I liked having a "homepage" link in my by-line.
I liked having perma-links to individual comments (I occasionally used them on my blog).
I liked having the "refresh" gadget that jumped to the last comment from your previous refresh.
The monkey is not really relevant, even if he weren't a fast learner.
It's the USA Today of commenting systems. The separate window makes a big difference. Now if only there is some way to get rid of the excessive chrome... Also, there either needs to be a preview function or the text input box needs to be a lot bigger. Any bored grease monkeys with some spare time?
I love the threaded system. My comments:
1. I found your site very easily. The extra click is really not troublesome.
2. A voting system would be very useful.
3. Even more useful would be an ignore-this-poster list. I assume somebody chained Ken to his keyboard and allowed only a rice and gruel diet until CRC works with the new system.
Or will there be any penalties for their only now "owning up to the full horror?" They are a public company. They have been lying through their teeth. My bet is that nothing at all happens to them. I bet further that they are still lying.
The fundraising will make HSBC the strongest bank in the world that has not received a cash injection from the state.
Provided there is no further impairment and no currency events and no more goodwill to write down and not being a government ward doesn't become a liability and...
...we'll have some N00B show up witha nekkid women one and poof!
'Zactly. That's why I hope this one meets the requirements and is still a little snarky.
Avatars of for teenager social networking sites. Then again if you can post a pic of a car crash, train wreck, freaked out weasel...maybe there is some usefullness
Yeah, I've been wondering the same thing and I work for Wachovia. But, I think Wachovia management is still infiltrating into Wells. Wells is probably almost as brain-dead as we are (were). When the first memo come out that Wells is "level-setting the table-steaks and orchistrating our organic synergistic growth" you'll know who is in charge, the deed will be done. Stupidity always wins.
From the Buffett letter: "We purchased many of them, however, at large premiums to net worth – a point reflected in the goodwill item shown on our balance sheet – and that fact reduces the earnings on our average carrying value to 8.1%."
uh, the amount we paid too much for all of our ballpark merger victories and private equity fiascos.
Great! That means Citi will increase their goodwill by at least $12.5B, the amount they stole from taxpayers with the latest conversion of preferred shares. Now I get it.
Testing
I opened a new comment stream with an old one still open, and the new one opened unthreaded without my needing to reset it.
The flow is improving.
don't confuse aig with its parts. i switched my $16.5K 403b over to aig last year because they have a short-term annuity that pays 3%. far better than parking money in a tiaa-cref mm fund that pays 0.68% (or even worse the mm funds at vanguard and fido -- lol).
Hi all. I have a question about this new comment system. This thread is the only one that will open comments for me. The buffet letter thread and the digest thread when I click on the comments, it starts and comes up as haloscan, starts transferring data from js-kitt and then I get a warning message about an unresponsive script. When I click close script the comments are blank, when I hit continue it all freezes up and I have to force quit. Is this a comment issue or my computer issue, or is there a neato way to get around this?
I find it odd though that this thread will come up for me. ah well.
Thank you for your reply. I will reboot but I cannot install anything. It is a work computer. I would have to ask and then of course the hemming and hawing would drag on and on.
I'm thinking we're getting there with writedowns. It's possible that in another quarter or two most of the existing bad news could be on the table -- perhaps wishful thinking but one can hope...
I doubt the economic scenarios used to calculate the write-offs have been peesimistic enough. Remeber, just 10 months ago, the CNBC types were still jaw-boning that we werent even in a recession; followed by 4 months of claims that things would bttm in 2 quarters. Only since the Fall slide in stocks has there been consistent acceptace of a bad recession in planning.
Wait til u see the mild scenarios Timmy will use for his (un)stressed test.
actually its not DB -- its the risk-love banks in austria (the irony), scandinavia, netherlands, and switzerland. i think the pessimism in europe is unwarranted and a product of ipodius-think. germany and france may have the strongest financial institutions in the developed world. it only takes a brief look at their societies to understand why they were left out of the debt-o-palooza.
I know what they claim/report. I just can't shake the feeling that they are not willing to entertain the possibility that some of their formerly East German investments are what we now call East European investment exposure. It's a "it can't happen here" problem.
Do we have any computer science guys who can merge haloscan with the jskit and allow one to hit refresh and NOT take you to the beginning of the thread?
JS-kit and haloscan did merge. They are one, like the Ring and the Dark Lord. CR is tweaking it from the kit of parts they provide. The rest of us can't go in there and bust open the code, if that's what you're thinking, because of the flying monkeys with 3-piece suits and tiny briefcases.
Way faster than halo. I negated the hot key thing. This system has not been a problem at all. Rather like it really. Just saying that someone ain't afraid of flying monkeys with brief cases is all.
Video Michael Hudson, British Economist Explains how solve this finincial problem. His explanations is simple and makes sense to me. For sure he does NOT pull any punches.
These are supposed to be referred to as investments. What's more, Ben insists that the USG will make megabucks on them. These investments will help turn SS into a profit center.
Guest Star the little window the comments open in says haloscan.com comments like it always did and then the 'transferring data from js-kit' blurbs pop up. then, iteither freezes everything or opens but with no comments no nothing. just blank white.
doesnt it seem kind of coincidence that all these bailouts are similar... no nationalization by name.. but huge capital injections in various forms... and this is happening all over the world. you would think at least one nation besides iceland would allow some failure... hmmm .... the matrix lives!
There's a serious 'herd mentality' probably cuz so many overseas Ministers of Finance were all trained at the same 10 places usuing shared curriculum, iodeology and orthodoxy.
Bobn - that's what should have been done, by virtue of this unregulated and unreserved market never should have seen the light of day in the first place, but I don't yet think that Obama is a numbers guy who gets it. That said, i am heartened by the excellent article by Joe Nocera in today's NYTimes about AIG. It seems that they are on the hook for another $300BB in CDS exposure. That's only $1K per American, which is change I can believe in.
OT,a few days ago someone asked if there were any Heroes.You can find "Lest Innocent Blood be Shed" by phillip Hallie at ABE Books online.I have given away a dozen copies over the years and currently own two.A good reminder that Moral Courage and Leadership are good ways to deal with the world as it is even in the worst of times.Pavel,I think you would enjoy this short work.
The funniest part about it is where have they been under the last 20 years of Republican thinking. Every good Repub knows that the way to increase tax revenue is to do a tax cut. Obama says he is going to raise it and the WSJ says it's not enough. They should demand he balance the budget by lowering taxes on the rich, it's the only way I know of.
What's even funnier is that the solution is one they aren't going to like (increase the tax on the top 2% by an even greater amount), so it's not clear why they are advertising this!
I thing the correct terms are now trrrrsssts and evil-doers. The commies are Chinese and they own half our debt. So, I think that makes them Bankers. Jeez, this is getting confusing.
The MSM has really gotten board the negative news train. I am watching the evening news and the sky may, could, but probably is falling. Oh, and stocks are still good "long term."
Just like Adam and Eve, said you’d set me free.
You took me to the sky, I’d never been so high!
You were my pills, you were my thrills,
You were my hope, baby, you were my smoke,
You dropped a bomb, hey, babe!
So is there any sound reasoning not rule all CDS null and void as of yesterday?
easier said than done. as soon as it's done, you're still going to have lots and lots of losses, and nobody knows where those losses will show up.
perhaps they do it and then CALPERS fails... or perhaps municipalities themselves fail... or the banks fail anyway (all are likely players in the derivatives markets).
IMO a central clearing house for all derivatives is a better idea... they won't fit in a clearing house easily, but it's possible in theory depending on what the contracts are.
all CDS and other OTC derivatives should be made illegal going forward unless they're on an open exchange with very tight regulation. (like the CME... although the CME tried and failed to be the clearing house for the CDS monster)
Dawg - left Term IV of The Curriculum on the previous thread. Would you be interested in collating that plus the Dec 29 version and re-posting on exurb? I'm perfectly comfortable with the IP being preserved and disseminated that way. As long as it's credited I don't have a problem with the feeds. Just got a little irritated with the thief who took the original, bowdlerized it, thus missing some of the jokes, and submitted somewhere else as own work. Fkn fraud.
Introduction to eTrading OFC strategies. Papers courtesy Mrkopolis.
Applied Tinfoil Techniques : Guest Presentation from Deepcapture.
Where the bloody hell are ya? A How To session with the Australian Dept of Immigration(Wall St and CT Emigration Unit).
Hero to Zero to Hero to Zero. The psychopathology of Gordon Brown.
You first! No, you! Probabalistic modeling of an Eastern Europe banking failure vs Southern Europe sovereign default.
Private Security : A Forward Defense and Investment Thesis.
Mathematics and Moral Bankruptcy : The Gaussian Cupola Function. Videoconference with David Li from federal pen.
Carbonized wheat-products : The Long Bond and the Immanence of Toast.
Civilization : Open Discussion of Prospects and Risks.
The Ancient Mariner : Captains of Idle Ships Debrief.
Term Paper : So, It Finally Happened. Get Your Hands Off Me You Damned Dirty Apes. Discuss.
The Curriculum Board reminds participants that content does not necessarily entail sound uptake, implementation, or success in future endeavours. Further investments do not guarantee future upside returns.
"OT,a few days ago someone asked if there were any Heroes.You can find "Lest Innocent Blood be Shed" by phillip Hallie at ABE Books online.I have given away a dozen copies over the years and currently own two.A good reminder that Moral Courage and Leadership are good ways to deal with the world as it is even in the worst of times.Pavel,I think you would enjoy this short work."
Thanks for the tip, Tom.
I'm a writer and I'm old. I don't go out much. Quiet and routine are best for writing anyway. This community has been important to me lately. Lots of nice people here.
You are welcome Pavel.I enjoy both your poetry and your Moral Sense.You have clearly experienced the Grace of God,which seems to be earned with pain and humility in the sense that St Theresa used the word.
How exactly does the Times know HSBC is a strong bank?
when i read stuff like this i have my doubts:
Citi approached regulators about the conversion, fearful of being swamped by further losses as the recession and housing crisis deepen. The deal would mark the bank's surrender in its battle to persuade investors that its reasonably healthy "tier-one" ratio is a convincing measure of capital adequacy. These days markets prefer measures using tangible common equity, which is undiluted by hybrid capital such as preferred stock.
"Oh, the horror! The confessional remains busy, and AIG will be dropping by on Monday."
AIG? Be prepared to deploy a division of priests, a brigade of bishops, & a company of cardinals. I would also recommend at least a platoon of popes--but that's probably asking too much.
AIG: I am beyond redemption. What is the point of confession if I don't repent?
Cardinal Umberto: Your sins are terrible, and it is just that you suffer.
AIG: suffer? No, I'm going on another retreat to get free massages.
because most 401k workers moved into the money markets... they need that blood back into the garbage equities.... anything to keep the markets up at all costs! sorta like bush's plan to have ss reinvested in equities...
All my co-workers still own equities. They just stopped looking at their statements. Maybe congress should pass a bill that would disallow 401k managers from mailing out statements during extraordinary conditions.
Not to worry. The government will find a way to distribute our 401K’s (the ones with any money left) to the have-nots soon enough. They know best so we’re told.
brutal. just talked to a friend of mine who is a manager at a home depot here in las vegas. new hires get $8/hr, rehires $8/hr, pros looking for part time work $8/hr. she said that cashiers and cart pushers used to get hired at $9-10/hr. not any more...
i have countless stories at my job... since mid 2k8 we shrunk our company by like 30%. its really really devastating... especially for ppl who previously had good income. i know a very bright chemist from our companies r&d dept who had to go from like 90k to 9 an hr temping after he was cut. oh yeah, he and his wife foreclosed and live with his kids. oh and his wifes pension is likely toast... and she has alzheimers. and a couple years ago he was dreaming of retiring in modest fashion.
I think this blog commenting on an usual source (playboy)is way off base. The fact they refer to Rick Santelli as a second rate reporter shows they have no idea what they are talking about. Rick is the only one who has a clue on CNBC. Rick is consitantly on the ball with his market view and his enthusiasm is always there. The fact that websites popped up so quickly is as much a reflection of today's technology and the disagreement that has been simmering in the public with both administrations. It is extremely doubtful that it was planned and part of a conspiracy. More likely these conservative website pounced on an opportunity to have voice/face. If you have watched Mr. Santelli this past week he tried to downplay what he ignited and get back to what he does best...the markets.
Frogs Slowly Boiled is a great analogy. But it's a myth. Frogs will just jump out once it gets too hot.
Can't say I like JS Kit. As much as Haloscan was a PITA, it worked better because of its simplicity. I can't use my usual handle - JS won't take it. Also, wait until the comments get to 3 pages and you have to refresh, then page to the last page - FUN!
I have read some very mean comments about Citigroup here, and I don't think they deserve it.
Who else will give you $4.50 in Goodwill for every $1 spent, Citigroup is who. When you have that empty feeling in your life, who is there to offer $2.50 of je ne sais crois for every $1 spent, Citigroup is who. Who is the one bank ready sacrifice itself to make its peers look better, Citigroup is who
"Je ne sais quoi", know-it-all.
EHP:
My new strategy is to hedge my big puts/shorts with junk. E.g., a Sears 2011 note at 7% is yielding 29%. The coupon might survive even if common crashes. Thoughts?
Nurse friend sent me this via a nursing blog;) about doctors’ opinions about the financial bailout package. Enjoy.
The Allergists voted to scratch it, and the Dermatologists advised not to make any rash moves.
The Gastroenterologists had sort of a gut feeling about it, but the Neurologists thought the Administration had a lot of nerve, and the Obstetricians felt they were all laboring under a misconception.
The Ophthalmologists considered the idea shortsighted; the Pathologists yelled, ‘Over my dead body!’ while the Pediatricians said, ‘Oh, Grow up!’
The Psychiatrists thought the whole idea was madness, the Radiologists could see right through it, and the Surgeons decided to wash their hands of the whole thing.
The Internists thought it was a bitter pill to swallow, and the Plastic Surgeons said, ‘This puts a whole new face on the matter.
The Podiatrists thought it was a step forward, but the Urologists felt the scheme wouldn’t hold water.
The Anesthesiologists thought t he whole idea was a gas, and the Cardiologists didn’t have the heart to say no.
In the end, the Proctologists left the decision up to some assholes in Washington.
ot surprised... trying to coop the upcoming angry mob mentality... control it. watched a bit of the end of that republican convention with rush limbaugh leading the way... very disgusting. and on the left you have the 'socialistic' feed the poor tax the rich side (not really real imo). i wonder where maria b, cramer and kudlow fit into the mix.
Haven't seen that weasel in the last few days. No wonder he didn't get along here. I think of this group like Angry Bear. Slightly left of center smart people.
Flo - brave post. The politics here veer across all the points of the left - right libertarian horseshoe and in between. Oh, and the loons who can't be categorized.
Interesting that Santelli is ranting about bailing out mortgagees, but has been silent -- for months -- on the bank bailouts, which are much more expensive.
obviously you have never watched CNBC. Mr. Santelli has been against the bank bailout from the beginning. If you don't believe then go check out the old tapes.
The winner of the "Will it go 'round in circles" award goes to Citi. Their sponsorship in NASCAR just paid (the only) dividends they will probably see this year, with a Nationwide series race win in Las Vegas. Wonder how much it cost.
Six months had gone by since the “Big Bang.” The big world was settling down. There is nothing like a nuclear exchange to make people cooperate. The fallout, traveling in the jet stream, was touring the world. That did more to convince governments about the need to lock down their weapons, and crazies, than the actual detonations. What country wanted their water supplies poisoned just because they were unlucky enough to be downwind? Especially when water, in many countries, was selling for the same price per liter as gas.
So how many of you O-pologists still have a woody for the chosen one? Seems to me we're getting the worst of both worlds. Bailouts for the big institutions and bailouts for the loafing masses that tried to game the system.
Rewarding medicrity - The Obama way!
Just think how we'll cut aggregate health care spending and add 25% to the number putting strains on the system. That'll work, right ?
im actually for bailing out the masses..,because the masses is the economy. i think obama likes to hear himself talk. hes like a car salesman. is he really guiding this administration? i dont know... but so far looks like the banking interests have there claws on him.
>Just think how we'll cut aggregate health care spending
I went the the ER last month for some chest discomfort. The actual service bill came to $600 of which I'm paying $320, which I consider fair given the hour of skilled labor, the x-ray and EKG machine use.
However, the ER also tacked on a $6000 surcharge of which my carrier paid $3000.
Yeah, me too. It barfs the code up on the screen too, like baby upchuck. Lame. You have to leave the upchuck, go back to the comment screen, and refresh, then it adds the avatar. Mostly.
I have reduced my dollar cost averaging purchase of of stock mutual funds to really low levels with my own personal funds, since the government is now my investment adviser, broker and is making purchases for me. However they keep focusing on purchasing insolvent companies. Vultures we are! Ha! Ha! Ha!
Michael the only J person I can think of who is a regular here would be Cassandra,who checks in from Tokyo from time to time.Don't think anyone from Java is a regular?
Still not sure about this JS-Kit thing.
Well, you already have the monkey recoded, so what's not to like?
At the risk of repeating myself...
I liked having a "homepage" link in my by-line.
I liked having perma-links to individual comments (I occasionally used them on my blog).
I liked having the "refresh" gadget that jumped to the last comment from your previous refresh.
The monkey is not really relevant, even if he weren't a fast learner.
"I liked having a job."
(perspective, my dear)
I like going to linked homepages--a lot. Is it possible to include the addy as your signature?
Has anyone ever said that your monkey looks a lot like Peter Sellers?
I do like the threading, though. And beggars can't be choosers.
It's the USA Today of commenting systems. The separate window makes a big difference. Now if only there is some way to get rid of the excessive chrome... Also, there either needs to be a preview function or the text input box needs to be a lot bigger. Any bored grease monkeys with some spare time?
Excessive chrome. I need less excessive chrome. It's nice do delete though when you've seen you made a mistake.
I love the threaded system. My comments:
1. I found your site very easily. The extra click is really not troublesome.
2. A voting system would be very useful.
3. Even more useful would be an ignore-this-poster list. I assume somebody chained Ken to his keyboard and allowed only a rice and gruel diet until CRC works with the new system.
Lots more to come for a long time!
Test
So is HSBC gonna tank on Monday, or was this already priced in?
I don't want to weep for my HBC puts.
Or will there be any penalties for their only now "owning up to the full horror?" They are a public company. They have been lying through their teeth. My bet is that nothing at all happens to them. I bet further that they are still lying.
Gav. Left you a private msg. Not sure how the system works quite yet.
I don't think it worked? I'm not seeing it.
NM, found it and I left a reply too.
You might be surprized. I think the markets will like this. I could be wrong. But my bet would be on puts doing well. Lets see on Monday.
What's the biggest bank not decimated by bad loans? Or, are there any healthy banks regardless of size? I'm thinking RBC might be okay.
C-r-e-d-i-t U-n-i-o-n-s
Credit Unions are good, but verify if they drank the CUNA mortgage backed Koolaide
U.S. Moves to Bail Out Credit Union Network - WSJ.com
Yeah, this seriously sh!ts me too. And the fkn reference to PIMPCO. Dammit.
Bail bail bail, while we wail. They have earplugs.
C
I really feel sorry for the poor bastards who own AIG.
...
...oh.
ot funny >:O
That's right little fish. We all own AIG now.
The fundraising will make HSBC the strongest bank in the world that has not received a cash injection from the state.
Provided there is no further impairment and no currency events and no more goodwill to write down and not being a government ward doesn't become a liability and...
I liked the money black hole better.
Nostrovia,
Ummm, okayyy...
Nah...The one from this morning...dollars circling down the drain.
That one was kewel. But this one is cool too.
Nostrovia,
I predicted CR was gonna regret avatars.
But I like having them...Hope he doesn't scrap them...Then of course, we'll have some N00B show up witha nekkid women one and poof!
Nostrovia,
Course, it doesn't appear CR is a fan of them. Perhaps the comments need a signature line instead.
"Calculated Risk replies:
Yesterday, 6:54:16 PM
The old one died."
...we'll have some N00B show up witha nekkid women one and poof!
'Zactly. That's why I hope this one meets the requirements and is still a little snarky.
Oh, I suspect you're safe with a dollar bill going down in flames.
Nostrovia,
Avatars of for teenager social networking sites. Then again if you can post a pic of a car crash, train wreck, freaked out weasel...maybe there is some usefullness
You can find good pr0n in such circles...or...so I'm told.
Maybe I can get one of a large wooden badger?
Nostrovia,
Well my blog avatar at EN is an attack weasel with a laser. I guess some people never grow up.
http://www.imf.org/external/pubs/ft/gfsr/2007/02/pdf/chap1.pdf
according to the figure 1.7 of above mentioned pdf, Q4/08 is just 1/3 of what is comming. So the question is who is going to buy bank share now, strange.
ooh, very good. it's getting better here. comments open in a separate window. Thanky you, BordLord.
I see CR has been a busy bee. Why had Wells Fargo not announced any layoffs since they acquired Wachovia?
Ive read announcements in the Charlotte Observer newsrag. Lots of em.
Yeah, I've been wondering the same thing and I work for Wachovia. But, I think Wachovia management is still infiltrating into Wells. Wells is probably almost as brain-dead as we are (were). When the first memo come out that Wells is "level-setting the table-steaks and orchistrating our organic synergistic growth" you'll know who is in charge, the deed will be done. Stupidity always wins.
£7 billion goodwill
Do banks use the goodwill line of a balance sheet for any legitimate reason, or is this loss of “brand value?”
From the Buffett letter: "We purchased many of them, however, at large premiums to net worth – a point reflected in the goodwill item shown on our balance sheet – and that fact reduces the earnings on our average carrying value to 8.1%."
What's a $60B quarterly loss between owned (AIG) and owner (US taxpayer)? I'm sure it will all just work out...
Interesting....standing by
curious,
uh, the amount we paid too much for all of our ballpark merger victories and private equity fiascos.
In other words, the my you know what is the biggest, and I will overpay just to show I can!
Ask Jimmy Cayne;-}
Someday this war's gonna end...
uh, the amount we paid too much for all of our ballpark merger victories and private equity fiascos.
Great! That means Citi will increase their goodwill by at least $12.5B, the amount they stole from taxpayers with the latest conversion of preferred shares. Now I get it.
Testing
I opened a new comment stream with an old one still open, and the new one opened unthreaded without my needing to reset it.
The flow is improving.
Home Shopping Bank Corporation should never have amounted to much.
Are there any sound reasoning for why The US keeps pouring money in to AIG.
Grandma's annuity.
don't confuse aig with its parts. i switched my $16.5K 403b over to aig last year because they have a short-term annuity that pays 3%. far better than parking money in a tiaa-cref mm fund that pays 0.68% (or even worse the mm funds at vanguard and fido -- lol).
Yes. If they stopped, JP Morgan would lose money. Any other easy questions?
Sat.Night Fright Movie....Cue scary music....."The Banker's Bailout Motel".....Where you check in,but you never check out! OOOOOEEEEEEOOOOOHEHEHEHAHAHAHOHOHO
Avalanche kills 3 on Wyoming-Idaho state line
Yahoo! 404 - Page Not Found
what ever it takes to thin the heard.
“Are there any sound reasoning for why The US keeps pouring money in to AIG.
Yes. Fear that if AIG goes down so do all of their CDS counterparties.
Hi all. I have a question about this new comment system. This thread is the only one that will open comments for me. The buffet letter thread and the digest thread when I click on the comments, it starts and comes up as haloscan, starts transferring data from js-kitt and then I get a warning message about an unresponsive script. When I click close script the comments are blank, when I hit continue it all freezes up and I have to force quit. Is this a comment issue or my computer issue, or is there a neato way to get around this?
I find it odd though that this thread will come up for me. ah well.
Thank you
Cannot reproduce your issue. Please reboot your system and, if problem persists, install service pack 3.
Thank you for your reply. I will reboot but I cannot install anything. It is a work computer. I would have to ask and then of course the hemming and hawing would drag on and on.
Just wait till BoA, WFC, JPMC and others step up to the confessional!
I'm thinking we're getting there with writedowns. It's possible that in another quarter or two most of the existing bad news could be on the table -- perhaps wishful thinking but one can hope...
I doubt the economic scenarios used to calculate the write-offs have been peesimistic enough. Remeber, just 10 months ago, the CNBC types were still jaw-boning that we werent even in a recession; followed by 4 months of claims that things would bttm in 2 quarters. Only since the Fall slide in stocks has there been consistent acceptace of a bad recession in planning.
Wait til u see the mild scenarios Timmy will use for his (un)stressed test.
don't forget the stress test on the Federal Government itself- what if growth doesn't get to the 4%+ forecast?
Are there any sound reasoning for why The US keeps pouring money in to AIG.
AIG goes down, Eastern Europe goes with it. Who do you think wrote the swaps on all that debt?
Deutshe Bank? Eastern Europe is to Western Europe what Central America was once to North America.
actually its not DB -- its the risk-love banks in austria (the irony), scandinavia, netherlands, and switzerland. i think the pessimism in europe is unwarranted and a product of ipodius-think. germany and france may have the strongest financial institutions in the developed world. it only takes a brief look at their societies to understand why they were left out of the debt-o-palooza.
I know what they claim/report. I just can't shake the feeling that they are not willing to entertain the possibility that some of their formerly East German investments are what we now call East European investment exposure. It's a "it can't happen here" problem.
Didn't Helicopter Ben say the other day he could take M1 to 10T if he deems "necessary"? Go for it, Ben.
Whoa, JSKit is opening in Halo scan? I'm sooo confused..
Me too. Is this a new inovation?
"Grandma's annuity."
Yep.
Ummm no.
Grandma's annuity at VALIC (aka AIG Retirement) is fine.
I think you are thinking of her idiot grandchildren with the escalade, 52 inch plasma, and vacation home all insured by AIG's swaps.
Do we have any computer science guys who can merge haloscan with the jskit and allow one to hit refresh and NOT take you to the beginning of the thread?
FWIW, When I refresh on a Mac running Safari, it goes to the end of the thread as expected...
JS-kit and haloscan did merge. They are one, like the Ring and the Dark Lord. CR is tweaking it from the kit of parts they provide. The rest of us can't go in there and bust open the code, if that's what you're thinking, because of the flying monkeys with 3-piece suits and tiny briefcases.
Someone did...
I liked the cute cat better.
Nostrovia,
It's easy, if you're on Vista, just hit F5 and End in sequence. Does the job.
I'm still working out this new laptop but it seems to be fine that way, quick too, like 2 seconds.
C
Way faster than halo. I negated the hot key thing. This system has not been a problem at all. Rather like it really. Just saying that someone ain't afraid of flying monkeys with brief cases is all.
Nostrovia,
Where the fk is my avatar? Slacking on the job?
C
Better, thank you. You're heading for timeout mister if you fk around like that again. The Naughty Step awaits.
C
Ian,
You might want to learn what the difference between computer science and software engineering is.
Video Michael Hudson, British Economist Explains how solve this finincial problem. His explanations is simple and makes sense to me. For sure he does NOT pull any punches.
He's a Yank.
His specialization is bancruptcy from Sumer onwards.
So is there a tally of all taxpayer bailout costs to date that will never be paid back, say since March 2007?
These are supposed to be referred to as investments. What's more, Ben insists that the USG will make megabucks on them. These investments will help turn SS into a profit center.
Guest Star the little window the comments open in says haloscan.com comments like it always did and then the 'transferring data from js-kit' blurbs pop up. then, iteither freezes everything or opens but with no comments no nothing. just blank white.
How do I make the text a little bolder. It could be the enlarged grey borders but it seems a little harder to read.
doesnt it seem kind of coincidence that all these bailouts are similar... no nationalization by name.. but huge capital injections in various forms... and this is happening all over the world. you would think at least one nation besides iceland would allow some failure... hmmm .... the matrix lives!
There's a serious 'herd mentality' probably cuz so many overseas Ministers of Finance were all trained at the same 10 places usuing shared curriculum, iodeology and orthodoxy.
Zzzzzzzzzzzzzzzzz.
Until the next meltdown: Health care insurance companies in the former U.S.A. : the path to universal health care.
Yours In Socialism,
Kilgore Trout, Comrade
You too can own a piece of the rock!
Yes. Fear that if AIG goes down so do all of their CDS counterparties.
So is there any sound reasoning not rule all CDS null and void as of yesterday?
Bobn - that's what should have been done, by virtue of this unregulated and unreserved market never should have seen the light of day in the first place, but I don't yet think that Obama is a numbers guy who gets it. That said, i am heartened by the excellent article by Joe Nocera in today's NYTimes about AIG. It seems that they are on the hook for another $300BB in CDS exposure. That's only $1K per American, which is change I can believe in.
OT,a few days ago someone asked if there were any Heroes.You can find "Lest Innocent Blood be Shed" by phillip Hallie at ABE Books online.I have given away a dozen copies over the years and currently own two.A good reminder that Moral Courage and Leadership are good ways to deal with the world as it is even in the worst of times.Pavel,I think you would enjoy this short work.
OT WSJ yesterday had this rant about The 2% Illusion - that the top 2% of the wealthiest persons tax increase can't possibly cover the new growth in spending. Barack Obama's Expensive Domestic Agenda Will Cost America's Middle Class - WSJ.com
The funniest part about it is where have they been under the last 20 years of Republican thinking. Every good Repub knows that the way to increase tax revenue is to do a tax cut. Obama says he is going to raise it and the WSJ says it's not enough. They should demand he balance the budget by lowering taxes on the rich, it's the only way I know of.
What's even funnier is that the solution is one they aren't going to like (increase the tax on the top 2% by an even greater amount), so it's not clear why they are advertising this!
I think that CDSs are bogey men, like communists and terrorists.
I thing the correct terms are now trrrrsssts and evil-doers. The commies are Chinese and they own half our debt. So, I think that makes them Bankers. Jeez, this is getting confusing.
bobn:
For Gov. declare CDS null and void requires Gov. to betray its weathly masters, and Gov. can not do that, it is not in its charter.
The MSM has really gotten board the negative news train. I am watching the evening news and the sky may, could, but probably is falling. Oh, and stocks are still good "long term."
The sky has enormous rejuvenative powers; it manages to rise up every morning, like magic.
GAAAAAAH!
It goes away at night!
Gotta start stocking up on oxygen tanks!
Nostrovia,
No they're not.
This is a "traditional" sign of a bottom. Not saying this is a bottom.
I MISS THE OLD COMMENT SYSTEM
GOOD GOD MY ONLY ONLINE COMMUNITY HAS BEEN TAKEN FROM ME
Have you tried to replicate the Hoopajoops dimension in js-kit? Might make you feel better to have your own sub-domain again...
There there hoops. When I come across your handle, I say your name out loud and I get a warm fuzzy feeling inside.
Actually, I say HoopajoopAs. That extra syllable gives it a little extra kick.
Rubbish. Get a grip. It's just a different barbecue of the soul.
C
Hoops, really, you're gonna have an anuerism. (I'm not looking up how to spell it).
Nostrovia,
IE7 Pro makes everybody a spelling Bee champion.
It's nice not having to worry about the spelling Nazis any more with IE7Pro-V2.4.5, now the grammar Nazis are a different matter altogether.
I have Win7 and IE8...But champions use Firefox...and when necessary lynx.
Nostrovia,
I am so tabbed-in by now, I have lost all reference.
Where does the tabbing-in end? Iceland?
I'm still on Vista Sp1 w/ IE8... so, Misean is it worth changing to Win7 (HP laptop has only 2 gig memory)?
Oh, and stocks are still good "long term."
Real estate always goes up.
Not makin' and more land ya-know...
There is a very simple way in which excess debt can be dealt with: the creditors take their losses.
reptillian says:
There is a very simple way in which excess debt can be dealt with: the creditors take their losses.
The loss taking only happens AFTER the debt has been transferred to the public coffers. So it's a matter of timing.
AIG theme
YouTube - The Gap Band - You Dropped A Bomb On Me
Just like Adam and Eve, said you’d set me free.
You took me to the sky, I’d never been so high!
You were my pills, you were my thrills,
You were my hope, baby, you were my smoke,
You dropped a bomb, hey, babe!
The confessional is open? Does that mean we can expect another flood of "hail, Marys"?
At least the new system doesn't truncate nics
So is there any sound reasoning not rule all CDS null and void as of yesterday?
easier said than done. as soon as it's done, you're still going to have lots and lots of losses, and nobody knows where those losses will show up.
perhaps they do it and then CALPERS fails... or perhaps municipalities themselves fail... or the banks fail anyway (all are likely players in the derivatives markets).
IMO a central clearing house for all derivatives is a better idea... they won't fit in a clearing house easily, but it's possible in theory depending on what the contracts are.
all CDS and other OTC derivatives should be made illegal going forward unless they're on an open exchange with very tight regulation. (like the CME... although the CME tried and failed to be the clearing house for the CDS monster)
Isn't goodwill the same thing as collateral devaluation?
There's no reason we shouldn't all have government cars, with a driver.
Dawg - left Term IV of The Curriculum on the previous thread. Would you be interested in collating that plus the Dec 29 version and re-posting on exurb? I'm perfectly comfortable with the IP being preserved and disseminated that way. As long as it's credited I don't have a problem with the feeds. Just got a little irritated with the thief who took the original, bowdlerized it, thus missing some of the jokes, and submitted somewhere else as own work. Fkn fraud.
C
Ok, reposted for convenience:
“Rob Dawg's Misean Institute 401
Term IV : Blackbelt Applications
The Curriculum Board reminds participants that content does not necessarily entail sound uptake, implementation, or success in future endeavours. Further investments do not guarantee future upside returns.
You have been warned.
C
Done:
Exurban Nation
Dawg - thanks so much, and that image is ROTFLMAO.
Best regards
C
HA!!
Ever consider a read like this to the course?
Feudalism ...alias American Capitalism
Feudalism ...alias American Capitalism (an ONLINE BOOK)
Michael - interesting. Get back to me after you've read The Creature From Jekyll Island.,
Best regards
C
"OT,a few days ago someone asked if there were any Heroes.You can find "Lest Innocent Blood be Shed" by phillip Hallie at ABE Books online.I have given away a dozen copies over the years and currently own two.A good reminder that Moral Courage and Leadership are good ways to deal with the world as it is even in the worst of times.Pavel,I think you would enjoy this short work."
Thanks for the tip, Tom.
I'm a writer and I'm old. I don't go out much. Quiet and routine are best for writing anyway. This community has been important to me lately. Lots of nice people here.
You are welcome Pavel.I enjoy both your poetry and your Moral Sense.You have clearly experienced the Grace of God,which seems to be earned with pain and humility in the sense that St Theresa used the word.
How exactly does the Times know HSBC is a strong bank?
when i read stuff like this i have my doubts:
Citi approached regulators about the conversion, fearful of being swamped by further losses as the recession and housing crisis deepen. The deal would mark the bank's surrender in its battle to persuade investors that its reasonably healthy "tier-one" ratio is a convincing measure of capital adequacy. These days markets prefer measures using tangible common equity, which is undiluted by hybrid capital such as preferred stock.
A Ghoulish Prospect - Today In Finance
Wow.
"Oh, the horror! The confessional remains busy, and AIG will be dropping by on Monday."
AIG? Be prepared to deploy a division of priests, a brigade of bishops, & a company of cardinals. I would also recommend at least a platoon of popes--but that's probably asking too much.
AIG: I am beyond redemption. What is the point of confession if I don't repent?
Cardinal Umberto: Your sins are terrible, and it is just that you suffer.
AIG: suffer? No, I'm going on another retreat to get free massages.
I'm glad HSBC is a strong bank. Now I know my GM CC bucks are safe.
A Congressional Pledge to Preserve 401(k)s, Despite Their Flaws
Congress begins hearings on how to fix 401(k)
"He[Dean Baker] suggested allowing Americans to contribute to a government-run pension system that would provide a modest guaranteed rate of return. "
"He [Bogle] suggested all fund options available in 401(k) plans be tied to a market index."
>>
401K the new PPT!
because most 401k workers moved into the money markets... they need that blood back into the garbage equities.... anything to keep the markets up at all costs! sorta like bush's plan to have ss reinvested in equities...
When they started the 401k scam to get corporations out of costly pension payments, didn't the stock market go from 1k to like 6k in time flat?
All my co-workers still own equities. They just stopped looking at their statements. Maybe congress should pass a bill that would disallow 401k managers from mailing out statements during extraordinary conditions.
I told my co-workers yesterday that we are back to 1996 stock market level, they told me to stop gloating.
Not to worry. The government will find a way to distribute our 401K’s (the ones with any money left) to the have-nots soon enough. They know best so we’re told.
.....one good thing of new system is that ......we dont have to use ctrn+c ,ctrn+v and _________________............
sorry guys. testing 123
Downsizing
brutal. just talked to a friend of mine who is a manager at a home depot here in las vegas. new hires get $8/hr, rehires $8/hr, pros looking for part time work $8/hr. she said that cashiers and cart pushers used to get hired at $9-10/hr. not any more...
i have countless stories at my job... since mid 2k8 we shrunk our company by like 30%. its really really devastating... especially for ppl who previously had good income. i know a very bright chemist from our companies r&d dept who had to go from like 90k to 9 an hr temping after he was cut. oh yeah, he and his wife foreclosed and live with his kids. oh and his wifes pension is likely toast... and she has alzheimers. and a couple years ago he was dreaming of retiring in modest fashion.
Rick Santelli’s Planted Rant ?
Rick Santelli’s Planted Rant ? | The Big Picture
I think this blog commenting on an usual source (playboy)is way off base. The fact they refer to Rick Santelli as a second rate reporter shows they have no idea what they are talking about. Rick is the only one who has a clue on CNBC. Rick is consitantly on the ball with his market view and his enthusiasm is always there. The fact that websites popped up so quickly is as much a reflection of today's technology and the disagreement that has been simmering in the public with both administrations. It is extremely doubtful that it was planned and part of a conspiracy. More likely these conservative website pounced on an opportunity to have voice/face. If you have watched Mr. Santelli this past week he tried to downplay what he ignited and get back to what he does best...the markets.
Frogs Slowly Boiled is a great analogy. But it's a myth. Frogs will just jump out once it gets too hot.
Can't say I like JS Kit. As much as Haloscan was a PITA, it worked better because of its simplicity. I can't use my usual handle - JS won't take it. Also, wait until the comments get to 3 pages and you have to refresh, then page to the last page - FUN!
That's all I have to say about that.
I got this scroll wheel and it's like a turbo gyro. It scrolls to the bottom really fast.
That's because you're banned, Jas.
C
I have read some very mean comments about Citigroup here, and I don't think they deserve it.
Who else will give you $4.50 in Goodwill for every $1 spent, Citigroup is who. When you have that empty feeling in your life, who is there to offer $2.50 of je ne sais crois for every $1 spent, Citigroup is who. Who is the one bank ready sacrifice itself to make its peers look better, Citigroup is who
Bottoms up to you Citigroup, bottoms up
Isn't goodwill the same thing as collateral devaluation?
"Je ne sais quoi", know-it-all.
EHP:
My new strategy is to hedge my big puts/shorts with junk. E.g., a Sears 2011 note at 7% is yielding 29%. The coupon might survive even if common crashes. Thoughts?
I don't like change, but I'm getting used to the new "Kit Fix". I always enjoy reading the comments.
Nurse friend sent me this via a nursing blog;) about doctors’ opinions about the financial bailout package. Enjoy.
The Allergists voted to scratch it, and the Dermatologists advised not to make any rash moves.
The Gastroenterologists had sort of a gut feeling about it, but the Neurologists thought the Administration had a lot of nerve, and the Obstetricians felt they were all laboring under a misconception.
The Ophthalmologists considered the idea shortsighted; the Pathologists yelled, ‘Over my dead body!’ while the Pediatricians said, ‘Oh, Grow up!’
The Psychiatrists thought the whole idea was madness, the Radiologists could see right through it, and the Surgeons decided to wash their hands of the whole thing.
The Internists thought it was a bitter pill to swallow, and the Plastic Surgeons said, ‘This puts a whole new face on the matter.
The Podiatrists thought it was a step forward, but the Urologists felt the scheme wouldn’t hold water.
The Anesthesiologists thought t he whole idea was a gas, and the Cardiologists didn’t have the heart to say no.
In the end, the Proctologists left the decision up to some assholes in Washington.
ROTFLMAO
Holy crap, that Playboy story about Santelli conspiring with right-wing shadow groups
implicates our own favorite Daily Bail!
ot surprised... trying to coop the upcoming angry mob mentality... control it. watched a bit of the end of that republican convention with rush limbaugh leading the way... very disgusting. and on the left you have the 'socialistic' feed the poor tax the rich side (not really real imo). i wonder where maria b, cramer and kudlow fit into the mix.
whats your stock pick for 2009?
very matrixesque.
Haven't seen that weasel in the last few days. No wonder he didn't get along here. I think of this group like Angry Bear. Slightly left of center smart people.
Flo - brave post. The politics here veer across all the points of the left - right libertarian horseshoe and in between. Oh, and the loons who can't be categorized.
(Opens up flank, thinks WTF did I just do...)
C
Misean - nope, remind me. I've got a lot going on, dude.
C
I am so going to performance manage my avatar... Slack fk.
C
Actually, The Ron Paul movement revived the Boston Tea Party theme for protesting. Playboy should give credit where credit is due.
imo.... Ron Paul = gatekeeper = tool
blah, blah, blah.....
Interesting that Santelli is ranting about bailing out mortgagees, but has been silent -- for months -- on the bank bailouts, which are much more expensive.
Santelli needs more protection if he is going to take on the banksters directly. I know where he stands on that issue however.
obviously you have never watched CNBC. Mr. Santelli has been against the bank bailout from the beginning. If you don't believe then go check out the old tapes.
Fascinating...I'll pass getting recorded on that link...Oh well.
Say, that's a neat name. Kinda like Oedipus Complex, something I'm sure your cookie clearing owner knows oh so well, natch.
Leather pants?
Nostrovia,
If every country in the world pegged their currency to the US dollar, what would that do to the US currency?
Lobbyists Up In Arms!
swiss cheese
Just in...
The winner of the "Will it go 'round in circles" award goes to Citi. Their sponsorship in NASCAR just paid (the only) dividends they will probably see this year, with a Nationwide series race win in Las Vegas. Wonder how much it cost.
Hello all,
I posted another chapter in the CR inspired story of life after the "Crash."
401 Authorization Required
oh, a sample...
Six months had gone by since the “Big Bang.” The big world was settling down. There is nothing like a nuclear exchange to make people cooperate. The fallout, traveling in the jet stream, was touring the world. That did more to convince governments about the need to lock down their weapons, and crazies, than the actual detonations. What country wanted their water supplies poisoned just because they were unlucky enough to be downwind? Especially when water, in many countries, was selling for the same price per liter as gas.
So how many of you O-pologists still have a woody for the chosen one? Seems to me we're getting the worst of both worlds. Bailouts for the big institutions and bailouts for the loafing masses that tried to game the system.
Rewarding medicrity - The Obama way!
Just think how we'll cut aggregate health care spending and add 25% to the number putting strains on the system. That'll work, right ?
Hi, bear.
im actually for bailing out the masses..,because the masses is the economy. i think obama likes to hear himself talk. hes like a car salesman. is he really guiding this administration? i dont know... but so far looks like the banking interests have there claws on him.
>Just think how we'll cut aggregate health care spending
I went the the ER last month for some chest discomfort. The actual service bill came to $600 of which I'm paying $320, which I consider fair given the hour of skilled labor, the x-ray and EKG machine use.
However, the ER also tacked on a $6000 surcharge of which my carrier paid $3000.
Our system makes no sense.
Oh please explain.
What happened to all of yours from last night?
Nostrovia,
Why'd Agent 001 delete himself? He's twitchy that one. Weird comments too.
Nostrovia,
001, Are you one of those so called Born-n-Bred
American Dopes?
I see J-People comment got 001 to delete his replys.
This is one cranky, buggy piece of software. They got some funding a while back, maybe they can buy some debugging time.
so anyone think CR will enable the embedded youtube in the comments?
Yeah, me too. It barfs the code up on the screen too, like baby upchuck. Lame. You have to leave the upchuck, go back to the comment screen, and refresh, then it adds the avatar. Mostly.
I have reduced my dollar cost averaging purchase of of stock mutual funds to really low levels with my own personal funds, since the government is now my investment adviser, broker and is making purchases for me. However they keep focusing on purchasing insolvent companies. Vultures we are! Ha! Ha! Ha!
Michael the only J person I can think of who is a regular here would be Cassandra,who checks in from Tokyo from time to time.Don't think anyone from Java is a regular?
Well at least 1 person gets it.
This commenting system is "somewhat less than obvious" (lol). A help or FAQ is really needed.
http://js-kit.com/support/js-kit-admin-guide.pdf
.
Google is your friend.
Lobbyists Up In Arms!
Not hard to tell whether the WSJ favors Obama or the Lobbyists.
that's pounds sterling - WAY larger in usd
wow
Avatar, do some fkn work, willya?
C
So avatar, we've had a little chat. Great. You gonna show up most days? OK, good. Thanks.
C
Re: The confessional remains busy
Bless me Obama, for I have spent too much, and it's been 12 weeks since my last confession
WTF is Jas, I need him in the confessional, wait no, that sounds weird, delete, delete
Just a test