" The new U.S. commander in Afghanistan is finalizing a far-reaching change in tactics that will generally require U.S. troops taking fire in populated areas to break contact rather than risk civilian casualties, military officials said.
Exceptions will be made when the lives of U.S. and allied personnel are in danger.
The rules being crafted by Gen. Stanley McChrystal are the clearest indication yet of how the new U.S. command team in Afghanistan plans to reduce civilian fatalities, a cause of public anger against U.S. efforts there."
Private: Sir, someone's shooting at us...
Lieutenant: Run away...very fast!
Just bring the troops home; this is a complete waste.
From last thread:
Man that big pink pig should be slow cooked for my birthday.
Since I'm a Gnome; I'm supposed to give a gift to each of my friends for my birthday (which is a good idea; think about it)
Any ideas?
@ Panda
Some contractors are still banking big bucks baby.
We've been Neo-Conned! (although, technically; I think they are fascists)
good article in Sacramento Bee on a small TARPed bank that has a habit of giving large loans to its board members and their family members who also happen to be developers. Actually, the article says a lot about just how crappy the smaller TARPed banks are- and makes me wonder just what you need to do to get your TARP application rejected.
"According to Bankrate.com, a leading independent evaluator, the bank's overall condition, including the quality of its assets – primarily loans – trailed nearly 95 percent of all banks of its size nationally just weeks before it received TARP funds. Among 183 California banks in its class, Community Business Bank ranked weakest among TARP banks and seventh-weakest overall."
Jeebus, the danger money I should be getting for running the Red Line gauntlet to the swamp and back... File under "America's Crumbling Infrastructure":
If only I could have had the foresight to lose an incredible amount of money (the more the merrier) in banking, i'd have come out smelling like a rose.
The banks must have thought they were operating a dividend re-investment plan with the TARP money. Bernanke and Geithner will tell us all about the new DRIP plan that will save the economy and speed up the recovery.
Looks like "it depends". According to the term sheet,
The Senior Preferred will pay cumulative dividends at a rate of 5% per annum until the fifth anniversary of the date of this investment and thereafter at a rate of 9% per annum. For Senior Preferred issued by banks which are not subsidiaries of holding companies, the Senior Preferred will pay non-cumulative dividends at a rate of 5% per annum until the fifth anniversary of the date of this investment and thereafter at a rate of 9% per annum.
So, are we so far gone as a society that we can't rebuild after this collapse?
I do the things I can do to make things better for others.
Mostly just giving GnomeGrown food to the local shelters and that makes me feel better than any other gift I've given.
EVER.
Alright, we'll now return you to your regularly programmed schedule...
nemo: thanks for the info; after a bit of research, it seems that all three are BHCs. So it looks like they've got to repay the missed divvies before paying any junior divvies. the disparate treatment for the non-BHCs is interesting, but it makes sense as the BHC could simply funnel money to its affiliates.
KRE's rally off the lows is much less impressive than XLF's.
the naughty nineteen have the political connections to survive. some, like GS can even turn taxpayer dollars into giant bonuses in a matter of months, or, like Jamie's crew, can turn a crisis into whole new regional terriroty. but as for the lil' guppies who never cracked 5 bil market cap in the best of times...
Hello, my name is bANK fAILURE.
"I have an adiction to shorting banks,and I'm trying to quit, but the juice is just so strong....I find myself waking up thinking about the ALT-A Wells Fargo level three book of legacy pensions thats still all HELOCed up....and that is hard habit to break my friends.. I also admit to shorting FAZ, but Im going cold turkey on that one."
It is only monday, yet another exiting week is in the works. wonder, if Asian markets are green shooting already (sorry, I am addicted to green shootz & yes we can phrases .) Anyone caught a wonderful article on Red Dragon vs Paper Tiger at zerohedge over the weekend?
"Note: missing up to six dividend payments was allowed under the TARP agreement, so this isn't a default.".......So Tarp is pick-a-pay.....Bwahahahahah!
(Except the joke is on us.)
I like GE as well at - 4 .. Don't get me wrong, It's a good company after GE Capital subtraction. And yeah, it will survive but what will be the cost of its survival?
Sanford spokesman Joel Sawyer said Monday he last spoke with the governor last Thursday and was not aware of any other staff member speaking with him since. He says nobody in the office spoke with Sanford on Monday.
Sawyer declined to discuss where the governor was specifically. He released one statement early in the afternoon:
"Gov. Sanford is taking some time away from the office this week to recharge after the stimulus battle and the legislative session, and to work on a couple of projects that have fallen by the wayside. We are not going to discuss the specifics of his travel arrangements or his security arrangements "
//Gov. Sanford is taking some time away from the office this week to recharge after the stimulus battle and the legislative session, and to work on a couple of projects that have fallen by the wayside.//
Can the defaulting banks use jingle-mail to send the keys to their banks to the Treasury?
I'm coming around to the idea that having one sizable bank in each state owned by Treasury to offer a "Public Option" that is staffed by civil servants who don't get multi-million salaries and bonuses. Let's cut off the middlemen between the public money faucet and the public.
Their collective motto: Banking, As it Used to Be.
If I suspend my mortgage payments for a couple of months...it's not default either....right? If I hold my breath for a count of 10 between each one...that's prolonging my life too....right?
JimPortlandOR (profile) wrote on Mon, 6/22/2009 - 8:36 pm
Their collective motto: Banking, As it Used to Be.
I'd opt for: Banking, As It Should Always Have Been.
Though there are far more ways for insiders to exploit any banking system than there are capabilities for defense against the exploitations. Centralized control/authority is even more susceptible to corruption than an oligopoly, much less a (more) free market. Computer intelligences will have to run our NWO.
You know Tron Guy, that chubby embarrassment in a Lycra suit? Apparently, he was making enough scratch to own a plane that matched his outfit. Sadly, the economy has made his lifestyle a little less sustainable, so he's selling it.
Seriously, this guy owns a private plane. To be fair, he made most of his money via his day job as a computer programmer, not via his night job as a poster child for a complete lack of self-awareness.
But hey, his loss is your gain! If you want a single prop airplane with a custom Tron paintjob and a thick odor of sweat and cheese curls, it's currently at $22,600 on eBay.
"Sanford, a potential 2012 presidential aspirant, has previously raised eyebrows in South Carolina for bringing squealing and defecating pigs into the statehouse to make his case against pork-barrel spending and for sporting a ratty blazer to his own Inauguration."
HomeGnome (profile) wrote on Mon, 6/22/2009 - 8:51 pm
We need a CorruptionCzar!
True. The computers can't effectively supervise and manage the corruption. Another problem, of course, is that computational solutions to economic problems may not include, or be in the best interest of, the humans. Whereas human solutions will generally benefit other humans - or at least, small cabals of them. But if we are truly so inefficient maybe the free market trumps us? Evolution, Neo.
"Gov. Sanford is taking some time away from the office this week to recharge after the stimulus battle and the legislative session, and to work on a couple of projects that have fallen by the wayside. We are not going to discuss the specifics of his travel arrangements or his security arrangements "
Put it all together; my wife did.
Governor Sanford
FOUR Children
Father's Day
Wife "not worried," on vacation with the kids
Me thinks Gov. Sanford may have completed his classroom training in toilet toe tapping, and now is in the on-the-job training phase, touring the state's public facilities.
The South Carolina Employment Security commission says the number rose 0.7 percent in May from where it was in April.
More than 266,000 people are jobless.
The loss in jobs came mainly in the manufacturing sector, where the commission says 2,200 positions were lost.
However, the commission says nonfarm employment in the state actually rose for the third month in a row, with an overall increase of 11, 800 job. The majority of those gains--7,100--came from the lesiure and hospitality sector, believed to be because of the need for more tourism labor for the upcoming season.
Dr. Strangelove: Well, that would not be necessary, Mr. President. It could easily be accomplished with a computer. And a computer could be set and programmed to accept factors from youth, health, sexual fertility, intelligence, and a cross-section of necessary skills. Of course, it would be absolutely vital that our top government and military men be included to foster and impart the required principles of leadership and tradition. Naturally, they would breed prodigiously, eh? There would be much time, and little to do. Ha, ha. But ah, with the proper breeding techniques and a ratio of say, ten females to each male, I would guess that they could then work their way back to the present Gross National Product within say, twenty years.
//The computers can't effectively supervise and manage the corruption. Another problem, of course, is that computational solutions to economic problems may not include, or be in the best interest of, the humans. //
many SC economists are predicting 15% unemployment for 2010. Lots of "accidental" unemployed (i.e. Boomers that moved down to SC, thinking their retirements were set).
Agent Smith: Did you know that the first Matrix was designed to be a perfect human world? Where none suffered, where everyone would be happy. It was a disaster. No one would accept the program. Entire crops were lost. Some believed we lacked the programming language to describe your perfect world. But I believe that, as a species, human beings define their reality through suffering and misery. The perfect world was a dream that your primitive cerebrum kept trying to wake up from. Which is why the Matrix was redesigned to this: the peak of your civilization. I say your civilization because as soon as we started thinking for you it really became our civilization which is of course what this is all about. Evolution, Morpheus, evolution, like the dinosaur. Look out that window. You had your time. The future is our world, Morpheus. The future is our time.
//The computers can't effectively supervise and manage the corruption. Another problem, of course, is that computational solutions to economic problems may not include, or be in the best interest of, the humans. //
I saw that article and posted the juicy bits on Sunday. I'm finding that I find that if I sip enough of this lovely viognier I don't want to torch the place quite as much as previously >; )
Dividends is a small part of the story. Warrants is a much bigger one. The banks figure that now that their stocks have skyrocketed from the lows of last fall, these warrants got too costly. Goldman may be paying out the record bonus pool amount ever, but hey, that's not expenses - that's investment in talent, right?
Scott Talbott, senior vice president of government affairs at the Financial Services Roundtable, an industry lobbying group, said the negotiations with Treasury had taken longer than expected.
That's partly because the value of the underlying bank stock has fluctuated during the financial crisis. Treasury has wanted more money for the warrants it holds than the banks have been willing to pay.
...
Until the banks buy back the stock warrants that Treasury holds, they remain entangled in a program that has subjected them to limits on executive pay and other restrictions. The banks have complained that the government-imposed rules could hurt their profits and prevent them from hiring or keeping top talent.
Here is more - enjoy the banksters' gratitude
May 22 (Bloomberg) -- Banks negotiating to reclaim stock warrants they granted in return for Troubled Asset Relief Program money may shortchange taxpayers by almost $10 billion if Treasury Secretary Timothy Geithner’s first sale sets the pace, data compiled by Bloomberg show.
While 17 financial institutions have repaid TARP funds, two have come to terms with the U.S. on the value of the rights to buy stock that taxpayers received for the risk of recapitalizing the industry. The first was Old National Bancorp in Evansville, Indiana, which gave the Treasury Department $1.2 million last week for warrants that may have been worth $5.81 million, according to the data.
If Geithner makes the same deal for all companies in the rescue program, lenders may walk away with 80 percent of the profits taxpayers might have claimed.
...
The U.S. received rights to buy 1.4 billion common shares in exchange for $287 billion in TARP capital, according to data compiled by Bloomberg.
A company that accepted aid had to grant warrants equal to 15 percent of the TARP investment at a strike price equal to the 20-day trailing average of the shares. A strike price is that at which an option can be exercised.
Now that Goldman Sachs, JPMorgan and Morgan Stanley have applied to return the $45 billion they received, they may also reclaim their warrants.
Those may be worth about $4 billion, data compiled by Bloomberg show. If the U.S. followed the Old National formula for the three New York-based banks, taxpayers would receive less than $1 billion.
...
At the University of Louisiana, Wilson used Black-Scholes and two other systems to evaluate Old National’s warrants, plugging in three volatility assumptions: 37.1 percent, 59.72 percent and 72.89 percent.
The lowest, calculated from the bank’s stock price movements over the past seven years, yielded the smallest warrant value, ranging from $2.50 to $6.72 per warrant. The highest, based on changes since Jan. 1, 2008, returned a range from $8.88 to $11.05. The middle estimate -- the options-implied volatility -- said a right was worth from $5.93 to $9.69.
Lucifer. Good. Still my favorite Smith; works on so many levels...
Agent Smith: I'd like to share a revelation that I've had during my time here. It came to me when I tried to classify your species. I realized that you're not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment, but you humans do not. You move to an area, and you multiply, and multiply, until every natural resource is consumed. The only way you can survive is to spread to another area. There is another organism on this planet that follows the same pattern. A virus. Human beings are a disease, a cancer of this planet, you are a plague, and we are the cure.
Def Jane,try a bottle of cate's corner if you like a viognier,jamie gave me a bottle and it was superb.We make good booze and good herb here,can't speak for the meth,no reason to try something weaker than my coffee.
One of my biggest pet peeves, and I have a lot of pet peeves, is people that use the meaningless term 'a number of'. Zero is a number you pinhead. I need know nothing else about Meg Reilly to conclude she is a half witted stooge. I find the 'missing tarp payments' and Meg Reilly to be analogous to paying your mortgage on the 15th rather than the first, I don't care how many times one of the programmable Wells Fargo teleboobs calls me on the 8th to tell me my mortgage is late, I'm not putting it in the mail till the 10th. If you wanted the TARP payments every month you shouldn't have given them a 6 month month grace period.
nemo's monkey is on hatzius
Time to seize "a number of banks".
My, my, my.
Stuard Fla eh? who could have known?
Dividends on TARP funds are like interest. Banks stop paying interest. Should I be worried?
nades, that was quick.
Trio of TARPons spotted on the coasts and in flyover. they have seized the bait.
what's a couple missed payments among friends....
Hey, Liz, isn't Stuart where a lot of those East Coast folks go when they retire?
Do you have to repay TARP? I thought it was charity.
TARPooning a Moby Dick and then asking for your TARPoon back, like that was ever gonna happen?
Here's genius at work(WSJ):
" The new U.S. commander in Afghanistan is finalizing a far-reaching change in tactics that will generally require U.S. troops taking fire in populated areas to break contact rather than risk civilian casualties, military officials said.
Exceptions will be made when the lives of U.S. and allied personnel are in danger.
The rules being crafted by Gen. Stanley McChrystal are the clearest indication yet of how the new U.S. command team in Afghanistan plans to reduce civilian fatalities, a cause of public anger against U.S. efforts there."
Private: Sir, someone's shooting at us...
Lieutenant: Run away...very fast!
Just bring the troops home; this is a complete waste.
on blood from a stone...
I think it is Sport. I pass it on my weekly trek.
This stupid computer has, I think, some sort of time out process, so
if I disappear, that's why.
From last thread:
Man that big pink pig should be slow cooked for my birthday.
Since I'm a Gnome; I'm supposed to give a gift to each of my friends for my birthday (which is a good idea; think about it)
Any ideas?
@ Panda
Some contractors are still banking big bucks baby.
We've been Neo-Conned! (although, technically; I think they are fascists)
When the enemy looks just like the populace looks just like the enemy, you have already lost the war.
I can't get on the prior thread at all.
@JD,
How 4th generation of you.
Fourth generation warfare - Wikipedia, the free encyclopedia
so if I disappear, that's why
Yeah, that's exactly what I'd expect the gov't agents or aliens to force you to type, just before you disappear.
good article in Sacramento Bee on a small TARPed bank that has a habit of giving large loans to its board members and their family members who also happen to be developers. Actually, the article says a lot about just how crappy the smaller TARPed banks are- and makes me wonder just what you need to do to get your TARP application rejected.
"According to Bankrate.com, a leading independent evaluator, the bank's overall condition, including the quality of its assets – primarily loans – trailed nearly 95 percent of all banks of its size nationally just weeks before it received TARP funds. Among 183 California banks in its class, Community Business Bank ranked weakest among TARP banks and seventh-weakest overall."
Bailed-out bank's deals raise concerns - Sacramento News - Local and Breaking Sacramento News | Sacramento Bee
Paging Shiela Bair...
BTW, if you enter the following three words into google: sheila bair fdic
you should see a sponsored link at the top of the page:
Sheila Bair must resign
brontecapital.blogspot.com Why Sheila Bair must resign and thoughts from Bronte Capital
Hehehehe
@ Hope.
Savings and Loan, the Sequel.
"Silverado, won't you lend me a loan"
these were non-cumulative preferreds, right?
Jeebus, the danger money I should be getting for running the Red Line gauntlet to the swamp and back... File under "America's Crumbling Infrastructure":
Six Killed, Scores Injured in Washington Metro Crash (Update2) - Bloomberg.com
C
/edit - kerr-rist, Metro deathtoll now at 6, local site reports. Many injured, some badly. That's horrific.
From Marketwatch:
"Japan's Nikkei 225, Topix tumble over 2% in opening minutes "
Where's Counterpointer?
Nikki! Noooo!
C
excellent
It's all running down like a clock with a low battery tossed into a vat of molasses.
I remember when things were good.
I think that we beings all want the same things that have nothing to do with the eCONomy...
Love, acceptance and a feeling of purpose.
What say ye?
@ Broward-- I remember when things were good.
When was that?
If only I could have had the foresight to lose an incredible amount of money (the more the merrier) in banking, i'd have come out smelling like a rose.
The banks must have thought they were operating a dividend re-investment plan with the TARP money. Bernanke and Geithner will tell us all about the new DRIP plan that will save the economy and speed up the recovery.
Basel Too --
these were non-cumulative preferreds, right?
Looks like "it depends". According to the term sheet,
The Senior Preferred will pay cumulative dividends at a rate of 5% per annum until the fifth anniversary of the date of this investment and thereafter at a rate of 9% per annum. For Senior Preferred issued by banks which are not subsidiaries of holding companies, the Senior Preferred will pay non-cumulative dividends at a rate of 5% per annum until the fifth anniversary of the date of this investment and thereafter at a rate of 9% per annum.
@ Broward-- I remember when things were good.
When was that?
Click here to refresh
just prior to the end of the second Eisenhower administration
"When was that? "
before the average congressperson was born in the 50s
Bwhahahaha!!! That is all I have to say about this post. This is all I think I NEED to say about this post.
When was that?
1991-1997.
Briefly okay (not good) from 2003-2005 or so.
Intermittent sucky / really sucky since then.
I can't believe I lasted this long.
I suppose I really gave up around 2006.
If they at least made some effort ($1 a year for eternity) to pay us back, i'd feel better.
So, are we so far gone as a society that we can't rebuild after this collapse?
I do the things I can do to make things better for others.
Mostly just giving GnomeGrown food to the local shelters and that makes me feel better than any other gift I've given.
EVER.
Alright, we'll now return you to your regularly programmed schedule...
This is news?
I just figured they'd keep the cash and give us the finger.
Except for the watching the end of the world part, me & the hub are same as
always.
As good as it gets is pretty good.
However, I doubt we will stay immune forever.
Gird up your Loins Broward.
Mrs Watanabe is not loving me longtime.
Holy shitake, best get a FedCash opened up in Tokyo before Hu Goa's Porta Alegra to get a TARPon..
As America slowly devolves in a glad-handing, lying sack-of-crap wasteland.
Blub.
Blub.
Blub.
"yes, we can!"
"Gird up your Loins Broward."
leather pants a must
If I disappear now, it will be because we are going to the bar for
a drink. would the govt make me say that?
sorry, I thought I read Lions
"...would the govt make me say that?"
no, but your mother might
Well, he prolly thinks they are lions.
Monkey I heard of, dolphin you guys taught me.
But lions?
Roarrrrrrrrr!!
nemo: thanks for the info; after a bit of research, it seems that all three are BHCs. So it looks like they've got to repay the missed divvies before paying any junior divvies. the disparate treatment for the non-BHCs is interesting, but it makes sense as the BHC could simply funnel money to its affiliates.
Which fickle finger of fete spills the beans and tells the people the offal truth?
So we should all SUPPORT their campaign by clicking on the sponsored link.
My mother is in Merritt Island. I am in Baltimore.
Balto I think didn't have a bubble. Since the 50s maybe.
My room is facing downtown. And there is no downtown, no
skyline. Lexington Mkt is still there tho.
fate? feta? French fete as in party?
Party, as in Grand Old or that other one.
You really think they will catch up, Basel?
Any new Calisplostion events?
should have stopped when I was a head
Broward, you had my heart with "groth rates of iguanas"
want a bologna sandwich with
JD/AMF aint the avg Roquefort..
Now you are a foot?
Elephants and Asses
Trampling the Masses
KRE's rally off the lows is much less impressive than XLF's.
the naughty nineteen have the political connections to survive. some, like GS can even turn taxpayer dollars into giant bonuses in a matter of months, or, like Jamie's crew, can turn a crisis into whole new regional terriroty. but as for the lil' guppies who never cracked 5 bil market cap in the best of times...
snork
Wow, looks like Asia's lining up a rout. Kospi, ASX, NZX all down. Others will have a sh!tty open.
World Bank issues glum report. Stocks tank. Beans, glitter and goo all going south.
Ok, so where's the ol store of value? Hmm? T's? Guess so, wonder if there are any issues this week. There are!?
What a lucky break.
C
And I haven't even had that drink yet. Blame it on Baltimore.
So this elephant tries to pin the tale on a donkey, but it doesn't have an opposable thumb and forefinger-so it's a no-go.
well, Antique Road Show is almost over, and I'm out of beer.
what's the point of going on?
I haven't the slightest Idea what to tell my mother to invest the money--the sales proceeds in.
liz: yes, i fully expect them to earn their way out of the debt. not.
for a lot of the smaller banks, it's all about the cleaning up the bezzle right now. go long on paper shredders and hard drive scrubbers.
liz: precious metals (take delivery) and damn the difference
@ volker
Switch to liquor.
Elephants and Asses
Not much difference between the parties now.
Does it matter who steals from you?
Actually the elephant's trunk would pin that tail nicely, but you have
to spin the elephant around 3 xs and that might be difficult.
Off for that drinky-poo.
@ Liz
Enjoy your beverage.
Volker++. Liz, go long gold coinz! 10-20%. Cash is also good, short term treasuries, or CDs.
I'm always suspicious of any concern called "Banc" or "Bancorp" in the USA.
BanCorpse?
Tarp it!
liz,
I like Wampum, but that's me.
now on to the college world series on ESPN
Geaux Tigers
buh bye
Banc shot, right corner pocket
Hello, my name is bANK fAILURE.
"I have an adiction to shorting banks,and I'm trying to quit, but the juice is just so strong....I find myself waking up thinking about the ALT-A Wells Fargo level three book of legacy pensions thats still all HELOCed up....and that is hard habit to break my friends.. I also admit to shorting FAZ, but Im going cold turkey on that one."
Orwell's Fargo is a double plus good bank.
Juvenal,
Did you see the 60 minute feature on supermax prisons. We make gulags look good..
It is only monday, yet another exiting week is in the works. wonder, if Asian markets are green shooting already (sorry, I am addicted to green shootz & yes we can phrases .) Anyone caught a wonderful article on Red Dragon vs Paper Tiger at zerohedge over the weekend?
Zero Hedge: Guest Post: China - Economic Catastrophe Unfolding
Could not agree more. The real question is when, because such a high degree of illusion might take some time to unfold.
Prisons....One of the last growth industries of America.
But for how long?
HomeGnome,
As long as we can afford to pay them.
how bad is the second quarter?
being short GE is gonna pay again the Vice Chairman announced already?
I like GE at 9 or maybe a hard 8...Imma Gambler bleated.
Orwell's Fargo catered to Californians, who used HELOCS almost 3x as much as the rest of country when buying a new car in 2007.
What happens when the Staged Coach's wheels fall off?
Juvenal,
you will be able to buy a 2008 BMW 6 series for say 20 k (inflation adjusted) by oct 2009.
Missed payments ? Just means they need MO TARP $$$$$$$$$ !
Orwell's Fargo = The Overlend Express
"Note: missing up to six dividend payments was allowed under the TARP agreement, so this isn't a default.".......So Tarp is pick-a-pay.....Bwahahahahah!
(Except the joke is on us.)
Can we haz 10% UE ?
YES WE CAN!!!
Good point. TARP is a lot like "pick a payment" loan.
"I like GE at 9 or maybe a hard 8"
I like GE as well at - 4 .. Don't get me wrong, It's a good company after GE Capital subtraction. And yeah, it will survive but what will be the cost of its survival?
Don't pay a cent for 6 months and/or zero interest forever @ Crazy Benjamins on all TARP loans, call now.
I am in Baltimore.
Give my regards to Omar.
Ladies and Gentlemen:
We Got Him!
Sanford spokesman Joel Sawyer said Monday he last spoke with the governor last Thursday and was not aware of any other staff member speaking with him since. He says nobody in the office spoke with Sanford on Monday.
Sawyer declined to discuss where the governor was specifically. He released one statement early in the afternoon:
"Gov. Sanford is taking some time away from the office this week to recharge after the stimulus battle and the legislative session, and to work on a couple of projects that have fallen by the wayside. We are not going to discuss the specifics of his travel arrangements or his security arrangements "
Gawd, I love South Carolina.
@HomeGnome
Prisons: One department of the Criminal Justice Industry
Anonymous Bosch,
I am still amazed that people find shows like 'law and order' (in it's various incarnations)and 'CSI' (in it's various incarnations, again) uplifting.
@JD,
Wampum is always good, as are bundles of tobacco. I've been hoarding wampum since the 70s, long before it was cool.
"Gawd, I love South Carolina."
Sounds a lot like Louisiana.
Are there mandatory minimum sentences for:
Murder?
Rape?
Theft?
or is it only for drugs?
I wonder why...
Jury Nullification:
Jury nullification - Wikipedia, the free encyclopedia
People deserve the government they elect.
//Gov. Sanford is taking some time away from the office this week to recharge after the stimulus battle and the legislative session, and to work on a couple of projects that have fallen by the wayside.//
@ Lucifer,
You ain't from 'round here, is ya?
AWOLigarchy
Lucifer,
Uplifting? I thought they were How-To shows like that Yankee Carpenter guy.
"Gawd, I love South Carolina."
Sounds a lot like Louisiana.
One word: Illinois.
judges have been proscribed since the administration of Ronald Reagn
something else we'll have to talk about
Is Sanford on a bender?
From the good old south.. no
//You ain't from 'round here, is ya?//
Pici-a-Pay TARP
Pay Option TARP
I suspect, although I do not know, he is involved in an extra-marital something or other
Spokesman: Sanford Will Return Wednesday | wltx.com
Check out the video on the right.
At 3:13... Bubba Knotts in action.
G
As in framing people based on poor or non-existent evidence without due process.
Stalin did that too.. his show trials had better theatrics, though.
// I thought they were How-To shows like that Yankee Carpenter guy.//
gonna be a wild ride for equities
He has seen the light and turned away from his marriage?
//he is involved in an extra-marital something//
Can the defaulting banks use jingle-mail to send the keys to their banks to the Treasury?
I'm coming around to the idea that having one sizable bank in each state owned by Treasury to offer a "Public Option" that is staffed by civil servants who don't get multi-million salaries and bonuses. Let's cut off the middlemen between the public money faucet and the public.
Their collective motto: Banking, As it Used to Be.
he may have seen the light coming his way and somehow warded the rays other else
Maybe the Gov was making a run?
635 Pounds of Pot Worth $1 Million Seized | wltx.com
If I suspend my mortgage payments for a couple of months...it's not default either....right? If I hold my breath for a count of 10 between each one...that's prolonging my life too....right?
Check out the video on the right.
At 3:13... Bubba Knotts in action.
Well, that was pathetic.
"Who's in charge?"
"Well, that's the problem..."
Governor went over the hill. LMAO.
Porky Pig...
That's all folks.
Step into the light.. play "doom 3" to understand that comment.
//He may have seen the light coming his way and somehow warded the rays other else//
JimPortlandOR (profile) wrote on Mon, 6/22/2009 - 8:36 pm
Their collective motto: Banking, As it Used to Be.
I'd opt for: Banking, As It Should Always Have Been.
Though there are far more ways for insiders to exploit any banking system than there are capabilities for defense against the exploitations. Centralized control/authority is even more susceptible to corruption than an oligopoly, much less a (more) free market. Computer intelligences will have to run our NWO.
We need a CorruptionCzar!
We have BHO from the Chicago school of politics.
//We need a CorruptionCzar!//
Tron Guy Forced to Sell Plane on eBay Due to Crap Economy
Tron Guy Forced to Sell Plane on eBay Due to Crap Economy - tron guy - Gizmodo
You know Tron Guy, that chubby embarrassment in a Lycra suit? Apparently, he was making enough scratch to own a plane that matched his outfit. Sadly, the economy has made his lifestyle a little less sustainable, so he's selling it.
Seriously, this guy owns a private plane. To be fair, he made most of his money via his day job as a computer programmer, not via his night job as a poster child for a complete lack of self-awareness.
But hey, his loss is your gain! If you want a single prop airplane with a custom Tron paintjob and a thick odor of sweat and cheese curls, it's currently at $22,600 on eBay.
Ron White has a private plane.
So he can fly high.
YouTube - Ron White on his Pot Bust - Part 1 of 4
from Politico:
"Sanford, a potential 2012 presidential aspirant, has previously raised eyebrows in South Carolina for bringing squealing and defecating pigs into the statehouse to make his case against pork-barrel spending and for sporting a ratty blazer to his own Inauguration."
Missing Gov. sparks political fight - Jonathan Martin and Andy Barr - POLITICO.com
boyz will be boyz
HomeGnome (profile) wrote on Mon, 6/22/2009 - 8:51 pm
We need a CorruptionCzar!
True. The computers can't effectively supervise and manage the corruption. Another problem, of course, is that computational solutions to economic problems may not include, or be in the best interest of, the humans. Whereas human solutions will generally benefit other humans - or at least, small cabals of them. But if we are truly so inefficient maybe the free market trumps us? Evolution, Neo.
"Gov. Sanford is taking some time away from the office this week to recharge after the stimulus battle and the legislative session, and to work on a couple of projects that have fallen by the wayside. We are not going to discuss the specifics of his travel arrangements or his security arrangements "
Put it all together; my wife did.
Governor Sanford
FOUR Children
Father's Day
Wife "not worried," on vacation with the kids
He's having a vasectomy!
Me thinks Gov. Sanford may have completed his classroom training in toilet toe tapping, and now is in the on-the-job training phase, touring the state's public facilities.
That's Genius, Bob, pure genius.
State Unemployment Rates Rises to Record 12.1%
(WLTX, AP) - The unemployment rate in South Carolina now stands at 12.1 percent, according to new numbers released Friday.
The South Carolina Employment Security commission says the number rose 0.7 percent in May from where it was in April.
More than 266,000 people are jobless.
The loss in jobs came mainly in the manufacturing sector, where the commission says 2,200 positions were lost.
However, the commission says nonfarm employment in the state actually rose for the third month in a row, with an overall increase of 11, 800 job. The majority of those gains--7,100--came from the lesiure and hospitality sector, believed to be because of the need for more tourism labor for the upcoming season.
The national unemployment rate is 9.4 percent.
Maybe Sanford is fleeing the scene.
CorruptionCzar?
Why?
We already have an entire CorruptionPolitBureau.
Bob - your wife talking her book?
C
Dr. Strangelove: Well, that would not be necessary, Mr. President. It could easily be accomplished with a computer. And a computer could be set and programmed to accept factors from youth, health, sexual fertility, intelligence, and a cross-section of necessary skills. Of course, it would be absolutely vital that our top government and military men be included to foster and impart the required principles of leadership and tradition. Naturally, they would breed prodigiously, eh? There would be much time, and little to do. Ha, ha. But ah, with the proper breeding techniques and a ratio of say, ten females to each male, I would guess that they could then work their way back to the present Gross National Product within say, twenty years.
//The computers can't effectively supervise and manage the corruption. Another problem, of course, is that computational solutions to economic problems may not include, or be in the best interest of, the humans. //
No comment!
many SC economists are predicting 15% unemployment for 2010. Lots of "accidental" unemployed (i.e. Boomers that moved down to SC, thinking their retirements were set).
I have not seen him around here..
//Maybe Sanford is fleeing the scene.//
Anonymous Bosch (profile) wrote on Mon, 6/22/2009 - 9:00 pm
CorruptionCzar?
Why?
We already have an entire CorruptionPolitBureau.
Yes, but we need the corruption to be centrally managed.
Any news on Corus?
Now you know why I won't marry!
//No comment!//
more green shoots. Florida beats revised estimates for May
http://edr.state.fl.us/reports/newsletters/nlmay09.pdf
Lucifer (profile) wrote on Mon, 6/22/2009 - 9:03 pm
Now you know why I won't marry!
//No comment!//
I thought human ownership ended after the Civil War...
RIF - it just doesn't get the job done like a market-based solution. A simple matter of efficiency.
C
I am not sure about that..
//I thought human ownership ended after the Civil War...//
Agent Smith: Did you know that the first Matrix was designed to be a perfect human world? Where none suffered, where everyone would be happy. It was a disaster. No one would accept the program. Entire crops were lost. Some believed we lacked the programming language to describe your perfect world. But I believe that, as a species, human beings define their reality through suffering and misery. The perfect world was a dream that your primitive cerebrum kept trying to wake up from. Which is why the Matrix was redesigned to this: the peak of your civilization. I say your civilization because as soon as we started thinking for you it really became our civilization which is of course what this is all about. Evolution, Morpheus, evolution, like the dinosaur. Look out that window. You had your time. The future is our world, Morpheus. The future is our time.
//The computers can't effectively supervise and manage the corruption. Another problem, of course, is that computational solutions to economic problems may not include, or be in the best interest of, the humans. //
Lucifer (profile) wrote on Mon, 6/22/2009 - 9:06 pm
I am not sure about that..
//I thought human ownership ended after the Civil War...//
Notice I left off the smile. At first, I thought it an accidental omission.
Hope in SD,
I saw that article and posted the juicy bits on Sunday. I'm finding that I find that if I sip enough of this lovely viognier I don't want to torch the place quite as much as previously >; )
RIF:"Yes, but we need the corruption to be centrally managed. "
You're right, of course. Federal Corruption Guidelines and Minimum Contributions Schedule
Counterpointer (profile) wrote (in reply to...) on Mon, 6/22/2009 - 9:05 pm
RIF - it just doesn't get the job done like a market-based solution. A simple matter of efficiency.
C
This is true. Corruption needs to be fairly and equitably distributed by free market principles, not hoarded. Down with the CorruptionCzar!
Dividends is a small part of the story. Warrants is a much bigger one. The banks figure that now that their stocks have skyrocketed from the lows of last fall, these warrants got too costly. Goldman may be paying out the record bonus pool amount ever, but hey, that's not expenses - that's investment in talent, right?
The article requested is no longer available.
Scott Talbott, senior vice president of government affairs at the Financial Services Roundtable, an industry lobbying group, said the negotiations with Treasury had taken longer than expected.
That's partly because the value of the underlying bank stock has fluctuated during the financial crisis. Treasury has wanted more money for the warrants it holds than the banks have been willing to pay.
...
Until the banks buy back the stock warrants that Treasury holds, they remain entangled in a program that has subjected them to limits on executive pay and other restrictions. The banks have complained that the government-imposed rules could hurt their profits and prevent them from hiring or keeping top talent.
Here is more - enjoy the banksters' gratitude
May 22 (Bloomberg) -- Banks negotiating to reclaim stock warrants they granted in return for Troubled Asset Relief Program money may shortchange taxpayers by almost $10 billion if Treasury Secretary Timothy Geithner’s first sale sets the pace, data compiled by Bloomberg show.
While 17 financial institutions have repaid TARP funds, two have come to terms with the U.S. on the value of the rights to buy stock that taxpayers received for the risk of recapitalizing the industry. The first was Old National Bancorp in Evansville, Indiana, which gave the Treasury Department $1.2 million last week for warrants that may have been worth $5.81 million, according to the data.
If Geithner makes the same deal for all companies in the rescue program, lenders may walk away with 80 percent of the profits taxpayers might have claimed.
...
The U.S. received rights to buy 1.4 billion common shares in exchange for $287 billion in TARP capital, according to data compiled by Bloomberg.
A company that accepted aid had to grant warrants equal to 15 percent of the TARP investment at a strike price equal to the 20-day trailing average of the shares. A strike price is that at which an option can be exercised.
Now that Goldman Sachs, JPMorgan and Morgan Stanley have applied to return the $45 billion they received, they may also reclaim their warrants.
Those may be worth about $4 billion, data compiled by Bloomberg show. If the U.S. followed the Old National formula for the three New York-based banks, taxpayers would receive less than $1 billion.
...
At the University of Louisiana, Wilson used Black-Scholes and two other systems to evaluate Old National’s warrants, plugging in three volatility assumptions: 37.1 percent, 59.72 percent and 72.89 percent.
The lowest, calculated from the bank’s stock price movements over the past seven years, yielded the smallest warrant value, ranging from $2.50 to $6.72 per warrant. The highest, based on changes since Jan. 1, 2008, returned a range from $8.88 to $11.05. The middle estimate -- the options-implied volatility -- said a right was worth from $5.93 to $9.69.
Lucifer. Good. Still my favorite Smith; works on so many levels...
Agent Smith: I'd like to share a revelation that I've had during my time here. It came to me when I tried to classify your species. I realized that you're not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment, but you humans do not. You move to an area, and you multiply, and multiply, until every natural resource is consumed. The only way you can survive is to spread to another area. There is another organism on this planet that follows the same pattern. A virus. Human beings are a disease, a cancer of this planet, you are a plague, and we are the cure.
Here's why you know you are inside a credit event of a magnitude that is difficult to imagine:...
Fed Said to Be in Discussions on Changing Repo Transactions - Bloomberg.com
...gaps in existing tri-party Repo agreements indicate parties are not in agreement.....these are actually related parties.
see, when I get a "netting" trades indication.....bad stuff starts to happen....haven't had this feeling in quite some time.
Is everyone having a good time as America becomes a much BIGGER version of Argentina or Mexico in the near future
We have more guns..
//Is everyone having a good time as America becomes a much BIGGER version of Argentina or Mexico in the near future//
Lucifer (profile) wrote on Mon, 6/22/2009 - 7:19 pm
Yes more guns and pigs sums it up !
Lucifer (profile) wrote on Mon, 6/22/2009 - 9:19 pm
We have more guns..
//Is everyone having a good time as America becomes a much BIGGER version of Argentina or Mexico in the near future//
and a LOT more money! plus we've learned from the past. this time it's different
Incoming on pigscan.
Fingers crossed some of the previous conversations are not repeated too.
C
Thanks, hopeinsd. Just got back on line and it was a good read.
Def Jane,try a bottle of cate's corner if you like a viognier,jamie gave me a bottle and it was superb.We make good booze and good herb here,can't speak for the meth,no reason to try something weaker than my coffee.
One of my biggest pet peeves, and I have a lot of pet peeves, is people that use the meaningless term 'a number of'. Zero is a number you pinhead. I need know nothing else about Meg Reilly to conclude she is a half witted stooge. I find the 'missing tarp payments' and Meg Reilly to be analogous to paying your mortgage on the 15th rather than the first, I don't care how many times one of the programmable Wells Fargo teleboobs calls me on the 8th to tell me my mortgage is late, I'm not putting it in the mail till the 10th. If you wanted the TARP payments every month you shouldn't have given them a 6 month month grace period.
We obviously need a mascot that the banks can stand behind. I seal of approval kind of thing.
How about "Tarpy" the bailout turtle?
He could be a goofy looking friendly turtle that says things like "This bank is not underwater now...guh, guh, guh!"
All banks that pay back their money get "Tarpy's" seal of approval.