A very interesting link on how the Obama team develops economic policy.
http://www.southparkstudios.com/clips/222638
Sunday, March 29, 2009
TARP - Heads the Financier Wins, Tails the Taxpayers Lose....
To achieve "Market Stability", the Obama administration has a plan . Under the proposal outlined by the US Treasury Secretary on March 23, 2009, a Public-Private Investment Partnership, would buy the questionable assets held by insolvent zombie banks. The United States Government would provide low cost financing to private investors to purchase "Troubled Assets" held on and off the the balance sheets of the zombie institutions.
It is the conditions and terms of the financing proposal that cause me the most alarm. The United States Government is prepared to provide debt financing to private entities that are willing to buy the troubled assets. They want to bring back the good old days of debt gorging, and to facilitate that they are providing low cost loans where the investors are only required to pu up 1/7th of the purchase price with the American taxpayer financing the remaining 6/7ths.
In the words of Professor Paul Krugman, the current Nobel Laureate in Economics, the Obama recovery plan amounts to "Cash for Trash". A program where private investors are required to be bribed by the taxpayers to purchase trash assets. It leads one to ask why on earth would a private entity want to purchase "Trash", and the answer is in the financing terms that the US taxpayers are offering to the financiers.
If the asset turns out to be worthless, the US taxpayers will cover the losses. If the asset has an upside, the financier who puts up one seventh of the money gets half the profit, and the US taxpayer who put up 6/7ths of the funds and bears all the risk gets the other half. The problem is that the private investor is insulated from any risk yet they receive 1/2 of the potential reward for basically doing nothing.......
It gets even more surreal as one delves deeper. Since the assets are "Troubled" and producing an income stream that is a fraction of what their book value would require, the US Treasury is prepared to offer financing at a lower rate than what the impaired asset produces. This creates a condition where investors are able to use excessive leverage to make a "Sure Bet". Borrow $6 billion at 1% to buy $7 billion in assets that yield 2%, thereby juicing an assured return on their invested $1 Billion to 8%. If the asset is held to maturity and doesn't suffer a deterioration in its income stream, the US taxpayer essentially winds up subsidizing an excessive guaranteed return to the Wall Street financiers that greatly exceeds the financing costs the US government would normally pay. A taxpayer subsidy of wealthy investors that in Obamese doublespeak is called "Price Discovery".
Borrowing money at low rates to juice the returns on "Sure Bets" is what caused the economic crisis in the first place. The US economy had grown addicted to debt financing, and to cure the addiction, the Obama administration is proposing increasing indebtedness. Yet this indebtedness is not reckless as in the good old days because the US Treasury wants to create a "moral hazard", whereby the reckless parties taking on the debts are insulated from the consequences of their recklessness by the American taxpayer....
Imagine curing heroin addiction by providing an addict with unlimited heroin. The addiction gets cured by killing the addict....
Fix the problem by recreating the conditions that caused the problem in the first place...... A massive inflation of the debt bubble.
It makes me wonder what George Orwell would have to say if he were alive today?
It is the conditions and terms of the financing proposal that cause me the most alarm. The United States Government is prepared to provide debt financing to private entities that are willing to buy the troubled assets. They want to bring back the good old days of debt gorging, and to facilitate that they are providing low cost loans where the investors are only required to pu up 1/7th of the purchase price with the American taxpayer financing the remaining 6/7ths.
In the words of Professor Paul Krugman, the current Nobel Laureate in Economics, the Obama recovery plan amounts to "Cash for Trash". A program where private investors are required to be bribed by the taxpayers to purchase trash assets. It leads one to ask why on earth would a private entity want to purchase "Trash", and the answer is in the financing terms that the US taxpayers are offering to the financiers.
If the asset turns out to be worthless, the US taxpayers will cover the losses. If the asset has an upside, the financier who puts up one seventh of the money gets half the profit, and the US taxpayer who put up 6/7ths of the funds and bears all the risk gets the other half. The problem is that the private investor is insulated from any risk yet they receive 1/2 of the potential reward for basically doing nothing.......
It gets even more surreal as one delves deeper. Since the assets are "Troubled" and producing an income stream that is a fraction of what their book value would require, the US Treasury is prepared to offer financing at a lower rate than what the impaired asset produces. This creates a condition where investors are able to use excessive leverage to make a "Sure Bet". Borrow $6 billion at 1% to buy $7 billion in assets that yield 2%, thereby juicing an assured return on their invested $1 Billion to 8%. If the asset is held to maturity and doesn't suffer a deterioration in its income stream, the US taxpayer essentially winds up subsidizing an excessive guaranteed return to the Wall Street financiers that greatly exceeds the financing costs the US government would normally pay. A taxpayer subsidy of wealthy investors that in Obamese doublespeak is called "Price Discovery".
Borrowing money at low rates to juice the returns on "Sure Bets" is what caused the economic crisis in the first place. The US economy had grown addicted to debt financing, and to cure the addiction, the Obama administration is proposing increasing indebtedness. Yet this indebtedness is not reckless as in the good old days because the US Treasury wants to create a "moral hazard", whereby the reckless parties taking on the debts are insulated from the consequences of their recklessness by the American taxpayer....
Imagine curing heroin addiction by providing an addict with unlimited heroin. The addiction gets cured by killing the addict....
Fix the problem by recreating the conditions that caused the problem in the first place...... A massive inflation of the debt bubble.
It makes me wonder what George Orwell would have to say if he were alive today?
Saturday, March 28, 2009
TARP - The American Troubled Asset Relief Program, a Primer....& Market Stability, two dirty words....
TARP - Short form for the word tarpaulin, a piece of flexible opaque material used to cover up things..............
Sound funny...... If you are a non resident and non-citizen of the USA, it is quite the pun on words.... If you are unfortunate enough to be a citizen or resident of the USA, they are probably the four scariest letters in American English.
The Troubled Asset Relief Program, was a program designed to buy troubled assets off of banks with taxpayer dollars. It was initially proposed by US Treasury Secretary Paulson during the fall of 2008. The aim was to spend $700 Billion taxpayer dollars to buy "Troubled Assets" off of banks in the hope that the removal of the near-worthless asset from the balance sheets of the banks would stimulate the banks to start lending money.......
TARP was initially proposed by the Bush administration during the 2008 presidential election. It had the danger of becoming an election hot-button issue, and it was agreed to by both Obama and McCain. Obama supported it from get go while McCain was initially hesitant but came around to support it. This hesitant support was the fatal miscalculation that cost John McCain the US Presidency........
A "Troubled Asset" as defined by the TARP program is "(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress."
Unless you have an educational background that's equivalent to a MBA in finance with at least an additional one years worth of corporate law, you are unable to understand, or make sense of the definition on the first ten reads.
Under TARP, the US Treasury Secretary is allowed to buy "Troubled Assets" if they feel it promotes "Market Stability"...... "Market Stability" is a state of business as usual prior to the financial crisis. This leads one to ask what was business as usual prior to the financial crisis that started during the Summer of 2007??????? The answer is scary.......
Business as usual (ie Market Stability) was a state where the level of indebtedness was increasing faster than the economy was growing...... Economic growth, being defined as increasing GDP (Gross Domestic Product). GDP or Gross Domestic Product is the sum of, consumption, investment, government spending and net exports. The primary component of GDP is consumption, which in most instances is anywhere from 50 to 72% of all economic activity. GDP as a measurement of economic well being has a couple of inherent flaws because it is possible to double count.
An example of an of how government measures an improvement in "economic well-being (consumption) would be two next door neighbors called Bob & John.
Bob and John both own their houses clear title. Bob and John each borrow $20,000 against their houses on an equity line of credit. Bob pays John $20,000 to dig and refill a hole in his backyard. John pays Bob $20,000 to dig and refill a hole in his back yard. While this sounds absolutely absurd, government statisticians would call this a $40,000 growth in GDP, when it is obvious that nobody is better off, and both John and Bob are worse off......
TARP is intended to produce a state where the level of indebtedness rises faster than the level of the growth illusion ..... That is inherently dangerous, because INDEBTEDNESS IS REAL..... While the growth that is supposed to facilitate the carrying of the indebtedness is an illusion......
It sounds abstract, but the best example possible would be to look at housing..... Under the old "Market Stability" the price of housing increased far faster than incomes... This is because, financial innovations such as 40 year no money down mortgages, allowed private individuals to take on levels of debt that had no basis of possible repayment other than a continuing inflation of asset values with a subsequent sale at some future point in time to cover the indebtedness.....
For the last eight years, most of North America has been operating under an illusion of growth, just as the government was deluded with Bob & John's holes. A significant portion of the population who had acquired real-estate before the expansion of the credit bubble made a startling discovery. Their homes were appreciating at a rate many times greater than their total annual earnings. Instead of waking up, when they did not want to, and doing jobs they did not want to do, they could just keep refianacing their homes whenever they needed money. The beauty of this lifestyle was all the money was tax free, and you got wealthier as you spent, because your underlying asset was appreciating faster than you could bleed it dry.
For the last eight years in North America, this spending of wall money amounted to up to 10% of total annual consumer spending, or up to 7% annual increase in GDP. To a government statistician a 7% increase in GDP sounds great. But when we look under the facade, we as a society were going backwards while fixated on Bob & John's holes.....
Market Stability as envisioned by TARP is a massive PONZI scheme of a magnitude of $50 trillion dollars, which is about 1,000 Bernie Madoffs, or a logarithmic increase of 3.... Market Stability is an ever inflating debt bubble.....
I was two years old when I was able to figure out the larger the bubble that I blew, the bigger and more dramatic the pop..... Why is it that something that the average two year old is capable of envisioning is somehow beyond the comprehension of Wall Street Titans????
The answer is that it is not beyond the Titan's comprehension, but against the Titan's vested interests......
Therein is the root of the problem.
It will take many further posts to explain this one paragraph definition of troubled assets, but at least now you will have a reference point as its now obvious what the financiers are trying to achieve....... Market Stability..... The problem I have is that their definition of "Market Stability" flies in the face of what I would define as "reasonableness" and "common sense"...
Sound funny...... If you are a non resident and non-citizen of the USA, it is quite the pun on words.... If you are unfortunate enough to be a citizen or resident of the USA, they are probably the four scariest letters in American English.
The Troubled Asset Relief Program, was a program designed to buy troubled assets off of banks with taxpayer dollars. It was initially proposed by US Treasury Secretary Paulson during the fall of 2008. The aim was to spend $700 Billion taxpayer dollars to buy "Troubled Assets" off of banks in the hope that the removal of the near-worthless asset from the balance sheets of the banks would stimulate the banks to start lending money.......
TARP was initially proposed by the Bush administration during the 2008 presidential election. It had the danger of becoming an election hot-button issue, and it was agreed to by both Obama and McCain. Obama supported it from get go while McCain was initially hesitant but came around to support it. This hesitant support was the fatal miscalculation that cost John McCain the US Presidency........
A "Troubled Asset" as defined by the TARP program is "(A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress."
Unless you have an educational background that's equivalent to a MBA in finance with at least an additional one years worth of corporate law, you are unable to understand, or make sense of the definition on the first ten reads.
Under TARP, the US Treasury Secretary is allowed to buy "Troubled Assets" if they feel it promotes "Market Stability"...... "Market Stability" is a state of business as usual prior to the financial crisis. This leads one to ask what was business as usual prior to the financial crisis that started during the Summer of 2007??????? The answer is scary.......
Business as usual (ie Market Stability) was a state where the level of indebtedness was increasing faster than the economy was growing...... Economic growth, being defined as increasing GDP (Gross Domestic Product). GDP or Gross Domestic Product is the sum of, consumption, investment, government spending and net exports. The primary component of GDP is consumption, which in most instances is anywhere from 50 to 72% of all economic activity. GDP as a measurement of economic well being has a couple of inherent flaws because it is possible to double count.
An example of an of how government measures an improvement in "economic well-being (consumption) would be two next door neighbors called Bob & John.
Bob and John both own their houses clear title. Bob and John each borrow $20,000 against their houses on an equity line of credit. Bob pays John $20,000 to dig and refill a hole in his backyard. John pays Bob $20,000 to dig and refill a hole in his back yard. While this sounds absolutely absurd, government statisticians would call this a $40,000 growth in GDP, when it is obvious that nobody is better off, and both John and Bob are worse off......
TARP is intended to produce a state where the level of indebtedness rises faster than the level of the growth illusion ..... That is inherently dangerous, because INDEBTEDNESS IS REAL..... While the growth that is supposed to facilitate the carrying of the indebtedness is an illusion......
It sounds abstract, but the best example possible would be to look at housing..... Under the old "Market Stability" the price of housing increased far faster than incomes... This is because, financial innovations such as 40 year no money down mortgages, allowed private individuals to take on levels of debt that had no basis of possible repayment other than a continuing inflation of asset values with a subsequent sale at some future point in time to cover the indebtedness.....
For the last eight years, most of North America has been operating under an illusion of growth, just as the government was deluded with Bob & John's holes. A significant portion of the population who had acquired real-estate before the expansion of the credit bubble made a startling discovery. Their homes were appreciating at a rate many times greater than their total annual earnings. Instead of waking up, when they did not want to, and doing jobs they did not want to do, they could just keep refianacing their homes whenever they needed money. The beauty of this lifestyle was all the money was tax free, and you got wealthier as you spent, because your underlying asset was appreciating faster than you could bleed it dry.
For the last eight years in North America, this spending of wall money amounted to up to 10% of total annual consumer spending, or up to 7% annual increase in GDP. To a government statistician a 7% increase in GDP sounds great. But when we look under the facade, we as a society were going backwards while fixated on Bob & John's holes.....
Market Stability as envisioned by TARP is a massive PONZI scheme of a magnitude of $50 trillion dollars, which is about 1,000 Bernie Madoffs, or a logarithmic increase of 3.... Market Stability is an ever inflating debt bubble.....
I was two years old when I was able to figure out the larger the bubble that I blew, the bigger and more dramatic the pop..... Why is it that something that the average two year old is capable of envisioning is somehow beyond the comprehension of Wall Street Titans????
The answer is that it is not beyond the Titan's comprehension, but against the Titan's vested interests......
Therein is the root of the problem.
It will take many further posts to explain this one paragraph definition of troubled assets, but at least now you will have a reference point as its now obvious what the financiers are trying to achieve....... Market Stability..... The problem I have is that their definition of "Market Stability" flies in the face of what I would define as "reasonableness" and "common sense"...
Friday, March 27, 2009
The Cult of the Great God Obama
I laugh so hard whenever I read doublespeak that members of the Cult of the Obama spew out to explain a contradictory course of action to the course that their God has chosen.
http://community.nytimes.com/article/comments/2009/03/27/opinion/27krugman.html?permid=36#comment36
Heaven help anyone who dares to say that the Great God Obama is incapable of resurrecting the dead....
http://community.nytimes.com/article/comments/2009/03/27/opinion/27krugman.html?permid=36#comment36
Heaven help anyone who dares to say that the Great God Obama is incapable of resurrecting the dead....
Obama's Economic Plan - Is Anyone Niave Enough to Believe he Puts the Taxpayers First?
Mister Squishy - Today we are back with Marcus Licinius Crassus and Vlad the Impaler. The topic will be the Obama's economic recovery plan. Our attention is now focused on Phase III of TARP (Troubled Asset Recovery Program). Gentlemen, any thoughts on the matter....
Crassus - I am starting to come to the conclusion of either one of two things. A> The Obama is the most incompetent fool to have ever walked this planet, or B> He is corrupt, a liar, a scoundrel and rotten to his vile core.
Vlad - Finally someone coming to their senses and starting to see things as I see it. Stalin with his purging ideas for the Obama is bad. Hitler with his "Man Crush" on the Obama is just plain vulgar. He is a Hussein, thus he is an enemy of Christ..........,..
Mister Squishy - Crassus, you have issued a very strong condemnation of the Obama. What basis do you have to arrive at your conclusion?
Crassus - Well to put it bluntly, the latest phase of the Economic Recovery Plan is just plain stupid. He pretends that he is so smart, yet his plan shows he has no understanding of the underlying problem.
Lets start with the problem. Banks have bought, with debt financing troubled assets, and stashed them off their balance sheets. ..... A troubled asset means that it is an asset whose value has been so badly impaired that it is worth nowhere near what the bank paid. Because it was purchased with debt it is available for a "Fire Sale Price". Obama has the opportunity to pick up assets for the Republic inexpensively, yet he intends to use the state treasury to pay grossly inflated prices for these worthless assets. Where is his duty to look after his citizens? He wants to take public funds to line private pockets. He wants all losses to be Socialized which means they are borne by the citizens of the Republic. While all profits are Privatized. In effect he has deliberately chosen to deny the citizens of the Republic any upside, while exposing them to all of the downside. In my day, this was called TREASON.
Vlad - I am starting to think that the Obama is Greek. He sees himself as being an agent of positive change, yet it appears his only interest was assuming elected office so he could loot the state treasury for his bosses. If anyone had read their history, the Greeks presented the Trojans with a gift horse, that turned out to be a very unpleasant surprise once the Trojans allowed the "Gift" into the city.
Mister Squishy - So it appears both of you are saying that the Obama puts the interests of the wall Street thieves first, ahead of the interests of the people.
Crassus - I cannot say a stronger "YES", the man has derelicted his duties, and he reminds me of that idiot Nero. When I was building the Republic, I had control of the treasury. I had to use tax funds collected from my citizens, fellow Romans to purchase assets for the republic. This I performed to the best of my abilities. I set up fire brigades, and whenever a private building caught on fire, we had an instance where the private owner was holding a troubled asset. I would show up with the fire team, and make the owner of the building a low ball offer while the fire team stood and waited. If the building owner said no to my offer, the fire team would continue waiting, the building would continue to burn, and I would make the owner an even LOWER offer. If they said no to my second offer, the fire team waited, and when I saw the fire was in danger of spreading to other buildings I gave the owner an ultimatum. Either they immediately grant ownership of the building to the state, or they will be billed for the fire suppression costs on all the neighboring properties. In every instance, the citizen willingly granted the building to Rome, for they could not afford the fire suppression bill for the neighborhood, and as a bankrupt, they would be entertainment at the Colosseum.
Vlad - So Crassus, you made a point of ensuring that the citizens of the republic paid the lowest price possible for the assets.
Crassus - Yes. That was my duty of Due Care, that was one of my obligations of the job. The Obama on the other hand has divided the treasuries funds into several agencies that are supposed to start a bidding war to inflate the price of worthless assets... Basically, getting the people to pay many times more than what the asset is worth.... Then he wants to subsidize the purchase of these assets with private funds and State Guarantees that the price will not drop below the imaginary shill auction inflated price.....
Mister Squishy - Why would the Obama want to deliberately waste tax dollars paying top dollars for something that is worthless....
Vlad - He is a Turk. He is an enemy of Christ. He is the Spawn of Lucifer...
Crassus - As I said, he is either the stupidest idiot to have ever walked the earth, or he has been paid off by the Wall Street bankers... An Offshore Trust funds perhaps, or maybe some???? But whatever, he has brainwashed his supporters to such a degree that they will believe anything he tells them even when he is doing the exact opposite. Hitler was right in the sense that if you tell a big lie often enough, the masses are gullible enough to believe it....
Mister Squishy - So there we have it, our distinguished guests have concluded that the Obama has been hired by the bankers to break into the state treasury, and steal for the bankers everything that isn't nailed down.......
Vlad - If we nail something to a scoundrels head, there would be no need to nail the state treasury to the floor....
Crassus - I am starting to come to the conclusion of either one of two things. A> The Obama is the most incompetent fool to have ever walked this planet, or B> He is corrupt, a liar, a scoundrel and rotten to his vile core.
Vlad - Finally someone coming to their senses and starting to see things as I see it. Stalin with his purging ideas for the Obama is bad. Hitler with his "Man Crush" on the Obama is just plain vulgar. He is a Hussein, thus he is an enemy of Christ..........,..
Mister Squishy - Crassus, you have issued a very strong condemnation of the Obama. What basis do you have to arrive at your conclusion?
Crassus - Well to put it bluntly, the latest phase of the Economic Recovery Plan is just plain stupid. He pretends that he is so smart, yet his plan shows he has no understanding of the underlying problem.
Lets start with the problem. Banks have bought, with debt financing troubled assets, and stashed them off their balance sheets. ..... A troubled asset means that it is an asset whose value has been so badly impaired that it is worth nowhere near what the bank paid. Because it was purchased with debt it is available for a "Fire Sale Price". Obama has the opportunity to pick up assets for the Republic inexpensively, yet he intends to use the state treasury to pay grossly inflated prices for these worthless assets. Where is his duty to look after his citizens? He wants to take public funds to line private pockets. He wants all losses to be Socialized which means they are borne by the citizens of the Republic. While all profits are Privatized. In effect he has deliberately chosen to deny the citizens of the Republic any upside, while exposing them to all of the downside. In my day, this was called TREASON.
Vlad - I am starting to think that the Obama is Greek. He sees himself as being an agent of positive change, yet it appears his only interest was assuming elected office so he could loot the state treasury for his bosses. If anyone had read their history, the Greeks presented the Trojans with a gift horse, that turned out to be a very unpleasant surprise once the Trojans allowed the "Gift" into the city.
Mister Squishy - So it appears both of you are saying that the Obama puts the interests of the wall Street thieves first, ahead of the interests of the people.
Crassus - I cannot say a stronger "YES", the man has derelicted his duties, and he reminds me of that idiot Nero. When I was building the Republic, I had control of the treasury. I had to use tax funds collected from my citizens, fellow Romans to purchase assets for the republic. This I performed to the best of my abilities. I set up fire brigades, and whenever a private building caught on fire, we had an instance where the private owner was holding a troubled asset. I would show up with the fire team, and make the owner of the building a low ball offer while the fire team stood and waited. If the building owner said no to my offer, the fire team would continue waiting, the building would continue to burn, and I would make the owner an even LOWER offer. If they said no to my second offer, the fire team waited, and when I saw the fire was in danger of spreading to other buildings I gave the owner an ultimatum. Either they immediately grant ownership of the building to the state, or they will be billed for the fire suppression costs on all the neighboring properties. In every instance, the citizen willingly granted the building to Rome, for they could not afford the fire suppression bill for the neighborhood, and as a bankrupt, they would be entertainment at the Colosseum.
Vlad - So Crassus, you made a point of ensuring that the citizens of the republic paid the lowest price possible for the assets.
Crassus - Yes. That was my duty of Due Care, that was one of my obligations of the job. The Obama on the other hand has divided the treasuries funds into several agencies that are supposed to start a bidding war to inflate the price of worthless assets... Basically, getting the people to pay many times more than what the asset is worth.... Then he wants to subsidize the purchase of these assets with private funds and State Guarantees that the price will not drop below the imaginary shill auction inflated price.....
Mister Squishy - Why would the Obama want to deliberately waste tax dollars paying top dollars for something that is worthless....
Vlad - He is a Turk. He is an enemy of Christ. He is the Spawn of Lucifer...
Crassus - As I said, he is either the stupidest idiot to have ever walked the earth, or he has been paid off by the Wall Street bankers... An Offshore Trust funds perhaps, or maybe some???? But whatever, he has brainwashed his supporters to such a degree that they will believe anything he tells them even when he is doing the exact opposite. Hitler was right in the sense that if you tell a big lie often enough, the masses are gullible enough to believe it....
Mister Squishy - So there we have it, our distinguished guests have concluded that the Obama has been hired by the bankers to break into the state treasury, and steal for the bankers everything that isn't nailed down.......
Vlad - If we nail something to a scoundrels head, there would be no need to nail the state treasury to the floor....
Thursday, March 26, 2009
DSC - defn " A Financial Advisers Way of Saying Copulate Yourself
DSC....
The three most obscene letters in the Queens English...
They stand for Deferred Sales Charge.
They mean in nine out of ten instances that your financial adviser has hung you, their livestock out to dry. I use the word livestock instead of client, because in many instances, your financial adviser thinks you the customer are a dumb fool and they are rendering your foolish financial carcass for every last drop they can squeeze out of you..
A deferred sales charge is an insidious method financial advisers use to park their clients money, without their clients full understanding for the financial advisers benefit. A deferred sales charge compensates financial advisers excessively for placing their clients funds in a situation that is not in their clients best interest. Basically a mutual fund that under preforms the index yet demands 75% of the investors returns as management expenses. Hanging you out to die the death of many small cuts.
Marios Golden Rules Are Here:
1> Independent Canadian mutual funds are a scam. Fidelity Magellan (Available to US Residents) charges an MER of o.52% (Management Expense Ratio). The Average Canadian Bank Owned Fund, has an MER of 1%. The Average Equity Fund sold by Independent Financial Advisers have an MER of closer to 3%. We are in a low return period. 4% per annum over the next ten years will be an awesome return. Why do some parasitic pieces of thieving matter expelled from the rectum deserve 75% of an above average return when the investor is taking all the risk. (Obama views taxpayers the same way financial advisers view investors)>
2> If you want to punt in the stock market.... Buy an Index Fund.... Warren Buffet is the first person to admits he cannot beat an index..... If some obsessive aspect of your personality drags you to mutual funds, buy in house bank funds. Buying an independent mutual fund just shows that you are ignorant, and as the old saying goes fools and their money are quickly parted. Buying an independent mutual fund means you think your financial adviser is SMARTER THAN WARREN BUFFET....... THAT'S JUST PLAIN 'SILLY.........
I will be exploring deferred sales charges further in a later posting. We will be bringing back Vlad the Impaler, and we will get his take on this despicable form of financial maleficence
It will be exciting to see how the champion of honesty would deal with thieving advisers.
Here is the Financial Adviser Hanging Song
A fool and their money are quickly parted, so in a way, the DSC does serve to get money recirculating in the economy. Remove it from the fools account, give it to the free spending bloodsucker, and let the bloodsucker piss it away faster. Imagine Ian Thow. But moving the Rocky Mountains from BC to Quebec could get money circulating, but ethically.
The three most obscene letters in the Queens English...
They stand for Deferred Sales Charge.
They mean in nine out of ten instances that your financial adviser has hung you, their livestock out to dry. I use the word livestock instead of client, because in many instances, your financial adviser thinks you the customer are a dumb fool and they are rendering your foolish financial carcass for every last drop they can squeeze out of you..
A deferred sales charge is an insidious method financial advisers use to park their clients money, without their clients full understanding for the financial advisers benefit. A deferred sales charge compensates financial advisers excessively for placing their clients funds in a situation that is not in their clients best interest. Basically a mutual fund that under preforms the index yet demands 75% of the investors returns as management expenses. Hanging you out to die the death of many small cuts.
Marios Golden Rules Are Here:
1> Independent Canadian mutual funds are a scam. Fidelity Magellan (Available to US Residents) charges an MER of o.52% (Management Expense Ratio). The Average Canadian Bank Owned Fund, has an MER of 1%. The Average Equity Fund sold by Independent Financial Advisers have an MER of closer to 3%. We are in a low return period. 4% per annum over the next ten years will be an awesome return. Why do some parasitic pieces of thieving matter expelled from the rectum deserve 75% of an above average return when the investor is taking all the risk. (Obama views taxpayers the same way financial advisers view investors)>
2> If you want to punt in the stock market.... Buy an Index Fund.... Warren Buffet is the first person to admits he cannot beat an index..... If some obsessive aspect of your personality drags you to mutual funds, buy in house bank funds. Buying an independent mutual fund just shows that you are ignorant, and as the old saying goes fools and their money are quickly parted. Buying an independent mutual fund means you think your financial adviser is SMARTER THAN WARREN BUFFET....... THAT'S JUST PLAIN 'SILLY.........
I will be exploring deferred sales charges further in a later posting. We will be bringing back Vlad the Impaler, and we will get his take on this despicable form of financial maleficence
It will be exciting to see how the champion of honesty would deal with thieving advisers.
Here is the Financial Adviser Hanging Song
Hang the Adviser, hang him high.
Hoist his body to the sky.
It's as nice as a day can be.
Won't you come to the hanging with me?
Hang the Adviser, hang him well.
Send his sorry soul to hell.
When his neckbone snaps we'll know.
He won't steal from the people anymore.
His face will turn red,
Then purple, then blue.
We'll watch from up here
To get a good view.
And when his eyes bug out we'll know,
It's the end of him
And the end of the show!
So hang the Adviser, hang him with cheer.
We'll make some hot dogs
And drink a few beers.
And when his tongue rolls out we'll know,
It's the end of the show
And we all can go home!
Kiss his thieving butt goodbye.
It's as nice as a day can be.
Won't you come to the hanging with me?
His veins will pop out all over his head.
We'll tickle his armpits to make sure he's dead.
And when his tongue rolls out we'll know,
It's the end of him and we all can go home!
But not till we
Hang the Adviser, hang him high.
Hoist his body to the sky.
When his body stops jerking we'll know,
It's the end of him, it's the end of him,
It's the end of him!
Let's get on with the show!
(Words by Randal Parker Jr., with embellishment by MNE)
A fool and their money are quickly parted, so in a way, the DSC does serve to get money recirculating in the economy. Remove it from the fools account, give it to the free spending bloodsucker, and let the bloodsucker piss it away faster. Imagine Ian Thow. But moving the Rocky Mountains from BC to Quebec could get money circulating, but ethically.
Wednesday, March 25, 2009
Obama - The Cult of Personality..... A chat with Hitler
Look in his eyes.....
What do you see.......
It's the cult of personality....
Mister Squishy - Today we will be exploring the Obama's cult of personality. Rejoining us today, after his feral kitten socialization break is is Adolph Hitler. Herr Fuhrer, welcome...
Hitler - Thanks Mister Squishy for keeping the round table going in my brief absence. If more people cared about their companion animals, and exercised responsibility in getting their pets spayed and neutered, we would not have a feral kitten problem.
Mister Squishy - OK Adolph, thank you for another public service announcement. It's obvious from what we both see that the Obama has been reading your playbook...
Hitler - The kid is brilliant. He is the son that I never had.... But alas during World War II, we had lots of men named Hussein in my, 23rd Mountain Handschar Schutzstaffel Division, so in a way I did have surrogate sons named Hussein.... But these previous Husseins were amateurs......
Mister Squishy - So the Obama is "Special" as far as you are concerned....
Hitler - Very special. To give you an idea of how special he is, we will explore my rise to power with his. With a little coaching who knows what the kid is capable of... So here we go.... Just imagine we are making potato pancakes, and frying them in vegetable fat.
1> Create a False Mythology and Establish Street Credibility. In my case, I relied on my Iron Cross, my jail time, and my book outlining my myth and my struggle, "Mein Kampf". The Obama kid did the same thing with embracing his imaginary blackness and all the attendant struggles, then writing "Dreams of my Father".
2> Develop a hand movement emotions routine that memorizes your supporters. I spent days and weeks in front of the mirror developing my hand gestures, my facial responses and my posture. All of which had to be learned so well, that I could put emphasis on absolutely nothing. It's obvious the Obama kid is smart, because he never wasted time re-inventing the wheel, he just watched my old newsreels and imitated me.
3> Develop a very simple slogan that the masses can repeat like a mantra..... If the slogan is the right one, rational individuals will have their brains turn into malleable mush, and their moral compass will be so messed up they will be capable of anything..... here is where the kids true genius shows up...
Ein Volk - One People
Ein Reich - One Nation
Ein Fuhrer - Yes We Can
Repeat this over and over again at mass rallies until the supporters have the glazed look in their eyes of an idiot. Boy this step worked for me. But when I see how the Obama kid pulled it off, he has turned his supporters into the most viscous intellectual jackboots around. They think he is the Messiah.......
4> - Show the people that you are someone who is not to be messed with. During my "Night of the Long Knives" my first staunch supporters, the gay bouncers from the Berlin Cabarets were taken out by my Schutzstaffel. When people saw how easy it was to have my dearest friend Ernest Rohm destroyed, they knew that messing with me would result in nasty consequences. Obama was great, he managed to deliver a mortal blow to Gay Hollywood's dream on his election night. He didn't even have to assume power, his Afro-American Schutzstaffel, came out en mass on election day in California, to bash those filthy homosexuals back into the closet with Proposition 8. Brilliant, take out the homosexuals to get support of the conservatives.....
5> - Develop a form of doublespeak that can distort the meaning of anything to fit your wishes. He kept all of George Bush's powers that subverted the constitution, by simply renaming them. That way he could claim to have brought about change.......... Remember people are so stupid that if you repeat a big lie often enough, they will believe it.......
6> - Deal with the Jews....... This one here is an open book. But so far, he has shown signs that his support for Israel is weak... I still wonder did he create the Bernie Madoff?
Mister Squishy - So there you have it, an analysis of Obama's rise to power with the master at the manipulation of democracies levers.
Hitler - Imagine what the kid would be capable of if we could get him to give up smoking, and adopt a healthy vegetarian lifestyle. Getting a dog, is a very good first step. It should serve to calm his nerves and lower his blood pressure.
Mister Squishy - Join us next time when we explore the Obama's ecomic policies with our two finance experts, Marcus Licinius Crassus & Vlad the Impaler...
What do you see.......
It's the cult of personality....
Mister Squishy - Today we will be exploring the Obama's cult of personality. Rejoining us today, after his feral kitten socialization break is is Adolph Hitler. Herr Fuhrer, welcome...
Hitler - Thanks Mister Squishy for keeping the round table going in my brief absence. If more people cared about their companion animals, and exercised responsibility in getting their pets spayed and neutered, we would not have a feral kitten problem.
Mister Squishy - OK Adolph, thank you for another public service announcement. It's obvious from what we both see that the Obama has been reading your playbook...
Hitler - The kid is brilliant. He is the son that I never had.... But alas during World War II, we had lots of men named Hussein in my, 23rd Mountain Handschar Schutzstaffel Division, so in a way I did have surrogate sons named Hussein.... But these previous Husseins were amateurs......
Mister Squishy - So the Obama is "Special" as far as you are concerned....
Hitler - Very special. To give you an idea of how special he is, we will explore my rise to power with his. With a little coaching who knows what the kid is capable of... So here we go.... Just imagine we are making potato pancakes, and frying them in vegetable fat.
1> Create a False Mythology and Establish Street Credibility. In my case, I relied on my Iron Cross, my jail time, and my book outlining my myth and my struggle, "Mein Kampf". The Obama kid did the same thing with embracing his imaginary blackness and all the attendant struggles, then writing "Dreams of my Father".
2> Develop a hand movement emotions routine that memorizes your supporters. I spent days and weeks in front of the mirror developing my hand gestures, my facial responses and my posture. All of which had to be learned so well, that I could put emphasis on absolutely nothing. It's obvious the Obama kid is smart, because he never wasted time re-inventing the wheel, he just watched my old newsreels and imitated me.
3> Develop a very simple slogan that the masses can repeat like a mantra..... If the slogan is the right one, rational individuals will have their brains turn into malleable mush, and their moral compass will be so messed up they will be capable of anything..... here is where the kids true genius shows up...
Ein Volk - One People
Ein Reich - One Nation
Ein Fuhrer - Yes We Can
Repeat this over and over again at mass rallies until the supporters have the glazed look in their eyes of an idiot. Boy this step worked for me. But when I see how the Obama kid pulled it off, he has turned his supporters into the most viscous intellectual jackboots around. They think he is the Messiah.......
4> - Show the people that you are someone who is not to be messed with. During my "Night of the Long Knives" my first staunch supporters, the gay bouncers from the Berlin Cabarets were taken out by my Schutzstaffel. When people saw how easy it was to have my dearest friend Ernest Rohm destroyed, they knew that messing with me would result in nasty consequences. Obama was great, he managed to deliver a mortal blow to Gay Hollywood's dream on his election night. He didn't even have to assume power, his Afro-American Schutzstaffel, came out en mass on election day in California, to bash those filthy homosexuals back into the closet with Proposition 8. Brilliant, take out the homosexuals to get support of the conservatives.....
5> - Develop a form of doublespeak that can distort the meaning of anything to fit your wishes. He kept all of George Bush's powers that subverted the constitution, by simply renaming them. That way he could claim to have brought about change.......... Remember people are so stupid that if you repeat a big lie often enough, they will believe it.......
6> - Deal with the Jews....... This one here is an open book. But so far, he has shown signs that his support for Israel is weak... I still wonder did he create the Bernie Madoff?
Mister Squishy - So there you have it, an analysis of Obama's rise to power with the master at the manipulation of democracies levers.
Hitler - Imagine what the kid would be capable of if we could get him to give up smoking, and adopt a healthy vegetarian lifestyle. Getting a dog, is a very good first step. It should serve to calm his nerves and lower his blood pressure.
Mister Squishy - Join us next time when we explore the Obama's ecomic policies with our two finance experts, Marcus Licinius Crassus & Vlad the Impaler...
Tuesday, March 24, 2009
Hussein Obama - Socialize Losses & Privatize Profits
Obama never ceases to amaze me....
His economic plan, to quote Paul Krugman the Nobel Laureate "the plan is to use taxpayer funds to drive the prices of bad assets to fair levels"
In the Queens English - Use taxpayer funds to buy worthless crap off of his Wall Street bosses....
What is even funnier is the ridiculous length members of The Cult of the Obama go to apologize and provide contradictory explanations to every action the Great God Obama does.....
It's time to call a spade a spade.....
But then again, the Nobel prize in Medicine is available for the first person that can prove Obama worship is a mental illness...
His economic plan, to quote Paul Krugman the Nobel Laureate "the plan is to use taxpayer funds to drive the prices of bad assets to fair levels"
In the Queens English - Use taxpayer funds to buy worthless crap off of his Wall Street bosses....
What is even funnier is the ridiculous length members of The Cult of the Obama go to apologize and provide contradictory explanations to every action the Great God Obama does.....
It's time to call a spade a spade.....
But then again, the Nobel prize in Medicine is available for the first person that can prove Obama worship is a mental illness...
Sunday, March 22, 2009
AIG, How to solve the World Financial Crisis, Restore Confidence & Have Fun. Hang 78 deserving scoundrels
A song outlining how given immunity from prosecution, I would go about saving the world financial system. My best estimate is that it is necessary to snap 78 necks to put an end to the economic crisis, restore confidence, and make the world a better place.
Also my repeat chance to gloat for my call to crucify the entire staff of AIG's London Derivatives Group, three weeks before Obama's hissy fit.......
Sung to the tune of "The Twelve Days of Christmas"
To save the world economy we'll hang from the highest tree...
The Chairman of AIG.
To save the world economy we'll hang from the highest tree...
Two pay consultants , and The Chairman of AIG......
To save the world economy we'll hang from the highest tree...
Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG....
To save the world economy we'll hang from the highest tree...
Five O.C. housewives .................................. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG....
To save the world economy we'll hang from the highest tree...
Six Realtors a lying, Five O.C. housewives , Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG....
To save the world economy we'll hang from the highest tree...
Seven H&G writers, Six Realtors a lying, Five O.C. housewives, Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG......
To save the world economy we'll hang from the highest tree...
Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. housewives. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. Housewives. Four property flippers, Three Lehman Brothers, Two Pay Consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Ten mortgage securitizers, Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. Housewives. Four property flippers, Three Lehman Brothers, Two Pay Consultants, and The Chairman of AIG......
To save the world economy we'll hang from the highest tree...
Eleven Merrill Lynchers , Ten mortgage securitizers, Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. housewives. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Cramer and his his crew, Eleven Merrill Lynchers , Ten mortgage securitizers, Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. Housewives. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
And The Chairman of AIG........
There you have it. My first idea of how to restore confidence to the global economy. Instead of throwing trillions of dollars away and wasting a collective decade of humanities existence, lets instead hang some deserving douche bags and have some fun doing it.
copyright: Mario Nikita Erlic
Also my repeat chance to gloat for my call to crucify the entire staff of AIG's London Derivatives Group, three weeks before Obama's hissy fit.......
Sung to the tune of "The Twelve Days of Christmas"
To save the world economy we'll hang from the highest tree...
The Chairman of AIG.
To save the world economy we'll hang from the highest tree...
Two pay consultants , and The Chairman of AIG......
To save the world economy we'll hang from the highest tree...
Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG....
To save the world economy we'll hang from the highest tree...
Five O.C. housewives .................................. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG....
To save the world economy we'll hang from the highest tree...
Six Realtors a lying, Five O.C. housewives , Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG....
To save the world economy we'll hang from the highest tree...
Seven H&G writers, Six Realtors a lying, Five O.C. housewives, Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG......
To save the world economy we'll hang from the highest tree...
Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. housewives. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. Housewives. Four property flippers, Three Lehman Brothers, Two Pay Consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Ten mortgage securitizers, Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. Housewives. Four property flippers, Three Lehman Brothers, Two Pay Consultants, and The Chairman of AIG......
To save the world economy we'll hang from the highest tree...
Eleven Merrill Lynchers , Ten mortgage securitizers, Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. housewives. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
To save the world economy we'll hang from the highest tree...
Cramer and his his crew, Eleven Merrill Lynchers , Ten mortgage securitizers, Nine Sleeping Auditors, Eight Hedge Fund Heads, Seven H&G writers, Six Realtors a lying, Five O.C. Housewives. Four property flippers, Three Lehman Brothers, Two pay consultants, and The Chairman of AIG.......
And The Chairman of AIG........
There you have it. My first idea of how to restore confidence to the global economy. Instead of throwing trillions of dollars away and wasting a collective decade of humanities existence, lets instead hang some deserving douche bags and have some fun doing it.
copyright: Mario Nikita Erlic
Saturday, March 21, 2009
A Public Spending Program That Might Have a Tangible Benefit.
Every day it seems that Western Civilization is descending further into a comedy of the absurd. In The USA and Canada both country's respective leaders have been using the same playbook for their economic strategy. If you were thinking that they were using a macro-economics textbook, you are wrong. If you think they were reading a work of fiction, you are getting warm.
In my opinion, both of them have mistakenly grabbed a copy of Aldous Huxley's "A Brave New World".
In this book written by the mid 20th century surrealist, the economic role of government was directly interventionist. All of society was divided into five main groups and they were deliberately bred that way so as to achieve a twisted form of balance.
The Alphas, were the intellectuals. The Beta's were the technocrats. The Gammas were assembly line workers, while the Deltas were created for manual labour. Finally the Epsilons were created to serve the societal role of the lovable village idiot.
To keep each class of individual busy, the role of government in this world was to devise stupid programs that kept everybody too busy to think. In the case of Obama and Harper this is what I think they came up with.
The Alphas - To keep the intellectually gifted class busy, it is necessary to have them involved with exercises in futility that require great intelligence. Hence "Green Energy Programs", litigation over whom/what/where/when to bailout, and trying to prove that Ït's people not the sun that warms the planet". If the Alphas are wasting their time with madness, they become too busy to "Write & Incite".
The Betas - To keep the skilled workers busy, Huxley had them developing infrastructure for games such as "Escalator Golf". For Harper and Obama, "The Auto Bailout", tooling up factories to build cars with state subsidies that nobody wants, so as to keep people busy.
The Gamma - Were kept busy in Huxley's book on assembly lines building useless objects, such as the components for "Escalator Golf Courses" or useless manufactured goods that none wants such as North American Auto's.
The Deltas - Were kept busy as labourers taking orders from and assisting the Betas. Harper and Obama's examples would be road building, and building highly useful capital intensive items such as "Luge Runs". They could also be employed to immediately smash all the cars that nobody wants, that the government is subsidizing into their base components to feed the recycling industry.
The Epsilons - In the "Brave New World" the village idiots were kept busy working as elevator operators. Whereas today, the Village Idiots are granted tenure in Universities so they can study "Man-Made Global Warming".
So there you have it. Harper and Obama both grabbing Huxley's book by accident, and mistaking it for an advanced Economics text. To think that in simpler times, all we had to worry about was George Bush thinking that "The Dukes of Hazard County" was a documentary.
So what is my idea?
A little bit of background. Every time that there was a major economic meltdown in the last 200 years, a bloody war would follow.
1812 - Europe had a Malaria pandemic, the economy suffered. Result the War of 1812, and the last of the Napoleonic Wars.
1870s - The Railroad Bubble Depression, with the attendant result being; the Franco-Prussian, the Balkan, and finally the Russian-Turkish wars....
1907 - The Monetary Panic, followed by World War One...
1930s - The Great Depression, followed by World War Two.
My idea of an intelligent economic response......
Every man and woman between the ages of 18 to 64 is to undergo basic military training. The only exception is individuals suffering from a degenerative disease such as ALS, Parkinson's, Severe Arthritis, etc. Every fit adult would become a trained reservist thereby taking up all of the economic slack.....
No Exception would be given to the obese. They would undergo the same basic training as the rest. Being fat in 99% of the cases can be cured with forced lifestyle change. Depending upon the level of obesity, military training might take three times as long, but if the end result is a militarily capable individual, the effort is worth it..
We would start a massive armaments buildup, where every trained reservist would by law be required to maintain, and keep safe their military equipment which includes a "Fully Automatic Assault Rifle", thereby we in fortress North America would be ready for whatever turmoil the world throws at us. The Swiss and the Swedes have been doing this for centuries, and it hasn't hurt them.
Every Economic downturn of this severity was followed by a bloody war. If you love our free liberal democratic society that we have in North America, we must all bear a responsibility to protect it.
World War III is coming. There is a poor and hungry world out there with not enough wealth to go around. Anyone who truly believes that all wealth on the planet must be shared equally between all of humanity is delusional. There is a third world that is Islamic, young and hungry, while we in the west are aging and decaying as victims of our own excesses. We have something that they want, and conflict will be the inevitable result.
So while Harper and Obama are busy wasting time & money.... I am training my decrepit 44 year-old body in the futile hope of being able to reach a level of fitness required by a JTF2 specialist. When the shit hits the fan, we will all face two choices. Either we will be weak out of shape slobs that will become someones punkass bitch, or we will be fit and ready to face what the world will inevitably be throwing at us....
But just maybe forcing everyone to physically shape up might just save many trillions of dollars of future health care costs, and pay for getting the country out of this mess.
In my opinion, both of them have mistakenly grabbed a copy of Aldous Huxley's "A Brave New World".
In this book written by the mid 20th century surrealist, the economic role of government was directly interventionist. All of society was divided into five main groups and they were deliberately bred that way so as to achieve a twisted form of balance.
The Alphas, were the intellectuals. The Beta's were the technocrats. The Gammas were assembly line workers, while the Deltas were created for manual labour. Finally the Epsilons were created to serve the societal role of the lovable village idiot.
To keep each class of individual busy, the role of government in this world was to devise stupid programs that kept everybody too busy to think. In the case of Obama and Harper this is what I think they came up with.
The Alphas - To keep the intellectually gifted class busy, it is necessary to have them involved with exercises in futility that require great intelligence. Hence "Green Energy Programs", litigation over whom/what/where/when to bailout, and trying to prove that Ït's people not the sun that warms the planet". If the Alphas are wasting their time with madness, they become too busy to "Write & Incite".
The Betas - To keep the skilled workers busy, Huxley had them developing infrastructure for games such as "Escalator Golf". For Harper and Obama, "The Auto Bailout", tooling up factories to build cars with state subsidies that nobody wants, so as to keep people busy.
The Gamma - Were kept busy in Huxley's book on assembly lines building useless objects, such as the components for "Escalator Golf Courses" or useless manufactured goods that none wants such as North American Auto's.
The Deltas - Were kept busy as labourers taking orders from and assisting the Betas. Harper and Obama's examples would be road building, and building highly useful capital intensive items such as "Luge Runs". They could also be employed to immediately smash all the cars that nobody wants, that the government is subsidizing into their base components to feed the recycling industry.
The Epsilons - In the "Brave New World" the village idiots were kept busy working as elevator operators. Whereas today, the Village Idiots are granted tenure in Universities so they can study "Man-Made Global Warming".
So there you have it. Harper and Obama both grabbing Huxley's book by accident, and mistaking it for an advanced Economics text. To think that in simpler times, all we had to worry about was George Bush thinking that "The Dukes of Hazard County" was a documentary.
So what is my idea?
A little bit of background. Every time that there was a major economic meltdown in the last 200 years, a bloody war would follow.
1812 - Europe had a Malaria pandemic, the economy suffered. Result the War of 1812, and the last of the Napoleonic Wars.
1870s - The Railroad Bubble Depression, with the attendant result being; the Franco-Prussian, the Balkan, and finally the Russian-Turkish wars....
1907 - The Monetary Panic, followed by World War One...
1930s - The Great Depression, followed by World War Two.
My idea of an intelligent economic response......
Every man and woman between the ages of 18 to 64 is to undergo basic military training. The only exception is individuals suffering from a degenerative disease such as ALS, Parkinson's, Severe Arthritis, etc. Every fit adult would become a trained reservist thereby taking up all of the economic slack.....
No Exception would be given to the obese. They would undergo the same basic training as the rest. Being fat in 99% of the cases can be cured with forced lifestyle change. Depending upon the level of obesity, military training might take three times as long, but if the end result is a militarily capable individual, the effort is worth it..
We would start a massive armaments buildup, where every trained reservist would by law be required to maintain, and keep safe their military equipment which includes a "Fully Automatic Assault Rifle", thereby we in fortress North America would be ready for whatever turmoil the world throws at us. The Swiss and the Swedes have been doing this for centuries, and it hasn't hurt them.
Every Economic downturn of this severity was followed by a bloody war. If you love our free liberal democratic society that we have in North America, we must all bear a responsibility to protect it.
World War III is coming. There is a poor and hungry world out there with not enough wealth to go around. Anyone who truly believes that all wealth on the planet must be shared equally between all of humanity is delusional. There is a third world that is Islamic, young and hungry, while we in the west are aging and decaying as victims of our own excesses. We have something that they want, and conflict will be the inevitable result.
So while Harper and Obama are busy wasting time & money.... I am training my decrepit 44 year-old body in the futile hope of being able to reach a level of fitness required by a JTF2 specialist. When the shit hits the fan, we will all face two choices. Either we will be weak out of shape slobs that will become someones punkass bitch, or we will be fit and ready to face what the world will inevitably be throwing at us....
But just maybe forcing everyone to physically shape up might just save many trillions of dollars of future health care costs, and pay for getting the country out of this mess.
Friday, March 20, 2009
AIG Too Big to Fail - And Pigs Fly
One of the most disturbing arguments one hears from corporate welfare bums is that their companies are to big to fail. Bullshit.
If a corporation reaches the size that the head honcho claims is "Too Big to be Allowed to Fail", a criminal monopoly has arisen.
This starts a cacophony of whiners. Public bureaucrats rape good taxpayers to line the pockets of corporate titans so as to guarantee a fat plum job to the bureaucrat when they choose to cash out.
Here is an idea to put an end to the "Too Big to be Allowed to Fail" nonsense once and for all.
Every 3 months, the CEO of a publicly traded corporation has to sign off on a statement that his company is not "Too Big to be Allowed to Fail". The CEOs who refuse to sign have their names placed on a list. One week before the Superbowl, a lottery is held of the CEOs who feel that their company is "Too Big to be Allowed to Fail". The draw is statistically weighted in probability to the amount of taxpayer assistance the corporation receives. The winner, if you could call them that is given one of two choices.
Choice A: - Their wrists are duct tapped together, and they are rolled in ground pig liver. Then the crew from the "Bad Boyz Kennel" release a pack of pit bulls on them during the half time show at center field during the Superbowl game.
Choice B: Their bodies are shaved, and they are given breast implants. They are abandoned naked at night with no money in the middle of a slum in a Arab country. If they get out alive, they are free, but they can't keep the money.
If it happened that I was the CEO, I would pick Choice A
This is guaranteed to ensure that a criminal corporate monopoly is never able to rape the taxpayers again.:
If a corporation reaches the size that the head honcho claims is "Too Big to be Allowed to Fail", a criminal monopoly has arisen.
This starts a cacophony of whiners. Public bureaucrats rape good taxpayers to line the pockets of corporate titans so as to guarantee a fat plum job to the bureaucrat when they choose to cash out.
Here is an idea to put an end to the "Too Big to be Allowed to Fail" nonsense once and for all.
Every 3 months, the CEO of a publicly traded corporation has to sign off on a statement that his company is not "Too Big to be Allowed to Fail". The CEOs who refuse to sign have their names placed on a list. One week before the Superbowl, a lottery is held of the CEOs who feel that their company is "Too Big to be Allowed to Fail". The draw is statistically weighted in probability to the amount of taxpayer assistance the corporation receives. The winner, if you could call them that is given one of two choices.
Choice A: - Their wrists are duct tapped together, and they are rolled in ground pig liver. Then the crew from the "Bad Boyz Kennel" release a pack of pit bulls on them during the half time show at center field during the Superbowl game.
Choice B: Their bodies are shaved, and they are given breast implants. They are abandoned naked at night with no money in the middle of a slum in a Arab country. If they get out alive, they are free, but they can't keep the money.
If it happened that I was the CEO, I would pick Choice A
This is guaranteed to ensure that a criminal corporate monopoly is never able to rape the taxpayers again.:
Thursday, March 19, 2009
I called Obama for what he is first......
I get a chuckle at all the furor and indignation Hussein Obama is showing over AIG. While Obama was was authorizing the payment of HUSH MONEY, I was calling for public impalement of AIG derivatives traders.
So nice to see that Republican senators agree with my views, and are calling on AIG derivatives traders to do humanity a favour and kill themselves through ritualistic self-disembowelment.
My call to impale was a full 48 hours before the Senate Republicans started to grumble that AIG executives bow respectfully to the American and commit Sepeku. This involves taking a razor sharp dagger, placing the point on the right side of the rectus abdominus, driving the blade in, and pulling leftward towards the left extremity of the same muscle group. Then the blade is turned upward and pulled towards the top right of the rectus abdominus group. If the AIG executive did the job properly, they would not dishonor themselves by showing pain, and all of their innards would spill out as they feel forward into them. This is what the US Republicans are calling for. Makes my call for impaling the top ten executives of the derivatives group at the centre of Canary Wharf reasonable.
Besides, I had the "Hang the Banker" song on this blog four weeks weeks ago. Two weeks ago I had suggested hanging tranches of scoundrels to the twelve days of Christmas.
Its so nice that people are starting to see that my ideas for dealing with scoundrels are quite reasonable, and moderate.
So nice to see that Republican senators agree with my views, and are calling on AIG derivatives traders to do humanity a favour and kill themselves through ritualistic self-disembowelment.
My call to impale was a full 48 hours before the Senate Republicans started to grumble that AIG executives bow respectfully to the American and commit Sepeku. This involves taking a razor sharp dagger, placing the point on the right side of the rectus abdominus, driving the blade in, and pulling leftward towards the left extremity of the same muscle group. Then the blade is turned upward and pulled towards the top right of the rectus abdominus group. If the AIG executive did the job properly, they would not dishonor themselves by showing pain, and all of their innards would spill out as they feel forward into them. This is what the US Republicans are calling for. Makes my call for impaling the top ten executives of the derivatives group at the centre of Canary Wharf reasonable.
Besides, I had the "Hang the Banker" song on this blog four weeks weeks ago. Two weeks ago I had suggested hanging tranches of scoundrels to the twelve days of Christmas.
Its so nice that people are starting to see that my ideas for dealing with scoundrels are quite reasonable, and moderate.
AIG - How to perform a Show Trial, some pointers for the Obama, from Stalin & Beria, sorry no Hitler today..
Mister Squishy - As promised, we are continuing our discussion today with Joseph Stalin, and Lavrenti Beria. Unfortunately Adolph Hitler could not be with us as he had previous volunteer commitments at the local animal shelter. OK guys, who wants to start.
Beria - If its OK with you Joseph, I would like to sketch out the parameters.
Stalin - Go for it, I find it so soothing listening about purging before lunch. Helps my digestion.
Mister Squishy - Comrade Beria the microphone is all yours.
Beria - I really appreciate the recognition. I will do my best. Holding a show trial involves extensive preparation. The most important thing is deciding on whom to torture first. You must pick an absolute cockroach with limited character and integrity. The reason is the first accused has to be someone you can break easily, and extract a confession plus a naming of co-conspirators.
Mister Squishy - So who would be your first pick?
Stalin - Geithner, he reminds me of the idiot I convinced to kill Kirov.....
Beria - Ah Koba, it so nice that us Georgians think alike.... Yes Geithner was my first choice. See how slight he is, and how smooth his facial skin is... Obviously he is some form of sexual deviant. Basically I follow a step by step process sort of like a recipe for borch and latki. So here are my secrets:
1> Pick the right torture room. It should be dimly lit, cold, humid, devoid of any signs of life. There must be no windows, and ideally noisy pipes running below the ceiling.
2> Prepare the first subject well. Deprive the subject of food, sleep, and the ability to stretch their body to full length for at least 72 hours.
3> Prepare the confession in advance, and make sure to include on the paper the names of his co-conspirators. If you don't do this first, he might die before you are finished, and you need them alive so you can place their head on the paper over each name like a bingo stamper, and get their initials or bloody face prints for each co conspirator.
4> When the victim has been well prepped with step 2. Bring him into the room. Offer the man a cigarette, and explain to him what he is to confess to. Show him a copy of the confession, and politely ask him to sign it.
5> If he is cooperative, get their signature. Get them to read the confession in full for the audio recording. Take them immediately to the execution chamber and give them two in the back of the head.
6> If the person is not cooperative. Start with electricity, then fire and finally water. Repeat electricity, fire, water, as many times as necessary.
7> See if they will confess. If so get the confession signed, and get them ready for the show trial.
8> If they don't confess... The iron bar. This has never failed me. My expertise was ensuring that there would never be another Bukharin incident again. No confessions, no closure.
Mister Squishy - Thank you Comrade Beria for those words of wisdom. I bet Geithner is a very happy man that he does not have to deal with you.
Mister Squishy - Now we move onto the show trial pahase and we give the mike to Joseph Stalin.
Stalin - A "Show Trial" is "Showtime". It is something that has to be simple enough so that all the illiterates can understand what is going on. I need my own private viewing booth behind curtains and bulletproof glass. It must be close enough to the accused that they feel my presence, and confess to everything they are supposed to and to make no reference to anything else other than being "Sorry for what they did to Mother Russia". We try twenty scoundrels that the Geithner would have named as co-conspirators with him, and we ensure they all say "Da" at the appropriate moment.
Afterward when it is time to shoot them take everyone but Geithner to the chambers and shoot them immediately. Whereas with the Geithner, spend two days putting the boots to him like we did to Yagoda as a punishment for not getting the ^##^%#^ confessions from AIG. He made me look bad. Exile his family to the gulag. Purge every book in every library of the memntion of his name. "Obama, are you listening?".
Mister Squishy - There we have it. Joseph Stalin and Lavrenti Beria's latest on how to deal with AIG and Geithner.
Stalin - Remember it always takes more courage to retreat than to attack....
Beria - If its OK with you Joseph, I would like to sketch out the parameters.
Stalin - Go for it, I find it so soothing listening about purging before lunch. Helps my digestion.
Mister Squishy - Comrade Beria the microphone is all yours.
Beria - I really appreciate the recognition. I will do my best. Holding a show trial involves extensive preparation. The most important thing is deciding on whom to torture first. You must pick an absolute cockroach with limited character and integrity. The reason is the first accused has to be someone you can break easily, and extract a confession plus a naming of co-conspirators.
Mister Squishy - So who would be your first pick?
Stalin - Geithner, he reminds me of the idiot I convinced to kill Kirov.....
Beria - Ah Koba, it so nice that us Georgians think alike.... Yes Geithner was my first choice. See how slight he is, and how smooth his facial skin is... Obviously he is some form of sexual deviant. Basically I follow a step by step process sort of like a recipe for borch and latki. So here are my secrets:
1> Pick the right torture room. It should be dimly lit, cold, humid, devoid of any signs of life. There must be no windows, and ideally noisy pipes running below the ceiling.
2> Prepare the first subject well. Deprive the subject of food, sleep, and the ability to stretch their body to full length for at least 72 hours.
3> Prepare the confession in advance, and make sure to include on the paper the names of his co-conspirators. If you don't do this first, he might die before you are finished, and you need them alive so you can place their head on the paper over each name like a bingo stamper, and get their initials or bloody face prints for each co conspirator.
4> When the victim has been well prepped with step 2. Bring him into the room. Offer the man a cigarette, and explain to him what he is to confess to. Show him a copy of the confession, and politely ask him to sign it.
5> If he is cooperative, get their signature. Get them to read the confession in full for the audio recording. Take them immediately to the execution chamber and give them two in the back of the head.
6> If the person is not cooperative. Start with electricity, then fire and finally water. Repeat electricity, fire, water, as many times as necessary.
7> See if they will confess. If so get the confession signed, and get them ready for the show trial.
8> If they don't confess... The iron bar. This has never failed me. My expertise was ensuring that there would never be another Bukharin incident again. No confessions, no closure.
Mister Squishy - Thank you Comrade Beria for those words of wisdom. I bet Geithner is a very happy man that he does not have to deal with you.
Mister Squishy - Now we move onto the show trial pahase and we give the mike to Joseph Stalin.
Stalin - A "Show Trial" is "Showtime". It is something that has to be simple enough so that all the illiterates can understand what is going on. I need my own private viewing booth behind curtains and bulletproof glass. It must be close enough to the accused that they feel my presence, and confess to everything they are supposed to and to make no reference to anything else other than being "Sorry for what they did to Mother Russia". We try twenty scoundrels that the Geithner would have named as co-conspirators with him, and we ensure they all say "Da" at the appropriate moment.
Afterward when it is time to shoot them take everyone but Geithner to the chambers and shoot them immediately. Whereas with the Geithner, spend two days putting the boots to him like we did to Yagoda as a punishment for not getting the ^##^%#^ confessions from AIG. He made me look bad. Exile his family to the gulag. Purge every book in every library of the memntion of his name. "Obama, are you listening?".
Mister Squishy - There we have it. Joseph Stalin and Lavrenti Beria's latest on how to deal with AIG and Geithner.
Stalin - Remember it always takes more courage to retreat than to attack....
Wednesday, March 18, 2009
AIG What would Stalin or Hitler do if They Were Here Right Now?
Mister Squishy - We continue with our historic panel discussion of the continuing AIG saga, but have decided to get a more modern point of view. Tonight's two main panelists need no introduction, Joseph Stalin and Adolph Hitler. In addition we have asked Lavrenti Beria, former head of the KGB for 15 years under Stalin, and the individual at the receiving end of Nikita Khrushchev's decapitation strike.
Mister Squishy - Any words on President Obama's flip flopping on the AIG bonuses. They are OK with him on Saturday and Geithner gets the go ahead, but when it appears his people are about to revolt, he acts indignant and pretends that he had no knowledge...
Stalin - Reminds me when I ordered the idiot whose name I have forgot to shoot Kirov. Convince a fool like Geithner that paying the bonuses is a course of action that is good for the country. Then assign all the blame to him and shoot him like a dog.
Hitler - The Obama kid is a fast learner. Take one of you closest supporters and confidants Timothy Geithner, and sick the Schutzstaffel on him. When people saw what my Schutzstaffel did to my dear friend and leader of the Sturmabteilung Ernest Rohm. Nobody messed with my authority, nor made jokes about my height, or my testicle again. But Stalin, why do you keep using the phrase "Shoot him like a Dog". Dog is man's best friend. You do not shoot dogs. Take your aggression out on a subhuman cockroach instead.
Mister Squishy - Adolph, have you ever considered becoming a spokeshuman for PETA?
Hitler - No it hasn't crossed my mind, but who knows what I will do to keep occupied once I have completed my final solution.
Mister Squishy - OK are we all agreed that the Obama will be stabbing Geithner in the back?
Hitler - Javolt
Stalin - Da
Beria - Da
Mister Squishy - We have Republican Senators suggesting that the AIG derivatives traders do the world a favour and commit suicide. Any thoughts?
Hitler - I gave my best man Rommel that option, and like a gentleman he took it.
Mister Squishy - It seems that the world is pissed at AIG. Many people are calling for a show trial. Tomorrow, Hitler won't be with us as he is volunteering to socialize feral kittens at an animal shelter. We will be exploring the nuances and details of Show Trials, with the two Georgians. Till Tomorrow.
Stalin - "it's Show Time", I just had to say it, and "Charlie Chaplin I love you"
Mister Squishy - Goodnight
Mister Squishy - Any words on President Obama's flip flopping on the AIG bonuses. They are OK with him on Saturday and Geithner gets the go ahead, but when it appears his people are about to revolt, he acts indignant and pretends that he had no knowledge...
Stalin - Reminds me when I ordered the idiot whose name I have forgot to shoot Kirov. Convince a fool like Geithner that paying the bonuses is a course of action that is good for the country. Then assign all the blame to him and shoot him like a dog.
Hitler - The Obama kid is a fast learner. Take one of you closest supporters and confidants Timothy Geithner, and sick the Schutzstaffel on him. When people saw what my Schutzstaffel did to my dear friend and leader of the Sturmabteilung Ernest Rohm. Nobody messed with my authority, nor made jokes about my height, or my testicle again. But Stalin, why do you keep using the phrase "Shoot him like a Dog". Dog is man's best friend. You do not shoot dogs. Take your aggression out on a subhuman cockroach instead.
Mister Squishy - Adolph, have you ever considered becoming a spokeshuman for PETA?
Hitler - No it hasn't crossed my mind, but who knows what I will do to keep occupied once I have completed my final solution.
Mister Squishy - OK are we all agreed that the Obama will be stabbing Geithner in the back?
Hitler - Javolt
Stalin - Da
Beria - Da
Mister Squishy - We have Republican Senators suggesting that the AIG derivatives traders do the world a favour and commit suicide. Any thoughts?
Hitler - I gave my best man Rommel that option, and like a gentleman he took it.
Mister Squishy - It seems that the world is pissed at AIG. Many people are calling for a show trial. Tomorrow, Hitler won't be with us as he is volunteering to socialize feral kittens at an animal shelter. We will be exploring the nuances and details of Show Trials, with the two Georgians. Till Tomorrow.
Stalin - "it's Show Time", I just had to say it, and "Charlie Chaplin I love you"
Mister Squishy - Goodnight
AIG - Money Laundering 101 the Obama Adminstration Handbook.....
You have to hand it to the Obama administration. If you are going to launder money, they have set the bar high. Go big, or go home.
Money Laundering is a pastime that the office of the Presidency has engaged in through its shadow agencies since the beginning of the Republic.
Prior to Ronald Reagan's assistance of the Afghan rebels, most hashish in North America came from the Beka Valley in Lebanon. Their were two main varieties, Blond Lebanese, and Red Lebanese. They had a consistency of compressed dried camel dung, and if you smoked a couple of grams of the Blond, you might get a headache. Whereas, if you smoked a gram of the Red, you would get a mild buzz. During the Russian war against the Mujaheddin, the west got it's first wide scale exposure to Black Afghan Hash.
Compared to the Lebanese Hash, the Afghan product was clouds above. All it took was a couple of puffs, and welcome to euphoria. The most distinguishing features about the product was:
1> Its colour - Black
2> It's consistency - soft like putty
3> The Gold Seal - A stamp made of gold leaf on each kilo that let the smoker know that proceeds of the hash sales went to support the cause of Afghan freedom.
So there we were, undergrads in the eighties, getting far mar stoned than our predecessors in the sixties, thanks to the US Central Intelligence Agency. When hotknifng hash was an act of patriotism in our cold war struggle.
The way money laundering worked for the Reagan administration was simple. The CIA made sure the hash got to North America. Millions of individuals in North America who were sick of Mexican and Colombian pot provided a ready market. The hash sale money went to the Afghan freedom fighters, and they purchased weapons made in the USA. These weapons were used by the Mujaheddin to kill Soviet troops. All the while the West got so stoned that "Hair Bands" were able to come out.
Simple and innocent.
The Obama Administration has showed how to increase the size and scope of money laundering to the stratospheric league. Bailout a counter party with billions so that the funds can be disbursed without public scrutiny.
AIG is a hidden slush fund. It is a black hole that US taxpayers money gets poured into to payout speculative bets made by foreign entities. AIG is also used by the US government to luander additional payments of tax dollars to previously bailed out US Zombie banks through the double dipping process. The AIG bonuses that Obama authorized on the weekend were hush money, paid out to FORMER STAFF MEMBERS of the AIG Derivatives group. What is so nasty that individuals who set off the largest WMD in human history, get rewarded by the US President. Who are the counter parties to the bets that must be paid courtesy of the US taxpayers. What truth does the AIG crew know that must be kept silenced at such a great cost?????
Ah the simple innocent years when all it took was a couple of grams of hash ;-)......................
Money Laundering is a pastime that the office of the Presidency has engaged in through its shadow agencies since the beginning of the Republic.
Prior to Ronald Reagan's assistance of the Afghan rebels, most hashish in North America came from the Beka Valley in Lebanon. Their were two main varieties, Blond Lebanese, and Red Lebanese. They had a consistency of compressed dried camel dung, and if you smoked a couple of grams of the Blond, you might get a headache. Whereas, if you smoked a gram of the Red, you would get a mild buzz. During the Russian war against the Mujaheddin, the west got it's first wide scale exposure to Black Afghan Hash.
Compared to the Lebanese Hash, the Afghan product was clouds above. All it took was a couple of puffs, and welcome to euphoria. The most distinguishing features about the product was:
1> Its colour - Black
2> It's consistency - soft like putty
3> The Gold Seal - A stamp made of gold leaf on each kilo that let the smoker know that proceeds of the hash sales went to support the cause of Afghan freedom.
So there we were, undergrads in the eighties, getting far mar stoned than our predecessors in the sixties, thanks to the US Central Intelligence Agency. When hotknifng hash was an act of patriotism in our cold war struggle.
The way money laundering worked for the Reagan administration was simple. The CIA made sure the hash got to North America. Millions of individuals in North America who were sick of Mexican and Colombian pot provided a ready market. The hash sale money went to the Afghan freedom fighters, and they purchased weapons made in the USA. These weapons were used by the Mujaheddin to kill Soviet troops. All the while the West got so stoned that "Hair Bands" were able to come out.
Simple and innocent.
The Obama Administration has showed how to increase the size and scope of money laundering to the stratospheric league. Bailout a counter party with billions so that the funds can be disbursed without public scrutiny.
AIG is a hidden slush fund. It is a black hole that US taxpayers money gets poured into to payout speculative bets made by foreign entities. AIG is also used by the US government to luander additional payments of tax dollars to previously bailed out US Zombie banks through the double dipping process. The AIG bonuses that Obama authorized on the weekend were hush money, paid out to FORMER STAFF MEMBERS of the AIG Derivatives group. What is so nasty that individuals who set off the largest WMD in human history, get rewarded by the US President. Who are the counter parties to the bets that must be paid courtesy of the US taxpayers. What truth does the AIG crew know that must be kept silenced at such a great cost?????
Ah the simple innocent years when all it took was a couple of grams of hash ;-)......................
How to impale an AIG Derivatives Group member.
Mister Squishy - The anger keeps building over Hussein Obama's AIG flip-flop. On the weekend, he authorized "Retention Bonuses" to the AIG derivatives group, as a reward so they can stick around and serve as narrators for how the destroyed $170 Billion of honest peoples money. On Monday, when he realizes that the USA was ready to revolt over his decision, and maybe guillotine Geithner, he reversed his course, expressed outrage, and promised to do everything short of taking the thieves to court. To get a better handle on things we have asked Vlad Tepes, and Marcus Licinisius Crassus for some advice.
Mister Squishy - Hi Vlad & Marcus, how is it going?
Crassus - I am getting very entertained by this, it is as if I am watching a Greek drama unfold...
Vlad - History has proven me right, the Obama is a Turk, and he is showing his true Turk colours.
Mister Squishy - You two have both had experience of dealing with scoundrels. Marcus, your crucifixion of 6,000 of Spartacus men on the road to Rome was amazing.
Crassus - Yes it truly was. Imagine how many carpenters were employed to build 6,000 evenly spaced crucifixion stations. The handiwork was good, but if only it was possible to crucify scoundrels from a Roman road...
Mister Squishy - You could always nail them to the side of an aqueduct....
Crassus - Where were you Mister Squishy when I could have used you?
Mister Squishy - To get the scoop on how to most properly impale, we ask history's master impaler Vlad Tepes for his advice....
Vlad the Impaler - I would like to thank the world for recognition of all the fine impaling I have performed from 1456 to 1462. There are several steps to impaling, and these have to be followed to get it right:
1> Choose your wood carefully. If you want the impaling to be quick, with a triumphant blunt end of the stake going to the heavens through the scoundrels throat, use Lebanese cedar. This gives you a nice straight grain to work with and provided the Scoundrel is correctly positioned at the beginning, you have the blunt spike to heaven montage.
If however you want to raise funds for the state treasury during an impaling, I would suggest using a twisty corkscrew type wood like Greek olive. This way there is a random element of where the blunt end of the stake finally protrudes from. This way you can set up betting booths where the odds favour the state, where the audience can participate by guessing will the stake be a hole in one and come out the throat, or wherever else it decides to perforate.
2> Make sure the stake is heavy enough to support a minimum of 3 Turks, and bury it deep so the ground end stays firmly planted.
3> Make sure the blunt end has been striped of splinters, branches etc, and is nice and smooth. Skipping this step might kill the Turk instantly, and where would be the enetertainment in that.
4> Use Bacon grease. Something about Pork fat makes the Turks squirm faster, and it slows down their death giving them time to repent.
5> You figured out by now what the asshole is used for....
Mister Squishy - There we have it, How to Impale a Modern Scoundrel 101 by history's greatest impaler Vlad Tepes, also known as Vlad the Impaler, or Dracula.. Until toommorow:)
Mister Squishy - Hi Vlad & Marcus, how is it going?
Crassus - I am getting very entertained by this, it is as if I am watching a Greek drama unfold...
Vlad - History has proven me right, the Obama is a Turk, and he is showing his true Turk colours.
Mister Squishy - You two have both had experience of dealing with scoundrels. Marcus, your crucifixion of 6,000 of Spartacus men on the road to Rome was amazing.
Crassus - Yes it truly was. Imagine how many carpenters were employed to build 6,000 evenly spaced crucifixion stations. The handiwork was good, but if only it was possible to crucify scoundrels from a Roman road...
Mister Squishy - You could always nail them to the side of an aqueduct....
Crassus - Where were you Mister Squishy when I could have used you?
Mister Squishy - To get the scoop on how to most properly impale, we ask history's master impaler Vlad Tepes for his advice....
Vlad the Impaler - I would like to thank the world for recognition of all the fine impaling I have performed from 1456 to 1462. There are several steps to impaling, and these have to be followed to get it right:
1> Choose your wood carefully. If you want the impaling to be quick, with a triumphant blunt end of the stake going to the heavens through the scoundrels throat, use Lebanese cedar. This gives you a nice straight grain to work with and provided the Scoundrel is correctly positioned at the beginning, you have the blunt spike to heaven montage.
If however you want to raise funds for the state treasury during an impaling, I would suggest using a twisty corkscrew type wood like Greek olive. This way there is a random element of where the blunt end of the stake finally protrudes from. This way you can set up betting booths where the odds favour the state, where the audience can participate by guessing will the stake be a hole in one and come out the throat, or wherever else it decides to perforate.
2> Make sure the stake is heavy enough to support a minimum of 3 Turks, and bury it deep so the ground end stays firmly planted.
3> Make sure the blunt end has been striped of splinters, branches etc, and is nice and smooth. Skipping this step might kill the Turk instantly, and where would be the enetertainment in that.
4> Use Bacon grease. Something about Pork fat makes the Turks squirm faster, and it slows down their death giving them time to repent.
5> You figured out by now what the asshole is used for....
Mister Squishy - There we have it, How to Impale a Modern Scoundrel 101 by history's greatest impaler Vlad Tepes, also known as Vlad the Impaler, or Dracula.. Until toommorow:)
Tuesday, March 17, 2009
IAG London Derivatives Desk - Terrorists plain and simple...
Question.
What do you call a small cell of individuals that design, build and detonate a weapon of mass destruction that annihilates $170 Billion of US Taxpayer property, and commits unborn future generations to slavery to pay for the damage??????
Terrorists.
The AIG derivatives group, designed a guassian derivatives weapon, they used AIG's AAA credit rating to start building their weapon. They used the fact that the Atlantic Ocean separated their small group from head office so the could continue building an even bigger weapon in secrecy. They detonated their weapon.....
Now $170 Billion Dollars of US taxpayers property is a substantial quantum. What could one do with this money?
1> Buy 6 Nimitz Class aircraft carriers with all the aircraft and all the support ships....
2> Build a 100 foot tall concrete wall over the entire US/Mexico border
3> Insure the health of 50,000,000 uninsured Americans
Whatever can be done, the number is staggering.
Now for the fun part. Most of the AIG derivatives group are not US citizens.....
Since they are not US citizens, President Obama has the power to:
1> Declare the AIG derivatives group the new word on Obamese doublespeak for "Unlawful Combatant".
2> Sieze them and hold them without charge and without access to a attorney.
3> Ship them to a foreign country where the CIA has set up renditioning (torture) centers.
4> Rendition them until they have confessed to whatever they have been asked to confess to, and are pleading to be put out of their misery.
5> Smear them with bacon fat and abandon them in Afghanistan.
This is what the Obama can lawfully do to these scoundrels with his Presidential Powers...
What did the Obama do?
a> He authorized the payment of $165 Million in bonuses to the terrorists as a reward for what they have done.
b> When he saw that the US taxpayers were threatening to revolt, he changes his words and says, "Do everything short of taking the terrorists to court" to prevent the payment of the terrorists reward money..
From what I see, Hussein Obama is creating the mother of all Moral Hazards, and setting a deadly precedent.... Commit an act of terrorism against the United States of America, and get a big fat reward......
In my opinion, the best course of action with the AIG derivatives group is to take the ten scoundrels that stole the most money..... Then IMPALE them on blunt stakes lubricated with bacon grease so all can see in the center of Canary Wharf.
That is what my Hercegovinian Spider Sense tells me is the most appropriate way to deal with the assholes from AIG.
What do you call a small cell of individuals that design, build and detonate a weapon of mass destruction that annihilates $170 Billion of US Taxpayer property, and commits unborn future generations to slavery to pay for the damage??????
Terrorists.
The AIG derivatives group, designed a guassian derivatives weapon, they used AIG's AAA credit rating to start building their weapon. They used the fact that the Atlantic Ocean separated their small group from head office so the could continue building an even bigger weapon in secrecy. They detonated their weapon.....
Now $170 Billion Dollars of US taxpayers property is a substantial quantum. What could one do with this money?
1> Buy 6 Nimitz Class aircraft carriers with all the aircraft and all the support ships....
2> Build a 100 foot tall concrete wall over the entire US/Mexico border
3> Insure the health of 50,000,000 uninsured Americans
Whatever can be done, the number is staggering.
Now for the fun part. Most of the AIG derivatives group are not US citizens.....
Since they are not US citizens, President Obama has the power to:
1> Declare the AIG derivatives group the new word on Obamese doublespeak for "Unlawful Combatant".
2> Sieze them and hold them without charge and without access to a attorney.
3> Ship them to a foreign country where the CIA has set up renditioning (torture) centers.
4> Rendition them until they have confessed to whatever they have been asked to confess to, and are pleading to be put out of their misery.
5> Smear them with bacon fat and abandon them in Afghanistan.
This is what the Obama can lawfully do to these scoundrels with his Presidential Powers...
What did the Obama do?
a> He authorized the payment of $165 Million in bonuses to the terrorists as a reward for what they have done.
b> When he saw that the US taxpayers were threatening to revolt, he changes his words and says, "Do everything short of taking the terrorists to court" to prevent the payment of the terrorists reward money..
From what I see, Hussein Obama is creating the mother of all Moral Hazards, and setting a deadly precedent.... Commit an act of terrorism against the United States of America, and get a big fat reward......
In my opinion, the best course of action with the AIG derivatives group is to take the ten scoundrels that stole the most money..... Then IMPALE them on blunt stakes lubricated with bacon grease so all can see in the center of Canary Wharf.
That is what my Hercegovinian Spider Sense tells me is the most appropriate way to deal with the assholes from AIG.
Monday, March 16, 2009
Obama the pussycat. The AIG the maddnes continues.....
It is as if I am watching an epic macabre dark comedy. The performance of President Obama deserves an Academy award.
After having authorized the payment of $160 million dollars in bonuses to the London derivatives group. The same bunch of clowns that ran the bookie end of AIG's unregulated Casino, screwed up royally since they couldn't figure out that the odds should favour the house. President Obama has now instructed Treasury Secretary Geithner to pursue all actions short of going to court to prevent the payment of the bonuses.
Makes me wonder whether President Obama even has a penis?
Most of the crew at the AIG derivatives desk are not US citizens. President Obama has substantially kept all of George Bush's powers of detention without charge etc., when dealing with suspected terrorists. He has the power to snatch the non-US citizens, transfer them via Gulfstream jet to some scary country, and rendition them. Basically it is within his Presidential power to make a suspected terrorist wish that he or she had never been born.
Obama, smell the coffee and wake up. The AIG derivatives group set off a weapon of mass destruction, and destroyed $170 Billion dollars worth of US taxpayer property. Imagine someone taking out every American aircraft carrier without a loss of US life. That is about the size and scope of the dollar damage that the AIG derivative desk has inflicted.
Label the AIG guys what they are. Terrorist, and deal with them within the scope of your lawful powers. Don't let them go until they are confessing that they are the King of England.
Now only imagine a world where Michael Vick was President. He would certainly have better ideas than Mr. Harvard on how to deal with these financial terrorists.
After having authorized the payment of $160 million dollars in bonuses to the London derivatives group. The same bunch of clowns that ran the bookie end of AIG's unregulated Casino, screwed up royally since they couldn't figure out that the odds should favour the house. President Obama has now instructed Treasury Secretary Geithner to pursue all actions short of going to court to prevent the payment of the bonuses.
Makes me wonder whether President Obama even has a penis?
Most of the crew at the AIG derivatives desk are not US citizens. President Obama has substantially kept all of George Bush's powers of detention without charge etc., when dealing with suspected terrorists. He has the power to snatch the non-US citizens, transfer them via Gulfstream jet to some scary country, and rendition them. Basically it is within his Presidential power to make a suspected terrorist wish that he or she had never been born.
Obama, smell the coffee and wake up. The AIG derivatives group set off a weapon of mass destruction, and destroyed $170 Billion dollars worth of US taxpayer property. Imagine someone taking out every American aircraft carrier without a loss of US life. That is about the size and scope of the dollar damage that the AIG derivative desk has inflicted.
Label the AIG guys what they are. Terrorist, and deal with them within the scope of your lawful powers. Don't let them go until they are confessing that they are the King of England.
Now only imagine a world where Michael Vick was President. He would certainly have better ideas than Mr. Harvard on how to deal with these financial terrorists.
Sunday, March 15, 2009
AIG the mother of all slush funds..........
As of the writing of this blog, the US taxpayer has purchased 80% of AIG, and sunk $170 Billion dollars of capital into the company to unwind its derivative bets. As of the writing of this blog, the US Treasury Secretary Timothy Geithner with the permission of his boss President Obama has authorized the payment of $160 million dollars in bonuses to the AIG derivatives group staff who were responsible for this debacle in the first place.
This money from the US taxpayers was used to make multi-billion dollar payouts to financial institutions, many of them foreign to cover the silly bets that AIG made. It is estimated that over 80% of all the derivatives trade is purely speculative with absolutely no business purpose other than pure speculation. Basically AIG was a casino that was run by a bunch of retards that had no idea of how to calculate any odds so that the spread favored the house.
What is the Obama administration up to? Are they acting indignant but purchasing silence?
Something stinks to high heaven here. How many shadow bets have been paid out away from public scrutiny, and who benefited from it. So far the US taxpayer has gone through four rounds of bailing out AIG.
If the Obama administrations granting permission for the payout of these bonuses doesn't start fanning the forces of revolution, I don't know what will.
It appears that the patients have taken charge of the asylum.
This money from the US taxpayers was used to make multi-billion dollar payouts to financial institutions, many of them foreign to cover the silly bets that AIG made. It is estimated that over 80% of all the derivatives trade is purely speculative with absolutely no business purpose other than pure speculation. Basically AIG was a casino that was run by a bunch of retards that had no idea of how to calculate any odds so that the spread favored the house.
What is the Obama administration up to? Are they acting indignant but purchasing silence?
Something stinks to high heaven here. How many shadow bets have been paid out away from public scrutiny, and who benefited from it. So far the US taxpayer has gone through four rounds of bailing out AIG.
If the Obama administrations granting permission for the payout of these bonuses doesn't start fanning the forces of revolution, I don't know what will.
It appears that the patients have taken charge of the asylum.
Obama's Song He Sings in the Shower While #$%%^^ting
- I come from Illinois with Lincoln's bible on my knee,
- I'm going to Wall Street, my true love for to see
- It rained all night the day I left, the weather it was dry
- The sun so hot I froze to death; thieving bankers, don't you cry.
- Oh, thieving bankers, don't you cry for me
- I come from Illinois, With Lincolns Bible on my knee.
- I had a dream the other night when everything was still,
- I thought I saw thieving bankers coming up the hill,
- The inadequate bonus cheques in their hands, the tears were in their eyes,
- I said I've got the US Treasury, thieving bankers don't you cry.
Oh, thieving bankers, don't you cry for me
I come from Illinois,With Lincolns Bible on my knee.
I jumped aboard the telegraph and traveled down the river,
The payola came and magnified, taxpayers funds I'm a giver.
The banks went bust, and the funds ran off, I really thought I'd die;
I shut my eyes to hold my breath -- Thieving banker don't you cry
Oh, thieving bankers, don't you cry for me
I come from Illinois,With Lincolns Bible on my knee
I soon will be in Washington and then I'll look around
And when I find my thieving bankers, I'll fall upon the ground
But if I do not find them there, then I will surely die
And when I'm dead and buried, thieving bankers don't you cry.
I come from Illinois,With Lincolns Bible on my knee.
I jumped aboard the telegraph and traveled down the river,
The payola came and magnified, taxpayers funds I'm a giver.
The banks went bust, and the funds ran off, I really thought I'd die;
I shut my eyes to hold my breath -- Thieving banker don't you cry
Oh, thieving bankers, don't you cry for me
I come from Illinois,With Lincolns Bible on my knee
I soon will be in Washington and then I'll look around
And when I find my thieving bankers, I'll fall upon the ground
But if I do not find them there, then I will surely die
And when I'm dead and buried, thieving bankers don't you cry.
Oh, thieving bankers, don't you cry for me
I come from Illinois,With Lincolns Bible on my knee
I come from Illinois,With Lincolns Bible on my knee
Saturday, March 14, 2009
A Call to a Victoria Developer
To a developer who has unsold condominiums. Here is a chance to earn some good karma.
Take one of your unsold units that is not a dog unit. Engage the services of a reputable auctioneer. Spend some cheddar on promotion equal to what a FULL MLS COMMISSION would have been. Sell the unit at auction with no reserve.
You would gain the ultimate karma, since you would be an individual who enlightens society to a truth as to the pricing of the most important asset. A persons home. If you don't believe in karma, but believe in heaven and hell, this just might save your soul.
Take one of your unsold units that is not a dog unit. Engage the services of a reputable auctioneer. Spend some cheddar on promotion equal to what a FULL MLS COMMISSION would have been. Sell the unit at auction with no reserve.
You would gain the ultimate karma, since you would be an individual who enlightens society to a truth as to the pricing of the most important asset. A persons home. If you don't believe in karma, but believe in heaven and hell, this just might save your soul.
Welcome to Judgement Day. The Reflections Auction on Millstream Road in Langford British Columbia.
Today, Saturday March 14, 2009 we will find out to what extent has the real estate bubble in Victoria burst. The reason for this is today is the day that the developers of a condominium called The Reflections, on Millstream Road, Langford BC will be holding an auction to sell off the remaining units.
According to the companies marketing materials, these condos were originally bought by speculators who have decided to walk away on their 10% purchase deposits. According to the developer, this is an opportunity to buy a condo at a dramatically reduced price. A couple of things stand out:
1> This "Auction" is not a true NO RESERVE auction, but a sales promotion event where the obscenely overpriced units are reduced to a MINIMUM RESERVE PRICE that is $60,000 to $100,000 lower than the presale OBSCENE price.
2> Even at the minimum reserve auction price, the condos do not make any form of financial sense. Paying in excess of $300 per square foot for a condo butt smack in the middle of Langford is silly.
3> I gravely doubt that they will sell any units. The price is too high, and why on earth would you pay that kind of money for Langford, when at that price per square foot you can be living in Oak Bay.
4> Where is the reputable auctioneer firm? I don't see the mention of Ritchie Brothers anywhere in the promotional material. Ritchie Brothers are a BC company who are the best in the world at what they do, Auctioning. Their rules are simple, no reserve price ever under any circumstances. The reason for this is they don't want to waste their time dealing with goofballs....
So here is my guess as what the developer is truly up to. Trolling for a floor price. Getting ready to make an extremely generous offer to the speculators that reserved the units during the presale phase, and hoped that their damage would be limited to the loss of their 10% deposit.
Here is how the endgame will play out:
1> No condos will be sold today (but who knows what a coked out Edmonton dentist might do).
2> The developer will offer to settle with the speculators for a further payment that would bring their loss to be equal to the difference between the agreed presale price, and the discounted reserve price. Say condo initially presold for $380,000 with $38,000 down, and the reserve being set at $320,000 at the auction. The speculator, if he is lucky might be able to walk for a further payment of $22,000 plus a share of the auction costs, say a further $3,000.
3> Most speculators if given such a generous offer would tell the developer to go #$%^ himself.
4> The developer goes after the speculator for damages in British Columbia Supreme Court.
5> The developer wins in British Columbia Supreme Court, and the judgment is for the following.
a> The difference between the agreed presale price minus the eventual selling price, plus
b> The carrying costs on holding the unit from the day that the speculator was supposed to close to the day that the condo is finally sold, plus
c> Legal costs of the developer, that are required to make a deadbeat speculator live up to the deal that the developer initially entered with them in good faith.
Anybody reading my blog knows that I am obsessed with preventing a moral hazard. A moral hazard is the prospect that a party insulated from risk may behave differently from the way it would behave if it were fully exposed to the risk. Moral hazard arises because an individual or institution does not bear the full consequences of its actions, and therefore has a tendency to act less carefully than it otherwise would, leaving another party to bear some responsibility for the consequences of those actions. My Hercegovinian blood boils when stupidity is rewarded at the expense of prudence. When the State is transformed into an extortionist stooge, thereby undermining it's own legitimacy.
The developer of the condo project made his decision in good faith based upon the sales agreement with the speculator. The developer had to bear the highest construction costs ever to complete his project on time. Provided it was a fair contract to both parties when it was signed, the speculator would have shown the developer no quarter had the shoe been on the other foot.
So to the developer behind The Reflections, on Millstream Road, in Langford British Columbia.. Do society a favour and unleash your fury on the speculators.
According to the companies marketing materials, these condos were originally bought by speculators who have decided to walk away on their 10% purchase deposits. According to the developer, this is an opportunity to buy a condo at a dramatically reduced price. A couple of things stand out:
1> This "Auction" is not a true NO RESERVE auction, but a sales promotion event where the obscenely overpriced units are reduced to a MINIMUM RESERVE PRICE that is $60,000 to $100,000 lower than the presale OBSCENE price.
2> Even at the minimum reserve auction price, the condos do not make any form of financial sense. Paying in excess of $300 per square foot for a condo butt smack in the middle of Langford is silly.
3> I gravely doubt that they will sell any units. The price is too high, and why on earth would you pay that kind of money for Langford, when at that price per square foot you can be living in Oak Bay.
4> Where is the reputable auctioneer firm? I don't see the mention of Ritchie Brothers anywhere in the promotional material. Ritchie Brothers are a BC company who are the best in the world at what they do, Auctioning. Their rules are simple, no reserve price ever under any circumstances. The reason for this is they don't want to waste their time dealing with goofballs....
So here is my guess as what the developer is truly up to. Trolling for a floor price. Getting ready to make an extremely generous offer to the speculators that reserved the units during the presale phase, and hoped that their damage would be limited to the loss of their 10% deposit.
Here is how the endgame will play out:
1> No condos will be sold today (but who knows what a coked out Edmonton dentist might do).
2> The developer will offer to settle with the speculators for a further payment that would bring their loss to be equal to the difference between the agreed presale price, and the discounted reserve price. Say condo initially presold for $380,000 with $38,000 down, and the reserve being set at $320,000 at the auction. The speculator, if he is lucky might be able to walk for a further payment of $22,000 plus a share of the auction costs, say a further $3,000.
3> Most speculators if given such a generous offer would tell the developer to go #$%^ himself.
4> The developer goes after the speculator for damages in British Columbia Supreme Court.
5> The developer wins in British Columbia Supreme Court, and the judgment is for the following.
a> The difference between the agreed presale price minus the eventual selling price, plus
b> The carrying costs on holding the unit from the day that the speculator was supposed to close to the day that the condo is finally sold, plus
c> Legal costs of the developer, that are required to make a deadbeat speculator live up to the deal that the developer initially entered with them in good faith.
Anybody reading my blog knows that I am obsessed with preventing a moral hazard. A moral hazard is the prospect that a party insulated from risk may behave differently from the way it would behave if it were fully exposed to the risk. Moral hazard arises because an individual or institution does not bear the full consequences of its actions, and therefore has a tendency to act less carefully than it otherwise would, leaving another party to bear some responsibility for the consequences of those actions. My Hercegovinian blood boils when stupidity is rewarded at the expense of prudence. When the State is transformed into an extortionist stooge, thereby undermining it's own legitimacy.
The developer of the condo project made his decision in good faith based upon the sales agreement with the speculator. The developer had to bear the highest construction costs ever to complete his project on time. Provided it was a fair contract to both parties when it was signed, the speculator would have shown the developer no quarter had the shoe been on the other foot.
So to the developer behind The Reflections, on Millstream Road, in Langford British Columbia.. Do society a favour and unleash your fury on the speculators.
Thursday, March 12, 2009
I was wrong, I was wrong and I am man enough to admit it.....
Howdy I was wrong on Bernie Madoff..... I had thought he was completely crazy, but it was found that he was only partially crazy.
He misappropriated investors money to fund the operations of his firm.... Which makes him a thief. Of the $64 Billion dollar ponzi scheme, $250 million was used to finance his securities firm. The $175 million in staff bonus cheques signed and sitting in his desk ready to distribute, and probably $75 million used to cover expenses during the last 3 months.
So there, Bernie stole some money......
Now one has to say is Bernie the largest thief in the whole Madoff affair??????
Absolutely not....
The biggest thieves of all were Fairfield Greenwich Group, the hedge fund who took $1 Billion of investors money for purportedly performing due diligence, when THEY DID NOT DO A SINGLE DAMN THING TO EARN IT, THEY JUST TOOK IT......... They gave Madoff $7 Billion, and took for themselves $1 Billion for the pleasure of doing it.
The thing that the Madoff affair exposed was the scummy world of Feeder Funds. These are entities, like Bank Medici, Fairfield Greenwich, Ascot Partners etc that take investors money, pay themselves a cut of 1% of the principal annually, and 10% of the profits per year (20% in the case of Fairfield Greenwich). For this they were supposed to perform extensive due diligence work. For this they were supposed to diversify the investors money, so as to make the investment less volatile and therefore more secure.
Will the feeder funds that defrauded investors in the Madoff affair get criminally charged???
In all likelihood, probably not... But then again, Bank Medici took funds from Oligarchs, Fairfield Greenwich took money from the Colombians, and Ascot partners defrauded scores of Jewish charities.... Three groups that no sane individual would dare fuck with..... So what the US justice department is unwilling to do, the Colombian Cartels, the Russian Mob, and some scary shadowy Jewish groups are more likely to get their pound of flesh from some deserving assholes....
Til next time.
He misappropriated investors money to fund the operations of his firm.... Which makes him a thief. Of the $64 Billion dollar ponzi scheme, $250 million was used to finance his securities firm. The $175 million in staff bonus cheques signed and sitting in his desk ready to distribute, and probably $75 million used to cover expenses during the last 3 months.
So there, Bernie stole some money......
Now one has to say is Bernie the largest thief in the whole Madoff affair??????
Absolutely not....
The biggest thieves of all were Fairfield Greenwich Group, the hedge fund who took $1 Billion of investors money for purportedly performing due diligence, when THEY DID NOT DO A SINGLE DAMN THING TO EARN IT, THEY JUST TOOK IT......... They gave Madoff $7 Billion, and took for themselves $1 Billion for the pleasure of doing it.
The thing that the Madoff affair exposed was the scummy world of Feeder Funds. These are entities, like Bank Medici, Fairfield Greenwich, Ascot Partners etc that take investors money, pay themselves a cut of 1% of the principal annually, and 10% of the profits per year (20% in the case of Fairfield Greenwich). For this they were supposed to perform extensive due diligence work. For this they were supposed to diversify the investors money, so as to make the investment less volatile and therefore more secure.
Will the feeder funds that defrauded investors in the Madoff affair get criminally charged???
In all likelihood, probably not... But then again, Bank Medici took funds from Oligarchs, Fairfield Greenwich took money from the Colombians, and Ascot partners defrauded scores of Jewish charities.... Three groups that no sane individual would dare fuck with..... So what the US justice department is unwilling to do, the Colombian Cartels, the Russian Mob, and some scary shadowy Jewish groups are more likely to get their pound of flesh from some deserving assholes....
Til next time.
Wednesday, March 11, 2009
Obama Wall Street's obedient Stooge.......... Cont.....
I get such a kick out of listening to what lengths B Hussein Obama is prepared to go to to protect the financial upside potential of bankrupt financial institutions shareholders.......
He is prepared to sell the US Taxpayer out to protect the stockholders....
He is prepared to sell the future belonging to the children of the US taxpayer, so he can protect the upside potential of stockholders...
He is prepared to sell the future belonging to the yet unborn grandchildren of US taxpayers to protect the upside potential of stockholders.....
Where does this willingness to SELL the lives of human beings come from????
Maybe it is in his genes.... Maybe it's in the faith of his forefathers.... Maybe he has been bought and paid for by Wall Street......
Here is a neat question... This one is for all the children who think the Obama is the Messiah....
Who is the single largest stockholder of a major US Zombie bank, that is being kept alive by raping American Taxpayers, raping their Children when they are old enough to pay taxes, raping their yet to be born grandchildren to pay the bill.....
The Answer: Saudi Arabia's Prince Alwaleed bin Talal
So their you have it. The name of the individual whose ass is most protected by slave trader Obama's actions.......
Oh yes, to the Afro-Americans who believe that Obama is the Messiah, smell the coffee and wake up..... The only thing the Obama's patriarchal side ancestors had to do with your struggle was catching and selling your ancestors to the European.
The slave trade was one of histories most despicable episode. It was a multi-national business where the point of collection, assembly/bundling, and all operations prior to the loading on the slave ships were largely owned, controlled and done for the benefit of African Muslims. Slavery is still alive, well, and condoned in many parts of Africa.
Maybe that's why it is so easy for him to behave in his manner.
One Nation.......
One People.......
Yes We Can.......
He is prepared to sell the US Taxpayer out to protect the stockholders....
He is prepared to sell the future belonging to the children of the US taxpayer, so he can protect the upside potential of stockholders...
He is prepared to sell the future belonging to the yet unborn grandchildren of US taxpayers to protect the upside potential of stockholders.....
Where does this willingness to SELL the lives of human beings come from????
Maybe it is in his genes.... Maybe it's in the faith of his forefathers.... Maybe he has been bought and paid for by Wall Street......
Here is a neat question... This one is for all the children who think the Obama is the Messiah....
Who is the single largest stockholder of a major US Zombie bank, that is being kept alive by raping American Taxpayers, raping their Children when they are old enough to pay taxes, raping their yet to be born grandchildren to pay the bill.....
The Answer: Saudi Arabia's Prince Alwaleed bin Talal
So their you have it. The name of the individual whose ass is most protected by slave trader Obama's actions.......
Oh yes, to the Afro-Americans who believe that Obama is the Messiah, smell the coffee and wake up..... The only thing the Obama's patriarchal side ancestors had to do with your struggle was catching and selling your ancestors to the European.
The slave trade was one of histories most despicable episode. It was a multi-national business where the point of collection, assembly/bundling, and all operations prior to the loading on the slave ships were largely owned, controlled and done for the benefit of African Muslims. Slavery is still alive, well, and condoned in many parts of Africa.
Maybe that's why it is so easy for him to behave in his manner.
One Nation.......
One People.......
Yes We Can.......
Monday, March 9, 2009
How to fix Wall Street. The soft approach....
After having consulted a panel of experts from the past on how to fix the banking crisis, I feel very confident that this problem can be solved.
The great minds of history understood the danger of the creation of a "Moral Hazard", and they would have dealt with the main perpetrators in a historically comparable manner to how we as a society would treat the worst of the mass murderers today.
Had Marcus Licinius Crassus been in power today, AIG's derivative group would have been crucified. The derivative contracts they wrote would be declared "null and void". Any counter parties that felt that they could buy insurance that protected against absurd investments, would have to face up to their silliness and take their loss. Most importantly, he would have avoided the creation of a moral hazard, as reckless behavior would not be rewarded.
Had Vlad the Impaler been in power today, the thieves who stole taxpayers money to pay out multi-million dollar bonuses would have had their bonus cheques nailed to their heads with a spike. Again, Dracula had the common sense to know that to openly reward and embrace treachery and dishonesty would have created a moral hazard, where people would have the expectation of a reward for a betrayal of societies trust.
Nadar Shah would have implemented an eyeball lottery, and in his 18th century mind showed the world that its possible to be enlightened, inflict far less wrath upon the thieves and still avoid the creation of a moral hazard.
How would we fix the world economic crisis today?
The answer is simple, have absolutely no government funds cover private party guarantees of derivative contracts that were issued in the shadow banking system.
If an entity was imprudent, and purchased a tranche of piggyback loans based upon stated incomes with no underlying security other than a second mortgage against a piece of real property situated in a hurricane belt. That entity should only receive what payments are actually made into the tranche plus whatever damages they receive as an unsecured creditor in the bankruptcy of the derivative writer.
Insurance is meant to be a protection against an unexpected catastrophic event. A mass default on a tranche of piggybacks at stated income with limited underlying security is an expected occurrence, hence it should be uninsured. Does anybody really expect any value to a fire insurance policy issued against a home in the middle of a firestorm, if the policy was issued by an insurer who knew the surrounding neighborhood was on fire at the moment of issue? The answer is no since it would be obvious that the policy was a sham.
This process would play out again repeatedly, as every toxic asset with a fake value backed up by a bogus derivative contract would be priced at their true value. Everybody would have to be a grown up and take their lumps together. Nobody would receive an entitlement to steal from a future individual to insulate them from the consequences of their folly.
Any future derivative contracts would have to be issued and cleared through a centralized exchange. This would mean that a tranche of stated income piggybacks might not be able to get any form of guarantee, and they will be priced at a fraction of face rather than a multiple of face. Any contract insuring against default would be transparently priced and subject to capital regulations.
This process would be painful, but ultimately long term beneficial since fair play and honesty would be carved in stone.
But then again spiking poison paper to the heads of scoundrels has its appeal....
The great minds of history understood the danger of the creation of a "Moral Hazard", and they would have dealt with the main perpetrators in a historically comparable manner to how we as a society would treat the worst of the mass murderers today.
Had Marcus Licinius Crassus been in power today, AIG's derivative group would have been crucified. The derivative contracts they wrote would be declared "null and void". Any counter parties that felt that they could buy insurance that protected against absurd investments, would have to face up to their silliness and take their loss. Most importantly, he would have avoided the creation of a moral hazard, as reckless behavior would not be rewarded.
Had Vlad the Impaler been in power today, the thieves who stole taxpayers money to pay out multi-million dollar bonuses would have had their bonus cheques nailed to their heads with a spike. Again, Dracula had the common sense to know that to openly reward and embrace treachery and dishonesty would have created a moral hazard, where people would have the expectation of a reward for a betrayal of societies trust.
Nadar Shah would have implemented an eyeball lottery, and in his 18th century mind showed the world that its possible to be enlightened, inflict far less wrath upon the thieves and still avoid the creation of a moral hazard.
How would we fix the world economic crisis today?
The answer is simple, have absolutely no government funds cover private party guarantees of derivative contracts that were issued in the shadow banking system.
If an entity was imprudent, and purchased a tranche of piggyback loans based upon stated incomes with no underlying security other than a second mortgage against a piece of real property situated in a hurricane belt. That entity should only receive what payments are actually made into the tranche plus whatever damages they receive as an unsecured creditor in the bankruptcy of the derivative writer.
Insurance is meant to be a protection against an unexpected catastrophic event. A mass default on a tranche of piggybacks at stated income with limited underlying security is an expected occurrence, hence it should be uninsured. Does anybody really expect any value to a fire insurance policy issued against a home in the middle of a firestorm, if the policy was issued by an insurer who knew the surrounding neighborhood was on fire at the moment of issue? The answer is no since it would be obvious that the policy was a sham.
This process would play out again repeatedly, as every toxic asset with a fake value backed up by a bogus derivative contract would be priced at their true value. Everybody would have to be a grown up and take their lumps together. Nobody would receive an entitlement to steal from a future individual to insulate them from the consequences of their folly.
Any future derivative contracts would have to be issued and cleared through a centralized exchange. This would mean that a tranche of stated income piggybacks might not be able to get any form of guarantee, and they will be priced at a fraction of face rather than a multiple of face. Any contract insuring against default would be transparently priced and subject to capital regulations.
This process would be painful, but ultimately long term beneficial since fair play and honesty would be carved in stone.
But then again spiking poison paper to the heads of scoundrels has its appeal....
Sunday, March 8, 2009
The biggest difference between Hussein Obama & John McCain is? Or how are Obama & Hitler kindred spirits?
That Hussein Obama is a bought and paid for bitch. Property of the Wall Street robber barons.
While this statement sounds strong lets face the facts: Both John McCain & Richard Shelby, Republicans have said that some of the biggest banks, if they are lost causes should be allowed to fail, and their assets re-distributed via sale to the surviving banks. This means wiping out the shareholders of the banks, and minimizing the future rape of the taxpayers.
Hussein Obama is such an obedient servant that he has stated that he would never allow a big bank to fail. Which is identical to saying that a perpetual rape of the taxpayers to fund insolvent institutions is far preferable to allowing the shareholders of insolvent institutions to loose their investment.
Lets look at Citicorp:
1> Top shareholder is a Saudi Prince, the country that gave us 9/11
2> So far 40 billion in direct gifts to Citicorp courtesy of the US taxpayer, and a $300 guarantee of the most toxic loans on the books.
Obama's view:
No matter how savagely today's and future generations of US taxpayers have to be raped, the Saudi prince's investment must be protected at all costs.
McCain's & Shelby's view.
Fuck the Saudi Prince.
It is amazing how blind people are. Don't the Americans realize that Wall Street's stooge is saying one thing "Bad Bankers", and is doing completely the opposite "Screwing the Taxpayers on Behalf of the bankers".
Personally I think Hussein Obama is an evil genius..... He gets elected like Adolph Hitler did on a pro-change, pro-environment platform. But once in power, both become the stooges of the Plutocrats. In Hitler's case the armaments Barons, and in Obama's case the Wall Street Barons.
One People
One Nation
One Obama
Yes We Can
While this statement sounds strong lets face the facts: Both John McCain & Richard Shelby, Republicans have said that some of the biggest banks, if they are lost causes should be allowed to fail, and their assets re-distributed via sale to the surviving banks. This means wiping out the shareholders of the banks, and minimizing the future rape of the taxpayers.
Hussein Obama is such an obedient servant that he has stated that he would never allow a big bank to fail. Which is identical to saying that a perpetual rape of the taxpayers to fund insolvent institutions is far preferable to allowing the shareholders of insolvent institutions to loose their investment.
Lets look at Citicorp:
1> Top shareholder is a Saudi Prince, the country that gave us 9/11
2> So far 40 billion in direct gifts to Citicorp courtesy of the US taxpayer, and a $300 guarantee of the most toxic loans on the books.
Obama's view:
No matter how savagely today's and future generations of US taxpayers have to be raped, the Saudi prince's investment must be protected at all costs.
McCain's & Shelby's view.
Fuck the Saudi Prince.
It is amazing how blind people are. Don't the Americans realize that Wall Street's stooge is saying one thing "Bad Bankers", and is doing completely the opposite "Screwing the Taxpayers on Behalf of the bankers".
Personally I think Hussein Obama is an evil genius..... He gets elected like Adolph Hitler did on a pro-change, pro-environment platform. But once in power, both become the stooges of the Plutocrats. In Hitler's case the armaments Barons, and in Obama's case the Wall Street Barons.
One People
One Nation
One Obama
Yes We Can
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