until you visit coastal CA. $1MM buys some complete Korean war era 1bd/1ba dump on .1/acre 3 blocks from the ocean on a busy street.
CA is in for a nasty surprise as the defaults roll in and fear rules.
I visited 4 banks today. First bank refused to cash a check of the couple in front of me.
A grizzled patron waiting in line advised them to go to Pete's Liquor, to which they said "no, no, but thanks". Coincidentally,
that couple beat me to the second
bank on my list, and when I left they were still discussing cashing their check with a manager. Between the second and third banks, a motorcycle raced past me, the driver looking back at a police helicopter that was flying in circles. The radio at time reported a bank robbery in the vicinity, and the guy I saw was on a racing motorcycle At the third bank, the computers were down because of a security breach, and they could not operate their cash boxes. I took 30 minutes to conduct other business elsewhere, and returned to get a cashier's check, which I then took to the fourth bank to cash without incident.
One thing we're going start seeing very soon is the collapse of FRE/FNM preferred stock rippling through balance sheets in even non-bubble areas.
5% of Ocala's assets were GSE preferred and MBS. Doesn't seem like much, but considering that a well-capitalized bank has a cap ratio of 8%...
Actually there is some CRE in the Northern Neck, some typically ugly strip development in a typically ugly small southern town.
I live down the river from Tappahannock and actually go there from time to time, usually on my way somewhere else. It, too, is a typically ugly, strip developed small southern town. What I really don't understand is why would the Bank of Essex, a hick bank in a very rural county, buy up these far flung failing banks. They bought one near Atlanta not too long ago. I would love to hear an explanation of that particular business plan.
So can it be inferred that Bank #4 was a total loss?
If there are no uninsured deposits and it isn't sold off...
I dreamed that I was falling through space. I went too close to Earth and was captured by its gravity. Caught in orbit, I realized that there was no way out, so I set my ion jet-pack to descend, slowly into the atmosphere. Upon my arrival on the ground, I obserevd earthlings exchanging paper for goods and services. I had none of those papers. Without any friends on Earth to give me some paper, I realized that the only way I could obtain those valuable papers was through theft.
I have no idea if this has been linked already, or discussed to death. I apologize if a repost:
Strange Occurrences, and a Story about Naked Short Selling | Deep Capture: exposing the crime of naked short selling
"Evidence suggests that Bernard Madoff, the prominent Wall Street operator and former chairman of the NASDAQ stock market, had ties to the Russian Mafia, Moscow-based oligarchs, and the Genovese organized crime family.
And, as reported by Deep Capture and Reuters, Madoff did not just orchestrate a $50 billion Ponzi scheme. He was also the principal architect of SEC rules that made it easier for naked short sellers to manufacture phantom stock and destroy public companies a factor in the near total collapse of the American financial system."
What I really don't understand is why would the Bank of Essex, a hick bank in a very rural county, buy up these far flung failing banks
weemsva | 01.30.09 - 7:12 pm | #
Synergy! I don't know what it means in this context, but apparently, neither do they.
I realized that the only way I could obtain those valuable papers was through theft.
visitor from Zendor | 01.30.09 - 7:17 pm | #
I hear that Area 51 offers low interest rate loans to bona fide Space Aliens.
"So can it be inferred that Bank #4 was a total loss? If there are no uninsured deposits and it isn't sold off"
Location sounded like suite in a office building
And I, for one, welcome our new alien real estate investor overlords.
Madoff did not just orchestrate a $50 billion Ponzi scheme. He was also the principal architect of SEC rules that made it easier for ânakedâ short sellers to manufacture phantom stock and destroy public companies â a factor in the near total collapse of the American financial system."
StewPDX | 01.30.09 - 7:18 pm | #
Yeah, right. I be he has Iraq's WMD's, invented a hurricane generator to cause Katrina and buit Abu Garib too!
"So can it be inferred that Bank #4 was a total loss? If there are no uninsured deposits and it isn't sold off"
Bank #4 was basically real estate developers creating a bank for their own projects backed by FDIC funds...
Synergy!
sdtfs | 01.30.09 - 7:19 pm | #
That is the word I was looking for! That and they will make it up on volume!
Steele becomes first African-American RNC chairman
A map showing the bankrupt banks would be interesting, i.e. is contagion mainly in the worst RE areas, or all over?
Madoff is from Zendor?
Steele becomes first African-American RNC chairman
Kung Fu Panda | Homepage | 01.30.09 - 7:24 pm | #
I think jg and Morocco's heads just exploded.
Steele becomes first African-American RNC chairman
Kung Fu Panda | Homepage | 01.30.09 - 7:24 pm | #
I can SMELL the pander. There are black Republicans? I did not see any at the convention. Next you'll be telling me there are black bankers....
So can it be inferred that Bank #4 was a total loss?
What it probably means, is that no other bank (nearby) wanted the building, employees, or other fixed assets, and knew they were going to get a fair share of the deposits anyway (without having to pay a premium to the FDIC).
is contagion mainly in the worst RE areas, or all over?
scone | 01.30.09 - 7:24 pm | #
Those banks in the safe areas cleverly invested out of state in the places with high returns. Just like our conservative credit unions invested in a larger entity that invested in mortgage securities. Are you surprised?
"CA is in for a nasty surprise as the defaults roll in and fear rules."
bearly | 01.30.09 - 7:08 pm | #
bearly,
I was stationed at El Toro during the last run up. Ended up working at LAX for 7 years before transferring back to Ohio. I have distant family in RPV.
Heck,I left Socal due to home prices and the taxation levels...best move I have ever made in my life.
I still stand in awe at the current run up in Cali though...
Chris
More bailouts are coming:
Insurers in Illinois, Iowa Seek Relief From States
Insurers in Illinois, Iowa and Kansas are seeking relief from individual state regulators in the form of lower standards for capital reserves after failing to win nationwide reform.
The solution to being under-capitalized is to move the goalposts!
Blackhalo - there are 5 black members of the RNC. 2 were candidates for chair (Steele and Blackwell), and another 2 nominated two other (white) candidates for chair.
I'll see if i can find the link.
As the wheels fall off I would think more time will be spent doing what used to take a few minutes.
"A map showing the bankrupt banks would be interesting"
Bank Closure Map
Ambinder of The Atlantic has been following the RNC Chair race pretty closely the last couple days:
The Atlantic Politics Channel
Steele becomes first African-American RNC chairman
Kung Fu Panda | Homepage | 01.30.09 - 7:24 pm | #
Anybody giving odds on how soon the far right will break away and form a new party?
According to the linked CNN article, Steele won the post by a voting process, not an appointment. Enough of the party delegates thought he was legit. Go figure...
Domino magazine closes. You boys prolly don't care, but the decorettes are in deep mourning. Several decorating titles have closed in the last few months.
- NY Times
Still not quite to $1B in FDIC insurance losses for the year. I've got a tally of $962.5M (using a mid-point if a loss range is given.)
Anyone know the FDIC insurance fund reserves? The last I saw was back at end of Q3 and was something like $34.2B.
Blazing Saddles?
So many companys tried to push what they once did on to their customers. Add spot shortages, new regulations, back office decimation, and some parts of the "just in time" supply change folding. Together it will make for some frustrating moments.
"A map showing the bankrupt banks would be interesting"
Bank Closure Map
LAM
.
Thanks!
There are a few posters here who are sure Madoff was part of the "Zionist" conspiracy. God, I love how fear and bad times bring them out.
Anyone know the FDIC insurance fund reserves? The last I saw was back at end of Q3 and was something like $34.2B.
Mr. Sparkle .
--does that include the FDIC bonds?
So, hearing that there is a black chairman of the RNC, I went to TPM and saw:
"Steele's history of exploiting the homeless"
"Steele linked stem cell research to Nazi medical experimentation"
Where is the cynicism?
Larry Elder must be very proud.
@What would - not sure. That insurance fund level is just dimly recalled from an NYT article.
reptillian | 01.30.09 - 7:35 pm
They were afraid to publish the truth.
"Steele impregnates white cheerleaders after drunken orgy."
Steele becomes first African-American RNC chairman
This is awesome.
Why does America hate Sioux Indians?
5 black members of the RNC
Gary | 01.30.09 - 7:29 pm | #
out of...?
Anyone know the FDIC insurance fund reserves?
Mr. Sparkle:
I think that it's between $38-40B, not that it matters because the FDIC has a temporary line of credit with the Treasury that would cover 100% of insured deposits.
Turbo Tax and Tom Daschle following Timmy's mistakes...
Wikipedia on ILC's(#4):
"An industrial loan company (ILC) or industrial bank is a financial institution in the United States that lends money, and may be owned by non-financial institutions. Though the bank itself would be heavily examined by the Federal Deposit Insurance Corporation and state regulators, a debate exists to allow parent companies such as Wal-Mart, which would remain unregulated by the financial regulators, to own such a bank. "FDIC-insured entities are subject to Sections 23A and 23B of the Federal Reserve Act, which limits bank transactions with affiliates, including the parent company." (FDIC.gov) The ILC is permitted to have branches in multiple states (which is permitted by many states on a reciprocal basis). They are state-chartered, and insured by the Federal Deposit Insurance Corporation. They are currently chartered by seven states, with most chartered by Utah. Other states permitting them include California, Colorado, Minnesota, Indiana, Hawaii, and Nevada."
Utah passed legislation to allow this in early 90's; at the time, the state's economy was much less diversified than it is now. Due to the charter law and relatively low wage rates, state leaders expected that these institutions would set up shop and generate jobs. The Wikipedia piece shows that of the top ten industrial banks in 2005, 7 were located in Utah.
Haloscan is really annoying me at the moment...
50 million?
Nah. based on the voting totals, around at least 168.
Anybody giving odds on how soon the far right will break away and form a new party?
Feckless Ness | 01.30.09 - 7:32 pm | #
Can't be soon enough for me.
@Basel - I'm more curious just because of the headline it will generate when the FDIC has to go to the Treasury for more dough.
I am confident that if just "be happy" those of us in America will be able to celebrate the Super Bowl.
While admitting that Britain is in the eye of the storm, the Prime Minister said in an interview with The Daily Telegraph that the country will see off the worst of the slowdown if the public can harness the British spirit and remain resolute and upbeat.
International forecasters say that Britain is heading for the deepest recession of any advanced economy, with unemployment predicted to pass 3 million, but Mr Brown appeals against talking the country down.
In a striking show of optimism, he declares: I am absolutely confident about Britains future. I have utter confidence in our ability to come through this. I have utter confidence not only in the British peoples determination to come through this, but that people will work together to make sure Britain emerges from this
weemsva:
better half from Tidewater and we pass through Tappahannock regularly on way south.
You're right, not much there although the country up to Port Royal along the Rappahannock is gorgeous. Better half would love to retire to a house on the water. At rate this is going, that'll be a large bucket outside the small ranch patio someday.
Blazing Saddles?
mwah | 01.30.09 - 7:33 pm | #
Next man makes a move...
In keeping with the failure theme, PHX builder Fulton Homes filed ch11 yesterday. Owe $500MM & top creditor... BAC
Ailing Fulton Homes files for bankruptcy
"Steele, the first African-American to hold the post, defeated South Carolina GOP Chairman Katon Dawson, 91-77, in the final round of voting among the RNC's 168 members. Only 86 votes were needed."
"For the duration of his campaign, Steele fought perceptions that he was too moderate to lead the party because of his blue-state roots and his former membership in the Republican Leadership Council, a group that sought to curb the influence of social conservatives in the party."
Those are quotes from the CNN reporting...here's one more:
"Steele brings a national profile to the committee, having shot to fame in the political world during an underdog Senate bid in 2006 distinguished by a series of clever TV commercials. He has since become a fixture on cable talk shows, experience that boosted his reputation as the best communicator among the field of RNC candidates."
I'd never heard of the guy before today, but it seems he has some skills. When a party gets blistered in election results, generally there is change.
So, where'd you get the idea for finance-related haiku? Hopefully from me.
Who is in charge
If the US fails there are no willing lenders to emerging markets, even Strauss-Kahn
First time global board of special interest trade reset since WWII
meh
>
Whigs?
bearly | 01.30.09 - 7:44 pm |
My Sis and BIL run a construction company in the SW. It's HQ is in Phoenix. Was 10 offices. Now 5.
Soon to be 1 maybe.
Claire McCaskill this afternoon proposed a stunning bill that would limit Wall Street Execs who accept TARP funding to not making more than the president of the United States.
How about them apples?
From Sam Stein at HuffPo
McCaskill took to the Senate floor on Friday to put an end to the surrealism. In a bill that came to the surprise of reporters, her colleagues, and the White House alike -- there was no coordination with the Obama administration, she said -- the Missouri Democrat called for compensation for employees of bailout recipients to be capped at $400,000 a year.
"They don't get it," McCaskill said on the floor. "These people are idiots. You can't use taxpayer money to pay out $18-billion in bonuses... What planet are these people on?"
NOW THAT IS AWESOME NEWS !
Daily Kos: McCaskill proposes maximum wage for TARP recipients!!! Updated [6x] with text of the bill
KFP - I don't think they'll swing any AA votes with this gambit, but the alternative was the end of the national GOP.
They were guaranteed to become a small regional southern party.
That still may be their fate, but with this pick they have a greater chance of staying relevant. The voting base nearly seized control from the financial base of the party. Nearly.
I'm more curious just because of the headline it will generate when the FDIC has to go to the Treasury for more dough.
After what happened with IndyMac last summer, I don't think we'll see any public failures costing more than $1B. The larger bank failures will be handled behind the scenes with financing done outside of the Deposit Fund.
Right now that TPTB are scared $hitless of cross and cascading defaults...
Anonymous writes:
Anybody giving odds on how soon the far right will break away and form a new party?
The republican party used to have "liberals," Rockefeller, moderates, Nixon,a dn "conservatives," Goldwater. Lately, last ten to fifteen years, it has been an alliance of business interests and religious interests.
Woohoo... Virginia on the board!
km4 writes:
Claire McCaskill this afternoon proposed a stunning bill that would limit Wall Street Execs who accept TARP funding to not making more than the president of the United States.
IMO one of our problems is that we don't pay our politicians enough. Therefore, we get the bottom of the barrel or only those who are ruled by their egos.
Off Topic, PE ratios of indices, updated from WSJ (based on trailing twelve months earnings):
Dow = 19.33
Nasdaq = 22.35
S&P 500 = 18.90
Wow! We have a long way to go.
Great, the GOP decides it's cool to have a Black guy as a prominent fixture in their party, it only took how many hundreds of years? I'm sure Black people all over the Country are super duper excited and will no doubt all vote Republican next election. I'm sure they have gotten over the dog whistle politics made popular by Reagan...I suppose it will make up for wrecking the country...
"Lately, last ten to fifteen years, it has been an alliance of business interests and religious interests."
still, more or less an extension of the southern strategy, as the electoral map shows pretty clearly. of course, the south is where creationists form a majority.
km4 writes:
Claire McCaskill this afternoon proposed a stunning bill that would limit Wall Street Execs who accept TARP funding to not making more than the president of the United States.
They are up in arms about this over at dealbreaker.com.
Comrade Kristina
It won't work. They represent a lot of scared white people. This will not reasure them.
"They don't get it," McCaskill said on the floor. "These people are idiots. You can't use taxpayer money to pay out $18-billion in bonuses... What planet are these people on?"
Pandering. What happened when Congress tried to limit executive compensation via the tax code? Companies started giving performance based stock options, which took executive compensation to totally different level.
Bankers become independent contractors; problem solved.
When a party gets blistered in election results,(for being too socially conservative...) generally there is change.
Kung Fu Panda | Homepage | 01.30.09 - 7:44 pm | #
If this guy is for real, looks like a smart move. Neo-Cons and fundies be dammed!
Gary,
I agree. The GOP is incoherent at this time. Here in Oregon, the party didn't even have a candidate for one of the 5 House races.
It's not a southern/northern divide. The civil war can't explain everything
It's definitively an urban/suburban and rural divide based on voting results
Wow, did anyone see this one?
Don't panic about your 401(k) losses. Here's why. | csmonitor.com
It's definitively an urban/suburban and rural divide based on voting results
With the exception of Hawaii and New England, every state has its Alabama.
Basel Too
SEC requirement for public disclosure of executive pay started a me too phenomenon as another lesson in unintended consequences
Water is the key...Friday thoughts... it is Friday?
All this small change wants me to play slot machines.
Nostrovia,
"Bankers become independent contractors; problem solved."
I understand your point about whack-a-mole, but making 'star' employees no longer employees isn't a bad idea. Destroying the moneycenter/former IB banks is a bit like destroying the classic 5 families 30 years ago - of course the crime will exist while there's a market for it, but crushing the hierarchy and culture and cutting the ties that bind to the 'family' aspects of the organization is a big step towards lessening the toxicity of the poison they dispense.
Cash4Gold is advertising on the SuperBowl!?!
Run for the hills!!!!!!!!!
Nostrovia,
oh for the oldskool daze of gulag denizen Misean is toast...
IMO one of our problems is that we don't pay our politicians enough. Therefore, we get the bottom of the barrel or only those who are ruled by their egos.
PSgirl | 01.30.09 - 7:49 pm | #
IMO we elect people who tell us what we want to hear, so we get skilled liars. Once a person starts spinning a message to make it palatable, it's hard to tell where to stop. Like not telling the whole truth to prevent panics, at what point is it just a lie?
Anonymous writes:
Wow, did anyone see this one?
The Christian Science Monitor | csmonitor.com coop.html
Paulette Miniter, a writer in New York, is a former reporter for SmartMoney.com.
Is she with DumbMoney.com, now?
"It's definitively an urban/suburban and rural divide based on voting results"
right on the micro (obviously so in terms of most states), wrong on the macro in that the majority presence of that suburban/rural identity is what makes the difference in statewide races.
how did mccain, a man with almost no ties to the south who fared the weakest in former CSA states in the primary, do in those states vs obama? how did he do in former union states?
nixon's grand strategy still holds. he is also somewhat vindicated in terms of seeing china's future partnership with the "free world".
I decided this morning i was going to cook a 6lb pime rib roast... (that was sitting in the fridge now 6 days)...waiting.
I went on an internet search at approx 10AM for the best..all time best... recipe.. i prefer a slow cook...but i am uncertain as to why.. prime is too tender anyway...
Time to stop kleptocracy & looting of US Treasury. Huge kudos to Sen. Claire McCaskill.
They are up in arms about this over at dealbreaker.com.
Ticker Tape of Doom | Homepage | 01.30.09 - 7:51 pm | #
Oh, the outrage, at being capped at 400K for being a fuck-up. The comparison between the compenstion for a banker and the leader of the free world seems to lack the scope and risk associated with the job.
New Republican heirarchy
Old white men (honorary with veto power)
Well spoken blacks
Women from Texas
Log cabiners
other*
Go Team!
Fortress Blocks Fund Redemptions as Shareholders Lose 96% of IPO Valuation
"
Fortress is a prime example of what happens when the secretive world of hedge funds collides with the public disclosure required of listed companies. Two years after its initial public offering, Fortress remains a tangled web of subsidiaries and partnerships that analyst Turner says is anything but transparent. The New York-based firm buys stocks and bonds through its hedge funds and whole companies through private equity funds. Last year, it started a fund that trades commodities. Fortress owns assisted living facilities for seniors, short-line railroads, newspapers and an array of distressed debt. Many of the company's hedge and private equity funds are based in the Cayman Islands. Fortress itself is structured as a partnership, which reduces its U.S. taxes and requires the company to use a diagram with five footnotes to lay out the corporate structure in disclosure documents."Anybody who bought stock in a PE/hedge fund IPO deserves to lose their shorts. The whole point of "private equity" was the "private" part that was supposed to offer greater flexibility.
km4, you may limit salary of the Bankers MR KM$, but the perks are priceless....
I hate all the chump chief economists
Chris Rupkey of Tokyo-Mitsubish UFJi, congratulations on making the list
Why not just give the post to Ben Stein
Honestly
I decided this morning i was going to cook a 6lb pime rib roast... (that was sitting in the fridge now 6 days)...waiting.
I went on an internet search at approx 10AM for the best..all time best... recipe.. i prefer a slow cook...but i am uncertain as to why.. prime is too tender anyway...
KR | 01.30.09 - 8:02 pm | #
That is not a very nice thing to say to someone who is old, fat and hungry.
The whole 'GOP is racist' argument can be dismantled as easily as the 'America is racist' argument was with Obama's election. There's a good chance that Jindal is going to be on the GOP's ticket in 4 or 8 years. He won in La., and is extremely popular. Also, a Vietnamese-American just won a house seat in La. This is the deepest of the deep south.
Identity politics is a substitute for thoughtful analysis.
OT question:
How in the hell does a mother of 6 get insurance to cover fertility treatments?
6 days in the fridge?
I would just stick a needle in it, draw up the juice and inject it.
DIY Botox.
What would Madoff do? @8:04 pm |
Capping them at 400K salary sets the right tone and tenor i.e. everyone Wall St assclown exec that thinks they walk on water gets capped as well.
How in the hell does a mother of 6 get insurance to cover fertility treatments?
these were IMPLANTED fetuses
EvilHenryPaulson...
you should have another Cordial.
Blackhalo writes:
Oh, the outrage, at being capped at 400K for being a fuck-up. The comparison between the compenstion for a banker and the leader of the free world seems to lack the scope and risk associated with the job.
Blackhalo | 01.30.09 - 8:03 pm | #
They are really playing with fire here.
It's like a pickpocket calling you names and pointing at the old lady on the bus after you catch him stealing your wallet.
Cash4Gold is advertising on the SuperBowl!?!
Comrade Misean is Dope | Homepage | 01.30.09 - 8:00 pm | #
Not so many bankers lining up to sponsor a stadium these days. Can not wait for Sham-wow field.
Basel Too,
Dunno, but that's part of what's wrong with US health care system. On the other hand, many insurance plans don't cover contraceptives, which seems stupid to me.
We'll be closer to a bottom when Citi and/or BAC make the list one of these Fridays.
Tehachapi
Esquire magazine has a chart of urban vs rural voting over the years done by the guy from fivethirtyeight.com who was ~99% accurate in predictions
I'm right on the macro
Blackhalo...after reading prime rib roast recipes...for 2 hrs..i decided they were sadly deficient.. so, i embarked on my own twist as usual. I think i am searching for a kind of holy grail. Some thousand try's later...
When big public companies slash payroll, no stock seems safe. The current bear market is already being used as an excuse in some corners to condemn 401(k)s and indulge in pension nostalgia.
But before anyone mistakes the current market slump for a reason to drive us back into pensions, consider that historically the stock market recovers and even rallies well before the job market bottoms out. So out-of-work Americans who have a 401(k), including myself, should take heart.
sebastian, is that you? are you a ghost writer?
Dunno, but that's part of what's wrong with US health care system. On the other hand, many insurance plans don't cover contraceptives, which seems stupid to me.
Kung Fu Panda | Homepage | 01.30.09 - 8:08 pm | #
These were implanted fetuses, they thought they knew how many were implanted (7), but there were actually 8. The idea was to abort the ones which were not viable, but the woman had objections to abortion.
"I'm right on the macro"
ehp, care to respond to my point about the recent election? it may be tough for a canadian to understand, but we have a 'winner take all' electoral system. that means that 51% = 99% in a presidential or senate race.
What do you call three dead bankers buried in the sand trap?
Rob Dawg | Homepage | 01.30.09 - 6:58 pm | #
amoral hazard
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There are black Republicans?
Blackhalo | 01.30.09 - 7:27 pm | #
Alan Keyes
/ducks
WWMadoffDo
You have a soft spot for Rupkey or Ben Stein?
Rupkey should know better or he should resign if he has no idea what's going on. Anything else is irresponsible
homedad43
Rt17 south to Gloucester is a pretty ride, goes all to hell after there though.
FWIW, waterfront prices dropped 30% '90 to '95, we bought at the bottom. What very little is selling currently seems to be down about the same from the absurdly high peak. I expect more discounting is to come. Stuff was just stupid expensive. 750k for a dumpy cottage with 85' of frontage.
The local banks stopped holding the loans on this stuff long ago but there is some iffy CRE and C&D on the books. Same as in the early '90s they will own it soon.
Comrade Kristina-
I'm an extremely conservative Republican that has two lovely mixed race grandkids that I would die for and a black SIL-a fact which is of no importance to my family. What matters is that he is a good MAN.
My family is pretty darned tired of all the classifications and subclassifications that are foisted on us by people who can only see race and ethnicity.
Maybe you should give the focus on superficial characteristics a rest. Try looking at people as individuals for a change. That's what this country is all about, if you read the founding documents.
Alan Keyes
RockyR | 01.30.09 - 8:14 pm | #
I am pretty sure he voted for O
@beth, check out CK's homepage
We'll be closer to a bottom when Citi and/or BAC make the list one of these Fridays.
Mannwich | 01.30.09 - 8:08 pm | #
These words ring true, sir.
I am pretty sure he voted for O'
Blackhalo | 01.30.09 - 8:18 pm | #
KEYES voted for OBAMA??
Bwhahaha!!!
o way Keyes votes for a supporter of the FOCA
Keyes tried to run against Obama in the Illinois Senate race when Jack Ryan stepped down after the sordid details of his divorce settlement got leaked...
Bwhahaha!!!
RockyR | 01.30.09 - 8:22 pm | #
Laugh away, but I know many a conservative african american, that when they got into the booth, voted for one of their own.
@beth, check out CK's homepage
Citizen Scotto | 01.30.09 - 8:19 pm | #
Sw
Laugh away, but I know many a conservative african american, that when they got into the booth, voted for one of their own.
Blackhalo | 01.30.09 - 8:25 pm | #
I don't doubt it. And, I'm not laughing at you. I'm laughing at the idea that Keyes would make such a stunning ideological reversal to vote along racial lines, true or not.
Tehachapi,
First of all the link:
How Obama Won the Election - Nate Silver on Voters for Obama - Esquire
I don't see how you can say I'm wrong there.
I know about the matter, including in America through my circle of friends and family.
The one thing different between the US and Canada is that we have a sharp division between urban + rural, with a bigger proportion of urban.
It makes sense for urban dwellers to be less socially conservative. Most immigrants go to the big urban centres so there is a better chance that there is more interaction. People with prejudices lose that as they work, play, and live with each other.
I accept the cultural dynamic in passing prejudices on, but in my opinion that is submissive to the amount of inter-group interaction. It's possible to have groups segregated but living near each other, but through chance that wall crumbles bit by bit.
Good people are good people, and there are too few around to ignore for arbitrary reasons.
Beth, sorry but your party has used Black people to incite hatred in White's to garner votes. Reagan was the first to really use the dog whistle. Steele may well be a great guy, my point is, he won't help an iota with the Black vote. See Alan Keyes for a reference point...
"I'm an extremely conservative Republican"
Beth,
did you vote for Bush? Twice?
I don't doubt it. And, I'm not laughing at you. I'm laughing at the idea that Keyes would make such a stunning ideological reversal to vote along racial lines, true or not.
RockyR | 01.30.09 - 8:27 pm | #
Nicely said.
EHP,
I respectfully submit you have it backwards ... those who are 'the other' are the one who migrate to cities to begin with ... I and my circle of friends didn't leave the countryside and go to the city and learn to be less close-minded .. rather, we didn't fit where we were and left as soon as we could. I'm personally not at all convinced that greater exposure leads to less predjudice ... given some experiences I've had with others I might suggest it is the opposite.
As a side note ... thanks for all you share in these comments.
EvilHenryPaulson writes:
It's not a southern/northern divide. The civil war can't explain everything
It's definitively an urban/suburban and rural divide based on voting results
EvilHenryPaulson | 01.30.09 - 7:54 pm | #
Indeed that is true, my dear EHP. Slavery explains oh so much more, both in terms of black/white racial issues and the politics of class among whites in the South. The Civil War is just an add-on factor.
"@beth, check out CK's homepage"
Nice pics, lovely wedding.
Also proves she should know better about the political party/race baiting BS. My grandkids, her future kids/grandkids are at great risk if we don't place our identity as Americans first and foremost.
"There is no room in this country for hyphenated Americanism. When I refer to hyphenated Americans, I do not refer to naturalized Americans. Some of the very best Americans I have ever known were naturalized Americans, Americans born abroad. But a hyphenated American is not an American at all.
Americanism is a matter of the spirit and of the soul. Our allegiance must be purely to the United States. We must unsparingly condemn any man who holds any other allegiance.
But if he is heartily and singly loyal to this Republic, then no matter where he was born, he is just as good an American as any one else.
The one absolutely certain way of bringing this nation to ruin, of preventing all possibility of its continuing to be a nation at all, would be to permit it to become a tangle of squabbling nationalities."
see the wonderful documentary aired on Frontline, "Boogieman: The Lee Atwater Story."
Comrade K is in the know.
martyseattle,
good post,
regarding the lessening of prejudices, I intentionally mentioned the word interaction. Using a work crew as an example. If everyone works well together, they will respect each other above whatever prejudices they keep. If it's separated into 2 groups socially, the divisions only grow deeper.
I never meant to get too far into the voter's psychology... just that the dividing line is more accurately urban/rural instead 'the south'
eastern Washington state has less in common with western Washington state than compared to other regions hundreds or thousands of miles away as a quick example
joe shmoe,
My point is that there are systemic reasons why a divide persists, regardless of origi
Indeed, I agree my dear EHP.
Unless the FDIC pays out..it's not a failure.
It will be later on...just not now.
See a pattern here?
Ciao
MS
did you vote for Bush? Twice?
fried | 01.30.09 - 8:36 pm | #
Me neither...
Beth, sorry but your party has used Black people to incite hatred in White's to garner votes. Reagan was the first to really use the dog whistle. Steele may well be a great guy, my point is, he won't help an iota with the Black vote. See Alan Keyes for a reference point...
There's the mistake right there. As a conservative, I don't care about the "black" vote, like everyone with a certain skin tone thinks or feels the same or has the same needs!
I care about ideas-like limited govt, individual responsibility, personal liberty, etc. that I believe are consistent with our founding ideals, and that will lead to the best outcomes for Americans both as individuals and as a people. I hope that others will see the value of these ideas-skin color is irrelevant in this arena.
And, like, Regean, I don't believe in affirmative action. I believe in a meritocracy (as opposed to entrenched special interests which is what we have in DC right now).
My grandkids and any future grandkids (knock on wood!) will be fully capable of functioning in a meritocracy.
EHP,
I DO agree the divide is rural /(sub) urba
Ah, yes. Interaction. I see. Your work crew example is apt. At the risk of confessing too many things, it was an education for me.
fried-
No, I haven't had a candidate for some time.
I've noticed a correlation between economist's predictions of USD movements, and the recipes available on the net for prime rib roasts. In short they are all over the place. I find this deeply interesting and wonder how many economists, who rule western public opinion, are in fact Anglo Saxon, as most of the prime rib roast aficionados belong hitherto.
I have now come close to a treatment of prime rib roast that is worthy of publishing. I can't say the same for my USD outlook. Its a matter of confidence.
"Our allegiance must be purely to the United States. We must unsparingly condemn any man who holds any other allegiance."
America was founded by humanists who despised organized religion and authority figures.
Live free or die, Beth.
No, I haven't had a candidate for some time.
Beth
so you're a non-functioning conservative republican?
good to know.
Didn't FFDIC call for a triple earlier today?
halosca
eastern Washington state has less in common with western Washington state than compared to other regions hundreds or thousands of miles away as a quick example
\t EvilHenryPaulson | \t \t \tHomepage | \t01.30.09 - 8:49 pm | #
EvilHenryPaulson | Homepage | 01.30.09 - 8:49 pm | #
I know this is a dead thread, but what the hell....
I am a 4th generation Seattlite, with grandparents who were completely and totally farmers. I moved from Seattle to eastern WA for a short time, and had serious culture shock. It's one thing to spend summers on grandpa's farm in Sunnyside, and a whole n'other to try to homestead with a female partner in Addy. We ended up settling outside Bellingham, a liberal college town surrounded by old school farmland. The lines are blurring a bit, and we are reaping the benefits. State jobs and growing our own food. Can't beat that!
Suburban Fed Sunk
Essex Bank takes out this one
Many more will come
I like the 5/7/5 style