Nemo +1.

Cache is king, now.

from last post ...

"So the latest of the "when in doubt, do more" syndrome is that the Fed is trying to get in front of an imminent commercial real estate bust by letting banks use the TALF for commercial real estate loans, thereby keeping credit cheap. The reason? That market is ready to go into free fall. Leon Black of Apollo Management, predicts a commercial real estate "back hole" that could deliver as much as $2 trillion in losses. to banks.

Ouch."

Yves Smith

Is that $2 trillion included in the stress tests. I think not.

Hey, shouldn't that be "of whom do they remind you"?

I never liked America West. Dirty planes, surly flight attendants...

Thank you, CR.

Thank you thank you thank you

I'm thinking "whom" and "shall" are on the English death watch list. Not that that's a good thing, but who talks like that anymore? Apart from my husband.

I like it!

"Is that $2 trillion included in the stress tests. I think not."

~~~

I would guess you're right ... but it would only be a guess ...

The public can't be trusted to see how their tax dollars are spent ...

WOW he was pretty talented esp for a 20 year old. Everett Ruess ™ | Mountain Block*Print Images

Nemo

Relative of yours?

I really think NASA and the Reagan Star wars defense system would be quite valuable now days.

Yea but if he got to spend ten bill on treasuries it would cause their price to rise.... Then we'd have to hear more about how great they are... I'd say give it to Broward...

Ok, give it to Broward.

Will you take it Broward???

Charlotte's Web.

"...giving it to Broward would be better for society..." No way. No how. Leather pants. Cheese. I say no more.

Ok, give it to Scone.

mmckinl... 4 cambells soup cans and 4 strings tied together at the center? or mr. douglas on top of the pole?????

re: who and whom

Usage rules. If anyone insists on being "correct," a rule-of-thumb might be: "of whom," "by whom," "for whom," "to whom," "from whom." I have used "whom" in what would be the non-nominative cases of the Latin language. English, of course, is not Latin. "Who" is nominative, i.e., the subject. Now, back to bank failures ... .

If I had stolen it, I would've spent it.

But I wouldn't have stolen it.

Weird.

Wait, Utah? But Utah has a lot of Mormons. Mormons are religious. They would not commit fraud or default on loans... would they?

Must've been the Jack Mormons and other assorted heretics..

Put here in the penthouses with the Wall St criminals

Dead Shtick,

In all honesty, 200 million is like what 400-1000 home loans

I always like to look at the web sites of thes defunct banks before the FDIC takes them down completely. I found this rather interesting about the latest casualty:

In May of 2000, the bank was granted its FDIC insurance and state charter, both of which are required to operate as a full service bank. The bank held its official grand opening on June 16, 2000. Instead of cutting a ribbon, five bank officers stepped forward, and in a symbolic gesture, had their ties cut off to demonstrate that they were “cutting ties to traditional banking” – which quickly became the bank’s motto.

America West Bank has made the commitment to “amaze and delight” its customers and maintain a personal touch, while always remembering that after all, it’s your money. America West Bank achieved exceptional success throughout its first five years in operation when, in May of 2005, the bank received official authorization to convert to a “member owned bank"™, the first of its kind in America

I guess that their ties to the traditional banking system were permanantly severed today.

government math.... and monetary impressions explained:

http://townhall.com/columnists/JonSanders/2009/04/30/obamas_revenue_relativism_-how$100_million_is_large_when_$8_billion_is_small

Almost 6:00PM on the left coast. Will we have a Four Course Friday?

Uncle Ar,

Closing costs?

All this and bag cheese and leather. Eeeewwwww.

"This week in Contra Costa Superior Court in Martinez, prosecutors presented grisly evidence in a preliminary hearing for brothers Glenn and Justin Helzer and friend Dawn Godman, who are accused of killing five people -- including the daughter of blues musician Elvin Bishop -- in Concord and Marin County in August of 2000.

Testimony has included reports that Glenn Helzer, 31, reared as a Mormon, had joined a self-awareness program called Harmony and also dabbled in the occult with his younger brother and friend."

Someone please tell Geithner that if he must continue this stress test chirade.....please.....stop picking obvious round numbers like 10 billion out of the air for Citi's capital requirements.

It's insulting.

Fiduciary Doodie, maybe that's it.
Or Yield Spread Premium for Cache Valley Bank.

Polygamoney

AMF is adding to the English language tonight.

“amaze and delight” its customers

Yes, Comrade, people do tend to be amazed and delighted when you grant them reckless loans.

Residents of Ketchum, ID (site of last week's closing) are up in arms about the "Feds" coming in to close their hometown bank: When the Community Bank Closes

"What a shame that big government (FDIC) can come into town and in the span of 12 hours destroyed a community bank that took 12 years to build. Lives and local businesses will be severly disrupted.."

Glenn Helzer, 31, reared as a Mormon, had joined a self-awareness program called Harmony and also dabbled in the occult with his younger brother and friend." - mm

So, instead of sex and drugs and rock and roll, like normal people, it's poly-sex and psychology and the occult. Seriously. Ick.

EHP. if you're out there: your top 50 fear list contains a lot of companies that no longer exist?

Interesting...

Daily Great Lakes and Seaway Shipping News - BoatNerd.Com

5/1 - This shipping season is shaping up as an unusually tough one for freighters on the Great Lakes.

Four 1,000-footers out of the 13 that serve the lakes are sidelined at a time of year when these workhorses typically are running hard.
snip

Fully half of the Duluth-based Great Lakes Fleet is now out of service. In addition to the Speer, the 767-foot Philip R. Clarke and Arthur M. Anderson, plus the 858-foot Roger Blough are all currently inactive, waiting for demand to improve.

“There’s no denying the number of ships tied up is reflective of poor demand this year,” said Glen Nekvasil, vice president of corporate communications for the Lake Carriers Association. He pointed out that just eight of the American steel industry’s 36 blast furnaces in the Great Lakes region are now operating.

And it’s not just shipments of iron ore pellets that are down this year. As taconite mines slow down pellet production, their appetite for lime has declined.

Stone and cement shipments have been soft, too, as a result of diminished construction activity, according to Nekvasil.

“It seems like everything is off,” said Interlake’s Barker.

Duluth News Tribune

Plural banks will Cache
Layton's left over crash cash
Polygamoney

Wait, Utah? But Utah has a lot of Mormons. Mormons are religious. They would not commit fraud or default on loans... would they?

Quite a few fraud rings have involved churches, with prominent laypeople (and in one case I can think of even a rabbi) taking advantage of the trust, not to say naiveté, of some of the members to get them involved as strawbuyers. I suspect something like that is at play in Utah--it certainly was a hotbed of fraud during the boom.

And yes, wtf with Corus. They've admitted they're done.

Trying to find a buyer, wouldn't you think? This bridge-bank stuff is a last resort.

For EHP,

I thought there was more...

Port of Kaohsiung wants to twin with mainland ports
TAIWAN'S port of Kaohsiung has become sister port of mainland's port of Dalian. The two ports are set to start cooperation on cross-strait shipping services.

Director General of Kaohsiung Harbour Bureau Hsieh Ming-hui recently visited and signed letter of intent for cooperation with four mainland ports of Shanghai, Qingdao, Tianjin and Dalian, reported Xinhua News Agency.

Dalian Port Group chairman Xing Liangzhong recently led a delegation to port of Kaohsiung to sign the port twinning agreement.

Deputy director of Kaohsiung Harbour Bureau Huang Kuo-ying sees bright prospects in the cooperation with port of Dalian and said they also plan to twin with Shanghai, Qingdao and Tianjin.

AP must be off for the weekend. Last BFF mention is here.

I believe that this week is the first time that they have covered bank failures, though, so things must be looking up.

DCRogers

I have a lot of nerd things in my life... It helps make me the special kind of guy I am.

I have a lot of nerd things in my life... It helps make me the special kind of guy I am. - nova

You're not a real nerd without RayBan ClubMasters. That's the sign of a real man, who's not afraid to put his nerd thang out there.

I'm talking about an FDIC purchase and assumption agreement, not "sale, merger, other fix."

Yeah, I know that's probably a joke too but the FDIC will look before they throw in the towel.

DCRogers,
True, but I wasn't looking to spend more than 2 min on it. It's also confirmation that it has been accurate. I posted the methodology and linked the data source if you want to go any further with it

DRINK

Do Ray Charles dark glasses count ? -- mmckini

Even better. Coolness.

I googled those ClubMasters, expecting to see what Obama wears. What I saw was Malcolms !!!!

I am a stylin nerd - nova

"I make this suit look good" - Will Smith

eye, A LAD INSANE
Abritrage Power not
Flation Leverage

notso haiku

EHP,

I think they already have. They just haven't sent CINCPAC the email yet.

Fleet is headed towards Guam anyways. The big carrier that never moves.

I was in Macao a number of times in the early 1980's, and what a sleepy shitwhole it was back then, with a few fleabag casinos amidst dilapidated and quite dated Portuguese buildings...

I went to Intrade to get Kentucky Derby advice and saw that one can bet on the number of confirmed swine flu cases in the US. How funny.

Scone,

That is not saying a lot. Oregon always seemed like No. CA for the "less fortunate."

OMG! they're playing "Dirty Deeds-- Done Dirt Cheap" on KGON!!! So bankster chic!

That is not saying a lot. Oregon always seemed like No. CA for the "less fortunate." - nova

Seriously. Grunge is not the word. But the beer is great and the girls are broad-minded. Getting them to shave their parts is another story.

Repost from dead thread, where someone asked about ridership on DC metro:

I rode the Metro to and from work every day this week (Friendship Heights to Smithsonian via Metro Center). Mon-Wed was normal to slightly below normal loads. Thursday was noticeably lower load. Today was downright dead. 1/3 or less of normal load.

Friday is usually a lighter load vs other days of week (lots of Feds are on alternate work schedule with every other Friday off), and the spring break surge is past, but I don't see any explanation for today's tiny loads except for the flu scare. Unless Feds were taking off for May Day (not a reasonable explanation I don't think)

of surgical masks spotted all week: Zero

Investors are Flocking To A Capitalist's Woodstock

Mungermongering @ a Capitalist's Woodstock?

I have heard that Oregon was named from the Californian's lament. "Ore gone." - rep

I would actually buy that. Oregon used to sell the miners food at a HUGE markup. So much for gold.

Who know? But that foundation was established for charity.. never mind!

//What is the value of the "Bill and Melinda Gates Foundation?"//

Jimi and Janis
Send many regrets that they
Can't attend again

scone,

That is funny.. I would just spend a couple of hundred bucks and get the a** I want.. why spend time trying to get women to pretend to like you.. too much bullshit! I have always believed that the true cost of a woman should never be over 300$/hour with multiple shots on the goal.

"Because Bill is slime. I knew him back in the days when he was competing with the S-100 bus and CP/M. He could not get a date without paying for it. He used to try to get distributor and dealer arrangements with "benefits" from the marketing girls. I swear this is true."

@scone

Are you expecting us to believe that Windows came to dominate the world of personal computing because a buyer at Egghead Software got laid?

I do!

Scone , shit talking Bill is bad for business. - BF

True, but it should be part of the historical record. Of sexual harassment. Women care about this shit, anyway.

Eco-frenzied mobs
Scream: "No Frankenfoods!" Meanwhile,
Unseen bugs swap genes ...

by Samdog,
the Haiku Black Lab

Ben, Tim, and Sheila.
Whom do they remind you of?
Moe, Curly, Larry.
by Soylent Green is People

Where do Cox an Paulson fit in? Which is Shemp?

@scone

Are you expecting us to believe that Windows came to dominate the world of personal computing because a buyer at Egghead Software got laid?
.
No, the other way around. Sort of like this, at Comdex: 'be 'nice' to me, and I'll give you an exclusive distributor/dealer arrangement. But if you're not 'nice' to me, I'll give it to your competitor. This was after CP/M started to die. Odd, that death, Gary was a very healthy guy. Not into drugs so much. Seemed pretty upbeat when I talked to him last.

Blackhalo (homepage, profile) wrote on Fri, 5/1/2009 - 10:07 pm reply Ignore user Ben, Tim, and Sheila.
Whom do they remind you of?
Moe, Curly, Larry.
by Soylent Green is People
Where do Cox an Paulson fit in? Which is Shemp?

Hank Paulson = Curly (fo' sure!)

Hey Nova, that boat nerd site is interesting. I noticed this posting farther down the page:

The U.S. Army Corps of Engineers said Tuesday it will not spend federal stimulus money to build a half billion-dollar lock on the eastern edge of Lake Superior in Michigan's Upper Peninsula.

"Everybody is in shock here," Glen Nekvasil, spokesman for the Lake Carriers' Association, said after Tuesday's announcement. "It was a jobs creator. It would have used American workers. It would have used American goods, and it would have guaranteed the redundancy we need. "This should have been a go."

LOL, Michigan is really getting hit hard. They can't even get the government to hire workers in the state.

Today was my May Day! Done with work! Life will be OK! My buddy actually got laid off too... Great timing. I'm on the lamb ! ! !

nades,

My black Labrador is named "Sam."
The kids and I took to calling him "Samdog" for some reason; hence my handle.

And now ...
Speaking of Hank:

"Gimme More!" I cry
The Tempest growing fiercer;
Sir! You're out of tarp!

yeah,

I said

"Will they? Wont?"

They are the Austrian School....its an unknown unknown.

bANK fAILURE:

Brad Delong!

Is that you?

The next thing to flip? Dollars!

The first time I saw Windows was when it was bundled with Micrografx Designer.

It was a piece of crap then. Some think it still is.

scone- thanks.

mp,windows may suck but it is better than vista...

Net Notional
(USD EQ) Reference Entity

19,979,252,720 REPUBLIC OF ITALY
10,954,450,213 KINGDOM OF SPAIN
10,953,232,650 GENERAL ELECTRIC CAPITAL CORPORATION
10,143,726,370 FEDERAL REPUBLIC OF GERMANY
9,409,673,923 FEDERATIVE REPUBLIC OF BRAZIL
7,676,586,672 HELLENIC REPUBLIC
7,295,389,846 DEUTSCHE BANK AKTIENGESELLSCHAFT
7,143,016,506 FRENCH REPUBLIC
6,714,445,269 BANK OF AMERICA CORPORATION
6,637,060,404 RUSSIAN FEDERATION
6,263,656,790 MORGAN STANLEY
5,935,186,025 REPUBLIC OF AUSTRIA
5,732,667,697 PORTUGUESE REPUBLIC
5,516,260,986 UNITED MEXICAN STATES
5,513,390,816 REPUBLIC OF TURKEY
5,203,500,972 THE GOLDMAN SACHS GROUP, INC.
5,123,834,838 MERRILL LYNCH & CO., INC.
4,607,106,071 BERKSHIRE HATHAWAY INC.
4,378,082,445 BARCLAYS BANK PLC
4,362,808,998 KINGDOM OF BELGIUM
4,272,968,904 IRELAND
4,271,017,304 THE ROYAL BANK OF SCOTLAND PUBLIC LIMITED COMPANY
4,270,581,295 CITIGROUP INC.
4,239,359,890 UBS AG
4,229,516,889 DEUTSCHE TELEKOM AG
4,064,849,426 REPUBLIC OF HUNGARY
4,002,456,939 JPMORGAN CHASE & CO.
3,818,986,551 TELEFONICA, S.A.
3,725,855,264 MBIA INSURANCE CORPORATION
3,715,456,323 SLM CORPORATION
3,624,368,049 REPUBLIC OF KOREA
3,600,010,669 FRANCE TELECOM
3,586,471,373 ENEL S.P.A.
3,572,992,746 AMERICAN INTERNATIONAL GROUP, INC.
3,521,997,067 DAIMLER AG
3,491,890,705 THE PMI GROUP, INC.
3,476,693,082 UNITED KINGDOM OF GREAT BRITAIN AND NORTHERN IRELAND
3,381,129,435 ARCELORMITTAL
3,363,598,818 TELECOM ITALIA SPA
3,351,494,939 CIT GROUP INC.
3,338,370,301 WELLS FARGO & COMPANY
3,325,771,439 JSC 'GAZPROM'
3,321,504,823 VOLKSWAGEN AKTIENGESELLSCHAFT
3,287,548,453 ALLIANZ SE
3,239,864,748 INTERNATIONAL LEASE FINANCE CORPORATION
3,224,036,656 CREDIT SUISSE GROUP
3,099,893,565 BRITISH TELECOMMUNICATIONS PUBLIC LIMITED COMPANY
3,067,542,989 CBS CORPORATION
3,059,213,362 VODAFONE GROUP PUBLIC LIMITED COMPANY
3,043,228,579 WHIRLPOOL CORPORATION
3,041,712,774 CONTINENTAL AKTIENGESELLSCHAFT

All of this Windows talk has gotten me to thinking about it again. We spend a lot of money on this goddamned software-hardware "arms race." We used Windows 2000 Pro until a couple of few years ago, then moved to XP Pro and upgraded everything.

Every time I talk to my computer guy I say, "Linus, dammit, Linux," and he goes all catatonic on me.

"It's the network," he says. "We've got to use Microsoft."

Frankly, I'm thinking about canning him AND Microsoft.

mp,Neal Horsely even taught an old mule new tricks.

If your network requires Windows, you should definitely can your network guy. You give up so much flexibility for marginal or less gain. Neither Exchange nor Active Directory absolutely require a Windows-only network.

Do a search "Linux for windows users" or "Linux for windows administrators" and you will find plenty of help...

Let's not forget, Obama, the community-organizer-in chief, is in WAY over his head.

bearly,

I'm guessing the Fed is out on a limb. I'm not sure what kind/degree of T-purchases they made in the past, but they probably bought/sold as needed to fiddle with money supply.

When you say China et al backing away from Treasuries: say WTF? Where did you see that? (Not that I'm suprised in the least.)
You GWB quote is most accurate.

1.2.3 BOTTOM ! (not)
naughty-naughty
There is something to celebrate, we aren't in free fall anymore. However it is way to early to believe we are out of the woods.

norka,

is any of the govt money, money in the banks as well?

AFP: China has 'canceled US credit card': lawmaker

China has 'canceled US credit card': lawmaker