BWAHAHAHAHA, I can hardly wait for them to start sifting through my failed banks deals. The owner also owned a construction company. Millions of dollars of loans were made to the construction side from the bank. The construction company is in deep trouble as well. My bosses husband works for the construction side and they've had huge layoffs and shortened weeks...

Probably a note in his file!

greenchutes wrote:

big fish get tens of billions and a "heckuva job".

plus an interest rate structure to die for and interest payments for life on their "reserves"

Bob Dobbs wrote:

GOP fixer/consultants may wish they never organized the tea-party movement.

Are the checks going to bounce?

Rajesh wrote:

Are the checks going to bounce?

I'm thinking they'll get out of control; some might be coopted by new leaders.

revocation of holder in due course is at the discretion of the creditor.

I'm sure FHA could use someone of his background to aid in their effort to expand.

TJ and The Bear wrote:

arming the Taliban to fight the USSR,

The Taliban were armed to fight the Mujaheddin.

The Mujaheddin were armed to fight the USSR.

edit: The USSR were armed to fight the Nazis.

Im gonna reply again because I really enjoy your work here.

When a check writer stops payment on a check to the lowest common denominator, you can rest assured the check writer will recieve a valuable set of discovery questions from a questionable lawyer that owns a check cashing business.

Slumdog wrote:

We will; of that I am certain.

Oh yeah. Problem is -- unlike the last spike -- the USD will not survive this event in its present form.

from your lips to God's ears.

Every time I hear a Republican bitching about welfare, I ask them what we should do with Jamey Dimon.

Sweet!!!

scheme to conceal material facts...

This needs to start with small banks and build into an all out attack on wall street, because obviously those bastards have all been guilty of a scheme to conceal material facts!!

Obviously BB has a cloaking device on the

YouTube - Klingon Cloak Test

or try to see and hear: YouTube - Klingon Bird of Prey Decloaking 2

Rajesh wrote:

I like the new Dollar coins. I got four of them and not a bad President in the bunch. It will get tougher as we go down the list.

The only dollar coins I like have a walking liberty on the front and an eagle on the back. They are a little heavy, though.

James Rose

Nice food for thought but America is by far the toughest nut to crack since corporations lead by the nefarious own Wash DC

longwaver wrote:

Would you call that a collapse that would destroy the currency and the USA?

Hardly. I'm not saying the USA will be destroyed, although it will certainly undergo some wrenching changes.

Flowers on the Wall

Night everyone.

Hey, I was just looking at the CPI report, and it looks like the numbers were calculated incorrectly. Has anyone noticed this?

Amen ...

"Every time I hear a Republican bitching about welfare, I ask them what we should do with Jamey Dimon. "

noob goldberg wrote:

Hey, I was just looking at the CPI report, and it looks like the numbers were calculated incorrectly. Has anyone noticed this?

Grrr. Go back to your curling.

The other question is what have the Dems done with Jamey Dimon? Not a dam thing different.

sm_landlord wrote:

Grrr. Go back to your curling.

Wow. What else does noob do? A real renaissance man. Noob do you primarily curl your own hair? Or do you have repeat clients? Is that something you picked up during down time while driving a truck?

Yah gotta love Squid - Wikipedia, the free encyclopedia

The mouth is equipped with a sharp horny beak mainly made of chitin[2] and cross-linked proteins, and is used to kill and tear prey into manageable pieces. The beak is very robust, but does not contain minerals, unlike the teeth and jaws of many other organisms, including marine species.

The skin is covered in chromatophores, which enable the squid to change color to suit its surroundings, making it effectively invisible. The underside is also almost always lighter than the topside, to provide camouflage from both prey and predator.

At the front of the mantle cavity lies the siphon, which the squid uses for locomotion via precise jet propulsion. In this form of locomotion, water is sucked into the mantle cavity and expelled out of the siphon in a fast, strong jet. The direction of the siphon can be changed, to suit the direction of travel.

YouTube - The Incredible Mr. Limpet

Mike in Long Island wrote:

Wow. What else does noob do? A real renaissance man. Noob do you primarily curl your own hair? Or do you have repeat clients? Is that something you picked up during down time while driving a truck?

I have a buzz cut; the only hair worth curling on my body resides on my chest.

And I'm seriously debating about waxing my entire body, because my youngest continually uses both my chest and leg hair as leverage for climbing. It brings tears to my eyes every single time.

"And I'm seriously debating about waxing my entire body, because my youngest continually uses both my chest and leg hair as leverage for climbing."

I gotta go , I can't top that ...

sportsfan wrote:

Funny thing is, four 1960 quarters are worth over $11.00 today.

I wonder if our kids will be saying the same thing about the tin and pot metal coins of today in 2060?

mmckinl wrote:

I gotta go , I can't top that ...

My thoughts exactly.

YouTube - Zager And Evans - In The Year 2525

NorkaWest wrote:

Yup, Statistics Canada skrood up, again.

HA! I don't sit on that advisory committee, so I take no responsibility for CPI calculations. But I will say that just got a lot of mileage out of those CPI numbers over the past week, professionally. It was something that only took a couple of hours, that I did on a lark, that resulted in a great deal of positive feedback. I can work on esoteric crap for years and not have anyone appreciate it, but throw together a bunch of statistics in a couple of hours and have people falling over each other congratulating me.

There's no justice in this world. By the way, I've consumed a great deal of alcohol this evening and if there's ever a time to use the 'ignore' feature of hoocoodanode on noob, tonight's your night.

NorkaWest wrote:

Is it youngster's climbing or you lack of clothes that brings the tears?

It's the pain. Both from the physical hair removal, and the recognition that I'm so short-sighted as to forget to throw on a t-shirt in the middle of the night when I pull the baby out of her crib.

homedad43 wrote:

I personally find alcohol a great help in handling kids who are climbing up the hair on my chest.

It blinds them for a moment, but they seem to recover quickly.

sm_landlord wrote:

I wonder if our kids will be saying the same thing about the tin and pot metal coins of today in 2060?

Somehow I think you know the answer to that one. Of course, scrap metal could be valuable by then.

Actually had a fascinating conversation with church youth tonight. First Sunday in Lent typically referred to as "Satan Sunday" since the gospel refers in one book or another to Christ's temptation, so the conversation turned to whether evil exists and if so, in what guises it resides. Showed clips from Schindlers' List and Pacino's Devil's Advocate.

Discussed whether a corporation can be evil, per se, and used Goldman Sachs as an example. Referenced the shorting of products that it simultaneously sold to customers as well as the more recent example of helping Greece hide it's debt. Had to really work to make the concepts doable but they followed. Consensus was that it was certainly behavior that would make you think it was evil. By evil, engaging in behavior and submitting to temptation that separates one from God.

Only goof was that the Schindler clip was of the Nazi Concentration Camp Commandant sniping at isolated Jews to spur the others along and it was interspersed with his topless girlfriend in his bed.

Oops.

homedad43 wrote:

Only goof was that the Schindler clip was of the Nazi Concentration Camp Commandant sniping at isolated Jews to spur the others along and it was interspersed with his topless girlfriend in his bed.

I accidentally showed 'The Graduate' once to a youth group. Oops indeed.

km4 wrote:

Calif. city charges fee for 9-1-1
Residents forced to pick yearly subscription or per-use fee for 9-1-1.

From the article: "Residents can pay a $48 voluntary fee for the year which allows them to call 9-1-1 as many times as necessary.Or, there's the option of not signing up for the annual fee. Instead, they will be charged $300 if they make a call for help. "

Local government as blackmailer, as predator. Since probably about half the residents in Tracy are busy abandoning the place -- it's in an RE bubble zone that crashed hard -- nobody local is paying attention.

noob goldberg wrote:
I support the economy by purchasing increasingly larger sizes of clothing.
I still occasionally wear clothes I wore in high school. Fortunately there is not that much of the wardrobe left

It's too bad you can't just trade up by selling off your old, non-fitting clothes and rolling the profits into ever-larger garments!

pavel would've enjoyed the session immensely since we also touched on moral relativism.

[Ambac, MBIA Inc. and Assured Guaranty, the three largest bond insurers, have set aside 0.04 percent of the total public finance debt they insure, or $520 million, to pay claims on municipal securities, according to regulatory filings by the companies]

More Bullish glass 1/2 full preparation. Wonderful oversight too! Why bother reserving at all ? What's this insurance worth ?

You have a kitten?

I don't understand - how is this any different than Banks holding securities without marking them to market? Is this guy in trouble because he did it before the rules were changed & everyone could do it?

I voted for both, as in whipsaw action.

When I first come down here to go to law school in '72, I worked
for the First National Bank of Blah, Blah. One branch. When they
got examined, a batch of paperwork I have no idea what it was,
got moved from desk to desk because they didn't want the examiners
to see it. I'm sure it was a by today's standards

When I represented First Federal of Blah Blah. they really sweated
it; I don't know whether they did anything to hide anything. But they
were in a mess, and I suppose everybody knew that. They are about
20 years gone.

Eric K. wrote:

I don't understand - how is this any different than Banks holding securities without marking them to market? Is this guy in trouble because he did it before the rules were changed & everyone could do it?

I bet if they hadn't ordered the second appraisals and said - hey no problem, same as it ever was - and used the old original valuations to show the examiners they'd be 'okay'... then it would just be sloppiness and not criminal. But once they had the second appraisals and decided to cover it up - that's where they screwed up.

Lesson learned: don't look, don't ask and you won't have lie about any of it later.

lawyerliz wrote:

New Icon everybody!!

Appropriate too.

What fun.

reading but not commenting cause im stupider than usual (which is pretty damn stupid)

except one thing

regarding CRs observation that

"Hiding material information from examiners is pretty stunning ..."

yeeeeaaa id plead the defense....

hey this is "proprietary information" and uh as such, ah.... im not at liberty to divulge the details

yeah..thats the ticket...

besides ben bernake told me bankers are allowed to keep secrets..

Frankly, I'm not stunned at all. I would expect it to be
extremely common.

Now

Deflation, unless and until all the freshly printed money gets into the hands of the peasants.....

There was a feeling of great calm and serenity as I gazed ahead at a bright light at the end of what looked to be a tunnel, but my bad it was just a KIA with a busted headlight and the other on high-beam, as we made our way to the Nevada side of Heavenly, for a 3rd day of frozen waterboarding, economic torture to the tune of $87 per lift ticket...

We made a few runs and then headed for the tall timber so we could drink from our bota bags full of 200 proof everclear laced with as better to be able to ski down through the forest for the trees doing pro bono work without a helmet.

Down goes Canada !

USA!

The housing market here in the greater PDX metro is like molasses. No reason to build any new SFR for 24 months, at least.

lawyerliz wrote:

Methinks that there was a disagreement in management and the
the coverers-up were too stupid to hide or destroy the evidence.

Prolly thought the appraisals would show an increase - after all real estate only goes up - when it didn't they failed to bury the body deep enough or talked about it and were ratted on [w/ all the lay offs & disgruntleds running about no surprise that might happen].

It was $87 @ Mammoth and $68 a June Mountain...

There's going to be one heck of a shakeup in the ski resort industry, there's about 10 resorts in the Tahoe area alone.

Was about 65 bucks at Homewood. Absolutely packed on Presidents day weekend. Tho 50 degrees and good snow will do that.

dr munch wrote:

Was about 65 bucks at Homewood. Absolutely packed on Presidents day weekend. Tho 50 degrees and good snow will do that.

I'd love to see the 'economics' on one of these hills - costs & necessary revenue fully penciled out - bet a lot of the cost is amortized in the purchase prices hedgies paid all levered up for many of them - more bubble fallout.

I believe I have seen a walk away in PDX in higher end SW hills. No for sale signs in last 6-months.... The moving van showed up a few days ago during one of my walks, the next time there was only an engine hanging on a nice lift with plastic hanging over all and a pile of junk and now there is nothing.

We usually ski at Sierra Summit above Fresno, and it's got a state of the art 1959 lodge-motel-not very updated, has modern lifts but nothing fancy, no gondolas or anything. My wife and I can ski mid-week for $159 per day including a motel room. It's about as bare bones of a place as far as amenities go, but has good skiing and snowboarding. It's for sale, which means it's probably not making money.

How are the ones with fancy schmancy amenities doing?

anyone thinking of purchasing California GO bonds? almost 7% taxable seems pretty decent as a deflation hedge. I'm thinking of putting a bit in to hedge.

poic wrote:

anyone thinking of purchasing California GO bonds? almost 7% taxable seems pretty decent as a deflation hedge. I'm thinking of putting a bit in to hedge.

I'm selling the last of my munis tomorrow.

"I'm selling the last of my munis tomorrow. "

Even your general obligations bonds? If you don't mind can I ask why? This would be more of a long term hold for me than a short-term trade. tia.

dryfly wrote:

That's what put Whistler into receivership wasn't it? They levered up to build a bunch of condos [some hedgie's smart idea] and they didn't sell. I'd guess all the biggies did it.

Not just condos but the purchases of the properties themselves. Epic fail on projected revenue streams. Same thing that sunk tishman. It's true, you make your money on the buy not the sell.

Coming up from the Nevada side ski lift of Heavenly, there was this brand new monstrosity of a 'cabin' right next to the slopes. It was about 3,000 sq ft, 2 stories, with lots of fancy see me-dig me touches...

I suppose it was $2 or $3 million or more

With a for sale sign on it, unoccupied.

I don't California G.O bonds as a good deal right now. 7% may not look like much in a few years. If that happens big hit to NPV and the value of par at return of principal. If the do prove to be excellent yields you'll get calls at the worst times. There might be a few special district bonds trading below par or with short maturities or no call date that might be worth a look.