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lunar
26.03.2009, 13:09
Buying Toxic Assets with Bailout Money (http://www.ritholtz.com/blog/2009/03/buying-toxic-assets-with-bailout-money/)
(http://www.ritholtz.com/blog/2009/03/buying-toxic-assets-with-bailout-money/email/)
By Barry Ritholtz - March 26th, 2009, 6:25AM

The NYPost (http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm) reports the two biggest banking wrecks, CitiGroup and Bank of America, have been aggressively buying toxic assets with bailout money, and goosing the MBS auctions.

You can imagine why this might get people upset. I suspect its rather unavoidable. These banks have investment wings, and they are trolling for opportunities.
“As Treasury Secretary Tim Geithner orchestrated a plan to help the nation’s largest banks purge themselves of toxic mortgage assets, Citigroup and Bank of America have been aggressively scooping up those same securities in the secondary market, sources told The Post. . . But the banks’ purchase of so-called AAA-rated mortgage-backed securities, including some that use alt-A and option ARM as collateral, is raising eyebrows among even the most seasoned traders. Alt-A and option ARM loans have widely been seen as the next mortgage type to see increases in defaults.

One Wall Street trader told The Post that what’s been most puzzling about the purchases is how aggressive both banks have been in their buying, sometimes paying higher prices than competing bidders are willing to pay.

Recently, securities rated AAA have changed hands for roughly 30 cents on the dollar, and most of the buyers have been hedge funds acting opportunistically on a bet that prices will rise over time. However, sources said Citi and BofA have trumped those bids . . .”

If anything, this argues against bailouts and in favor of nationalization, firing management, wiping out S/Hs, zeroing out debt, haircutting bond holders, etc.

Source:
CITI, BOFA BUYING BACK LAUNDERED LOANS AT LOWER RATES (http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm)
MARK DeCAMBRE
NYPost, March 25, 2009
http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm




radfringe http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/radfringe) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=105069) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=105069) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=105069) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=105069&level=three) Thu Mar-26-09 07:17 AM
Response to Reply #13 (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3801089&mesg_id=3801144) 17. I mentioned this a few days ago... http://upload.democraticunderground.com/discuss/images/avatars/rainbowflag.gif Treasury Presses Ahead With Plan For Toxic Assets
New Body to Work With Private Investors
By David Cho
Washington Post Staff Writer
Sunday, March 22, 2009; Page A01
http://www.washingtonpost.com/wp-dyn/content/article/20... (http://www.washingtonpost.com/wp-dyn/content/article/2009/03/21/AR2009032102246.html)

The Treasury Department will unveil the next step in its financial rescue efforts tomorrow, announcing that it intends to create a government body, called the Public Investment Corp., to finance the purchase of as much as $1 trillion in soured loans and toxic assets from ailing banks, according to sources.

The plan calls for the new entity to combine its resources with the Federal Deposit Insurance Corp., the Federal Reserve and private investors to buy those loans and other assets. But the government will put far more money into the deals and take on more risk than the investors, which could include hedge funds, private-equity firms, pension funds and foreign investors with U.S. headquarters, the sources said. The corporation will be funded with $75 billion to $100 billion from the $700 billion financial rescue package.

=============



The Public Investment Corp (PIC) - buys toxic assets from the banks/corps. It plans on at least partially using PRIVATE INVESTORS.

Ok - so who are these PRIVATE INVESTORS? Will the include the very same corporate banksters that got us in this mess in the first place? If so - WHAT A SWEET DEAL!

How so? Let's say I'm a bankster, I've got $100million toxic assets on my books, I sell them to PIC for $Xmillion, then I turn around and buy them back for even less than the "sale price" - after all I don't want to pay "full price" because these assets are Toxic.

Meanwhile, what regs are going to be put in place to ensure the "PRIVATE INVSESTORS" don't go all hog-wild again.


.....so soll Vertrauen entstehen :confused:gomad:bad

lunar
26.03.2009, 15:03
..statistisch gesehen leben in einem deutschen Haushalt noch 1 1/2 Kinder :rolleyes
(Radio DRS)

lunar
26.03.2009, 16:08
...man sollte sich zwischendurch immer ein bisschen bewegen http://www.stock-channel.net/stock-board/attachment.php3?attachmentid=79090&stc=1

lunar
26.03.2009, 16:17
antigop (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=113583) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=113583) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=113583) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=113583&level=three) Thu Mar-26-09 10:41 AM
Response to Original message (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3801089&mesg_id=3801089) 47. Thomas Frank: The "Populists: are Right About Wall Street http://www.democraticunderground.com/discuss/images/transparent.gif http://www.huffingtonpost.com/thomas-frank/the-populist... (http://www.huffingtonpost.com/thomas-frank/the-populists-are-right-a_b_179302.html)

How has a popular Democratic president with a convincing electoral mandate failed to translate the opportunities of recent events into the "change" for which voters clamored? What kind of miscalculation allowed his administration to stir up such a wave of populist fury in such a short time?

The short answer, of course, is AIG. Why did the Treasury Department allow the payout of many millions in bonuses to executives of the unit that sank the company? Every answer the president's brain trust offered made them look more feckless, at the very moment they were rolling out a bank plan designed to spare stakeholders of our troubled financial institutions the haircut they so richly deserve.

This lapse of common sense arises from a deeper problem: the reflexive contempt for populism that is felt by the dominant faction of the Democratic Party -- the faction that regards itself as the responsible guardian of financial civilization, and that thinks of populism as crackpot economics and senseless proletarian rage.

I was reminded of the party's long-simmering debate over populism a little while ago when I read an essay by Al From, the founder of the centrist Democratic Leadership Council (DLC), announcing his retirement as that group's "CEO" and recounting his many successes over the years in building a "political brand." A short while later I read in Roll Call an account of Mr. From's career as "one of the 20th century's most successful political entrepreneurs," a man whose adventures in shifting the Democratic Party to the right formed a neat analogy to Mr. From's father's accomplishments in the suburban garage-building biz.

In Washington, where the need to treat government like a business is a no-brainer, thinking about politics in this way -- as though it were a matter of branding, entrepreneurship and CEOs -- is thought to be highly advanced stuff.

But I don't agree. Surely we have learned the hazards of turning business models loose on the state, after all our experiences with the "MBA president" and his "market-based" government, all the "K Street Projects" and "superlobbyists" of the last 20 years, all the regulatory agencies that understood the regulated as their "customers," all the bailouts engineered by friends of the bailed-out, all the faith placed in "voluntary compliance" on the grounds that business would naturally self-regulate......

lunar
26.03.2009, 17:04
New: Israel suspected of bombing Gaza arms convoy (http://www.timesonline.co.uk/tol/news/world/middle_east/article5980794.ece)

http://www.timesonline.co.uk/multimedia/archive/00510/warplane2_385x185_510218b.jpg (http://www.timesonline.co.uk/tol/news/world/middle_east/article5980794.ece)
Nearly 40 people died when unidentified warplanes entered Sudanese airspace to bomb 17 trucks smuggling arms to Gaza



Israel accused of war crimes over munitions (http://www.timesonline.co.uk/tol/news/world/middle_east/article5971668.ece)


Israel defence minister accused of war crime (http://www.timesonline.co.uk/tol/news/world/middle_east/article5908235.ece)
....Israel refused to comment on reports that it was responsible for the attack, which took place inside Sudanese airspace near the border with Egypt..... :gomad

lunar
26.03.2009, 21:59
LEITWÄHRUNG

Warum China gegen den Dollar schießt

Von Christoph Rottwilm (christoph_rottwilm@manager-magazin.de,%20mm-lesermail@manager-magazin.de)

Russland und China stellen den Dollar als Leitwährung in Frage - mal wieder. Eine schwache Replik aus den USA sowie die schnelle Reaktion der Märkte zeigen: Der Greenback steht tatsächlich auf einem wackligen Fundament. Eine Alternative ist allerdings kaum in Sicht......

http://www.spiegel.de/wirtschaft/0,1518,615575,00.html

Zum Original-Beitrag (showthread.php3?p=1229343#post1229343)
merci :)

lunar
26.03.2009, 22:07
Thu 26 Mar 2009

PIMCO: We Can Haz Moar QE? (http://lolfed.com/2009/03/26/pimco-we-can-haz-moar-qe/)

Posted by alyx under loller dollar (http://lolfed.com/category/loller-dollar/)
[6] Comments (http://lolfed.com/2009/03/26/pimco-we-can-haz-moar-qe/#comments)
http://lolfed.com/wp-content/uploads/bill-gross.jpg

Much like I would like a pony, a small island and other things that would require me to print currency in order to procure them, PIMCO would like the Fed to at least double its already burgeoning balance sheet (http://www.reuters.com/article/newsOne/idUSTRE52P1H920090326). This from PIMCO’s top man in Asia:
Bond giant Pacific Investment Management Co said the Federal Reserve needs to double its balance sheet up to $6 trillion to replace the amount of wealth destroyed in the United States, an executive said on Thursday.

Liabilities on the Fed’s balance sheet should rise to between $5 trillion and $6 trillion later this year amid the financial crisis that roiled global markets, said Brian Baker, chief executive Pimco Asia Ltd.

“Right now, the Fed has spent about $3 trillion. We believe there has to be further stimulus policies put in place,” Baker told Reuters.

Also, PIMCO is apparently a big believer in the “too big to fail” theory, if you look at their investments:
Pimco’s chief investment officer Bill Gross is one of the industry’s most widely watched figures. Pimco is buying high-yield bonds in some U.S. banks that have received government support.

“We are investing in Citibank. We are investing in Bank of America. Those are, we believe, national champion banks or financial institutions that will survive,” he said.

Emphasis mine, on the “national champion banks” part. Did you know that Citi and Bank of America had been crowned our national champions? When do we start getting the Shepard Fairey “C” agitprop billboards, brought to us by ClearChannel? (Though I should say, if by “national champion” he means “A#1 at gaming the system,” (http://www.nypost.com/seven/03252009/business/double_dippers_161157.htm) I might actually allow it.)

Also, NYC-ers: it’s “Stimulus Thursdays” at the (B)anchor…. flyer moderately NSFW (http://twitpic.com/2gotp) so you know you want to be there.

:rolleyes ...sind Papierpreis eigentlich gestiegen :confused

lunar
26.03.2009, 22:18
.................................................. http://www.cofanifunebri.it/images/tn_3hor6.gif

lunar
27.03.2009, 09:33
State aid urged for Russian banks

By Catherine Belton and Stefan Wagstyl in Moscow

Published: March 26 2009 22:22 | Last updated: March 26 2009 22:22

Pyotr Aven, president of Alfa Bank, one of Russia’s largest private banks, called on the government to move swiftly to recapitalise the top 30 banks and name the institutions that will receive assistance to help kick-start the flow of credit, which has almost dried up amid growing fears over bad loans.

“We can expect that the level of overdue loans for the whole system might reach 15-20 per cent” by the end of the year, Mr Aven told the Financial Times. “Maybe the 20-30 biggest banks, including Alfa, will receive state support – we’re sure.

“But the future of hundreds of small banks is under big question ... believe that hundreds of banks will disappear by the end of the year.”..... :rolleyes

full story: http://www.ft.com/cms/s/0/5abc63b4-1a4f-11de-9f91-0000779fd2ac.html?ftcamp=rss

lunar
27.03.2009, 10:46
Swiss banks ban top executive travel

By Richard Milne in Geneva

Published: March 26 2009 19:08 | Last updated: March 26 2009 19:08

Switzerland’s private banks have started to ban their top executives from travelling abroad, even to neighbouring France and Germany, because of fears they will be detained as part of a global crackdown on bank secrecy.

The head of one leading private bank in Geneva said the growing determination of countries such as the US and Germany to tackle tax evasion and secrecy (http://www.ft.com/cms/s/0/61618274-17db-11de-8c9d-0000779fd2ac.html)meant banks felt they had to take extra measures to protect employees.

“Some banks have taken this precaution,” he said. “If today I go to Germany to visit two banks I deal with...German customs can take me in and question me.”

The travel bans, which have not been brought in by all banks, have focused on those visiting the US, following the detention there last year of a senior private banker from UBS (http://markets.ft.com/tearsheets/performance.asp?s=ch:UBSN), Switzerland’s biggest bank, as part of a federal tax investigation (http://www.ft.com/cms/s/0/ddeae744-fe14-11dd-932e-000077b07658.html).

The head of the private bank, which itself has no travel restrictions, said: “Today if you are a banker from Switzerland going to the US you have to fear you will be taken in for questioning. I am thinking twice about going to America.”......

full story: http://www.ft.com/cms/s/0/df9ce572-1a36-11de-9f91-0000779fd2ac,dwp_uuid=9788f55e-07e0-11de-8a33-0000779fd2ac.html

...alle konzentrieren sich auch CH - so ganz verständlich ist das nicht :rolleyes warum müssen andere Steueroasen-Banker keine Befürchtungen haben :confused

lunar
27.03.2009, 15:17
Fri 27 Mar 2009

Mea Culpa (http://lolfed.com/2009/03/27/mea-culpa/)

Posted by Jason under Timmay (http://lolfed.com/category/timmay/) , bandit (http://lolfed.com/category/all-ur-bankz/bandit/) , bernanke (http://lolfed.com/category/bernanke/) , greenspan (http://lolfed.com/category/greenspan/) , hank paulson (http://lolfed.com/category/hank-paulson/) , jamie dimon (http://lolfed.com/category/jamie-dimon/)

[3] Comments (http://lolfed.com/2009/03/27/mea-culpa/#comments)

http://lolfed.com/wp-content/uploads/blueeyedfinancialbandit.jpg

Here at LOLFed, from time to time, we like to point a gnarled finger of blame at those in industry and government whom we feel is at least partially responsible for our current state of affairs. We have done so without regard to race, ethnicity, political party, gender, collegiate affiliation, or employer. As it happens, this has been a mistake. At least, according to Brazilian president Luiz Inacio Lula da Silva (http://www.cnbc.com/id/29910075).


“This crisis was caused by the irrational behavior of white people with blue eyes, who thought they knew everything and now show they know nothing,” Lula da Silva said after a meeting with the UK Prime Minister Gordon Brown in the country’s capital of Brasilia.

[...]

When challenged about his claims, Lula said: “I only record what I see in the press. I am not acquainted with a single black banker,” according the Guardian newspaper.

After some exhaustive research this morning into the matter (read: Google Image Search), I have compiled a list of the financial movers and shakers who fit Lula’s description and are therefore worthy of our scorn.



Jimmy Cayne
Jamie Dimon
Ken Lewis
Hank Paulson
And that’s it. Paulson’s eyes may actually be grey; I discovered that if I looked directly into them for too long I began to turn to stone so I had to give it a quick glance and guess. Of those we so heartily mock, those four are the only persons that deserve it. Alan Greenspan? Brown eyes. Geithner? Same. Bandit? Indian. Johns Stumpf, Mack, and Thain? Brown. Ben Bernanke’s eyes are seedy black little things, devoid both of color and of emotion. If eyes are the windows to the soul, the lights were long ago turned off in Ben’s. Barney Frank? Brown. Chris Dodd? Can’t tell, for he is a squinty fellow. Chris Cox? Brown as well. Dick Fuld? I’d like to think he is sporting two black eyes. Angelo Mozilo? His eyes are actually spray-tan orange.

So there you have it. From now on, if anything goes wrong economy-wise, you’d better believe we will be right on top of it, figuring out how to blame one of those four men. Actually, we would never blame Jamie Dimon for anything, because we’re kind of afraid :bad (...und darum zieht er die Leute weiterhin über den Tisch :gomad sanft ausgedrückt :rolleyes) of him.




Brazil President Blames 'White People' for Crisis
http://www.cnbc.com/id/29910075

lunar
27.03.2009, 15:21
Fri 27 Mar 2009

In Order To Ruin Your Morning (http://lolfed.com/2009/03/27/in-order-to-ruin-your-morning/)

Posted by Jason under Uncategorized (http://lolfed.com/category/uncategorized/)

http://lolfed.com/wp-content/uploads/takingtemperature.jpg

I am well aware that I might not think on the same plane as, say, a normal person. But surely I cannot be the only one who experienced highly unpleasant visuals when I read the following line from this AP article on the president meeting with bank CEOs today (http://www.google.com/hostednews/ap/article/ALeqM5hEx3tiPJhZQLVqjNmHR_oP6FZMuwD976848O0):
The president was set to take the temperature of the bank CEOs on Friday at the White House.

Ew, ew, ew, ew, ew, ew, ew.

....ob er was erreicht :confused:rolleyes bis jetzt haben ihm schon viele in den Brei gespuckt und er rührt in sehr vielen Töpfen :rolleyes

lunar
27.03.2009, 15:23
MILLIONENZAHLUNGEN

Dresdner-Bank-Vorstände lassen sich Abschied versilbern (http://www.spiegel.de/wirtschaft/0,1518,615845,00.html)

Nach dem Kauf durch die Commerzbank sind die Vorstände der Dresdner Bank ihren Job los. Ihr letztes Jahr ließen sich die Manager aber vergolden. Trotz der Milliardenverluste verdienten sie weit mehr als jeder andere Bankvorstand in Deutschland. mehr... (http://www.spiegel.de/wirtschaft/0,1518,615845,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6002) ]




...da könnte doch auch mal die Kavallerie ausrücken :o

lunar
27.03.2009, 15:28
OBAMA'S AFGHANISTAN PLAN: MORE TROOPS, MORE DIPLOMATS, MORE AID WORKERS, MORE MONEY:rolleyes (http://www.huffingtonpost.com/2009/03/26/afghan-war-to-get-more-us_n_179661.html)

http://images.huffingtonpost.com/gen/71307/thumbs/r-AFGHANISTAN-huge.jpg (http://www.huffingtonpost.com/2009/03/26/afghan-war-to-get-more-us_n_179661.html)


...ist aber nicht sehr kreativ :o

lunar
27.03.2009, 15:46
Cuomo Widens His A.I.G. Investigation

March 26, 2009, 6:17 pm

http://graphics8.nytimes.com/images/2008/12/12/nyregion/12cuomokennedy.75.jpg

Attorney General Andrew M. Cuomo of New York said Thursday afternoon that he was widening his investigation of the American International Group to examine whether its trading counterparties improperly (...ja was denn sonst :mad) received billions of dollars in government money from the troubled insurer.

Those counterparties include Goldman Sachs, which received $12.9 billion, as well as Société Générale of France and Deutsche Bank of Germany, which each received nearly $12 billion....

full story: http://dealbook.blogs.nytimes.com/2009/03/26/cuomo-widens-his-aig-investigation/?hp




einer der Kommentare:

March 26th, 2009 - 6:45 pm (http://dealbook.blogs.nytimes.com/2009/03/26/cuomo-widens-his-aig-investigation/?hp#comment-223717)
Everyone now knows what a few always suspected. :kotzGoldman Sachs was the reason behind the AIG bailout. Without it, GS would have been $13 Billion in the hole from their exposure. They claim they were hedged appropriately. In truth, the are correct. GS has always “hedged” its bets and protected its “interests” by placing former execs into the Treasury and Fed Reserve and other parts of government (Congress, Governorships, various political advisors/lobbyists). That way, while BS and Lehman Bros are allowed to fail, they are bailed out in secret via AIG.

While Congress is practicing creative legislation (in a justified 90% bonus tax which they are now backtracking from), they should pass some useful laws banning former WS execs esp of GS from being in Tres or Fed. How about that for a conflict of interest Mr. Paulson?

— Posted by Andrew

.....GS ist und bleibt die mieseste Bude :bad von all den vielen miesen Buden :o

Hoka
27.03.2009, 16:16
Scheinfirma gegründet – in 45 Minuten
...

In anderen Fällen gelang es dem Wissenschaftler, schon mit Hilfe einer eingescannten Kopie seines Führerscheins eine Firma zu gründen. Dagegen erwiesen sich die Behörden in Bermuda und in der Schweiz als deutlich misstrauischer. Sie forderten allerlei Dokumente an, darunter auch eine beglaubigte Kopie der Geburtsurkunde. «In der Praxis», so lautete Sharmans Fazit gegenüber dem «Economist», «haben OECD-Länder eine viel laschere Regulierung als klassische Steuerparadiese.»

http://www.tagesanzeiger.ch/wirtschaft/unternehmen-und-konjunktur/Scheinfirma-gegruendet--in-45-Minuten/story/24667224

Hätte ich das im Witze-Thread posten sollen?http://www.stock-channel.net/stockselect/stock-board/images/smilies/confused.gif

lunar
27.03.2009, 16:16
hallo,

wie immer!! Die mit der grössten schnauze......


Scheinfirma gegründet – in 45 Minuten

Mit einem Budget von 10'000 Dollar und Google hat ein Politologe versucht, in den USA und anderen OECD-Ländern Scheinfirmen zur Steuerhinterziehung zu gründen – mit erstaunlichen Resultaten.

Die Schweiz, Österreich, Luxemburg und andere Länder stehen wegen des Bankgeheimnisses als Steueroasen in der Kritik – doch in jenen Ländern, aus denen die heftigste Kritik kommt, ist es ein Kinderspiel, eine anonyme Firma zu gründen, mit deren Hilfe sich Steuern hinterziehen lassen. Dies hat der Politikwissenschaftler Jason Sharman von der australischen Griffith University mit einem simplen Selbstversuch herausgefunden.

Freundliche Diskretion in Nevada, Delaware und Wyoming
Wie das britische Magazin «Economist» berichtet, versuchte Sharman zunächst in den USA, mit Hilfe von 10'000 Dollar und einem Internetanschluss Firmen zu gründen, ohne die Inhaber, den Geschäftszweck oder sonstige Einzelheiten zu nennen. Mit besonderem Erfolg im Bundesstaat Nevada: Die offizielle Webseite warb mit einer «begrenzten Anforderungen» zur Berichterstattung gegenüber den Behörden – und einem flotten Ein-Stunden-Service für Firmengründungen.
Eine Strategie, die offenbar Erfolge bringt. In Nevada erblühen laut dem «Economist» alljährlich rund 80'000 neue Firmen – insgesamt bislang 400'000 Unternehmen (http://javascript%3cb%3e%3c/b%3E:void%280%29;), so dass eine auf jeden sechsten Einwohner kommt. Schon im Jahr 2005 kamen die US-Behörden in einer Bedrohungsanalyse zu dem Schluss, dass der Service von Bundesstaaten wie Nevada, Delaware und Wyoming durchaus mit berüchtigten Offshore-Finanzzentren konkurrieren kann. Und der mittlerweile bekannte Senator Carl Levin hat die Gesetzgebung dieser Staaten bereits scharf kritisiert und Massnahmen angekündigt, die Heimlichtuerei von Firmen zu verhindern – zum Beispiel durch Vorschriften zur Identifizierung der Eigentümer.
Kein Problem in Grossbritannien und anderen OECD-Ländern
Insgesamt 45 Mal versuchte Politologe Sharman weltweit, anonyme Firmen oder Bankkonten zu eröffnen. Zum Beispiel auch in Grossbritannien, das Steuerflüchtlingen in scharfen Worten den Kampf angesagt hat. Dort gelang es Sharman laut «Economist», innerhalb von 45 Minuten ein Unternehmen zu gründen – ohne Angaben zu den Inhabern, einem Vorstand oder sonstige Informationen. Die Kosten für diesen Service betrugen lediglich rund 750 Dollar.
In anderen Fällen gelang es dem Wissenschaftler, schon mit Hilfe einer eingescannten Kopie seines Führerscheins eine Firma zu gründen. Dagegen erwiesen sich die Behörden in Bermuda und in der Schweiz als deutlich misstraurischer. Sie forderten allerlei Dokumente an, darunter auch eine beglaubigte Kopie der Geburtsurkunde. «In der Praxis», so lautete Sharmans Fazit gegenüber dem «Economist», «haben OECD-Länder eine viel laschere Regulierung als klassische Steuerparadiese.» (Tagesanzeiger.ch/Newsnetz)

http://www.tagesanzeiger.ch/wirtscha...story/24667224 (http://www.tagesanzeiger.ch/wirtschaft/unternehmen-und-konjunktur/Scheinfirma-gegruendet--in-45-Minuten/story/24667224)

Zum Original-Beitrag (http://showthread.php3?p=1229545#post1229545)
merci wuerfel :) ....und trotzdem der andauernde :hammer für CH - unsere Politiker scheinen reichlich :dumm zu sein dafür die anderen um so mehr Kavallerie erprobt - ich kapier nicht, dass man das nicht an die grosse Glocke gehängt wird :grrrrr

lunar
27.03.2009, 16:17
Scheinfirma gegründet – in 45 Minuten
...

In anderen Fällen gelang es dem Wissenschaftler, schon mit Hilfe einer eingescannten Kopie seines Führerscheins eine Firma zu gründen. Dagegen erwiesen sich die Behörden in Bermuda und in der Schweiz als deutlich misstrauischer. Sie forderten allerlei Dokumente an, darunter auch eine beglaubigte Kopie der Geburtsurkunde. «In der Praxis», so lautete Sharmans Fazit gegenüber dem «Economist», «haben OECD-Länder eine viel laschere Regulierung als klassische Steuerparadiese.»

http://www.tagesanzeiger.ch/wirtschaft/unternehmen-und-konjunktur/Scheinfirma-gegruendet--in-45-Minuten/story/24667224

Hätte ich das im Witze-Thread posten sollen?http://www.stock-channel.net/stockselect/stock-board/images/smilies/confused.gif

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1229547#post1229547)
.....oder unseren Politikern um die Löffel hauen und den "anderen" damit Feuer unter ihren Ärschen entzünden :gomad

lunar
27.03.2009, 18:39
Goldman's Blankfein says Obama has deep understanding for the problems :bad (Bloomberg TV)

yes we can :grrrr

lunar
27.03.2009, 20:44
http://www.spiegel.de/img/0,1020,1476066,00.jpg (http://www.spiegel.de/video/video-57979.html)



"Moulin Rouge": Tanzen gegen die Krise http://www.spiegel.de/static/sys/v8/icons/ic_spiegel_tv.gif (http://www.spiegel.de/video/video-57979.html)

lunar
27.03.2009, 22:10
Fri 27 Mar 2009

No Respect… No Respect At All (http://lolfed.com/2009/03/27/no-respect-no-respect-at-all/)

Posted by alyx under jamie dimon (http://lolfed.com/category/jamie-dimon/)
(http://lolfed.com/2009/03/27/no-respect-no-respect-at-all/#respond)
http://lolfed.com/wp-content/uploads/dimon-no-respect-at-all.jpg

We wonder if he’s having trouble getting tables at Dorsia now, too. JPMorgan’s Jamie Dimon, former contender for LOLFed’s Golden Cojones award who was recently caught whining about his vilification (http://lolfed.com/2009/03/11/jamie-dimon-i-can-haz-less-vilification/), showed up today to meet with President Obama and got pwned by security (http://www.bloomberg.com/apps/news?pid=20601087&sid=aoXhaz0zeNPk&refer=home):Jamie Dimon of JPMorgan Chase & Co., John Mack of Morgan Stanley and Camden Fine, president of the Independent Community Bankers of America, arrived for the noon meeting of as many as 15 banking executives such as chief executive officers Vikram Pandit of Citigroup Inc. and Lloyd Blankfein of Goldman Sachs Group Inc. At the security guard’s booth, Dimon was asked to repeat his name twice and spell it once. He said he was there for a meeting with the president.

So, the Bandit shows up, sans mask, and waltzes right in. Camden Fine, whom I would not even recognize, has no problems. Dimon, however… what was your name again?

We’re worried about you lately, Jamie. Maybe you should invest in some of those “I’m CEO, bitch” business cards that Mark Zuckerberg, the guy from Facebook, used to hand out. You know, just to make sure everyone remains aware and shows respect.

....Ego bissle angekratzt :confused:rolleyes .....wäre :supi allein mir fehlt der Glaube :o

lunar
27.03.2009, 23:18
FgMn2OJmx3w&eurl

lunar
28.03.2009, 11:19
27. März 2009, 16:32 Nur noch Ordnungsbussen für Kiffer (http://www.nzz.ch/nur_noch_ordnungsbussen_fuer_kiffer_1.2271760.html)

Kommission will die Gerichtsmaschinerie gegen Konsumenten stoppen (http://www.nzz.ch/nur_noch_ordnungsbussen_fuer_kiffer_1.2271760.html)

Der Cannabis-Konsum soll verboten bleiben, künftig aber nur noch im Ordnungsbussenverfahren geahndet werden. Die Gesundheitskommission des Nationalrats hat einen entsprechenden Vorstoss gutgeheissen. Damit würden Kiffer nicht mehr vor Gericht gezogen. (http://www.nzz.ch/nur_noch_ordnungsbussen_fuer_kiffer_1.2271760.html) ...http://www.nzz.ch/static-images/headline_topic_more-hover.gif (http://www.nzz.ch/nur_noch_ordnungsbussen_fuer_kiffer_1.2271760.html)

http://www.nzz.ch/images/cannabis_small_1.2271773.1238167673.jpg :kiff (http://www.nzz.ch/nur_noch_ordnungsbussen_fuer_kiffer_1.2271760.html)

:rolleyes ...so was von halberzig
...ist einfach :dumm man weiss nun mittlerweile wirklich dass das Kraut besser gegen Kopfschmerzen & Co. hilft als teure Medis :o entlastet also die Krankenkassen :cool

lunar
28.03.2009, 11:20
Hourly Action In Gold From Trader Dan (http://jsmineset.com/index.php/2009/03/27/hourly-action-in-gold-from-trader-dan-91/)

Posted: Mar 27 2009 By: Dan Norcini

.......Then again, this is what we can expect now that the feds are dictating what we may or may not do. I am waiting for them to mandate cameras in our bathrooms and electronic metering devices on our toilets to monitor whether we are flushing our toilets too frequently and using too much water. They could really juice things up if they hooked that stuff up to some sort of talking recording: “WARNING – you are exceeding the government determined level of water use for flushing – please desist immediately or your picture will be displayed on U-Tube along with the all the rest of the public enemies of the government – also, we know that you like guns too”.......

.....Enjoy your weekend – throw some meat on the grill, invite a friend or two over, and try to forget about these markets for a while. :supi


Zum Original-Beitrag (http://showthread.php3?p=1229637#post1229637)
....das ist eben die Crux mit der Medaille und den zwei Seiten - einerseits führen die Übertreibungen/Gier/Uneinsichtigkeit/Arroganz usw. zu dieser Bevormundung - andererseits kann man nur mit Schrecken an so einen Überwachungsstaat denken :rolleyes Ansätze gibt es ja auch in Europa schon zu genüge :mad

lunar
28.03.2009, 21:37
Der Jahrhundertschwindel (http://www.dasgelbeforum.de.org/forum_entry.php?id=93698) - dottore, 28.03.2009, 18:38 (Boerse & Wirtschaft) (http://www.dasgelbeforum.de.org/forum.php?category=5)

Hoka
30.03.2009, 02:53
http://www.20min.ch/images/content/1/4/9/14904913/8/teaserbreit.jpg


Kät wird Musicstar mit dem Song 'Es gibt keine Indianer mehr'

Da hoff ich doch, dass sie nicht Recht hat.http://www.stock-channel.net/stockselect/stock-board/images/smilies/tongue.gif

http://www.musicstar.sf.tv/

lunar
30.03.2009, 08:39
DETROIT IN DER KRISE

Obama lehnt Sanierungspläne der US-Autobauer ab - GM-Chef muss zurücktreten (http://www.spiegel.de/wirtschaft/0,1518,616167,00.html)

http://www.spiegel.de/img/0,1020,1447885,00.jpg (http://www.spiegel.de/wirtschaft/0,1518,616167,00.html)
Rick Wagoner am Ende: Der Chef des pleitebedrohten Autogiganten General Motors tritt auf Druck der US-Regierung zurück. Präsident Obama lehnt die bisher vorgelegten Sanierungspläne von GM und Chrysler ab und fordert dringend Nachbesserungen - sonst werden die Konzerne nicht gerettet. mehr... (http://www.spiegel.de/wirtschaft/0,1518,616167,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6717) ]





http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifAbwrackprämie: Auftragsboom bringt Opel aus der Pleite-Zone (http://www.spiegel.de/wirtschaft/0,1518,616157,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifAutokrise: Peugeot Citroen feuert Konzernchef (http://www.spiegel.de/wirtschaft/0,1518,616160,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifWiedeking: Porsche-Chef verurteilt Jagd auf schnelle Renditen (http://www.spiegel.de/wirtschaft/0,1518,616137,00.html)

***************************


DRAMA UM US-AUTOBAUER

Letztes Ultimatum für Detroit (http://www.spiegel.de/wirtschaft/0,1518,616169,00.html)

Jetzt beginnt der Schlussakt im Kampf um GM und Chrysler. 60 respektive 30 Tage haben die maroden Autobauer Zeit, um ein glaubwürdiges Zukunftskonzept auszuarbeiten - wenn sie scheitern, lässt die Regierung sie insolvent gehen. Von Marc Pitzke, New York mehr... (http://www.spiegel.de/wirtschaft/0,1518,616169,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6717) ]

lunar
30.03.2009, 08:44
Kät wird Musicstar mit dem Song 'Es gibt keine Indianer mehr'

Da hoff ich doch, dass sie nicht Recht hat.http://www.stock-channel.net/stockselect/stock-board/images/smilies/tongue.gif

http://www.musicstar.sf.tv/

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1229753#post1229753)
...ob sie von Herrn Steinbeisser gesponsert wurde :rolleyes:confused

...übrigens war die Kavallerie nicht immer erfolgreich:
http://www.bigcountry.de/index.php?Seite=/Kavallerie_indianerkrieg_3.htm

http://www.bigcountry.de/indianer65.jpg :supi

lunar
30.03.2009, 08:54
Sun 29 Mar 2009

Happy Birthday, Dr. Doom
(http://lolfed.com/2009/03/29/happy-birthday-dr-doom/)
Posted by alyx under win (http://lolfed.com/category/win/)

http://lolfed.com/wp-content/uploads/roubini-birthday.jpg

Celebrating 50 years of doom — happy birthday, Nouriel Roubini. Looks like there was quite the party at his vulva-adorned Tribeca loft (http://nymag.com/daily/intel/2008/10/economist_nouriel_roubini_has.html) :eek:hihi last night (actual pic of Roubini’s wall-vulvas on Julia Allison’s Tumblr here (http://julia.nonsociety.com/post/90858876-0-6)).

TBI (http://www.businessinsider.com/happy-50th-roubini-2009-3) beat me to this, tho’ I have Dr. Doom as a Facebook friend and got the scoop there first. Popular guy: there are a lot of hot ladies leaving effusive birthday wishes on his Facebook wall. First you get the doom, then you get the infamy, then you get the women…

lunar
30.03.2009, 09:04
...fiktion oder doch nicht ???

0nG8RoUiAgU

http://www.youtube.com/watch?v=0nG8RoUiAgU

Zum Original-Beitrag (http://showthread.php3?p=1229761#post1229761)
merci :schwitz

lunar
30.03.2009, 09:08
Krugman: Geithner's Plan Is To "Rearrange The Deck Chairs And Hope That Keeps Us From Hitting The Iceberg" (http://www.huffingtonpost.com/2009/03/29/geithnerkrugman-feud-come_n_180477.html)

http://images.huffingtonpost.com/gen/71572/thumbs/s-KRUGMAN-large.jpg (http://www.huffingtonpost.com/2009/03/29/geithnerkrugman-feud-come_n_180477.html)
WATCH: Geithner's Sunday Show Debut ... Says Banks Need To Start "Taking Risks Again" (http://www.huffingtonpost.com/2009/03/29/geithnerkrugman-feud-come_n_180477.html)

Robert Kuttner: Obama's Banking Rescue: O for Opaque (http://www.huffingtonpost.com/robert-kuttner/obamas-banking-rescue-o-f_b_180529.html)



Quick Read (http://www.huffingtonpost.com/2009/03/29/geithnerkrugman-feud-come_n_180477.html)
Comments (2607) (http://www.huffingtonpost.com/2009/03/29/geithnerkrugman-feud-come_n_180477.html)
Timothy Geithner (http://www.huffingtonpost.com/news/timothy-geithner) http://www.titanicinbelfast.com/uploads/illiceberg.jpg

lunar
30.03.2009, 09:11
Obamas Are Personally Paying For White House Renovations (http://nymag.com/news/intelligencer/55679/)

http://images.huffingtonpost.com/gen/71610/thumbs/s-OBAMAS-DECORATIONS-large.jpg (http://nymag.com/news/intelligencer/55679/)

lunar
30.03.2009, 09:17
[/url][url="http://online.wsj.com/article/SB123836938251967565.html"]How A Modern Depression Might Look (http://www.huffingtonpost.com/business/)

http://images.huffingtonpost.com/gen/42666/thumbs/s-DEPRESSION-large.jpg (http://online.wsj.com/article/SB123836938251967565.html)

lunar
30.03.2009, 10:49
http://www.spiegel.de/static/epaper/SP/2009/14/ROSPANZ20090140001-312.jpg .

lunar
30.03.2009, 22:11
30 March 2009

How the Financial Industry Holds America Captive (http://jessescrossroadscafe.blogspot.com/2009/03/crash-has-laid-bare-many-unpleasant.html)

You heard this here first.
"The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time."

The Quiet Coup - Simon Johnson - The Atlantic Monthly (http://www.theatlantic.com/doc/200905/imf-advice)http://4.bp.blogspot.com/_H2DePAZe2gA/SdCQeaxkZAI/AAAAAAAAIwc/YUe45cwsLTo/s400/johnson-chart.png (http://4.bp.blogspot.com/_H2DePAZe2gA/SdCQeaxkZAI/AAAAAAAAIwc/YUe45cwsLTo/s1600-h/johnson-chart.png)

Posted by Jesse at 5:08 AM (http://jessescrossroadscafe.blogspot.com/2009/03/crash-has-laid-bare-many-unpleasant.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=3236753642844249665) :verbeug

lunar
30.03.2009, 22:32
...von DU - merci :) http://media.timesfreepress.com/img/news/tease/2009/03/27/090329_dr_obama.jpg :rolleyes

comments: http://www.timesfreepress.com/news/2009/mar/29/dr-obama/?opinioncartoons

lunar
31.03.2009, 10:32
ON NOTICE (http://www.washingtonpost.com/wp-dyn/content/article/2009/03/30/AR2009033003409.html?wprss=rss_politics)

http://images.huffingtonpost.com/gen/71846/thumbs/r-WALL-STREET-CEOS-huge.jpg (http://www.washingtonpost.com/wp-dyn/content/article/2009/03/30/AR2009033003409.html?wprss=rss_politics)

Obama's Aggressive Move Against GM Has Left Some Banking Executives Wondering Whether They Are Next In Line (http://www.washingtonpost.com/wp-dyn/content/article/2009/03/30/AR2009033003409.html?wprss=rss_politics)

....die ganze Reihe :klo

lunar
31.03.2009, 10:37
PAYDAY: GM's Rick Wagoner Drives Away with $20M Retirement


Critic Calls Multi-Million Package "Perfect Example" of Frustration with Industry

By MICHELLE LEDER and JUSTIN ROOD
March 30, 2009

325 comments (http://www.abcnews.go.com/Blotter/comments?type=story&id=7208201)

Rick Wagoner (http://www.abcnews.go.com/Politics/Business/story?id=7206475&page=1) will leave his post as CEO of bailed-out General Motors with a $20 million retirement package, the company's financial filings show.

http://a.abcnews.com/images/Blotter/ap_wagoner_090330_mn.jpg In this March 12, 2009 file picture, General Motors Chief Executive Officer Richard Wagoner listens... http://a.abcnews.com/assets/images/icons/icon-arrow-down.gif (http://www.abcnews.go.com/Blotter/story?id=7208201&page=1#)
In this March 12, 2009 file picture, General Motors Chief Executive Officer Richard Wagoner listens as President Barack Obama, not pictured, speaks about the economy at Business Roundtable, an association of chief executive officers of leading U.S. companies, at a hotel in Washington. http://a.abcnews.com/assets/images/icons/icon-arrow-up.gif (http://www.abcnews.go.com/Blotter/story?id=7208201&page=1#)
(Charles Dharapak/AP Photo)

Although the Treasury Department has barred GM from paying severance to Wagoner (http://www.abcnews.go.com/Business/wireStory?id=7206103) or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News.

The Obama administration asked for Wagoner to resign (http://blogs.abcnews.com/george/2009/03/obamas-toughest.html) Sunday, as part of its restructuring of the auto industry. President Obama said this morning that forcing Wagoner out indicated it was a time for new leadership.

Under Wagoner's leadership, GM lost tens of billions of dollars, took billions in taxpayer-financed aid, and cut tens of thousands of jobs, including announced plans to cut 47,000 employees by the end of 2009.


Wagoner's Private Jet Trip to Washington

Wagoner was one of the three auto industry CEOs who inflamed Congressional ire by flying to Washington in private jets (http://www.abcnews.go.com/Blotter/story?id=6285739&page=1) to ask for taxpayers to bail out their beleaguered businesses. They returned a month later in hybrid cars......

full story: http://www.abcnews.go.com/Blotter/story?id=7208201&page=1

....ob's fürs Nötigste reicht :gomad

lunar
31.03.2009, 10:52
Mon 30 Mar 2009

Go Cry, Emo Citizen (http://lolfed.com/2009/03/30/go-cry-emo-citizen/)

Posted by alyx under bartertown (http://lolfed.com/category/bartertown/)

http://lolfed.com/wp-content/uploads/go-cry-emo-citizen.jpg

Drudge Report has a headline that we have found ourselves wishing is a joke:The U.S. government is set to offer an online emotional rescue kit!

“Getting Through Tough Economic Times” will launch Tuesday with a media push across all platforms.

The site is meant to help people identify health concerns related to financial worries.

The feds will warn of depression, suicidal thinking and other serious mental illnesses. It will raise warning flags for: Persistent sadness/crying; Excessive anxiety; Lack of sleep/constant fatigue; Excessive irritability/anger.

The guide will be available starting at midnight at http://www.samhsa.gov/economy.

Site’s up early (I’m writing this at 10:30 Eastern) and it is painfully dry compared to the way Drudge built it up. I was expecting it at least to be illustrated! A sample:Economic turmoil (e.g., increased unemployment, foreclosures, loss of investments and other financial distress) can result in a whole host of negative health effects - both physical and mental. It can be particularly devastating to your emotional and mental well-being. Although each of us is affected differently by economic troubles, these problems can add tremendous stress, which in turn can substantially increase the risk for developing such problems as: Depression/Anxiety/Compulsive Behaviors (over-eating, excessive gambling, spending, etc.)/Substance Abuse…

The irony of developing expensive habits - drugs, gorging on food, spending, gambling - as a response to first-world problems like “loss of investments” seems absolutely and completely lost. However, the site goes on to address some extremes, and suicide is a sensitive issue, so I don’t want to poke too much fun at this. In short, it’s only money, so please no one kill yourself.

We’re here to help, so feel free to reach out to us if you suffer from any or all of these symptoms: hoarding of canned SPAM and toilet paper; obsessive checking of portfolios, despite an all-cash allocation; desire to attend a neighbors’ “trade your gold jewelry for cash” party; recurring nightmares related to the country of Zimbabwe; weight gain, defended by a desire to become “too big to fail”; a persistent urge to put captions on the faces of politicians and executives. Kumbaya.

:rolleyes

http://www.drudgereport.com/wc.jpg GOVERNMENT WEBSITE TO WARN OF SADNESS/CRYING OVER ECONOMY (http://www.drudgereport.com/flashns.htm)

http://www.samhsa.gov/economy/

.....es scheint ja wirklich schlimm zu stehen um die Nation :rolleyes

lunar
31.03.2009, 15:34
Demeter http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/Demeter) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=131994) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=131994) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=131994) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=131994&level=three) Tue Mar-31-09 06:13 AM
Response to Original message (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3808202&mesg_id=3808202) 10. It's a bird...It's a plane...No, it's Spitzer to the Rescue By Mike Whitney
It's a bird...It's a plane...No, it's Spitzer to the Rescue By Mike Whitney

March 30, 2009 "Information Clearing House (http://www.informationclearinghouse.info/)" --- -If Obama is serious about restoring confidence in the markets, he should replace current SEC chief Mary Schapiro with Eliot Spitzer. That would send a message to the world that the president is through messing around. Schapiro is another Wall Street toady who believes that the markets can regulate themselves. As the head of the Financial Industry Regulatory Authority, or Finra, she stood by while the financial giants increased their leverage to unsustainable levels and spread their derivatives-contagion to every part of the system. Schapiro also missed the Madoff scandal, the auction-rate bond fraud, the blow up at Lehman Brothers, and the mortgage meltdown. She was blindsided at every turn. Her dismal performance as a private-sector regulator proves that she's the wrong person for the job. Even the far-right Wall Street Journal has lambasted Schapiro. In an article titled "Obama's pick to head SEC has record of being a Regulator with a Light Touch" the WSJ relays this revealing anecdote:

"The Financial Services Institute, a trade group, was meeting, and Ms. Schapiro addressed the crowd about Finra's efforts to fight frauds aimed at senior citizens. Frank Congemi, a financial adviser, asked what Finra was doing to regulate "packaged products" such as complex mortgage securities. Mr. Congemi says that Ms. Schapiro replied: "We have rating agencies that rate them." The credit-rating agencies, by this time, were being heavily criticized for having given triple-A ratings to mortgage bonds that became unsalable as foreclosures rose.

Mr. Congemi says that at the May 7 meeting he retorted: "What is that going to do to markets and people's trust when these things go to zero?" He says Ms. Schapiro replied that she couldn't answer hypothetical questions." (Wall Street Journal, Obama's pick to head SEC has record of being a Regulator with a Light Touch")

This story sums up Schapiro's laissez faire attitude perfectly; plenty of posturing and rhetoric with zero enforcement, another empty gourd. She's doomed to follow in the footsteps of her feckless predecessor, Christopher Cox, who stuck his head in the sand while the 5 biggest investment banks levered up to 30 to 1 and brought the whole global house of cards crashing to earth. Schapiro will undoubtedly torpedo any effort to police the markets or to bring charges against any of the Wall Street Godfathers.

And what is the SEC up to now? Where are the regulators and what steps have been taken to clean up Wall Street? Nothing. Just more blabbering. Obama hasn't changed a thing. Treasury is full of bank loyalists and the SEC is loaded with brokerage-friendly flunkies. The only difference is that the SEC's rubber stamp has been passed from laughingstock Cox to lapdog Schapiro. Other than that, it's business as usual.

If Spitzer was running the SEC, the Pinkertons would be swarming the investments houses right now, thumbing through the off-balance sheet paperwork, overturning filing cabinets and tasering bloated banksters as they scuttle away clutching their Armani briefcases stuffed with taxpayer loot.

The public is not in the mood for any more lame excuses or windy oratory from President Inspiration. Just get on with it. Governing is more than just gliding from one teleprompter to the next pointing at rainbows and promising Utopia. There has to be action, accountability, and justice......

full story: http://informationclearinghouse.info/article22312.htm


radfringe http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/radfringe) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=105069) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=105069) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=105069) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=105069&level=three) Tue Mar-31-09 07:18 AM
Response to Reply #10 (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3808202&mesg_id=3808218) 23. ...couldn't resist http://upload.democraticunderground.com/discuss/images/avatars/rainbowflag.gif http://images.icanhascheezburger.com/completestore/2009/3/7/128809315541997074.jpg

lunar
31.03.2009, 22:33
31 March 2009

Derivatives: the Heart of Financial Darkness (http://jessescrossroadscafe.blogspot.com/2009/03/derivatives-heart-of-darkness.html)


The heart of our financial crisis is reckless speculation with "too big to fail" funds by a relatively small group of US based money center banks.

There is sufficient circumstantial evidence from their concerted lobbying efforts to undo and resist regulation to show planning and forethought in what is an almost amazingly straightforward case of fiduciary and financial fraud. Many a blind eye was turned to the decline of the nation as it occurred, as the media and politicians and financial regulators were caught up in a seductive web of corruption.

The perpetrators are still in place, relatively unrestrained, and certainly not facing anything that might be called 'justice.'

Before there is any recovery, the banks must be once again restrained and balance restored to the economy and the financial system. The efforts of the Obama Administration are hopelessly ineffective, conflicted, and supportive of continuing losses.


The Prime Suspects

http://4.bp.blogspot.com/_H2DePAZe2gA/SdJv1tF5bsI/AAAAAAAAIxs/Pt6t2LqGIV8/s400/derivativesbanks.jpg (http://4.bp.blogspot.com/_H2DePAZe2gA/SdJv1tF5bsI/AAAAAAAAIxs/Pt6t2LqGIV8/s1600-h/derivativesbanks.jpg)

The Killing Field

http://1.bp.blogspot.com/_H2DePAZe2gA/SdJvvW0T58I/AAAAAAAAIxk/mkoACpkAy0A/s400/derivatives032909.png (http://1.bp.blogspot.com/_H2DePAZe2gA/SdJvvW0T58I/AAAAAAAAIxk/mkoACpkAy0A/s1600-h/derivatives032909.png)

The Wagers on Failure

http://2.bp.blogspot.com/_H2DePAZe2gA/SdJvsZRs0GI/AAAAAAAAIxc/A9udgfgSIn8/s400/cds032909.png (http://2.bp.blogspot.com/_H2DePAZe2gA/SdJvsZRs0GI/AAAAAAAAIxc/A9udgfgSIn8/s1600-h/cds032909.png)

The Wages of Speculation

http://4.bp.blogspot.com/_H2DePAZe2gA/SdJvnffO06I/AAAAAAAAIxU/jT5X6CRuTxQ/s400/derivativeschargeoff032909.png (http://4.bp.blogspot.com/_H2DePAZe2gA/SdJvnffO06I/AAAAAAAAIxU/jT5X6CRuTxQ/s1600-h/derivativeschargeoff032909.png)


Posted by Jesse at 3:31 PM (http://jessescrossroadscafe.blogspot.com/2009/03/derivatives-heart-of-darkness.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=7807341982810863482) :verbeug

lunar
31.03.2009, 22:41
Tue 31 Mar 2009

Protest Early And Often (http://lolfed.com/2009/03/31/protest-early-and-often/)

Posted by alyx under Uncategorized (http://lolfed.com/category/uncategorized/)
[2] Comments (http://lolfed.com/2009/03/31/protest-early-and-often/#comments)

http://lolfed.com/wp-content/uploads/tea-party-g20.jpg

Wish we were at the G20 - all kinds of excitement going on over there today, particularly outside the Bank of England. It started nicely with a tea party (http://www.guardian.co.uk/world/2009/mar/31/g20-summit-bank-protest):G20 protesters held a tea party outside the Bank of England today, kicking off demonstrations against the summit of world and financial leaders a day earlier than planned.

The group behind tomorrow’s G20 Meltdown protests sent Twitter messages urging demonstrators to meet at the Bank at 11am, bringing cake.

Around a dozen protesters gathered, spread out a picnic blanket, sipped tea and ate shortbread and cupcakes in a square in front of the bank.

One of the group, Michael Rainsbro, said: “We’ve to come to the Bank of England because it has presiding over an economic system that has given out Sir-Fred-[Goodwin]-style bonuses for years and years. We need a long-term change in our economy.”

The group also expressed a desire to “reclaim elevenses,” otherwise known as the right to take a few minutes out of your workday around eleven a.m. for tea and cookies, and I am with them on that, 100%. (What do you think I’m doing right now?)

Things got more exciting today, as the Bank of England got evacuated for a bomb threat (h/t to @MadameButcher (http://twitter.com/MadameButcher) as my heads-up), with FTAlphaville (http://ftalphaville.ft.com/) passing along this email sent by an overzealous security guard:Dear all,

Please be advised that a suspect vehicle is located within the Bank area, explosives within the vehicle have been identified. The police are in attendance and will carry out a controlled removal of this device.

I will continue to update you on further developments.

Kind regards

As it turned out, apparently by “explosives” he meant “a leftover box of tea biscuits,” but it served to create a lot of mayhem. Protesters have been unceremoniously evicted from their HQ; rumormongers continue to report scattered power outages, and wags suggest the explosion was an uncontrolled one, in their balance sheet.

For those less versed in international politics, Guardian has provided a handy Q&A to what G20 is and isn’t (http://www.guardian.co.uk/world/2009/mar/31/g20), including answers to important questions like: Why are there more than 20 countries in the G20? How many different G’s are there, anyway? Who the hell invited Argentina? At which strip clubs might you find Kevin Rudd? … and more.

CH beim G20 nicht dabei - ein CH-Kommentator meinte, dass sei wohl das Einzige auf das sich die Staaten einstimmig einigen konnten - als ob es keine anderen Sorgen gäbe als die Steuer :rolleyes:o

lunar
31.03.2009, 22:47
Netanyahu To Obama: Stop Iran, Or I Will (http://www.huffingtonpost.com/2009/03/31/netanyahu-to-obama-stop-i_n_181293.html)

Huffington Post | Stuart Whatley | March 31, 2009 01:02 PM

In an exclusive interview with The Atlantic's Jeffrey Goldberg Tuesday, just before he was sworn in as Israel's new prime minister, Benjamin Netanyahu issued a bold statement: if Obama does not stop Iran's nuclear program, Israel most certainly will. The assertion seems to confirm Netanyahu's own hawkishness, as well as the fears of US Middle East policymakers who support a more delicate approach to the region. From the interview account: (http://www.theatlantic.com/doc/200903u/netanyahu)

In an interview conducted shortly before he was sworn in today as prime minister of Israel, Benjamin Netanyahu laid down a challenge for Barack Obama. The American president, he said, must stop Iran from acquiring nuclear weapons--and quickly--or an imperiled Israel may be forced to attack Iran's nuclear facilities itself.
"The Obama presidency has two great missions: fixing the economy, and preventing Iran from gaining nuclear weapons," Netanyahu told me. He said the Iranian nuclear challenge represents a "hinge of history" and added that "Western civilization" will have failed if Iran is allowed to develop nuclear weapons.....

:rolleyes kann ja heiter werden :bad

lunar
01.04.2009, 09:09
Originally Posted by cloak and dagger
Obama Said to Conclude Bankruptcy Best Option for GM, Chrysler

By John Hughes

March 31 (Bloomberg) -- President Barack Obama has determined that a prepackaged bankruptcy is the best way for General Motors Corp. to restructure and become a competitive automaker, people familiar with the matter said.

Obama also is prepared to let Chrysler LLC go bankrupt and be sold off piecemeal if the third-largest U.S. automaker can’t form an alliance with Fiat SpA, said members of Congress who have been briefed on the subject and two other people familiar with the administration’s deliberations.

While Obama two days ago gave GM 60 days to come up with deeper cost and debt reductions than the biggest U.S. automaker proposed in a viability plan submitted last month, the “quick and surgical” bankruptcy his administration described as an option appears to be inevitable, the people said. Obama personally signed off on asking GM Chief Executive Officer Rick Wagoner to step down, as he did on March 29, they said.

“Our focus is on accelerating the speed of our operational restructuring and reducing liabilities and debt on the balance sheet,” GM spokeswoman Renee Rashid-Merem said in an e-mail. “GM will take whatever steps are necessary


There is no "quick and surgical " bankruptcy. Surgically the pensions will be removed and the medical benefits.MalcolmX would talk about Novacaine
Well your black Messiah will take care of it with his brand of Novacaine.
It will be so fast ,the old guys wouldn't know what hit them.
http://www.entertonement.com/clips/2...s-Roots-Part-5 (http://www.entertonement.com/clips/261/Malcolm-X/Message-To-The-Grass-Roots/Message-to-the-Grass-Roots-Part-5)
(http://www.entertonement.com/clips/261/Malcolm-X/Message-To-The-Grass-Roots/Message-to-the-Grass-Roots-Part-5)

lunar
01.04.2009, 09:14
BOJ's tankan business sentiment index worst than expected

By Myra P. Saefong
Last update: 8:04 p.m. EDT March 31, 2009

TOKYO (MarketWatch) -- The Bank of Japan's quarterly tankan survey showed that business sentiment among the nation's big manufacturing firms fell to negative 58 in the first quarter, down from the negative 24 seen in the fourth quarter of last year. The negative reading was reportedly the lowest level on record. Consensus expectations were for a reading of minus 55, according to poll conducted by Reuters. The Royal Bank of Scotland's Junko Nishioka expected a fall to negative 50. http://i.mktw.net/mw3/News/greendot.gif

http://i.mktw.net/mw3/community/images/btns/icons/site/comments.png(13) - View Comments on this story (http://www.marketwatch.com/news/story/japans-tankan-business-sentiment-index-comes/story.aspx?guid=%7B59EC4467%2D3794%2D4333%2D93EE%2D76769CE308E2%7D&siteid=bnbh#comments)

http://www.marketwatch.com/news/story/japans-tankan-business-sentiment-index-comes/story.aspx?guid={59EC4467-3794-4333-93EE-76769CE308E2}&siteid=bnbh#comments (http://www.marketwatch.com/news/story/japans-tankan-business-sentiment-index-comes/story.aspx?guid=%7B59EC4467-3794-4333-93EE-76769CE308E2%7D&siteid=bnbh#comments)

lunar
01.04.2009, 09:42
TESTING OBAMA (http://online.wsj.com/article/SB123854671487576275.html)

http://images.huffingtonpost.com/gen/72080/thumbs/r-OBAMA-TESTED-huge.jpg (http://online.wsj.com/article/SB123854671487576275.html)

China Calls For Global Currency To Replace Dollar... Russia Wants US To Back Off Range Of Policies.... France Threatens To Walk Out If Strict Regulations Aren't Adopted (http://online.wsj.com/article/SB123854671487576275.html)

lunar
01.04.2009, 09:46
http://www.huffingtonpost.com/2009/03/31/transatlantic-transformat_n_181418.html

....sie ist Spitze :) - ein :supi Paar zum ansehen :) das ist doch auch was ;)

lunar
01.04.2009, 09:50
G20: Economic snapshot


The leaders of the Group of 20, or G20, of the world's most powerful countries meet in London in April - and top of their agenda will be the global economic crisis.

G20 countries

http://news.bbc.co.uk/nol/shared/spl/hi/business/09/g20g7/img/key_g20.gif G20 members http://news.bbc.co.uk/nol/shared/spl/hi/business/09/g20g7/img/key_g7.gif G7 members Show country names
G20 nations
http://news.bbc.co.uk/nol/shared/spl/hi/business/09/g20g7/img/world_g20.gif G7 nations
http://news.bbc.co.uk/nol/shared/spl/hi/business/09/g20g7/img/world_g7.gif
http://news.bbc.co.uk/nol/shared/spl/hi/business/09/g20g7/img/world_g20_label.gif http://news.bbc.co.uk/nol/shared/spl/hi/business/09/g20g7/img/world_g7_label.gif
Click on the links below to find out more about the effects of the recession on each member state and how governments are trying to tackle their problems.

Argentina (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#argentina)
Australia (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#australia)
Brazil (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#brazil)
Canada (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#canada)
China (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#china)
France (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#france)
Germany (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#germany)
India (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#india)
Indonesia (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#indonesia)
Italy (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#italy)
http://newsimg.bbc.co.uk/shared/img/o.gif Japan (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#japan)
Mexico (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#mexico)
Russia (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#russia)
Saudi Arabia (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#saudiarabia)
South Africa (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#southafrica)
South Korea (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#southkorea)
Turkey (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#turkey)
United Kingdom (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#uk)
United States (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#usa)
European Union (http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm#eu)

http://news.bbc.co.uk/2/hi/in_depth/business/2009/g20/7897719.stm

lunar
01.04.2009, 09:52
Live: G20 Summit Build-up

http://newsimg.bbc.co.uk/media/images/45621000/jpg/_45621801_007105619-1.jpg

LIVE TEXT COMMENTARY (all times GMT+1)

http://news.bbc.co.uk/sol/shared/img/v4/icons/no_refresh.gifNo need to reload page, content below updates automatically. More info (http://news.bbc.co.uk/1/hi/help/7621801.stm)
Welcome to our live coverage of the build-up to the G20 summit in London, where world leaders are gathering in an attempt to agree solutions to the global economic crisis and protests are expected. We will be bringing you news, insights from BBC correspondents, some of your e-mails and Twitter, as well as the best of the blogs.
http://news.bbc.co.uk/2/hi/business/7973178.stm

lunar
01.04.2009, 09:57
....wahnsinnig dieser Aufwand :rolleyes leider nötig :(

Page last updated at 21:47 GMT, Tuesday, 31 March 2009 22:47 UK
President Obama's security bubble

By Max Deveson - BBC News, Washington
http://newsimg.bbc.co.uk/shared/img/999999.gif

You can take the man out of the White House. But you can't take the White House away from the man.

http://newsimg.bbc.co.uk/media/images/45617000/jpg/_45617587_beast_afp226b.jpg "The Beast" - the president's customised limousine

And US President Barack Obama has arrived in London for the G20 summit with a large contingent of the White House staff with him.

Hundreds of security guards, doctors, chefs and others are accompanying President Obama on his visit, and the entourage includes a number of presidential vehicles - including his new armour-plated limousine, The Beast, and aeroplane, Air Force One.

The 4,000 sq ft Boeing 747 is fully equipped for the president to work while he is in the air. The exercise-loving president will even be able to use the onboard gym to keep fit inflight.

The plane is fitted with some robust security equipment including shields to protect its instruments from an electromagnetic pulse. The communications equipment is even capable of withstanding radiation from a nuclear attack.

Blood supply

After landing at Stansted Airport in Essex, Mr Obama was ferried into the heart of London on Marine One, his personal VH-3D helicopter.

Marine One is capable of firing flares to divert heat-seeking missiles - and always flies as part of a convoy of identical decoy aircraft. His helicopter peels away at the last minute only when the convoy has reached its destination.

On the ground, the president rides around in The Beast, a brand new presidential limo finished earlier this year at a cost of $300,000 (£200,000)........

http://news.bbc.co.uk/2/hi/americas/7973274.stm

lunar
01.04.2009, 10:13
Obama: Dollar Illusion!
Von Michael Mross Mittwoch, 1. April 2009 In einem Aufsehen erregenden Interview mit dem US-Fernsehsender FOX-News gibt Präsident Barack Obama einen tiefgründigen Einblick ins Geldsystem: "Der Dollar ist nur eine Illusion" - eigentlich sei die US-Währung wertlos.

In der Sendung "60 Minutes" sollte der US-Präsident Rede und Antwort stehen zu den Ursachen der Finanzkrise und möglichen Lösungsmöglichkeiten. Doch die Journalistenrunde staunte nicht schlecht, als ihnen Obama mitteilte, dass die Krise tieferliegende Ursachen hätte, als manch einer annehmen würde.

Wörtlich führte Obama aus, dass die Subprime-Krise eigentlich kein amerikanisch-spezifisches Problem sei, sondern ein Problem des Geldsystems. Dieses beruhe darauf, dass durch Zinseszinseffekte immer mehr Schulden entstünden und infolge dessen immer mehr Schuldner gesucht werden mussten. Die logische Konsequenz sei deshalb, dass auch kreditunwürdigen Personen riesige Dollarbeträge ausgeliehen wurden. Wörtlich sagte Obama: "Unser Geld ist eine Illusion".



http://www.mmnews.de/index.php/200904012648/MM-News/Obama-Dollar-Illusion.html

Zum Original-Beitrag (http://showthread.php3?p=1230298#post1230298)
.....ein Reporter empört :kopf: "Wollen Sie damit sagen, dass die FED Geld aus dem Nichts schafft - während andere schwer dafür arbeiten müssen?"

"Genau so ist es" antwortete Obama. Aber er würde sich dafür einsetzen, dass es in Zukunft auch im Geldsystm ehrlicher zugehen würde. Es könne nicht angehen, dass Banken oder die Zentralbank Geld aus dem Nichts schafften während andere schwer dafür arbeiten müssten.

Der US-Präsident machte sich ausdrücklich stark für ein neuartiges Geldsystem, gab aber zu bedenken, dass dies eine ausserordentlich schwierige Angelegenheit sei. Der letzte Präsident, der dies versucht hätte, bezahlte dies mit seinem Leben. Obama: "Ich will nicht so enden wie Kennedy. Ich will wirklich etwas verändern. Wir müssen das System ändern. Yes, we can!"....... :eek


.....damit wird er sich ja viele Freunde schaffen :rolleyes und ausgerechnet bei FOX dieses Interview :o:D



Moin@all

Bitte beim Lesen unbedingt auf das Datum schauen:hihi

Zum Original-Beitrag (http://showthread.php3?p=1230342#post1230342)
:eek :rolleyes :dumm :o :hihi

lunar
01.04.2009, 10:19
http://images.mirror.co.uk/upl/m4/mar2009/9/7/kate-moss-top-shop-range-858772842_140x91.jpg (http://www.mirror.co.uk/celebs/news/2009/04/01/kate-moss-unveils-new-topshop-collection-inspired-by-mum-see-pics-115875-21243801/) Kate Moss unveils new Topshop collection inspired by mum - see pics (http://www.mirror.co.uk/celebs/news/2009/04/01/kate-moss-unveils-new-topshop-collection-inspired-by-mum-see-pics-115875-21243801/)

Kate Moss reveals her latest range of stunning designs for Topshop…...


(http://www.mirror.co.uk/celebs/news/2009/04/01/kate-moss-unveils-new-topshop-collection-inspired-by-mum-see-pics-115875-21243801/)
**************************************
.
http://images.mirror.co.uk/upl/m4/mar2009/1/5/jamie-oliver-pic-getty-768590944_140x91.jpg (http://www.mirror.co.uk/celebs/news/2009/04/01/jamie-oliver-will-get-baby-updates-while-cooking-for-world-leaders-at-no-10-115875-21244312/) Jamie Oliver will get baby updates while cooking for world leaders at No 10 (http://www.mirror.co.uk/celebs/news/2009/04/01/jamie-oliver-will-get-baby-updates-while-cooking-for-world-leaders-at-no-10-115875-21244312/)

Gordon Brown yesterday promised chef Jamie Oliver that he would be able to.. (http://www.mirror.co.uk/celebs/news/2009/04/01/jamie-oliver-will-get-baby-updates-while-cooking-for-world-leaders-at-no-10-115875-21244312/)
.
Pellkartoffeln wär doch was - die sollten sich auch langsam an eine schmälere Kost gewöhnen :o

lunar
01.04.2009, 10:24
London G20 analysis: The protest

Tuesday, 31, Mar 2009 12:00

By Ian Dunt

You get the kind of protest you deserve, and this week's demonstrations around the G20 are a case in point.

Police have launched one of the biggest public order operations in British history. And you can see why. With one demo outside the American embassy, taking place at the same time as environmentalists threaten to shut down a major London road, while anarchists congregate outside the Bank of England, police have their hands full. Wednesday will be a limitless logistical nightmare. Thursday, when protestors march right up to a conference centre housing the 20 most important men and women in the world, will probably prove equally tense.......

full story: http://www.politics.co.uk/analysis/policing-and-crime/london-g20-analysis-the-protest-$1284534.htm

lunar
01.04.2009, 14:22
.....heil Deutschland :klo .....es lebe der :kotz Überwachungsstaat

Brief kommt nach 12 Tagen zurück (Inhalt 3 kleine Tuben Salbe à 20g) Wert ca. €12 :rolleyes

von der Deutschen Post für die Zollabfertigung geöffnet :gomad:gomad nicht zulässig :gomad:gomad:gomad
bei uns ist diese Salbe in jedem Werbe-Reise-Apothekchen enthalten :cool welches die Apotheken oft vor den Ferien gratis verteilen :o


Was ist Vita-Merfen Salbe?

Vita-Merfen Salbe ist ein Präparat, das desinfiziert und den Heilungsprozess von kleinen Wunden aller Art (Schürf-, Riss- und Schnittwunden, Rhagaden, leichte, kleinflächige Verbrennungen (1. Grades) fördert.

Was ist der Nutzen von Vita-Merfen Salbe?

Vita-Merfen Salbe hat eine desinfizierende und heilende Wirkung.

Wie verwende ich Vita-Merfen Salbe?

Vita-Merfen-Salbe in dünner Schicht direkt oder mit Hilfe einer Kompresse auf die zu behandelnde Hautstelle auftragen. Bei nicht schmerzenden Verletzungen leicht einmassieren.

Was ist in Vita-Merfen Salbe enthalten?

1 g Vita-Merfen Salbe: 5 mg Chlorhexidinglukonat, 1 mg Benzoxoniumchlorid, 2000 I.E. Vitamin A, Wollfett, Wollwachsalkohole.


Packungsgrössen

Vita-Merfen Salbe:
20 g
40 g
100 g

Wo erhalte ich Vita-Merfen Salbe?

Rezeptfrei erhältlich in Ihrer Apotheke und Drogerie.

http://www.help.ch/googlesuche.cfm?suche=Vita-Merfen,%20Salbe

lunar
01.04.2009, 16:17
Zehntausende Menschen bei Kundgebungen gegen G20-Gipfel

Sonntag, 29. März 2009, 12:27 Uhr

Berlin/London (Reuters) - Mehrere Zehntausend Menschen haben am Samstag in Deutschland und anderen europäischen Ländern für eine gerechtere Weltwirtschaft demonstriert.

Unter dem Motto "Wir zahlen nicht für Eure Krise!" prangerten die Demonstranten in Berlin und Frankfurt die Milliardenhilfen der Regierungen für die Banken an. In London zogen fünf Tage vor dem Gipfel der 20 wichtigsten Industrie- und Schwellenländer Tausende Demonstranten unter dem Motto "Stellt die Menschen an die erste Stelle" durch das Regierungsviertel und die Innenstadt. Weitere Demonstrationen gab es in Wien, Rom und Paris. Mit Ausnahme von Berlin verliefen alle Proteste friedlich. In der deutschen Hauptstadt kam es vereinzelt zu Ausschreitungen, bei denen zahlreiche Randalierer festgenommen und zwölf Polizisten verletzt wurden.....

ganzer Artikel: http://de.reuters.com/article/topNews/idDEBEE52R05Z20090329

*******************************

Gewaltszenen beim G20-Protest

London (dpa) - Bei den Protesten gegen den G20-Gipfel in London gibt es Randale: Hunderte Demonstranten versuchten mit Gewalt in die Notenbank einzudringen. Die Polizei versuchte sie mit Schlagstöcken zurückzuhalten. Zahlreiche Demonstranten sind vor der Bank of England eingekesselt. Nach Angaben der BBC wurden bisher elf Menschen festgenommen. Insgesamt schätzt die Polizei die Zahl der Demonstranten im Bankenviertel auf 4000.

© sueddeutsche.de - erschienen am 01.04.2009 um 15:01 Uhr

lunar
01.04.2009, 17:40
April 1, 2009 -- Updated 1531 GMT (2331 HKT)

DEVELOPING STORY

Thousands protest ahead of G-20 (http://edition.cnn.com/2009/WORLD/europe/04/01/g20.london.protests/index.html)

Protesters break into a bank in London's financial district amid scuffles among anti-capitalists, anarchists and environmental campaigners marching ahead of the G-20 summit attended by world leaders. full story (http://edition.cnn.com/2009/WORLD/europe/04/01/g20.london.protests/index.html)

lunar
01.04.2009, 18:22
http://edition.cnn.com/video/

lunar
01.04.2009, 18:25
01.04.2009

G-20-PROTESTE IN LONDON

Gipfelgegner dringen in Bank ein

Sie skandieren "Stürmt die Bank" und "Schande über euch!": Wenige Stunden vor dem G-20-Gipfel blockieren Tausende Demonstranten die Londoner Innenstadt. Es kommt zu Ausschreitungen, Randalierer drangen in eine Filiale der Royal Bank of Scotland ein.


http://www.spiegel.de/politik/ausland/0,1518,616824,00.html

lunar
01.04.2009, 22:33
NY TIMES WHINES: IS OBAMA TRYING TO MUZZLE TRAVELING PRESS CORPS? (http://thecaucus.blogs.nytimes.com/2009/04/01/were-not-keeping-score-but/?pagemode=print)

http://images.huffingtonpost.com/gadgets/slideshows/1287/slide_1287_19177_large.jpg


http://www.huffingtonpost.com/images/v/slideshow/nav_left.gif (http://www.huffingtonpost.com/#)
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Obama and his wife Michelle, pose with Britain's Queen Elizabeth II and Prince Philip, during an audience at Buckingham Palace in London Wednesday.


hmmm.....ich dachte immer der Herr Prinzgemahl sei etwas höher :rolleyes:o;)

lunar
01.04.2009, 22:43
April 1, 2009
Franco-German demands upset G20 unity

Philippe Naughton

The leaders of France and Germany delivered a stunning ultimatum to Gordon Brown tonight when they demanded binding reform of world financial markets as the price of their support at tomorrow's G20 summit.

Nicolas Sarkozy and Angela Merkel made the comments at a joint press conference at which they promised that they would "speak with one voice" at the meeting in London's Docklands.

Having already scuppered Gordon Brown's plans for the summit to agree on a massive and coordinated fiscal stimulus, the two European heavyweights are demanding that it now move to do away with the "light-touch" Anglo-Saxon model of regulation blamed for the current economic crisis.......

ful story: http://www.timesonline.co.uk/tol/news/politics/G20/article6017461.ece

....dieses Paar ist etwas weniger ansehnlich :rolleyes

lunar
01.04.2009, 22:56
01 April 2009

SP Futures Hourly Chart Updated at Noon (http://jessescrossroadscafe.blogspot.com/2009/04/sp-futures-hourly-update-at-noon.html)

http://3.bp.blogspot.com/_H2DePAZe2gA/SdPNXDPVmII/AAAAAAAAIyk/T1wxCW01tr4/s400/TimferatuEurope.jpg (http://3.bp.blogspot.com/_H2DePAZe2gA/SdPNXDPVmII/AAAAAAAAIyk/T1wxCW01tr4/s1600-h/TimferatuEurope.jpg) Here are three views of the SP 500 Futures on an hourly basis.

Notice that in the 'big picture' there is still an inverse head and shoulders bottom that is an active formation.

The question is whether this downturn is a natural fallback from the obvious tape painting exercise that occurred for the end of quarter, or a trend change that will challenge the inverse bottom.

Time will tell. But since the real economy continues to deteriorate, albeit at a less shocking rate of decline, we doubt this very much unless the government begins to encourage monetary inflation with abandon.

So, our bias is to the downside but keep an open mind. We would expect a fresh decline to test the prior near term bottom at the very least, with an eye to the lows if that gives way.

One might conclude that the rally we have seen is just a 'back-kiss' to the bottom of the longer term uptrend channel which, if it fails, brings a very bearish cast to the charts indeed.

We have to add, in editorial fashion, that the Obama administration is a complete failure when it comes to putting the economy in order. This is because of the embedded thinking from Summers and Geithner and their backers at the big five money center banks.

There will be no recovery until the banks are restrained, made into banks once again, and speculation is wrung out of system to be replaced by productive efforts and the creation of real wealth.

We prefer to attribute bad results to incompetence rather than inappropriate motives, but we're keeping an open mind with regard to these jokers....

mt Charts ---> http://jessescrossroadscafe.blogspot.com/2009/04/sp-futures-hourly-update-at-noon.html

lunar
01.04.2009, 23:00
von DU - merci :) http://jessescrossroadscafe.blogspot.com/2009/04/sp-futures-hourly-update-at-noon.html

lunar
01.04.2009, 23:07
David Faber: Well Of Course AIG Is Being Used To Loot Taxpayers (AIG)

Joe Weisenthal (http://www.businessinsider.com/joe-weisenthal)|Apr. 1, 2009, 12:31 PM

During one of his segments this morning, David Faber decided to address a "blogosphere" rumor about AIG (AIG) being the root cause of the bank's profitability in Q1. He was referring to this (http://www.businessinsider.com/is-aig-why-the-banks-were-profitable-in-q1-2009-3) -- the allegation that AIG is unwinding its trades in a manner extremely generous to bank counterparties.

Faber's response: "Wish we'd mentioned that earlier, we certainly knew it." (via Karl Denninger (http://market-ticker.org/archives/920-Hoh-Hoh-CNBC-Admission%21.html))

http://www.businessinsider.com/david-faber-well-of-course-aig-is-being-used-to-loot-taxpayers-2009-4

lunar
02.04.2009, 11:11
...die Ka**e ist (weiterhin) am dampfen :o

THE BLAME GAME (http://www.huffingtonpost.com/2009/04/01/dems-investigating-bush-a_n_181868.html)

http://images.huffingtonpost.com/gen/72339/thumbs/r-AIG-COLLAPSE-huge.jpg (http://www.huffingtonpost.com/2009/04/01/dems-investigating-bush-a_n_181868.html)

House Panel Investigates Bush Administration Role In AIG Collapse... (http://www.huffingtonpost.com/2009/04/01/dems-investigating-bush-a_n_181868.html) GOP Doesn't Want Ex-CEO Greenberg Testifying... (http://thehill.com/leading-the-news/republicans-dont-want-ex-aig-chief-testifying-2009-04-01.html) Company Launches Pre-Emptive Strike, Attacks Greenberg's Credibility (http://www.propublica.org/article/aig-declares-war-on-former-ceo-401)

lunar
02.04.2009, 18:01
merci Vienna :)

1000-Milliarden-Spritze: G-20 haben sich geeinigt

Von Olivia Kühni. Aktualisiert um 15:33 Uhr 3 Kommentare (http://www.tagesanzeiger.ch/wirtschaft/konjunktur/1000MilliardenSpritze-G20-haben-sich-geeinigt/story/26239015#kommentar)

Die Staatschefs wollen am Weltfinanzgipfel ein Riesen-Konjunkturprogramm verabschieden, wie jetzt aus dem Verhandlungssaal sickerte. Die Abschlusserklärung scheint somit zum Maximalpaket zu werden.

1000 Milliarden Dollar sollen die Staatschefs der 20 Wirtschaftsmächte zusätzlich in das Weltfinanzsystem pumpen. Eine Summe, die «mit ihrer schieren Grösse» überrascht, wie die «Times» schreibt. Britische Medien sind es auch, die diese Informationen aus dem Verhandlungssaal soeben an die Öffentlichkeit getragen haben.

Laut der «Times» werde das Geld in drei Schritten ausgeschüttet. Als erstes sollen 100 Milliarden Dollar in den Welthandel gesteckt werden. 750 Milliarden Dollar sollen dem Internationalen Währungsfonds IWF zukommen, damit er schwächelnde Volkswirtschaften mit Krediten stützen kann. Der Rest des Geldes soll ebenfalls über den IWF eingesetzt werden, um Währungen zu stützen. So sollen die Staaten angeregt werden, ohne Angst vor Inflation zu investieren.

Mit dieser Nachricht aus London zeichnet sich ab, dass die Abschlusserklärung des Weltfinanzgipfels nicht einer Minimal-, sondern eine Maximallösung gleichkommt. Bereits bekannt wurde, dass die Forderung Deutschlands und Frankreichs nach einer internationalen Aufsichtsbehörde über Hedgefonds in die Abschlusserklärung übernommen werden soll. Mit dem angeblich beschlossenen Konjunkturprogramm erhalten also beide Seiten des Atlantiks, was sie wollen: Die USA mit ihrem Verbündeten Grossbritannien setzen Finanzspritzen durch, das alte Europa eine verstärkte Regulierung.

Nach wie vor offen ist, inwieweit sich Deutschland und Frankreich mit ihrer Forderung nach einer expliziten Nennung der Steueroasen durchsetzen. Sie sehen sich China und Grossbritannien gegenüber, die beide eine solche Liste ablehnen. (Tagesanzeiger.ch/Newsnetz)

http://www.tagesanzeiger.ch/wirtschaft/konjunktur/1000MilliardenSpritze-G20-haben-sich-geeinigt/story/26239015

lunar
02.04.2009, 21:51
Thu 2 Apr 2009

Goodie Bags From The G20 (http://lolfed.com/2009/04/02/goodie-bags-from-the-g20/)

Posted by alyx under Uncategorized (http://lolfed.com/category/uncategorized/)
[2] Comments (http://lolfed.com/2009/04/02/goodie-bags-from-the-g20/#comments)
http://lolfed.com/wp-content/uploads/having-a-wonderful-time.jpg

Ahhhhhh fiddling (http://www.youtube.com/watch?v=c71RCAyLS1M) while RBS burns (http://www.guardian.co.uk/world/2009/apr/02/g20-protests-london-rbs)…

Is anyone tired of hearing about the Queen’s iPod? Yeah, same here. Much like celebs on the red carpet, guests at the summit get gift bags as well, FTAlphaville found. The contents (http://ftalphaville.ft.com/blog/2009/04/02/54381/the-g20-goodie-bag):
After tomorrow’s dinner, Gordon Brown will present goodie bags that will showcase “British creativity”. They will include a tie designed by one of three British tailors (Ozwald Boateng, Timothy Everest and Richard James), a tea towel from Ulster-based linen producer Thomas Ferguson Irish Linen, Kelly Hoppen candles, and Rococo chocolates. What about those world leaders who don’t wear ties – German chancellor Angela Merkel, say, or Nehru-jacket-sporting Indian premier Manmohan Singh? Will they get an alternative gift? “I don’t know,” sighs a long-suffering No 10 spokesman. “I’ll get someone to call you back with that information.”

We’re hoping that a picture comes out of Angela Merkel after a couple drinks, donning the tie and perhaps a lampshade.

lunar
02.04.2009, 21:56
G-20-GIPFEL IN LONDON

Industriestaaten feiern Billionen-Kompromiss (http://www.spiegel.de/politik/ausland/0,1518,617122,00.html)

Sie feilschten und pokerten - und erklären sich am Ende alle zu Siegern: Die G-20-Staaten wollen die Wirtschaftskrise mit mehr als einer Billion US-Dollar bekämpfen. Auch auf Deutschland kommen neue Belastungen zu. US-Präsident Obama nutzte den Gipfel, um die Akteure der Weltbühne kennenzulernen. Von Carsten Volkery, London mehr... (http://www.spiegel.de/politik/ausland/0,1518,617122,00.html) [ Video (http://www.spiegel.de/video/video-59229.html) | Forum (http://forum.spiegel.de/showthread.php?t=6729) ]




http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifKrisenticker: Schweiz pocht auf Bankgeheimnis (manager-magazin.de) (http://www.manager-magazin.de/unternehmen/artikel/0,2828,616920,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifG-20-Gipfel in London: Industriestaaten pumpen eine Billion Dollar in die Märkte (http://www.spiegel.de/politik/ausland/0,1518,617092,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifUS-Ökonom Stiglitz: "Deutschland muss mehr tun" (http://www.spiegel.de/wirtschaft/0,1518,616745,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifMerkel und Obama: Dinner-Diplomatie in der Downing Street (http://www.spiegel.de/panorama/gesellschaft/0,1518,616934,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifSarkozy-Gastbeitrag: "Ein Scheitern würde uns die Geschichte nicht verzeihen" (http://www.spiegel.de/politik/debatte/0,1518,616707,00.html)

lunar
02.04.2009, 22:04
....das war ja fast ein Erdbeben was die Hofetikette anbetrifft :rolleyes:D

April 2, 2009
Queen and Michelle Obama - the story behind a touching moment

Valentine Low

When Michelle Obama put her arm round the Queen at Buckingham Palace, some of the more excitable elements of the media - particularly the Americans - suggested she may have been guilty of a breach of protocol....

http://www.timesonline.co.uk/tol/news/politics/G20/article6022502.ece

lunar
03.04.2009, 07:58
FRAUEN IN AFGHANISTAN

Gesetz regelt Sexualverkehr mit Ehemännern (http://www.spiegel.de/politik/ausland/0,1518,617118,00.html)
Entsetzen im Westen, Lob von den Taliban: Afghanistans Präsident Karzai hat ein Gesetz unterzeichnet, das Frauenrechte einschränkt - und Männern Herrschaftsrechte einräumt. Machtlos schaut die Welt auf einen Staatschef, der sich bei Fundamentalisten Wählerstimmen sichern will. Von Matthias Gebauer und Shoib Najafizada mehr... (http://www.spiegel.de/politik/ausland/0,1518,617118,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6377) ]


......"Die Frau ist verpflichtet, den sexuellen Bedürfnissen ihres Mannes jederzeit nachzukommen." Wenn der Mann nicht auf Reisen sei, habe er mindestens jede vierte Nacht das Recht auf Geschlechtsverkehr mit seiner Frau. Ausnahmen kämen nur bei Krankheiten der Frau in Frage. Ähnlich mittelalterlich hört sich auch Artikel 133 an. Darin ist festgehalten, dass Ehemänner ihre Frauen von jeder "unnötigen" Beschäftigung abhalten können. In vergleichbarem Ton sind auch viele andere Regeln verfasst. So müssen Frauen sich zunächst die Erlaubnis des Ehemannes einholen, wenn sie das Haus verlassen wollen: "Nur aus medizinischen oder rechtlichen Gründen kann die Frau das Haus ohne das Einverständnis des Ehemannes verlassen." Auch das Heiratsalter wird durch das neue Gesetz gesenkt: Schiitische Frauen können statt wie bisher mit 18 Jahren künftig mit 16 Jahren verheiratet werden.........

.....Tatsächlich dürfte der Grund für Karzais Unterschrift die baldige Präsidentschaftswahl sein, bei der der Amtsinhaber um seine Wiederwahl bangen muss. Außerhalb der Hauptstadt Kabul hat er nur wenig Einfluss, viele halten ihn für eine westliche Marionette, Erfolge hat er wenig vorzuweisen. Besonders in erzreligiösen Kreisen ist sein Rückhalt schwach - das Gesetz könnte ein Versuch sein, sein Image in dieser Wählergruppe aufzupolieren. Auch unter der bei den Wahlen wichtigen Volksgruppe der Hazara könnte das drastische Gesetz gut ankommen......

....ob es das ist was die Amis unter "Demokratie ins Land bringen" verstehen :confused:gomad jetzt rächen sich doch die Taliban und zeigen dem Westen wer das sagen hat und Herr Karzei scheint eine "RundumMarionette" zu sein :bad Menschenrechte - ein Hohn :gomad

lunar
03.04.2009, 08:34
......ja die Doppelmoral gilt eben in erster Linie für CH - sicher nicht für Herrn :bad Brown & Co. :o

20: Schweizer Presse bleibt nüchtern (http://www.tagesanzeiger.ch/schweiz/standard/G20-Schweizer-Presse-bleibt-nuechtern/story/21185984)

http://files.newsnetz.ch/story/2/1/1/21185984/8/teasermedium.jpg (http://www.tagesanzeiger.ch/schweiz/standard/G20-Schweizer-Presse-bleibt-nuechtern/story/21185984)

In der von Englands Premier Gordon Brown angekündigten neuen Weltordnung bleibe noch vieles vage, schreiben die Kommentatoren in Schweizer Medien – es herrscht Skepsis vor. Mehr... (http://www.tagesanzeiger.ch/schweiz/standard/G20-Schweizer-Presse-bleibt-nuechtern/story/21185984)

Aktualisiert um 06:38 Uhr





G-20-Gipfeltreffen in London (http://www.tagesanzeiger.ch/schweiz/standard/G20-Schweizer-Presse-bleibt-nuechtern/story/21185984)


Schweiz, Belgien, Luxemburg und Österreich auf der grauen Liste – :kotz Kanalinseln nicht :Prost

(http://www.tagesanzeiger.ch/ausland/europa/Schweiz-Belgien-Luxemburg-und-sterreich-auf-der-grauen-Liste--Kanalinseln-nicht/story/26821735)
Die Beschlüsse des G-20-Gipfels (http://www.tagesanzeiger.ch/schweiz/standard/Die-Beschluesse-des-G20Gipfels/story/15562479)

lunar
03.04.2009, 08:58
02.04.2009

G-20-GIPFEL IN LONDON

Industriestaaten feiern Billionen-Kompromiss

Von Carsten Volkery (carsten_volkery@spiegel.de), London

Sie feilschten und pokerten - und erklären sich am Ende alle zu Siegern: Die G-20-Staaten wollen die Wirtschaftskrise mit mehr als einer Billion US-Dollar bekämpfen. Auch auf Deutschland kommen neue Belastungen zu. US-Präsident Obama nutzte den Gipfel, um die Akteure der Weltbühne kennenzulernen.....

http://www.spiegel.de/politik/ausland/0,1518,617122,00.html

Deutschland....neue Belastungen.....Panuts :cool null Problem - dank der vielen nun wieder ehrlichen Steuerzahler welche die Kavallerie aufgegriffen hat :Prost

lunar
03.04.2009, 16:17
Fri 3 Apr 2009

America: F**k…No? (http://lolfed.com/2009/04/03/america-fkno/)

Posted by Jason under win (http://lolfed.com/category/win/)
1 Comment (http://lolfed.com/2009/04/03/america-fkno/#comments)
http://lolfed.com/wp-content/uploads/regulatin.jpg

And just like that, America surrendered its primacy in the financial world because of a “new reality” and “changing times,” opting for a zany policy of cooperation and multilateralism (http://www.bloomberg.com/apps/news?pid=20601087&sid=axEnb_LXw5yc&refer=home), at least as it pertains to economics. Like that’ll ever work. Just because other nations are becoming more and more relevant in an increasingly intertwined global financial system doesn’t mean we need to stop our long and storied policy of telling everyone else what to do just because we can.
“In a world that is as complex as it is, it is very important for us to be able to forge partnerships as opposed to simply dictating solutions,” Obama told a press conference at the conclusion of the summit.

Oh. Guess we will. But who do they think they are to stop taking orders from the US? We invented the subprime mortgage, the collateralized debt obligation, the credit default swap, the hedge fund, either deregulated or failed to regulate any of them, and…and…

Okay, I concede the point. Fine, so maaaaaaybe it is American-style finance that nearly destroyed capitalism and many of the countries that follow it. Hey, could have happened to anyone, right? I mean, who could have possibly predicted that allowing the banking system to operate pretty much the way it wanted could, in just over ten short years, take us from prosperity to near Bartertown? We’ll chalk this one up to experience.

So, out of this, we can expect at least a couple of generations’ return to trading the invisible hand of Adam Smith for the visible boot of John Maynard Keynes, because it turns out that he might have been onto something after all. Leaders at the conference all signed a solemn promise to start regulatin’ again, and that global free-market capitalism was doo-doo and anybody who believes in it is a great big stupid-head.

What did not come out of all this is everyone else going home and pushing through giant stimulus packages of their own, which might be smart since no one knows how ours is going to work out just yet.
In an effort to promote harmony, Obama soft-pedaled earlier U.S. demands that the summit agree on a specific target for fiscal stimulus in the face of opposition from France and Germany. Instead, he settled for a vague pledge that the leaders would do whatever it takes to revive the global economy.

You hear that? Whatever it takes. Even if it means killing a man.

Plans are also afoot (http://features.csmonitor.com/globalnews/2009/04/02/g-20-leaders-move-to-tighten-regulation/) to not let tax haven countries sit at the same lunchroom table with G-20 nations anymore if they don’t stop being tax haven countries. That, plus agreements in principle to limit compensation for bank executives and to start regulatin’ on hedge funds, has led just about everyone to call this year’s meeting a success, as opposed to previous years where US and UK leaders spent most of the week sitting in a corner, pointing at Angela Merkel and giggling into cupped hands.

:supi geschrieben :cool

lunar
03.04.2009, 21:47
Phil Gramm Owes America $2 Trillion

Submitted by meg on Fri, 04/03/2009 - 12:40pm. Analysis (http://www.buzzflash.com/articles/analysis) A BUZZFLASH NEWS ANALYSIS
by Meg White

In tough times such as these, it can be comforting to slip into nostalgia and fantasy, which has got me thinking about Congress in late 1999. Lawmakers were falling all over themselves praising the passage of the landmark Gramm-Leach-Bliley Act, which effectively repealed much of the Glass-Steagall regulations on financial institutions coming out of The Great Depression.

http://www.buzzflash.com/articles/files/Fairey%20on%20treasury.jpg

Former Sen. Phil Gramm (http://www.gophypocrites.com/2008/07/hyp08029.html) (R-TX), the main architect of the legislation, expressed fatherly pride in the bill in his floor speech (http://banking.senate.gov/prel99/1104sta.htm) at the time (recently brought to our attention by a BuzzFlash reader):

"The question is, 'How will it look 50 years from now when it has gone from infancy to maturity?' Obviously, after setting out a dramatic change in public policy, it is fair to set out a test for determining its success," Gramm said. "Ultimately, the final judge of the bill is history. Ultimately, as you look at the bill, you have to ask yourself, 'Will people in the future be trying to repeal it, as we are here today trying to repeal -- and hopefully repealing -- Glass-Steagall?' I think the answer will be no. I think it will be no because we are doing something very different from Glass-Steagall. Glass-Steagall, in the midst of the Great Depression, thought government was the answer. In this period of economic growth and prosperity, we believe freedom is the answer."

Thankfully, we didn't have to wait 50 years to find out what history would say about Gramm's "dramatic change in public policy." It only took a decade for our financial industry to show the weakness of his extremist deregulation argument.

The fantasy ingredient of my coping mechanism cocktail has to do with who the media and the American people could have listened to at the time. Reading The New York Times article (http://www.nytimes.com/1999/11/05/business/congress-passes-wide-ranging-bill-easing-bank-laws.html?sec=&pagewanted=1) published when the act passed, you get the idea that the people who were opposed to this legislation were just downers that didn't want banks to make money:The opponents of the measure gloomily predicted that by unshackling banks and enabling them to move more freely into new kinds of financial activities, the new law could lead to an economic crisis down the road when the marketplace is no longer growing briskly.

''I think we will look back in 10 years' time and say we should not have done this but we did because we forgot the lessons of the past, and that that which is true in the 1930's is true in 2010,'' said Senator Byron L. Dorgan, Democrat of North Dakota. ''I wasn't around during the 1930's or the debate over Glass-Steagall. But I was here in the early 1980's when it was decided to allow the expansion of savings and loans. We have now decided in the name of modernization to forget the lessons of the past, of safety and of soundness.''
*Emphasis mine

Dorgan's comment here is remarkably prescient. What would have happened if we had better heeded his warning?.....

........In other words, we should return to the day before Gramm-Leach-Bliley. Basically what Brooks is saying here is that no matter who you believe about the origins of this mess, it's clear that something needs to be done about breaking up these giants of the financial industry. Maybe if we had forced AIG to just insure stuff instead of heading off to the casino, things would be more stable right now. But perhaps instead of fantasy and nostalgia, I should be counting my blessings. Congress seems poised to pass legislation to better regulate the runaway financial industry.

And things could have been much worse. After all, had McCain won the presidency (http://www.buzzflash.com/articles/analysis/462) in November, it was widely speculated that he would have named Gramm as his treasury secretary (http://www.usnews.com/blogs/capital-commerce/2008/4/18/gramm-speaks-the-views-of-our-next-maybe-treasury-secretary.html). Now that's a scary thought. (Gott behüte :rolleyes)

A BUZZFLASH NEWS ANALYSIS


full story: http://www.buzzflash.com/articles/analysis/696

lunar
04.04.2009, 09:21
Pantless Protesters During Obama's NATO Meeting (SLIDESHOW, NSFW) (http://www.huffingtonpost.com/2009/04/03/pantless-protesters-durin_n_182968.html)

Huffpost - Pantless Protesters During Obama's NATO Meeting (SLIDESHOW, NSFW (http://www.huffingtonpost.com/2009/04/03/pantless-protesters-durin_n_182968.html#)huffington_post:http://www.huffingtonpost.com/2009/04/03/pantless-protesters-durin_n_182968.html

AP/Huffington Post | April 3, 2009 at 05:54 PM

http://images.huffingtonpost.com/gen/72731/thumbs/s-PANTLESSPROTESTS-large.jpg

Police in France and Germany encountered small, scattered and peaceful protests Friday in a marked change from the violent clashes that marred the eve of NATO's 60th-anniversary summit.

The scene on the German side of the Rhine River in Kehl and Baden-Baden, where President Barack Obama and Angela Merkel were meeting, was far calmer than the previous night's scene in Strasbourg, France.

Some of these protesters decided to go pantless to help prove their points.....
http://images.huffingtonpost.com/gadgets/slideshows/1313/slide_1313_19327_large.jpg


full story: http://www.huffingtonpost.com/2009/04/03/pantless-protesters-durin_n_182968.html

lunar
04.04.2009, 09:22
Der Goldene Schuss


http://www.spiegel.de/wirtschaft/0,1518,617151,00.html

Zum Original-Beitrag (http://showthread.php3?p=1231027#post1231027)
:supi merci Hoka :)

Die G-20-Staaten bekämpfen die Krise, indem sie die nächste vorbereiten: Mit neuen Billionen auf Pump soll die Weltwirtschaft angekurbelt werden. Das offizielle Gipfelmotto lautete Stabilität/Wachstum/Arbeitsplätze - das wahre müsste heißen: Verschuldung/Arbeitslosigkeit/Inflation......

...wie gehabt :rolleyes:o

lunar
04.04.2009, 09:34
Pictures From a Monetary Bubble (http://jessescrossroadscafe.blogspot.com/2009/04/pictures-from-monetary-bubble.html)


Credit bubbles are very much like pyramid, or Ponzi, schemes.

http://3.bp.blogspot.com/_H2DePAZe2gA/SdZpSXMRzkI/AAAAAAAAI00/GYGt67PJw-E/s400/weimar2.jpg (http://3.bp.blogspot.com/_H2DePAZe2gA/SdZpSXMRzkI/AAAAAAAAI00/GYGt67PJw-E/s1600-h/weimar2.jpg)

The middle class is particularly hard hit as they exchange their remaining real assets in an increasingly corrupted financial system. They are dulled by falling from crisis to crisis. We seem to be at the stage where the wealth transfer from the many to the few has it last parabolic gasp before the collapse.

http://2.bp.blogspot.com/_H2DePAZe2gA/SdZpPfS4NjI/AAAAAAAAI0s/5wDRQF_73Qk/s400/may262008_1.jpg (http://2.bp.blogspot.com/_H2DePAZe2gA/SdZpPfS4NjI/AAAAAAAAI0s/5wDRQF_73Qk/s1600-h/may262008_1.jpg)

All turns to ashes, one way or the other, when we abandon our commitment to justice and the truth, with things as they really are.

http://2.bp.blogspot.com/_H2DePAZe2gA/SdZpMqlPtcI/AAAAAAAAI0k/e87_9MttWew/s400/Inflation-1923.jpg (http://2.bp.blogspot.com/_H2DePAZe2gA/SdZpMqlPtcI/AAAAAAAAI0k/e87_9MttWew/s1600-h/Inflation-1923.jpg)





Posted by Jesse at 3:10 PM (http://jessescrossroadscafe.blogspot.com/2009/04/pictures-from-monetary-bubble.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=6929361297485393893) :verbeug

lunar
04.04.2009, 09:36
03 April 2009

The Credit Bubble Was a Ponzi Scheme Enabled by the US Dollar (http://jessescrossroadscafe.blogspot.com/2009/04/credit-bubble-was-ponzi-scheme-enabled.html)


They say a picture is worth a thousand words.

Here is a picture of the US credit bubble, with the deleveraging which has just begun.

It is/was a Ponzi scheme, enabled by the advantages of controlling the reserve currency of the world, pure and simple.

http://1.bp.blogspot.com/_H2DePAZe2gA/SdZkcNI0JjI/AAAAAAAAI0E/2ktnCxjEGss/s400/householddebtqtrly032509.png (http://1.bp.blogspot.com/_H2DePAZe2gA/SdZkcNI0JjI/AAAAAAAAI0E/2ktnCxjEGss/s1600-h/householddebtqtrly032509.png)

It was the US dollar that was monetized, or more specifically US debt obligations, which are now substantially worthless and will have to take a significant haircut in real terms. This is similar to the Japanese experience in which they monetized their real estate.......

full story: http://jessescrossroadscafe.blogspot.com/2009/04/credit-bubble-was-ponzi-scheme-enabled.html

Hoka
04.04.2009, 20:37
Katerstimmung in Bern nach dem G-20-Gipfel


...

Obschon siebtgrösster Finanzplatz der Welt, wird die Schweiz allein kaum etwas gegen diese seltsame Einteilung in gute und böse Staaten unternehmen können. Doch es gibt andere Staaten, die auch nicht der G-20 angehören – exakt 172, wenn man den Vatikan nicht mitzählt. Die Bemühungen, ein Gegengewicht zur G-20 zu bilden und deren «double standards» in Steuerfragen anzuprangern, sind allerdings noch jung. Die Schweiz kooperierte bisher vor allem mit Österreich und Luxemburg, und auch dies nur punktuell. Die Länder mit striktem Bankgeheimnis waren Konkurrenten, jetzt ist der Gegner in der Karibik, im Ärmelkanal oder in Südostasien. Weil die Schweiz jetzt das Bankgeheimnis lockert, kann sie künftig breitere Allianzen eingehen, um die eigenen Interessen zu verteidigen. Die Gefahr, dass die grossen Staaten unter dem Deckmantel von Regulierungs- und Stabilisierungsmassnahmen ihrer eigenen Wirtschaft Vorteile verschaffen, besteht nicht nur beim Bankgeheimnis.
...

http://www.nzz.ch/nachrichten/schweiz/katerstimmung_in_bern_nach_dem_g-20-gipfel_1.2324471.html

Die Schweiz sollte besser das Gold des IWF übernehmen und dafür den US-Müll abstossen, von welchem sie mehr als genug hat. http://www.stock-channel.net/stockselect/stock-board/images/smilies/rolleyes.gif

http://www.moneymorning.com/images2/foreigncreditors.GIF

http://www.moneymorning.com/2009/03/25/china-us-debt/

lunar
05.04.2009, 12:03
Der Weg des größten Schmerzes... Datum 03.04.2009
.......Das einzig Erfreuliche, das mir dazu einfällt: Wenn jetzt Finanzmarktüberwachung flächendeckend und auf internationaler Ebene eingeführt wird, dann ist das sehr zu begrüßen......

Zum Original-Beitrag (showthread.php3?p=1231074#post1231074)
.....wie lässt sich denn das einzig Erfreuliche mit dem vereinbaren :confused:rolleyes

Wie die amerikanischen Banken ihre eigene Rettung torpedieren
Sebastian Bräuer, New York

Die Bankenlobby hat gesiegt :rolleyes
Künftig dürfen die Banken Wertpapiere ohne Markt nach eigenen Modellen bewerten. Die Anleger haben noch mehr Grund, den Bilanzen der Banken zu misstrauen.... :dumm

(leider kein Link) NZZ am Sonntag vom 5. April

lunar
05.04.2009, 12:08
Mitarbeiterkontrolle: Lidl führte geheime Krankenakten über Mitarbeiter (http://www.spiegel.de/wirtschaft/0,1518,617347,00.html)

Der Fall wurde durch einen Zufallsfund in einer Mülltone bekannt: Der Discounter Lidl hat die Krankheiten von Mitarbeitern laut SPIEGEL-ONLINE-Informationen in firmeninternen Unterlagen festgehalten - obwohl das arbeitsrechtlich bedenklich ist. Datenschützer reagieren empört. Von Susanne Amann und Markus Grill mehr... (http://www.spiegel.de/wirtschaft/0,1518,617347,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6777) ]

....das musste jetzt auch noch nach CH kommen - :kotz Lidl

lunar
05.04.2009, 12:31
Etwas in der Luft Keiner analysiert, beschreibt und versteht Parfüms besser als Luca Turin. Ein Gespräch mit «Der Nase»


03.04.2009 von Johanna Adorján (http://dasmagazin.ch/index.php/author/johanna-adorjan/)

Sie haben den ersten Parfüm-Führer überhaupt geschrieben: «Perfumes — The Guide». Fast 1500 Parfüms werden darin in Kurzrezensionen vorgestellt und mit einem Stern («awful») bis fünf Sternen («Masterpiece») benotet. Sie und Ihre Ko-Autorin Tania Sanchez, die gleichzeitig Ihre Frau ist, haben dabei eine Sprache für etwas gefunden, das ich immer für unbeschreiblich hielt: Gerüche.......

.....Über mehrere berühmte Parfüms schreiben Sie, die seien durch ihre Überarbeitung heute tot. «Vent Vert» zum Beispiel, «Fahrenheit», «L’Air du Temps»…
…und viele mehr. Es ist wirklich traurig. «Vent Vert» war einmal so ein wunderbarer Duft, aber heute erkennt man ihn nicht wieder. Er ist zu Tode überarbeitet worden. Dieselbe Flasche, derselbe Name, aber es ist ein vollkommen anderer und viel schlechterer Duft. Das Original findet man nur noch im Internet. «Fahrenheit» ist vielleicht ein kleinerer Verlust für die Menschheit, aber auch das war einmal ein interessanter Duft. Er erhielt allerdings eine grosse Anzahl von Molekülen, die einigen Menschen Kopfschmerzen verursachten, weshalb sie verboten wurden. «Diorissimo» ist auch am Ende. Wahrscheinlich sind alle Parfüms, die Chypre beinhalten, bis Ende nächsten Jahres verboten, weil Eichenmoos, eins der Inhaltsstoffe, als Allergen eingestuft wurde. Dazu gehört auch «Mitsouko».

Das grösste Parfüm aller Zeiten wird verboten?
Ab Juni wird es nicht mehr in seiner bisherigen Form zu kaufen sein. Der 1. Juni 2009 bedeutet das Ende der Zivilisation, wie wir sie kennen. Das ist, als würde man die Farbe Grün für Gemälde verbieten. Mehr als das: als würde man die Farbe Grün aus allen Gemälden von Piero della Francesca entfernen. Ob heute neue Meisterwerke geschaffen werden oder nicht, ist mir vollkommen egal — aber Leonardo da Vinci sollte man nicht anrühren. Und wenn diese Schmocks so weitermachen, ist das erst der Anfang. Es mag Klavierkonzerte für eine Hand geben, aber keine, die man ohne Hand spielen kann.

ganzer Artikel: http://dasmagazin.ch/index.php/etwas-in-der-luft/

.....ich finde diesen Artikel :supi :cool aber diese EU kann mir bald gestohlen werden, überall Vorschriften, Einschränkungen - teilweise einfach lächerlich und nur noch ärgerlich - und das alles verbunden mit einem riesigen Kostenaufwand :dumm :bad jeder Hauch von Individualität wird abgemurkst :bad

lunar
05.04.2009, 12:44
CBO: Bailout Will Cost Taxpayers $167 Billion More Than First Thought (http://www.huffingtonpost.com/2009/04/04/estimate-says-bailout-wil_n_183189.html)



Quick Read (http://www.huffingtonpost.com/2009/04/04/estimate-says-bailout-wil_n_183189.html) |
Comments (168) (http://www.huffingtonpost.com/2009/04/04/estimate-says-bailout-wil_n_183189.html)
| The Bailouts (http://www.huffingtonpost.com/news/bailout)
....ein paar Billiönchen mehr oder weniger - who cares :o:bad

lunar
05.04.2009, 17:41
5. April 2009, NZZ am Sonntag

«Mich verblüfft diese grassierende Staatsfrömmigkeit»

Der Schriftsteller Thomas Hürlimann wundert sich

Der Schriftsteller Thomas Hürlimann spricht über die schwierigen Nachbarn Schweiz und Deutschland, Peer Steinbrück, die Bankenkrise und seine Wahlheimat Berlin. Mehr als über Kraftmeiereien deutscher Politiker ärgert er sich über die schweizerische Aussenpolitik, die durch Abwesenheit glänzt.


NZZ am Sonntag: Ein grossmäuliger deutscher Minister sagt zwei dämliche Sätzchen, und die ganze Schweiz steht kopf – was geht hier vor?

Thomas Hürlimann: Diese Sätze waren nur der Tropfen, der das Fass zum Überlaufen brachte. Schon vorher gab es eine Stimmung gegen die Schweiz als «Steuerfluchtoase»......

.....Steinbrück hat nur verbal gekraftmeiert. Die USA haben real gedroht, und die Schweiz hat daraufhin flugs das Recht gebogen. Sie wurde wie eine Bananenrepublik behandelt und hat sich auch als solche verhalten. Das war eine Totalkapitulation. Momentan haben wir nicht nur eine schlechte Aussenpolitik – wir haben überhaupt keine......

....Auch das Bankgeheimnis müsste man hierzulande von seinen Anfängen her erklären. Es wurde 1934 auch gegen antisemitische deutsche Steuerfahnder installiert. Nur: Von dieser Tradition hat sich das Gebaren der Banken weit entfernt, und so verliert man sich beim Erklären in Ambivalenzen....

.....Zur Ignoranz gehört auch, dass selbst Journalisten kaum wissen, dass die Schweiz auf hinterzogenem Geld eine Quellensteuer erhebt und diese an Herrn Steinbrück überweist.

Das ist ebenfalls ein Versagen der Schweizer Aussenpolitik. Jedes andere Land würde solche Wissensdefízite sofort beheben. Auch dieser Fall zeigt: Unser System funktioniert nur nach innen. Da gibt es tausend Möglichkeiten zur Korrektur. Immer wieder beerdigt das Volk die Irrtümer der Politiker. Wäre es nicht so, hätte Zürich statt des Limmatquais eine Autobahn.

.......Zwischen 1933 und 1945 haben die Stimmbürger praktisch keinen Fehler gemacht – abgesehen von der Ablehnung des Frauenstimmrechts. Der Widerstandsgeist war im Volk bedeutend stärker als im Generalstab oder im Bundesrat....

....Die direkte Demokratie unterscheidet uns sehr wohl von den andern Nationen. Dort dürfen die Wähler alle vier Jahre mal an die Urnen. Wir politisieren von unten nach oben. Das ist immer noch eine revolutionäre Idee.

Entspricht der deutschen Ignoranz gegenüber der Schweiz nicht eine schweizerische Herablassung gegenüber Deutschland: Die haben ja noch nicht mal im eigenen Land etwas zu sagen?.....

.....Wir geben dem Staat möglichst wenig, während die Deutschen dem Staat viel geben, um noch viel mehr von ihm zu bekommen. Des Deutschen Traum ist es, auf jeden Steuer-Euro vom Staat zwei zurückzubekommen.....

ganzer Artikel: http://www.nzz.ch/nachrichten/kultur/aktuell/mich_verbluefft_diese_grassierende_staatsfroemmigkeit_1.2329731.html

.....es lebe der kleine Unterschied :bang

lunar
06.04.2009, 11:04
05 April 2009

Congressional Watchdog to Drop a Bombshell on the US Financial Industry (http://jessescrossroadscafe.blogspot.com/2009/04/elizabeth-warren-to-drop-bombshell-on.html)


http://1.bp.blogspot.com/_H2DePAZe2gA/SdkR2u1HloI/AAAAAAAAI1Q/AlGIANkiOe4/s400/bankersangst.JPG (http://1.bp.blogspot.com/_H2DePAZe2gA/SdkR2u1HloI/AAAAAAAAI1Q/AlGIANkiOe4/s1600-h/bankersangst.JPG)
"...set to call for shareholders in those institutions to be wiped out. 'It is crucial for these things to happen...'"How about a stiff haircut for the bondholders and defaults on the credit default swaps held by JP Morgan and Goldman Sachs?

It will be most interesting to see how Tim Geithner and Larry Summers respond to this advice from Congressional oversight.


The Guardian UK (http://www.guardian.co.uk/business/2009/apr/05/useconomy-regulators)
US watchdog calls for bank executives to be sacked
James Doran in New York
The Observer,
Sunday 5 April 2009

Elizabeth Warren, chief watchdog of America's $700bn (£472bn) bank bailout plan, will this week call for the removal of top executives from Citigroup, AIG and other institutions that have received government funds in a damning report that will question the administration's approach to saving the financial system from collapse.

Warren, a Harvard law professor and chair of the congressional oversight committee monitoring the government's Troubled Asset Relief Program (TARP), is also set to call for shareholders in those institutions to be "wiped out". "It is crucial for these things to happen," she said. "Japan tried to avoid them and just offered subsidy with little or no consequences for management or equity investors, and this is why Japan suffered a lost decade."

She declined to give more detail but confirmed that she would refer to insurance group AIG, which has received $173bn in bailout money, and banking giant Citigroup, which has had $45bn in funds and more than $316bn of loan guarantees.

Warren also believes there are "dangers inherent" in the approach taken by treasury secretary Tim Geithner, who she says has offered "open-ended subsidies" to some of the world's biggest financial institutions without adequately weighing potential pitfalls. "We want to ensure that the treasury gives the public an alternative approach," she said, adding that she was worried that banks would not recover while they were being fed subsidies. "When are they going to say, enough?" she said.

She said she did not want to be too hard on Geithner but that he must address the issues in the report. "The very notion that anyone would infuse money into a financially troubled entity without demanding changes in management is preposterous."

The report will also look at how earlier crises were overcome - the Swedish and Japanese problems of the 1990s, the US savings and loan crisis of the 1980s and the 30s Depression.

"Three things had to happen," Warren said. "Firstly, the banks must have confidence that the valuation of the troubled assets in question is accurate; then the management of the institutions receiving subsidies from the government must be replaced; and thirdly, the equity investors are always wiped out."




Posted by Jesse at 3:47 PM (http://jessescrossroadscafe.blogspot.com/2009/04/elizabeth-warren-to-drop-bombshell-on.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=7480105573707201121) :verbeug

....muss erst genau lesen (mist - einfach momentan zeitlicher Stress :mad) scheint aber was im Busch zu sein - hoffentlich trifft's mal die richtigen Mistkerle :o

lunar
06.04.2009, 11:11
Sun 5 Apr 2009

In Case Of “OMG,” Geithner Readies The “GTFO” (http://lolfed.com/2009/04/05/in-case-of-omg-geithner-readies-the-gtfo/)

Posted by alyx under Timmay (http://lolfed.com/category/timmay/) , all ur bankz (http://lolfed.com/category/all-ur-bankz/)
[3] Comments (http://lolfed.com/2009/04/05/in-case-of-omg-geithner-readies-the-gtfo/#comments)


Could there be trouble brewing for the leadership at America’s failbanks if they need to fall back yet again on the government teat? Tim Geithner hit “Meet the Press” this morning and said that bank CEOs should note the boot-marks on Wagoner’s ass carefully (http://online.wsj.com/article/SB123894739672790347.html#mod=rss_whats_news_us):
Treasury Secretary Timothy Geithner said the federal government might remove top bank executives or board members if “exceptional” assistance is required to keep the banks operating in the future.

“When in the future — or I would say, if in the future — banks need exceptional assistance in order to get through this, then we’ll make sure that assistance comes with conditions, not just to protect the taxpayer, but to make sure this is the kind of restructuring necessary for them to emerge stronger,” Mr. Geithner said on CBS’s “Face the Nation.” “Where that requires a change of management and the board, we will do that.”

Haha! If! (Our money is, of course, on when.) And somewhere, I am sure, Larry Kudlow is in the middle of preparing a lonely defense of Bandit and Kennay, lamenting that the best path to free-market capitalism is to give the banks massive wads of cash without mandating any leadership changes. Geithner also went on to indicate that he wasn’t done yet and that he and Obama may ask for yet another stimulus, so if you are of the goldbug mindset, tuck another bar or two under the bed. ;)


(h/t to reader Paige L. for the image, which I could not wait to use!)

lunar
06.04.2009, 11:15
KATASTROPHE IN ITALIEN :(

Angehörige graben mit bloßen Händen nach Erdbebenopfern (http://www.spiegel.de/panorama/0,1518,617556,00.html)

Jede Minute zählt: Im mittelitalienischen Erdbebengebiet werden noch viele Menschen in zerstörten Häusern vermisst, Angehörige tragen Schutt mit den Händen ab. Bisher wurden 27 Tote geborgen, Tausende sollen obdachlos sein - ein Experte hatte vor dem Beben gewarnt. mehr... (http://www.spiegel.de/panorama/0,1518,617556,00.html) [ Video (http://www.spiegel.de/video/video-59667.html) ]



http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifMittelitalien: Mehrere Tote bei Erdbeben http://www.spiegel.de/static/sys/v8/icons/ic_spiegel_tv.gif (http://www.spiegel.de/video/video-59667.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifErdbeben in Italien: L'Aquila, Universitätsstadt der Abruzzen (http://www.spiegel.de/reise/europa/0,1518,617595,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifFotostrecke: Mit bloßen Händen gegen die Trümmer (http://www.spiegel.de/fotostrecke/fotostrecke-41282.html)

lunar
06.04.2009, 11:18
BEARING WITNESS (http://www.huffingtonpost.com/2009/04/05/media-allowed-to-witness-_n_183346.html)

Media Cover Return Of U.S. War Dead For First Time In 18 Years (http://www.huffingtonpost.com/2009/04/05/media-allowed-to-witness-_n_183346.html)







Quick Read (http://www.huffingtonpost.com/2009/04/05/media-allowed-to-witness-_n_183346.html) |
Comments (367) (http://www.huffingtonpost.com/2009/04/05/media-allowed-to-witness-_n_183346.html)
einer davon: This is what Bush wanted to keep from the public because he knew if you saw this over 4000 times the war would have ended years ago.

Hoka
06.04.2009, 17:34
Sankt Josef von Mels

Nachher: Josef Ackermann, der anständige Manager. Seine Kritik an der Banker- und Boni-Kultur, verbunden mit einem relativen Erfolg der Deutschen Bank, machen Ackermann wieder zu einer ernst genommenen Stimme. Im Bild: Ackermann mit dem Benediktiner-Primas Notker Wolf bei einer Podiumsdiskussion, März 2009.

...

http://www.tagesanzeiger.ch/wirtschaft/unternehmen-und-konjunktur/Sankt-Josef-von-Mels/story/15710616

http://www.stock-channel.net/stockselect/stock-board/images/smilies/biggrin.gif

Hoka
06.04.2009, 17:54
Bank Losses To Exceed Great Depression -Calyon's Mayo

...
Mayo said loan losses for U.S. banks will likely increase to 3.5% from 2% by the end of 2010, due to ongoing problems in mortgage loans and increasing deterioration in credit cards and consumer, construction, commercial real estate and industrial loans. Under a stress scenario, loan losses could reach as high as 5.5%, Mayo said, compared with the 3.4% loss rate reached in 1934.

Loans Not Marked Down Enough
Mayo titled his report "Seven Deadly Sins of Banking," and listed them as "greedy loan growth, a gluttony of real estate, lust for high yields, sloth-like risk management, pride of low capital, envy of exotic fees, and anger of regulators."

He said that the government won't be able to quickly resolve problem loans, which he said had only been marked by the banks that hold them to 98 cents on the dollar.


...


http://online.wsj.com/article/BT-CO-20090406-707995.html

lunar
06.04.2009, 22:50
US Recovery Is Far Off, Banks Are 'Basically Insolvent': Soros

By: Reuters | 06 Apr 2009 | 02:57 PM ET

The U.S. economy is in for a "lasting slowdown" and could face a Japan-style period of relatively low growth coupled with high inflation, billionaire investor George Soros said on Monday.

Soros, speaking to Reuters Financial Television, also warned that rescuing U.S. banks could turn them into "zombies" that draw the lifeblood of the economy, prolonging the economic slowdown.

"I don't expect the U.S. economy to recover in the third or fourth quarter so I think we are in for a pretty lasting slowdown," Soros said, adding that in 2010 there might be "something" in terms of U.S. growth.

Soros' view contrasts with the majority of economists, who expect the U.S. economy to stop contracting in the third quarter and resume growing in the fourth quarter, according to the latest monthly poll of forecasts conducted by Reuters.

The recovery will look like "an inverted square root sign," Soros said. "You hit bottom and you automatically rebound some, but then you don't come out of it in a V-shape recovery or anything like that. You settle down—step down."

The healing of the banking system and housing markets is crucial to recovery. "The banking system, as a whole, is basically insolvent," Soros said....

full story: http://www.cnbc.com/id/30069223

lunar
07.04.2009, 09:10
Zum Thema Pessimismus:
Ein Artikel der in etwa die Situation beschreibt. Auch wenn ich keine Freund Neoliberaler Paukenschläger wie der WW bin (den die Neokons sind es, die seit 25 Jahren diesen Zustand erschaffen haben). Doch der Kommentar trifft meine Auffassung über den drohenden Zustand.


Die Wut der Bürger
Einblick
Roland Tichy über die Enteignung der Mittelklasse

Muss ich mich eigentlich bei Norbert Blüm entschuldigen? Jahrelang habe ich den letzten legendären Sozialpolitiker, 16 Jahre lang Bundesarbeitsminister unter Helmut Kohl, publizistisch attackiert, weil die Rente eben nicht so sicher ist, wie er 1986 plakatiert hat. Und jetzt? Hat er nicht doch recht, ist die Sozialrente der letzte Anker unserer materiellen Sicherheit? Denn weltweit geht unter, was die Mittelklasse angespart hat: Das Eigenheim verfällt im Wert ebenso wie Aktien. Pffffft, es ist, als ob die Luft aus
dem Ballon entwiche, der mal unsere Vorsorge war (lesen Sie Seite 88). Daran kann auch der Londoner Finanzgipfel nichts mehr ändern. Es trifft die Rentner in Florida, die den Golfplatz gegen einen Billigjob bei McDonald’s tauschen müssen, um sich überWasserzu halten,nachdem ihre Depots
ausradiert wurden. Es trifft die aufsteigende Mittelklasse am Perlflussdelta, der Fabrik derWelt, die erstmals in der Geschichte Chinas menschenwürdige Wohnung, Versorgung und bescheidenen Wohlstand erworben hat – und jetzt ihreAufstiegspläne durch eine ganz neue Art der Kulturrevolution durchkreuzt sieht. Es trifft die neuen Mittelschichten in Osteuropa, die aus den Ruinen des Sozialismus demokratische und lebenswerte Städte aufgebaut haben.Es trifft rund um den Globus sehr unterschiedliche Menschen in sehr unterschiedlichen Wohlstandsniveaus. Aber eines eint
diese Menschen – die Zugehörigkeit zur Mittelschicht. Es geht um die Angehörigen der mittleren Einkommensklassen, um Menschen, die die „echte Bedeutung von wirtschaftlicher Unabhängigkeit“ leben wollen, mit „bescheidenem, aber Ankerfunktion versehenem Eigentum“, geprägt von einem Sinn für „Selbstverantwortung“. So hat Wilhelm Röpke, der schärfste Denker unter den Vätern der sozialen Marktwirtschaft, ihr Selbstverständnis beschrieben. Sie lehnen die „Stallhaltung“ im Sozialstaat ab, sorgen
fürwachsenden Wohlstand durch harte Arbeit und nachhaltiges Verantwortungsgefühl. Es sind aber auch die, deren Wut die Regierungen
fürchten müssen. Denn sie steigen auf die Barrikaden, wenn die Gesellschaft Wachstums- und Wohlstandsversprechen nicht mehr aufrechterhalten kann.
Davon ist Deutschland auf den ersten Blick weit entfernt. Ohnehin sind nur rund 40 Prozent der Bevölkerung in der freien Wirtschaft beschäftigt und um den Arbeitsplatz besorgt. Die erzkonservative Scheu der Deutschen vor Aktien und Derivaten ist jetzt die Rettung: Sparbuch und Bausparver-
trag bleiben bislang durch die Krise unversehrt; die Verzinsung der Lebensversicherung sinkt, aber noch wird gezahlt. Mit Kurzarbeit färben wir schön, was ökonomisch gesehen versteckte Arbeitslosigkeit ist. Die Renten werden erhöht, als ob die Mittel dafür vom Mars kämen. Und: Wir
sind heute, anders als in den Zwanziger- und Dreißigerjahren der letzten Weltwirtschaftskrise, eine alte Gesellschaft. Rentner keifen, aber revoltieren nicht.Aber hält die Krise an, läuft der Sozialstaat leer, denn Umverteilung kann wirtschaftliche Realität camouflieren, aber nicht außer Kraft setzen. Zudem spürt der geduldig staatstragende Mittelstand, dass er nach dem privaten Vermögensverlust über steigende Steuern zur Tilgung der Staats-
verschuldung ein zweites Mal zur Kasse gebeten wird – je jünger, je mehr. Schüler der Geschwister-Scholl-Schule in Hermeskeil laden im Juni Politiker und Unternehmer zur Debatte um die Frage „Aber wir müssen das doch bezahlen!“. Stimmt genau. Das einzig Gute an der Sache ist, dass ich
mich, lieber Norbert Blüm, doch nicht entschuldigen muss.
Aber wenn die Stimmung erst so schlecht geworden ist wie die Lage,
wird es so ruhig nicht bleiben im Land. Ein halbes Dutzend Wahlen heizen
die Stimmung an. Das werden selbst für die gemütliche Rentnerrepublik spannende Monate, die erste wirkliche Bewährungsprobe für unser Gesellschaftssystem.

Die Wut der Bürger
Einblick
Roland Tichy über die Enteignung der Mittelklasse
Quelle: Wirtschaftswoche 15/2009 06.04.2009

Zum Original-Beitrag (http://showthread.php3?p=1231389#post1231389)
....vielleicht besser die Wut als die Resignation :o

lunar
07.04.2009, 09:16
Tue 7 Apr 2009

What’s Big And Red And Full Of Fail? (http://lolfed.com/2009/04/07/whats-big-and-red-and-full-of-fail/)

Posted by alyx under bailout (http://lolfed.com/category/bailout/)

http://lolfed.com/wp-content/uploads/oh-noes.jpg

I’m talking about the US’ estimated deficit for the first half of 2009, of course (http://zerohedge.blogspot.com/2009/04/us-deficit-reaches-1-trillion-for-first.html). We all expected it to be a rather large negative number because of spending related to TARP and our other favorite acronyms, but to add insult to injury, the government isn’t managing any to bring in any income to offset that outgo, either:
The Congressional Budget Office has released preliminary deficit numbers (https://www.cbo.gov/ftpdocs/100xx/doc10069/04-2009-MBR.pdf), which indicate that for the first half of 2009 the deficit has already hit $1 trillion, $640 billion more than the comparable 2008 period, when the deficit was $313 billion.

While the outlays can be explained by the massive TARP spending and other stimulus programs, the scariest piece of information is that receipts for March were $125 billion, $54 billion lower than the previous March. Additionally, receipts for H1 2009 were $986 billion, $160 billion lower than $1,146 billion in H1 2008.

Well, if Treasury’s cupboard is gonna be bare, we know we can count on the Fed. Paging @ZimbabweBen (http://twitter.com/zimbabweben)… get to da choppa!

Speaking of TARP and the CBO, it’s worth noting also that CBO has adjusted its estimates of the total taxpayer cost of this $700bn program (http://online.wsj.com/article/SB123880278764488701.html) - which was at one point ludicrously sold to us as possibly turning a small PROFIT for the taxpayer (though, if you ever believed this, I have a holding company which has financed a bridge you may be interested in purchasing some credit-default swaps on) - and naturally, the adjustment is not in the taxpayers’ favor:
In January, the CBO pegged the ultimate cost to taxpayers of the $700 billion TARP at $189 billion. When the agency issued revised numbers in late March, it revised that to $356 billion, a change that drew little attention. The larger estimate reflects, among other things, the Treasury’s move to use the TARP to help avoid foreclosures, as well as the changing details of its aid to American International Group Inc., and the deterioration of financial conditions and of banks in which the Treasury has invested TARP money.

Can we arrange a “Sally Struthers Save The Banksters Telethon” next time they need cash? And can we maybe get a box of Ho-Hos, too? If we’re gonna get reamed, we at least deserve dinner and a show beforehand.

lunar
07.04.2009, 09:23
....also ich stell den ganzen Artikel rein - in was für einer Welt leben wir nur :bad:gomad

http://www.washingtonpost.com/wp-dyn/content/article/2009/04/06/AR2009040603654.html?hpid=topnews

http://www.washingtonpost.com/wp-srv/images/homepage/logos/twp_logo_300.gif
(http://www.washingtonpost.com/)

Report Calls CIA Detainee Treatment 'Inhuman'

126 comments about this item.
View All Comments » (http://www.washingtonpost.com/wp-dyn/content/article/2009/04/06/AR2009040603654_Comments.html)


By Joby Warrick and Julie Tate (http://projects.washingtonpost.com/staff/email/joby+warrick+and+julie+tate/)
Washington Post Staff Writers
Tuesday, April 7, 2009; Page A06

Medical officers who oversaw interrogations of terrorism suspects in CIA secret prisons committed gross violations of medical ethics and in some cases essentially participated in torture, the International Committee of the Red Cross concluded in a confidential report that labeled the CIA program "inhuman."

Health personnel offered supervision and even assistance as suspected al-Qaeda operatives were beaten, deprived of food, exposed to temperature extremes and subjected to waterboarding, the relief agency said in the 2007 report, a copy of which was posted on a magazine Web site yesterday. The report quoted one medical official as telling a detainee: "I look after your body only because we need you for information."

New details about alleged CIA interrogation practices were contained in the 43-page volume written by ICRC officials who were given unprecedented access to the CIA's "high-value detainees" in late 2006. While excerpts of the report were leaked previously, the entire document was made public for the first time by author Mark Danner, a journalism professor, on the Web site of the New York Review of Books.

The confidential report sheds additional light on the CIA's handling of the detainees, who were held in secret overseas prisons for up to four years and subjected to what the agency describes as "enhanced interrogation techniques." In addition to widely reported methods such as waterboarding, the report alleges that several of the detainees were forced to stand for days in painful positions with their arms shackled overhead. One prisoner reported being shackled in this manner for "two to three months, seven days of prolonged stress standing followed by two days of being able to sit or lie down."

In addition to the coercive methods -- which the ICRC said "amounted to torture" and a violation of U.S. and international treaty obligations -- the report said detainees were routinely threatened with further violence against themselves and their families. Nine of the 14 prisoners said they were threatened with "electric shocks, infection with HIV, sodomy of the detainee and . . . being brought close to death," it said.

The ICRC report was based on accounts made separately to agency investigators by individual detainees, all of whom had been kept in isolation before the interviews, the document states. CIA officials have confirmed that three of the prisoners were subjected to waterboarding, which simulates drowning.

An ICRC spokesman confirmed the authenticity of the document and said the organization "deplores that what was to be a confidential report has been made public."

The CIA declined yesterday to comment on the report, citing the Red Cross's own policy of maintaining the confidentiality of its reports. But spokesman Mark Mansfield noted that the agency had long since ended the controversial interrogation program.

"Director [Leon] Panetta has taken decisive steps to ensure that the CIA abides by the president's executive orders. That means CIA will not use interrogation techniques outside the Army Field Manual," he said. He noted that Panetta also has stated repeatedly that "no one who took actions based on legal guidance from the Department of Justice at the time should be investigated, let alone punished."

Previously, top Bush administration officials defended the interrogation methods, saying they were legal and necessary to prevent terrorist attacks.

The report's release puts added pressure on the Obama administration, which has banned the use of waterboarding and similar techniques but has resisted calls to conduct legal inquiries to determine whether Bush administration officials broke laws.

The presence of medical personnel at CIA interrogation sites has been reported previously, but ICRC investigators found that their participation in some of the more harsh episodes to be a severe breach of medical ethics. The report said the officials were enlisted to ensure that the detainees did not die or suffer irreparable damage.

The report can be accessed at http://www.nybooks.com/icrc-report.pdf.

lunar
07.04.2009, 15:43
ERDBEBEN IN ITALIEN

Experten machen Baumängel für Katastrophe mitverantwortlich (http://www.spiegel.de/panorama/0,1518,617832,00.html)

Tausende Gebäude sind in der italienischen Erdbebenregion eingestürzt - jetzt wird Kritik an den Behörden laut: Architekten zufolge haben Materialmängel und schlampige Bauweise das Ausmaß der Katastrophe vergrößert. mehr... (http://www.spiegel.de/panorama/0,1518,617832,00.html) [ Video (http://www.spiegel.de/video/video-59846.html) | Forum (http://forum.spiegel.de/showthread.php?t=6793) ]

.....Dass die Katastrophe dieses Ausmaßes hätte verhindert werden können, führt auch Enzo Boschi an, Chef des Nationalen Instituts für Geophysik und Vulkanologie (Ingv). "Nach jedem Erdbeben herrscht zwar große Aufregung, aber es ist nicht Teil unserer Kultur, in seismischen Zonen der Gefahr angemessen zu bauen", sagte Boschi der Zeitung "Tiscali Notizie". Sein Institut, sagte Boschi, habe eine Risikokarte zur Bebengefahr erarbeitet, einschließlich der erforderlichen Sanierungsmaßnahmen für ältere Gebäude in besonders gefährdeten Gebieten. Es sei von verantwortlicher Seite jedoch nicht gehandelt worden.....


......Mafia baut eben so :(

lunar
07.04.2009, 16:25
PRESIDENT MAKES SURPRISE IRAQ VISIT (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html)

Plans To Meet With General Odierno… Troops… Weather Currently Grounding Helicopters… May Have To Shelve Meetings With Iraqi Leaders... (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html) Arrives After Car Bomb Kills 9... Deadly Attacks Hit City Monday... Security Concerns Grow... (http://www.huffingtonpost.com/2009/04/07/baghdad-car-bomb-kills-9-_n_183921.html)
Earlier: President Held Town Hall In Turkey... Was Scheduled To Fly To DC (http://www.huffingtonpost.com/2009/04/07/obama-in-istanbul-visits-_n_183912.html)






Quick Read (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html) |
Comments (146) (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html)
| Iraq (http://www.huffingtonpost.com/news/iraq)

lunar
07.04.2009, 16:28
....einer der Kommentare zu oben ;)

Reply (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Favorite (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Flag as abusive (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Posted 10:20 AM on 04/07/2009

- (http://javascript%3Cb%3E%3C/b%3E:void%280%29) + (http://javascript%3Cb%3E%3C/b%3E:void%280%29) http://www.huffingtonpost.com/images/comments/new_icon.gif rampage See Profile (http://www.huffingtonpost.com/users/profile/rampage) I'm a Fan of rampage (http://www.huffingtonpost.com/users/becomeFan.php?of=rampage) I'm a fan of this user permalink (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html?show_comment_id=22758527#comment_22758527)
I knew Obama was a mu slim. I bet he stays in Iraq and doesn't come back stateside.


Reply (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Favorite (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Flag as abusive (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Posted 10:19 AM on 04/07/2009

- (http://javascript%3Cb%3E%3C/b%3E:void%280%29) + (http://javascript%3Cb%3E%3C/b%3E:void%280%29) http://www.huffingtonpost.com/images/comments/new_icon.gif JanuaryAquarius See Profile (http://www.huffingtonpost.com/users/profile/JanuaryAquarius) I'm a Fan of JanuaryAquarius (http://www.huffingtonpost.com/users/becomeFan.php?of=JanuaryAquarius) I'm a fan of this user permalink (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html?show_comment_id=22758666#comment_22758666)
I knew Obama was muscular and slim also but what does that have to do with Iraq


Reply (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Favorite (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Flag as abusive (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html#) Posted 10:23 AM on 04/07/2009


- (http://javascript%3Cb%3E%3C/b%3E:void%280%29) + (http://javascript%3Cb%3E%3C/b%3E:void%280%29) http://www.huffingtonpost.com/images/comments/new_icon.gif hortonhearsawho2 See Profile (http://www.huffingtonpost.com/users/profile/hortonhearsawho2) I'm a Fan of hortonhearsawho2 (http://www.huffingtonpost.com/users/becomeFan.php?of=hortonhearsawho2) I'm a fan of this user permalink (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html?show_comment_id=22758636#comment_22758636)
lol

Hoka
07.04.2009, 17:30
Bearish Note on Banks

Meredith Whitney, CEO of the Meredith Whitney Advisory Group, shares her insight on the sector.


http://www.cnbc.com/id/15840232?video=1084876450&play=1

lunar
07.04.2009, 19:48
merci Hoka :) sie ist :supi

lunar
07.04.2009, 19:54
"TIME FOR US TO TRANSITION TO THE IRAQIS" (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html)


VIDEO: OBAMA WITH THE TROOPS (http://www.huffingtonpost.com/2009/04/07/obamas-iraq-visit-makes-s_n_183968.html)

lunar
07.04.2009, 22:38
http://media.timesfreepress.com/img/photos/2009/04/01/090402_the_turnabout.jpg.

lunar
07.04.2009, 22:41
DemReadingDU http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/DemReadingDU) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=160840) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=160840) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=160840) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=160840&level=three) Tue Apr-07-09 03:26 PM
Response to Original message (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3819476&mesg_id=3819476) 84. Tyler Durden: Bail Out For Dummies - Part 1 http://upload.democraticunderground.com/discuss/images/avatars/book.gif Edited on Tue Apr-07-09 03:27 PM by DemReadingDU
4/7/09
Zero Hedge believes it is a civic duty to represent the total melange of assorted concepts and alphabet soups in the ongoing debacle that is the Bail Out in a comprehensible and easily understandable context as the decisions the administration is making will have generational consequences. Therefore, I am presenting a view of the players, the mechanisms and the core of the Bail Out problem in a way that will be much easier to be comprehended by most interested parties.

The Players
http://2.bp.blogspot.com/_FM71j6-VkNE/SdtlA4Xh6-I/AAAAAAAABuA/Ni6uhIIQCFY/s400/bailout1.jpg


The Core of the Problem
http://4.bp.blogspot.com/_FM71j6-VkNE/SdtoqF6mMBI/AAAAAAAABuI/YDVXPUSsQc4/s400/bailout2.jpg


The Collateral
http://4.bp.blogspot.com/_FM71j6-VkNE/Sdtprr7wP5I/AAAAAAAABuQ/F9Ypqh9zdjw/s400/bailout3.jpg


The charts are a bit difficult to read, so click here for larger graphs
more to read...
http://zerohedge.blogspot.com/2009/04/bail-out-for-dumm... (http://zerohedge.blogspot.com/2009/04/bail-out-for-dummies-part-1.html)

lunar
07.04.2009, 22:45
DemReadingDU http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/DemReadingDU) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=160840) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=160840) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=160840) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=160840&level=three) Tue Apr-07-09 03:02 PM
Response to Original message (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3819476&mesg_id=3819476) 83. Martin Weiss: Gov’t data fatally flawed! Real jobless rate hits 19.8%! http://upload.democraticunderground.com/discuss/images/avatars/book.gif 4/6/09 Gov’t data fatally flawed! Real jobless rate hits 19.8%! by Martin Weiss

we’re not the only ones finding fatal flaws in official numbers and conclusions. John Williams of ShadowStats.com has been persistently doing so with the government’s official data on inflation and unemployment, among other key measures.

His latest estimate of the true March unemployment rate in the United States: 19.8 percent!

Hard to believe? Then consider the facts:

http://images.moneyandmarkets.com/1314/unemployment-rate.gif


Fact #1. Fatally Flawed Official Unemployment Number
read more...

Fact #2. Government Admits Some of the Flaws
read more...

Fact #3. Government Still Fails to Admit ALL of the Flaws
read more...



The peak unemployment rate in America’s First Great Depression was 25 percent. Trouble is, it’s hard to pinpoint how the measurements back then correspond to the various measures today.

My view: Although the tools of official deception may have been less developed, the real unemployment rate in the 1930s was probably higher in those days as well — with many among the unemployed falling through the cracks and simply never counted.

No matter what, the inescapable conclusions for today should be evident:

* We are already in a depression. Based on the government’s own admission, we have high, double-digit unemployment. That clinches it.

* The economy’s decline still has a long way to go. Yes, on the eve of the BLS release last Friday, some people were starting to talk about a “possible bottom” in the economy — “maybe.” But that talk ended abruptly as soon as economists took one look at the release and realized the utter speed of the decline. As The New York Times explained on Saturday,

“The severity and breadth of the job losses in March — which afflicted nearly every industry outside of health care — prompted economists to conclude that an agonizing plunge in employment prospects was still unfolding.”

* The Obama stimulus package is too little, too late for the economy.“When drafting plans in January to spend roughly $800 billion to stimulate the deteriorating economy,” continues The New York Times, “the Obama administration operated on the assumption that the unemployment rate would reach 8.9 percent by the end of the year — without the extra federal spending. Three months into the year, the unemployment rate has already soared to 8.5 percent, from 7.6 percent, the highest level in more than a quarter-century.”

* The Obama stimulus package is too much, too soon for the bond market. With the economy weaker than expected, you’d think bond investors, who traditionally see a falling economy as the best antidote to inflation, would rejoice. Instead, they’re doing precisely the opposite. They know that the stimulus package is driving the federal deficit to an unheard-of $2 trillion. They know the Fed cannot cut rates below zero. And so they’re using every opportunity to sell. Result: Even Friday, when the shocking jobless release hit the newswires, bond investors dumped bonds, driving prices lower and yields higher.

* Government bonds are the next big shoe to fall in this giant debt crisis. I don’t mean the government will default on its debt. What I’m referring to is the market prices of medium- and long-term government bonds. They’re already falling sharply, driving long-term rates higher. As the Treasury rushes to finance its recent bailout frenzy, expect that trend to accelerate.


Click to read recommendations...
http://www.moneyandmarkets.com/gov%e2%80%99t-data-fatal... (http://www.moneyandmarkets.com/gov%e2%80%99t-data-fatally-flawed-real-jobless-rate-hits-198-33014)

lunar
08.04.2009, 09:55
Video beweist: Polizei attackierte G-20-Demonstranten (http://www.tagesanzeiger.ch/ausland/dossier/der-gipfel-der-g20-in-london/Video-beweist-Polizei-attackierte-G20Demonstranten/story/24422145)

Der Mann, der während der Proteste in London an einem Herzversagen starb, war nur Minuten vorher von Polizisten angegriffen worden. Das zeigt ein Video, das die Polizei jetzt zu einer internen Untersuchung zwingt. Mehr... (http://www.tagesanzeiger.ch/ausland/dossier/der-gipfel-der-g20-in-london/Video-beweist-Polizei-attackierte-G20Demonstranten/story/24422145)

Aktualisiert um 08:40 Uhr 3 Kommentare (http://www.tagesanzeiger.ch/ausland/dossier/der-gipfel-der-g20-in-london/Video-beweist-Polizei-attackierte-G20Demonstranten/story/24422145#kommentar)




Polizei griff später verstorbenen Demonstranten an (http://www.tagesanzeiger.ch/ausland/dossier/der-gipfel-der-g20-in-london/Video-beweist-Polizei-attackierte-G20Demonstranten/story/24422145)


Toter an G-20-Demo: Wurde er doch von Polizisten geschlagen? (http://www.tagesanzeiger.ch/ausland/europa/Toter-an-G20Demo-Wurde-er-doch-von-Polizisten-geschlagen/story/31076078)
Ein Toter bei G-20-Protesten in London (http://www.tagesanzeiger.ch/ausland/europa/Ein-Toter-bei-G20Protesten-in-London/story/26333233)

lunar
08.04.2009, 10:09
Die Stadt Zürich leidet mit ihren Banken

Von Janine Hosp Erstmals seit 10 Jahren schreibt die Stadt Zürich wieder rote Zahlen. Die Finanzkrise hat sie mit voller Wucht getroffen.


http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/08/013/article8_1.jpg Martin Vollenwyder. http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/08/013/article8_2.jpg Zürich. – Budgetiert war ein «nettes Ergebnis» von 59 Millionen Franken, wie Finanzvorstand Martin Vollenwyder (FDP) gestern vor den Medien sagte. Die Finanzkrise aber verwandelte den Überschuss in ein Defizit von 179 Millionen Franken. Dies bei einem Aufwand von 7480 Millionen.

In guten Jahren lieferten die beiden Grossbanken UBS und CS jeden sechsten Steuerfranken; jetzt, da beide ins Straucheln gekommen sind, bekommt dies auch die Stadt zu spüren: Die Steuererträge aller Unternehmen sind innert eines Jahres fast dramatisch eingebrochen, von 977 auf 576 Millionen Franken Ende 2008. Und Vollenwyder rechnet, dass sie weiter sinken, bis 2010 womöglich gar auf 350 Millionen. «2010 wird ein hartes Jahr», meinte er; die 600 Millionen fehlten der Stadt. Die «Steuern Vorjahre» waren 2008 sogar negativ – die Stadt musste der UBS Steuergelder in Millionenhöhe zurückzahlen, welche die Bank vor der Finanzkrise in Erwartung besserer Zeiten bereits einbezahlt hatte....


http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/08/013/



...leidet mit - sollte wohl eher heissen leidet wegen....:gomad denn die Häupter der Banken mit ihren Milli....... wohnen wohl nicht in der Stadt, geniessen zwar Infrastruktur und sämtliche Vorteil zahlen aber lieber woanders Steuern :bad

lunar
08.04.2009, 10:19
......Gurría ignoriert alle Aufforderungen

.....Die Schweiz kann die Arbeit der OECD nicht nur über die Blockade von Geldern lähmen. Fachleuten zufolge wäre es auch möglich, die Aufnahme neuer Mitglieder zu verhindern. Um den Einfluss der OECD zu stärken, möchte Gurría unbedingt Brasilien, Indien, Indonesien, China und Südafrika mit dabeihaben. Sollte dieser Prozess ins Stocken geraten, würde dies sowohl der OECD als auch ihrem ehrgeizigen Generalsekretär wehtun.

Die heftig diskutierte schwarze Liste existiert im Übrigen inzwischen nicht mehr: Da Costa Rica, Malaysia, die Philippinen und Uruguay angekündigt haben, die internationalen Standards zur Verhinderung von Steuerflucht zu übernehmen, sind sie gestern von der Liste der unkooperativen Länder gestrichen worden.

Die Schweiz könnte mit dem Veto auch die Aufnahme neuer Länder verhindern."

http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/08/021/

Herr Gurría hat sich unter anderem auch mit Hilfe der Schweiz an diesen Posten geboxt... :o:rolleyes

lunar
08.04.2009, 10:29
....ist schon eigenartig - legal die Möglichkeit haben jemanden zu erschiessen....Regulations aren't getting stricter :gomad

RECENT GUNMEN ALL
''LEGALLY ENTITLED'' TO ARMS (http://www.huffingtonpost.com/2009/04/07/gun-permits-what-the-late_n_184391.html)

Gun Permits Common Thread In Monthlong Series Of Rampages... 57 Lives Claimed Since March 10... One Thing Appears Certain: Regulations Aren't Getting Stricter (http://www.huffingtonpost.com/2009/04/07/gun-permits-what-the-late_n_184391.html)





Quick Read (http://www.huffingtonpost.com/2009/04/07/gun-permits-what-the-late_n_184391.html) |
Comments (http://www.huffingtonpost.com/2009/04/07/gun-permits-what-the-late_n_184391.html)

lunar
08.04.2009, 14:07
http://d.yimg.com/a/p/afp/20090406/capt.photo_1239006340748-1-0.jpg?x=242&y=345&q=85&sig=4rOK6YOj_vAB77IflKJ5Ew--
FIDEL: 'HOW CAN WE HELP PRESIDENT OBAMA?' (http://latimesblogs.latimes.com/washington/2009/04/congressional-caucus-members-meet-with-the-castro-cousins-in-cuba.html)

....wie/ob sich die Zeiten ändern :rolleyes:cool

lunar
08.04.2009, 14:24
Somali Pirates Hijack Ship With 21 Americans On Board (http://www.huffingtonpost.com/2009/04/08/somali-pirates-hijack-shi_n_184536.html)


KATHARINE HOURELD (http://www.huffingtonpost.com/2009/04/08/somali-pirates-hijack-shi_n_184536.html#) | April 8, 2009 07:46 AM


NAIROBI, Kenya — Somali pirates on Wednesday hijacked a U.S.-flagged with 20 American crew members onboard, according to the shipping company.

The 17,000-ton Maersk Alabama was carrying emergency relief to Mombasa, Kenya at the time it was hijacked, said Peter Beck-Bang, spokesman for the Copenhagen-based container shipping group A.P. Moller-Maersk.

In a statement, the company later confirmed that the U.S.-flagged vessel has 20 U.S. nationals onboard.

U.S. Navy spokesman Lt. Nathan Christensen said there were U.S. citizens aboard the ship, but he did not say how many.

The U.S. Navy confirmed that a U.S.-flagged ship had been hijacked Wednesday at 0430GMT (12:30 a.m. EDT). Christensen said the attack happened about 280 miles (450 kilometers) southeast of Eyl, a town in the northern Puntland region of Somalia.

The ship is the sixth to be seized within a week, a rise that analysts attribute to a new strategy by Somali pirates operating far from the warships patrolling the Gulf of Aden.

Christensen said the closest U.S. ship at the time of the hijacking was 345 miles away.

"The area, the ship was taken in, is not where the focus of our ships has been," Christensen told The Associated Press on the phone from the 5th Fleet's Mideast headquarters in Bahrain.

"The area we're patrolling is more than a million miles in size. Our ships cannot be everywhere at every time," Christensen said.

Associated Press writers Barbara Surk in Dubai, United Arab Emirates; Jan M. Olsen in Copenhagen; and Tom Maliti and Anita Powell in Nairobi, Kenya contributed to this report.

(This version CORRECTS location to southeast of Eyl, sted northeast)



Somalische Seeräuber bringen US-Besatzung in ihre Gewalt (http://www.spiegel.de/politik/ausland/0,1518,618154,00.html)

Heikler Pirateriefall vor der Küste Somalias: Seeräuber haben das US-Containerschiff "Maersk Alabama" gekapert - erstmals brachten sie auch Seeleute aus den USA in ihre Gewalt. Möglicherweise hat der Frachter sogar Rüstungsmaterial des Pentagon an Bord. mehr... (http://www.spiegel.de/politik/ausland/0,1518,618154,00.html)

:eek:rolleyes .....In dem speziellen Fall lässt sich diese Vorsicht möglicherweise nicht mehr halten. Denn die Maersk-Containerschiffe sind eine der vom amerikanischen Militär benutzten Wege, um Rüstungsmaterial, aber auch geheime Technik wie Drohnen und andere Ausklärungslogistik, für das US-Militär zu verschiffen. Wenn die "Maersk Alabama" solch heiße Ware an Bord hat, könnte dies den Fall massiv komplizieren.......

....ja spannend was denn wirklich transportiert wurde :confused:rolleyes

lunar
08.04.2009, 14:57
Tue 7 Apr 2009

Tuesday Roundup (http://lolfed.com/2009/04/07/tuesday-roundup/)

Posted by alyx under links (http://lolfed.com/category/links/)
1 Comment (http://lolfed.com/2009/04/07/tuesday-roundup/#comments)
- It looks like a Chinese national was trying to smuggle nukes to Iran by using our favorite NY banks as a conduit. (http://www.nydailynews.com/news/2009/04/07/2009-04-07_iranian_nuke_plot_vaporized_in_the_city_-2.html) And you thought the bombs were just on their balance sheets! *rimshot* [WaPo]

- Speaking of China, they’re fluent in Ponzi over there (http://thereformedbroker.com/2009/04/06/warren-buffett-of-china-berk-shee-hatha-wei-ponzi/), too. [TheReformed Broker]

- Playboy has reviewed some financial ads from the last ten years (http://www.playboy.com/articles/ad-it-up-financial-institution-ads/index.html) and deemed them fail. Worth noting, they didn’t differentiate between investing with AIG and investing in AIG and probably should have, but man, do some of these taglines look ironic now. (Link is SFW if the Bunny is not blocked by your firewall.) My personal fave from their list:

TwFp_nS_H_M&eurl

In this TV spot, which aired during coverage of the 2004 Athens Summer Olympics, AIG claimed: “We know money.” Listening to it now, it sounds more like, “We no money.” :rolleyes


- Kumar - I mean Kal Penn - goes to the White House. (http://voices.washingtonpost.com/reliable-source/2009/04/kumar_goes_to_the_white_house.html?hpid=entnews) Meanwhile, another Kumar - this one really named Kumar - bails on TPG-Axon to start his own hedge fund (http://www.bloomberg.com/apps/news?pid=20601087&sid=aCLQ40AQ5eRo&refer=home), named LionRock. Kinda sounds like a name for a bar, and these days I’d rather be operating one of those than a hedge fund. [Bloomberg]

- Cheap cigarettes (http://mainstreet.com/article/lifestyle/cheap-cigarettes-and-how-get-them)! Economists agree you should start smoking so that you die already and get off the public dole (http://www.msnbc.msn.com/id/30092491/) (as Denis Leary said, those cigs will take years off your life, but they’re off the END of your life), but you don’t have to spend a mint doing it. [MainStreet, MSNBC]

- Hey, baby. The real nanotech is in my pants (http://www.techradar.com/news/world-of-tech/nanotech-condom-is-made-of-silver-foam-590893) [TechRadar]

- Finally, President Obama wants you to buy a car (http://www.atom.com/funny_videos/3EFBFFFF018DACBE001700B561EE/). C’mon… they’ve got trunks! What more could you ask for? [Atom]

lunar
08.04.2009, 15:47
Congressional Panel Suggests Firing Managers, Liquidating Banks

By Robert Schmidt http://www.bloomberg.com/apps/data?pid=avimage&iid=iDM6Qdh.a6gY

April 8 (Bloomberg) -- A congressional panel overseeing the U.S. financial rescue suggested that getting rid of top executives and liquidating problem banks may be a better way to solve the economic crisis.

The Congressional Oversight Panel, in a report (http://cop.senate.gov/reports/library/report-040709-cop.cfm) released yesterday, also said the Treasury may be relying on too rosy an economic scenario to guide its $700 billion bailout, and declared that the success of the program after six months is “mixed.” Three of the group’s members disagreed with at least some of the findings.

“All successful efforts to address bank crises have involved the combination of moving aside failed management and getting control of the process of valuing bank balance sheets,” the panel, headed by Harvard Law School Professor Elizabeth Warren (http://search.bloomberg.com/search?q=Elizabeth%0AWarren&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), said in its report.

Treasury Secretary Timothy Geithner (http://search.bloomberg.com/search?q=Timothy+Geithner&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1) has revamped the Troubled Asset Relief Program to focus on injecting capital into banks and removing up to $1 trillion in illiquid securities from their balance sheets via public-private investment partnerships. The government is also working to unfreeze credit markets through a Federal Reserve program that provides loans to investors in some asset-backed securities......

full story: http://www.bloomberg.com/apps/news?pid=20601087&sid=aJJ_MkIv9VvA&refer=home

...kann mir nicht vorstellen, dass der feine Herr Blankfein oder der smarte Jamie Dimon den Hut nehmen :rolleyes gibt ja genug Sündenböcke die man über die Klinge springen lassen kann :o

lunar
08.04.2009, 16:10
Folgen des Erdbebens

Berlusconi: Man muss es nehmen wie ein Camping-Wochenende :dumm

http://www.faz.net/m/%7BF4EE6533-4817-4A5F-B838-0DEFFF5A358E%7DFile1_4.jpg (http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc%7EEC15C876D904F4ADB91F3679A95D69391%7EATpl%7EEcommon%7ESMed.html) Geschockt: eine Frau in L'Aquila

08. April 2009 Der italienische Ministerpräsident Berlusconi hat die Lage der durch das Erdbeben obdachlos gewordenen Menschen mit einem Camping-Urlaub verglichen. Rund 20.000 Menschen sollen laut offiziellen Angaben durch die Katastrophe das Dach über dem Kopf verloren haben. Obwohl ihre Häuser zerstört sind, fehle es ihnen an nichts, was die Versorgung mit Nahrungsmitteln und Medizin angehe. Ihre Unterbringung in Zelten sei „natürlich absolut provisorisch, aber man muss es eben nehmen wie ein Camping-Wochenende“, sagte Berlusconi gegenüber dem Nachrichtensender NTV......

http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc~EC15C876D904F4ADB91F3679A95D69391~ATpl~Ecommon~Sspezial.html (http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc%7EEC15C876D904F4ADB91F3679A95D69391%7EATpl%7EEcommon%7ESspezial.html)

.....nicht zu fassen was dieser Mann für Sprüche klopft - warum wird/wurde so was gewählt :kopf



Katastrophenprognose (http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc%7EEFCC8713C387E499A9AF15DD1B3A37213%7EATpl%7EEcommon%7EScontent.html)
Forscher sagte Beben voraus (http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc%7EEFCC8713C387E499A9AF15DD1B3A37213%7EATpl%7EEcommon%7EScontent.html)

http://www.faz.net/m/%7B150FCA13-CE1C-41DE-A072-EE89D7425B1B%7Dq90.jpg (http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc%7EEFCC8713C387E499A9AF15DD1B3A37213%7EATpl%7EEcommon%7ESMed.html) Der italienische Forscher Giampaolo Giuliani hatte vor einigen Tagen ein großes Erdbeben vorausgesagt. Er wurde nicht gehört. Stattdessen warf man ihm Panikmache vor :rolleyes:mad Von Til Huberhttp://www.faz.net/f30/Images/LinkIcons/linkwinkel.gif (http://www.faz.net/s/RubB08CD9E6B08746679EDCF370F87A4512/Doc%7EEFCC8713C387E499A9AF15DD1B3A37213%7EATpl%7EEcommon%7EScontent.html)

lunar
08.04.2009, 16:19
Steinbrück plant unangemeldete Kontrollen bei Großverdienern

Wenn der Steuerfahnder plötzlich an der Haustür klingelt: Finanzminister Steinbrück will einem Bericht zufolge härter gegen Großverdiener vorgehen. Künftig sollen unangekündigte Steuerprüfungen möglich sein - auch ohne Verdacht. Im Visier: alle Bürger ab einem Jahresverdienst von 500.000 Euro.

http://www.spiegel.de/politik/deutschland/0,1518,618049,00.html


da wird der steingeier schneller ne staubwolke sehen als er denken kann


Zum Original-Beitrag (http://showthread.php3?p=1231731#post1231731)
....bald nur noch Saubermänner in D :Prost

lunar
08.04.2009, 19:14
Wed 8 Apr 2009

Even I This This Is In Bad Taste (http://lolfed.com/2009/04/08/even-i-this-this-is-in-bad-taste/)

Posted by Jason under Uncategorized (http://lolfed.com/category/uncategorized/)
1 Comment (http://lolfed.com/2009/04/08/even-i-this-this-is-in-bad-taste/#comments)
http://lolfed.com/wp-content/uploads/lolfired.jpg

It would appear that LOLFed is not alone in milking economic crisis for humor. A new TV show is planned, called Someone’s Gotta Go (http://www.hollywoodreporter.com/hr/content_display/news/e3i974830d95caa5dbfda28872329d5ab8e), in which employees at a small business vote on which of them will be laid off. Because, of course, being laid off in a highly unfriendly job market isn’t undignifying enough, now it can happen on television, in front of tens of viewers. Yes, this show is bound for the top of the ratings heap since the very best way to escape from the gruelling reality of your life is to watch a TV show about the very thing in life you are watching TV from which to escape.
The employees will have access to the company’s internal information — budgets, HR files, salaries, etc. — to help make their decision.

Each episode will focus on one small company (less than 20 employees). The host is a business expert, not yet named, who also serves as a consultant to the companies featured on the show. There’s no word yet when “Someone’s” will air.

Great, just what we need. Unemployment is hovering in the mid-8% range, the actual jobless rate is likely more than 10%, people are being forced out of their homes with little or no hope of any sort of future for themselves. Why not make a mockery of modern human tragedy with a faked reality show highlighted with plenty of crying, scheming, and Donald-Trump-baiting? After all, layoffs are something that happen to other people, so let’s sit around and pretend for an hour that we have actual problems of our own. Oh, and it’s airing on Fox, naturally. Not only will this show document real people losing their jobs, being an unscripted series it also helps keep actors unemployed. So that’s kind of a twofer.

Swear to God, every single day brings us closer to Idiocracy (http://www.imdb.com/title/tt0387808/). Only thing that movie got wrong is that it won’t take us 500 years to get there.


:rolleyes

lunar
09.04.2009, 10:02
08 April 2009

Changing the Rules of the Blame Game (http://jessescrossroadscafe.blogspot.com/2009/04/changing-rules-of-blame-game.html)



"Treasury Secretary Timothy Geithner “is covering up,” Black said...“They're scared to death of a collapse. They're afraid that if they admit the truth, that many of the large banks are insolvent, they think Americans are a bunch of cowards, and that we'll run screaming to the exits"…Bill Moyer's Journal (http://www.pbs.org/moyers/journal/blog/2009/04/bill_moyers_michael_winship_ch.html#more)
Changing the Rules of the Blame Game
Bill Moyers and Michael Winship

A cartoon in the Sunday comics shows that mustachioed fellow with monocle and top hat from the Monopoly game – “Rich Uncle Pennybags,” he used to be called – standing along the roadside, destitute, holding a sign: “Will blame poor people for food.”

Time to move the blame to where it really belongs. That means no more coddling banks with bailout billions marked “secret.” No more allowing their executives lavish bonuses and new corporate jets as if they’ve won the megalottery and not sent the economy down the tubes. And no more apostles of Wall Street calling the shots.

Which brings us to Larry Summers. Over the weekend, the White House released financial disclosure reports revealing that Summers, director of the National Economic Council, received $5.2 million last year working for a $30 billion hedge fund. He made another $2.7 million in lecture fees, including cash from such recent beneficiaries of taxpayer generosity as Citigroup, JP Morgan and Goldman Sachs. The now defunct financial services giant Lehman Brothers handsomely purchased his pearls of wisdom, too.

Reading stories about Summers and Wall Street you realize the man was intoxicated by the exotic witches’ brew of derivatives and other financial legerdemain that got us into such a fine mess in the first place. Yet here he is, serving as gatekeeper of the information and analysis going to President Obama on the current collapse. We have to wonder, when the President asks, “Larry, who did this to us?” is he going to name names of old friends and benefactors? Knowing he most likely will be looking for his old desk back once he leaves the White House, is he going to be tough on the very system of lucrative largesse that he helped create in his earlier incarnation as a de-regulating Treasury Secretary? (“Larry?” “Yes, Mr. President?” “Who the hell recommended repealing the Glass-Steagall Act back in the 90s and opened the floodgates to all this greed?” “Uh, excuse me, Mr. President, I think Bob Rubin’s calling me.”)

That imaginary conversation came to mind last week as we watched President Obama's joint press conference with British Prime Minister Gordon Brown. When a reporter asked Obama who is to blame for the financial crisis, our usually eloquent and knowledgeable President responded with a rambling and ineffectual answer. With Larry Summers guarding his inbox, it’s hardly surprising he’s not getting the whole story.

If only someone with nothing to lose would remind the President of that old story – perhaps apocryphal but containing a powerful truth – of the Great Wall of China. Four thousand miles long and 25 feet tall. Intended to be too high to climb over, too thick to break through, and too long to go around. Yet in its first century of the wall’s existence, China was successfully breached three times by invaders who didn’t have to break through, climb over, or go around. They simply were waved through the gates by obliging watchmen. The Chinese knew their wall very well. It was the gatekeepers they didn’t know.

Shifting the blame for the financial crisis to where it belongs also means no more playacting in round after round of congressional hearings devoted more to posturing and false contrition than to truth. We need real hearings, conducted by experienced and fiercely independent counsel asking the tough questions, or an official commission with subpoena power that can generate evidence leading, if warranted, to trials and convictions – and this time Rich Uncle Pennybags shouldn’t have safely tucked away in his vest pocket a “Get Out of Jail Free” card.

So far, the only one in the clink is Bernie Madoff and he was “a piker” compared to the bankers who peddled toxic assets like unverified “liars' loan” mortgages as Triple-A quality goods. So says Bill Black, and he should know. During the savings and loan scandal in the 1980s, Black, who teaches economics and law at the University of Missouri, Kansas City, was the federal regulator who accused then-House Speaker Jim Wright and five US Senators, including John Glenn and John McCain, of doing favors for the S&L’s in exchange for campaign contributions and other perks. They got off with a wrist slap but Black and others successfully led investigations that resulted in convictions and re-regulation of the savings and loan industry.

Bill Black wrote a book about his experiences with a title that fits today as well as it did when he published it four years ago – "The Best Way to Rob a Bank Is to Own One." On last Friday night’s edition of BILL MOYERS JOURNAL, he said the current economic and financial meltdown is driven by fraud and banks that got away with it, in part, because of government deregulation under prior Republican and Democratic administrations.

“Now we know what happens when you destroy regulation,” Black said. “You get the biggest financial calamity for anybody under the age of 80.”

What’s more, the government ignored warnings and existing legislation to stop it before the current crisis got worse. “They didn't even begin to investigate the major lenders until the market had actually collapsed, which is completely contrary to what we did successfully in the savings and loan crisis,” Black said. “Even while the institutions were reporting they were the most profitable savings and loans in America, we knew they were frauds. And we were moving to close them down.”

There was advance warning of the current collapse. Black says that the FBI blew the whistle; in September 2004, “there was an epidemic of mortgage fraud, that if it was allowed to continue it would produce a crisis at least as large as the Savings and Loan debacle.”

But after 9/11, “The Justice Department transfers 500 white-collar specialists in the FBI to national terrorism. Well, we can all understand that. But then, the Bush administration refused to replace the missing 500 agents.” So today, despite a crisis a hundred times worse than the Savings and Loan scandal, “there are one-fifth as many FBI agents” assigned to bank fraud.

Treasury Secretary Timothy Geithner “is covering up,” Black said. “Just like Paulson did before him. Geithner is publicly saying that it's going to take $2 trillion — a trillion is a thousand billion — $2 trillion taxpayer dollars to deal with this problem. But they're allowing all the banks to report that they're not only solvent, but fully capitalized. Both statements can't be true. It can't be that they need $2 trillion, because they have massive losses, and that they're fine…

“They're scared to death of a collapse. They're afraid that if they admit the truth, that many of the large banks are insolvent, they think Americans are a bunch of cowards, and that we'll run screaming to the exits… And it's foolishness, all right?

“Now, it may be worse than that. You can impute more cynical motives. But I think they are sincerely just panicked about, ‘We just can't let the big banks fail.’ That's wrong.”

Black asked, “Why would we keep CEO’s and CFO’s and other senior officers that caused the problems? That’s nuts… We’re hiding the losses instead of trying to find out the real losses? Stop that… Because you need good information to make good decisions… Follow what works instead of what’s failed. Start appointing people who have records of success instead of records of failure… There are lots of things we can do. Even today, as late as it is. Even though we’ve had a terrible start to the [Obama] administration. They could change, and they could change within weeks.”

He called for a 21st century version of the Pecora Commission, referring to hearings that sought the causes of the Great Depression, held during the 1930’s by the US Senate Committee on Banking and Currency.

Ferdinand Pecora was the committee’s chief counsel and interrogator, a Sicilian émigré who was a progressive devotee of trust busting Teddy Roosevelt and a former Manhattan assistant district attorney who successfully helped shut down more than a hundred Wall Street “bucket shops” selling bogus securities and commodity futures. He was relentless in his cross-examination of financial executives, including J.P. Morgan himself.

Pecora’s investigation uncovered a variety of Wall Street calumnies – among them Morgan’s “preferred list” of government and political insiders, including former President Coolidge and a Supreme Court justice, who were offered big discounts on stock deals. The hearings led to passage of the Securities Act of 1933 and the Securities Exchange Act of 1934.

In the preface to his 1939 memoir, “Wall Street under Oath,” Ferdinand Pecora told the story of his investigation and described an attitude amongst the Rich Uncle Pennybags of the financial world that will sound familiar to Bill Black and those who seek out the guilty today.

“That its leaders are eminently fitted to guide our nation, and that they would make a much better job of it than any other body of men, Wall Street does not for a moment doubt,” Pecora wrote. “Indeed, if you now hearken to the Oracles of The Street, you will hear now and then that the money-changers have been much maligned. You will be told that a whole group of high-minded men, innocent of social or economic wrongdoing, were expelled from the temple because of the excesses of a few. You will be assured that they had nothing to do with the misfortunes that overtook the country in 1929-1933; that they were simply scapegoats, sacrificed on the altar of unreasoning public opinion to satisfy the wrath of a howling mob….”

According to Politico.com, at his March 27 White House meeting with the nation’s top bankers, President Obama heard similar arguments and interrupted, saying, “Be careful how you make those statements, gentlemen. The public isn’t buying that…. My administration is the only thing between you and the pitchforks.”

Stand aside, Mr. President, and let us prod with our pitchforks to get at the facts.


Posted by Jesse at 10:31 PM (http://jessescrossroadscafe.blogspot.com/2009/04/changing-rules-of-blame-game.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=979899054473646675) :verbeug

lunar
09.04.2009, 16:08
Wed 8 Apr 2009

I Can’t Believe They’re Taking Warren’s Wealth (http://lolfed.com/2009/04/08/i-cant-believe-theyre-taking-warrens-wealth/)

Posted by Jason under Uncategorized (http://lolfed.com/category/uncategorized/)
[3] Comments (http://lolfed.com/2009/04/08/i-cant-believe-theyre-taking-warrens-wealth/#comments)

Warren G and Nate Dogg’s magnum opus has been such a treasure trove for us here. May they continue to give forever, and never ever sue us for copyright infringement.

Berkshire’s credit rating has been cut (http://www.bloomberg.com/apps/news?pid=20601087&sid=ap0wC18qtgkg&refer=home) by Moody’s, to a peasant-like AA2, on the heels of Fitch cutting the company’s rating and S&P announcing they were reviewing it. So, you know, if you see Buffett out on the street begging for change, don’t give him any. He is no longer good for it. He’ll just spend it on GS, like a hobo. :rolleyes:o

lunar
09.04.2009, 16:15
US CAPTAIN STILL PIRATE HOSTAGE (http://www.huffingtonpost.com/2009/04/09/captain-richard-phillips-_n_185063.html)


Navy Destroyer "On The Scene" ... Lifeboat Holding Pirates And Captain Is Out Of Fuel... (http://www.huffingtonpost.com/2009/04/09/captain-richard-phillips-_n_185063.html) FBI Now Assisting Rescue (http://www.huffingtonpost.com/2009/04/09/maersk-alabama-hostage-si_n_185084.html)




Quick Read (http://www.huffingtonpost.com/2009/04/09/captain-richard-phillips-_n_185063.html) |
Comments (49) (http://www.huffingtonpost.com/2009/04/09/captain-richard-phillips-_n_185063.html)
| Somalia (http://www.huffingtonpost.com/news/somalia)
CAPTAIN RICHARD PHILLIPS: US Warship Arrives To Rescue Him As Pirates' Options Dwindle (http://www.huffingtonpost.com/2009/04/09/captain-richard-phillips-_n_185063.html)
April 9, 2009 10:01 AM EST | http://www.huffingtonpost.com/images/v/ap_wire.png

http://www.huffingtonpost.com/huff-wires/20090409/piracy/images/7c70c986-0383-41e3-b797-c5fdfcbfdf0e.jpg In this Jan 10, 2008 photo released by the U.S. Navy, the Arleigh Burke-class guided missile destroyer USS Bainbridge (DDG 96) arrives at the Marathi NATO Pier Facility in Souda Bay, Crete, Greece for a routine port visit. U.S. officials say an the USS Bainbridge and a half dozen others are headed to the scene where pirates captured a vessel with a U.S. crew off Somalia's coast. A person aboard the Maersk Alabama, reached by The Associated Press by satellite phone, says crew members had retaken control of the ship. (AP Photo U.S. Navy, Paul Farley)


.....One speaking on grounds of anonymity because of the sensitivity of the situation, described the incident now as a "somewhat of a standoff."

Though officials declined to say how close the Bainbridge is to the site, one official said of the pirates: "They can see it with their eyes." He spoke on condition of anonymity due to the sensitivity of talking about a military operation in progress.

The Bainbridge was among several U.S. ships that had been patrolling in the region when the 17,000-ton U.S.-flagged and its 20 crew were captured Wednesday.

On Thursday, Somalia's foreign minister said the pirates "cannot win" against American forces.......

lunar
09.04.2009, 18:13
The Character of this "New Bull Market" (http://jessescrossroadscafe.blogspot.com/2009/04/character-of-this-new-bull-market.html)


The paid for opinion pundits are touting a new bull market on the Bloomberg today.

Is this a bottom? Well perhaps, but until we see some positive change in the economic indicators that are not paper exercises in thinly veiled accounting fraud we choose to remain in cash and precious metals, while trading the ins and outs on a daily basis, trying to stay out of the way of the antics of the Wall Street wisenheimers.

So far this feels like a distribution rally before a retest of the lows. It is the timing of things that is the challenge, and the ability to spot a genuine change in character in the long market trend.

This is probably not the place for any investors to enter the markets, since the risk is still so historically high, although a little lower by recent standards.

Time will tell. The Fed fooled us in 2004 with their willingness to intentionally create a housing bubble to avoid the near term consequences. Perhaps Treasury and the Fed will cast caution to the wind and do it again, setting us up for a larger, more destructive collapse on the next guy's watch.

http://3.bp.blogspot.com/_H2DePAZe2gA/Sd4ZBEPunQI/AAAAAAAAI28/8FlNJYF5uWk/s400/100x_PE.jpg (http://3.bp.blogspot.com/_H2DePAZe2gA/Sd4ZBEPunQI/AAAAAAAAI28/8FlNJYF5uWk/s1600-h/100x_PE.jpg)



Posted by Jesse at 9:49 AM (http://jessescrossroadscafe.blogspot.com/2009/04/character-of-this-new-bull-market.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=9001391956841827493) :verbeug

lunar
09.04.2009, 21:40
Thu 9 Apr 2009

Ha Ha Ha, They F…Oh. (http://lolfed.com/2009/04/09/ha-ha-ha-they-foh/)

Posted by Jason under win (http://lolfed.com/category/win/)
[6] Comments (http://lolfed.com/2009/04/09/ha-ha-ha-they-foh/#comments)

Sure hope you weren’t shorting banks ahead of their quarterly reports. If you were, chances are you’re out on a ledge right now and not reading this anyway. So Wells Fargo did pretty well (http://www.nytimes.com/2009/04/10/business/10markets.html?ref=business) 1Q09, saying they’re anticipating a profit of $3b and that their Wachovia unit is “exceeding expectations” which might be good news or it might just mean that Wachovia hasn’t collapsed on itself like the house at the end of Poltergeist depending on where expectations were before.

Many an investor, hopefully not inspired by reading this site, had expected the rose-tinted glasses to come off once banks began releasing actual numbers for last quarter, because those numbers would be very small. Less than zero, even. But no, it turns out that three billion is significantly more than zero.

On one hand we’re relieved that we might be beginning to turn the corner, but on the other…man, Hank Paulson is going to gloat about this for years. He’s insufferable enough when he’s wrong, can you even imagine what he’s going to b

lunar
09.04.2009, 23:10
09 April 2009

Obama's Failure and the Unfolding Financial Crisis (http://jessescrossroadscafe.blogspot.com/2009/04/impending-financial-collapse.html)


Kevin Phillips is a brilliant and insightfuly political commentator, and we have featured his videos and writings here many times.

His latest essay is worth reading over the long weekend.
"This is a much grander-scale disaster than anything that happened in 1929-33. Worse, it dwarfs the abuses of debt, finance and financialization that brought down previous leading world economic powers like Britain and Holland...

But for the moment, let me underscore: the average American knows little of the dimensions of the financial sector aggrandizement and misbehavior involved. Until this is remedied, there probably will not be enough informed, focused indignation to achieve far-reaching reform in the teeth of financial sector money and influence. Equivocation will triumph. This will not displease politicians and regulators leery of offending their contributors and backers."It is ironic that Joe Biden predicted that our Community-Organizer-in-Chief would be tested severely in his first days in office. At the time everyone thought it would be some foreign power, some military machine which would temper the character of this new leader with a significant threat to the national welfare.

Little did we suspect that the test of our sovereign republic would come from the Wall Street and the money center banks.


Table for One - TPMCafe (http://tpmcafe.talkingpointsmemo.com/table-for-one/)
The "Disaster Stage" of U.S. Financialization
By Kevin Phillips
April 7, 2009, 3:34PM

Thirty to forty years ago, the early fruits of financialization in this country - the first credit cards, retirement accounts , money market funds and ATM machines - struck most Americans as a convenience and boon. The savings and loan implosion and junk bonds of the 1980s switched on some yellow warning lights, and the tech bubble and market mania of the nineties flashed some red ones. But neither Wall Street nor Washington stopped or even slowed down.

In August, 2007, the housing-linked crisis of the credit markets predicted the arriving disaster-stage, the Crash of September-November 2008 confirmed the debacle, and now an angry, fearful citizenry awaits a further unfolding. There is probably no need to fear a second coming of nineteen-thirties Depression economics. This is not the same thing; the day-to-day pain shouldn't be as severe.

Indeed, for all that the 1930s evoke national trauma, that decade was in fact a waiting room for national glory and wellbeing. World War Two ushered in American global ascendancy, the "Happy Days" of the 1950s and an unprecedented middle-class prosperity.

Today's disaster stage of American financialization - the bursting of the huge 25-year, almost $50 trillion debt bubble that helped underwrite the hijacking of the U.S. economy by a rabid financial sector -- won't be nearly so kind. It is already ushering in the reverse: a global realignment in which the United States loses the global economic leadership won in World War Two. The ignominy deserved by Wall Street after 1929-1933 is peanuts compared with the opprobrium the U.S. financial sector and its political and regulatory allies deserve this time.

My 2002 book, Wealth and Democracy, in its section on the "Financialization of America" noted that the "finance, insurance and real estate (FIRE) sector overtook manufacturing during the 1990s, moving ahead in the national income and GDP charts by 1995. By the first years of the next decade, it had taken a clear lead in actual profits. Back in 1960, parenthetically, manufacturing profits had been four times as big, and in 1980, twice as big." Hardly anyone was paying attention.

By 2006, the FIRE sector, its components mixed together like linguine by the 1999 repeal of the old New Deal restraints against mergers of commercial banks, investment firms and insurance, had ballooned to 20.6% of U.S. GDP versus just 12% for manufacturing. The FIRE Sector, now calling itself the Financial Services Sector, lopsidedly dominated the private economy. A detailed chart appears on page 31 of Bad Money. Some New York publications and politicians try to insist that finance per se is only 8%, but the post-1999 commingling makes that absurd.

This represented a staggering transformation of the U.S. economy - doubly staggering now because of the crushing burden of its collapse. You would think that that opinion molders and the national media would have been probing its every aperture and orifice. Not at all.

Thus, it was pleasing to read MIT economics professor Simon Johnson's piece in the April Atlantic fingering financial "elites" who captured the government for the latterday financial debacle. This is broadly true, and judging from my e.mail, even some conservatives accept Johnson's analysis and indictment. After the furor over the AIG bonuses, the public and some politicians may be ready to start identifying and blaming culprits. This would be useful. Having an elite to blame is a often prerequisite of serious reform.

Nevertheless, the extremes of financialization, together with the havoc we now know it to have wrought, represent a much more complicated historical and economic genesis, one which U.S. leaders must be obliged to confront if not fully acknowledge. Elite avarice and culpability has multiple and longstanding dimensions. It has been fifteen years since Graef Crystal, a wellknown employment compensation expert, brought out his incendiary In Search of Excess: the Overcompensation of American Executives. The data was blistering. Over the last decade, New York Times reporter David Cay Johnston has published two books - Perfectly Legal and Free Lunch - describing how the U.S. tax code, in particular, has been turned into a feeding trough for the richest one percent of Americans (especially the richest one tenth of one percent).

The backstop to avarice provided by a wealth culture and market mania from the late 1980s through the Clinton years to the George W. Bush administration, prompted another set of indictments that still resonate: William Greider's Secrets of the Temple: How the Federal Reserve Runs The Country (1987), Robert Kuttner's Everything For Sale (1997), Thomas Frank's One Market Under God (2000) and John Gray's False Dawn (1998). More recently, Paul Krugman's books have been equalled or exceeded in timeliness by his New York Times columns blasting the perversity of the Obama-Geithner financial bail-out and the malfeasance of the financial sector.

James K. Galbraith, in his 2008 book The Predator State, has elaborated the valid point that too many conservatives over last few decades betrayed their free market rhetoric by supporting a relentless use of state power and government financial bail-outs to advance upper-income and corporate causes. On the other hand, some conservative economists of the Austrian school make related indictments of liberal bail-out penchants.

This could be a powerful framework. All of these critiques have merit, and ideally they might converge as earlier indictments of elite and governmental abuse did during the Progressive and New Deal eras. But I have to return to whether the public will ever be given full information on the fatal magnitude of financialization, who was responsible, and how it failed and crashed in 2007-2009. So far, political and media discussion has been so minimal that the early 21st century American electorate has much less readily available information on what took place than did the electorates of those earlier reform eras.

Towards this end, my initial emphasis in the new material included in the 2009 edition of Bad Money is on what techniques, practices and leverage the financial sector used between the mid-1980s and 2007 to metastasize early-stage financialization into an economic and governmental coup and, ultimately, a national disaster.

Perhaps not surprisingly, I found that the principal building blocks that the sector used to enlarge itself from 10-12% of Gross National Product around 1980 to a mind-boggling 20.6% of Gross Domestic Product in 2004 involved essentially the same combination of credit-mongering, massive sector borrowing, highly leveraged speculation, reckless, greedy pioneering of new experimental vehicles and securities (derivatives and securitization) and mega-trillion-dollar abuse of the mortgage and housing markets that became infamous as hallmarks of the 2007-2009 disaster. During Alan Greenspan's 1987-2006 tenure as Federal Reserve Chairman, financial bubble-blowing became a Washington art and total credit market debt in the U.S. quadrupled from $11 trillion to $46 trillion.

To try to put 20-30 pages into a nutshell, the financial sector hyped consumer demand - from teen-ager credit cards to mortgages for the unqualified - to make credit into one of the nation's biggest industries; nearly $15 trillion was borrowed over two decades to leverage de facto gambling at 20:1 and 30:1 ratios; banks, investment firms, mortgage lenders, insurers et al were all merged together to do almost anything they wanted; exotic securities and instruments that even investment chiefs couldn't understand were marketed by the trillions. To achieve fat financial-sector profits, the housing and mortgage markets might as well have been merged with Las Vegas.

The principal inventors, hustlers , borrowers and culprits were the nation's 15-20 largest and best known financial institutions - including the ones that keep making headlines by demanding more bail-out money from Washington and giving huge bonuses. These same institutions got much of the early bail-out money and as of December 2008 they accounted for over half of the bad assets written off.

The reason these needed so much money is that they government had let them merge, speculate, expand and experiment on dimensions beyond all logic. That is why the complicit politicians and regulators have to talk about $100 billion here and $1 trillion there even while they pretend that it's all under control and that the run-amok financial sector remains sound.

This is a much grander-scale disaster than anything that happened in 1929-33. Worse, it dwarfs the abuses of debt, finance and financialization that brought down previous leading world economic powers like Britain and Holland (back when New York was New Amsterdam). I will return to these little-mentioned precedents in another post this week.

But for the moment, let me underscore: the average American knows little of the dimensions of the financial sector aggrandizement and misbehavior involved. Until this is remedied, there probably will not be enough informed, focused indignation to achieve far-reaching reform in the teeth of financial sector money and influence. Equivocation will triumph. This will not displease politicians and regulators leery of offending their contributors and backers.


Posted by Jesse at 11:00 AM (http://jessescrossroadscafe.blogspot.com/2009/04/impending-financial-collapse.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=6886564338295413246) :verbeug

.....wenn man bedenkt wie positiv Jesse (und viele andere inkl. mir) für Obama gestimmt war - da entwickelt sich ein (noch gröseres) Disaster :( es sei denn Obama kann sich befreien von dem Klüngel der ihn jetzt umgibt :rolleyes

lunar
10.04.2009, 12:24
http://www.airport-bowl.com/images/stories/happyeaster.jpg :)

lunar
10.04.2009, 13:19
Business (http://www.huffingtonpost.com/business/)

[/url][url="http://bloomberg.com/apps/news?pid=20601087&sid=aEX9sBcofMYY&refer=home"]Fed Telling Banks To Keep Quiet On "Stress Test" Results (http://www.huffingtonpost.com/business/)

http://images.huffingtonpost.com/gen/73922/thumbs/s-TIM-GEITHNER-large.jpg (http://bloomberg.com/apps/news?pid=20601087&sid=aEX9sBcofMYY&refer=home)

.....die neue Offenheit :rolleyes:o:mad

lunar
11.04.2009, 21:12
11 April 2009

G7 Industrial Production Crashing (http://jessescrossroadscafe.blogspot.com/2009/04/g7-industrial-production-crashing.html)


The production of real goods in the developed nations is plummeting. Even the mighty export driven economy of Japan appears to be heading lower.

Countries must begin to encourage consumption in their own economies. To do this, they ought not to be stimulating the old credit/speculation machine called the neo-liberal financial system.

Real economic growth is to be found in a broad employment and consumption, and an increase of the median wage.

This is the deep flaws in much of the third world economies, especially in Asia and Latin America. Economic health can be measured by the size and well being of the middle class in a relatively free society.

The reason is simple. Individuals can only borrow so much before they are unable to service the debt. And the greedy few can only spend so much on consumption using the wealth which the tax and financial system has delivered to them from the many.

Gaming the system so that it overtaxes the income of the many for theincreasing benefit of a few has natural limitations, unless one can enforce a type of involuntary servitude. This model has its roots far back in history, in empires like Rome, Egypt, and Sparta.

As the elite few accumulate real assets using their surplus, they will find that holding on to their wealth as the rest of society deteriorates in a downward spiral of privation can be a bit of a challenge.

Until the financial system is reformed and the economy is brought back into a balance, there will be no recovery, and the fabric of order will remain fragile.

If things continue on as they are, despite all the stimulus and fine rhetoric, the madness will once again be unleashed on the earth, and the people will wonder from whence it came, as they do each time it rises from the same sources and ravages civilization: unbridled greed, malinvestment, and corruption.


http://2.bp.blogspot.com/_H2DePAZe2gA/SeDhcl0B7GI/AAAAAAAAI3k/-1XHGdKyyZU/s400/g7industrialproduct.jpg (http://2.bp.blogspot.com/_H2DePAZe2gA/SeDhcl0B7GI/AAAAAAAAI3k/-1XHGdKyyZU/s1600-h/g7industrialproduct.jpg)

Thanks to Diapason Trading for this chart.





Posted by Jesse at 2:28 PM (http://jessescrossroadscafe.blogspot.com/2009/04/g7-industrial-production-crashing.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=6571572007205291041):verbeug

lunar
11.04.2009, 21:27
In Calif., Medical Marijuana Laws Are Moving Pot Into Mainstream

By Karl Vick (http://projects.washingtonpost.com/staff/email/karl+vick/)
Washington Post Staff Writer
Sunday, April 12, 2009; Page A01


LOS ANGELES -- With little notice and even less controversy, marijuana is now available as a medical treatment in California to almost anyone who tells a willing physician he would feel better if he smoked. :supi

Pot is now retailed over the counter in hundreds of storefronts across Los Angeles and is credited with reviving a section of downtown Oakland, where an entrepreneur sells out classes offering "quality training for the cannabis industry." The tabloid LA Journal of Education for Medical Marijuana is fat with ads for Magic Purple, Strawberry Cough and other offerings in more than 400 "dispensaries" operating in the city......

full story: http://www.washingtonpost.com/wp-dyn/content/article/2009/04/11/AR2009041100767.html?hpid=topnews

:kiff:kiff:kiff

lunar
11.04.2009, 21:33
NEUE DATENAFFÄRE

E-Mails über Schmutzkampagne blamieren britische Regierung (http://www.spiegel.de/politik/ausland/0,1518,618667,00.html)

Erneute Datenpanne in der britischen Regierung: Ein hochrangiger Berater von Premierminister Gordon Brown hat E-Mails über eine geplante politische Schmutzkampagne an einen Blogger geschickt. Prompt landeten die Schreiben in der Presse. mehr... (http://www.spiegel.de/politik/ausland/0,1518,618667,00.html)

:Prost :bad

lunar
13.04.2009, 13:05
Bailed-Out Banks Face Probe Over Fee Hikes (http://online.wsj.com/article/SB123958015246312123.html)

Wall Street Journal | DAVID ENRICH, MARSHALL ECKBLAD and MAURICE TAMMAN | 04/12/09


http://images.huffingtonpost.com/gen/61819/thumbs/s-BOFA-large.jpg




Comments (http://www.huffingtonpost.com/2009/04/12/bailedout-banks-face-prob_n_186043.html#comments)
Wall Street Journal:

The committee overseeing federal banking-bailout programs is investigating the lending practices of institutions that received public funds, following a rash of complaints about increases in interest rates and fees.

Since the Troubled Asset Relief Program was launched last October, banks bolstered by capital infusions have boosted charges on a wide range of routine transactions, hiked rates on credit cards and continued making loans criticized as predatory by consumer advocates. The TARP funds are intended to open lending spigots and make it easier for people to borrow money.

Read the whole story: Wall Street Journal (http://online.wsj.com/article/SB123958015246312123.html)


:mad
(http://online.wsj.com/article/SB123958015246312123.html)

lunar
13.04.2009, 13:06
Navy: Pirates Were About To Kill Captain Phillips (http://www.huffingtonpost.com/2009/04/12/captain-richard-phillips_n_185983.html)

http://images.huffingtonpost.com/gen/74236/thumbs/s-CAPTAIN-PHILLIPS-VIDEO-large.jpg (http://www.huffingtonpost.com/2009/04/12/captain-richard-phillips_n_185983.html)

Read Details Of Rescue Operation... Pirates Vow Revenge... (http://www.huffingtonpost.com/2009/04/12/captain-richard-phillips_n_185983.html)WATCH: Phillips After His Rescue... (http://www.huffingtonpost.com/2009/04/12/captain-phillips-right-af_n_186027.html) AP: Obama Passes First National Security Test (http://www.huffingtonpost.com/2009/04/12/analysis-obama-beats-firs_n_186028.html)




Michael Vazquez: Why We Don't Condemn Our Pirates (http://www.huffingtonpost.com/michael-vazquez/on-pirates_b_186015.html)


Quick Read (http://www.huffingtonpost.com/2009/04/12/captain-richard-phillips_n_185983.html) |
Comments (8501) (http://www.huffingtonpost.com/2009/04/12/captain-richard-phillips_n_185983.html)
| Somalia (http://www.huffingtonpost.com/news/somalia)

lunar
13.04.2009, 13:09
NOTSTAND IN BANGKOK

Thailands Armee feuert auf Demonstranten (http://www.spiegel.de/politik/ausland/0,1518,618730,00.html)

http://www.spiegel.de/img/0,1020,1491776,00.jpg (http://www.spiegel.de/politik/ausland/0,1518,618730,00.html)REUTERS

Tränengas, Schüsse, Dutzende Verletzte: In Thailands Hauptstadt Bangkok eskaliert die Lage. Laut Armee haben sich Demonstranten und Soldaten gegenseitig beschossen. Mehr als 40.000 Menschen versammelten sich zu Protesten, Beobachter schließen einen Putsch nicht mehr aus. mehr... (http://www.spiegel.de/politik/ausland/0,1518,618730,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6847) ]



http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifFotostrecke: Bangkok im Ausnahmezustand (http://www.spiegel.de/fotostrecke/fotostrecke-41492.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifNotstand in Bangkok: Ex-Premier ruft Thailänder zur Revolution auf (http://www.spiegel.de/politik/ausland/0,1518,618713,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifBangkok: Thailands Premier droht Demonstranten mit hartem Durchgreifen (http://www.spiegel.de/politik/ausland/0,1518,618687,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifProteste: Thailändische Regierung verhängt Ausnahmezustand in Bangkok (http://www.spiegel.de/politik/ausland/0,1518,618680,00.html)

lunar
13.04.2009, 13:14
...uf schwiezerdütsch ;)

Börsen-Talk mit Marc Faber: «Aktien steigen bis Juli»

http://img.cash.ch/news/235/3729_Faber%5FMarc%5FTeaser.jpg (http://www.cash.ch/news/front/boersentalk_mit_marc_faber_aktien_steigen_bis_juli-776222-449)
11.04.09, 13:00
(http://www.cash.ch/news/front/boersentalk_mit_marc_faber_aktien_steigen_bis_juli-776222-449)Nach einer Korrektur von bis zu 10 Prozent könnten die Börsen bis Mitte Jahr wieder ansteigen, sagt Börsenguru Marc Faber im cash-Börsen-Talk. Er kritisiert die Schweizer Politik in Sachen Bankgeheimnis. (http://www.cash.ch/news/front/boersentalk_mit_marc_faber_aktien_steigen_bis_juli-776222-449)mehr » (http://www.cash.ch/news/front/boersentalk_mit_marc_faber_aktien_steigen_bis_juli-776222-449)





http://img.cash.ch/fcm/icons/img_empty.gif audio (http://www.cash.ch/video/start.php?firstProjectID=10283) Das ganze Interview mit Marc Faber (http://www.cash.ch/video/start.php?firstProjectID=10283)mehr » (http://www.cash.ch/video/start.php?firstProjectID=10283)
http://img.cash.ch/fcm/icons/img_empty.gif (http://www.cash.ch/umfrage) Liegt Börsenguru Marc Faber mit seiner... (http://www.cash.ch/umfrage)mehr » (http://www.cash.ch/umfrage)

lunar
13.04.2009, 19:51
AP: Obama Beats First National Security Test (http://www.huffingtonpost.com/2009/04/12/analysis-obama-beats-firs_n_186028.html)

http://images.huffingtonpost.com/gen/74367/thumbs/s-PIRATESAGAIN-large.jpg (http://www.huffingtonpost.com/2009/04/12/analysis-obama-beats-firs_n_186028.html)



Quick Read (http://www.huffingtonpost.com/2009/04/12/analysis-obama-beats-firs_n_186028.html) |
Comments (667) (http://www.huffingtonpost.com/2009/04/12/analysis-obama-beats-firs_n_186028.html)

Hoka
13.04.2009, 21:46
Stress Testing the Stress Test Scenarios: Actual Macro Data Are Already Worse than the More Adverse Scenario for 2009 in the Stress Tests. So the Stress Tests Fail the Basic Criterion of Reality Check Even Before They Are Concluded (http://www.rgemonitor.com/roubini-monitor/256382/stress_testing_the_stress_test_scenarios_actual_macro_data_are_already_worse_than_the_more_adverse_scenario_for_2009_in_the_stress_tests_so_the_stress_tests_fail_the_basic_criterion_of_reality_check_even_before_they_are_concluded)


Nouriel Roubini (http://www.rgemonitor.com/roubini-monitor/bio/nouriel/nouriel_roubini) | Apr 13, 2009

The spin machine about the banks’ stress test is already in full motion; some banking regulators have already leaked to the New York Times the spin that all 19 banks who are subject to the stress test will pass it, i.e. none of them will fail it (http://www.nytimes.com/2009/04/09/business/09bank.html?_r=1).

But if you look at the actual data today macro data for Q1 on the three variables used in the stress tests – growth rate, unemployment rate, and home price depreciation – are already worse than those in FDIC baseline scenario for 2009 AND even worse than those for the more adverse stressed scenario for 2009. Thus, the stress test results are meaningless as actual data are already running worse than the worst case scenario....


http://www.stock-channel.net/stockselect/stock-board/images/smilies/rolleyes.gif Scheint kein Witz zu sein.

lunar
14.04.2009, 08:44
....Obama umgibt sich mit all diesen alten Knackies :rolleyes

WSJ: Obama Taps Fannie Mae Chief Allison To Run Bailout (http://online.wsj.com/article/SB123966400746315067.html)

http://images.huffingtonpost.com/gen/74452/thumbs/s-HERB-ALLISON-large.jpg (http://online.wsj.com/article/SB123966400746315067.html)



Quick Read (http://www.huffingtonpost.com/2009/04/13/herb-allison-fannie-mae-c_n_186451.html) |
Comments (http://www.huffingtonpost.com/2009/04/13/herb-allison-fannie-mae-c_n_186451.html)

lunar
14.04.2009, 09:03
Mon 13 Apr 2009

GS: Bullish on Muzzles (http://lolfed.com/2009/04/13/gs-bullish-on-muzzles/)

Posted by alyx under goldman sachs (http://lolfed.com/category/goldman-sachs/)
[5] Comments (http://lolfed.com/2009/04/13/gs-bullish-on-muzzles/#comments)


At Goldman Sachs, I guess their instructions for the blogosphere roughly sum up to what I’ve been told since I was five or so (but never exercised in practice): If you can’t say anything nice, don’t say anything at all. At least that’s their instructions (http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5137489/Goldman-Sachs-hires-law-firm-to-shut-bloggers-site.html) to Goldman Sachs 666 (http://www.goldmansachs666.com/):The bank has instructed Wall Street law firm Chadbourne & Parke to pursue blogger Mike Morgan, warning him in a recent cease-and-desist letter that he may face legal action if he does not close down his website.

Florida-based Mr Morgan began a blog entitled “Facts about Goldman Sachs” – the web address for which is goldmansachs666.com (http://www.goldmansachs666.com/) – just a few weeks ago.

In that time Mr Morgan, a registered investment adviser, has added a number of posts to the site, including one entitled “Does Goldman Sachs run the world?”. However, many of the posts relate to other Wall Street firms and issues.


According to Chadbourne & Parke’s letter, dated April 8, the bank is rattled because the site “violates several of Goldman Sachs’ intellectual property rights” (....das heisst vielleicht die Leute auf GS-intellektuelle-Art-und-Weise über den Tsich ziehen :confused:rolleyes:mad) and also “implies a relationship” with the bank itself.

I’ve gotten C&D’s before, not for this website but for others (and we sent a fun one at my day-job not that long ago) — unless someone is blatantly raising cash off the infringed trademark, most efforts to shut down websites are basically toothless. Sounds like “Mr. 666″ knows this, as he’s fought Lennar on these points before. All this has served to do is bring national attention to the Goldman Sachs 666 site, thus giving it that “where there’s smoke there’s fire” credibility that leads you to believe Morgan may be on to something. Worth checking out whether you’re a GS conspiracy theorist or not.

This can’t be new territory for Goldman either. From 2002-2004, GoldmanSuchs.com collected anecdotes from employees and speculated on GS’s demise. The last version of the site as captured by the Internet Wayback Machine can be seen here (http://web.archive.org/web/20040206065223/http://goldmansuchs.com/).

EDITED TO ADD: Mike Morgan is now asking a court to assert his rights (http://www.morganfl.org/assets/mikesblog/GoldmanSachs666_Complaint.PDF). Impressive.

(h/t to Ryan Zent for the story idea)

************************************

Goldman Sachs hires law firm to shut blogger's site

Goldman Sachs is attempting to shut down a dissident blogger who is extremely critical of the investment bank, its board members and its practices.

By James Quinn, Wall Street Correspondent
Last Updated: 2:16PM BST 11 Apr 2009


The bank has instructed Wall Street law firm Chadbourne & Parke to pursue blogger Mike Morgan, warning him in a recent cease-and-desist letter that he may face legal action if he does not close down his website.

Florida-based Mr Morgan began a blog entitled "Facts about Goldman Sachs" – the web address for which is goldmansachs666.com (http://www.goldmansachs666.com/) – just a few weeks ago.........

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/5137489/Goldman-Sachs-hires-law-firm-to-shut-bloggers-site.html


***************************************

Monday, April 13, 2009

Mike Morgan v. Goldman Sachs - Complaint and Summons (http://www.goldmansachs666.com/2009/04/mike-morgan-v-goldman-sachs-complaint.html)

David didn't beat Goliath by waiting till Goliath threw the first punch, so we thought that strategy worked pretty well . . . and we decided to follow it. Today we filed a Complaint in the United States District Court against Goldman Sachs........
http://www.goldmansachs666.com/


********************************************

...es ist und bleibt :bad GS :bad

lunar
14.04.2009, 09:11
Stress Testing the Stress Test Scenarios: Actual Macro Data Are Already Worse than the More Adverse Scenario for 2009 in the Stress Tests. So the Stress Tests Fail the Basic Criterion of Reality Check Even Before They Are Concluded (http://www.rgemonitor.com/roubini-monitor/256382/stress_testing_the_stress_test_scenarios_actual_macro_data_are_already_worse_than_the_more_adverse_scenario_for_2009_in_the_stress_tests_so_the_stress_tests_fail_the_basic_criterion_of_reality_check_even_before_they_are_concluded)


Nouriel Roubini (http://www.rgemonitor.com/roubini-monitor/bio/nouriel/nouriel_roubini) | Apr 13, 2009

The spin machine about the banks’ stress test is already in full motion; some banking regulators have already leaked to the New York Times the spin that all 19 banks who are subject to the stress test will pass it, i.e. none of them will fail it (http://www.nytimes.com/2009/04/09/business/09bank.html?_r=1).

But if you look at the actual data today macro data for Q1 on the three variables used in the stress tests – growth rate, unemployment rate, and home price depreciation – are already worse than those in FDIC baseline scenario for 2009 AND even worse than those for the more adverse stressed scenario for 2009. Thus, the stress test results are meaningless as actual data are already running worse than the worst case scenario....


http://www.stock-channel.net/stockselect/stock-board/images/smilies/rolleyes.gif Scheint kein Witz zu sein.

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1232201#post1232201)
...was kann man da noch sagen/denken :confused:rolleyes es geht ja alles im gehabten Stil weiter :bad

lunar
14.04.2009, 09:18
Goldman Handily Beats Estimates, Plans $5B Stock Sale to Repay TARP

Posted Apr 13, 2009 04:43pm EDT by Aaron Task (http://finance.yahoo.com/tech-ticker/author/Aaron-Task) Related: GS (http://finance.yahoo.com/q?s=GS), XLF (http://finance.yahoo.com/q?s=XLF), SKF (http://finance.yahoo.com/q?s=SKF), FAS (http://finance.yahoo.com/q?s=FAS), FAZ (http://finance.yahoo.com/q?s=FAZ), SPY (http://finance.yahoo.com/q?s=SPY)

http://l.yimg.com/us.yimg.com/p/us/news/editorial/d/19/d19cffdc57c8e386cb47fbf8360e56de.jpegGoldman Sachs jumped the gun on earnings after the close Monday and confirmed expectations of a stock sale, with proceeds slated to repay TARP funds.A day ahead of its scheduled earnings report, Goldman reported first-quarter earnings of $3.39 per share (http://finance.yahoo.com/news/Goldman-Sachs-Reports-First-bw-14913219.html) vs. analysts' consensus estimate of $1.59 and a loss of $4.97 per share in the fourth quarter.

The upside surprise (...surprise, surprise :bad:dumm) is the latest in a string of good news from the financial sector, which overcame early weakness to rally again on Monday - with Goldman leading the way. (After rallying 4.7% to $130.13 in regular trading, Goldman shares were recently above $132 in after-hours activity.)......

http://finance.yahoo.com/tech-ticker/article/230767/Goldman-Handily-Beats-Estimates%2C-Plans-%245B-Stock-Sale-to-Repay-TARP


.....einige Kommentare:

Why not appoint GS guys everywhere (http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=369925&mid=369925&tof=3&rt=2&frt=2&off=1)
SEC FED Supreme court FBI. CIA Pentagon Everyt...
toulouse_20... (http://messages.finance.yahoo.com/profile?bn=8089&mid=369925) http://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gif (http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=369925&mid=369925&tof=3&rt=2&frt=2&off=1) 14-Apr-09 01:44 am
Re: Why not appoint GS guys everywhere (http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=369925&mid=369933&tof=3&rt=2&frt=2&off=1)
it is everywhere. i guarantee it has contacts in ...
traderpro20... (http://messages.finance.yahoo.com/profile?bn=8089&mid=369933) http://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gif (http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=369925&mid=369933&tof=3&rt=2&frt=2&off=1) 14-Apr-09 01:46 am
Re: Why not appoint GS guys everywhere (http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_G/threadview?m=tm&bn=8089&tid=369925&mid=369940&tof=3&rt=2&frt=2&off=1)
The damage done to the social fabric of this count...
millbel (http://messages.finance.yahoo.com/profile?bn=8089&mid=369940) http://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gifhttp://us.i1.yimg.com/us.yimg.com/i/us/mb/star_red_s.gif 14-Apr-09 01:50 am

lunar
14.04.2009, 09:25
:supi Lesestoff :cool

The Crisis of Our Democracy: Corruption in the Financial Markets and Obama's Failure to Reform (http://jessescrossroadscafe.blogspot.com/2009/04/crisis-of-our-democracy-corruption-in.html)


This interview with William Black in Barron's is an articulate and reasonably detailed summary of our own view of the current crisis from an exceptionally well-informed and experienced source.

The big question in our own mind is the depth of complicity and the motivations of the government, the media and major institutions in continuing to support this financial corruption through silence or participation.

Is Obama really merely listening to the wrong advice from highly placed sources in the Democratic Party? And how sincere are they? The record of corruption in the Obama Administration in the form of conflicts of interest and tax evasion is already the smoke that warns of fire.

All good questions, more relating to the length of time to a cure rather than its essential character.

The banks must be restrained, the financial system must be reformed, before there can be a sustained economic recovery.


Barron's (http://online.barrons.com/article/SB123940701204709985.html)
The Lessons of the Savings-and-Loan Crisis
By Jack Willoughby
11 April 2009

AN INTERVIEW WITH WILLIAM BLACK: The current bank scandal dwarfs the 1980s savings-and-loan crisis -- and could destroy the Obama presidency.

WILLIAM BLACK CALLS THEM AS HE SEES THEM, which is why we enjoy talking with him. Black, 57 years old, was a deputy director at the former Federal Savings and Loan Insurance Corp. during the thrift crisis of the 1980s, and now serves as an associate professor, teaching economics and law at the University of Missouri, Kansas City. At FSLIC, a government agency that insured S&L deposits, Black prevailed in showdowns with the powerful Democratic Speaker of the House, Jim Wright, and helped identify the infamous Keating Five, a group of U.S. senators (including Sen. John McCain, the Arizona Republican who lost his bid for the presidency in 2008) who tried to quash his attempt to close Charles Keating's Lincoln Savings & Loan. Wright eventually resigned amid unrelated ethics charges, and the senators were reprimanded for poor judgment. Keating went to jail for securities fraud.

For Black's provocative thoughts on the current financial crisis, read on.


Barron's: Just how serious is this credit crisis? What is at stake here for the American taxpayer?

Black: Mopping up the savings-and-loan crisis cost $150 billion; this current crisis will probably cost a multiple of that. The scale of fraud is immense. This whole bank scandal makes Teapot Dome [of the 1920s] look like some kid's doll set. Unless the current administration changes course pretty drastically, the scandal will destroy Barack Obama's presidency. The Bush administration was even worse. But they are out of town. This will destroy Obama's administration, both economically and in terms of integrity.

So you are saying Democrats as well as Republicans share the blame? No one can claim the high ground?

We have failed bankers giving advice to failed regulators on how to deal with failed assets. How can it result in anything but failure? If they are going to get any truthful investigation, the Democrats picked the wrong financial team. Tim Geithner, the current Secretary of the Treasury, and Larry Summers, chairman of the National Economic Council, were important architects of the problems. Geithner especially represents a failed regulator, having presided over the bailouts of major New York banks.

So you aren't a fan of the recently announced plan for the government to back private purchases of the toxic assets?

It is worse than a lie. Geithner has appropriated the language of his critics and of the forthright to support dishonesty. That is what's so appalling -- numbering himself among those who convey tough medicine when he is really pandering to the interests of a select group of banks who are on a first-name basis with Washington politicians.

The current law mandates prompt corrective action, which means speedy resolution of insolvencies. He is flouting the law, in naked violation, in order to pursue the kind of favoritism that the law was designed to prevent. He has introduced the concept of capital insurance, essentially turning the U.S. taxpayer into the sucker who is going to pay for everything. He chose this path because he knew Congress would never authorize a bailout based on crony capitalism.

Geithner is mistaken when he talks about making deeply unpopular moves. Such stiff resolve to put the major banks in receivership would be appreciated in every state but Connecticut and New York. His use of language like "legacy assets" -- and channeling the worst aspects of Milton Friedman -- is positively Orwellian. Extreme conservatives wrongly assume that the government can't do anything right. And they wrongly assume that the market will ultimately lead to correct actions. If cheaters prosper, cheaters will dominate. It is like Gresham's law: Bad money drives out the good. Well, bad behavior drives out good behavior, without good enforcement.

His plan essentially perpetuates zombie banks by mispricing toxic assets that were mispriced to the borrower and mispriced by the lender, and which only served the unfaithful lending agent.

We already know from the real costs -- through the cleanups of IndyMac, Bear Stearns, and Lehman -- that the losses will be roughly 50 to 80 cents on the dollar. The last thing we need is a further drain on our resources and subsidies by promoting this toxic-asset market. By promoting this notion of too-big-to-fail, we are allowing a pernicious influence to remain in Washington. The truth has a resonance to it. The folks know they are being lied to.

I keep asking myself, what would we do in other avenues of life? What if every time we had a plane crash we said: 'It might be divisive to investigate. We want to be forward-looking.' Nobody would fly. It would be a disaster.

We know that with planes, every time there is an accident, we look intensively, without the interference of politics. That is why we have such a safe industry.

Summarize the problem as best you can for Barron's readers.

With most of America's biggest banks insolvent, you have, in essence, a multitrillion dollar cover-up by publicly traded entities, which amounts to felony securities fraud on a massive scale.

These firms will ultimately have to be forced into receivership, the management and boards stripped of office, title, and compensation. First there needs to be a clearing of the air -- a Pecora-style fact-finding mission conducted without fear or favor. [Ferdinand Pecora was an assistant district attorney from New York who investigated Wall Street practices in the 1930s.] Then, we need to gear up to pursue criminal cases. Two years after the market collapsed, the Federal Bureau of Investigation has one-fourth of the resources that the agency used during the savings-and-loan crisis. And the current crisis is 10 times as large.

There need to be major task forces set up, like there were in the thrift crisis. Right now, things don't look good. We are using taxpayer money via AIG to secretly bail out European banks like Société Générale, Deutsche Bank, and UBS -- and even our own Goldman Sachs. To me, the single most obscene act of this scandal has been providing billions in taxpayer money via AIG to secretly bail out UBS in Switzerland, while we were simultaneously prosecuting the bank for tax fraud. The second most obscene: Goldman receiving almost $13 billion in AIG counterparty payments after advising Geithner, president of the New York Fed, and then-Treasury Secretary Henry Paulson, former Goldman Sachs honcho, on the AIG government takeover -- and also receiving government bailout loans.

What, then, is staying the federal government's hand? Have the banks become too difficult or complex to regulate?

The government is reluctant to admit the depth of the problem, because to do so would force it to put some of America's biggest financial institutions into receivership. The people running these banks are some of the most well-connected in Washington, with easy access to legislators. Prompt corrective action is what is needed, and mandated in the law. And that is precisely what isn't happening.

The savings-and-loan crisis showed that, too often, the regulators became too close to the industry, and run interference for friends by hiding the problems.

Can you explain your idea of control fraud, and how it applies to the current banking and the earlier thrift crisis?

Control fraud is when a seemingly legitimate corporation uses its power as a weapon to defraud or take something of value through deceit.

In the savings-and-loan crisis, thrifts engaged in control frauds in order to survive. Accounting trickery proved to be the weapon of choice. It is at work today with the banks, and it is their Achilles heel. You report that you are highly profitable when you engage in accounting-control fraud, not only meeting but exceeding capital requirements. These accounting frauds create huge bubbles, which in turn create large bonuses, which in turn lead to huge losses.

Why then is there so much smoke and so little action?

First, they are inundated by the problem. They are trying to investigate the major problems with severely depleted staffs. Honestly. We have lost the ability to be blunt. Now we have a situation where Treasury Secretary Geithner can speak of a $2 trillion hole in the banking system, at the same time all the major banks report they are well-capitalized. And you have seen no regulatory action against what amounts to a $2 trillion accounting fraud. The reason we don't see it -- aren't told about it -- is that if they were honest, prompt corrective action would kick in, and they would have to deal with the problem banks.

Are there any parallels between the current crisis and the savings-and-loan crisis that give you hope?

Of course. Objectively, our case was even more hopeless in the S&L debacle than in the current crisis. If we were able to do it in such an impossible circumstance back then, we have reason for hope in the current crisis. I know how easily things can get off course and how quickly things can turn back again. The thrift crisis went through several lengthy courses and distortions before it finally was resolved under the leadership of Edwin Gray, the chairman of the Federal Home Loan Bank Board, which oversaw FSLIC.

We went through almost a decade of cover-ups by a Washington establishment intent on helping thrift owners. Back then, we had the Justice Department threatening to indict Gray, the head of a federal agency, for closing too many thrifts. Next, there were those so-called resolutions, where the regulators worked day and night -- to create even bigger problems for the FSLIC. Years later, these so-called resolution deals had to be unwound at great expense by closing down even larger failures. Or how about the bill to replenish the depleted thrift-insurance fund that was blocked and delayed by then-Speaker of the House, Texas congressman Jim Wright?

You say the evidence of a breakdown in the regulatory structure comes from the fact that America avoided an earlier subprime crisis in the 1990s.

Exactly. Why had no one heard of the subprime crisis back in 1991? Because America's regulators also faced down the crisis early. The same thing happened with bad credits being securitized in the secondary market. Remember the low-doc or no-doc mortgages done by Citibank? Well, the problem didn't spread -- because regulators intervened.

Obama, who is doing so well in so many other arenas, appears to be slipping because he trusts Democrats high in the party structure too much.

These Democrats want to maintain America's pre-eminence in global financial capitalism at any cost. They remain wedded to the bad idea of bigness, the so-called financial supermarket -- one-stop shopping for all customers -- that has allowed the American financial system to paper the world with subprime debt. Even the managers of these worldwide financial conglomerates testify that they have become so sprawling as to be unmanageable.

What needs to be done?

Well, these international behemoths need to be broken down into smaller units that can be managed effectively. Maybe they can be broken up the way that the Standard Oil split up back in the early 1900s, through a simple share spinoff.

The big problem for the last decade is that we have had too much capacity in the finance sector -- too many banks have represented a drain on our talent and resources. All these mergers haven't taken capacity out of the system. They have created even bigger banks that concentrate risk to the taxpayer, and put off dealing with problems.

And a new seriousness must be put into regulation. We don't necessarily need new rules. We just need folks who can enforce the ones already on the books.

The bank-compensation system also creates an environment that leads to mismanagement and fraud. No one has to tell someone they have to stretch the numbers. It is all around them. It is in the rank-or-yank performance and retention systems advocated by top business executives. Here, the top 20% get the bulk of the benefits and the bottom 10% get fired. You don't directly tell your employees you want them to lie and cheat. You set up an atmosphere of results at any cost. Rank or yank. Sooner rather than later, someone comes up with the bright idea of fudging the numbers. That's big bonuses for the folks who make the best numbers. It sends the message -- making the numbers is what is most important. There is a reason that the average tenure of a chief financial officer is three years.

Compensation systems like I have just described discourage whistleblowing -- the most common way that frauds are found in America -- because the system draws upon the cooperation of everyone.

The basis for all regulation and white-collar crime is to take the competitive advantage away from the cheats, so the good guys can prevail. We need to get back to that.

Thanks, Bill.


Posted by Jesse at 11:12 AM (http://jessescrossroadscafe.blogspot.com/2009/04/crisis-of-our-democracy-corruption-in.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=6574303999383428166) :verbeug

lunar
14.04.2009, 18:51
"WE CANNOT REBUILD THIS ECONOMY ON THE SAME PILE OF SAND" (http://www.huffingtonpost.com/2009/04/14/obama-economy-speech-majo_n_186559.html)

http://images.huffingtonpost.com/gen/74554/thumbs/r-OBAMASPEECH-huge.jpg (http://www.huffingtonpost.com/2009/04/14/obama-economy-speech-majo_n_186559.html)


Read The Rest Of Obama's Tough Speech On The Economy: We Will Hold People Responsible For This Crisis... Re-Make 20th Century Rules That Got Us Here (http://www.huffingtonpost.com/2009/04/14/obama-economy-speech-majo_n_186559.html)








Quick Read (http://www.huffingtonpost.com/2009/04/14/obama-economy-speech-majo_n_186559.html) |
Comments (173) (http://www.huffingtonpost.com/2009/04/14/obama-economy-speech-majo_n_186559.html)
| Obama's First 100 Days (http://www.huffingtonpost.com/news/100-days)
mit Video: http://www.huffingtonpost.com/2009/04/14/obama-economy-speech-majo_n_186559.html
*******************************************

.....ich hab noch nix gelesen - aber die Überschrift :rolleyes auf Sand oder auf alten Krücken, ist wohl gehupft wie gesprungen :o na ja vielleicht kommt's ja noch :entlein

lunar
14.04.2009, 18:53
14 April 2009

SP Futures Hourly Chart and Rally Update (http://jessescrossroadscafe.blogspot.com/2009/04/sp-futures-hourly-chart-and-rally.html)


http://3.bp.blogspot.com/_H2DePAZe2gA/SeSaHFg8EDI/AAAAAAAAI4M/IcR550yy0OQ/s320/mrwallstreet.JPG (http://3.bp.blogspot.com/_H2DePAZe2gA/SeSaHFg8EDI/AAAAAAAAI4M/IcR550yy0OQ/s1600-h/mrwallstreet.JPG)This rally looks increasingly artificial and is led by buying in the SP futures, which was the trademark intervention established when Robert Rubin was Treasury Secretary.

This does not mean it cannot go higher, as the markets are awash in liquidity with no productive outlets that can compete with the easy returns of the hot money speculation machine.

Goldman Sachs, for example, is taking cheap money from the Fed and from funds guaranteed by the FDIC and turning them into profits by gaming the commodity and equity markets. This is what passes for banking in the US in this time of excess and imbalance.

It does imply that on news this rally could turn lower with some serious momentum.

What is lacking is solid volume underneath this rally. If buying appears from real investors as opposed to speculators then it may continue.

For now this rebound in US equities a slow short squeeze probably led by the momentum traders and by the bankers who met with Obama at the White House.

We'll know more when Obama produces the details of his discussions with them in keeping with the transparency he has promised. Or are the bankers to Obama what the oil companies were to Cheney?

The banks must be restrained, and the financial system reformed, before we can have a meaningful economic recovery.

mit Charts: http://jessescrossroadscafe.blogspot.com/2009/04/sp-futures-hourly-chart-and-rally.html

lunar
14.04.2009, 18:59
Tue 14 Apr 2009

Unfreezing Consumer Credit: Ur Doin It Wrong (http://lolfed.com/2009/04/14/unfreezing-consumer-credit-ur-doin-it-wrong/)

Posted by alyx under all ur bankz (http://lolfed.com/category/all-ur-bankz/)
[2] Comments (http://lolfed.com/2009/04/14/unfreezing-consumer-credit-ur-doin-it-wrong/#comments)

http://lolfed.com/wp-content/uploads/consumer-credit.jpg

The green shoots are not coming up from under the ice on the consumer side at GE and BAC, evidently.

From Consumerist, a tale of why you can no longer drop more than a fat hundo at a Banana Republic store (http://consumerist.com/5210204/banana-republic-lowers-credit-card-limit-from-1000-to-100):My friend recently went to Banana Republic and while she was checking out her Banana Republic credit card was declined. She called me after speaking to a BR store credit card rep on the phone because the rep told her that “BR has been lowering ALL credit card limits in light of the current economic crisis. Customers are welcome to call back to ask that their limit be raised in 3-6 months.” This is rather normal, however, they lowered her credit limit from $1000 to $100. I’d say 80% of their items cost more than $100? She pays her bills on time and doesn’t carry a balance. I checked my card and they haven’t lowered the limit yet. This policy of lowering the limits across the board is ridiculous.

The Banana Republic/Gap/Old Navy (GPS) card is issued by Monogram Credit Card Bank of Georgia, a branch of the better known GE Money Bank. It is not like anyone is shopping at any of these stores anyway, but with a $100 credit line at Banana Republic, there’s not much you could buy - not from their full-price current-season merchandise, anyway.

Bank of America slashed my credit line personally within the last week after not touching it during their last few rounds of Let’s Try To Hose The Consumer - my last statement showed pretty much the same credit limit I’ve had for the last few years with them, but when I checked my card online this morning, I see my limit has been cut in half. It’s kind of irrelevant because I never carry a balance on the card, but I think it would be fun to call them and rant anyway. (I did inquire as to why and got the standard “it’s not you, it’s me” line.)

If I gave enough of a crap to berate them, it would go something like this:

Alyx: All that money you bitches took from the TARP and you have to curtail my credit line?

BAC: Um… you know, li-bore… cost of like.. lending… prohibitive…

Alyx: You realize I was contemplating putting a new car on this card just to get the rewards points.

BAC: Ummm…

Alyx: And now that you cut my credit line all I can put on the card without going over my limit is a Kia. A F**KING KIA

BAC: Well… we’ve been cutting limits across the board…

Alyx: YOU WOULD BE FORCING ME TO PURCHASE A LITTLE FOREIGN CAR INSTEAD OF PATRONIZING THE AMERICAN AUTO INDUSTRY AND ITS FINE MIDSIZE VEHICLES AND WHEN YOU DO THAT THE TERRORISTS WIN


BAC: If you need to have the decision reviewed… maybe I can transfer you to…

Actually, I wouldn’t call unless I could get Ken Lewis himself on the phone, because this conversation would be much more hilarious between me and Kennay than it would be between me and some poor guy who has to work their phone lines in Delaware.

From the “no surprise” department, Clusterstock reports this morning that on their stress test, BAC gets a grade of FAIL (http://www.businessinsider.com/bank-of-america-needs-more-cash-analyst-2009-4):Bank of America (BAC) will need to find more capital following its stress test, says Credit Suisse analyst Moshe Orenbuch. In a report out this morning, Orenbuch says the bank’s capital cushions remain “thin” and that investors should expect further dilution.

Thrown under the bus: BAC’s commercial and consumer credit portfolios. Which, obviously, equates to “Alyx is not economically viable.”

:banana:banana:banana:banana:banana

lunar
14.04.2009, 19:04
VERBOT FÜR MONSANTO-SORTE

Deutschland demütigt den Agro-Giganten (http://www.spiegel.de/wirtschaft/0,1518,618985,00.html)

Er ist weltweit erfolgreich, nur in Deutschland klappt es nicht: Trotz gezielter Lobbyarbeit konnte der Saatgutmulti Monsanto das Verbot seiner Genmaissorte MON 810 nicht stoppen. Ein überraschender Rückschlag - meist bricht der Konzern jeden politischen Widerstand. Von Susanne Amann mehr... (http://www.spiegel.de/wirtschaft/0,1518,618985,00.html) [ Video (http://www.spiegel.de/video/video-60749.html) | Forum (http://forum.spiegel.de/showthread.php?t=6458) ]

....scheint ja mal was Positives zu sein :cool

lunar
14.04.2009, 21:12
Carry Trade Comeback Means Biggest Gains Since 1999 (http://goldtent.net/wp_gold/2009/04/14/carry-trade-comeback-means-biggest-gains-since-1999/)

-> Posted by floridagold @ 12:43 pm on April 14, 2009


By Kim-Mai Cutler and Bo Nielsen

April 14 (Bloomberg) — The carry trade is making a comeback after its longest losing streak in three decades.

Stimulus plans and near-zero interest rates in developed economies are boosting investor confidence in emerging markets and commodity-rich nations with interest rates as much as 12.9 percentage points higher. Using dollars, euros and yen to buy the currencies of Brazil, Hungary, Indonesia, South Africa, New Zealand and Australia earned 8 percent from March 20 to April 10, that trade’s biggest three-week gain since at least 1999, data compiled by Bloomberg show.

Goldman Sachs Group Inc. (http://www.bloomberg.com/apps/quote?ticker=GS%3AUS), Insight Investment Management (http://www.bloomberg.com/apps/quote?ticker=IIFDVTR%3ALN) and Fischer Francis Trees & Watts have begun recommending carry trades, which lost favor last year as the worst financial crisis since the Great Depression drove investors to the relative safety of Treasuries. Now efforts to end the first global recession since World War II are sending money into stocks, emerging markets and commodities.

“The global economy seems to have reached an inflection point,” said Dale Thomas (http://search.bloomberg.com/search?q=Dale+Thomas&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), head of currencies at Insight Investment Management in London, which oversees $121 billion. “We’re set for a period of some classic risk currency trades, where you sell the dollar against emerging-market currencies.”

Carry trades use funds in countries with lower borrowing costs to invest in those with higher rates, allowing investors to pocket the difference. Speculators fled the strategy last year as central banks cut rates to revive growth, narrowing spreads, and as currency swings increased risks. Foreign- exchange volatility expectations surged 73 percent in three days to a record (http://www.bloomberg.com/apps/quote?ticker=JPMVXYG7%3AIND) on Oct. 24, a JPMorgan Chase & Co. index shows.

Aussie, Real

Thomas recommends the Australian dollar and real in Brazil, where the benchmark central bank rate is 11.25 percent, or about 11 points more than the corresponding U.S. rate.

Borrowing U.S. dollars at the three-month London interbank offered rate of 1.13 percent (http://www.bloomberg.com/apps/quote?ticker=US0003M%3AIND) and using the proceeds to buy real and earn Brazil’s three-month deposit rate of 10.51 percent rate would net an annualized 9.38 percent, as long as both currencies remain stable.

Carry trades were profitable for most of the past three decades. They produced average annual returns of 21 percent in the 1980s with no down years, the best of four commonly used currency strategies, according to ABN Amro Holding NV indexes.

Three Down Years

In the 1990s, carry-trade investors suffered three down years, including a 54 percent slide in 1992, ABN Amro data compiled by Bloomberg (http://www.bloomberg.com/apps/quote?ticker=ABNFXY%3AIND) show. From 2000 to 2005, the trade was again on top with average gains of 16 percent.

Then it dropped three years in a row in 2006-08, the longest streak since 1976-78, for an annualized average loss of 16.5 percent through Feb. 28. Most of the decline came after June 2008 (http://www.bloomberg.com/apps/quote?ticker=ABNFXY%3AIND) as the collapse of U.S. subprime mortgages froze credit markets and led to the bankruptcy of New York-based Lehman Brothers Holdings Inc., the biggest corporate failure in history.

As investors fled to the safest assets, the greenback climbed 26 percent between July 15 and March 4, when it reached its highest in almost three years, according to the Intercontinental Exchange Inc. (http://www.bloomberg.com/apps/quote?ticker=ICE%3AUS) Dollar Index (http://www.bloomberg.com/apps/quote?ticker=DXY%3AIND) against the euro, yen, pound, Canadian dollar, Swiss franc and Swedish krona. Prices for Treasuries rose, sending the 10-year note yield (http://www.bloomberg.com/apps/quote?ticker=USGG10YR%3AIND) to a record low of 2.0352 percent on Dec. 18, from 4.07 percent on Oct. 14.

Roaring Back

Last month, the carry trade roared back, with ABN Amro’s index (http://www.bloomberg.com/apps/quote?ticker=ABNFXY%3AIND) gaining 4.6 percent, its best month since September 2003. As of today, the Dollar Index had fallen about 5.4 percent from its March 4 high.

An equally weighted basket of currencies consisting of Turkish lira, Brazilian real, Hungarian forint, Indonesian rupiah, South African rand and Australian and New Zealand dollars — bought with yen, dollars and euros — earned an annualized 196 percent from March 2 to April 10. That trade produced a 41 percent annualized loss from September, when Lehman collapsed, through February.

Benchmark rates in those seven economies range from 3 percent in New Zealand and Australia to Brazil’s 11.25 percent. Comparable rates in the euro region, Japan and the U.S. are 1.25 (http://www.bloomberg.com/apps/quote?ticker=EURR002W%3AIND), 0.1 (http://www.bloomberg.com/apps/quote?ticker=BOJDTR%3AIND) and between zero and 0.25 (http://www.bloomberg.com/apps/quote?ticker=FDTR%3AIND) percent, respectively.

Smaller swings in foreign exchange are making the carry trade less vulnerable to a sudden wipeout. Currency volatility (http://www.bloomberg.com/apps/quote?ticker=JPMVXYG7%3AIND) expectations fell to a six-month low yesterday from Oct. 24’s record, the JPMorgan index shows.

Volatility Peak

“There are increasing signs that FX volatility has peaked,” Goldman Sachs said in a report titled “Time to Reconsider Carry” on April 8. “The conditions are about to fall in place to make carry strategies attractive again.”

The risk is that global economies will continue to shrink, leading investors back to the most-traded currencies — dollars, yen and euros — and forcing emerging economies to reduce benchmark rates to encourage growth, narrowing interest spreads.

David Rolley (http://search.bloomberg.com/search?q=David+Rolley&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), co-head of global fixed-income in Boston for Loomis Sayles & Co., isn’t convinced the carry trade’s recent gains will last.

The U.S. recession, now in its 17th month, has cost 5.1 million Americans their jobs, the worst drop in the postwar era. Median estimates in a Bloomberg News economist survey predict unemployment will average 8.9 percent this year and more than 9 percent in 2010.

‘Very Muted’

“That does not look like we’ve had any momentum change,” said Rolley, whose firm manages $106 billion. “People are not prepared to call an end to the global downturn as of yet. I think carry trade is going to come back, but it’s going to be very muted.”

Jonathan Xiong (http://search.bloomberg.com/search?q=Jonathan+Xiong&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), who oversees $18 billion as a vice president at Mellon Capital Management Corp. in San Francisco, said his firm is only “slightly into carry” right now. “We are slowly putting back on some particular positions, but not fully, because we still see some uncertainty,” he said.

Investors starting carry trades are counting on U.S.-led efforts to end the global recession, including promises by the Group of 20 nations to spend $1 trillion through the International Monetary Fund, to bolster commodity and emerging- market currencies.

The U.S. government and the Federal Reserve have spent, lent or committed as much as $12.8 trillion to shore up its banking system and economy, including President Barack Obama (http://search.bloomberg.com/search?q=Barack+Obama&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1)’s $787 billion stimulus plan. That’s about 90 percent of last year’s $14.2 trillion gross domestic product, which is expected to shrink 2.5 percent this year, according to the median of 55 forecasts in a Bloomberg survey.

Emerging Markets

In the past, expansion in developed economies has sparked faster growth in emerging markets. Before last year, the U.S.’s economy had increased an average 2.5 percent annually this decade, while Brazil and China rose 3.5 and 9.3 percent.

Economies and currencies of countries most dependent on raw materials exports have benefited as prices rebounded in 2009, with the Standard & Poor’s GSCI Index (http://www.bloomberg.com/apps/quote?ticker=SPGSCI%3AIND) of 24 raw materials gaining 6.6 percent in March after an almost flat February that followed a seven-month, 61 percent losing streak.

South Africa’s rand and New Zealand’s dollar are among the best performers against the U.S. dollar over the past month, data compiled by Bloomberg show. Though growth in Brazil and South Africa will slow this year, median Bloomberg survey predictions show them staying positive at 1 percent or less before jumping to 3.3 percent or more in 2010.

Fueling Demand

China is helping fuel demand for commodities, as manufacturing (http://www.bloomberg.com/apps/quote?ticker=CPMINDX%3AIND) expanded for the first time in six months in March, according to an April 2 report by its National Bureau of Statistics and Federation of Logistics and Purchasing. The World Bank said on April 7 that China’s 4 trillion-yuan ($586 billion) stimulus may fuel a recovery there this year.

There are some positive signals in the U.S., too. Fed Chairman Ben S. Bernanke (http://search.bloomberg.com/search?q=Ben+S.+Bernanke&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1) said March 15 that he saw “green shoots (http://www.cbsnews.com/stories/2009/03/12/60minutes/main4862191.shtml)” in some financial markets and predicted the pace of economic contraction “will begin to moderate.” Consumer spending rose in January and February after six months of declines.

Those signs are boosting investments in stocks. The Standard & Poor’s 500 Index (http://www.bloomberg.com/apps/quote?ticker=SPX%3AIND) rallied 13.5 percent — in the past month, its best since 1991, after falling 38 percent last year, the worst since 1937. The MSCI emerging markets (http://www.bloomberg.com/apps/quote?ticker=MXEF%3AIND) index rallied 20 percent in the past month, also its best since 1991. It fell 54 percent last year, its worst ever.

Goldman Sachs

Goldman Sachs recommended on April 3 that investors use euros, dollars and yen to buy Mexican pesos, real, rupiah, rand and rubles from Russia, where the benchmark central bank rate (http://www.bloomberg.com/apps/quote?ticker=RREFRATE%3AIND) is 13 percent. Using equally weighted baskets, that carry trade would have returned 8 percent in the past month, for an annualized 165 percent, data compiled by Bloomberg show.

“Group-of-three currencies are expensive while emerging- market currencies are cheap,” said Themos Fiotakis, (http://search.bloomberg.com/search?q=Themos+Fiotakis%2C&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1) a London- based Goldman Sachs (http://www.bloomberg.com/apps/quote?ticker=GS%3AUS) analyst. “The downside risks have declined significantly for emerging-market currencies. Even if these currencies remain flat, the carry is still attractive.”

Bank of Tokyo-Mitsubishi Ltd. (http://www.bloomberg.com/apps/quote?ticker=8306%3AJP) recommended selling yen and U.S. dollars as foreign-exchange markets “normalize.” Adnan Akant (http://search.bloomberg.com/search?q=Adnan%0AAkant&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1), the foreign exchange chief in New York at Fischer Francis Trees & Watts, said he’s selling yen and Swiss francs while buying Australian and New Zealand dollars.

“There’s a lot to boost risk appetite since mid-March,” said Akant, whose firm managed $22 billion in assets as of Dec. 31. “The carry trade is coming back. We are watching optimistically and cautiously.”

lunar
14.04.2009, 21:23
14 April 2009

Goldman Sachs Buries Losses to Beat the Estimates (http://jessescrossroadscafe.blogspot.com/2009/04/goldman-sachs-buried-13-billion-dollar.html)


http://1.bp.blogspot.com/_H2DePAZe2gA/SeTJ8q3wmYI/AAAAAAAAI4c/ZJdH16Ypwn0/s320/goldmanrecipients.jpg (http://1.bp.blogspot.com/_H2DePAZe2gA/SeTJ8q3wmYI/AAAAAAAAI4c/ZJdH16Ypwn0/s1600-h/goldmanrecipients.jpg) That canny crew at Goldman Sachs does it again.

Last night in a surprise move Goldman announced their earnings early, showing a surprising profit of $1.8 billion, beating the Street estimate handily. The bulk of their profit purportedly came from speculative trading for their own accounts, using 'cheap FDIC guaranteed funds.'

Goldman also took the opportunity to announce a new stock issue designed to allow shareholders to help them pay back their government TARP funds. Since Goldman is putting aside 50% of its profits for employee bonuses even now, while they are still holding government subsidies, the reasons for this are obvious.

What was not reported last night is that Goldman had changed their reporting periods to begin the 1st quarter in January 2009 when they declared themselves to be a bank holding company. Prior to that, their fiscal 2008 year ended on November 30.

This made the month of December 2008 an 'orphan month' that was ignored in the financial headlines.

http://4.bp.blogspot.com/_H2DePAZe2gA/SeTKC0lO2NI/AAAAAAAAI4k/tFejekzwc6g/s200/goldman.jpg (http://4.bp.blogspot.com/_H2DePAZe2gA/SeTKC0lO2NI/AAAAAAAAI4k/tFejekzwc6g/s1600-h/goldman.jpg)Goldman took this opportunity to realize some hefty writedowns in that December one month report, to the tune of approximately $1.3 Billion in pre-tax losses.

So, to earn an impressive $1.8 Billion in the first quarter, Goldman disposed of their losses in a largely ignored December filing. This facilitated their share offering with the 'wonderful earnings news' which Matt Miller of Bloomberg referred to approximately every five minutes as "blowing away their numbers."

However, this morning, Matt did mumble something about Goldman "maybe not blowing away their numbers."

Goldman did nothing illegal in their management of their earnings, both in the way in which they parsed the losses into a 'stub month' which was ignored, or in their decision to time an early announcement of 'exceptional profits' with a stock offering. But the financial press handled this badly, and considering the huge debt and forebearance Goldman owes to the government and the public it was not befitting a major institution with strong ties to the Obama administration.

The only thing getting blown away around here are the shareholders, taxpayers, and anyone else who buys what Wall Street in general is selling these days.

The banks must be restrained and the financial system reformed before we can have a genuine economic recovery.


Posted by Jesse at 1:11 PM (http://jessescrossroadscafe.blogspot.com/2009/04/goldman-sachs-buried-13-billion-dollar.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=15691906301300000) :verbeug

....Radio DRS brachte die "Finanz-Ummodelei" heute in den Nachrichten :cool bei den Amis business as usual :bad

lunar
14.04.2009, 22:50
Clusterfuck Nation by Jim Kunstler (http://jameshowardkunstler.typepad.com/clusterfuck_nation/)

Comment on current events by the author of "The Long Emergency" (also on www.kunstler.com (http://www.kunstler.com))

The Coming Siege of Austerity (http://jameshowardkunstler.typepad.com/clusterfuck_nation/2009/04/the-coming-siege-of-austerity.html)

It's a curious symptom of the consensus trance zombifying the American public and its auditors in the media that something like a "recovery" is now deemed to be underway. And, as events compel me to repeat in this space, it begs the question: recovery to what? To Wall Street booking stupendous profits by laundering "risk" out of bad loans with new issues of tranche-o-matic securitized paper? This I doubt, since there isn't a pension fund left from San Jose to Bratislava that would touch this stuff with a stick, even if it could be turned out in collector's editions of boxed sets. Does it mean that American "consumers" (so-called) are awaited momentarily in the flat-screen TV sales parlors with their credit cards fanned-out like poker hands, ready for "action?" Not too likely with massive non-performance out in cardholder-land, and half the nation's electronics inventory wending its way onto Craig's List. Are we expecting more asteroid belts of new suburbs carved in the loamy outlands of Dallas and Minneapolis, complete with new highway strips of Big Box shopping and Chuck E. Cheeses? Go to banking's intensive care unit and inquire (if you can) among the flat-lining production home-builders and the real estate investment trusts on life support when they expect to rev up the heavy equipment.......

......So far, the most striking piece of the economic fiasco is the absence of any galvanizing spirit among the millions getting crushed in the tragic unwind of our relations with money. It will be interesting to see, for instance, if there is any uproar over the evolving story of Goldman Sachs's latest raid on the US Treasury, after booking billions in taxpayer-funded payouts funneled through AIG, based on double-hedged credit default swaps. Such magic tricks are understandably hard to follow, but a dozen-or-so federal attorneys with a middling background in differential calculus might suss out the trail that leads from Ben Bernanke's work station to Lloyd Blankfein's cappuccino machine....... (ja dann hoffen wir wieder mal :rolleyes)

........So many dire elements are ranging around our food production system (i.e. farming), from widespread drought and water table depletion to "input" shortages (especially fertilizers) to sickness in credit availability, that we're all one bad harvest away from something that will make Pieter Bruegel-the-elder's "Triumph of Death" look like Vanity Fair's annual Oscar Party in comparison.
Barack Obama, charming as he is, had better drop his pretensions about kick-starting the old consumer economy, fire the Wall Street clowns and parasites who are running that futile exercise, and start preparing a US Lifeboat Economy aimed at reducing the scale and scope of our outlays so we can survive the coming siege of austerity. Meanwhile, I'm glad that he finally got a dog for the White House, because the President knows full-well where to turn in Washington if you want some genuine love and affection.

Pieter Bruegel the Elder -- The Triumph of Death


http://jameshowardkunstler.typepad.com/.a/6a00d834515e6b69e201156f20fe61970c-800wi (http://jameshowardkunstler.typepad.com/.a/6a00d834515e6b69e201156f20fe61970c-pi)

.....es ist mir einfach unverständlich wie GS nach wie vor alle ohne Scham oder Skrupel über den Tisch zieht - alle wissen es und keiner tut was :mad

lunar
15.04.2009, 08:50
UBS baut 8700 Stellen ab Die UBS verzeichnete im ersten Quartal ... (http://www.cash.ch/news/front/ubs_baut_8700_stellen_ab-777604-449) mehr » (http://www.cash.ch/news/front/ubs_baut_8700_stellen_ab-777604-449)

14.04.2009 14:30

Von Daniel Hügli

Der Abbau bis Ende des nächsten Jahres beträgt 8700 Stellen. Bis Ende März beschäftigte die UBS 76200 Leute. Das teilte die Bank am Mittwoch morgen im Vorfeld der heutigen Generalversammlung mit.

2500 der 8700 Stellen werden in der Schweiz wegfallen. Zwischen 1200 und 1500 UBS-Angestellte in der Schweiz erhalten die Kündigung.

Damit will die Bank unter der Leitung von Oswald Grübel (Bild) bis Ende 2010 Kosten in der Höhe von 3,5 bis 4 Milliarden Franken einsparen. Ehebliche Kürzungen würden in den Bereichen Marketing, Sponsoring und bei der externen Beratung vorgenommen.......

:schwitz ....muss wohl sein :rolleyes

lunar
15.04.2009, 09:36
:eek:schwitz:rolleyes

Tue 14 Apr 2009

The Real Bomb On Lehman’s Balance Sheet (http://lolfed.com/2009/04/14/the-real-bomb-on-lehmans-balance-sheet/)

Posted by alyx under lehman brothers (http://lolfed.com/category/lehman-brothers/)
1 Comment (http://lolfed.com/2009/04/14/the-real-bomb-on-lehmans-balance-sheet/#comments)

http://lolfed.com/wp-content/uploads/lehman-yellowcake.jpg

Liquidating a company is like a box of chocolates. You never know what you’re going to get. It’s probably akin to cleaning out the house of a dead relative where mostly you’re fighting over who gets the good silver and hauling crate after crate of old magazines and worn-out sporting equipment to the dump, all the while hoping you find a Stradivarius or something tucked away in the corner. As you probably remember from earlier, Lehman’s liquidation turned up a nice stash of tote bags, paperweights, stress balls (http://lolfed.com/2009/03/21/would-you-buy-a-used-paperweight-from-this-man/)… and, as Jason called to my attention earlier, enough uranium to make a nuclear bomb (http://www.bloomberg.com/apps/news?pid=20601109&sid=aNJJYNBs1rQA&refer=home):
Lehman Brothers Holdings Inc. is sitting on enough uranium cake to make a nuclear bomb as it waits for prices of the commodity to rebound, according to traders and nuclear experts.

The bankrupt bank, in the throes of paying off creditors, acquired uranium cake “under a matured commodities contract” and plans to sell it when the market improves “to realize the best prices,” Chief Executive Officer Bryan Marsal said.

Lehman is holding an estimated 500,000 pounds of tasty yellowcake, which Bloomberg says is almost enough to make a nuclear bomb. (Wish I’d written down Jack Bauer’s phone number when they gave it out a couple seasons ago on 24, so I could call him to fact check.) The present value is estimated around $20 mil but, just so you know, this is a thinly traded market, and dumping that much yellowcake at once would tank prices. I mean, unless you had one VERY interested buyer. Rest assured, LEH wants you to know it doesn’t have plans to ship this off to some pissed-off Axis of Evvvvvvvil aspirant:
“We plan on gradually selling this material over the next two years,” he said. “We are not dumping this on the market and have no fire-sale mentality.”

Two years — what a nice, pleasant, orderly, no-rush liquidation they are enjoying. Guess I won’t be retiring the Lehman Brothers tag any time soon.


jesse Says:
April 15th, 2009 at 2:19 am (http://lolfed.com/2009/04/14/the-real-bomb-on-lehmans-balance-sheet/#comment-3038) I wonder where, oh where, is this stuff stored? Please say it’s not in its vault in midtown Manhattan.

Funny stuff. Keep it up!

lunar
15.04.2009, 15:41
Offshore Tax Havens: A State-By-State Breakdown Of The Cost To Taxpayers (http://www.huffingtonpost.com/2009/04/15/offshore-tax-havens-a-sta_n_186640.html)

April 15, 2009 at 12:32 AM

A Senate report estimated in 2008 that the United States loses up to $100 billion a year in tax revenue to offshore tax havens (PDF (http://hsgac.senate.gov/public/_files/REPORTTaxHavenBanksJuly1708FINALwPatEliseChgs926080.pdf)). In a report released Wednesday, the U.S. Public Interest Research Group offers a state-by-state breakdown (http://www.uspirg.org/issues/tax-and-budget) of the cost to taxpayers of tax revenue lost to "shell companies and sham headquarters" in places like Switzerland and the Cayman Islands. (.....gibt wohl noch einige anere Plätze :rolleyes)

The practice soaks dutiful taxpayers in every state for hundreds of millions of dollars, according to U.S. PIRG. The citizens of New York and Texas shoulder over $8 billion a year, and the good people of California are on the hook for an extra $11 billion.

Click here for U.S. PIRG's table with the state-by-state breakdown of the burden shifted to taxpayers. (http://www.huffingtonpost.com/thenewswire/archive/taxes.html)

U.S. PIRG came up with the state numbers by dividing the $100 billion figure by the percentage of total federal revenue contributed by each state. The nonprofit released its report on tax day to drive home a message:

"This is the day when we're all working hard, rushing to the post office, filing our returns, and then to hear about these large multi-billion dollar corporations who have used gimmicks to avoid paying their fair share -- it's something that should end this year," says John Krieger, a staff attorney with U.S. PIRG.

U.S. PIRG's report, titled "Tax Shell Game," highlights some findings from a January report by the Government Accountability Office that found over 80 percent of the hundred biggest U.S. companies took advantage of tax havens. In 2008 the GAO found that one five-story building in the Cayman Islands, known as the "Ugland House," contained 18,857 registered businesses, very few of which had anything but a P.O. box there. Bailout beneficiaries Morgan Stanley, Citigroup, and Bank of America boast over 300 subsidiaries in the Cayman Islands.

The tax day release of the report coincides with protests at post offices across the country coordinated by the Campaign to Rebuild and Renew America Now (http://www.rebuildandrenew.org/), a coalition of groups supporting the president's budget priorities. Obama's budget calls for reigning in offshore tax havens (http://www.huffingtonpost.com/2009/02/24/obama-to-target-tax-haven_n_169576.html).

In a speech on Tuesday, Obama talked about "shutting down loopholes and making sure everyone pays what they owe."

John Krieger says similar efforts by U.S. PIRG last year brought attention to tax evasion by major defense contractors like Kellogg, Brown & Root, ultimately leading to legislation to make sure contractors pay their share (http://www.uspirg.org/newsletters/fall08/news-briefs).

"The point is that we all pay for it," Krieger says. "The issues of tax havens, tax avoidance -- the reason they've had so much cover is that we all think of it as a D.C wonky issue, but in reality it has an effect on every taxpayer who has to take on this extra burden."


http://www.huffingtonpost.com/2009/04/15/offshore-tax-havens-a-sta_n_186640.html

....also zumindest sind immer auf beiden Seiten Schuldige :o aber natürlich CH ist am schuldigsten :rolleyes da muss man dringend den Hebel ansetzen :Prost


(http://www.huffingtonpost.com/2009/04/15/offshore-tax-havens-a-sta_n_186640.html)

lunar
15.04.2009, 16:51
so in etwa.... Geduld...

http://www.stock-channel.net/stock-board/attachment.php3?attachmentid=90445&stc=1

Zum Original-Beitrag (http://showthread.php3?p=1232550#post1232550)
merci ;) ....wegen der Evil Knievel Formation :D auch wenn es nicht zum lachen ist/wäre :rolleyes

lunar
15.04.2009, 19:57
EHEGESETZ IN AFGHANISTAN

"Du bist eine Hündin, keine schiitische Frau" (http://www.spiegel.de/politik/ausland/0,1518,619183,00.html)

Konfrontation in Kabul: Hunderte Frauen demonstrierten gegen das radikale Ehegesetz für Schiiten - und wurden aus einer Menge beschimpft und mit Steinen attackiert. Die angekündigte Überprüfung des Gesetzes hat noch nicht mal begonnen, Präsident Karzai spielt auf Zeit. Von Matthias Gebauer und Shoib Najafizada mehr... (http://www.spiegel.de/politik/ausland/0,1518,619183,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6757)

.....Es dauerte nicht lange, bis die Auseinandersetzung gewalttätig wurde. Mit wüsten Beschimpfungen und Steinen attackierten rund tausend Männer und Frauen die Protestkundgebung. Nur eine Polizeikette hielt die beiden Gruppen von Handgreiflichkeiten ab. "Tod den Sklaven der Christen", skandierten die Verteidiger des neuen Gesetzes. "Du bist eine Hündin, du bist keine schiitische Frau", schrie ein Mann eine Demonstrantin an.....

....dieser Mann wurde doch wohl von einer Frau geboren :o es ist nicht zu fassen :mad :bad

lunar
15.04.2009, 20:09
THE SENATOR WHO WANTS A RUN ON BANKS (http://www.huffingtonpost.com/2009/04/15/burr-encourages-run-on-ba_n_187085.html)
http://images.huffingtonpost.com/gen/74826/thumbs/r-BURR-huge.jpg (http://www.huffingtonpost.com/2009/04/15/burr-encourages-run-on-ba_n_187085.html)









Quick Read (http://www.huffingtonpost.com/2009/04/15/burr-encourages-run-on-ba_n_187085.html) |
Comments (1348) (http://www.huffingtonpost.com/2009/04/15/burr-encourages-run-on-ba_n_187085.html)
Via Washington Monthly (http://www.washingtonmonthly.com/archives/individual/2009_04/017751.php), North Carolina Republican Sen. Richard Burr has taken an interesting approach to the economic crisis (http://www.blueridgenow.com/article/20090414/NEWS/904149995/1042?Title=Sen-Burr-speaks-on-economy-). He told constituents Monday (http://briefingroom.thehill.com/2009/04/14/burr-told-family-to-withdraw-everything-from-bank/) that when major financial institutions started collapsing last fall, his response was to make a run on the bank before all the money was gone:

On Friday night, I called my wife and I said, 'Brooke, I am not coming home this weekend. I will call you on Monday. Tonight, I want you to go to the ATM machine, and I want you to draw out everything it will let you take. And I want you to tomorrow, and I want you to go Sunday.' I was convinced on Friday night that if you put a plastic card in an ATM machine the last thing you were going to get was cash."Matthew Yglesias expands on the implications (http://yglesias.thinkprogress.org/archives/2009/04/richard_burr_is_trying_to_start_bank_runs.php) if citizens were to follow Burr's lead and pull their money out of the banks.....

:eek:eek:eek

lunar
15.04.2009, 21:20
Reich-Ranickis «Mein Leben» als Film

Von Martin Ebel. Aktualisiert am 07.04.2009


Vor den Nazis musste sich Marcel Reich-Ranicki verstecken. Dass er Geschichten erzählen konnte, rettete ihm und seiner Frau vermutlich das Leben. Jetzt kommt Ranickis Lebensgeschichte ins Fernsehen.



Sendetermine

Karfreitag, 21 Uhr auf Arte; Mittwoch, 15. April., 20.15 Uhr in der ARD.


Erzählen gegen den Tod: Das ist der dramatische Kern von Marcel Reich-Ranickis Lebensgeschichte. Zwischen Juni 1943 und September 1944 lebten er und seine Frau Tosia in einem Versteck, verborgen und ernährt vom Setzer Bolek und seiner Frau. Nachts mussten sie Zigaretten drehen, und Marcel erzählte Geschichten; er bereitete die Weltliteratur spannend auf und hielt so das Interesse der beiden Gastgeber an ihren gefährlichen Schützlingen aufrecht.

1,2 Millionen Mal verkauft

Die Fernsehverfilmung des überaus erfolgreichen Buches («Mein Leben» verkaufte sich 1,2 Millionen Mal) wählt eine analoge Klammer. Reich-Ranicki, Konsul in London und Mitarbeiter der polnischen Geheimpolizei, wird 1952 abberufen und von einem Offizier verhört – dem Überlebenden droht Gefängnis, wenn nicht Schlimmeres. Aus dem Verhör entwickelt sich indes eine Erzählung. Der Beschuldigte führt seinen Vernehmer in die Theaterstadt Berlin, ins Warschauer Ghetto und schliesslich in Boleks Keller. «Ich danke Ihnen für die Geschichte», sagt der Offizier am Schluss, von der Lauterkeit des Erzählers vollkommen überzeugt.

Die Klammer ist motivisch wie dramaturgisch eine glückliche Wahl, sie erlaubt, den (ziemlich unsäglichen) westdeutschen Teil von «Mein Leben» wegzulassen und sich auf Verfolgung und Errettung zu konzentrieren. Regisseur Dror Zahavi hat Michael Gutmanns Drehbuch mit Sinn für Dramatik, aber auch für Ruhe und Besinnung umgesetzt. Matthias Schweighöfer (Marcel) und Katharina Schüttler (Tosia) spielen mit sichtlichem Respekt vor den Vorbildern, in Nebenrollen setzen Maja Maranow, Joachim Król und Sylvester Groth farbige Akzente. Fürs Fernsehen hat der Film genau die richtigen Dimensionen. Und auch der Meister, letzte Instanz in allem, hat sich, wie man hört, schon zufrieden und gerührt gezeigt. (Tages-Anzeiger)




....läuft jetzt im ARD - sollte man sehen

lunar
15.04.2009, 22:19
In The News Today (http://jsmineset.com/index.php/2009/04/15/in-the-news-today-166/)

Posted: Apr 15 2009 By: Jim Sinclair Post Edited: April 15, 2009 at 3:12 pm
Filed under: In The News (http://jsmineset.com/index.php/category/in-the-news/)

Dear CIGAs,

Note how concerned the youngsters are. Even if this is a professional act it is a great act and deserves a reward.

It is definitely getting very bad…

http://216.157.72.247/wp-content/uploads/2009/04/clip-image001-thumb8.jpg (http://216.157.72.247/wp-content/uploads/2009/04/clip-image00111.jpg)

(Female cats are drama queens)

Jim Sinclair’s Commentary

It is absolutely amazing that Nassim Taleb did not get the hook on financial TV this morning.

He ripped into every plan and every person of note from the Treasury, Federal Reserve and right up to the Fat Cats.

The look on the interviewer’s face was a marvel to behold. He says nothing has changed. Nothing is strengthening. The weaknesses are still there and there is no effective plan or people to change that.

I understand he is a professor of Risk Engineering so I wonder what he teaches when you listen to his views.

Professor Taleb, I am open to invitation to a lecture and promise to sit quietly and attentively. I will gladly pay for a ticket if it is public.

Please listen to this man if you have not heard him interviewed.





ABXPICWjFIo&eurl

http://jsmineset.com/index.php/2009/04/15/in-the-news-today-166/

lunar
15.04.2009, 22:39
http://www.huffingtonpost.com/contributors/rep-alan-grayson/headshot.jpg
Rep. Alan Grayson (http://www.huffingtonpost.com/rep-alan-grayson)

Congressman Alan Grayson represents Florida's eighth district.

Posted April 15, 2009 | 02:57 PM


On Goldman Sachs Ditching December (http://www.huffingtonpost.com/rep-alan-grayson/on-goldman-sachs-ditching_b_187314.html)


I heard an interesting anecdote at a Financial Services Committee hearing last month (see the video below). Robert Herz of the Financial Accounting Standards Board (FASB) said that financial services companies about to go bankrupt sometimes demanded a change in accounting rules about two weeks before they went under. A bank being forced to admit it is broke is not pleasant, but it is necessary, because no private actor will lend to a bank whose financial situation is obscured or hidden.

6baBFKZETOE&eurl

Unfortunately, FASB recently changed accounting rules to allow financial institutions to value securities on their books using their own subjective judgment, instead of being forced to mark them to market prices. This means that instead of valuing, say, subprime residential mortgage as what they are worth, banks can now pretend that these loans are going to come back to full value. The net effect is that banks can choose to report profits simply by reclassifying how they value assets rather than admitting losses or capital impairments. This is not just a rules change, it's a statement to our banking system that banks can and should obscure losses and emphasize gains.

Since this accounting change, we've seen two major institutions prettying up their financial statements. Wells Fargo recorded record profits, and its stock jumped more than 20% in one day on the news. Goldman Sachs also reported tremendous earnings, surprising in these difficult times, and sold $5 billion of stock in the secondary market immediately afterwards

Both banks have used odd accounting tricks designed to obscure the truth of their status to investors. Earnings season just started, so we'll soon see if this is a trend, but so far, I'm not encouraged. Journalist Jonathan Weil, who helped uncover the Enron scandal, pointed out (http://www.bloomberg.com/apps/news?pid=20601039&sid=aY8m0nta94GA&refer=home) that much of the increase in Wells Fargo's earnings came from a new accounting term called 'Level 3' gains and its application to Wells Fargo's mortgage servicing portfolio. "So what are Level 3 gains?" asks Weil. "Pretty much whatever companies want them to be."

Floyd Norris of the New York Times noted (http://norris.blogs.nytimes.com/2009/04/14/the-case-of-the-missing-month/) that Goldman Sachs used a more prosaic trick having nothing to do with mark to market accounting - the company moved its fiscal year up a month and simply left out its losses from December, which is now known as an 'orphan month'. Is the rule that says a year has twelve months also open to subjective judgment?

I protested the mark to market changes last month because I feared that these kinds of tricks would become commonplace. After all, who will lend to a bank that pretends a year has thirteen months in it? If banks make this kind of accounting routine, even the free calendars they give out will become useless.

FASB made a mistake by allowing banks to use subjective judgment to avoid admitting losses or book fake profits. That may create a positive short-term impression for stockholders, but it won't increase credit any more than changing the definition of inches will make airplane seats more comfortable for tall people. No one will believe these banks anymore, and the only entity that will lend them money is the government.

Alan Grayson Questions AIG Math: Let's Change the Length of Inches So I'm Shorter! - yes we can :rolleyes:mad:dumm

lunar
16.04.2009, 08:43
15 April 2009

This Is Your Economy on Credit Crack - and Heading for a Crack-Up (http://jessescrossroadscafe.blogspot.com/2009/04/this-is-your-economy-on-credit-crack.html)


http://3.bp.blogspot.com/_H2DePAZe2gA/SeZYsjys7aI/AAAAAAAAI5E/S89QI2dUdAI/s320/ponzi-scheme-for-dummies1.jpg (http://3.bp.blogspot.com/_H2DePAZe2gA/SeZYsjys7aI/AAAAAAAAI5E/S89QI2dUdAI/s1600-h/ponzi-scheme-for-dummies1.jpg) Here is a clear and simple explanation of why we may have already passed the point at which the Fed and Treasury will have no choice but to substantially devalue the bonds and reissue a 'new US dollar' as part of a managed default on our sovereign debt.


Ben's Un-shrinkable Balance Sheet
Delta Global Advisors
April 14, 2009

As he stated again clearly today, the Chairman of the Federal Reserve has deluded himself into thinking that when the time comes, he will be able to shrink the size of the Fed's balance sheet and reduce the monetary base with both ease and impunity. He also has deluded himself into thinking inflation will be easily contained.

It is very important that he does not fool you as well.

The Fed believes low interest rates should not be the result of a high savings rate, but instead can exist by decree, a conviction which has directly led consumers to believe their spending can outstrip disposable income.

The result of such thinking has been a rise in household debt from 47% of GDP in 1980 to 97% of total output in Q4 2008. As a result of this ever increasing burden, the Fed has been forced into a series of lower lows and lower highs on its benchmark lending rate. Keeping rates low is an attempt to make debt service levels manageable and keep the consumer afloat. Problem is, this endless pursuit of unnaturally low rates has so altered the Fed's balance sheet that Mr. Bernanke will be hard-pressed to substantially raise rates to combat inflation once consumer and wholesale prices begin to significantly increase.

Banana Ben Bernanke has grown the monetary base from just $842 billion in August 2008 to a record high of $1,723 billion as of April 2009. But it's not only the size of the balance sheet that is so daunting; it's the makeup that's becoming truly scary.

Historically speaking, the composition of the Fed's balance sheet has been mostly Treasuries. And the Federal Open Market Committee would typically raise rates by selling Treasuries from its balance sheet into the market to soak up excess liquidity. However, because of the Fed's decision to purchase up to $1 trillion in Mortgage Backed Securities (and other unorthodox holdings), it will not be selling highly-liquid US debt to drain reserves from banks. Rather, it will be unwinding highly distressed MBS and packaged loans to AIG. Not to mention the fact the Fed would have to break its promise of being a "hold-to-maturity investor" of such assets.

Moreover, not only are the new assets on the Fed's balance sheet less liquid but the durations of the loans are being extended. According to Bloomberg, the Fed is contemplating extending TALF loans to buy mortgaged backed securities to five years from three after pressure it received from lobbyists and a failed second monthly round of auctions. That means when it finally decides it's time to fight inflation, the Fed will find it much more difficult to reverse course.

But because of the extraordinary and unprecedented (some would say illegal) measures Mr. Bernanke has implemented, only $505 billion of the $2 trillion balance sheet is composed of U.S. Treasury debt. Today, most Fed assets are derived from the alphabet soup of lending programs including $250 billion in commercial paper, $312 billion of Central Bank liquidity swaps and $236 billion in mortgage-backed securities.

Thus, our economy has become more addicted than ever to low interest rates. But because bank assets will now be collecting income at record low rates, when and if the Fed tries to raise rates it will only be able to do so on the margin. If Bernanke raises rates substantially to fight inflation, banks will be paying out more on deposits than they collect on their income streams. Couple that with their already distressed balances sheets and look out!

Additionally, not only do the consumers need low rates to keep their Financial Obligation Ratio low, but the Federal government also needs low rates to ensure interest rates on the skyrocketing national debt can be serviced. Our projected $1.8 trillion annual deficit stems from the belief that the government must expand its balance sheet as the consumer begins to deleverage. In fact, both the consumer and government need to deleverage for total debt relief to occur, else we're just shuffling debts around and avoiding a healthy deleveraging entirely.

In order to have viable and sustainable growth total debt levels must decrease, savings must increase and interest rates must rise. But that would require an extended period of negative GDP growth-a completely untenable position for politicians of all stripes. Ben Bernanke would like you to believe inflation will be quiescent and he can vanquish it if it ever becomes a problem. Just make sure you don't invest as though you believe him.

Posted by Jesse at 4:39 PM (http://jessescrossroadscafe.blogspot.com/2009/04/this-is-your-economy-on-credit-crack.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=1239005655585217970) :verbeug

....mehr und mehr scary diese Zeit :rolleyes:(

lunar
16.04.2009, 08:48
Roll That Stock, Light That Stock, Smoke That Stock

April 15, 2009 by Joshua M Brown (http://thereformedbroker.com/author/majormerrick/)

http://thereformedbroker.files.wordpress.com/2009/04/half-baked.jpg?w=472&h=316 The Board of Directors


You knew it was just a matter of time.

The first ever publicly-traded Medical Marijuana company is here, and its called…Medical Marijuana Inc.

Right now, the ticker is CVIV on the pink sheets, but thats just a shell that will shed its other businesses and change the name and ticker. They will be exclusively in the marijuana business, the grass game, the pot trot, or whatever the kids are calling it these days.

I am making the following suggestions for the new ticker symbol:




WEED
BONG
HERB
NUGS or NUGZ
MRLY
SMOK
Contrary to market rumors, B Real from Cypress Hill will not be the CEO, it will instead be Bruce Perlowin, a successful telecom entrepreneur who is also known as “The King of Pot“. I didn’t make that up, Google it.

And for those of you asking yourselves, “Wait, isn’t pot an illegal drug in the United States?“, my answer is, go visit Los Angeles. My brother lives in Hollywood and he says there’s a weed “clinic” every two blocks, like Starbucks. You stub your toe and you get a prescription written up. This company may be onto something.

Here’s the press release from the company: Marijuana Inc. (http://finance.yahoo.com/news/Medical-Marijuana-Inc-iw-14803024.html)

Here’s 24/7 Wall St’s coverage from last week: Legalized Marijuana Company Now Public (http://247wallst.com/2009/04/03/legalized-medical-marijuana-company-now-public-really-cviv/)

Late Edit: 24/7 Wall St is reporting (http://247wallst.com/2009/04/14/another-legal-medical-marijuana-company-now-public-gfon-cviv/) on a second public company entering the weed business, called Cannabis Science (GFON)…competition is wafting in the ayer!


Full Disclosure: I am cerainly not recommending purchase of this or any other pink sheet-listed stock with my commentary, nor am I condoning the use of any drug. Just passing on the insanity.


http://thereformedbroker.com/2009/04/15/roll-that-stock-light-that-stock-smoke-that-stock/


:cool

lunar
16.04.2009, 09:38
http://goldtent.net/wp_gold/wp-content/uploads/2009/04/20090410edohm-a__1239643903_4701.jpg .

_SL_
16.04.2009, 13:35
....läuft jetzt im ARD - sollte man sehen

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1232598#post1232598)
die presse lügt!!! ;)

lunar
16.04.2009, 15:50
....das ist ein alter Hut - jedermann weiss, dass die Presse (oft) lügt :rolleyes
das hat ja nix mit dem Film zu tun - schau ihn Dir besser an als irgendeinen Spruch in die Welt zu setzen :cool

lunar
16.04.2009, 17:45
Thu 16 Apr 2009

Elizabeth Warren Does The Daily Show (http://lolfed.com/2009/04/16/elizabeth-warren-does-the-daily-show/)

Posted by alyx under bailout (http://lolfed.com/category/bailout/)
[2] Comments (http://lolfed.com/2009/04/16/elizabeth-warren-does-the-daily-show/#comments)
“TARP Cop” Elizabeth Warren was on Jon Stewart’s show last night, talking about the Money Hose. Much more civilized than Cramer’s interview, worth watching:

This is the second half. I switched these out to post the second half first - it’s funnier (”Capitalism without bankruptcy is like Christianity without Hell”):
Her intro is below the cut –
(more…) (http://lolfed.com/2009/04/16/elizabeth-warren-does-the-daily-show/#more-3621)

part 2: http://www.thedailyshow.com/video/index.jhtml?videoId=224262&title=elizabeth-warren-pt.-2

lunar
16.04.2009, 22:38
Jeff Zucker, Top NBC Brass Concerned About CNBC's "Conservative," "Anti-Obama" Image: Report (http://www.huffingtonpost.com/2009/04/16/jeff-zucker-top-nbc-brass_n_187681.html)

New York Post, Huffington Post | April 16, 2009 at 10:26 AM


http://images.huffingtonpost.com/gen/75055/thumbs/s-CNBC-large.jpg The New York Post's Page Six reports Thursday that GE and NBC execs are worried about the CNBC becoming the "Obama-bashing network, (http://www.nypost.com/seven/04162009/gossip/pagesix/cnbc_sweats_obama_bashing_164608.htm)" and that they recently held a top secret dinner in New York to discuss the topic.

Page Six reports that CNBC execs and some on-air talent were called to meet with GE CEO Jeff Immelt and NBC Universal President Jeff Zucker for "an intensive, three-hour dinner at 30 Rock." According to Page Six's source, Zucker himself called the dinner, which featured "a long discussion about whether CNBC has become too conservative and is beating up on Obama too much."

In the past few months, two on-air personalities — "Mad Money" host Jim Cramer and correspondent Rick Santelli — have come under fire in the media and have come to define the CNBC brand.

Cramer, for instance, said President Obama was "taking cues from Lenin" (http://mediamatters.org/items/200903040026) and accused him of the "greatest wealth-destruction I've seen by a President." (http://newsbusters.org/blogs/noel-sheppard/2009/03/03/cramer-greatest-wealth-destruction-president)

Santelli, of course, helped spawn the "tea party" movement with his February rant against President Obama's foreclosure plan (http://www.huffingtonpost.com/2009/02/19/rick-santellis-revolution_n_168286.html).

White House Press Secretary Robert Gibbs has taken on CNBC (http://www.huffingtonpost.com/2009/03/03/white-house-cnbc-tensions_n_171602.html), and Santelli directly (http://www.huffingtonpost.com/2009/02/20/gibbs-v-santelli-he-shoul_n_168645.html), over the course of this extended fight.

Zucker came out in defense of Cramer (http://www.huffingtonpost.com/2009/03/18/jeff-zucker-defends-cnbc-_n_176301.html) after he was hammered by Jon Stewart on "The Daily Show," calling Stewart "incredibly unfair."

CNBC's Brian Steel confirmed that there was a dinner but denied that it was for the purpose of network soul-searching, telling Page Six instead: "The dinner was to thank CNBC for a job well done in our in-depth reporting throughout the financial crisis. As far as our coverage is concerned, we are built for balance and we are unabashedly pro-investor."Compiled by Danny Shea

:rolleyes

lunar
17.04.2009, 10:47
(http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=7507911751317064487)
Second Largest US Commercial Retail Real Estate Company Files for Bankruptcy (http://jessescrossroadscafe.blogspot.com/2009/04/second-largest-us-commercial-retail.html)


This is the tip of the iceberg, still the early stages of failures in the real economy which has been distorted beyond all reason by the outsized financial sector, a failed regulatory regime under the influence of Wall Street, and reckless financial engineering by the Fed.


AP (http://finance.yahoo.com/news/Mall-operator-files-for-apf-14948689.html)
Mall operator General Growth Properties files for Chapter 11 bankruptcy
Alex Veiga, AP Real Estate Writer
Thursday April 16, 2009, 3:14 pm EDT

LOS ANGELES (AP) -- The nation's second-largest shopping mall owner, General Growth Properties, filed for Chapter 11 bankruptcy protection Thursday in a tough bargaining move to restructure its $27 billion in debt.

General Growth, which owns more than 200 malls including four in Colorado, said shoppers at its malls will not be affected by its bankruptcy filing.

The Chicago-based company is paying the price for its aggressive expansion at the height of the real estate boom. General Growth, like many homeowners during the frenzy, bought several properties at top dollar and now is finding lenders unwilling to refinance.

The real estate crisis has been slow to affect the market for retail, hotels and office buildings. But the delinquency rate for commercial loans, while still relatively low, is creeping up and could deepen the economic recession.

"While we have worked tirelessly in the past several months to address our maturing debts, the collapse of the credit markets has made it impossible for us to refinance maturing debt outside of Chapter 11," Chief Executive Adam Metz said in a statement.

The news sent the real estate investment trust's stock down 16 cents, or 15 percent, to 89 cents in midmorning trading. The stock traded last spring as high as $44.23.

The move by the General Growth had been widely anticipated since the fall, when the company warned it might have to seek bankruptcy protection if it didn't get lenders to rework its debt terms. Efforts to negotiate with its creditors ultimately fell short late last month.

Chapter 11 protection typically allows a company to hold off creditors and operate as normal while it develops a financial reorganization plan.

The company had about $29.6 billion in assets at the end of the year, according to documents filed with the U.S. Bankruptcy Court in the Southern District of New York.

The company noted that some subsidiaries, including its third party management business and joint ventures, were not part of the bankruptcy petition.

General Growth said it intends to reorganize with the aim of cutting its corporate debt and extending the terms of its mortgage maturities. The company has a financing commitment from Pershing Square Capital Management of about $375 million to use to operate during the bankruptcy process.

Last month, General Growth said it got lenders to waive default on a $2.58 billion credit agreement until the end of the year.

But its Rouse Co. subsidiary failed to convince enough holders of unsecured notes worth $2.25 billion as of Dec. 31 to accept a proposal that would let the unit avoid penalties for being behind on its debt payments and give it some time to refinance its debt load.

In February, the company reported lower-than-expected fourth-quarter funds from operations and a dip in revenue amid weaker retail rents.

The company has suspended its dividend, halted or slowed nearly all development projects and cut its work force by more than 20 percent. It also has sold some of its non-mall assets.



Posted by Jesse at 3:30 PM (http://jessescrossroadscafe.blogspot.com/2009/04/second-largest-us-commercial-retail.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=2670016159588954525) :verbeug

....ist wohl noch lange nicht ausgestanden :rolleyes
(http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=2670016159588954525)

lunar
17.04.2009, 16:26
Fri 17 Apr 2009

Jamie Dimon Rides Again (http://lolfed.com/2009/04/17/jamie-dimon-rides-again/)

Posted by Jason under jamie dimon (http://lolfed.com/category/jamie-dimon/)
1 Comment (http://lolfed.com/2009/04/17/jamie-dimon-rides-again/#comments)

http://lolfed.com/wp-content/uploads/jamiedimoncanhavemybabies.jpg

Tired of no longer being respected by alyx (I never lost faith!), JPM head honcho Jamie Dimon is ready to reclaim his title as CEO You’d Least Want To Eff With. His first order of business, naturally, was to announce Q1 net profits of just north of $2b for JPM just in case Wells Fargo was stealing too much thunder, and even points out on a conference call that the accounting rule changes had no effect on the company’s profits, meaning either JPM has not been using MTM all this time or the company has no assets of questionable value on its books.

Next, he’s telling the government where they can stick their money (http://www.marketwatch.com/news/story/dimon-says-jp-morgan-wont/story.aspx?guid=%7BE326D1A7-D0A5-47B3-98BD-CA79462CEF29%7D&dist=msr_1) (hint: not in his bank).
“We have no intent on using PPIP at all. We don’t need it,” Dimon said on a conference call with investors and analysts on Thursday. Dimon said if the bank wants to buy troubled assets it will buy them, but it won’t borrow from the government to do it. “We’re certainly not going to borrow from the federal government because we’ve learned our lesson about that.”

Naturally, this led to a handful of analysts declaring the PPIP dead, and naming Dimon as the trigger man. This is silly because, okay, he has probably taken a few human lives in his day, but he killed them not for sport but for the meat.

So then, on that same conference call, he suddenly reverts (http://dealbreaker.com/2009/04/jamie-dimon-is-testy-this-morn.php) to the same guy who called Bandit a jerk that one time, snapping at ML analyst Guy Moszkowski for having the audacity to ask questions. Guy violated the first rule: You will speak to Jamie Dimon only when spoken to, but you probably shouldn’t speak then either.

And if that weren’t enough, he’s telling Goldman Sachs that he could run GS better (http://www.businessinsider.com/jamie-dimon-disses-goldman-sachs-2009-4) than stupid Lloyd could. GS celebrated last Tuesday by raising $5b in a new stock issuing party, which will help them pay back half (or so) of their TARP money but which diluted their existing stock but good. Dimon’s response:
“I don’t see why a company with that kind of capital would have to raise capital…we could raise it, and I, you know, what Goldman did is what Goldman did. It has nothing to do with us.”

Ha ha ha, Lloyd fails at capitalism.



alyx (http://lolfed.com/) Says:
April 17th, 2009 at 8:31 am (http://lolfed.com/2009/04/17/jamie-dimon-rides-again/#comment-3064) http://i42.tinypic.com/2uiema0.jpg

Props, JD.




.....hmmmmm :rolleyes hoch zu Ross - so lange die Steigbügel halten :rolleyes:o

lunar
17.04.2009, 16:37
THEY WANT IT BOTH WAYS (http://www.washingtonpost.com/wp-dyn/content/article/2009/04/16/AR2009041601275.html?hpid=topnews&sid=ST2009041602291)

http://images.huffingtonpost.com/gen/75231/thumbs/r-BANK-SPLASH-huge.jpg (http://www.washingtonpost.com/wp-dyn/content/article/2009/04/16/AR2009041601275.html?hpid=topnews&sid=ST2009041602291)


Banks Rush To Repay Bailout Money While Clinging To Other Government Lifelines... Looking To Avoid Sacrifices Like Restricting Executive Pay (http://www.washingtonpost.com/wp-dyn/content/article/2009/04/16/AR2009041601275.html?hpid=topnews&sid=ST2009041602291)

Quick Read (http://www.huffingtonpost.com/2009/04/17/banks-rush-to-repay-bailo_n_188132.html) |Comments (210) (http://www.huffingtonpost.com/2009/04/17/banks-rush-to-repay-bailo_n_188132.html)| Goldman Sachs (http://www.huffingtonpost.com/news/goldman-sachs)

.....Jamie Dimon, the chief executive of J.P. Morgan Chase (http://financial.washingtonpost.com/custom/wpost/html-qcn.asp?dispnav=business&mwpage=qcn&symb=JPM&nav=el), said yesterday that he regrets accepting $25 billion in federal aid. He called the money "a scarlet letter," pledged quick repayment and renounced further borrowing from the government, saying, "We've learned our lesson about that."

But the company, which announced a $2.1 billion first-quarter profit yesterday, has not entirely had it with Washington. J.P. Morgan said it plans to continue using a separate federal aid program through which it has borrowed more than $40 billion.

Other large banks are attempting the same combination of breakup and embrace. Even as they clamor to exit the most prominent part of the bailout program by repaying government investments, firms continue to rely on other federal programs to raise even larger amounts of money.

The Treasury Department so far has invested slightly less than $200 billion in banks. Meanwhile, the Federal Deposit Insurance Corp. has helped companies, including J.P. Morgan, borrow more than $336 billion through the end of March, by guaranteeing to repay investors if the firms defaulted. And financial firms hold more than $1 trillion in emergency loans from the Federal Reserve.

Goldman Sachs (http://financial.washingtonpost.com/custom/wpost/html-qcn.asp?dispnav=business&mwpage=qcn&symb=GS&nav=el) declared a "duty" to repay the Treasury after posting a first-quarter profit. The chief executives of several large banks at a meeting last month urged President Obama to accept repayments. But no company has similarly pledged to leave the government's other aid programs.......(das ist doch wirlich ein Pack :bad)

http://www.washingtonpost.com/wp-dyn/content/article/2009/04/16/AR2009041601275.html?hpid=topnews



(http://www.washingtonpost.com/wp-dyn/content/article/2009/04/16/AR2009041601275.html?hpid=topnews)

lunar
17.04.2009, 17:29
GEHEIME TRICKS DER CIA-FOLTERKNECHTE

Sechsmal Todesangst in zwei Stunden (http://www.spiegel.de/politik/ausland/0,1518,619618,00.html)

http://www.spiegel.de/img/0,1020,1496034,00.jpg (http://www.spiegel.de/politik/ausland/0,1518,619618,00.html)
CIA-Agenten nutzten unter Präsident Bush finsterste Verhörmethoden - und hielten diese akribisch fest: vier Stunden Waterboarding an einem Tag, sieben Tage Schlafentzug. Die jetzt veröffentlichten Memos lesen sich wie ein Handbuch für Folterknechte, die keine Spuren hinterlassen dürfen. Von Friederike Freiburg mehr... (http://www.spiegel.de/politik/ausland/0,1518,619618,00.html) [ Forum (http://forum.spiegel.de/showthread.php?t=6892) ]





http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifStraffreiheit für CIA-Folterer: Obama scheut radikalen Bruch mit Bushs Erbe (http://www.spiegel.de/politik/ausland/0,1518,619492,00.html)
http://www.spiegel.de/static/sys/v8/backgrounds/bg_list_quarter.gifWaterboarding: Obama verspricht CIA-Folterern Straffreiheit (http://www.spiegel.de/politik/ausland/0,1518,619465,00.html)
.....we bring democracy to you :bad

lunar
17.04.2009, 19:38
....das scheint etwas aus dem Ruder zu laufen :rolleyes:schwitz:(

Tea Party Fallout: Independents Turned Off, GOP Worried (http://www.huffingtonpost.com/2009/04/17/tea-party-fallout-indepen_n_188235.html)

http://images.huffingtonpost.com/gen/75300/thumbs/s-TEA-large.jpg (http://www.huffingtonpost.com/2009/04/17/tea-party-fallout-indepen_n_188235.html)




Oliver Willis: Too Big To Flail (http://www.huffingtonpost.com/oliver-willis/too-big-to-flail_b_188041.html)
Dylan Loewe: The Republican Point of No Return (http://www.huffingtonpost.com/dylan-loewe/the-republican-point-of-n_b_188139.html)


Quick Read (http://www.huffingtonpost.com/2009/04/17/tea-party-fallout-indepen_n_188235.html) |
Comments (932) (http://www.huffingtonpost.com/2009/04/17/tea-party-fallout-indepen_n_188235.html)

lunar
17.04.2009, 22:32
17 April 2009

Crony Capitalism and Incompetence Doom Obama Economic Plans Says Nobel Laureate (http://jessescrossroadscafe.blogspot.com/2009/04/abusive-use-of-taxpayer-funds-and-crony.html)


http://1.bp.blogspot.com/_H2DePAZe2gA/SejC8h1oXxI/AAAAAAAAI5s/BnjiVgu6xq4/s320/yeswecan.GIF (http://1.bp.blogspot.com/_H2DePAZe2gA/SejC8h1oXxI/AAAAAAAAI5s/BnjiVgu6xq4/s1600-h/yeswecan.GIF) Nothing you have not heard here before, and frequently.

But this is a Nobel Prize winner in Economics saying it, and a Democratic appointee to boot.


"The people who designed the plans are either in the pocket of the banks or they’re incompetent."That sounds like Larry Summers and Tim Geithner in a nutshell to us.

Joe Stiglitz is assuming that Crew Obama really WANT to fix the economy and serve their nation. It seems possible that, being out of power for so many years, the Democratic leaders are handing out favors to their campaign contributors and feathering their nests for the future.

Then they'll worry about the public welfare. Political reform, Chicago-style.

The banks must be restrained, and the financial system must be reformed, before there can be any meaningful recovery in the real economy.


Bloomberg (http://www.bloomberg.com/apps/news?pid=20601087&sid=afYsmJyngAXQ&refer=home)
Stiglitz Says Ties to Wall Street Doom Bank Rescue
By Michael McKee and Matthew Benjamin

April 17 (Bloomberg) -- The Obama administration’s bank rescue efforts will probably fail because the programs have been designed to help Wall Street rather than create a viable financial system, Nobel Prize-winning economist Joseph Stiglitz said.

“All the ingredients they have so far are weak, and there are several missing ingredients,” Stiglitz said in an interview yesterday. The people who designed the plans are “either in the pocket of the banks or they’re incompetent.” (That pretty much covers Larry Summers and Tim Geithner, respectively - Jesse)

The Troubled Asset Relief Program, or TARP, isn’t large enough to recapitalize the banking system, and the administration hasn’t been direct in addressing that shortfall, he said. Stiglitz said there are conflicts of interest at the White House because some of Obama’s advisers have close ties to Wall Street.

“We don’t have enough money, they don’t want to go back to Congress, and they don’t want to do it in an open way and they don’t want to get control” of the banks, a set of constraints that will guarantee failure, Stiglitz said.

The return to taxpayers from the TARP is as low as 25 cents on the dollar, he said. “The bank restructuring has been an absolute mess.”

Rather than continually buying small stakes in banks, the government should put weaker banks through a receivership where the shareholders of the banks are wiped out and the bondholders become the shareholders, using taxpayer money to keep the institutions functioning, he said. (Personally I'd give the bondholders a very high and tight haircut - Jesse)........

http://jessescrossroadscafe.blogspot.com/2009/04/abusive-use-of-taxpayer-funds-and-crony.html

lunar
17.04.2009, 22:35
Fri 17 Apr 2009

Fail? Win? I Do Not Know (http://lolfed.com/2009/04/17/fail-win-i-do-not-know/)

Posted by Jason under all ur bankz (http://lolfed.com/category/all-ur-bankz/) , bandit (http://lolfed.com/category/all-ur-bankz/bandit/) , fail (http://lolfed.com/category/fail/) , win (http://lolfed.com/category/win/)

(http://lolfed.com/2009/04/17/fail-win-i-do-not-know/#respond)
http://lolfed.com/wp-content/uploads/banditmaybepoor.jpg

This morning, Citi posted either its smallest quartlerly loss since Herbert Hoover was in office or its first quarterly profit ever, depending on how you tweak the numbers (http://money.cnn.com/2009/04/17/news/companies/citigroup/?postversion=2009041711). Bandit being a bandit, the company is reporting a Q1 profit of $1.6b because that makes them look so much better than the actual number, which is a loss of $966m. Hey, that’s only a swing of two and a half billion dollars, so why not. Why - or more to the point, how, the discrepancy? Fuzzy math!
Yet, after taking into account the conversion price of a $12.5 billion preferred share offering from January 2008, and $1.22 billion in preferred stock dividend payments to the U.S. government among others, Citigroup reported a loss of $966 million, or 18 cents a share.

Hey, my income is a lot higher too when I don’t include my bills or taxes.

lunar
17.04.2009, 22:42
rfranklin http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/rfranklin) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=107204) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=107204) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=107204) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=107204&level=three) Fri Apr-17-09 08:10 AM
Response to Original message (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3835971&mesg_id=3835971) 27. Fantastic! GE and Citi losses beat estimates! Let's party! http://www.democraticunderground.com/discuss/images/transparent.gif
U.S. stock futures mostly up after GE, Citi results

By Steve Goldstein, MarketWatch
Last update: 7:07 a.m. EDT April 17, 2009Comments: 107LONDON (MarketWatch) -- U.S. stock futures were mostly higher on Friday, as General Electric and Citigroup both beat analyst estimates on their first-quarter results.
S&P 500 futures rose 3.1 points to 864.60 and Dow industrial futures rose 32 points, while Nasdaq 100 futures slipped 2.5 points to 1,349.50.
The 18 cents-a-share loss for Citi (C:Citigroup Inc 4.01, +0.04, +1.0%) and the 26-cents-a-
share earnings from continuing operations profit at General Electric (GE:General Electric Co
GE 12.27, +0.44, +3.7%) both came in ahead of market estimates

http://www.marketwatch.com/news/story/US-stock-futures-... (http://www.marketwatch.com/news/story/US-stock-futures-mostly-up/story.aspx?guid=%7BEEA9CFB5%2D8E75%2D41F4%2DA69E%2D7057624DA004%7D)



TheWatcher (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=120492) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=120492) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=120492) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=120492&level=three) Fri Apr-17-09 08:15 AM
Response to Reply #27 (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3835971&mesg_id=3836093) 29. Bring Out Your Dead! Edited on Fri Apr-17-09 08:16 AM by TheWatcher

http://affordablehousinginstitute.org/blogs/us/wp-content/uploads/2007/09/imagesgrail-bring-out-your-dead-small1.jpg

We're Not Dead Yet!

(You're Not Fooling Anyone, You Know)

We're Not Quite As Bankrupt As We Thought!

(Shut Up, You'll be Stone Dead In A Moment!)

I Think We'll Have A Bit Of A Walk!

We Feel HAPPYYYYYYY! HAPPYYYYY!

lunar
18.04.2009, 10:23
Guest Post: The Real Implications Of China's Currency Policy (http://zerohedge.blogspot.com/2009/04/guest-post-real-implications-of-chinas.html)

Posted by Tyler Durden at 5:27 PM (http://zerohedge.blogspot.com/2009/04/guest-post-real-implications-of-chinas.html)
Submitted by Ranjan Roy of Shadow Bankers (http://shadowbankers.wordpress.com/)

Yesterday, as Americans paid their taxes and partied like it was 1773 (http://taxdayteaparty.com/), China took yet another action little noticed in the American media, but with major long term implications. China finalized a deal with Argentina, arranging a $10.2bn currency swap of their respective currencies (70bn CNY/38bn ARS). While Michele Bachmann and the like were up in arms after Zhou Xiaochuan, Governor of the People’s Bank of China (PBoC), suggested that SDRs (http://shadowbankers.wordpress.com/2009/04/15/michele-bachmann-and-sdrs/) could potentially function as a new global reserve currency, this particular story appears to have garnered little attention from those paranoid of a “one world currency (http://yglesias.thinkprogress.org/archives/2009/03/bachmann_and_beck_double_down_on_currency_conspiracy_theory.php)“. However, this development is of crucial strategic importance and should be recognized by US policymakers as a development that must be addressed, rather than proposing legislation that doesn’t even begin to make any sense (http://shadowbankers.wordpress.com/2009/04/15/michele-bachmann-and-sdrs/).

The move will allow Argentineans to directly access Chinese Yuan for trade, rather than having to settle in US Dollars. Previously, as the USD has been the primary reserve currency for international trade, an importer would have to cross two “spreads”, first converting ARS to USD, and then the USD to CNY (just imagine having to go to the airport currency exchange twice just to buy a souvenir). The Argentine Central Bank is explaining the move as a “contingency plan to bolster liquidity amid the global financial crisis,” but this vague statement is better explained by Passport at Foreign Policy (http://blog.foreignpolicy.com/posts/2009/04/01/china_adds_some_bite_to_its_bark_on_the_dollar):As Xinhua reports (http://news.xinhuanet.com/english/2009-03/31/content_11106499.htm), the Argentines can essentially use the RMB as extra cash to pay for imports. But one might note that, since the Yuan is not a convertible currency, the money can only be used to purchase goods from — you guessed it — China, potentially giving a boost the Dragon’s ailing export sector (http://www.theepochtimes.com/n2/content/view/14457/). China’s economy has suffered along with the rest of the world since they have long been reliant on export-led growth, and in this market, major trading partners just aren’t importing any more. And so this currency swap is shrewd move for China, in that it has the dual effect of both promoting Chinese exports to Argentina, while also allowing this trade to be settled in Yuan rather than Dollars. Michele Bachmann’s paranoia meter should have been turned up a notch, since with this move, China has slowly begun initiating a shift away from the USD while simultaneously increasing its economic presence in an unfamiliar region. It marks yet another step towards full convertibility of the Yuan. While the swap shouldn’t incite outright panic, US policymakers need to recognize these coordinated actions in the broader context. This isn’t just about the US Dollar: it’s about our leadership role in these regions.

This swap is the sixth of its kind since this past December, with South Korea, Malaysia, Indonesia, Hong Kong and Belarus all coming to similar arrangements with the PBoC, totaling 650bn CNY ($95bn USD). (http://www.reuters.com/article/marketsNews/idUSN3140947120090331) Note that last fall, as the Federal Reserve “stepped it up” and arranged currency swaps with many central banks, including swaps worth $30bn USD with both Brazil and Mexico, economies like Argentina were left out. Romero and Barrionuevo at the NYT (http://www.nytimes.com/2009/04/16/world/16chinaloan.html?hp) have documented a number of additional coordinated initiatives China is taking in nations generally ignored by the US, including direct loans to Ecuador and Venezuela.

Both the rise of China’s presence globally, along with the eventual shift away from the USD as the sole reserve currency, are generally accepted as longer-term eventualities. In the meantime, the United States must recognize that it is in our interest to get our own house in order while not ignoring nations that have looked to us for leadership in the past, rather than turning inward and resorting to protectionism. Sphere: Related (http://www.sphere.com/search?q=sphereit:http://zerohedge.blogspot.com/2009/04/guest-post-real-implications-of-chinas.html/)

http://zerohedge.blogspot.com/

http://en.wikipedia.org/wiki/Special_Drawing_Rights

....umdenken :cool

lunar
19.04.2009, 20:17
http://www.newsoftheworld.co.uk/multimedia/archive/00035/slumdog_header_1904_35672a.jpg
Father tries to cash in on daughter's fame



By Mazher Mahmood, 19/04/2009

THE poverty-stricken father of Slumdog Millionaire child star Rubina Ali plans to become a millionaire himself-by SELLING his nine-year-old daughter.

In a bid to escape India's real-life slums, Rafiq Qureshi put angel-faced darling of the Oscars Rubina up for adoption, demanding millions of rupees worth £200,000.

As he offered the shocking deal to the News of the World's undercover fake sheik this week, Rafiq declared: "I have to consider what's best for me, my family and Rubina's future."

Rafiq tried to blame Hollywood bosses for forcing him to put his daughter up for SALE.

As he tried to fix the illegal adoption deal, real-life slum dweller Rafiq declared: "We've got nothing out of this film."

Then, almost embarrassed to speak it out loud, he whispered to an accomplice the price tag he has put on his innocent young daughter: "It's £200,000!"

That was an astonishing FOURFOLD increase on his opening demand. But Rafiq's equally demanding brother Mohiuddin insisted: "The child is special now. This is NOT an ordinary child. This is an Oscar child!"


http://www.newsoftheworld.co.uk/multimedia/archive/00035/slum516ws_35524a.jpgBUY MY DAUGHTER: Father Rafiq (centre) and uncle Rajan More (left) pose with Rubina and our undercover team

Dad Rafiq is desperate to cash in on their nine-year-old's success in the blockbuster film by selling her to the highest bidder.

He sees it as his family's escape route from the notorious Bandra slum sprawl of Mumbai.

Rafiq revealed his scheme to undercover News of the World reporters posing as a wealthy family from Dubai.....

full sad story: http://www.newsoftheworld.co.uk/news/271325/Slumdog-Millionaire-star-Rubina-Ali-who-played-Latika-is-offered-for-sale-by-dad-Rafiq-Qureshi-to-the-News-of-the-Worlds-Fake-Sheikh.html

.....was soll man dazu noch sagen :( wie weit da auch die Hollywooder eine Rolle spielen (....oder eben nicht :rolleyes) :nw

lunar
19.04.2009, 20:27
NEW YORK TIMES: IMPEACH TORTURE MEMO AUTHOR (http://www.huffingtonpost.com/2009/04/19/jay-bybee-nyt-calls-for-i_n_188680.html)

http://images.huffingtonpost.com/gen/75511/thumbs/r-IMPEACH-BYBEE-huge.jpg (http://www.huffingtonpost.com/2009/04/19/jay-bybee-nyt-calls-for-i_n_188680.html)

CIA Waterboarded Khalid Sheikh Mohammed 183 Times In One Month...
Abu Zubaydah 83 Times In One Month (http://emptywheel.firedoglake.com/2009/04/18/khalid-sheikh-mohammed-was-waterboarded-183-times-in-one-month/)

.......Sunday's New York Times called on Congress to impeach (http://www.nytimes.com/2009/04/19/opinion/19sun1.html?_r=1) federal judge Jay Bybee over his now infamous role in authoring one of the Bush administration memos (http://www.huffingtonpost.com/2009/04/16/bush-torture-memos-releas_n_187867.html) arguing for the legality of torture.

"These memos make it clear that Mr. Bybee is unfit for a job that requires legal judgment and a respect for the Constitution," wrote the paper. "Congress should impeach him."

Separately, Sen. Claire McCaskill left open the door to pursuing such a course during an appearance on Fox News Sunday. Asked by host Chris Wallace whether she would favor the impeachment of Bybee, who sits on the United States Court of Appeals for the Ninth Circuit, the Missouri Democrat replied: "I think we have to look at it. But I think we do need to sort out how do you get lawyers at the top levels of the Justice Department to give this kind of advice."

"The lawyers that gave this advice, what's scary to me is one of them got a lifetime appointment on the federal bench," McCaskill said earlier. "Yikes! A lawyer responsible for this kind of advice that clearly went too far in terms of stretching what our law is. It worries me that he's sitting on the federal bench right now. Now, whether we should go down the road, I don't think we want to look in the rearview mirror. I think this president has made that very clear. We've got big problems ahead of us we need to focus on. But I do think there probably needs to be more questions asked of the lawyers who gave this advice.".....

http://www.huffingtonpost.com/2009/04/19/jay-bybee-nyt-calls-for-i_n_188680.html

....democracy :gomad

lunar
20.04.2009, 08:48
Kinderjäger auf dem Schulhof

Von Henrik Bork, Peking Chinesische Beamte stehen wegen mutmasslichen Missbrauchs von Minderjährigen vor Gericht. Doch die Justiz tut sich schwer mit dem Fall.

Sie nannten sie «shubaomei», die Schultaschenmädchen. Es waren junge Schulmädchen, denen sie auflauerten. Sie lockten sie vom Schulhof, um sie zu vergewaltigen. Einige waren erst dreizehn. Ganz China ist derzeit empört über diesen Fall, dies jedoch nicht allein wegen der Abscheulichkeit der Tat. Für Aufregung sorgt auch die Tatsache, dass ein Lehrer und fünf kommunistische Kader unter den mutmasslichen Tätern sind. Und dass vor Gericht versucht wird, die Tat der Kader zu verharmlosen.

Der Fall wird seit Anfang April vor dem Volksgericht von Xishui in der Südprovinz Guizhou verhandelt. Angeklagt sind unter anderem der Berufsschullehrer Feng Zhiyang, der Leiter des Bezirksamts für Siedlungswesen, Li Shouming, der Justizbeamte Chen Cun, der Abgeordnete des lokalen Volkskongresses, Mu Mingzhong und der Taxifahrer Feng Yong. Sie werden verdächtigt, zu den Stammkunden eines kriminellen Ringes gehört zu haben, der systematisch Kinder aus den Schulen des Ortes entführt hat.

Der Ring war erst aufgeflogen, als das 14-jährige Opfer Li Qing ihre Grossmutter anflehte, nicht mehr zur Yuhai-Mittelschule gehen zu müssen. Vor der Schule lauerten «Kinderjäger», sagte das Mädchen. Zwei drogensüchtige Minderjährige sollen sich Geld damit verdient haben, die Mädchen in die Wohnung einer Zuhälterin zu locken. Dort sollen die Kinder dann mit Schlägen und «Giftspritzen» gefügig gemacht worden sein.

Besonders gefragt waren Jungfrauen. «Ich hatte solche Angst. Ich wurde in ein Hotelzimmer geschleppt, und der Mann verriegelte die Tür und zog mich aus. Ich weinte die ganze Zeit», erzählte Li Qing. Dann sei sie vergewaltigt worden.

Chinas staatliche Medien dürfen nach einigen anfänglichen Berichten nicht mehr ausführlich über den Fall schreiben. Im Internet aber haben Blogger Interviews mit den Familien der Opfer veröffentlicht. Die Leser äussern sich angewidert. «Das sind doch Monster!» und «Schlimmer als Mord» sind typische Kommentare. Auch an den juristischen Fakultäten mehrerer Hochschulen in Peking ist der Fall das Flurgespräch schlechthin.

Anklage wurde abgemildert

Ein Grund für die Empörung ist das Vorgehen der örtlichen Justizbehörden. Anstatt die Männer der Vergewaltigung anzuklagen, wie bei sexuellem Missbrauch von Minderjährigen unter 14 Jahren in China üblich, hat der Staatsanwalt eine Anklage wegen «Frequentierens minderjähriger Prostituierter» eingereicht. Anders als für Vergewaltigung steht darauf nicht maximal die Todesstrafe.

Viele Chinesen vermuten, dass die von der Kommunistischen Partei eingesetzten Justizbeamten die kommunistischen Kader unter den Angeklagten schützen wollen.

Kommunistische Justizbeamte wollen kommunistische Angeklagte schützen."

http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/20/010/

:(:gomad

lunar
20.04.2009, 09:11
Criticism Grows Of Obama's Decision Not To Prosecute CIA Agents (http://www.huffingtonpost.com/2009/04/19/opposition-grows-to-obama_n_188768.html)

http://images.huffingtonpost.com/gen/75190/thumbs/s-WATERBOARDING-large.jpg (http://www.huffingtonpost.com/2009/04/19/opposition-grows-to-obama_n_188768.html)

....ich meine auch - einfach hinter sich lassen ist nicht rechtens :mad

lunar
20.04.2009, 09:19
Biggest Bailed Out Banks Reduced Lending Since Getting Funds (http://www.huffingtonpost.com/2009/04/20/most-bailed-out-banks-red_n_188796.html)

http://images.huffingtonpost.com/gen/75556/thumbs/r-GOLDMAN-SACHS-large.jpg (http://www.huffingtonpost.com/2009/04/20/most-bailed-out-banks-red_n_188796.html)


Lending By Goldman Sachs Dropped More Than 50% From October '08 To February '09... Chase: 35%... Citi: 24% (http://online.wsj.com/public/resources/documents/st_LENDING0904_20090417.html)






Quick Read (http://www.huffingtonpost.com/2009/04/20/most-bailed-out-banks-red_n_188796.html) |
Comments (71) (http://www.huffingtonpost.com/2009/04/20/most-bailed-out-banks-red_n_188796.html)
| The Bailouts (http://www.huffingtonpost.com/news/bailout)

lunar
20.04.2009, 15:22
Mon 20 Apr 2009

This Is Getting Ridiculous (http://lolfed.com/2009/04/20/this-is-getting-ridiculous/)

Posted by Jason under fail (http://lolfed.com/category/fail/)
No Comments (http://lolfed.com/2009/04/20/this-is-getting-ridiculous/#respond)
http://lolfed.com/wp-content/uploads/kenlewispwnshimself.jpg

So I was mildly surprised when Wells Fargo announced their Q1 profits, a little skeptical when JPM did the same, in utter disbelief when Citi did so, and now Bank of America’s $4.25b profit claim (http://online.wsj.com/article/SB124021187032334351.html) has me convinced they are just out-and-out lying and making up numbers. And as it happens, I’m right to think these numbers are pretty meaningless.
Credit-loss provisions more than doubled to $13.38 billion and climbed from the prior quarter’s $8.54 billion, while the net charge-off rate rose to 2.85% from 1.25% a year earlier and 2.36% in the fourth quarter. Credit-card losses increased to 8.62% from 5.19% and total nonperforming assets jumped to 2.65% from 0.9% in the prior year and 1.96% in the fourth quarter.

So, yeah, more FAIL is definitely on the horizon unless some more last-minute accounting rule changes allow banks to count their credit card losses as if they were paid off in full. Since BAC is the second-largest credit card issuer in the country (behind Chase), a 3.5% jump in losses in that division is no joke. Well, it’s no joke for BAC, it’s definitely a joke here. In fact, while I’m sure a lot of attention will be paid to the net profit number, the real tale is in the other numbers - more bad loan assets, less credit card revenue, and so forth and so on, because no one has a job anymore and can’t pay back the bank and the profits this quarter were largely because of Merrill and just aren’t sustainable, but screw it because good news is good news so whatever.

Seemingly no one else is buying this news either; BAC stock futures are down and the cost of CDSs on the company’s debt went up, after the earnings report was released. Oh, and everyone still wants Ken Lewis fired. This is sort of like when the Ravens won the Super Bowl and Trent Dilfer got the boot in the offseason, because he fails at life and his job.

lunar
20.04.2009, 15:30
Demeter http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/Demeter) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=131994) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=131994) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=131994) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=131994&level=three) Mon Apr-20-09 08:48 AM
Response to Original message (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=3839548&mesg_id=3839548) 41. Alarming News: Bank Losses Spreading! http://www.democraticunderground.com/discuss/images/transparent.gif http://www.moneyandmarkets.com/alarming-news-bank-losse... (http://www.moneyandmarkets.com/alarming-news-bank-losses-spreading-32910)

03-30-09
For the first time in history, U.S. banks have suffered large, ominous losses in a giant sector that, until now, they thought was solid: bets on interest rates...
According to the fourth quarter report just released this past Friday by the Comptroller of the Currency (OCC), commercial banks lost a record $3.4 billion in interest rate derivatives, or more than seven times their worst previous quarterly loss in that category.

And here’s why the losses are so ominous:

Until the third quarter of last year, the banks’ losses in derivatives were almost entirely confined to credit default swaps — bets on failing companies and sinking investments.
Next major risk area: Interest Rate Derivatives

But credit default swaps are actually a much smaller sector, representing only 7.8 percent of the total derivatives market.

Now, with these new losses in interest rate derivatives, the disease has begun to infect a sector that encompasses a whopping 82 percent of the derivatives market.

Thus, considering their far larger volume, any threat to interest rate derivatives could be far more serious than anything we’ve seen so far.

Meanwhile, time bombs continue to explode in the credit default swaps as well, delivering another massive loss of nearly $9 billion in the fourth quarter.

And remember: These represent the aggregate total for the entire banking industry, after netting out the results of banks with profitable trading....

MORE WITH CHARTS AT LINK

lunar
20.04.2009, 18:19
nach 12:55 und de Züri-Früehlig isch cho :)

lunar
20.04.2009, 21:27
Mon 20 Apr 2009

One Way Or Another (http://lolfed.com/2009/04/20/one-way-or-another-2/)

Posted by Jason under Timmay (http://lolfed.com/category/timmay/) , all ur bankz (http://lolfed.com/category/all-ur-bankz/) , bailout (http://lolfed.com/category/bailout/)
1 Comment (http://lolfed.com/2009/04/20/one-way-or-another-2/#comments)

http://lolfed.com/wp-content/uploads/stayawayfrommine.jpg

When is a bank nationalization not a bank nationalization? When you don’t call it one (http://www.nytimes.com/2009/04/20/business/20bailout.html?_r=1&ref=business), apparently.

So here’s what’s what. In government, the only real n-word is “nationalization” because free market yada yada yada. It’s downright un-American to even consider nationalizing banks, you see, owing to something to do with the entrepeneurial spirit and tea parties and widespread incompetence, etc. You must never do it, or even say you’re going to do it, even if in hindsight it was maybe the right thing to have done and would have cost a darn sight less of that taxpayer money that everyone’s so up in arms about.

What you can do, however, is when you as a government hold as collateral for bailout loans you gave some banks a ton of convertible shares, you convert those shares into common stock so the bank can actually spend that money as capital. So what if existing shareholders get diluted worse than booze on a cruise ship? They’re taxpayers too, so they only diluted themselves with their own money. So this is what Geithner and Co. are supposedly mulling over. Those naysaying critics say this is a backdoor to nationalization, which would be a totally valid point if this hadn’t already happened to Citi and all we did was give the board of directors the boot instead of rolling up in there like we owned the place and redecorating offices and giving ourselves free loans.

Still, this will get us closer to full on nationalization, which if nothing else should make Krugman happy.

lunar
20.04.2009, 21:46
<h1>THE STREET AIN'T BUYING IT (http://www.huffingtonpost.com/2009/04/20/wall-street-slides-as-inv_n_189021.html)

http://images.huffingtonpost.com/gen/75718/thumbs/r-MONDAYMARKET-huge.jpg (http://www.huffingtonpost.com/2009/04/20/wall-street-slides-as-inv_n_189021.html)

Bank of America Posts First Quarter Profit... Took $13.4 Billion Provision For Credit Losses... Worried Investors Concerned About Banking Industry's Health (http://www.huffingtonpost.com/2009/04/20/bank-of-america-posts-1q-_n_188864.html)

SLIDESHOW: Banks' Quarterly Earnings And Why They Are Misleading (http://www.huffingtonpost.com/2009/04/20/banks-quarterly-earnings_n_189077.html)





Quick Read (http://www.huffingtonpost.com/2009/04/20/wall-street-slides-as-inv_n_189021.html) |
Comments (http://www.huffingtonpost.com/2009/04/20/wall-street-slides-as-inv_n_189021.html)
| Financial Crisis (http://www.huffingtonpost.com/news/wall-street)

lunar
20.04.2009, 22:16
Nach Bericht von report MÜNCHEN : Untersuchungsausschuss kommt (http://www.br-online.de/das-erste/report-muenchen/report-hrepresse-sendungsseite-ID1238064216906.xml)

http://www.br-online.de/content/cms/Universalseite/2009/03/26/cumulus/BR-online-Publikation--316146-20090320102718.jpg (http://www.br-online.de/das-erste/report-muenchen/report-hrepresse-sendungsseite-ID1238064216906.xml) Die drei Bundestagsfraktionen von FDP, Bündnis 90/ Die Grünen und Linkspartei wollen Finanzminister Peer Steinbrück vor einem Untersuchungsausschuss zum Fall des schwer angeschlagenen Immobilienfinanzierers Hypo Real Estate (HRE) befragen. [http://www.br-online.de/image/icon/pfeil.gifmehr] (http://www.br-online.de/das-erste/report-muenchen/report-hrepresse-sendungsseite-ID1238064216906.xml)

Nach Bericht von report MÜNCHEN Untersuchungsausschuss kommt

Untersucht werden soll die Rolle des Bundesministeriums der Finanzen (BMF). Für alle drei Parteien lautet die Kernfrage, ob durch ein frühzeitiges Eingreifen des BMF Schaden vom deutschen Steuerzahler hätte abgewendet werden können.

Von Sabina Wolf
Stand: 25.03.2009 So hat das BMF zum Beispiel trotz frühzeitiger Informationen über Liquiditätsschwierigkeiten bei der HRE-Gruppe durch die Bankenaufsicht BAFIN im Frühjahr 2008 anscheinend keine Konsequenzen gefordert. Den mittlerweile in der Geheimschutzstelle des Deutschen Bundestages verwahrten Bericht der BAFIN hatte das ARD-Politmagazin report MÜNCHEN am 26.01.2009 veröffentlicht. In dem Bericht ist schon zum damaligen Zeitpunkt von einer als kritisch anzusehenden Refinanzierung die Rede. In einer kleinen Anfrage der FDP-Fraktion vom 11. Februar 2009 räumte das BMF gestern ein, das zuständige Fachreferat im BMF habe Anfang 2008 einen ersten Hinweis auf die "mögliche liquiditätsseitige Anfälligkeit" erhalten. Erst nach dem Zusammenbruch der US-Bank Lehman Brothers sei die Leitung des Hauses am 22.09.2008 unterrichtet gewesen. Die Antworten würden mehr Fragen aufwerfen, als sie beantworteten, meint der FDP-Abgeordnete Volker Wissing heute Nachmittag nach ersten Gesprächen über Fragen im Untersuchungsausschuss mit den GRÜNEN und der Linkspartei gegenüber ARD report MÜNCHEN. "Es geht um Milliarden an Steuergeldern und der Finanzminister hüllt sich gegenüber dem Parlament in Schweigen. Steinbrück hat damit den Verzicht auf einen Untersuchungsausschuss unmöglich gemacht." Zur Absicht der GRÜNEN-Bundestagsfraktion der Bündnis 90/ Die Grünen, einen Untersuchungsausschuss zur HRE einzusetzen, erklärt Gerhard Schick, finanzpolitischer Sprecher auf Anfrage: "Im Kern geht es uns darum aufzuklären, ob es durch Fehlverhalten der Bundesregierung beim HRE-Krisenmanagement zu einer Höherbelastung der Steuerzahlerinnen und Steuerzahler gekommen ist, und welche Lehren daraus für die Zukunft zu ziehen sind." Eine weitere wichtige Frage im Untersuchungsausschuss soll die Bedeutung des Tages der Veröffentlichung der dramatischen Schieflage bei der HRE spielen. Die Öffentlichkeit war am 29.09.2008 von Finanzminister Peer Steinbrück informiert worden. Nach Recherchen des ARD-Politmagazins report MÜNCHEN ist das genau fünf Jahre nach der Geburtsstunde der Hypo Real Estate. Am 29.09.2008 war die 5-jährige Verjährungsfrist nach dem Umwandlungsgesetz abgelaufen. Ob und wenn ja welche Rolle der Ablauf der Schadenersatzfrist am 28.09.2008 gespielt haben könnte, soll der Ausschuss ebenfalls klären. Im ARD-Politmagazin report MÜNCHEN vom 26.01.2009 hatte das BMF dazu eigene Versäumnisse von der Hand gewiesen und auf die Konzernspitze der HRE verwiesen: "…ob die Geschäftsführung der HRE der Öffentlichkeit möglicherweise bewusst Informationen zurückgehalten hat", dazu könne das BMF "mit Hinweis auf das laufende Ermittlungsverfahren der Staatsanwaltschaft München nicht Stellung nehmen", hieß es damals. Steinbrück wirft der Opposition vor, mit dem HRE-Ausschuss Wahlkampf zu betreiben. In der CDU/CSU-Fraktion hieß es, der Ausschuss sei das gute Recht der Opposition. Die Hypo Real Estate war durch riskante Finanzgeschäfte in Schieflage geraten. Eine Insolvenz konnte bisher nur durch Garantien von über 102 Mrd. Euro von Bund und Banken abgewendet werden.

Diese Pressemitteilung ist frei verwendbar unter Quellenangabe des ARD-Politmagazins "report MÜNCHEN".

Zur Übersicht: report MÜNCHEN http://www.br-online.de/image/icon/pfeil.gif (http://www.br-online.de/das-erste/report-muenchen/index.xml)
....vielleicht auch mal etwas vor der eigenen Tür kehren :Prost :bad

lunar
20.04.2009, 22:20
report MÜNCHEN Das Politmagazin

Die Sendung am 20.04.2009

report Aufreger
Rettungsschirm für Banken : Bürger gehen leer aus (http://www.br-online.de/das-erste/report-muenchen/report-banken-wertpapiere-ID1239906872046.xml)

http://www.br-online.de/content/cms/Universalseite/2009/04/16/cumulus/BR-online-Publikation--296784-20090222160805.jpg (http://www.br-online.de/das-erste/report-muenchen/report-banken-wertpapiere-ID1239906872046.xml) Banken dürfen ihre schlechten Wertpapiere an den Staat verkaufen, die Bürger haben diese Möglichkeit nicht. Dass Banken bevorzugt werden, könnte daran liegen, dass am Finanzmarktstabilisierungsgesetz ausgerechnet eine Kanzlei mitgeschrieben hat, die sonst Banken berät. [http://www.br-online.de/image/icon/pfeil.gifmehr] (http://www.br-online.de/das-erste/report-muenchen/report-banken-wertpapiere-ID1239906872046.xml)

....doch nicht etwa Doppelmoral :Prost :bad

lunar
20.04.2009, 22:39
Bringt Strassburg den biometrischen Pass zu Fall? (http://www.tagesanzeiger.ch/schweiz/standard/Bringt-Strassburg-den-biometrischen-Pass-zu-Fall/story/21828421)

http://files.newsnetz.ch/story/2/1/8/21828421/7/teaserbreit.jpg (http://www.tagesanzeiger.ch/schweiz/standard/Bringt-Strassburg-den-biometrischen-Pass-zu-Fall/story/21828421) Bei einem Ja zum biometrischen Pass erwägen die Gegner den Gang an den Europäischen Gerichtshof für Menschenrechte. Mehr... (http://www.tagesanzeiger.ch/schweiz/standard/Bringt-Strassburg-den-biometrischen-Pass-zu-Fall/story/21828421)

Von Andreas Weidmann.






Darum gehts beim umstrittenen Pass wirklich (http://www.tagesanzeiger.ch/schweiz/standard/Darum-gehts-beim-umstrittenen-Pass-wirklich/story/23623270)
Neuer Pass: Ein Chip mit Antenne weckt Ängste vor «Big Brother» (http://www.tagesanzeiger.ch/schweiz/standard/Neuer-Pass-Ein-Chip-mit-Antenne-weckt-ngste-vor-Big-Brother/story/31479726)
....ich weiss nicht - aber warum wird man nicht gleich mal so rein "zur Sicherheit" auf eine Liste für ev. möglich mal in Verdacht oder wie oder wo oder was es könnte ja sein..... :rolleyes:mad:dumm ...Freiheit nein danke :gomad wir wollen doch alle nur noch Saubermänner :bad und die uns kontrollieren tragen selbstredend nur blütenreine Westen :bad

lunar
20.04.2009, 22:46
.....die CHler sind schon etwas sehr sehr simpel :rolleyes


Iran feiert die Schweiz als gute Freundin (http://www.tagesanzeiger.ch/schweiz/standard/Iran-feiert-die-Schweiz-als-gute-Freundin/story/20838329)

http://files.newsnetz.ch/story/2/0/8/20838329/5/teasermedium.jpg
(http://www.tagesanzeiger.ch/schweiz/standard/Iran-feiert-die-Schweiz-als-gute-Freundin/story/20838329)
Eine Panne führte dazu, dass Merz und Ahmadinejad nett plaudernd im Bild festgehalten wurden. Der Iran schlägt nun Profit daraus. Israel ist empört und zieht den Botschafter ab. Mehr... (http://www.tagesanzeiger.ch/schweiz/standard/Iran-feiert-die-Schweiz-als-gute-Freundin/story/20838329)





Ahmadinejad sorgt für Eklat in Genf (http://www.tagesanzeiger.ch/schweiz/standard/Iran-feiert-die-Schweiz-als-gute-Freundin/story/20838329)


Schweizer Delegierte blieben im Saal bei Ahmadinejads Hetzrede (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)
Eklat: Ahmadinejad mit «Hassrede» – Delegierte verlassen den Saal (http://www.tagesanzeiger.ch/schweiz/standard/Eklat-Ahmadinejad-mit-Hassrede--Delegierte-verlassen-den-Saal/story/27893770)
Schweizer Delegierte blieben im Saal bei Ahmadinejads Hetzrede (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)

http://files.newsnetz.ch/story/3/0/5/30587739/103/teasermedium.jpg (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)
Das Treffen zwischen Hans-Rudolf Merz und Mahmud Ahmadinejad belastet die diplomatischen Beziehungen zwischen der Schweiz und Israel. Aber auch die Juden in der Schweiz sind irritiert. Mehr... (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)


Ahmadinejad sorgt für Eklat in Genf (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)


Uno-Chef Ban Ki-moon tadelt Ahmadinejad (http://www.tagesanzeiger.ch/schweiz/standard/UnoChef-Ban-Kimoon-tadelt-Ahmadinejad/story/17538428)
Eklat: Ahmadinejad mit «Hassrede» – Delegierte verlassen den Saal (http://www.tagesanzeiger.ch/schweiz/standard/Eklat-Ahmadinejad-mit-Hassrede--Delegierte-verlassen-den-Saal/story/27893770)

lunar
21.04.2009, 08:58
Crimes suspected in 20 bailout cases -- for starters

April 21, 2009
Reporting from Washington and Los Angeles -- In the first major disclosure of corruption in the $750-billion financial bailout program, federal investigators said Monday they have opened 20 criminal probes into possible securities fraud, tax violations, insider trading and other crimes.

The cases represent only the first wave of investigations, and the total fraud could ultimately reach into the tens of billions of dollars, according to Neil Barofsky, the special inspector general overseeing the bailout program.

The disclosures reinforce fears that the hastily designed and rapidly changing bailout program run by the Treasury Department and Federal Reserve is going to carry a heavy price of fraud against taxpayers -- even as questions grow about its ability to stabilize the nation's financial system.

Barofsky said the complex nature of the bailout program makes it "inherently vulnerable to fraud, waste and abuse, including significant issues relating to conflicts of interest facing fund managers, collusion between participants, and vulnerabilities to money laundering."...

full story: http://www.latimes.com/news/nationworld/nation/la-na-tarp-fraud21-2009apr21,0,2443377.story?track=rss

....dem Beschiss bleiben also nach wie vor sämtlich Türen geöffnet - und das nicht nur auf steuerlicher Seite :Prost :bad

lunar
21.04.2009, 09:17
Cheney schiesst wohl lieber auf "Freunde" als einem "Feind" die Hand zu reichen :mad

WATCH: Cheney Slams Obama For Chavez Handshake, Overseas Trips (http://www.huffingtonpost.com/2009/04/20/cheney-slams-obama-again_n_189268.html)

http://images.huffingtonpost.com/gen/75767/thumbs/s-CHENEY-INTERVIEW-WITH-HANNITY-large.jpg (http://www.huffingtonpost.com/2009/04/20/cheney-slams-obama-again_n_189268.html)

"I Don't Think We've Got Much To Apologize For" (http://www.huffingtonpost.com/2009/04/20/cheney-slams-obama-again_n_189268.html)



Quick Read (http://www.huffingtonpost.com/2009/04/20/cheney-slams-obama-again_n_189268.html) |
Comments (http://www.huffingtonpost.com/2009/04/20/cheney-slams-obama-again_n_189268.html)
:kotz Dick Cheney (http://www.huffingtonpost.com/news/dick-cheney)

lunar
21.04.2009, 14:14
April 19, 2009
Why we forgot how to grow food

As a food shortage looms, people are digging for Britain — and their dinner table. John-Paul Flintoff gets back to our roots

Not long before Christmas, a man walked into the care home next door to his house and asked the manager if it would be possible for a group of neighbours to grow food in the vast gardens. The manager said he would be delighted. In the days that followed, the man casually asked various neighbours whether they would like to get involved. They all said yes. So he popped over to the care home with them, and each remarked how large the garden was, and what a lot of food could be grown there.

As well as beds for vegetables, there could be fruit trees trained to grow up the south-facing walls, a bed of herbs for the kitchens, and flowers to take inside. The group could perhaps even keep chickens, once the fruit and veg were up and running.

The man went home after each trip feeling tremendously pleased with himself. I know this, because the man was me. Now, it’s not as if I did anything special: I didn’t lift a spade. Many people have done considerably more, as part of a grass-roots movement spreading rapidly across the nation, to grow our own food. And fast. Because for the first time in decades, Britain faces the real prospect of severe food shortages.

About 40% of the food we eat is imported. That includes an astounding 95% of our fruit and most of the wheat in our bread. This reliance on goods from abroad is perilous. During the 2000 fuel strike, Sainsbury’s chief executive wrote to the prime minister to warn that food supplies would run out “in days rather than weeks”. Supermarkets rationed bread, sugar and milk. The situation is now arguably worse: world food reserves are at historically low levels, and last year several countries stopped exporting staples because their own populations were going hungry. ......

full story: http://www.timesonline.co.uk/tol/life_and_style/food_and_drink/real_food/article6098277.ece

....wohl dem, der einen Garten hat :cool

lunar
21.04.2009, 14:26
20 April 2009

Our Modern Financial System: Hypocrisy on Parade (http://jessescrossroadscafe.blogspot.com/2009/04/our-modern-financial-system.html)


http://1.bp.blogspot.com/_H2DePAZe2gA/Se0v4wGaInI/AAAAAAAAI58/AxMJa-JQHOA/s400/usbanksnaked.jpg (http://1.bp.blogspot.com/_H2DePAZe2gA/Se0v4wGaInI/AAAAAAAAI58/AxMJa-JQHOA/s1600-h/usbanksnaked.jpg)





Posted by Jesse at 10:19 PM (http://jessescrossroadscafe.blogspot.com/2009/04/our-modern-financial-system.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=5649381958338641213) :verbeug

_SL_
21.04.2009, 15:06
Schweizer Delegierte blieben im Saal bei Ahmadinejads Hetzrede (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)

http://files.newsnetz.ch/story/3/0/5/30587739/103/teasermedium.jpg (http://www.tagesanzeiger.ch/schweiz/standard/Schweizer-Delegierte-blieben-im-Saal-bei-Ahmadinejads-Hetzrede/story/30587739)

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1233460#post1233460)
"hetzrede" :hihi :kopf

wenn hier jemand hetzt, dann der rest der heuchlerischen und verlogenen welt gegen den iranischen präsidenten.. :ne
die ganze konferenz ist auchn witz.
deutschland wird heute noch für verbrechen verurteilt, die lange zurückliegen, manche sogar anzweifeln + die heutige generation bei weitem auch nix mehr zu tun hat damit :ne
aber wenn israel rassismus, morde oder verbrechen gegen andere in der HEUTIGEN zeit begeht, ist das natürlich was anderes, richtig usw.. :zz

zum glück sind die menschen nicht so blöd und dumm, wie es die EU, die politiker, die medien usw. gerne hätten!! :rolleyes :verbeug

lunar
21.04.2009, 15:28
http://images.huffingtonpost.com/gen/75773/original.jpg ;)

lunar
21.04.2009, 15:31
LOBBYING WHILE TAKING GOVERNMENT AID (http://www.huffingtonpost.com/2009/04/21/gm-spent-28m-lobbying-gov_n_189392.html)

http://images.huffingtonpost.com/gen/75805/thumbs/r-GM-huge.jpg (http://www.huffingtonpost.com/2009/04/21/gm-spent-28m-lobbying-gov_n_189392.html)






Quick Read (http://www.huffingtonpost.com/2009/04/21/gm-spent-28m-lobbying-gov_n_189392.html) |
Comments (http://www.huffingtonpost.com/2009/04/21/gm-spent-28m-lobbying-gov_n_189392.html)
| Auto Bailout (http://www.huffingtonpost.com/news/auto-bailout)

NEW YORK — General Motors Corp. spent $2.8 million lobbying the U.S. government in the first three months of 2009, while the company was surviving on $13.4 billion in federal loans, according to a government filing.

The Detroit automaker said it spent the money lobbying a range of issues, including the economic stimulus package, environmental, consumer safety and health issues......


:rolleyes:mad

lunar
21.04.2009, 16:05
Why we forgot how to grow food....
Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1233604#post1233604)
http://www.stock-channel.net/stock-board/attachment.php3?attachmentid=90794&stc=1 ....kann ja noch werden ;):hihi

lunar
21.04.2009, 21:25
Geithner: "Vast Majority" of US Banks Have More Capital Than Needed (http://jessescrossroadscafe.blogspot.com/2009/04/vast-majority-of-us-banks-have-more.html)


http://3.bp.blogspot.com/_H2DePAZe2gA/Se3x0oBVSRI/AAAAAAAAI6s/iobkUugKPM4/s400/timmyfibber.jpg (http://3.bp.blogspot.com/_H2DePAZe2gA/Se3x0oBVSRI/AAAAAAAAI6s/iobkUugKPM4/s1600-h/timmyfibber.jpg)
This morning before Congress Treasury Secretary Turbo Tim, the Tax Cheat, said that the stress test results show that the 'vast majority' of US banks have more capital than they need.

Right. Most real banks, who do banking, have sufficient capital and have been well managed.

Its only the five or six largest money center banks that have trillions in bad debt and toxic derivatives that threaten to soak up all the available capital in the real economy.

Its the vast majority of banks who have been sound in their credit expansion and risk management who are paying the price through higher FDIC fees, along with the taxpayers, as Tim and Larry support the Wall Street oligarchs.

The action in the equity markets ahead of Tim's remarks was about as blatant as it gets. This is getting to be disgusting.

Market manipulation and rampant financial speculation with public funds will continue until we are confident that the economy has improved. When the electricity fails because of malinvestment in the real world economy, the Obama people can have public service community organizers deliver pamphlets door to door telling us how good things are becoming.


April 21 (Bloomberg) -- Treasury Secretary Timothy Geithner told a congressional panel that the “vast majority” of U.S. banks have more capital than needed.

He also said there are signs of thawing in credit markets and some indication that confidence is beginning to return.

“Indicators on interbank lending, corporate issuance and credit spreads generally suggest improvements in confidence in the stability of the system and some thawing in credit markets,” Geithner said in prepared testimony to the committee overseeing the Troubled Asset Relief Program.

Earlier today, Geithner said the program has enough money for bank rescues even under “conservative” estimates.

Geithner reiterated the Treasury’s view that about $135 billion is still available for bank rescues, out of $700 billion originally authorized by Congress.

The total includes about $590 billion that has been allocated so far for various TARP activities, leaving $110 billion remaining. Also, the Treasury expects $25 billion in repayments this year, leading to the total projection of $135 billion available.

“We believe that even under the conservative estimate of available funds described here, we have the resources to move forward implementing all aspects of our Financial Stability Plan,” Geithner said in a letter to Elizabeth Warren, the chair of the Congressional Oversight Panel.

May Have More

The Treasury first put forward these estimates in late March. In the letter, Geithner said it’s possible the Treasury may have even more money remaining, depending on how many banks repay TARP and whether the housing program uses its full allocation.

“Our projections anticipate only $25 billion will be repaid” over the next year, Geithner said. This figure is “lower than many private analysts expect,” he said.

Geithner’s letter comes on the same day as a separate report on the rescue program prepared by Neil Barofsky, the special inspector general for TARP. Barofsky said his office has six audits underway about various elements of the program.

One of these inquiries is looking into federal assistance to Bank of America, which has benefited from three different bank rescue programs, and Treasury’s decision to extend aid in connection with Bank of America’s acquisition of Merrill Lynch. The audit was expanded to include the other eight large banks that received TARP funding in October 2008, the report said.

The reporters on this story: Rebecca Christie in Washington

Posted by Jesse at 11:59 AM (http://jessescrossroadscafe.blogspot.com/2009/04/vast-majority-of-us-banks-have-more.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=1215877828387509457) :verbeug



21 April 2009

Break The Big Banks Up, and Let the Insolvent Parts Fail (http://jessescrossroadscafe.blogspot.com/2009/04/break-big-banks-up-and-let-insolvent.html)


This advice from Simon Johnson, Joe Stiglitz, and Thomas Hoenig can almost be characterized as common sense, apparent to almost any objective and informed observer.

So why is it not happening? It is not happening because it is not in the narrow interest of a few Wall Street Banks who are dominating the discussion in this country and in our Congress.

This is the kind of betrayal by an oligarchy that we saw in the USSR after their financial crisis and breakup.

With all the conflicts of interests and million dollar payments how can we not assume that the decision makers in the Obama administration have been bought, and that we are being betrayed?



Bloomberg (http://uk.reuters.com/article/companyNewsMolt/idUKTRE53K30320090421?sp=true)
Fed's Hoenig: Let insolvent financial firms fail
By Alister Bull
Tue Apr 21, 2009 4:31pm BST


WASHINGTON (Reuters) - Insolvent financial firms must be allowed to fail regardless of size, a top Federal Reserve official said on Tuesday, as two prominent economists urged Congress to break up the biggest U.S. banks.

In blunt criticism of the government Federal Reserve Bank of Kansas City President Thomas Hoenig told Congress' Joint Economic Committee that the design of a $700 billion bank bailout last year sowed uncertainty and slowed recovery.

Citing the costs of the economic crisis, Nobel economic laureate Joseph Stiglitz and former IMF chief economist Simon Johnson also told the panel that it was in the interest of taxpayers to dissolve the largest U.S. financial institutions.

"The United States currently faces economic turmoil related directly to a loss of confidence in our largest financial institutions because policymakers accepted the idea that some firms are just 'too big to fail.' I do not," Hoenig said.

"Yes, these institutions are systemically important, but we all know that in a market system, insolvent firms must be allowed to fail regardless of their size, market position or the complexity of operations," said Hoenig, who will be a voter on the Fed's policy-setting committee next year.

U.S. anti-trust rules should be used to break up the biggest banks to safeguard the economy, said Johnson, a professor at the Massachusetts Institute of Technology. He added the costs of the financial crisis already dwarf the damage done by industrial monopolies in the last century.

"The use of anti-trust (laws) to break up the largest banks will be essential," he said. "This is a very serious, imminent danger that needs to be addressed."

Stiglitz made a similar point, arguing that the American people had not received anything like sufficient benefits from allowing such large financial firms to grow, versus with the costs of the crisis.

"They should be broken up unless a compelling case can be made not to that," Stiglitz, a Columbia University professor, told the committee.

The biggest 19 U.S. banks are being subjected to a battery of so-called stress tests to restore confidence in their soundness, with guidelines on the process due on Friday and the results on May 4.

Stocks fell sharply on Monday amid fear that some of them still face massive losses, as the severe U.S. recession forces loan default rates to continue rising.

U.S. Treasury Secretary Timothy Geithner has signaled that no firms will 'fail' the stress tests, but Hoenig said this would be a mistake.

"Actions that strive to protect our largest institutions from failure risk prolonging the crisis and increasing its cost," Hoenig said.

"Of particular concern to me is the fact that the financial support provided to firms considered "too big to fail" provides them a competitive advantage over other firms and subsidizes their growth and profit with taxpayer funds," he said.

Nodding to anger among ordinary Americans over multi-billion dollar bailouts for rich bankers, Hoenig said some of these firms were simply too complicated, and too well-connected in Washington, for the good of the country.

"These "too big to fail" institutions are not only too big, they are too complex and too politically influential to supervise on a sustained basis without a clear set of rules constraining their actions. When the recession ends, old habits will reemerge," he said.

Hoenig also criticized the government's Troubled Asset Relief Program, or TARP, which was also separately chided on Tuesday by the Treasury's watchdog.

"In the rush to find stability, no clear process was used to allocate TARP funds among the largest firms. This created further uncertainty and is impeding recovery," Hoenig said.

Posted by Jesse at 1:56 PM (http://jessescrossroadscafe.blogspot.com/2009/04/break-big-banks-up-and-let-insolvent.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=3832610184151111299) :verbeug

lunar
21.04.2009, 22:25
Feingold Unloads On Peggy Noonan: "Never Heard Anything Quite As Disturbing" (http://www.huffingtonpost.com/2009/04/21/feingold-unloads-on-peggy_n_189473.html)

http://images.huffingtonpost.com/gen/75869/thumbs/s-RUSS-large.jpg (http://www.huffingtonpost.com/2009/04/21/feingold-unloads-on-peggy_n_189473.html)

Senator Russ Feingold, one of the harshest critics of the Bush administration's national security policies, says he cannot bring himself to support President Obama's apparent decision not to investigate or prosecute illegalities from those years.

"Part of what troubles me are the lawyers -- we should see their law school degrees -- who consciously wrote these memos justifying and explaining full well those outrageous arguments," the Wisconsin Democrat said on Tuesday in reference to the Bush-era torture memos released last week. "I cannot join the president, or his spokesman, or [chief of staff] Rahm Emanuel, who said we aren't going [to prosecute these people]. I can't. I just disagree with them."........




Quick Read (http://www.huffingtonpost.com/2009/04/21/feingold-unloads-on-peggy_n_189473.html) |
Comments (733) (http://www.huffingtonpost.com/2009/04/21/feingold-unloads-on-peggy_n_189473.html)

Hoka
22.04.2009, 01:51
20 April 2009

Our Modern Financial System: Hypocrisy on Parade (http://jessescrossroadscafe.blogspot.com/2009/04/our-modern-financial-system.html)


http://1.bp.blogspot.com/_H2DePAZe2gA/Se0v4wGaInI/AAAAAAAAI58/AxMJa-JQHOA/s400/usbanksnaked.jpg (http://1.bp.blogspot.com/_H2DePAZe2gA/Se0v4wGaInI/AAAAAAAAI58/AxMJa-JQHOA/s1600-h/usbanksnaked.jpg)





Posted by Jesse at 10:19 PM (http://jessescrossroadscafe.blogspot.com/2009/04/our-modern-financial-system.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=5649381958338641213) :verbeug

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1233607#post1233607)
Chemical BEN http://www.stock-channel.net/stockselect/stock-board/images/smilies/toodamnfuny.gif


Big bank profits are bogus! Massive public deception!

by Martin D. Weiss, Ph.D. (http://www.moneyandmarkets.com/topic/experts/martin-d-weiss-phd) 04-20-09


A big bank CEO on a mission to deceive the public doesn’t have to tell outright lies. He can con people just as easily by using “perfectly legal” tricks, shams, and accounting ruses.

First, I’ll give you the big-picture facts. Then, I’ll show you how big U.S. banks are painting lipstick on some of the fattest pigs ever raised.

...


The primary difference is that the regulators have an agenda: Instead of protecting the people from bank failures, they’re trying harder than ever to protect failed banks from the people.

...
It’s the ultimate double standard: The banks get away with inflating their toxic assets. But at the same time, they’re allowed to mark to market their own debts, which happen to be trading at huge discounts on the open market precisely because of their toxic assets.

Accountants call it a “credit value adjustment.” I call it cheating.

...

http://www.moneyandmarkets.com/big-bank-profits-are-bogus-massive-public-deception-33228

lunar
22.04.2009, 08:50
Das ultraschnelle Comeback des Eliot Spitzer (http://www.tagesanzeiger.ch/ausland/amerika/Das-ultraschnelle-Comeback-des-Eliot-Spitzer/story/30940811)

Eine Sexaffäre setzte der Karriere des ehrgeizigen Gouverneurs ein Ende. Nun ist der Amerikaner zurück im Rampenlicht – viel schneller als erwartet. Mehr... (http://www.tagesanzeiger.ch/ausland/amerika/Das-ultraschnelle-Comeback-des-Eliot-Spitzer/story/30940811)

Von Walter Niederberger, San Francisco. 1 Kommentar (http://www.tagesanzeiger.ch/ausland/amerika/Das-ultraschnelle-Comeback-des-Eliot-Spitzer/story/30940811#kommentar)


.....das würde aber einigen Wallstreetern gar nicht schmecken :o

lunar
22.04.2009, 08:55
Chemical BEN http://www.stock-channel.net/stockselect/stock-board/images/smilies/toodamnfuny.gif

Big bank profits are bogus! Massive public deception!

Zum Original-Beitrag (http://www.stock-channel.net/stock-board/showthread.php3?p=1233732#post1233732)
http://images.moneyandmarkets.com/1330/banks-overexposed.jpg :rolleyes

....und GS wie immer vorne dabei - was wäre ohne das Netz :reiter

lunar
22.04.2009, 09:41
April 21, 2009

Citigroup shareholders vent anger at AGM

The troubled bank's shareholders grudgingly elected four new board members but excoriate its board and executives

Christine Seib in New York

Citigroup’s shareholders grudgingly elected four new board members but used today’s general meeting to excoriate the troubled bank’s board and executives.

Investors, infuriated by five consecutive quarters of losses, demanded more new directors and criticised issues ranging from executive compensation to the bank’s decision to sponsor a new baseball field in New York.

The new board members - veteran bankers Jerry Grundhofer, Michael O’Neill, Anthony Santomero and prominent fund manager William Thompson Jr – were elected with at least 70 per cent of the vote.....

....Mr Parsons’ move to thank Citigroup’s five departing board members, including former Treasury Secretary Robert Rubin :rolleyes, was derided by shareholders.....

full story: http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6143718.ece


....Several investors said Citigroup's difficulties had cost them more than $1m from their savings and pension funds. Protesting at the re-election of directors, one critic compared the board to the presidium of the Communist party in the former Soviet Union, while another said: "This election today is very similar to one they just had in Cuba which re-elected Raul Castro."......
http://www.guardian.co.uk/business/2009/apr/22/citigroup-investors-meeting

:reiter

lunar
22.04.2009, 10:41
Ansel Easton Adams (* 20. Februar (http://de.wikipedia.org/wiki/20._Februar) 1902 (http://de.wikipedia.org/wiki/1902) in San Francisco (http://de.wikipedia.org/wiki/San_Francisco), Kalifornien (http://de.wikipedia.org/wiki/Kalifornien); † 22. April (http://de.wikipedia.org/wiki/22._April) 1984 (http://de.wikipedia.org/wiki/1984) in Carmel-by-the-Sea (http://de.wikipedia.org/wiki/Carmel-by-the-Sea), Kalifornien)

http://www.afterimagegallery.com/adamslargemoonrise.jpg ein eindrückliches Bild

http://upload.wikimedia.org/wikipedia/commons/thumb/2/21/Adams_The_Tetons_and_the_Snake_River.jpg/749px-Adams_The_Tetons_and_the_Snake_River.jpg

Eine frühe Kindheitserinnerung von Ansel Adams war das große Erdbeben von 1906.

http://upload.wikimedia.org/wikipedia/commons/thumb/e/e5/Sanfranciscoearthquake1906.jpg/775px-Sanfranciscoearthquake1906.jpg :(

Weblinks [Bearbeiten (http://de.wikipedia.org/w/index.php?title=Ansel_Adams&action=edit&section=43)]

http://upload.wikimedia.org/wikipedia/commons/thumb/4/4a/Commons-logo.svg/12px-Commons-logo.svg.png Commons: Ansel Adams (http://commons.wikimedia.org/wiki/Ansel_Adams?uselang=de) – Bilder, Videos und Audiodateien
http://upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/14px-Wikiquote-logo.svg.png Wikiquote: Ansel Adams (http://de.wikiquote.org/wiki/Ansel_Adams) – Zitate






Ansel Adams (http://www.artnet.de/artist/656266/ansel-adams.html) bei artnet.de
Ansel Adams (http://www.artfacts.net/index.php/pageType/artistInfo/artist/9830/lang/2) bei artfacts.net
Informationen zu Ansel Adams (http://www.bam-portal.de/searchExpert.do?action=search&query=Ansel+Adams) im BAM-Portal (http://de.wikipedia.org/wiki/BAM-Portal)
Informationen der Internet Movie Database (http://de.wikipedia.org/wiki/Internet_Movie_Database) zu Ansel Adams (englisch) (http://www.imdb.com/name/nm1168720/) oder (deutsch) (http://www.imdb.de/name/nm1168720/)
Ansel Adams (http://de.photography-now.com/artists/K05981.html) bei photography-now.com


Literatur von und über Ansel Adams (http://d-nb.info/gnd/11881303X) im Katalog der Deutschen Nationalbibliothek (http://de.wikipedia.org/wiki/Deutsche_Nationalbibliothek) (Datensatz zu Ansel Adams (http://dispatch.opac.d-nb.de/DB=4.1/PPN?PPN=11881303X) • PICA-Datensatz (http://dispatch.opac.d-nb.de/DB=4.1/SET=4/TTL=1/PRS=PP%7F/PPN?PPN=11881303X) • Einträge im Musikarchiv (http://dispatch.opac.d-nb.de/DB=2.1/REL?PPN=11881303X))
Ansel Adams (http://topics.nytimes.com/top/reference/timestopics/people/a/ansel_adams/index.html?inline=nyt-per) In: Times Topics der New York Times (http://de.wikipedia.org/wiki/The_New_York_Times) (englisch)
The Ansel Adams Gallery (http://www.anseladams.com/) (englisch)
Ansel Adams & The Sierra Club (http://www.sierraclub.org/ansel_adams/) (englisch)
American Experience – Ansel Adams: A Documentary Film (http://www.pbs.org/wgbh/amex/ansel/index.html) (englisch)
Ansel Adams at 100 Exhibition Feature (http://www.sfmoma.org/adams/) im SFMOMA (http://de.wikipedia.org/wiki/San_Francisco_Museum_of_Modern_Art) (englisch)

lunar
22.04.2009, 10:58
http://www.thefinancialtube.com/video/3048/The-Truth-on-the-Bank-Profits

Richard Bove, of Rochdale Securities; Martin Weiss, of Weiss Research; and CNBC\'s Larry Kudlow discuss the truth about bank profits and the financial sector as a whole.

....entgegengesetzter könnte es nicht sein :rolleyes

lunar
22.04.2009, 11:49
http://media.timesfreepress.com/img/photos/2009/04/21/090422_earth_day.jpg :rolleyes:(

Earth Day und Earth Week: Weltweite Aktionen zum Schutz unserer Umwelt (http://www.earthday.de/)

Global denken, lokal handeln - der Earth Day findet alljährlich am 22. April weltweit in über 150 Ländern statt.

lunar
22.04.2009, 15:21
41 Jahre jung :rolleyes:(



DemReadingDU http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/DemReadingDU) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=160840) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=160840) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=160840) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=160840&level=three) Wed Apr-22-09 08:29 AM
Response to Reply #24 (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3843315#3843437) 26. more from AP http://upload.democraticunderground.com/discuss/images/avatars/book.gif
Reports: Freddie Mac official found dead

WASHINGTON (AP) — David Kellermann, the acting chief financial officer of mortgage giant Freddie Mac, was found dead at his home Wednesday in what broadcast reports said was an apparent suicide.

WUSA-TV and WTOP Radio reported that David Kellermann was found dead in his Northern Virginia home. The 41-year-old Kellermann has been Freddie Mac's chief financial officer since September.

Sabrina Ruck, a Fairfax County police spokesman, confirmed to The Associated Press that Kellermann was dead, but she could not confirm that he committed suicide.

McLean-based Freddie Mac has been criticized heavily for reckless business practices that some argue contributed to the housing and financial crisis. Freddic Mac is a government-controlled company that owns or guarantees about 13 million home loans. CEO David Moffett resigned last month.

Freddie Mac and sibling company Fannie Mae, which together own or back more than half of the home mortgages in the country, have been hobbled by skyrocketing loan defaults and have received about $60 billion in combined federal aid.

Kellermann was named acting chief financial officer in September 2008, after the resignation of Anthony "Buddy" Piszel, who stepped down after the September 2008 government takeover. The chief financial officer is responsible for the company's financial controls, financial reporting and oversight of the company's budget and financial planning.

Before taking that job, Kellerman served as senior vice president, corporate controller and principal accounting officer. He was with Freddie Mac for more than 16 years.
http://www.google.com/hostednews/ap/article/ALeqM5i0670... (http://www.google.com/hostednews/ap/article/ALeqM5i0670afSPpeLEmH2SgLHC51kmGJQD97NGKTO1)



Demeter http://www.democraticunderground.com/discuss/images/donor.gif (1000+ posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/Demeter) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=131994) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=131994) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=131994) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=131994&level=three) Wed Apr-22-09 08:29 AM

Response to Reply #24 (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3843315#3843437) 27. Ozy, It Might Be Useful to Run a Financier Suicide Count in the Header http://www.democraticunderground.com/discuss/images/transparent.gif There's been a significant number of officially confirmed ones already already.


willing dwarf http://www.democraticunderground.com/discuss/images/donor.gif (779 posts) http://www.democraticunderground.com/discuss/images/mesg_journal.gif (http://journals.democraticunderground.com/willing%20dwarf) http://www.democraticunderground.com/discuss/images/mesg.gif (http://www.democraticunderground.com/discuss/duboard.php?az=send_mesg&u_id=174851) http://www.democraticunderground.com/discuss/images/profile_small.gif (http://www.democraticunderground.com/discuss/duboard.php?az=user_profiles&u_id=174851) http://www.democraticunderground.com/discuss/images/mesg_add_buddy.gif (http://www.democraticunderground.com/discuss/duboard.php?az=add_buddy&u_id=174851) http://www.democraticunderground.com/discuss/images/mesg_add_ignore.gif (http://www.democraticunderground.com/discuss/duboard.php?az=ignore_member&iid=174851&level=three) Wed Apr-22-09 09:01 AM
Response to Reply #27 (http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x3843315#3843449) 33. Ooh that's grim but applicable! http://upload.democraticunderground.com/discuss/images/avatars/fishing.gif

lunar
22.04.2009, 15:32
Freddie Mac Chief Financial Officer Found Dead In Apparent Suicide (http://www.huffingtonpost.com/2009/04/22/freddie-mac-suicide-offic_n_189911.html)





Quick Read (http://www.huffingtonpost.com/2009/04/22/freddie-mac-suicide-offic_n_189911.html) |
Comments (68) (http://www.huffingtonpost.com/2009/04/22/freddie-mac-suicide-offic_n_189911.html)
.....einer der vielen Kommentare:
corsair1917 See Profile (http://www.huffingtonpost.com/users/profile/corsair1917) I'm a Fan of corsair1917 (http://www.huffingtonpost.com/users/becomeFan.php?of=corsair1917) I'm a fan of this user permalink (http://www.huffingtonpost.com/2009/04/22/freddie-mac-suicide-offic_n_189911.html?show_comment_id=23373829#comment_23373829) this is another example of this terrible economic mess we are in. Yet another person has taken their own life.... haven't there been now 4 or 5 people who have done this now. A few from the Madoff mess. This is not the answer. Money is simply money. I know that it has so devastating to so many people but ending one's life over it is not worth it. We don't know what drove him to do it. I feel incredibly sorry for his family because they will now be forever without him.

lunar
22.04.2009, 15:44
Bonuses To New York Times Execs Under Fire (http://www.huffingtonpost.com/2009/04/22/bonuses-to-new-york-times_n_189909.html)

04/22/09 09:02 AM

At a time when New York Times managers are forcing all employees to take a five percent pay cut, and demanding even larger sacrifices from the NYT-owned Boston Globe, top executives of the beleaguered newspaper received substantial bonus and fringe benefit payments over and above their salaries, according to a proxy statement (http://www.nytco.com/pdf/2009_Proxy_Statement.pdf) released on March 11.

These bonuses and benefits to top Times company executives have provoked growing resentment among Times staffers, and frank anger from Globe reporters who have been warned by Times executives that their paper will be folded if they do not come up with $20 million in pay cuts and layoffs.

According to the New York Times proxy statement filed with the Securities and Exchange Commission, corporate president and CEO Janet L. Robinson received a total compensation package valued at $5.58 million in 2008, up well over a million from the $4.14 million she received in 2007, and the $4.4 million she received in 2006....

http://www.huffingtonpost.com/2009/04/22/bonuses-to-new-york-times_n_189909.html

......die Unverschämtheit kennt keine Grenzen :mad:bad

lunar
22.04.2009, 16:13
Report: Iraqi Militia Killing Gay Men with Painful Anal Glue Torture

The International Gay and Lesbian Human Rights Commission writes (http://www.iglhrc.org/cgi-bin/iowa/home/index.html): "The following is a translation of a story from Alarabiya (http://www.alarabiya.net/save_print.php?print=1&cont_id=71071), a UAE-based media network, which was published on its Arabic website a few hours ago. While IGLHRC has not verified all of the allegations, many are consistent with patterns of human rights violations being reported from within the country."

The translation:

"A prominent Iraqi human rights activist says that Iraqi militia have deployed a painful form of torture against homosexuals by closing their anuses using 'Iranian gum.' ... Yina Mohammad told Alarabiya.net that, 'Iraqi militias have deployed an unprecedented form of torture against homosexuals by using a very strong glue that will close their anus.' According to her, the new substance 'is known as the American hum, which is an Iranian-manufactured glue that if applied to the skin, sticks to it and can only be removed by surgery. After they glue the anuses of homosexuals, they give them a drink that causes diarrhea. Since the anus is closed, the diarrhea causes death. Videos of this form of torture are being distributed on mobile cellphones in Iraq.' According to this human rights activist, for the past 3 weeks a crackdown on homosexuals has been going on based on a religious decree that demands their death; dozens have been targeted. She says that the persecution of homosexuals is not confined to the Shiite clerics. Some Sunni leaders have also declared the death penalty for sodomy on satellite channels."

Earlier today I posted disturbing BBC video of a young Iraqi man being forced to strip at a police stop (http://www.towleroad.com/2009/04/fliers-videos-reveal-ongoing-death-campaign-against-iraqi-gays.html) for wearing women's clothes, as well as reports of fliers being posted around Baghdad's Sadr City (above) threatening death to homosexuals.

I've reposted the BBC report, AFTER THE JUMP (http://www.towleroad.com/2009/04/report-iraqi-militia-killing-gay-men-with-painful-form-of-anal-torture.html)...

http://www.towleroad.com/2009/04/report-iraqi-militia-killing-gay-men-with-painful-form-of-anal-torture.html

...in was für einer Welt leben wir :gomad

lunar
22.04.2009, 19:21
Goldman Sachs Shook Tens of Billions Out of Tax-Payers -- Now They're Whining All the Way to the Bank

By Dean Baker (http://www.alternet.org/authors/4755/), AlterNet (http://www.alternet.org/). Posted April 21, 2009 (http://www.alternet.org/ts/archives/?date%5BF%5D=04&date%5BY%5D=2009&date%5Bd%5D=21&act=Go/).

The Wall Street crew relied on its political power to ensure that the rules remained rigged, even though their crooked deck wrecked the economy.

Lloyd Blankfein, the CEO of Goldman Sachs, is very upset with the Troubled Asset Relief Program (TARP). Last fall, Mr. Blankfein borrowed $10 billion through the TARP at below market interest rates. Now, the government is starting to tie some real conditions to this money, for example, by limiting what Goldman can pay its executives. Mr. Blankfein argues that such conditions are making it impossible to run his business and is now anxious to return the TARP money.

It is great to see that Goldman is finally prepared to go forward into the market without its government training wheels of TARP aid, but, unfortunately, Mr. Blankfein isn't yet confident enough in his business acumen to actually forego government assistance. Goldman Sachs has benefited and continues to benefit enormously from other forms of government aid.

For example, last fall Mr. Blankfein also took advantage of the opportunity to borrow $25 billion with an FDIC guarantee to his creditors. If this government guarantee reduced his borrowing costs by two percentage points, then it means that the taxpayers handed Goldman $500 million a year in lower interest costs.

Goldman Sachs also has the opportunity to borrow at several of the Federal Reserve Board's special lending facilities at below market interest rates. We don't know how much taxpayers have given Mr. Blankfein through this channel because the Fed won't tell us. Fed Chairman Ben Bernanke's position is that when the Fed gives out money, the taxpayers just get to write the checks; taxpayers don't get to know where they went.

Mr. Blankfein also got a big wad of taxpayer money from the A.I.G. bailout. It was the biggest single beneficiary of the government's largess, pocketing more than $12 billion. If matters had been left to the market and A.I.G. had gone under, Goldman Sachs likely would have gotten almost none of the money that A.I.G. owed it.

In short, Mr. Blankfein is not at all prepared to go out on his own in the rough and tumble of the market; he just doesn't like government programs that come with conditions, like the TARP. He would much rather get his government money with no strings attached. And, since there are channels through which Goldman can get government money without any strings, it is perfectly understandable that Mr. Blankfein would opt out of a program with strings.

In this sense, Mr. Blankfein's attitude might be comparable to a mother receiving Temporary Assistance for Needy Families (TANF). To receive their benefits of roughly $500 per month, mothers must meet a variety of work and other requirements and endure lectures on the virtues of being married.

Undoubtedly, many mothers find these TANF requirements to be quite annoying. However, unlike Mr. Blankfein, most of the mothers receiving TANF do not have friends in high prices in the administration and Congress. As a result, the mothers receiving TANF will just have to live with the conditions the government imposes on their behavior.

Mr. Blankfein's whining is reminiscent of the resignation letter of Jack DeSantis, an A.I.G. executive who resigned in response to the public outcry over the huge A.I.G. bonuses. In this letter, which was reprinted in The New York Times (http://www.nytimes.com/2009/03/25/opinion/25desantis.html), Mr. DeSantis complained that he worked 60- to 70-hour weeks to help in the unwinding of A.I.G. Of course, unlike the vast majority of people who put in long weeks, who earn less than $100,000 a year, Mr. DeSantis felt entitled to a salary of close to $1 million a year.

Furthermore, Mr. DeSantis apparently had a poor understanding of contract law. As a bankrupt company, A.I.G. could not make binding commitments for future payments -- it didn't have the money. At the insistence of the government, hundreds of thousands of autoworkers are now faced with the loss of the retiree health benefits for which they worked decades. Mr. DeSantis thinks that he is deserving of sympathy because the public is angry over his $750,000 bonus.

The basic story is straightforward. The Wall Street crew thinks that they are entitled to pilfer as much as they want from the public and from the government. These people have no interest in a "free market"; they would be scared to death of being forced to work for a living in the absence of a government safety net.

The Wall Street crew has relied on its political power to rig the rules to make them incredibly wealthy. They are relying on this political power to ensure that the rules remained rigged, even though their crooked deck wrecked the economy, costing tens of millions of people their jobs, their homes and their life savings. So far, it looks like the Wall Street boys are winning. :bad

http://www.alternet.org/workplace/137561/goldman_sachs_shook_tens_of_billions_out_of_tax-payers_--_now_they%27re_whining_all_the_way_to_the_bank_/

lunar
22.04.2009, 21:34
22. April 2009, 21:24, NZZ Online

Weltwirtschaft schrumpft wie seit 1930er-Jahren nicht mehr

IMF sieht Aufschwung im Jahr 2010


Der World Economic Outlook des Internationalen Währungsfonds (IMF) zeichnet ein tristes Bild; die Weltwirtschaft steckt in der schwersten Rezession seit dem Zweiten Weltkrieg. Einige Länder werden 2009 ihre Wirtschaftsleistung um 10% oder mehr schrumpfen sehen.

wm. Washington, 22. April

In der Regel veröffentlicht der Währungsfonds seinen Weltwirtschafts-Ausblick jeweils einige Tage vor der Frühjahrs- sowie der im Herbst stattfindenden Jahrestagung von IMF und Weltbank. In letzter Zeit hat er jedoch die Wachstumsprognosen für die Weltwirtschaft in deutlich schnellerem Rhythmus revidieren müssen. Die Wachstumsschätzungen im letzten ordentlichen World Economic Outlook vom Oktober wurden im November, im Januar und nochmals Mitte März überarbeitet, und zwar immer nach unten. Hatte man im Oktober für die Weltwirtschaft im Jahr 2009 noch ein reales Wachstum von 3,0% vorausgesagt, lautet jetzt die Prognose auf –1,3% (vgl. Tabelle). Damit befindet sie sich laut IMF in einer schweren Rezession; falls die prognostizierten Werte zutreffen, ist es gar die schwerste seit dem Zweiten Weltkrieg.....

ganzer Artikel: http://www.nzz.ch/finanzen/nachrichten/weltwirtschaft_schrumpft_wie_seit_den_1930er-jahren_nicht_1.2446373.html

lunar
23.04.2009, 09:09
Wed 22 Apr 2009

Shadow Banking, Now With 100% More Ninjas (http://lolfed.com/2009/04/22/shadow-banking-now-with-100-more-ninjas/)

Posted by alyx under bailout (http://lolfed.com/category/bailout/)
[3] Comments (http://lolfed.com/2009/04/22/shadow-banking-now-with-100-more-ninjas/#comments)

Shadow banking (http://vimeo.com/4137538) from Marketplace (http://vimeo.com/marketplace) on Vimeo (http://vimeo.com/).

I have run a couple of videos from Marketplace’s whiteboard series (http://marketplace.publicradio.org/videos/whiteboard/shadow_banking.shtml) before, because they’re pretty solid, even if they do generally paint government action in much rosier terms than we usually do around here. The most recent installment is on ’shadow banking’ and the TALF, not that anyone is really using the TALF right now, but it IS there and all.

Which reminds me, FRB’s William Dudley really wishes (http://www.bloomberg.com/apps/news?pid=20601087&sid=avyRsGgUAXEU&refer=home) people would stop referring to the TALF as a “scarlet letter” like the TARP, “laffy TALFy (http://lolfed.com/2009/03/03/laffy-talfy/)“, etc:
(http://www.bloomberg.com/apps/news?pid=20601087&sid=avyRsGgUAXEU&refer=home)

Investors have been reluctant to join some of the programs since lawmakers criticized the compensation practices of financial companies that accepted taxpayer funds to shore up capital, Dudley said in the text of remarks prepared for a conference at Vanderbilt University in Nashville, Tennessee.

“My own view is that these fears are misplaced,” Dudley said. “The lending to investors on the front end is completely a Federal Reserve program and operation,” Dudley said, referring to the TALF. Government funds would only be used to protect the Fed against a credit risk such as a default.

(Take my TALF… please?)

Also, it’s fun to follow his reasoning. See, America? FED money isn’t TAXPAYER money! It’s magically printed money from a land of rainbows and unicorns, so TALF borrowers would be able to hold their heads high and their bonuses large. No TARP-wifery (http://www.portfolio.com/executives/2009/04/21/Confessions-of-a-Bailout-CEO-Wife?page=1#page=1) for their CEOs. Dudley stopped short of stating “I ain’t no Timmay,” though we wish he had gone there.




.....Video - man lernt nie aus ;)

lunar
23.04.2009, 09:30
Satellitenfotos offenbaren Flüchtlingsdrama auf Sri Lanka (http://www.tagesanzeiger.ch/ausland/asien-und-ozeanien/Satellitenfotos-offenbaren-Fluechtlingsdrama-auf-Sri-Lanka/story/17783698)


Auf einem schmalen Küstenstreifen in Sri Lanka spielt sich ein Flüchtlingsdrama ab. Zehntausende von Flüchtlinge sind auf engstem Raum eingepfercht. Das zeigen neue Satellitenbilder. Mehr... (http://www.tagesanzeiger.ch/ausland/asien-und-ozeanien/Satellitenfotos-offenbaren-Fluechtlingsdrama-auf-Sri-Lanka/story/17783698)


--->11 Kommentare (http://www.tagesanzeiger.ch/ausland/asien-und-ozeanien/Satellitenfotos-offenbaren-Fluechtlingsdrama-auf-Sri-Lanka/story/17783698#kommentar)

lunar
23.04.2009, 09:36
US-Foltermethoden hatten System

(SDA) Washington. – Der US-Senat hat in einem umfangreichen Bericht die Verhörmethoden aufgezeigt, die in der Ära des früheren Präsidenten George W. Bush gegen mutmassliche Terroristen angewandt wurden. Darin wird erstmals eine Verbindung gezogen zwischen der Fixierung der Regierung Bush auf Saddam und der Autorisierung von Foltermethoden bei den Verhören von Terrorverdächtigen. In dem Bericht heisst es, Verhörer in Guantánamo seien angewiesen worden, Beweise für eine Verbindung von Saddam zur al-Qaida aus den Häftlingen herauszupressen.

Der Senatsbericht widerspricht der früheren Behauptung, die Misshandlung von Gefangenen sei nur das Werk einzelner Mitarbeiter der Sicherheitskräfte gewesen, die ihre Vollmachten überschritten hätten. Vielmehr wird darauf hingewiesen, dass etwa der frühere Verteidigungsminister Donald Rumsfeld persönlich dafür verantwortlich zu machen sei.

Die nach den Anschlägen vom 11. September 2001 eingeführten brutalen Verhörmethoden sind vereinzelt bereits juristisch aufgearbeitet worden.

Kommentar 5 (http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/23/005/). Spalte, Bericht Seite 5 (http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/23/005/)





Sie liessen foltern, um den Krieg gegen Saddam rechtfertigen zu können

Von Martin Kilian, Washington Die Regierung Bush wollte unbedingt Saddam und al-Qaida verknüpfen. Laut einem neuen Kongressbericht wurde auch deshalb gefoltert.

...

http://epaper3.tagesanzeiger.ch/ee/taz/ges/2009/04/23/005/

Dreckspack :bad

KOMMENTAR

Irak-Krieg holt Obama ein

Von Christof Münger Seit Tagen wissen wir, wen amerikanische Beamte wie und wann gefoltert haben. Nun wissen wir auch, weshalb. Das verschärft den Skandal noch: Spätestens ab Mitte 2002 wollten die US-Behörden aus ihren Gefangenen den Beweis herauspressen, dass Osama Bin Laden und Saddam Hussein unter einer Decke steckten. Der Angriff auf den Irak war zu diesem Zeitpunkt beschlossene Sache. Das Geständnis eines Al-Qaida-Terroristen, dass diese Verbindung besteht, sollte der Regierung George W. Bush schwarz auf weiss den ersehnten Kriegsgrund liefern.

Doch ein solches Geständnis wurde nie publik: Offensichtlich erzählten die Häftlinge unter Folter alles, nur nicht, dass Saddam und Osama gute Freunde seien. Kein Wunder, denn der säkulare Gewaltherrscher von Bagdad arbeitete nicht mit einem islamistischen Terrorchef zusammen. Noch weniger wollte er al-Qaida Massenvernichtungswaffen liefern: Für Alleinherrscher Saddam war das zu riskant.

Trotzdem liessen Bush und sein Vize Dick Cheney keine Gelegenheit aus, auf angeblich starke Indizien einer Kooperation zwischen Bagdad und al-Qaida hinzuweisen. Noch penetranter warnten sie fortan vor irakischen Massenvernichtungswaffen – was sich ebenso als Hirngespinst entpuppte wie die Verbindung zwischen dem Irak und al-Qaida. Die Folgen spüren die USA bis heute, die amerikanische Glaubwürdigkeit bleibt angeschlagen: Die jüngste Enthüllung, wonach für die Konstruktion eines Kriegsgrunds Gefangene gefoltert wurden, macht es noch viel schwieriger, das Vertrauen in die USA wiederherzustellen.

Wahl und Amtsantritt von USPräsident Barack Obama können diese Fehler nicht ausmerzen. Wegen der globalen Wirtschaftskrise ist verständlich, dass Bushs Nachfolger nicht zurückblicken, sondern die Zukunft anpacken möchte. Doch mit Nationen ist es wie mit Menschen: Die Verdrängung ungelöster Probleme rächt sich. Will Obama vermeiden, dass der Schmutz der Bush-Jahre an ihm haften bleibt, genügt es nicht, dass die Justiz oder eine Kongresskommission den Folterskandal aufarbeitet. Obama muss auch das gesamte für den Irak-Krieg errichtete Lügengebäude durchleuchten. Erst dann kann er es einreissen.

lunar
23.04.2009, 10:01
http://www.stock-channel.net/stock-board/attachment.php3?attachmentid=90827&stc=1

Assessing market research, with Charles Nenner, professor of Touro College; Daniel Wiener, of Adviser Investments; and CNBC's Bob Pisani.

:supi

http://www.cnbc.com/id/15840232?video=1100556126&play=1

lunar
23.04.2009, 15:04
Lewis testified that U.S. urged silence on Merrill deal: report

Thu Apr 23, 2009 8:40am EDT

NEW YORK (Reuters) - Bank of America Corp CEO Kenneth Lewis testified under oath that Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary Henry Paulson pressured him to keep quiet about losses at Merrill Lynch & Co, which the bank was buying, the Wall Street Journal reported.

Testifying before New York Attorney General Andrew Cuomo in February, Lewis said "it wasn't up to me" to reveal Merrill's fourth-quarter losses as they were becoming apparent in December, the newspaper said, citing a deposition transcript.

Shareholders of Merrill and Bank of America voted to approve the merger on December 5, and the transaction closed on January 1. Bank of America subsequently reported that Merrill lost $15.84 billion in the fourth quarter.

At Bank of America's April 29 annual meeting, shareholders will vote on whether to force Lewis to step down as chairman of the largest U.S. bank or leave its board, because of Merrill and a falling share price.

Many critics also want Lewis to give up the chief executive job, which he has held since 2001.

The Journal said Lewis testified that Bernanke and Paulson told him the merger needed to go through and that any failure would "impose a big risk to the financial system" of the United States.

Cuomo's office is expected to release the deposition transcript to federal regulators and overseers of bank bailout money today, the newspaper said....

full story: http://www.reuters.com/article/newsOne/idUSTRE53M14820090423

Pack :bad

lunar
23.04.2009, 16:21
SUSPECTED AL QAEDA IN IRAQ LEADER ARRESTED (http://www.huffingtonpost.com/2009/04/23/baghdad-suicide-bomber-ki_0_n_190455.html)


Raid Hailed As Most Serious Blow To Insurgents In 3 Years ... Multiple Bomb Explosions After Arrest ... As Many As 40 Killed (http://www.guardian.co.uk/world/2009/apr/23/omar-baghdadi-arrest-alqaida-iraq)






Quick Read (http://www.huffingtonpost.com/2009/04/23/baghdad-suicide-bomber-ki_0_n_190455.html) |
Comments (http://www.huffingtonpost.com/2009/04/23/baghdad-suicide-bomber-ki_0_n_190455.html)
| War Wire (http://www.huffingtonpost.com/news/warwire)

lunar
23.04.2009, 17:36
Posted: Apr 23 2009 By: Jim Sinclair Post Edited: April 23, 2009 at 1:20 am
Filed under: In The News (http://174.133.72.211/category/in-the-news/)

Dear CIGAs,

The following cartoon is from the 1934 Chicago Tribune. Sound familiar?

http://174.133.72.211/wp-content/uploads/2009/04/1934tribune-243x300.jpg (http://174.133.72.211/wp-content/uploads/2009/04/1934tribune.jpg)


(http://javascript%3Cb%3E%3C/b%3E:void%280%29)

lunar
23.04.2009, 20:36
Thu 23 Apr 2009

Ken Lewis: Benny Made Me Do It (http://lolfed.com/2009/04/23/ken-lewis-benny-made-me-do-it/)

Posted by alyx under all ur bankz (http://lolfed.com/category/all-ur-bankz/) , bernanke (http://lolfed.com/category/bernanke/) , hank paulson (http://lolfed.com/category/hank-paulson/)

(http://lolfed.com/2009/04/23/ken-lewis-benny-made-me-do-it/#respond)
http://lolfed.com/wp-content/uploads/bernanke-not-telling.jpg

Ken Lewis, when asked by NY’s attorney general Andrew Cuomo why he didn’t disclose many important details about Bank of America’s faildeal to buy Merrill to shareholders until the damage had been done, places the blame firmly on Bernanke and Paulson (http://online.wsj.com/article/SB124045610029046349.html):Federal Reserve Chairman Ben Bernanke and then-Treasury Department chief Henry Paulson pressured Bank of America Corp. to not discuss its increasingly troubled plan to buy Merrill Lynch & Co. — a deal that later triggered a government bailout of BofA — according to testimony by Kenneth Lewis, the bank’s chief executive.

Mr. Lewis, testifying under oath before New York’s attorney general in February, told prosecutors that he believed Messrs. Paulson and Bernanke were instructing him to keep silent about deepening financial difficulties at Merrill, the struggling brokerage giant. As part of his testimony, a transcript of which was reviewed by The Wall Street Journal, Mr. Lewis said the government wanted him to keep quiet while the two sides negotiated government funding to help BofA absorb Merrill and its huge losses.

Screw your duty to the shareholders! Your duty is to the state, which doesn’t believe we need any transparency in this-here system. Shareholders approved the deal without the info regarding the fail, and not only would they probably not have done so given the details, it would’ve have been an OMG EVEYBODY PANIC moment. The omerta surrounding this deal was long-rumored, and now Ken Lewis wants us to believe that is the truth:“Isn’t that something that any shareholder at Bank of America…would want to know?” Mr. Lewis was asked by a representative of New York’s attorney general, Andrew Cuomo, according to the transcript.

“It wasn’t up to me,” Mr. Lewis said. The BofA chief said he was told by Messrs. Bernanke and Paulson that the deal needed to be completed, otherwise it would “impose a big risk to the financial system” of the U.S. as a whole.

Lewis also claims Paulson threatened to remove him and the entire board if they balked on the deal; the Fed has declined to give Cuomo all the information he’s looking for, citing regulatory privilege. When Bernanke (and Paulson) play the STFU or GTFO card, they play it but good.

It’s worth noting that Ken Lewis has tried to throw everyone under the bus but Ken Lewis for this deal, though. Prior to this, he blamed John Thain effusively.

ETA - and here is Cuomo’s official letter on the subject, including information on Benny’s citation of privilege. Hat tip to Zero Hedge (http://zerohedge.blogspot.com/2009/04/cuomo-letter-exposing-paulsons-and.html):

Cuomo Letter (http://www.scribd.com/doc/14566221/Cuomo-Letter)

:rolleyes ....scheint ja ein Schlammassel zu sein :rolleyes

für Brief link anklicken :cool

lunar
23.04.2009, 22:40
....kleine Erfrischung nach all diesem Schrott :cool http://image.linkinn.com/toppic/photo_0801/Lady_of_the_Lake.jpg

lunar
24.04.2009, 14:45
Freier Amanita-Newsletter: Ökonomischer Boom voraus! 23.4.09
Sehr geehrte Abonnentin, sehr geehrter Abonnent!

Ökonomischer Super-Boom voraus!
Je weniger eine Prognose zu den Märkten geglaubt wird, desto besser sind die Chancen, daß sie wahr wird... Und in Zeiten voll der Weltuntergangshysterie wie die letzten Monate ist meine hier und heute vorgetragene Prognose eines kommenden gewaltigen ökonomischen Booms sicher höchst ungewöhnlich, um es vorsichtig auszudrücken. In diesem Artikel möchte ich Ihnen die astrologischen, zyklischen und fundamentalen Gründe für diese kühne Auffassung näherbringen und präzisieren.


http://www.amanita.at/pictures/file_1240421746-e95 ...d12b94.pdf (http://www.amanita.at/pictures/file_1240421746-e950898ce3d78ccb20283afee4d12b94.pdf)

....zumindest anders als die andern :rolleyes :gruebel :confused :schwitz

lunar
24.04.2009, 16:50
24 April 2009

Stormy Weather (http://jessescrossroadscafe.blogspot.com/2009/04/stormy-weather.html)


http://2.bp.blogspot.com/_H2DePAZe2gA/SfHRI3nT-DI/AAAAAAAAI9E/UMLHeN9OqBY/s400/lewis-paulson.JPG (http://2.bp.blogspot.com/_H2DePAZe2gA/SfHRI3nT-DI/AAAAAAAAI9E/UMLHeN9OqBY/s1600-h/lewis-paulson.JPG)





Posted by Jesse at 10:36 AM (http://jessescrossroadscafe.blogspot.com/2009/04/stormy-weather.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=5925234823848549927) :verbeug

....an dem (Hank) perlt doch alles ab :rolleyes:o
(http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=5925234823848549927)

lunar
24.04.2009, 16:57
....es scheint :supi zu sein :)

http://www.iconocast.com/EB000000000000031/K8/News5_0.jpg

http://www.sandaliagiselebundchen.com.br/
(http://images.google.ch/imgres?imgurl=http://www.iconocast.com/EB000000000000031/K8/News5_0.jpg&imgrefurl=http://www.iconocast.com/EB000000000000031/K8/News5.htm&usg=__hWyYsi03uASk47-Y-c9Sg6syVR8=&h=679&w=468&sz=130&hl=de&start=3&um=1&tbnid=tJaqsDP4m-a3OM:&tbnh=139&tbnw=96&prev=/images%3Fq%3DGiselle%2BB%25C3%25BCndchen%2BIpanema%26hl%3Dde%26client%3Dfirefox-a%26rls%3Dorg.mozilla:de%3Cimg%20src=%22images/smilies/redface.gif%22%20border=%220%22%20alt=%22%22%20title=%22Entz%C3%BCrnt%22%20smilieid=%22112%22%20class=%22inlineimg%22%20/%3Efficial%26hs%3DOkh%26sa%3DN%26um%3D1)

lunar
24.04.2009, 20:52
Fri 24 Apr 2009

At Least We’ll Be Busy (http://lolfed.com/2009/04/24/at-least-well-be-busy/)

Posted by Jason under fail (http://lolfed.com/category/fail/)
[5] Comments (http://lolfed.com/2009/04/24/at-least-well-be-busy/#comments)
http://lolfed.com/wp-content/uploads/comingdail.jpg

From CFO.com comes this optimistic report (http://www.cfo.com/article.cfm/13525910?f=most_read). A highlight of how everything will be better this year:
The auditors of nearly one-quarter of publicly traded companies feel that the companies may not live out the year. :rolleyes

No, let me repeat that: 25% of publicly traded companies may fail before the end of this year. One out of every four. If you are a business, call up three of your business buddies and say goodbye, because one of you will be dead in just over eight months. Maybe it will be a hunting accident, maybe one of them will stand in front of a mirror in a dark room and say “Bloody Skilling” three times, or maybe it will be natural causes, but one way or another they may not last the year.

But we’re not going anywhere, so don’t you worry.

lunar
24.04.2009, 20:54
24 April 2009

The Insiders Are Selling Into This Rally.... Heavily (http://jessescrossroadscafe.blogspot.com/2009/04/insiders-are-selling-into-this-rally.html)


http://3.bp.blogspot.com/_H2DePAZe2gA/SfHkkSPipeI/AAAAAAAAI9s/zFcWKlakE14/s320/word.jpg (http://3.bp.blogspot.com/_H2DePAZe2gA/SfHkkSPipeI/AAAAAAAAI9s/zFcWKlakE14/s1600-h/word.jpg) Do you need to buy a vowel?

Again?

Keep the possibility of a significant monetary inflation in mind, with no advance in real terms but a handsome nominal rally.

Yes, they are that desperate and reckless and short-sighted. That's what they did in 2003 in creating the housing bubble to save Wall Street and the financial markets.

Bloomberg (http://www.bloomberg.com/apps/news?pid=email_en&sid=au8cyqeJFifg#)
Insider Selling Jumps to Highest Level Since ‘07 as Stocks Gain
By Michael Tsang and Eric Martin

April 24 (Bloomberg) -- Executives and insiders at U.S. companies are taking advantage of the steepest stock market gains since 1938 to unload shares at the fastest pace since the start of the bear market.

... While the Standard & Poor’s 500 Index climbed 26 percent from a 12-year low on March 9, CEOs, directors and senior officers at U.S. companies sold $353 million of equities this month, or 8.3 times more than they bought, data compiled by Washington Service, a Bethesda, Maryland-based research firm, show. That’s a warning sign because insiders usually have more information about their companies’ prospects than anyone else, according to William Stone at PNC Financial Services Group Inc.

“They should know more than outsiders would, so you could take it as a signal that there is something wrong if they’re selling,” said Stone, chief investment strategist at PNC’s wealth management unit, which oversees $110 billion in Philadelphia. “Whether it’s a sustainable rebound is still in question. I’d prefer they were buying.”

Insiders Sell

Insiders from New York Stock Exchange-listed companies sold $8.32 worth of stock for every dollar bought in the first three weeks of April, according to Washington Service, which analyzes stock transactions of corporate insiders for more than 500 mostly institutional clients.

That’s the fastest rate of selling since October 2007, when U.S. stocks peaked and the 17-month bear market that wiped out more than half the market value of U.S. companies began. The $42.5 million in insider purchases through April 20 would represent the smallest amount for a full month since July 1992, data going back more than 20 years show. That drop preceded a 2.4 percent slide in the S&P 500 in August 1992....

The S&P 500 has rallied 26 percent over 32 trading days, the sharpest rally since 1938, as speculation increased that the longest contraction since World War II will soon end....

Posted by Jesse at 11:57 AM (http://jessescrossroadscafe.blogspot.com/2009/04/insiders-are-selling-into-this-rally.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=2187387106439248572) :verbeug

:schwitz

lunar
24.04.2009, 22:31
:( ....ist kaum noch ein Thema :rolleyes:mad

Death toll in Iraq bombing blitz hits 140 (http://www.timesonline.co.uk/tol/news/world/iraq/article6161968.ece)

http://www.timesonline.co.uk/multimedia/archive/00528/2404iraq2_528759b.jpg (http://www.timesonline.co.uk/tol/news/world/iraq/article6161968.ece)
Huge fresh security fears raised in Baghdad after blasts send fatality levels rocketing in the space of 24 hours



Iraqi police strike fear with rape and beatings (http://www.timesonline.co.uk/tol/news/world/iraq/article6157590.ece)


Iraq Al-Qaeda boss reported captured (http://www.timesonline.co.uk/tol/news/world/iraq/article6155579.ece)
*************************************

More than 6,000 killed in Sri Lanka (http://www.timesonline.co.uk/tol/news/world/asia/article6159596.ece)

http://www.timesonline.co.uk/multimedia/archive/00527/sri_lanka_1_527605b.jpg (http://www.timesonline.co.uk/tol/news/world/asia/article6159596.ece)
Figures from the UN show the death toll over the last three months - 2000 more than their last estimate published last week


Sri Lanka guilty of 'humanitarian disaster' (http://www.timesonline.co.uk/tol/news/world/asia/article6152190.ece)


Final push to obliterate Tamil Tigers (http://www.timesonline.co.uk/tol/news/world/asia/article6147694.ece)

lunar
24.04.2009, 22:37
Fri 24 Apr 2009

Test Worked. I’m Stressed. (http://lolfed.com/2009/04/24/test-worked-im-stressed/)

Posted by Jason under Timmay (http://lolfed.com/category/timmay/) , all ur bankz (http://lolfed.com/category/all-ur-bankz/)

(http://lolfed.com/2009/04/24/test-worked-im-stressed/#respond)
http://lolfed.com/wp-content/uploads/geithnertotherescue.jpg

So today is National Stress Test Day, or something. Today Fed met up with the heads of 19 banks to go over their results, like when you’re not doing so great on your spelling tests and the teacher pulls you aside to go over your work and figure out why you’re so dumb, except instead of going over that infernal “i-before-e” rule one more time in the futile hopes that maybe this time it will sink in, they’re telling banks how much more money they need to raise. We don’t get to find out who passed or failed (rumor has it that Regions got a big fat F, though (http://www.bizjournals.com/birmingham/stories/2009/04/20/daily44.html)), but only released details on how the tests were performed (http://online.wsj.com/article/SB124058562318953065.html#mod=whats_news_free?mod=igoogle_wsj_gadgv1). It was not, as I may have posited in the past, a big Excel spreadsheet but apparently an actual endeavor. A meaningless endeavor, mind you, but at least the people doing it took it kind of seriously.

There really isn’t much exciting coming out of this, sadly. Of the 19 banks tested (those holding at least $100b in assets at the end of 2008), not a one will be allowed to fail. Geithner even went so far as to point out that we shouldn’t be judgin’ banks on account of how well or how badly they did on the stress tests, because they are all unique and beautiful snowflakes that must be preserved. Or something like that.

Timmay, seriously. What’s the point of giving a test if you’re just going to pass everyone?




:reiter
("")

lunar
25.04.2009, 21:51
There There now Bennie….Its OK….we forgive you (http://goldtent.net/wp_gold/2009/04/25/there-there-now-bennieits-okwe-forgive-you/)

-> Posted by Fullgoldcrown @ 10:08 am on April 25, 2009
http://goldtent.net/wp_gold/wp-content/uploads/2009/04/bernankecrying.JPG (http://goldtent.net/wp_gold/wp-content/uploads/2009/04/bernankecrying.JPG)

www.youtube.com/watch?v=vd3r5qvVyRg&feature=related (http://www.youtube.com/watch?v=vd3r5qvVyRg&feature=related)

lunar
25.04.2009, 22:14
TÖDLICHES VIRUS

WHO warnt vor Schweinegrippe-Pandemie (http://www.spiegel.de/wissenschaft/mensch/0,1518,621117,00.html)

In Amerika breitet sich ein neues Grippevirus aus, mehr als 60 Menschen sind bereits gestorben. Wissenschaftlern zufolge sind die Folgen nicht absehbar. In Mexiko-Stadt kommt das öffentliche Leben zum Erliegen, die Weltgesundheitsorganisation warnt vor einer weltweiten Epidemie. mehr... (http://www.spiegel.de/wissenschaft/mensch/0,1518,621117,00.html) [ Video (http://www.spiegel.de/video/video-62529.html) ]




WHO CHIEF: SWINE FLU HAS
"PANDEMIC POTENTIAL" (http://www.huffingtonpost.com/2009/04/25/mexico-city-cancels-all-p_n_191373.html)



Mexico City Cancels All Public Events (http://www.huffingtonpost.com/2009/04/25/mexico-city-cancels-all-p_n_191373.html)







Quick Read (http://www.huffingtonpost.com/2009/04/25/mexico-city-cancels-all-p_n_191373.html) |
Comments (1455) (http://www.huffingtonpost.com/2009/04/25/mexico-city-cancels-all-p_n_191373.html)
| Mexico (http://www.huffingtonpost.com/news/mexico)

lunar
26.04.2009, 09:49
....manche Artikel muss man ganz reinstellen - damit sie nicht ungelesen bleiben :o

Op-Ed Columnist
The Banality of Bush White House Evil

By FRANK RICH (http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/frankrich/index.html?inline=nyt-per) - Published: April 25, 2009

WE don’t like our evil to be banal. Ten years after Columbine (http://www.google.com/hostednews/ap/article/ALeqM5jDN-kS-8DsrFsuwaj9JYLJmrHungD97MICPO0), it only now may be sinking in that the psychopathic killers were not jock-hating dorks from a “Trench Coat Mafia,” or, as ABC News maintained at the time, “part of a dark, underground national phenomenon known as the Gothic movement.” In the new best seller “Columbine (http://www.nytimes.com/2009/04/19/books/review/Senior-t.html),” the journalist Dave Cullen reaffirms that Dylan Klebold and Eric Harris were instead ordinary American teenagers who worked at the local pizza joint, loved their parents and were popular among their classmates.

On Tuesday, it will be five years since Americans first confronted the photographs from Abu Ghraib (http://www.cbsnews.com/stories/2004/04/27/60II/main614063.shtml) on “60 Minutes II.” Here, too, we want to cling to myths that quarantine the evil. If our country committed torture, surely it did so to prevent Armageddon, in a patriotic ticking-time-bomb scenario out of “24.” If anyone deserves blame, it was only those identified by President Bush (http://georgewbush-whitehouse.archives.gov/news/releases/2004/05/20040524-10.html) as “a few American troops who dishonored our country and disregarded our values”: promiscuous, sinister-looking lowlifes like Lynddie England, Charles Graner and the other grunts who were held accountable (http://www.nytimes.com/2005/05/10/national/10graner.html) while the top command got a pass (http://www.washingtonpost.com/wp-dyn/content/article/2006/01/22/AR2006012200928.html).

We’ve learned much, much more about America and torture in the past five years. But as Mark Danner recently wrote (http://www.nybooks.com/articles/22614) in The New York Review of Books, for all the revelations, one essential fact remains unchanged: “By no later than the summer of 2004, the American people had before them the basic narrative of how the elected and appointed officials of their government decided to torture prisoners and how they went about it.” When the Obama administration said it declassified four new torture memos (http://www.nytimes.com/2009/04/17/us/politics/17detain.html) 10 days ago in part because their contents were already largely public (http://www.huffingtonpost.com/2009/04/19/emanuel-to-torture-memo-c_n_188692.html), it was right.

Yet we still shrink from the hardest truths and the bigger picture: that torture was a premeditated policy approved at our government’s highest levels; that it was carried out in scenarios that had no resemblance to “24”; that psychologists and physicians were enlisted (http://www.salon.com/news/feature/2007/06/21/cia_sere/print.html) as collaborators in inflicting pain; and that, in the assessment of reliable sources like the F.B.I. director Robert Mueller (http://www.vanityfair.com/magazine/2008/12/torture200812?currentPage=4), it did not help disrupt any terrorist attacks.

The newly released Justice Department memos, like those before them, were not written by barely schooled misfits like England and Graner. John Yoo, Steven Bradbury and Jay Bybee graduated from the likes of Harvard, Yale (http://topics.nytimes.com/top/reference/timestopics/people/y/john_c_yoo/index.htm), Stanford, Michigan (http://www.nytimes.com/2007/10/04/washington/04interrogate.html) and Brigham Young (http://www.law.com/jsp/law/LawArticleFriendly.jsp?id=1202429821962). They have passed through white-shoe law firms like Covington & Burling, and Sidley Austin.

Judge Bybee’s résumé (http://www.law.unlv.edu/files/Bybee_CV.pdf) tells us that he has four children and is both a Cubmaster for the Boy Scouts and a youth baseball and basketball coach. He currently occupies (http://www.fjc.gov/servlet/tGetInfo?jid=2981) a tenured seat on the United States Court of Appeals. As an assistant attorney general, he was the author of the Aug. 1, 2002, memo (http://documents.nytimes.com/justice-department-memos-on-interrogation-techniques/page/21#p=1) endorsing in lengthy, prurient detail interrogation “techniques” like “facial slap (insult slap)” and “insects placed in a confinement box.”

He proposed using 10 such techniques “in some sort of escalating fashion, culminating with the waterboard, though not necessarily ending with this technique.” Waterboarding, the near-drowning favored by Pol Pot and the Spanish Inquisition, was prosecuted by the United States in war-crimes trials (http://www.nytimes.com/2009/04/22/us/politics/22detain.html) after World War II. But Bybee concluded that it “does not, in our view, inflict ‘severe pain or suffering.’ ”

Still, it’s not Bybee’s perverted lawyering and pornographic amorality that make his memo worthy of special attention. It merits a closer look because it actually does add something new — and, even after all we’ve heard, something shocking — to the five-year-old torture narrative. When placed in full context, it’s the kind of smoking gun that might free us from the myths and denial that prevent us from reckoning with this ugly chapter in our history.

Bybee’s memo was aimed at one particular detainee, Abu Zubaydah, who had been captured some four months earlier, in late March 2002. Zubaydah is portrayed in the memo (as he was publicly by Bush (http://www.washingtonpost.com/wp-dyn/content/article/2006/06/19/AR2006061901211_pf.html) after his capture) as one of the top men in Al Qaeda. But by August this had been proven false. As Ron Suskind reported in his book “The One Percent Doctrine,” Zubaydah was identified soon after his capture as a logistics guy, who, in the words of the F.B.I.’s top-ranking Qaeda analyst at the time, Dan Coleman, served as the terrorist group’s flight booker and “greeter,” like “Joe Louis in the lobby of Caesar’s Palace.” Zubaydah “knew very little about real operations, or strategy.” He showed clinical symptoms of schizophrenia.

By the time Bybee wrote his memo, Zubaydah had been questioned by the F.B.I. and C.I.A. for months and had given what limited information he had. His most valuable contribution was to finger Khalid Shaikh Mohammed as the 9/11 mastermind. But, as Jane Mayer wrote in her book “The Dark Side,” even that contribution may have been old news: according to the 9/11 commission, the C.I.A. had already learned about Mohammed during the summer of 2001. In any event, as one of Zubaydah’s own F.B.I. questioners, Ali Soufan, wrote (http://www.nytimes.com/2009/04/23/opinion/23soufan.html) in a Times Op-Ed article last Thursday, traditional interrogation methods had worked. Yet Bybee’s memo purported that an “increased pressure phase” was required to force Zubaydah to talk.

As soon as Bybee gave the green light, torture followed: Zubaydah was waterboarded (http://www.nytimes.com/2009/04/20/world/20detain.html) at least 83 times in August 2002, according to another of the newly released memos (http://documents.nytimes.com/justice-department-memos-on-interrogation-techniques/page/7#p=121). Unsurprisingly, it appears that no significant intelligence was gained by torturing this mentally ill Qaeda functionary. So why the overkill? Bybee’s memo invoked (http://documents.nytimes.com/justice-department-memos-on-interrogation-techniques/page/7#p=1) a ticking time bomb: “There is currently a level of ‘chatter’ equal to that which preceded the September 11 attacks.”

We don’t know if there was such unusual “chatter” then, but it’s unlikely Zubaydah could have added information if there were. Perhaps some new facts may yet emerge if Dick Cheney succeeds in his unexpected and welcome crusade to declassify documents (http://www.foxnews.com/politics/2009/04/20/cheney-calls-release-memos-showing-results-interrogation-efforts-1862515294/) that he says will exonerate administration interrogation policies. Meanwhile, we do have evidence for an alternative explanation of what motivated Bybee to write his memo that August, thanks to the comprehensive Senate Armed Services Committee report on detainees released last week (http://www.nytimes.com/2009/04/22/us/politics/22report.html).

The report found that Maj. Paul Burney, a United States Army psychiatrist assigned to interrogations in Guantánamo Bay that summer of 2002, told Army investigators (http://documents.nytimes.com/report-by-the-senate-armed-services-committee-on-detainee-treatment#p=72) of another White House imperative: “A large part of the time we were focused on trying to establish a link between Al Qaeda and Iraq and we were not being successful.” As higher-ups got more “frustrated” at the inability to prove this connection, the major said, “there was more and more pressure to resort to measures” that might produce that intelligence.

In other words, the ticking time bomb was not another potential Qaeda attack on America but the Bush administration’s ticking timetable for selling a war in Iraq; it wanted to pressure Congress to pass a war resolution before the 2002 midterm elections. Bybee’s memo was written the week after the then-secret (and subsequently leaked) “Downing Street memo,” in which the head of British intelligence informed Tony Blair (http://www.nybooks.com/articles/18034) that the Bush White House was so determined to go to war in Iraq that “the intelligence and facts were being fixed around the policy.” A month after Bybee’s memo, on Sept. 8, 2002, Cheney would make his infamous appearance (http://www.mtholyoke.edu/acad/intrel/bush/meet.htm) on “Meet the Press,” hyping both Saddam’s W.M.D.s and the “number of contacts over the years” between Al Qaeda and Iraq. If only 9/11 could somehow be pinned on Iraq, the case for war would be a slamdunk.

But there were no links between 9/11 and Iraq, and the White House knew it. Torture may have been the last hope for coercing such bogus “intelligence” from detainees who would be tempted to say anything to stop the waterboarding.

Last week Bush-Cheney defenders, true to form, dismissed (http://thinkprogress.org/2009/04/22/ensign-sasc-report/) the Senate Armed Services Committee report as “partisan.” But as the committee chairman, Carl Levin, told me, the report received unanimous support (http://features.csmonitor.com/politics/2009/04/22/report-says-top-officials-set-tone-for-detainee-abuse/) from its members — John McCain, Lindsey Graham and Joe Lieberman included.

Levin also emphasized the report’s accounts of military lawyers who dissented from White House doctrine — only to be disregarded. The Bush administration was “driven,” Levin said. By what? “They’d say it was to get more information. But they were desperate to find a link between Al Qaeda and Iraq.”

Five years after the Abu Ghraib revelations, we must acknowledge that our government methodically authorized torture and lied about it. But we also must contemplate the possibility that it did so not just out of a sincere, if criminally misguided, desire to “protect” us but also to promote an unnecessary and catastrophic war. Instead of saving us from “another 9/11,” torture was a tool in the campaign to falsify and exploit 9/11 so that fearful Americans would be bamboozled into a mission that had nothing to do with Al Qaeda. The lying about Iraq remains the original sin from which flows much of the Bush White House’s illegality.

Levin suggests — and I agree — that as additional fact-finding plays out, it’s time for the Justice Department to enlist a panel of two or three apolitical outsiders, perhaps retired federal judges, “to review the mass of material” we already have. The fundamental truth is there, as it long has been. The panel can recommend a legal path that will insure accountability for this wholesale betrayal of American values.

President Obama can talk all he wants about not looking back, but this grotesque past is bigger than even he is. It won’t vanish into a memory hole any more than Andersonville, World War II internment camps or My Lai. The White House, Congress and politicians of both parties should get out of the way. We don’t need another commission. We don’t need any Capitol Hill witch hunts. What we must have are fair trials that at long last uphold and reclaim our nation’s commitment to the rule of law.

Next Article in Opinion (2 of 28) » (http://www.nytimes.com/2009/04/26/opinion/26kristof.html) A version of this article appeared in print on April 26, 2009, on page WK14 of the New York edition.

http://community.nytimes.com/article/comments/2009/04/26/opinion/26rich.html

lunar
26.04.2009, 09:59
Bull In Irish Store Causes Chaos (VIDEO) (http://www.huffingtonpost.com/2009/04/25/bull-in-irish-store-cause_n_191442.html)

Huffington Post | 04/25/09 08:28 PM

http://images.huffingtonpost.com/gen/76725/thumbs/s-BULL-IRISH-STORE-VIDEO-large.jpg





http://www.huffingtonpost.com/images/sidebar/comments.gif Comments

(http://www.huffingtonpost.com/2009/04/25/bull-in-irish-store-cause_n_191442.html#comments)
In what is sure to be an experience these supermarket employees in a small Irish town will never forget, a bull escaped from the cattle ring on market day and ran into the store, chasing people around and just generally wreaking havoc. Needless to say, to the employees couldn't quite believe their eyes until the bull headed right towards them. The Guardian has the details. (http://www.guardian.co.uk/world/2009/apr/25/bull-irish-supermarket-shop-footage)

Watch a video report on it from Ireland, including CCTV footage of the bull running around the shop.

http://www.huffingtonpost.com/2009/04/25/bull-in-irish-store-cause_n_191442.html


it-gPAhFq1c&eurl

einer der Kommenare ;) TotalRecall9
That was hilarious. I loved it when the manager said that his supermarket had "the freshest beef".

lunar
26.04.2009, 13:09
http://ec.mashable.com/wp-content/uploads/2009/04/healthmap-mexico.png

http://healthmap.org/en

lunar
27.04.2009, 09:16
....Nachrichten welche die Welt aufhorchen lassen :eek:o;):hihi

Wanderverbot weckt Kampfgeist der Nackten

Von Thomas Knellwolf. Aktualisiert am 26.04.2009 4 Kommentare (http://www.tagesanzeiger.ch/schweiz/standard/Wanderverbot-weckt-Kampfgeist-der-Nackten/story/26612811#kommentar) (...und nebenbei: bitte auch barfuss, wenn schon.:supi)

Die Appenzeller Landsgemeinde hiess gestern ein Gesetz gut, das Alpinismus im Adamskostüm untersagen soll. Nacktwanderer wappnen sich nun für eine juristische Auseinandersetzung.




Nacktwandern verboten – 200 Franken Busse (http://www.tagesanzeiger.ch/schweiz/standard/Nacktwandern-verboten--200-Franken-Busse/story/14046494)
«Bei Frauen hätte ich nichts dagegen», sagte ein altes Bäuerlein :D in der Mittagssonne, «aber bei Männern.» Er hatte die Lacher auf seiner Seite, ohne dass er erklären musste, worum es ging. Das Appenzeller Thema der vergangenen Wochen und Monate, Bergsport ohne Tenue, war auch gestern an der Landsgemeinde Thema des Tages. Verteidigungsminister und Grasexperte Ueli Maurer marschierte hinter einer rot-gelb-grünen Flagge auf dem Landgemeindeplatz ein. Trotz Bekleidung war der naturverbundene Bundesrat, der gerne im Wald nächtigt, ein passender Ehrengast, genau so wie ein Moraltheologe und ein Abgesandter der Innerrhoder Franziskanerklöster. Mit einem «freundlichen Willkomm» begrüsste Landammann Carlo Schmid sie alle auf der «Insel der Seeligen, unserem Innerrhoden»......

http://www.tagesanzeiger.ch/schweiz/standard/Wanderverbot-weckt-Kampfgeist-der-Nackten/story/26612811



(http://www.tagesanzeiger.ch/schweiz/standard/Wanderverbot-weckt-Kampfgeist-der-Nackten/story/26612811)

lunar
27.04.2009, 09:23
NYT Examines Geithner's "Unusually Close Relationships" With Wall Street Execs (http://www.nytimes.com/2009/04/27/business/27geithner.html?hp)

Geithner's Fed Said Predictions of Gloom Were "Flawed" and "Unpersuasive" (http://www.nytimes.com/2009/04/27/business/27geithner.html?hp)






Quick Read (http://www.huffingtonpost.com/2009/04/26/geithner-once-proposed-ha_n_191591.html) |
---> Comments (115) (http://www.huffingtonpost.com/2009/04/26/geithner-once-proposed-ha_n_191591.html)

lunar
27.04.2009, 09:45
http://p3.focus.de/fol/pics/focuslogos/focus_home_ress.gif

26.04. | 65 Kommentare

Bankgeheimnis: Steinbrück setzt Schweiz unter Druck (http://www.focus.de/politik/deutschland/bankgeheimnis-steinbrueck-setzt-schweiz-unter-druck_aid_393584.html)

....die Kommentare sind am aufschlussreichsten :o;)

lunar
27.04.2009, 16:48
Mon 27 Apr 2009

Grand Damn (http://lolfed.com/2009/04/27/grand-damn/)

Posted by Jason under fail (http://lolfed.com/category/fail/)
[3] Comments (http://lolfed.com/2009/04/27/grand-damn/#comments)

http://lolfed.com/wp-content/uploads/pontifail.jpg

A far more tasteful breakout of what “PONTIAC” stands for than I heard as a youth, let me tell you. Suffice to say I never believed that anyone actually thought it was a Cadillac.

So! If you have anything meaningful to say to Pontiac, I suggest you do it soon because the brand is getting the BOOT by the end of next year (http://www.google.com/hostednews/ap/article/ALeqM5jRROQxrU3YC0QnDQpk9h_BC6pZ5wD97QPBP81) at the very latest, because let’s be honest, Pontiac peaked with Smokey and the Bandit II. Since then it’s been relegated to “upgrade” rental car status or “first car” for teenagers of the middle class.

So that’s two down, at least three more to go. Having unloaded Saab already, and looking to dump Hummer (sure, they say “sell” but who is going to buy that brand now after we have seen $4 a gallon gas?) and Saturn, and maybe Opel, GM’s letterhead is about to get a whole lot less cluttered.

;) wir hatten vor Urzeiten mal einen Pontiac - war (damals) ein :supi Auto :cool

lunar
27.04.2009, 16:53
Mon 27 Apr 2009

FDIC: Makin Depositurz Whole, Ur Doin It Rong (http://lolfed.com/2009/04/27/fdic-makin-depositurz-whole-ur-doin-it-rong/)

Posted by alyx under all ur bankz (http://lolfed.com/category/all-ur-bankz/)
No Comments (http://lolfed.com/2009/04/27/fdic-makin-depositurz-whole-ur-doin-it-rong/#respond)

http://lolfed.com/wp-content/uploads/fdic-put-it-back.jpg

Just a quick post because this poor little old lady’s story (http://online.wsj.com/article/SB124079290213557875.html#articleTabs%3Darticle) reminded me of the cat above:
In 2001, [Fran] Sweet says she put her life savings of nearly $600,000 into accounts at Superior Bank of Hinsdale, Ill. About a month later, the Federal Deposit Insurance Corp. seized Superior because of alleged improper financial and accounting practices related to its subprime business. Much of her money, along with deposits of hundreds of other Superior customers, was frozen because it exceeded the $100,000 limit on FDIC insurance at the time. Since then, the FDIC has been making periodic payments to such depositors to cover some of their losses.

Okay, so she had $600K in one bank, which is fail (on her part for not breaking it up into accounts and probably on Superior’s part for not advising her as such). But it’s been eight years, so her frozen assets should’ve been trickled back to her by now, right?

Well, no. FDIC is too busy using Superior’s funds to repay a settlement over some fail mortgages they had allegedly represented:
Earlier this year, FDIC officials told Ms. Sweet her payments had been interrupted, she says. The reason: The agency needed any available Superior-related funds to pay off a $90 million lawsuit settlement with Beal Bank. The Plano, Texas, bank had accused the FDIC of misleading it about the quality of a portfolio of Superior mortgages bought from the agency for $340 million. Beal alleged some of the loans were made with fraudulent appraisals or inaccurate information about a borrower’s income. Many of the loans were made after the FDIC took over Superior. The lawsuit was the subject of a page-one article (http://online.wsj.com/article/SB121641296022866029.html) in The Wall Street Journal last year.

The FDIC didn’t acknowledge wrongdoing in the Beal suit and has said it acted in good faith in its dealings with the bank. An FDIC spokesman says Superior-related funds had to be used to pay the Beal settlement because the litigation is related to the collapsed bank’s loans. The spokesman didn’t say when payments to depositors might resume.

At least one person has died in the interim. The article also goes into detail about the nice people who tanked this bank, and why there should have been enough money to actually reimburse people like Fran:
Superior came into being in the late 1980s, when the Chicago-based Pritzker family partnered with a New York real-estate developer to take over a troubled Illinois thrift with hundreds of millions of dollars of federal aid. Penny Pritzker, finance chair of President Obama’s 2008 election campaign and now a member of his Economic Recovery Advisory Board, served as Superior’s chairman for a time.

For years, Superior reported healthy profits and paid nearly $200 million in dividends to its owners. But the profits came through “flawed” accounting, while the dividends were made “without regard to the deteriorating” condition of Superior, according to a 2002 report by the FDIC. Several months after Superior’s collapse, the Pritzkers, without admitting wrongdoing, agreed to pay $100 million to the FDIC immediately and another $360 million over 15 years. Some of that money has been going to reimburse depositors.

Given the Pritzkers’ wealth and role at Superior, the FDIC should have insisted on provisions to ensure prompt repayment of uninsured depositors, says Timothy Anderson, a retired bank consultant who has followed the Superior case.

Heh… amusing that someone with a legacy of spewing out money despite a deteriorating balance sheet would find a place in government! At any rate, we hope Fran isn’t having to eat cat food because the FDIC is busy paying out a settlement on crap mortgages. And at the rate these fails are going (http://money.cnn.com/2009/04/24/news/companies/bank_failure/?postversion=2009042421), we hope they get around to paying Fran before 2019.

:dumm:mad:bad

lunar
27.04.2009, 21:46
27 April 2009

A Crisis of the Fed's Making (http://jessescrossroadscafe.blogspot.com/2009/04/of-feds-making.html)



After many years of credit binging and monetary mismanagement, the sorcerer's apprentices at the Fed are having to bail hard as the credit tsunami crashes.

http://3.bp.blogspot.com/_H2DePAZe2gA/SfYHwzjTe0I/AAAAAAAAI-s/NZksX__NRuM/s400/diapason.png (http://3.bp.blogspot.com/_H2DePAZe2gA/SfYHwzjTe0I/AAAAAAAAI-s/NZksX__NRuM/s1600-h/diapason.png)

Thanks to Sean Corrigan of Diapason Commodities Management for this chart.



Posted by Jesse at 3:29 PM (http://jessescrossroadscafe.blogspot.com/2009/04/of-feds-making.html) http://www.blogger.com/img/icon18_email.gif (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=709321679108178788):verbeug (http://www.blogger.com/email-post.g?blogID=6418112515382102078&postID=709321679108178788)

lunar
27.04.2009, 22:22
TIEFFLIEGENDER JUMBO

Air-Force-Stunt löst Panik in Manhattan aus (http://www.spiegel.de/panorama/0,1518,621513,00.html)

Viele New Yorker fühlten sich an den 11. September 2001 erinnert: Eine Boeing 747 kreiste über Manhattan und versetzte viele Menschen in Panik. Doch es handelte sich nur um eine Foto-Aktion mit der US-Präsidentenmaschine - die Polizei teilt mit, sie habe die Bevölkerung nicht warnen dürfen. mehr... (http://www.spiegel.de/panorama/0,1518,621513,00.html)

Gefolgt von einem F-16-Kampfjet der Air Force passierte sie erst die Freiheitsstatue, dann den Financial District, umrundete ein paar Mal den Goldman Sachs Tower :rolleyes den höchsten Wolkenkratzer auf der gegenüberliegenden Seite des Hudson Rivers - und verschwand schließlich wieder.....


WATCH: HuffPost Reader Catches Close-Up Video Of Manhattan Plane Scare (http://www.huffingtonpost.com/2009/04/27/manhattan-low-flying-plan_n_191835.html)




Quick Read (http://www.huffingtonpost.com/2009/04/27/manhattan-low-flying-plan_n_191835.html) |
Comments (149) (http://www.huffingtonpost.com/2009/04/27/manhattan-low-flying-plan_n_191835.html)
| Video (http://www.huffingtonpost.com/news/video)

lunar
27.04.2009, 23:04
„Amflora“

Die Genkartoffel darf wieder angebaut werden

http://www.faz.net/m/%7BF547DDBB-C9AE-4DED-A227-3ABD54E2AA29%7DFile1_4.jpg (http://www.faz.net/s/RubD16E1F55D21144C4AE3F9DDF52B6E1D9/Doc%7EE11043B9BE4854DE9BCE0CF4128C1A94B%7EATpl%7EEcommon%7ESMed.html) Nicht zum Essen: Aus der Sorte „Amflora” soll Stärke zur Herstellung von Papier und Klebstoffen gewonnen werden

27. April 2009 Bundeslandwirtschaftsministerin Ilse Aigner (CSU) hat den Versuchs-Anbau der umstrittenen Gen-Kartoffel Amflora erlaubt. Von der Kartoffel gingen „keine Gefahren für die menschliche Gesundheit und die Umwelt“ aus, sagte eine Sprecherin des Ministeriums am Montag auf Anfrage. Zu dieser Überzeugung sei Aigner nach „eingehender Prüfung“ und Gesprächen mit Wirtschaft und Wissenschaft gekommen.

Bei der Erlaubnis geht es um den Versuchs-Anbau der Kartoffel in Mecklenburg-Vorpommern. Amflora produziert aufgrund ihrer genetischen Veränderung mehr von einer bestimmten Stärkesorte, die in der Papier-, Garn- und Klebstoffindustrie verwendet wird. Die Amflora-Kartoffel ist besonders umstritten, weil sie gegen Antibiotika resistent ist. Die Resistenz könne sich auf Tier und Mensch übertragen und den Kampf gegen einzelne Krankheiten erschweren, befürchten Kritiker....

http://www.faz.net/s/RubD16E1F55D21144C4AE3F9DDF52B6E1D9/Doc~E11043B9BE4854DE9BCE0CF4128C1A94B~ATpl~Ecommon~Scontent.html (http://www.faz.net/s/RubD16E1F55D21144C4AE3F9DDF52B6E1D9/Doc%7EE11043B9BE4854DE9BCE0CF4128C1A94B%7EATpl%7EEcommon%7EScontent.html)

:rolleyes Kartoffelkleister :rolleyes

lunar
27.04.2009, 23:05
....auch das noch :(
Strong Earthquake Rocks Mexico (http://www.huffingtonpost.com/2009/04/27/mexico-earthquake-felt-in_n_191822.html)




Quick Read (http://www.huffingtonpost.com/2009/04/27/mexico-earthquake-felt-in_n_191822.html) |
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| CNN (http://www.huffingtonpost.com/news/cnn)

lunar
28.04.2009, 13:22
Mon 27 Apr 2009

BAC Looking for TARP PR 2.0? (http://lolfed.com/2009/04/27/bac-looking-for-tarp-pr-20/)

Posted by alyx under all ur bankz (http://lolfed.com/category/all-ur-bankz/)
[3] Comments (http://lolfed.com/2009/04/27/bac-looking-for-tarp-pr-20/#comments)
Oh, dear me. Bank of America now wants to know what is being said about them on the Internet.

From their website, this posting (http://cli.gs/2h253n)for a “Social Media Research Analyst” went up today. I am barely going to quote back any of it, because it is the worst written job description for anyone in “social media” that I have ever seen; it would have been helpful if they had asked someone under the age of 80 to write it, I think. The only part of it that makes sense at all is this:

Interview clients and stakeholders to identify key words and topics for research requests

Stakeholders? So, you mean this person gets to send Ken Lewis an email and ask him what is up? Can you imagine if I had this job?

Alyx: Hey, Ken, what do you want me to look up today? How many people on StockTwits are shorting BAC? Number of fake John Thains on MySpace taking you to task? Whether or not anyone’s become a Facebook Fan of “Keep The Change?”

Kennay: Hrmmm…

Alyx: Or, do you want me to show you how to Google yourself again? You cried pretty hard the last time we did that.

Kennay: No, can you just, like, show me something that will make me feel better?

Alyx: Um, may take a while.

* 6 hrs later *

Alyx: Okay, I got it.

http://lolfed.com/wp-content/uploads/search-volume-lewis.jpg

Alyx: Sir, you are way more popular than rusty nails.

If I didn’t really like my job cajoling Big Media to embrace Social Media, I’d probably be all over this, just for the lulz.

lunar
28.04.2009, 15:34
Fox Not Airing Obama Press Conference (http://www.huffingtonpost.com/2009/04/27/fox-not-airing-obama-pres_n_191954.html)

DAVID BAUDER (http://www.huffingtonpost.com/2009/04/27/fox-not-airing-obama-pres_n_191954.html#) | April 27, 2009 06:26 PM EST |



http://www.huffingtonpost.com/images/sidebar/comments.gif Comments



(http://www.huffingtonpost.com/2009/04/27/fox-not-airing-obama-pres_n_191954.html#comments)
NEW YORK — Fox became the first broadcast network to turn down a request by President Barack Obama for time, opting to show its drama "Lie to Me" on Wednesday instead of the president's prime-time news conference.

Fox will direct viewers interested in the news conference to Fox News Channel (http://www.huffingtonpost.com/2009/04/27/fox-not-airing-obama-pres_n_191954.html#) and the Fox Business Network, which will both carry it. ABC, CBS, NBC, CNN, MSNBC and CNBC are all carrying the 8 p.m. EDT event, on Obama's 100th day in office.

This will be Obama's third prime-time news conference as president, a schedule that has caused some private grumbling among network executives. Carrying a news conference costs the four broadcast networks an estimated $10 million-plus in lost advertising revenue.

Yet with an economy in distress, two wars and now a swine flu outbreak, the pressure on networks to agree to Obama's request as a public service is enormous.

Executives at Fox, owned by News Corp., would not comment on the decision Monday. It's not without precedent for the network; Fox didn't carry a prime-time speech by President George W. Bush in November 2001 despite a request from the"I can't imagine it was politically motivated," said Shelly Palmer, industry analyst and host of "MediaBytes," a daily show about technology and the media. "I'm assuming it was financially motivated."..... (...dann muss es ihnen aber sehr mies gehen :rolleyes)

lunar
28.04.2009, 18:32
Obama: New York City flyover was 'mistake'

Photo shoot startled financial workers and upset local officials

http://msnbcmedia1.msn.com/j/ap/f6ed47f9-9cf7-4c52-a705-41866c4a41d6.h2.jpg (http://%5Bimg%5Dhttp://msnbcmedia1.msn.com/j/ap/f6ed47f9-9cf7-4c52-a705-41866c4a41d6.h2.jpg%5B/img%5D)...

http://www.msnbc.msn.com/id/30435336/

:kopf kommt mir vor wie ein dummer Jungenstreich - dürfte aber nicht passieren :rolleyes

lunar
28.04.2009, 18:37
Tue 28 Apr 2009

Fortis Shareholders Bring THE BOOT (http://lolfed.com/2009/04/28/fortis-shareholders-bring-the-boot/)

Posted by alyx under all ur bankz (http://lolfed.com/category/all-ur-bankz/)
No Comments (http://lolfed.com/2009/04/28/fortis-shareholders-bring-the-boot/#respond)

At LOLFed, you know we love THE BOOT. We encourage giving bad management and incompetent politicians the boot on a near-daily basis. Today, Fortis shareholders very literally brought our message to management (http://www.reuters.com/article/mergersNews/idUSLS45196220090428):GHENT, Belgium, April 28 (Reuters) - Fortis Chairman Jozef de Mey halted Tuesday’s crucial meeting of Fortis shareholders temporarily after angry investors called for his resignation.

Shareholders are due to vote on the sale of Fortis’ former Belgian banking business to France’s BNP Paribas at meetings in Belgium on Tuesday and the Netherlands on Wednesday.

But investors opposed to the deal, such as those represented by lawyer Mischael Modrikamen and activist investor group Deminor, wanted voting rights for some 170 million shares to be removed from the vote on the sale to BNP. Fortis had not made clear who owned these shares, they argued.

After a Belgian court rejected this request earlier on Tuesday, Modrikamen called on De Mey to remove the voting rights or resign.

When De Mey said he stood by the court’s decision, shareholders grew angry, shouting “resignation” and throwing shoes and coins at the chairman.

The meeting was then stopped, presumably so all shoes and euro coins were confiscated, then allowed to resume. Long-time shareholders who have already incurred massive losses at Fortis are not happy with this deal, and when they couldn’t get satisfaction in the courts, they realized they had no alternative other than to express themselves with footwear. Here’s hoping for a similar show in BAC v. Finger.

:o:D ......ich fände zwar faule Eier und Tomaten besser - aber Schuhe haben eben einen tieferen Sinn :cool

lunar
28.04.2009, 21:26
FRONTAL 21 von jetzt :schreck

http://www.zdf.de/

lunar
28.04.2009, 21:45
....jetzt kommt mal jemand :o

Snowe: GOP Has Abandoned Principles; Specter Switch "Devastating" (http://www.huffingtonpost.com/2009/04/28/snowe-gop-has-abandoned-p_n_192368.html)


04/28/09 03:19 PM
. (http://digg.com/submit?phase=2&url=http://www.huffingtonpost.com/2009/04/28/snowe-gop-has-abandoned-p_n_192368.html)
http://images.huffingtonpost.com/gen/77161/thumbs/s-SNOWE-large.jpg

Comments

(http://www.huffingtonpost.com/2009/04/28/snowe-gop-has-abandoned-p_n_192368.html#comments)
Sen. Olympia Snowe of Maine, one of the few remaining moderate Republicans in the Senate, said Tuesday that Arlen Specter's abandonment of the GOP is "devastating," both "personally and I think for the party."

"I've always been deeply concerned about the views of the Republican Party nationally in terms of their exclusionary policies and views towards moderate Republicans," said Snowe, who has been approached, she said, by Democrats in the past about switching parties.

Specter's switch to the Democratic Party "underscores the blunt reality" that the GOP is not a welcome place for moderates, she said.

So far, she said, she's staying put. "I believe in the traditional tenets of the Republican Party: strong national defense, fiscal responsibility, individual opportunity. I haven't abandoned those principles that have been the essence of the Republican Party. I think the Republican Party has abandoned those principles.

She added that being a Republican is simply part of who she is. "It's my ethnic heritage, Spartan side, that continues to fight," she said.


http://www.huffingtonpost.com/2009/04/28/snowe-gop-has-abandoned-p_n_192368.html



(http://www.huffingtonpost.com/2009/04/28/snowe-gop-has-abandoned-p_n_192368.html)

lunar
28.04.2009, 22:14
Italy Seizes Millions in Assets From Four Banks

By CLAUDIO GATTI
Published: April 27, 2009
With municipal bond (http://topics.nytimes.com/top/reference/timestopics/subjects/m/municipal_bonds/index.html?inline=nyt-classifier) investigations spreading to Europe from the United States, Italian authorities have seized about $300 million in assets of four global banks — JPMorgan Chase (http://topics.nytimes.com/top/news/business/companies/morgan_j_p_chase_and_company/index.html?inline=nyt-org), Deutsche Bank (http://topics.nytimes.com/top/news/business/companies/deutsche_bank_ag/index.html?inline=nyt-org), UBS (http://topics.nytimes.com/top/news/business/companies/ubs_ag/index.html?inline=nyt-org) and Depfa — whose officials have been accused of fraud.

Skip to next paragraph (http://www.nytimes.com/2009/04/28/business/global/28muni.html#secondParagraph) http://graphics8.nytimes.com/images/2009/04/28/business/28muni.190.jpg Giuseppe Aresu/Bloomberg News
Alfredo Robledo, the Milan prosecutor, is accusing the banks of making $130 million in illicit profits over the handling of municipal bonds.

The Guardia di Finanza in Milan, the financial police of Italy, took over real estate properties, bank accounts and stock holdings on Monday to assure it could collect from the banks if their officials were found guilty and the banks were held responsible.

The seizures stem from the banks’ handling of a $2.2 billion municipal bond issue and related financial contracts known as swaps that Milan undertook to retire other debt in June 2005. The lead prosecutor accused the bankers of misleading the city and falsely claiming that the deal would generate savings. If all the costs had been properly included, the prosecutor said, the entire deal would have been illegal under a national law that allows restructuring of debt only if it produces a savings.

Alfredo Robledo, the prosecutor in Milan, suspects the banks made $130 million in illicit profits, according to information obtained in a joint investigation by the Italian business newspaper Il Sole 24 Ore and The International Herald Tribune. He is also investigating transactions by the banks with other local Italian governments and the possibility that public officials received kickbacks.

About 35 billion euros ($46 billion) in bonds were issued by local Italian governments over the last decade, mostly by the London units of large banks based in the United States and Europe. A former executive from one of the banks being investigated in Milan said that all of these could be subject to challenge.

Representatives of each of the four banks declined to comment. JPMorgan is based in New York, Deutsche Bank in Frankfurt, UBS in Zurich and Depfa is a unit of Hypo Real Estate (http://topics.nytimes.com/top/news/business/companies/hypo_real_estate/index.html?inline=nyt-org) in Munich..........

full story: http://www.nytimes.com/2009/04/28/business/global/28muni.html


.....ob die Kavallerie wohl ausreitet :confused:rolleyes:o

lunar
28.04.2009, 22:27
Dendreon shares fall before trading halt

Dendreon shares plunge before trading halt; fall may have been brokerage error, analyst says



On Tuesday April 28, 2009, 4:16 pm EDT
http://finance.yahoo.com/news/Dendreon-shares-fall-before-apf-15059667.html?.v=3
....schon komisch, dass diese Fehler immer zum Nachteil der Anleger ausfallen :rolleyes:o die Nachrichten sollen jedenfalls gut gewesen sen :cool

lunar
28.04.2009, 22:30
Tue 28 Apr 2009

A Quick Note From The Vote (http://lolfed.com/2009/04/28/a-quick-note-from-the-vote/)

Posted by alyx under breaking news (http://lolfed.com/category/breaking-news/)
No Comments (http://lolfed.com/2009/04/28/a-quick-note-from-the-vote/#respond)
http://lolfed.com/wp-content/uploads/kenlewispwnshimself.jpg

Re-using my favorite of Jason’s Ken Lewis photos. From WSJ BREAKING NEWS: CalPERS votes against all 18 BofA directors, including CEO Lewis.

CalPERS said it opposes the directors “for their role in allowing billions of dollars in bonuses to be paid to Merrill Lynch employees and for their role in failing to disclose to shareholders the true financial condition of Merrill Lynch prior to the consummation of the merger.”

They control one-third of one percent of all BAC shares, so we’ve got miles to go before we sleep, though. Big meeting tomorrow, Kennay! Get ready!

In other, excellent news, it’s being rumored that both C and BAC will need to shore up their capital after the stress tests. FBR’s estimated figure for BAC to handle a worst-case scenario involving 12% unemployment - $60 or 70 billion (http://zerohedge.blogspot.com/2009/04/fbr-bank-of-america-needs-70-billion.html):

How much capital does BAC need? The Wall Street Journal is reporting that BAC needs additional capital following the results of the government’s stress test. Using our 12% unemployment rate scenario from last week’s report (”Stress Testing Nine Banks—It’s All About Unemployment,” April 22, 2009), we estimate that BAC needs at least $60 billion to $70 billion in capital to maintain a TCE ratio above 3% at the end of 2010.

Good luck finding that in the couch cushions.




Pack :bad

lunar
29.04.2009, 09:00
OBAMA'S FIRST 100 DAYS: THE GOOD, THE BAD, AND THE GEITHNER (http://www.huffingtonpost.com/arianna-huffington/obamas-first-100-days-the_b_191831.html)

http://images.huffingtonpost.com/gen/77287/thumbs/r-OBAMA-huge.jpg (http://www.huffingtonpost.com/arianna-huffington/obamas-first-100-days-the_b_191831.html)


HUFFPOST BLOGGERS GIVE THEIR GRADES: (http://www.huffingtonpost.com/huffingtonpost/obamas-first-100-days-rep_b_192515.html)
Robert Creamer... (http://www.huffingtonpost.com/robert-creamer/the-first-100-days-how-ob_b_192535.html) Lincoln Mitchell... (http://www.huffingtonpost.com/lincoln-mitchell/the-first-100-days-a-whol_b_192475.html) Robert Kuttner... (http://www.huffingtonpost.com/robert-kuttner/obamas-first-100-days-wha_b_191573.html) Dean Baker... (http://www.huffingtonpost.com/dean-baker/the-obama-administration_b_192568.html) Gary Hart... (http://www.huffingtonpost.com/gary-hart/obamas-first-100-days-and_b_192446.html) Eleanor Smeal... (http://www.huffingtonpost.com/eleanor-smeal/obamas-first-100-days-gia_b_192531.html) Harry Shearer... (http://www.huffingtonpost.com/harry-shearer/the-first-100-days-in-new_b_192062.html) Jason Linkins (http://www.huffingtonpost.com/2009/04/23/media-matters-polls-worst_n_190656.html)
OBAMA'S FIRST 100 DAYS BIGNEWS PAGE (http://www.huffingtonpost.com/news/100-days)





Read Post (http://www.huffingtonpost.com/arianna-huffington/obamas-first-100-days-the_b_191831.html) |
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| Barack Obama (http://www.huffingtonpost.com/news/barack-obama)
....einige Föteli ---> http://www.whitehouse.gov/blog/09/04/28/Delivering-on-Change-an-Inside-Look/





Politics (http://www.huffingtonpost.com/politics/)Obama's First 100 Days: 10 Achievements You Didn't Know About (http://www.huffingtonpost.com/2009/04/29/obamas-first-100-days-10_n_192603.html)

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Obama's Best Moments Abroad... Maine And Gay Marriage (http://www.huffingtonpost.com/2009/04/29/obamas-first-100-days-10_n_192603.html)



Quick Read (http://www.huffingtonpost.com/2009/04/29/obamas-first-100-days-10_n_192603.html) |
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| Obama's First 100 Days (http://www.huffingtonpost.com/news/100-days)

lunar
29.04.2009, 11:09
.....möcht mal wissen (...oder vielleicht besser nicht :rolleyes) wie sich das jemals entfilzen soll :mad

Wed 29 Apr 2009

Beggin’ Bandit (http://lolfed.com/2009/04/29/beggin-bandit/)

Posted by alyx under all ur bankz (http://lolfed.com/category/all-ur-bankz/) , bandit (http://lolfed.com/category/all-ur-bankz/bandit/)

http://lolfed.com/wp-content/uploads/bandit-begs-bonuses.jpg

Mother, may I… incite a mob by handing out bonuses to a bunch of failbank employees?

Citigroup, perhaps thinking we’re all occupied with news of the swine flu, or with the imminent ouster of Ken Lewis, or with our day jobs or something, thinks it’s a great time to ask for permission to hand out some bonuses (http://online.wsj.com/article/SB124096311194466041.html):Citigroup Inc., soon to be one-third owned by the U.S. government, is asking the Treasury for permission to pay special bonuses to many key employees, according to people familiar with the matter.

The request comes as Citigroup is grappling with broad government pay restrictions that could break apart its legendary energy-trading unit. People at that unit, Phibro, are threatening to leave because of pay caps tied to the U.S. bailout of Citigroup. Phibro has been the source of hundreds of millions of dollars in profits for the bank, and has paid out hefty compensation to its employees, including a roughly $100 million windfall last year for the unit’s leader, Andrew Hall. Citigroup is looking for ways to free Phibro from the federal restrictions, including a spinoff of the unit, according to people familiar with the matter.

Meanwhile, Citigroup is trying to get U.S. approval for special bonuses for many employees in the rest of the company. In a meeting earlier this month with Treasury Secretary Timothy Geithner, Citigroup Chief Executive Vikram Pandit made the case for the stock-based bonuses. Executives are describing the bonuses as “retention” awards designed to perk up demoralized employees who the company worries are vulnerable to poaching by rival firms, people familiar with the matter said.

Phibro is a wholly owned (and - gasp - actually profitable!) subsidiary of Citi that trades commodities - you know, things people actually want, instead of SIVs and condos in the swamp 40 miles outside of Miami - with Citi’s cash, so I understand their desire to want to be free from TARP impediments. In other words, I can see these guys getting poached to go work somewhere else where their talents might actually be rewarded, even if you want to make the argument that their “talents” consist of nothing more than making large bets with what is, when you think about it, government cash, for which Citi gets to book the profits. So, you have to think it will end up getting spun off. And if Phibro ends up getting spun off, that puts Citi one step closer to the point where it’s cannibalized itself to the point where naught but fail remains.

The other people on Bandit’s list for the “retention” awards will probably come under more scrutiny than it sounds like the award is worth, considering the awards are planned to be in the form of stock that seems to be diluted on a weekly basis. Better than the options most of their employees are sitting on right now, though, which WSJ says have an average strike price of $41.84. No odds on whether or not Geithner will approve this little scheme — probably depends on how many virtual pitchforks we wave in the air over the news.


Kommentare zum Artikel im WSJ ---> http://online.wsj.com/article/SB124096311194466041.html#articleTabs%3Dcomments

lunar
29.04.2009, 13:02
Mon, Apr 27, 2009 6:30pm ET


Paranoia pandemic: Conservative media baselessly blame swine flu outbreak on immigrants
Summary: Conservative media personalities have baselessly blamed Mexican immigrants for spreading swine flu across the border, despite the fact that several reports have indicated that U.S. swine flu patients had recently traveled to Mexico.....

full story: http://mediamatters.org/items/200904270037?f=h_top

:kopf

lunar
29.04.2009, 20:18
http://goldtent.net/wp_gold/wp-content/uploads/2009/04/tarp.jpg :rolleyes

lunar
29.04.2009, 21:35
Swine flu fashion: People decorate their face masks in a bid to stay positive

By Mirror.co.uk 29/04/2009 (http://www.mirror.co.uk/news/swineflu/2009/04/29/)

Swine flu's no laughing matter but here's proof that no matter how tough it gets some people will always put a brave face on a crisis.

In Mexico City people have begun decorating their swine flu face masks in a bid to raise a smile in the gloom.

Here's our pick of the best in flu mask fashion so far:


http://images.mirror.co.uk/upl/m4/apr2009/4/6/image-4-for-swine-flu-masks-gallery-997776666.jpg (http://javascript%3Cb%3E%3C/b%3E:gallery_21318316.setGalleryPicture%281%29;)

This man in Mexico City sends a message via his Jaws mask not to mess with him.

more picks: http://www.mirror.co.uk/news/swineflu/2009/04/29/swine-flu-face-mask-fashion-people-decorate-their-masks-in-a-bid-to-stay-positive-115875-21318544/

lunar
29.04.2009, 21:50
Wed 29 Apr 2009

Fed: We’ll Keep Cranking The Printing Press At The Same Rate (http://lolfed.com/2009/04/29/fed-well-keep-cranking-the-printing-press-at-the-same-rate/)

Posted by alyx under bernanke (http://lolfed.com/category/bernanke/)

(http://lolfed.com/2009/04/29/fed-well-keep-cranking-the-printing-press-at-the-same-rate/#respond)
http://lolfed.com/wp-content/uploads/bernanke-print.jpg

FOMC statement (http://www.federalreserve.gov/newsevents/press/monetary/20090429a.htm) reports shop-as-usual. They say the economy is continuing to shrink, but not as fast as it was shrinking, so they’ll keep trying to print us out of it at the rate they’ve been going, reiterating their targets for injecting cash into the system this year and our enduring ZIRP:

The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and anticipates that economic conditions are likely to warrant exceptionally low levels of the federal funds rate for an extended period. As previously announced, to provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of up to $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt by the end of the year. In addition, the Federal Reserve will buy up to $300 billion of Treasury securities by autumn.

Could be worse - some people thought they might increase the Treasury buy this time around.

lunar
29.04.2009, 22:04
In Observance of Barack Obama's 100th Day In Office (http://jessescrossroadscafe.blogspot.com/2009/04/barrack-obamas-100th-day-in-office.html)


The Obama Economic Team is a disgrace.

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:rolleyes hat leider nicht ganz unrecht :rolleyes ....bis jetzt :o